Satoshi Nakamoto Contemplated Calling Bitcoin, Netcoin

Posted on by Doris Kyende
Estimated read time 4 min read
    • A day before the domain Bitcoin was registered someone purchased Netcoin using the same registrar.
    •  To date, the Bitcoin founder’s true identity is unknown.

Coming up with a good name which is going to be referred almost forever is challenging. This, especially when launching a business or service. A historical data of the domain name shows that Satoshi Nakamoto, the founder of Bitcoin, originally wanted to name the coin Netcoin. The founder was not decided on the digital asset’s name.

On August 18th 2008 , under AnonymousSpeech, there was a service in Japan that allowed users to buy domain names anonymously. Around the same timelines it showed that an anonymous person purchased the domain Netcoin.org on 17th August 2018 just a day prior to the creation of Bitcoin.org.

A further research shows that the domain Netcoin.org was later repurchased by another person, and no content was ever present on netcoin.org. It is not known how much Satoshi Nakamoto is worth as it is believed he uses different addresses to trade and mine.

Who is Satoshi Nakamoto?

This has been a big debate since Bitcoin, a Peer-to-Peer Electronic Cash System, went online and published in 2008. Satoshi Nakamoto was the author of the white paper laying out details and operating structure of Bitcoin payment system.

In February 2009, Nakamoto created the first ever online message post dedicated to cryptocurrency, on the P2P Foundation forum.

I’ve developed a new open source P2P e-cash system called Bitcoin. It’s completely decentralized, with no central server or trusted parties, because everything is based on crypto proof instead of trust. Give it a try, or take a look at the screenshots and design paper: Download Bitcoin v0.1 at http://www.bitcoin.org

Till to date Bitcoin founder (s) has been a mystery. Very little is known about this person or group and the identity has never been confirmed. This person uses the name Satoshi Nakamoto as a pseudonym name. However there are 3 names of people thought to be the mastermind behind Bitcoin;

  • Nick Szabo

This computer engineer and legal scholar is credited with pioneering the concept of smart contracts in a 1996 paper. In 2018 he conceptualized a decentralized currency called Bitgold a precursor to Bitcoin.

He described BitGold as

A protocol whereby unforgeable costly bits could be created online with minimal dependence on trusted third parties.

It is clear that this is very similar to the Bitcoin concept. He also wrote a book called  The Future of Money? which a stylometrics expert who concluded that Szabo’s writing style was similar to known writings from Satoshi Nakamoto.

  • Craig Wright

In December 2015, Wired Magazine wrote about Wright, claiming it had “obtained the strongest evidence of Satoshi Nakamoto’s true identity.” The article reported on Wright’s appearance via Skype at that year’s Bitcoin Investor’s Conference in Las Vegas.

When Wright was asked about his credentials, he said he was “a bit of everything.” He listed his degrees, including a master’s in statistics and two doctorates. He also said: “I’ve been involved with all of this for a long time …I try and keep my head down.”

  • Dorian Nakamoto

This was the most high profile attempt to reveal Bitcoin’s founder. Newsweek pointed out several similarities of Dorian Nakamoto and Satoshi Nakamoto. One of them is both supposedly held libertarian leanings and a Japanese connection. The newsweek author also claimed that Nakamoto said he was no longer involved with Bitcoin and that he had turned it over to other people. Dorian denied the claim and said the press misunderstood the quote.

 

 

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Doris Kyende

Open your eyes to the world of digital currency, its unlike anything you've seen!
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Who gave me permission to | take up space | create abundance | and feel worthy of my every desire ?
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