Venture partner Adam Cochran recently proposed a compelling theory: Bitcoin's creator "Satoshi Nakamoto" might not be a single person but a pseudonym shared by Hal Finney and 1–2 collaborators. Through an analysis of timelines, health records, and development patterns, Cochran argues that Bitcoin’s inception was likely a collaborative effort.
The Hal Finney Connection: New Evidence Emerges
The ongoing lawsuit between Craig Wright (self-proclaimed "Faketoshi") and the Crypto Open Patent Alliance (COPA), combined with Martti Malmi's release of 120 pages of email correspondence with Satoshi, has reignited debates about Bitcoin’s enigmatic creator.
"I’ve always thought Hal Finney was the main person behind Satoshi Nakamoto," Cochran tweeted, citing newly disclosed emails as key evidence.
Key Evidence Supporting the Theory
Work and Health Timeline Alignment
- July 2009: Satoshi mentioned having "another job," coinciding with Hal’s employment at PGP Corporation.
- August 2009: Hal was diagnosed with ALS; Satoshi subsequently disappeared, citing work busyness.
- 2010–2011: Satoshi’s activity gaps matched Hal’s declining health and Symantec’s acquisition of PGP.
Role Transition Patterns
- After Satoshi’s 2010–2011 phaseout, Hal re-entered the Bitcoin community, proposing network optimizations.
- Satoshi’s final emails (February–April 2011) mentioned "moving to other things," while Hal focused on Bitcoin signing/verification.
Hal’s Self-Descriptions
- In Bitcoin and Me (2013), Hal described ALS-related struggles mirroring Satoshi’s disappearances.
- He referenced a 2011 "forced retirement" — the same period Satoshi handed control to others.
- Notably, Hal stored Bitcoin in offline wallets in 2010, aligning with dormant wallets from that era.
Writing Style Shifts
- Early emails used British English (e.g., "realise"), later shifting to American spellings ("realize").
- White paper’s use of "we present" implies teamwork, contrasting with Satoshi’s solo persona.
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Counterarguments and Community Reactions
While Cochran’s theory gains traction, researcher Jameson Lopp previously argued against Hal being Satoshi, citing technical disparities. Meanwhile, Three Arrows Capital’s Zhu Su warned against doxxing attempts:
"The doxxing of Satoshi should be avoided. Time-capsule the info for 30 years."
— Zhu Su (@zhusu)
FAQ: Unraveling the Satoshi Mystery
Q: Could Satoshi Nakamoto be multiple people?
A: Evidence like collaborative language and timeline gaps suggests possible teamwork, though no definitive proof exists.
Q: Why does Hal Finney’s ALS matter?
A: His health declines align with Satoshi’s inactivity periods, hinting at shared identity.
Q: What’s the significance of the 2010 offline wallets?
A: Their creation during Hal’s return to Bitcoin development implies strategic asset protection.
Q: How does writing style indicate multiple authors?
A: Spelling shifts (e.g., British to American English) may reflect different contributors.
👉 Explore Bitcoin’s evolution since its mysterious beginnings
Conclusion: Preserving the Legacy
The Satoshi enigma endures, but one truth remains: Bitcoin’s design transcends its creators. Whether a solo genius or a collaborative effort, its decentralized ethos continues to redefine finance. As debates persist, respecting anonymity — as Zhu Su urged — may be the most fitting tribute.
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