Is Nick Szabo the Real Satoshi Nakamoto?

In a few hours, the world may finally learn the true identity of Satoshi Nakamoto, the enigmatic creator of Bitcoin (BTC).

In the run-up to the big reveal, speculation has run wild, with theories ranging from NSA involvement to various individuals like Nick Szabo and Adam Back.

10X Says Nick Szabo Is Satoshi

The crypto community remains divided over the true identity of Bitcoin’s creator, Satoshi Nakamoto, with debates reigniting ahead of an upcoming HBO documentary that promises to unveil their candidate. This ongoing speculation plays into two main theories: that Satoshi is either a single individual or part of a larger group. The principle of Occam’s Razor — favoring the simplest explanation — supports the idea of a sole inventor, but some argue that Bitcoin’s creation could be more complex.

A strong contender for Satoshi’s identity is Nick Szabo, a computer scientist and cryptographer. 10X Research, a well-regarded source for cryptocurrency insights, has pointed to Szabo as the likely figure behind Bitcoin, citing his early work on decentralized currencies and cryptographic techniques as key indicators. 

“The most likely inventor of Bitcoin appears to be Nick Szabo, who developed the phrase and concept of smart contracts in the ’90s and designed a mechanism in 1998 for a decentralized currency called Bit Gold,” an excerpt in the research reads.

Read more: What Is a Satoshi? Everything About Bitcoin’s Smallest Unit

Szabo is a visionary who developed the concept of smart contracts in the 1990s. He constructed a decentralized currency mechanism known as Bit Gold, using his ideas combined with Glenn M. Lilly’s hashing algorithms. In the early 2000s, he assisted the US National Security Agency (NSA) in laying the groundwork for what eventually became the backbone of Bitcoin.

Interestingly, Szabo’s history has sparked further debate around his potential connection to Satoshi Nakamoto. He worked on digital cash initiatives and wrote prescient blog posts discussing the fundamental principles of currency and trust. Szabo also altered the dates of his writings to align with key moments in Bitcoin’s development timeline.

Taken together, these add an intriguing layer to the mystery surrounding the true identity of the anonymous and elusive Bitcoin creator.

More Satoshi Nakamoto Theories Demystified

Meanwhile, another potential candidate for Satoshi Nakamoto, Adam Back, has actively distanced himself from the speculation. After a user on X (formerly Twitter) asked him to explain beyond a reasonable doubt why he is not the anonymous Bitcoin creator, Back responded by clearly stating that he is not Satoshi. 

“In 2013 I went on Bitcoin-wizards IRC and asked lots of questions to catch up with bitcoin details. For example, address holding balance vs utxo coin, etc. here are logs of that IRC channel, so developers who were in the channel are confident it’s not me,” Back explained.

Another individual stricken from the list is Len Sassaman, who was previously a favored candidate for Satoshi Nakamoto according to Polymarket bettors. As of Monday, Sassaman led the odds, but his likelihood dropped after his widow, Meredith L. Patterson, denied the speculation.

“Meredith L Patterson, Len Sassaman’s widow, denied the speculation that Len Sassaman was Satoshi Nakamoto in an interview. HBO never contacted her when making the documentary,” WuBlockchain reported.

Amidst ongoing speculation, the latest Polymarket data shows bettors increasingly backing Nick Szabo, supported by 10X Research as a leading candidate for Satoshi Nakamoto.

Read more: What Is Bitcoin? A Guide to the Original Cryptocurrency

With HBO’s upcoming documentary expected to potentially reveal Bitcoin’s creator, some, like Adam Back, continue to argue that maintaining Satoshi’s anonymity is beneficial. They believe that Bitcoin’s decentralized nature should stay free from sovereign control, a principle that aligns with the cryptocurrency’s foundational ideals of freedom and autonomy.

Whether Satoshi’s identity will be unveiled or the mystery deepens further remains uncertain, but the debate highlights the core values that have driven Bitcoin’s success.