Who created bitcoin?

Bitcoin was created by a person or group using the name Satoshi Nakamoto. Nobody has proved who is behind the name. Satoshi published the design in 2008, launched the network in 2009 and stopped communicating about two years later.

What did Satoshi Nakamoto do?

On October 31, 2008, a message appeared on an email list for cryptography researchers. It linked to a paper titled "Bitcoin: A Peer-to-Peer Electronic Cash System", signed by Satoshi Nakamoto. The paper described a way to send money online without a bank, using a shared public record of the kind now called a blockchain.

On January 3, 2009, Satoshi created the first block of the bitcoin ledger, known as the genesis block. Embedded in it is a headline from that day's edition of The Times of London about a second bailout for banks. Many read it as a comment on the financial crisis, though Satoshi never explained it.

When did Satoshi disappear?

Satoshi's public forum posts ended in December 2010. In emails to other developers in the spring of 2011, Satoshi said they had moved on to other things. Responsibility for the code passed to other developers, and Satoshi has not been reliably heard from since.

Satoshi is also believed to have mined a large number of coins in the network's first year or so, when few others were taking part. Researchers who have studied the early blocks estimate the total at around one million bitcoin. Those coins appear never to have been spent.

Why does nobody know who Satoshi is?

Satoshi wrote under a pseudonym, hid their location and shared almost no personal details. Journalists and researchers have put forward many candidates over the years. None has been proven, and most of those named have denied it.

The accepted proof would be simple: sign a message with a private key tied to the earliest blocks, or move some of the early coins. Nobody has done so. In a judgment published in May 2024, a High Court judge in London ruled that one man who had claimed for years to be Satoshi was not, and found that he had relied on forged documents.

Does it matter who Satoshi is?

For the running of the network, not much. Bitcoin's rules are enforced by nodes, the thousands of computers that run its software, and changes need broad agreement among the people who operate them. No founder holds a master key. Supporters argue that the absence of a leader is a strength, since there is no one for a government or company to pressure.

Two points still draw attention. The early coins are a very large holding, and traders watch for any sign that they have moved. And a founder who cannot be questioned leaves gaps in the record, such as why the supply was capped at 21 million.