This year in mid-May the YouTube channel “Barely Sociable” with 400k subscribers revealed that 49-year-old Adam Black is Satoshi in a 40-minute video. The crypto community’s most favorite guessing game: Who is behind the creation of Bitcoin went by the pseudonym, Satoshi Nakamoto. This video went up in ranks with more than 300k views creating a lot of hype in the crypto society.
With Back’s background and a Ph.D. in computer science he does tick off a lot of boxes. He invented Hashash in the 1990s which uses as a verification system that uses in Bitcoin. Back is also the initial person that Satoshi communicated in 2008, curious about the Hashcash. Does this make Back the Satoshi?
In a phone interview done in June from Malta Back said “No, I am not,” But he mentioned that it is best the creator of the world’s largest cryptocurrency remain as a mystery.
Back further commented, “It’s generally viewed at this point as better than the founder of Bitcoin is not known because a lot of people have a hierarchical mindset.”
“If you read about technology, you try to figure out who is the CEO of a company, and people want to ask questions. Because Bitcoin is more like digital gold, you wouldn’t want gold to have a founder. For Bitcoin to keep a commodity-like perception, I think it’s a very good thing that Satoshi stays out of the public.”
Being valued at least about $10 billion, Satoshi is believed to be holding more than 1 million Bitcoins in his portfolio hiding behind his pseudonym Satoshi Nakamoto.
Back is a strong Bitcoin believer, working as a CEO of Blockchain Corp., a company that specialized in selling equipment supporting Bitcoin-related operations. He mines Bitcoins and no other altcoins and keeps what he mines without selling. Back believes that Bitcoin’s price will go up to $300,000 in the next five years from the current price of $10,000.
With the current epidemic COVID-19 and more people working from home, the real estate investments are getting riskier each day. Bonds also may be overvalued. Hence more investors may be opting for Bitcoins even though there are many unanswered questions.
“It is causing people to think about the value of money and looking for ways to preserve money,” Back said. “It’s a difficult environment to get any yield.”
Even Back has denied that he is “Satoshi Nakamoto” he could not avoid being caught up in obsessions of who created the Bitcoin. He received a lawsuit from Craid Write an Australian cryptocurrency enthusiast who claims to be Satoshi Nakamoto as Back has the nerve to mention Wright is not Satoshi. However, Wright abandoned the lawsuit against him after a while and had to pay his legal fees.