Satoshi Nakamoto chooses to be unknown

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Satoshi Nakamoto is unknown to the whole world.Bitcoin is the first cryptocurrency and all cryptocurrencies are either directly or indirectly connected with bitcoin. Against Bitcoin the major crytocurrencies backed.  So, we understand how this technology works and how much effort any single person or group of people put to create this system still are unknown. No one knows the exact reason behind this but there are a lot of conspiracy theories built around this but we will discuss theory which more logical in this article

Why Satoshi Nakamoto needs and chooses to be unknown. Before bitcoin come into existence there was a company called Gold & Silver Reserve Inc. created E-Gold. E-Gold was the same as bitcoin. Through internet Gold Backed currency  transacted. In 1996 E-Gold created.13 years before bitcoin. The company allowed users to open an account on their website denominated in grams of gold and the ability to make instant transfers of value to other e-gold accounts. A server of this website is located in different countries to make sure decentralization.

Satoshi Nakamoto chooses to be unknown

This payment option gets too popular because, at its peak in 2006, e-gold was processing more than US$2 billion worth of transactions per year. The users get absurdity of payment as the e-gold backed by actual gold stored in London.  The scammers fraudsters adopts e-gold. It transfers money without identity.  Hackers start hacking e-gold accounts. Let us see the original post made by Satoshi Nakamoto.

PayPal co-founder and billionaire venture capitalist Peter Theil said in an interview

“We were beginning the revolution against the central banks on the beach in Anguilla. We were going to make PayPal interoperable with e-Gold and blow up all the central banks”Article link:- https://cointelegraph.com/news/early-meeting-of-e-gold-founders-may-hold-clue-to-satoshi-nakamoto-s-identity-peter-thiel

So if any system that challenges directly central banks will be getting into eyes quickly. The earliest adopters of any technology are scamsters or fraudsters. So in e-gold also as scamsters and fraudsters start using this payment method. The enforcement charged e-gold with money laundering.The enforcement seized all operations and the company  closed.

In this only an e-gold company gets a charge for illegal happenings and not anyone else. A case study related to bitcoin early adopters where multiple exchange accounts and silk road hacked. Hence no one seized as no company operates Bitcoin.  So possibly that’s why the bitcoin creator chooses to keep under the curtain in name of Satoshi Nakamoto. Around Bitcoin all cryptocurrency environment developed. Bitcoin creators exposed as the end of cryptos come near. As well as bitcoin enforcement takedown bitcoin. so cryptos need that Satoshi Nakamoto to be unknown.

Conclusion

No one knows Satoshi Nakamoto is a single person or company. People try to find more about that and come up with possible outcomes you can read about: https://www.investopedia.com/tech/three-people-who-were-supposedly-bitcoin-founder-satoshi-nakamoto/

In the coming articles, we will discuss more blockchain use cases and frauds or scams and how we can spot those.