The continued rise in the value of Bitcoin has raised questions about the mind behind the entire project. In a recent statement from PayPal's cofounder (PayPal shares - ticker PYPL) Peter Thiel at the Miami cryptocurrency conference, revealed that he has a clue to find Satoshi Nakamoto, the mysterious founder of the largest cryptocurrency in the world.
Revolution against central banks on the beach of Anguilla
In February 2000, Thiel held a meeting with around 200 people, including the founders of E-gold, around an Anguilla beach. E-gold was a digital gold currency that collapsed in 2007 following the prosecution of its leaders by the United States Department of Justice. The meeting was intended to promote ideas and strategies to challenge the central bank. During the cryptocurrency conference in Miami, Thiel said that Satoshi's identity theory was that he was present at the meeting with the founders of E-gold.
"We were going to make PayPal interoperable with E-Gold and blow up all the central banks."
Thiel believes that Bitcoin is a better version of E-gold, and its anonymity definitely means that Satoshi has built on the failure of the digital currency of gold.
"Bitcoin was the answer to E-Gold and Satoshi learned that you had to be anonymous and you didn't have to have a company."
Trammell doesn't think Satoshi Nakamoto was involved in E-gold
Many cryptocurrency enthusiasts disagree that Satoshi was part of the founders of E-gold and one of them is Justin D. Trammell. Trammell was one of the few people to download the first version of Bitcoin and mine it. In one of his interviews, he revealed that Satoshi received feedback on the project immediately after launching the digital asset in an effort to improve it. Trammell, who is a cybersecurity researcher and virtual security specialist, has suggested some improvements to Bitcoin and has received some awards from Satoshi.
According to him, it is not likely that Satoshi had previously worked on any other e-cash projects.
“Not sure, but probably not. They seem to have put together a lot of different technologies and concepts to create Bitcoin. I'm not sure you could have that kind of clarity and lack of bias if you had worked specifically on digital currencies before. I think you would have needed an external perspective ”.
He added that Satoshi was much more focused on solving a social problem than on a technical problem.
Thiel also revealed that he didn't make much effort to find out Satoshi's identity. He said that if Satoshi's identity is exposed, governments could arrest him.
Many agree that the Bitcoin founder should remain anonymous. Coinbase once claimed that uncovering Satoshi's identity can cause a huge drop in the price of Bitcoin. It is said to have over 1 million Bitcoins, and if they are transferred, the market would be negatively impacted.
