Originally published on: October 16, 2024
Adam Back, the mastermind behind Blockstream and a key player in the early development of Bitcoin, believes that the true value of the digital currency lies in the anonymity of its elusive founder, Satoshi Nakamoto.
In an eye-opening interview with Cointelegraph’s managing editor, Gareth Jenkinson, Back revealed his unwavering conviction that the identity of Satoshi Nakamoto will forever remain a mystery, and that this enigma is actually a benefit for Bitcoin.
Despite exhaustive efforts by countless researchers to unmask the elusive Satoshi, Back asserts that no conclusive evidence has emerged from the 15-year digital trail left behind by the founder. This lack of a singular, central figure behind Bitcoin, in stark contrast to other cryptocurrencies like Ethereum with Vitalik Buterin at the helm, solidifies Bitcoin’s status as a valuable commodity rather than a traditional startup or invention.
“It helps it feel more like a discovery than a startup or an invention,” Back explains, highlighting the unique allure of Bitcoin as a decentralized entity free from the constraints of a central leader.
Moreover, Back stresses the importance of embracing both of Bitcoin’s prevailing narratives — as a digital gold and as a form of money — in order to ensure the long-term success of the cryptocurrency.
For an in-depth exploration of Back’s insights and expertise on all things Bitcoin, be sure to catch the full interview on Cointelegraph’s YouTube channel. Subscribe now to stay updated on the latest from the world of cryptocurrency and blockchain technology.
