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Tajemniczy pan Nakamoto. Kim jest genialny twórca kryptowaluty?
Największa nierozwiązana zagadka naszych czasów.
Sądowe pozwy, pościgi samochodowe, groźby śmierci.
Oddział SWAT, samobójstwo i zbiegły handlarz bronią.
Bunkier przeciwatomowy w Europie, zamrożone ciała na pustyni w Arizonie i brytyjski szpieg w torbie turystycznej.
We wciągającym śledztwie Benjamina Wallace’a nie brak adrenaliny. Pytanie: kim jest Satoshi Nakamoto, twórca bitcoinów, rozpala wyobraźnię. Gdyby tylko wyszedł z cienia, zyskałby sławę i bajeczny majątek – w portfelu zgromadził 1,1 miliona BTC, czyli prawie 450 miliardów złotych!
Dlaczego się ukrywa?
Wallace przedstawia wyniki piętnastoletniego śledztwa mającego ustalić tożsamość człowieka, który zrewolucjonizował myślenie o pieniądzu. Czy rozwikłanie tej zagadki wstrząsnęłoby światowymi rynkami?
Nakamoto jest jak Dawid, który wymierzył procę w Goliata – banki i rządy.
Sądowe pozwy, pościgi samochodowe, groźby śmierci.
Oddział SWAT, samobójstwo i zbiegły handlarz bronią.
Bunkier przeciwatomowy w Europie, zamrożone ciała na pustyni w Arizonie i brytyjski szpieg w torbie turystycznej.
We wciągającym śledztwie Benjamina Wallace’a nie brak adrenaliny. Pytanie: kim jest Satoshi Nakamoto, twórca bitcoinów, rozpala wyobraźnię. Gdyby tylko wyszedł z cienia, zyskałby sławę i bajeczny majątek – w portfelu zgromadził 1,1 miliona BTC, czyli prawie 450 miliardów złotych!
Dlaczego się ukrywa?
Wallace przedstawia wyniki piętnastoletniego śledztwa mającego ustalić tożsamość człowieka, który zrewolucjonizował myślenie o pieniądzu. Czy rozwikłanie tej zagadki wstrząsnęłoby światowymi rynkami?
Nakamoto jest jak Dawid, który wymierzył procę w Goliata – banki i rządy.
384 pages, Paperback
First published March 18, 2025
139 people are currently reading
3572 people want to read
About the author
Benjamin Wallace
2 books24 followersBenjamin Wallace is the New York Times bestselling author of The Billionaire’s Vinegar. He has been a features writer at New York and a contributing editor at Vanity Fair.
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Displaying 1 - 30 of 48 reviews
March 20, 2025
I was not a brilliant child. Years later, it dawned on me that I fixated on a question of what I guess we would call epistemology. I fantasized about being able to ask someone a question that it seemed no one had the answer to. The question was, “Did O.J. Simpson really do it?” (Give me a break, I was a kid.)
Benjamin Wallace, probably not to be confused with the ornery be-afroed Detroit Piston, carries this fantasy to an admirable extreme. He knows that the odds are against him in his mission to learn who brought Bitcoin into being. Nevertheless, he persisted. Wallace and other journalists determined to unmask “Satoshi Nakamoto” encountered a bizarre resistance from a slice of cryptocurrency enthusiasts who argued that it does not matter who Nakamoto is because he invented such a world-changing product. This is ironic, considering that the philosophy behind cryptocurrency arose out of rationalist email lists and internet fora who would be expected to welcome the pursuit of knowledge.
The Mysterious Mr. Nakamoto is advertised as a mystery, and it is. I don’t cross paths often with the kinds of books that necessitate the spoiler tag, so I will forbear to tell you whether the mystery was solved. The chase, in any case, was respectable, and presented with an ideal quantum of author involvement. (I have long given up expecting the reportage of years-long quest such as Wallace’s not to season itself with a couple of “my totally normal, emotionally stable spouse thinks I’m crazy!” anecdotes.)
Mr. Nakamoto’s detail may be more geared to crypto enthusiasts who already know all the characters, but is nevertheless a rewarding primer on Bitcoin. The fact is, no one actually understands this stuff.
Benjamin Wallace, probably not to be confused with the ornery be-afroed Detroit Piston, carries this fantasy to an admirable extreme. He knows that the odds are against him in his mission to learn who brought Bitcoin into being. Nevertheless, he persisted. Wallace and other journalists determined to unmask “Satoshi Nakamoto” encountered a bizarre resistance from a slice of cryptocurrency enthusiasts who argued that it does not matter who Nakamoto is because he invented such a world-changing product. This is ironic, considering that the philosophy behind cryptocurrency arose out of rationalist email lists and internet fora who would be expected to welcome the pursuit of knowledge.
The Mysterious Mr. Nakamoto is advertised as a mystery, and it is. I don’t cross paths often with the kinds of books that necessitate the spoiler tag, so I will forbear to tell you whether the mystery was solved. The chase, in any case, was respectable, and presented with an ideal quantum of author involvement. (I have long given up expecting the reportage of years-long quest such as Wallace’s not to season itself with a couple of “my totally normal, emotionally stable spouse thinks I’m crazy!” anecdotes.)
Mr. Nakamoto’s detail may be more geared to crypto enthusiasts who already know all the characters, but is nevertheless a rewarding primer on Bitcoin. The fact is, no one actually understands this stuff.
April 27, 2025
3.5 stars
I liked this author’s previous book, “The Billionaire’s Vinegar” (about vintage wine collectors), and was hoping for more of the same journalistic sleuthing that he brought to that subject.
This time, however, Wallace picked an inherently more difficult topic: the identity of the creator of the cryptocurrency Bitcoin, someone who goes by the pseudonym Satoshi Nakamoto and who has gone to great lengths specifically not to be identified.
We get a lot of interesting profiles of some of the people involved in the cryptocurrency movement, but in the end no definite conclusions. In fact, I think the only reason this book has been released now in spite of its inconclusive results is because the author was under contract to write it and his publisher figured enough is enough.
Ultimately, while it may be intellectually satisfying to know this person's identity, we don’t really need to know, and should respect their obvious wish for privacy.
I liked this author’s previous book, “The Billionaire’s Vinegar” (about vintage wine collectors), and was hoping for more of the same journalistic sleuthing that he brought to that subject.
This time, however, Wallace picked an inherently more difficult topic: the identity of the creator of the cryptocurrency Bitcoin, someone who goes by the pseudonym Satoshi Nakamoto and who has gone to great lengths specifically not to be identified.
We get a lot of interesting profiles of some of the people involved in the cryptocurrency movement, but in the end no definite conclusions. In fact, I think the only reason this book has been released now in spite of its inconclusive results is because the author was under contract to write it and his publisher figured enough is enough.
Ultimately, while it may be intellectually satisfying to know this person's identity, we don’t really need to know, and should respect their obvious wish for privacy.
April 11, 2025
I loved Wallace's The Billionaire's Vinegar, and I think the identity of the creator of crypto is a worthy mystery -- but it feels like this book was published now not because the story was done, but because the book had been under contract for too long. I also feel like he may have bought into crypto as a concept a bit too much, and that could be blinding him. Non-spoiler spoiler alert: crypto sucks!
This book still contains some fascinating and well-written profiles of a lot of the dodgy figures surrounding the cryptocurrency movement, but like the movement itself, it doesn't add up to much.
This book still contains some fascinating and well-written profiles of a lot of the dodgy figures surrounding the cryptocurrency movement, but like the movement itself, it doesn't add up to much.
May 15, 2025
"The Mysterious Mr. Nakamoto" by Benjamin Wallace delves into one of the most intriguing enigmas in modern technology: the identity of Bitcoin’s elusive creator. With a narrative that stretches across continents, years of digital clues, and a cast of brilliant yet secretive individuals, Wallace’s book offers more than just a history of cryptocurrency—it’s a detective story fueled by obsession, idealism, and the persistent allure of anonymity. At its center lies a singular question that has captivated technologists, journalists, and governments alike: Who is Satoshi Nakamoto?
Bitcoin was introduced at a time of deep financial uncertainty. In late 2008, amid global economic collapse and widespread distrust in financial institutions, an anonymous figure named Satoshi Nakamoto posted a white paper to a cryptography mailing list outlining a novel type of digital money. His concept, a peer-to-peer electronic cash system, promised independence from centralized authorities like banks and governments. Unlike previous attempts at digital currency, which failed to prevent duplication or double-spending, Nakamoto’s solution was revolutionary. He proposed a decentralized ledger—the blockchain—where every transaction would be permanently recorded and verified through collective consensus by a distributed network of computers.
This system didn’t rely on trust in a central figure. Instead, it used mathematical proof, cryptographic security, and a network of volunteers performing energy-intensive computations to validate transactions and earn rewards in newly minted bitcoins. With a fixed cap of 21 million coins, Bitcoin was inherently resistant to inflation and governmental manipulation. In its early days, the project attracted a motley crew of libertarians, privacy advocates, coders, and crypto-anarchists. What began as a curious experiment among niche communities slowly grew into a seismic shift in how money could work.
One of the earliest public faces of Bitcoin was Gavin Andresen, a mild-mannered software developer and family man. Discovering Bitcoin in 2010, he was struck by its elegance and potential. He immersed himself in the project, contributing code, answering questions in forums, and launching initiatives to increase adoption. His efforts didn’t go unnoticed. Nakamoto, still the sole authority behind the project, gradually entrusted him with more control. Though they never met or spoke in person, Nakamoto handed over the project’s keys, figuratively and literally, to Andresen, making him the project's de facto steward.
But the transition came at a cost. When Andresen revealed he had accepted an invitation to speak at the CIA, Nakamoto fell silent. He never replied again. By mid-2011, he had vanished completely from the internet. His disappearance left behind a digital fortune—over a million bitcoins, untouched and unclaimed—and a void that would soon be filled with theories, accusations, and a relentless search for the person behind the pseudonym.
The book explores several individuals long suspected of being Satoshi. One early favorite was Nick Szabo, a computer scientist with a deep interest in cryptography, digital money, and law. Years before Bitcoin, Szabo had proposed 'bit gold,' a decentralized currency model that bore striking similarities to Nakamoto’s invention. Linguistic analyses revealed quirks in Szabo’s writing that matched Nakamoto’s, and Szabo’s public silence around the time of Bitcoin’s launch was seen as telling. Still, discrepancies in their communication styles and Szabo’s sometimes muddled public speaking raised doubts. Over time, what had seemed like convincing circumstantial evidence lost its sharpness, and Szabo never publicly claimed the mantle.
Another prominent claimant was Craig Wright, an eccentric Australian entrepreneur. Wright’s background included advanced technical knowledge, a flair for drama, and a long-standing partnership with the late Dave Kleiman, a computer forensics expert. After Kleiman’s death, Wright claimed they had created Bitcoin together. While Wright provided some cryptographic demonstrations, independent experts quickly discredited them as deceptive. His refusal to provide simple, verifiable proof—such as signing a message with Nakamoto’s private key—undermined his credibility. Gavin Andresen, initially convinced by Wright’s technical demonstration in a private meeting, later retracted his endorsement. Wright’s erratic behavior, public craving for recognition, and legal battles further distanced him from the calm, calculated persona that characterized Nakamoto.
Wallace’s investigation also takes readers to more obscure corners. One suspect, James Donald, had responded to Nakamoto’s initial announcement with technical insights and skepticism that suggested deep familiarity with the ideas involved. His background in software development, combined with his ideological shift from leftist roots to staunch libertarianism, made him a plausible candidate. Stylometric comparisons noted similarities in writing and code, and he had registered a domain name eerily close to Bitcoin’s around the same time. Yet Donald’s blunt, sometimes abrasive communication style clashed with Nakamoto’s polite and measured tone. When Wallace eventually tracked Donald down in Australia, their conversation was cryptic, evasive, and ultimately unilluminating.
Beyond the personalities, the book dives deep into the ideological roots that made Bitcoin possible. In the early 1990s, the cypherpunk movement emerged—a band of cryptographers, computer scientists, and activists committed to using technology to preserve privacy and resist state surveillance. They believed cryptography could become a powerful tool of individual empowerment. For them, money itself needed reinvention. Previous attempts at digital cash, like David Chaum’s DigiCash, had failed because they required central authorities. Satoshi’s design was the culmination of these decades-long efforts—an implementation of the cypherpunk dream where trust was embedded in code, not people.
The story Wallace tells is as much about belief as it is about identity. The people chasing Nakamoto’s shadow are driven by more than curiosity; they’re trying to understand the origin of something that has upended traditional finance, challenged state authority, and empowered movements across the globe. The investigation is marked by dead ends, contradictions, and the limits of what can be uncovered in an age where anonymity can be engineered with skill. Through it all, Wallace remains an observer—a seeker of truth in a story where truth often slips through the cracks.
By the end of the book, it becomes clear that the mystery of Nakamoto’s identity may never be solved—and that perhaps it shouldn't be. In refusing to step forward, Nakamoto ensured Bitcoin’s credibility wouldn’t hinge on any one person. The power of the system lies in its decentralization, in the idea that no individual controls it. This absence becomes a feature, not a bug—a ghost in the machine that speaks to the values embedded in the protocol itself.
"The Mysterious Mr. Nakamoto" leaves readers with more questions than answers, but that seems fitting for a story about the world’s most successful anonymous invention. In an era obsessed with fame, Satoshi Nakamoto’s vanishing act is both provocative and poetic. His withdrawal from the public eye helped Bitcoin thrive without a single point of failure. The real identity may matter less than what the mystery represents: the triumph of code over personality, of math over power. In the end, Wallace shows that the legend of Satoshi may be more powerful than any truth ever could be.
Bitcoin was introduced at a time of deep financial uncertainty. In late 2008, amid global economic collapse and widespread distrust in financial institutions, an anonymous figure named Satoshi Nakamoto posted a white paper to a cryptography mailing list outlining a novel type of digital money. His concept, a peer-to-peer electronic cash system, promised independence from centralized authorities like banks and governments. Unlike previous attempts at digital currency, which failed to prevent duplication or double-spending, Nakamoto’s solution was revolutionary. He proposed a decentralized ledger—the blockchain—where every transaction would be permanently recorded and verified through collective consensus by a distributed network of computers.
This system didn’t rely on trust in a central figure. Instead, it used mathematical proof, cryptographic security, and a network of volunteers performing energy-intensive computations to validate transactions and earn rewards in newly minted bitcoins. With a fixed cap of 21 million coins, Bitcoin was inherently resistant to inflation and governmental manipulation. In its early days, the project attracted a motley crew of libertarians, privacy advocates, coders, and crypto-anarchists. What began as a curious experiment among niche communities slowly grew into a seismic shift in how money could work.
One of the earliest public faces of Bitcoin was Gavin Andresen, a mild-mannered software developer and family man. Discovering Bitcoin in 2010, he was struck by its elegance and potential. He immersed himself in the project, contributing code, answering questions in forums, and launching initiatives to increase adoption. His efforts didn’t go unnoticed. Nakamoto, still the sole authority behind the project, gradually entrusted him with more control. Though they never met or spoke in person, Nakamoto handed over the project’s keys, figuratively and literally, to Andresen, making him the project's de facto steward.
But the transition came at a cost. When Andresen revealed he had accepted an invitation to speak at the CIA, Nakamoto fell silent. He never replied again. By mid-2011, he had vanished completely from the internet. His disappearance left behind a digital fortune—over a million bitcoins, untouched and unclaimed—and a void that would soon be filled with theories, accusations, and a relentless search for the person behind the pseudonym.
The book explores several individuals long suspected of being Satoshi. One early favorite was Nick Szabo, a computer scientist with a deep interest in cryptography, digital money, and law. Years before Bitcoin, Szabo had proposed 'bit gold,' a decentralized currency model that bore striking similarities to Nakamoto’s invention. Linguistic analyses revealed quirks in Szabo’s writing that matched Nakamoto’s, and Szabo’s public silence around the time of Bitcoin’s launch was seen as telling. Still, discrepancies in their communication styles and Szabo’s sometimes muddled public speaking raised doubts. Over time, what had seemed like convincing circumstantial evidence lost its sharpness, and Szabo never publicly claimed the mantle.
Another prominent claimant was Craig Wright, an eccentric Australian entrepreneur. Wright’s background included advanced technical knowledge, a flair for drama, and a long-standing partnership with the late Dave Kleiman, a computer forensics expert. After Kleiman’s death, Wright claimed they had created Bitcoin together. While Wright provided some cryptographic demonstrations, independent experts quickly discredited them as deceptive. His refusal to provide simple, verifiable proof—such as signing a message with Nakamoto’s private key—undermined his credibility. Gavin Andresen, initially convinced by Wright’s technical demonstration in a private meeting, later retracted his endorsement. Wright’s erratic behavior, public craving for recognition, and legal battles further distanced him from the calm, calculated persona that characterized Nakamoto.
Wallace’s investigation also takes readers to more obscure corners. One suspect, James Donald, had responded to Nakamoto’s initial announcement with technical insights and skepticism that suggested deep familiarity with the ideas involved. His background in software development, combined with his ideological shift from leftist roots to staunch libertarianism, made him a plausible candidate. Stylometric comparisons noted similarities in writing and code, and he had registered a domain name eerily close to Bitcoin’s around the same time. Yet Donald’s blunt, sometimes abrasive communication style clashed with Nakamoto’s polite and measured tone. When Wallace eventually tracked Donald down in Australia, their conversation was cryptic, evasive, and ultimately unilluminating.
Beyond the personalities, the book dives deep into the ideological roots that made Bitcoin possible. In the early 1990s, the cypherpunk movement emerged—a band of cryptographers, computer scientists, and activists committed to using technology to preserve privacy and resist state surveillance. They believed cryptography could become a powerful tool of individual empowerment. For them, money itself needed reinvention. Previous attempts at digital cash, like David Chaum’s DigiCash, had failed because they required central authorities. Satoshi’s design was the culmination of these decades-long efforts—an implementation of the cypherpunk dream where trust was embedded in code, not people.
The story Wallace tells is as much about belief as it is about identity. The people chasing Nakamoto’s shadow are driven by more than curiosity; they’re trying to understand the origin of something that has upended traditional finance, challenged state authority, and empowered movements across the globe. The investigation is marked by dead ends, contradictions, and the limits of what can be uncovered in an age where anonymity can be engineered with skill. Through it all, Wallace remains an observer—a seeker of truth in a story where truth often slips through the cracks.
By the end of the book, it becomes clear that the mystery of Nakamoto’s identity may never be solved—and that perhaps it shouldn't be. In refusing to step forward, Nakamoto ensured Bitcoin’s credibility wouldn’t hinge on any one person. The power of the system lies in its decentralization, in the idea that no individual controls it. This absence becomes a feature, not a bug—a ghost in the machine that speaks to the values embedded in the protocol itself.
"The Mysterious Mr. Nakamoto" leaves readers with more questions than answers, but that seems fitting for a story about the world’s most successful anonymous invention. In an era obsessed with fame, Satoshi Nakamoto’s vanishing act is both provocative and poetic. His withdrawal from the public eye helped Bitcoin thrive without a single point of failure. The real identity may matter less than what the mystery represents: the triumph of code over personality, of math over power. In the end, Wallace shows that the legend of Satoshi may be more powerful than any truth ever could be.
September 10, 2025
It's the greatest whodunit. Whoever created Bitcoin became the world's richest person, yet we don't know who he is. In fact, we don't even know if it's one person.
There have been other cases where identities have been hidden for a while:
- Mysterious Whistleblowers (Deep Throat)
- Mysterious Authors (Ferrante, Klein, Publius)
- Mysterious Artists (Banksy)
- Mysterious Spies / Hackers (Cambridge Five, QAnon figureheads, Cicada 3301)
However, nothing tops the enigma of Satoshi Nakamoto.
Who is Satoshi Nakamoto?
In his book, Wallace writes that any plausible Nakamoto candidate should have the following characteristics:
- Software tools
- Coding quirks
- Age
- Geography
- Schedule
- Use of English
- Nationality
- Prose style
- Politics
- Life circumstances (How had Nakamoto found the time to launch Bitcoin? Why had he left the project when he did?"
- Resume ("I'm not a lawyer.")
- Emotional range (humble, confident, testy, appreciative)
- Motivation to create Bitcoin
- Rationale, and the foresight and skill, to create a bulletproof pseudonym (Who would bother wiping a crime scene clean before it was a crime scene? Who was already that good at privacy in 2008?)
- Monkish capacity to renounce a fortune
Although this list severely restricts who Satoshi Nakamoto could be, it still leaves countless possibilities.
Wallace, who has been trying to crack this mystery for 15 years,
He interviews people who tell him, with 100% certainty, that Satoshi Nakamoto is:
- Nick Szabo
- James A. Donald
- Adam Back
- Hal Finney
- Peter Todd (according to HBO)
- Elon Musk
- Numerous other options
It's tempting to select what you think is the most viable candidate, throw in a heavy dose of confirmation bias, and declare, "Mystery solved, Sherlock!"
Plenty have done so.
It requires great restraint to resist the temptation of calling it a day, and instead, persevere pugnaciously like Wallace has in what is the greatest whodunit of the 21st century.
Many suspects seem highly implausible. Elon Musk, for example, is a bombastic self-promoter who would love to proclaim he was the genius behind Bitcoin. It's unimaginable why he would keep his mouth shut.
Hal Finney was a sincere, honest, and good guy. As he said many times when he was dying of ALS, he had no reason NOT to reveal that he was Satoshi Nakamoto. Therefore, it's not him, even though it would provide a neat explanation as to why the old Satoshi Nakamoto bitcoins haven't moved.
Adam Back is plausible, although ex-cypherpunk Jon Callas says, "The primary argument against Adam Back is he couldn't keep his mouth shut."
Still, an engrossing 3-part documentary argues that Nakamoto is Adam Back. Here's the final episode:
Is Nick Szabo Satoshi Nakamoto?
For several years, I believed Nick Szabo was Satoshi Nakamoto. It was an unoriginal deduction since Szabo is a popular choice among amateur Nakamoto detectives. Indeed, Szabo was one of Wallace's prime candidates for a long time.
However, in his book, Wallace explains why Szabo has too many strikes against him:
- Szabo is a scatterbrain when it comes to projects. He doesn't focus on one thing for years. He juggles 150 balls. Nakamoto was laser-focused for 18 months.
- He told Jeremy Clark that Szabo "seemed to think that his bit gold was better" than Bitcoin.
- Clark also said Szabo is an "incoherent" presenter, whereas Nakamoto was "lucid."
- Although Szabo is intensely private, he's not a complete recluse. He likes sharing ideas and getting public recognition.
- Minor point: Satoshi Nakamoto wrote, "I'm not a lawyer," but Szabo is one.
Although these points suggest Szabo is unlikely to be Satoshi, Szabo remains a strong Nakamoto candidate, given the absence of a perfect candidate.
Besides, Clark's points are easily refuted. Just because Szabo implied Bitgold was better than Bitcoin means little. Szabo could say that to shake off people who think he's Satoshi. Or he could genuinely believe that aspects of Bitgold were superior to Bitcoin. Clark said Szabo "seemed to think..." He didn't say, "Szabo emphatically said..."
Also, I listened to Szabo speak for 2.5 hours on the Tim Ferriss Show, and he sounded plenty lucid to me.
Szabo is a decent speaker at a crypto conference.
Naturally, Szabo always denies he's Satoshi.
As Wallace says, denying you're not the guy proves nothing. Mark Felt was an obvious suspect for being the Deep Throat in the Watergate scandal. He denied for decades. And guess what? He was Deep Throat! Sometimes the most obvious suspect is the criminal (think O.J. Simpson).
Is James A. Donald Satoshi Nakamoto?
After reading The Mysterious Mr. Nakamoto, I added another suspect to my short list: James A. Donald.
Satoshi Nakamoto used the rare term "hosed" a few times. Donald did so twice.
Furthermore, Donald was the first person to respond to Satoshi Nakamoto's original Bitcoin post, albeit in a critical way. He has various other attributes that Satoshi Nakamoto shares (read the book to see them all).
However, Donald is rough around the edges, whereas Satoshi Nakamoto was silky smooth, polite, and unoffensive. Again, James A. Donald is no slam dunk candidate. Nobody is.
Hence, the mystery endures.
The only negative aspect about this book is that it may provide too much detail for the casual reader with limited interest in this mystery. If you're just looking for the answer, I'll tell you now: we do not know who Satoshi Nakamoto is.
For Satoshi sleuths, there is no better resource than The Mysterious Mr. Nakamoto: A Fifteen-Year Quest to Unmask the Secret Genius Behind Crypto. It delves deeper and broader than any video, article, or book about the identity of Satoshi Nakamoto. Believe me, I've gone down that rabbit hole.
Why should we care who Satoshi Nakamoto is?
Many argue we don't need to know who Satoshi Nakamoto is because:
Knowing his identity could taint the "immaculate conception" of Bitcoin because we might learn that Satoshi Nakamoto was an asshole.
We should respect Satoshi Nakamoto's right to privacy. He obviously wanted to be pseudonymous, so let him be.
If Satoshi Nakamoto is alive, it would imbue him with too much power, especially over the Bitcoin protocol.
I strongly disagree with this lack of curiosity. Why?
There's a chance that in the 25th century, historians will consider Bitcoin one of the top 10 inventions of all time. I'm not saying Bitcoin will be around in the 25th century, but something similar will exist and become the global currency, with historians linking its existence to Bitcoin.
In 2001, Arthur C. Clarke predicted that by 2016, "All existing currencies are abolished. A universal currency is adopted based on the 'megawatt hour.'"
Eight years before Clarke's prediction, Bitcoin was created.
Although Clarke was wrong about other currencies being abolished, Bitcoin's value is loosely correlated with its energy consumption. I explain why Bitcoin is worth anything.
Consider the Top 10 Inventions and Their Inventors
Imagine if we didn't know who these inventors were:
The Printing Press - Johannes Gutenberg (c. 1440): This invention revolutionized communication, allowing for the mass production of books and the widespread dissemination of knowledge, leading to the Renaissance and the Scientific Revolution.
The Electric Light Bulb - Thomas Edison (1879): While others experimented with electric lighting, Edison created a practical, long-lasting, and commercially viable incandescent light bulb, which transformed society by extending the day and enabling new industries.
The Telephone - Alexander Graham Bell (1876): The telephone revolutionized long-distance communication, enabling people to speak to each other across vast distances in real time.
The Steam Engine - James Watt (1778): Watt's improvements to earlier steam engines significantly increased their efficiency, powering the Industrial Revolution and leading to the mechanization of factories, transportation, and other industries.
The Automobile - Karl Benz (1885): Benz is credited with creating the first practical automobile powered by an internal combustion engine, ushering in the age of personal transportation and reshaping urban and rural life.
Alternating Current (AC) Electrical System - Nikola Tesla (late 1880s): While Edison championed direct current (DC), Tesla's work on AC made it possible to transmit electricity over long distances, laying the groundwork for modern electrical grids.
The Airplane - Orville and Wilbur Wright (1903): The Wright brothers achieved the first successful controlled, powered flight of a heavier-than-air aircraft, fundamentally changing travel, commerce, and warfare.
Penicillin - Alexander Fleming (1928): Fleming's discovery of the first antibiotic revolutionized medicine by providing a cure for many bacterial infections, saving millions of lives.
The Internet / World Wide Web - Vint Cerf and Bob Kahn (Internet, 1970s) & Tim Berners-Lee (World Wide Web, 1989): These inventions created a global network of information and communication, transforming almost every aspect of modern society, from business and education to personal life.
The Computer - Charles Babbage (early 19th century): Babbage's designs for the "Analytical Engine" laid the theoretical groundwork for modern computers. Later, inventors like John Atanasoff, Alan Turing, and others developed the first electronic and programmable computers.
Imagine if we had no clue who invented penicillin or the telephone. Wouldn't historians do their best to figure that out, especially since they were recent and impactful inventions? Would you just shrug your shoulders and say, "Who cares? My telephone works."
Sure, many wouldn't give a shit. However, for other, more curious minds, we'd like to know.
Major Inventions with Unknown Inventors
Here are four major inventions whose creator is a mystery:
The Wheel: The invention of the wheel is one of the most important technological advancements in human history, enabling transportation and mechanization. Archaeological evidence suggests it originated in Mesopotamia around 3500 BC, but there is no record of who first conceived of it. The challenge wasn't just creating the wheel itself, but also the wheel-and-axle system, which required precise engineering.
Writing: The development of writing systems enabled the permanent storage and transmission of information, transforming human society. The earliest known writing system, cuneiform, emerged in Sumer (ancient Mesopotamia) around 3400 BC. However, like the wheel, it was likely the result of a gradual process of development by many different people, not the work of a single inventor.
Fire making: Some person probably rubbed two sticks together, and the rest is history. Since we can't know who that individual was, it would still be fascinating to know where it started and if it was developed in more than one place independently, like Calculus.
Bitcoin: Yeah, it's a major invention. It's been the best-performing asset since 2010, it's worth more than any company, and Satoshi Nakamoto is the wealthiest person ever. It has sparked a multi-trillion-dollar industry in just 15 years. So, yes, it's important, and yet we don't know who created it.
Verdict: 10 out of 10 stars!
Admittedly, I'm a Bitcoin fan who has produced many videos and articles about the first cryptocurrency, so I'm biased.
Still, if you love a perplexing mystery, you will love trying to solve this one. The good news is that we haven't solved it yet.
My Satoshi Nakamoto Fantasy
There's a good chance that Satoshi Nakamoto is around my age. If so, he also has a 30-year life expectancy.
I hope that in 2050, a video appears on the Internet that shows an old man who says, "I am Satoshi Nakamoto. To prove it, I will do what no Satoshi pretender has been able to do: move the 'Satoshi' coins that have been dormant since I mined them in 2009."
He records himself and his computer screen, and with a few clicks and keyboard taps, the transactions get broadcast onto the Bitcoin blockchain for all to see.
Next, he says, "I am donating my one million bitcoins to the Bitcoin Core for ongoing maintenance and to the following charities." Or perhaps he'll use the one million Bitcoins to create a Bitcoin node on the Moon. Or perhaps he will "burn" his Bitcoin, reducing the total BTC supply to 20 million coins, not 21 million.
Regardless, I hope Nakamoto will finally unmask himself, just like Mark Felt (aka Deep Throat) did when he was 91 (he died at 95).
Yeah, this fantasy is unlikely, but we can dream, can't we?
DISCLOSURE: I interviewed Wallace on my WanderLearn Show.
There have been other cases where identities have been hidden for a while:
- Mysterious Whistleblowers (Deep Throat)
- Mysterious Authors (Ferrante, Klein, Publius)
- Mysterious Artists (Banksy)
- Mysterious Spies / Hackers (Cambridge Five, QAnon figureheads, Cicada 3301)
However, nothing tops the enigma of Satoshi Nakamoto.
Who is Satoshi Nakamoto?
In his book, Wallace writes that any plausible Nakamoto candidate should have the following characteristics:
- Software tools
- Coding quirks
- Age
- Geography
- Schedule
- Use of English
- Nationality
- Prose style
- Politics
- Life circumstances (How had Nakamoto found the time to launch Bitcoin? Why had he left the project when he did?"
- Resume ("I'm not a lawyer.")
- Emotional range (humble, confident, testy, appreciative)
- Motivation to create Bitcoin
- Rationale, and the foresight and skill, to create a bulletproof pseudonym (Who would bother wiping a crime scene clean before it was a crime scene? Who was already that good at privacy in 2008?)
- Monkish capacity to renounce a fortune
Although this list severely restricts who Satoshi Nakamoto could be, it still leaves countless possibilities.
Wallace, who has been trying to crack this mystery for 15 years,
He interviews people who tell him, with 100% certainty, that Satoshi Nakamoto is:
- Nick Szabo
- James A. Donald
- Adam Back
- Hal Finney
- Peter Todd (according to HBO)
- Elon Musk
- Numerous other options
It's tempting to select what you think is the most viable candidate, throw in a heavy dose of confirmation bias, and declare, "Mystery solved, Sherlock!"
Plenty have done so.
It requires great restraint to resist the temptation of calling it a day, and instead, persevere pugnaciously like Wallace has in what is the greatest whodunit of the 21st century.
Many suspects seem highly implausible. Elon Musk, for example, is a bombastic self-promoter who would love to proclaim he was the genius behind Bitcoin. It's unimaginable why he would keep his mouth shut.
Hal Finney was a sincere, honest, and good guy. As he said many times when he was dying of ALS, he had no reason NOT to reveal that he was Satoshi Nakamoto. Therefore, it's not him, even though it would provide a neat explanation as to why the old Satoshi Nakamoto bitcoins haven't moved.
Adam Back is plausible, although ex-cypherpunk Jon Callas says, "The primary argument against Adam Back is he couldn't keep his mouth shut."
Still, an engrossing 3-part documentary argues that Nakamoto is Adam Back. Here's the final episode:
Is Nick Szabo Satoshi Nakamoto?
For several years, I believed Nick Szabo was Satoshi Nakamoto. It was an unoriginal deduction since Szabo is a popular choice among amateur Nakamoto detectives. Indeed, Szabo was one of Wallace's prime candidates for a long time.
However, in his book, Wallace explains why Szabo has too many strikes against him:
- Szabo is a scatterbrain when it comes to projects. He doesn't focus on one thing for years. He juggles 150 balls. Nakamoto was laser-focused for 18 months.
- He told Jeremy Clark that Szabo "seemed to think that his bit gold was better" than Bitcoin.
- Clark also said Szabo is an "incoherent" presenter, whereas Nakamoto was "lucid."
- Although Szabo is intensely private, he's not a complete recluse. He likes sharing ideas and getting public recognition.
- Minor point: Satoshi Nakamoto wrote, "I'm not a lawyer," but Szabo is one.
Although these points suggest Szabo is unlikely to be Satoshi, Szabo remains a strong Nakamoto candidate, given the absence of a perfect candidate.
Besides, Clark's points are easily refuted. Just because Szabo implied Bitgold was better than Bitcoin means little. Szabo could say that to shake off people who think he's Satoshi. Or he could genuinely believe that aspects of Bitgold were superior to Bitcoin. Clark said Szabo "seemed to think..." He didn't say, "Szabo emphatically said..."
Also, I listened to Szabo speak for 2.5 hours on the Tim Ferriss Show, and he sounded plenty lucid to me.
Szabo is a decent speaker at a crypto conference.
Naturally, Szabo always denies he's Satoshi.
As Wallace says, denying you're not the guy proves nothing. Mark Felt was an obvious suspect for being the Deep Throat in the Watergate scandal. He denied for decades. And guess what? He was Deep Throat! Sometimes the most obvious suspect is the criminal (think O.J. Simpson).
Is James A. Donald Satoshi Nakamoto?
After reading The Mysterious Mr. Nakamoto, I added another suspect to my short list: James A. Donald.
Satoshi Nakamoto used the rare term "hosed" a few times. Donald did so twice.
Furthermore, Donald was the first person to respond to Satoshi Nakamoto's original Bitcoin post, albeit in a critical way. He has various other attributes that Satoshi Nakamoto shares (read the book to see them all).
However, Donald is rough around the edges, whereas Satoshi Nakamoto was silky smooth, polite, and unoffensive. Again, James A. Donald is no slam dunk candidate. Nobody is.
Hence, the mystery endures.
The only negative aspect about this book is that it may provide too much detail for the casual reader with limited interest in this mystery. If you're just looking for the answer, I'll tell you now: we do not know who Satoshi Nakamoto is.
For Satoshi sleuths, there is no better resource than The Mysterious Mr. Nakamoto: A Fifteen-Year Quest to Unmask the Secret Genius Behind Crypto. It delves deeper and broader than any video, article, or book about the identity of Satoshi Nakamoto. Believe me, I've gone down that rabbit hole.
Why should we care who Satoshi Nakamoto is?
Many argue we don't need to know who Satoshi Nakamoto is because:
Knowing his identity could taint the "immaculate conception" of Bitcoin because we might learn that Satoshi Nakamoto was an asshole.
We should respect Satoshi Nakamoto's right to privacy. He obviously wanted to be pseudonymous, so let him be.
If Satoshi Nakamoto is alive, it would imbue him with too much power, especially over the Bitcoin protocol.
I strongly disagree with this lack of curiosity. Why?
There's a chance that in the 25th century, historians will consider Bitcoin one of the top 10 inventions of all time. I'm not saying Bitcoin will be around in the 25th century, but something similar will exist and become the global currency, with historians linking its existence to Bitcoin.
In 2001, Arthur C. Clarke predicted that by 2016, "All existing currencies are abolished. A universal currency is adopted based on the 'megawatt hour.'"
Eight years before Clarke's prediction, Bitcoin was created.
Although Clarke was wrong about other currencies being abolished, Bitcoin's value is loosely correlated with its energy consumption. I explain why Bitcoin is worth anything.
Consider the Top 10 Inventions and Their Inventors
Imagine if we didn't know who these inventors were:
The Printing Press - Johannes Gutenberg (c. 1440): This invention revolutionized communication, allowing for the mass production of books and the widespread dissemination of knowledge, leading to the Renaissance and the Scientific Revolution.
The Electric Light Bulb - Thomas Edison (1879): While others experimented with electric lighting, Edison created a practical, long-lasting, and commercially viable incandescent light bulb, which transformed society by extending the day and enabling new industries.
The Telephone - Alexander Graham Bell (1876): The telephone revolutionized long-distance communication, enabling people to speak to each other across vast distances in real time.
The Steam Engine - James Watt (1778): Watt's improvements to earlier steam engines significantly increased their efficiency, powering the Industrial Revolution and leading to the mechanization of factories, transportation, and other industries.
The Automobile - Karl Benz (1885): Benz is credited with creating the first practical automobile powered by an internal combustion engine, ushering in the age of personal transportation and reshaping urban and rural life.
Alternating Current (AC) Electrical System - Nikola Tesla (late 1880s): While Edison championed direct current (DC), Tesla's work on AC made it possible to transmit electricity over long distances, laying the groundwork for modern electrical grids.
The Airplane - Orville and Wilbur Wright (1903): The Wright brothers achieved the first successful controlled, powered flight of a heavier-than-air aircraft, fundamentally changing travel, commerce, and warfare.
Penicillin - Alexander Fleming (1928): Fleming's discovery of the first antibiotic revolutionized medicine by providing a cure for many bacterial infections, saving millions of lives.
The Internet / World Wide Web - Vint Cerf and Bob Kahn (Internet, 1970s) & Tim Berners-Lee (World Wide Web, 1989): These inventions created a global network of information and communication, transforming almost every aspect of modern society, from business and education to personal life.
The Computer - Charles Babbage (early 19th century): Babbage's designs for the "Analytical Engine" laid the theoretical groundwork for modern computers. Later, inventors like John Atanasoff, Alan Turing, and others developed the first electronic and programmable computers.
Imagine if we had no clue who invented penicillin or the telephone. Wouldn't historians do their best to figure that out, especially since they were recent and impactful inventions? Would you just shrug your shoulders and say, "Who cares? My telephone works."
Sure, many wouldn't give a shit. However, for other, more curious minds, we'd like to know.
Major Inventions with Unknown Inventors
Here are four major inventions whose creator is a mystery:
The Wheel: The invention of the wheel is one of the most important technological advancements in human history, enabling transportation and mechanization. Archaeological evidence suggests it originated in Mesopotamia around 3500 BC, but there is no record of who first conceived of it. The challenge wasn't just creating the wheel itself, but also the wheel-and-axle system, which required precise engineering.
Writing: The development of writing systems enabled the permanent storage and transmission of information, transforming human society. The earliest known writing system, cuneiform, emerged in Sumer (ancient Mesopotamia) around 3400 BC. However, like the wheel, it was likely the result of a gradual process of development by many different people, not the work of a single inventor.
Fire making: Some person probably rubbed two sticks together, and the rest is history. Since we can't know who that individual was, it would still be fascinating to know where it started and if it was developed in more than one place independently, like Calculus.
Bitcoin: Yeah, it's a major invention. It's been the best-performing asset since 2010, it's worth more than any company, and Satoshi Nakamoto is the wealthiest person ever. It has sparked a multi-trillion-dollar industry in just 15 years. So, yes, it's important, and yet we don't know who created it.
Verdict: 10 out of 10 stars!
Admittedly, I'm a Bitcoin fan who has produced many videos and articles about the first cryptocurrency, so I'm biased.
Still, if you love a perplexing mystery, you will love trying to solve this one. The good news is that we haven't solved it yet.
My Satoshi Nakamoto Fantasy
There's a good chance that Satoshi Nakamoto is around my age. If so, he also has a 30-year life expectancy.
I hope that in 2050, a video appears on the Internet that shows an old man who says, "I am Satoshi Nakamoto. To prove it, I will do what no Satoshi pretender has been able to do: move the 'Satoshi' coins that have been dormant since I mined them in 2009."
He records himself and his computer screen, and with a few clicks and keyboard taps, the transactions get broadcast onto the Bitcoin blockchain for all to see.
Next, he says, "I am donating my one million bitcoins to the Bitcoin Core for ongoing maintenance and to the following charities." Or perhaps he'll use the one million Bitcoins to create a Bitcoin node on the Moon. Or perhaps he will "burn" his Bitcoin, reducing the total BTC supply to 20 million coins, not 21 million.
Regardless, I hope Nakamoto will finally unmask himself, just like Mark Felt (aka Deep Throat) did when he was 91 (he died at 95).
Yeah, this fantasy is unlikely, but we can dream, can't we?
DISCLOSURE: I interviewed Wallace on my WanderLearn Show.
February 21, 2025
A true crime style meandering mystery through the space of bitcoin. I'm really fascinated by the tech, although the narrative was scattered in parts, partly due to the elusive nature of the titular Mr.Nakamoto and the lack of any true resolution.
May 3, 2025
This book could easily have been called HIstory of the cyberpunks because all the suspects for Satoshi came out of this group and the research while exhaustive, proved nothing. The author spent 15 years making bad guesses but it was out of a small data set that I was never convinced was the right set. There was a lot of names thrown at you and it was tedious hearing interview after interview of people telling him you got it wrong. The author should have taken a better look at this project and been honest that there’s nothing interesting here and given up before wasting so much time.
March 31, 2025
I’m new to this story, so I am maybe more impressed with this book than someone coming to it with more familiarity. Still, as a portrait of a near-obsession, it has its moments beyond the amazing story at its heart.
And that story is amazing.
With apologies to the (apparently) many who have been following it for more than a decade, “we” – the public world – do not know who invented cryptocurrency. The original code and its accompanying white paper are attributed to Satoshi Nakamoto, but that is almost certainly a pseudonym.
In other words, perhaps the most influential inventor of the 21st century (which is still relatively young, of course) is a full-on mystery. Somewhere, there is a man – or woman or group of people – with the code to $40 billion-plus in unclaimed bitcoin, enough, quite likely, to tamper with the market and cause untold economic damage. Or, otherwise, to live as one of the 200 or so wealthiest people in the world.
And that person/people refuses to step forward.
Benjamin Wallace wrote a story on that mystery for Wired Magazine roughly 15 years ago. Ever since, he has sorted through one theory after another that’s gained traction, borne scrutiny, and collapsed.
Wallace opens this with himself on the brink of confronting James A. Donald, a one-time cyber-punk who’d hidden from the world in an obscure Australian town. He has, he implies, solved the mystery.
In other words, Wallace wraps this up with a meditation on what the mystery of Nakamoto means for us. In a moment where each of us is subject to surveillance if we happen merely to mention a product in range of a Siri-enabled-machine, it’s inspiring to have the sense of a Zorro-like figure who fought big-government/big-tech and won on their terms.
It’s a compelling story, bravely told by someone who failed to crack it, and it certainly compelled me to read it hot off the press.
And that story is amazing.
With apologies to the (apparently) many who have been following it for more than a decade, “we” – the public world – do not know who invented cryptocurrency. The original code and its accompanying white paper are attributed to Satoshi Nakamoto, but that is almost certainly a pseudonym.
In other words, perhaps the most influential inventor of the 21st century (which is still relatively young, of course) is a full-on mystery. Somewhere, there is a man – or woman or group of people – with the code to $40 billion-plus in unclaimed bitcoin, enough, quite likely, to tamper with the market and cause untold economic damage. Or, otherwise, to live as one of the 200 or so wealthiest people in the world.
And that person/people refuses to step forward.
Benjamin Wallace wrote a story on that mystery for Wired Magazine roughly 15 years ago. Ever since, he has sorted through one theory after another that’s gained traction, borne scrutiny, and collapsed.
Wallace opens this with himself on the brink of confronting James A. Donald, a one-time cyber-punk who’d hidden from the world in an obscure Australian town. He has, he implies, solved the mystery.
In other words, Wallace wraps this up with a meditation on what the mystery of Nakamoto means for us. In a moment where each of us is subject to surveillance if we happen merely to mention a product in range of a Siri-enabled-machine, it’s inspiring to have the sense of a Zorro-like figure who fought big-government/big-tech and won on their terms.
It’s a compelling story, bravely told by someone who failed to crack it, and it certainly compelled me to read it hot off the press.
January 12, 2026
The Mysterious Mr. Nakamoto sets out to investigate one of the defining mysteries of the digital age: who created Bitcoin, and why they vanished. If you come to the book hoping for a definitive answer, you will be disappointed. Having finished it, I am no closer to knowing who Satoshi Nakamoto really was—or is. But that turns out not to be a failure of the book so much as a reflection of its subject.
Rather than solving the mystery, Benjamin Wallace offers a rich and engaging exploration of Bitcoin’s origins, its early community, and the ideological world that shaped it. The book functions as a guided tour through the cypherpunk movement and the cast of developers, cryptographers, libertarians, and entrepreneurs who surrounded Bitcoin’s birth. Many of these figures are fascinating in their own right, and Wallace is at his best when sketching their motivations, contradictions, and obsessions.
Wallace also does a solid job explaining Bitcoin’s technical and economic foundations without overwhelming the reader, though the underlying complexity remains evident. The book makes clear why Bitcoin appeals to privacy advocates, anti-statists, and institutional skeptics—and why the same qualities also attract illicit activity. In that sense, Bitcoin emerges as neither savior nor villain, but as a technology whose consequences depend on human values and incentives.
One of the book’s more interesting threads is the comparison between Bitcoin and fiat currencies. Both rely on collective trust; the difference lies in what that trust is anchored to—institutions and states on one side, cryptography and decentralized consensus on the other. Wallace treats this distinction thoughtfully, without falling into easy evangelism or dismissal.
The question of Nakamoto’s untouched fortune—potentially around a million bitcoins—hovers over the entire narrative. Wallace examines the leading theories, but none feel conclusive. The continued silence and inaction only deepen the enigma, reinforcing the idea that Nakamoto’s disappearance may be integral to Bitcoin’s legitimacy.
In the end, the book left me not with answers, but with sharper questions about money, trust, privacy, and the politics of technology. It also evokes a time when cryptography felt transgressive rather than invisible. That lingering effect may be the book’s greatest strength: it succeeds not by unmasking Nakamoto, but by reminding us why the mystery matters.
For a longer and more reflective discussion, see the full blog post here:
https://hmpublishing.blogspot.com/202...
Rather than solving the mystery, Benjamin Wallace offers a rich and engaging exploration of Bitcoin’s origins, its early community, and the ideological world that shaped it. The book functions as a guided tour through the cypherpunk movement and the cast of developers, cryptographers, libertarians, and entrepreneurs who surrounded Bitcoin’s birth. Many of these figures are fascinating in their own right, and Wallace is at his best when sketching their motivations, contradictions, and obsessions.
Wallace also does a solid job explaining Bitcoin’s technical and economic foundations without overwhelming the reader, though the underlying complexity remains evident. The book makes clear why Bitcoin appeals to privacy advocates, anti-statists, and institutional skeptics—and why the same qualities also attract illicit activity. In that sense, Bitcoin emerges as neither savior nor villain, but as a technology whose consequences depend on human values and incentives.
One of the book’s more interesting threads is the comparison between Bitcoin and fiat currencies. Both rely on collective trust; the difference lies in what that trust is anchored to—institutions and states on one side, cryptography and decentralized consensus on the other. Wallace treats this distinction thoughtfully, without falling into easy evangelism or dismissal.
The question of Nakamoto’s untouched fortune—potentially around a million bitcoins—hovers over the entire narrative. Wallace examines the leading theories, but none feel conclusive. The continued silence and inaction only deepen the enigma, reinforcing the idea that Nakamoto’s disappearance may be integral to Bitcoin’s legitimacy.
In the end, the book left me not with answers, but with sharper questions about money, trust, privacy, and the politics of technology. It also evokes a time when cryptography felt transgressive rather than invisible. That lingering effect may be the book’s greatest strength: it succeeds not by unmasking Nakamoto, but by reminding us why the mystery matters.
For a longer and more reflective discussion, see the full blog post here:
https://hmpublishing.blogspot.com/202...
March 3, 2025
I received an advanced uncorrected proof from a Goodreads giveaway.
I struggled a bit to decide what to rate this book and I think a large part of that can be summed up by part of a quote included in the book “Satoshi clearly values his privacy, and perhaps the best way to show respect and gratitude for his creation is to honor his wishes.” While I find the author’s journey interesting I continued to fall back on this point. The idea of anonymity online is sacred to some and trying to peel back the mask can be seen as overstepping in my opinion but I also tend to try to limit my own digital footprint and so it may be my own ideology that made me keep playing the sentence over in my head.
While I did learn a lot about the origin and some very intelligent people around Bitcoin’s release I felt that the author kept whipping my head around to look at some new person who had varying degrees of pertinence to the overall story. The depth at which they further explored each individual varied significantly, some certainly deserved to be explored but others just felt like fillers. I perceived a slight timeline or main thread being chased through the book however there were many points where it felt like the thread was lost or the timeline shattered which made me further feel lost.
My final thoughts are that this was an interesting read overall. This book touched on many different topic areas outside of Bitcoin as well which I think really helped paint a picture of the digital group they were focused on. I believe the author summed up their likeliest candidate without outright saying it in a tactful way and should undeniably proof ever truly be presented I would be interested to see how their claim holds up, they made a decent case in my opinion.
Thank you for the opportunity to read the book early.
I struggled a bit to decide what to rate this book and I think a large part of that can be summed up by part of a quote included in the book “Satoshi clearly values his privacy, and perhaps the best way to show respect and gratitude for his creation is to honor his wishes.” While I find the author’s journey interesting I continued to fall back on this point. The idea of anonymity online is sacred to some and trying to peel back the mask can be seen as overstepping in my opinion but I also tend to try to limit my own digital footprint and so it may be my own ideology that made me keep playing the sentence over in my head.
While I did learn a lot about the origin and some very intelligent people around Bitcoin’s release I felt that the author kept whipping my head around to look at some new person who had varying degrees of pertinence to the overall story. The depth at which they further explored each individual varied significantly, some certainly deserved to be explored but others just felt like fillers. I perceived a slight timeline or main thread being chased through the book however there were many points where it felt like the thread was lost or the timeline shattered which made me further feel lost.
My final thoughts are that this was an interesting read overall. This book touched on many different topic areas outside of Bitcoin as well which I think really helped paint a picture of the digital group they were focused on. I believe the author summed up their likeliest candidate without outright saying it in a tactful way and should undeniably proof ever truly be presented I would be interested to see how their claim holds up, they made a decent case in my opinion.
Thank you for the opportunity to read the book early.
August 27, 2025
Rating if you are knowledgeable about Bitcoin: 5 stars. Rating if you are not: 3.5 stars.
If you know about Bitcoin, this book is an explanation into one of the great mysteries of our world today: Who created Bitcoin? In some ways, the book is just that, and it certainly is the thrust of the book. But the question is also a way to explore the history of Bitcoin beginning in 2009 and bringing it up to the present. If you are familiar with the history, it is a great review of the OG Bitcoiners who got us to where we are today, as well as the notable history, humorous or otherwise. The Big Block wars, the "outing" of Dorian Nakamoto by Newsweek, Craig Wright and the 2021-2022 crash, along with a lot of other things.
The book also goes in depth into major personalities in Bitcoin, which is enjoyable. We meet people like Adam Back, Hal Finney and Nick Szabo, along with some lesser known figures like Len Sassaman and others I can't even remember who are serious Satoshi Nakamoto contenders. Wallace makes a great point in that Bitcoiners tend to see Satoshi as a great saint of the "Bitcoin religion", but it could be that she/he/they weren't a great person. They also could have been stupid enough to have lost their private keys. We just don't know.
I was impressed to the depths that Wallace went. He reviewed most, if not all of the attempts to identify Satoshi, including the YouTuber Barely Sociable, who first got me interested in the question. He also has gone to great lengths to identify candidates - doing linguistic and coding analysis as well as flying to Australia to connect with a potential candidate. Wallace's writing is always lively. If you don't like Bitcoin, try "The Billionaire's Vinegar", which is also good. This is a quick read about an intriguing topic and a lot of fun as well.
If you know about Bitcoin, this book is an explanation into one of the great mysteries of our world today: Who created Bitcoin? In some ways, the book is just that, and it certainly is the thrust of the book. But the question is also a way to explore the history of Bitcoin beginning in 2009 and bringing it up to the present. If you are familiar with the history, it is a great review of the OG Bitcoiners who got us to where we are today, as well as the notable history, humorous or otherwise. The Big Block wars, the "outing" of Dorian Nakamoto by Newsweek, Craig Wright and the 2021-2022 crash, along with a lot of other things.
The book also goes in depth into major personalities in Bitcoin, which is enjoyable. We meet people like Adam Back, Hal Finney and Nick Szabo, along with some lesser known figures like Len Sassaman and others I can't even remember who are serious Satoshi Nakamoto contenders. Wallace makes a great point in that Bitcoiners tend to see Satoshi as a great saint of the "Bitcoin religion", but it could be that she/he/they weren't a great person. They also could have been stupid enough to have lost their private keys. We just don't know.
I was impressed to the depths that Wallace went. He reviewed most, if not all of the attempts to identify Satoshi, including the YouTuber Barely Sociable, who first got me interested in the question. He also has gone to great lengths to identify candidates - doing linguistic and coding analysis as well as flying to Australia to connect with a potential candidate. Wallace's writing is always lively. If you don't like Bitcoin, try "The Billionaire's Vinegar", which is also good. This is a quick read about an intriguing topic and a lot of fun as well.
August 18, 2025
"It’s like horror movies. Twenty, thirty years ago, when effects weren’t nearly as good, you didn’t show the monster until the last scene, but it was terrifying in your mind, because the story was good. And then you see the monster, and he’s a rubber puppet, but it didn’t matter, because you already scared yourself through the whole film. You’d fill in those blanks yourself."
"the parable of the policeman who finds a drunk looking for his keys under a streetlamp. After the man acknowledges that he lost the keys in some nearby bushes, the cop asks why he’s looking under the lamp. “This is where the light is,” the drunk says."
"I think mystery is sometimes difficult to resist. I go back and forth too. On the one hand, you have something that has become such a large part of the zeitgeist that it almost feels like an incomplete story with the name not being known to people."
'to associate epic outcome with an epic motive. Perhaps that is an unnecessary stretch.”
"Satoshi Nakamoto was something that whoever was behind the pseudonym could never be. It was a name and an idea and, without a body or a history to drag it down, it would live forever."
This is what master class investigative reporting is supposed to show - both sides of the coin. Pun intended.
"the parable of the policeman who finds a drunk looking for his keys under a streetlamp. After the man acknowledges that he lost the keys in some nearby bushes, the cop asks why he’s looking under the lamp. “This is where the light is,” the drunk says."
"I think mystery is sometimes difficult to resist. I go back and forth too. On the one hand, you have something that has become such a large part of the zeitgeist that it almost feels like an incomplete story with the name not being known to people."
'to associate epic outcome with an epic motive. Perhaps that is an unnecessary stretch.”
"Satoshi Nakamoto was something that whoever was behind the pseudonym could never be. It was a name and an idea and, without a body or a history to drag it down, it would live forever."
This is what master class investigative reporting is supposed to show - both sides of the coin. Pun intended.
August 28, 2025
This is a fun real-life mystery. I'm not into true crime because of the implications for victims; this is more on par with the Max Headroom Broadcast as far as seriousness.
This book chronicles the author's obsession with identifying Satoshi Nakamoto, creator of Bitcoin, even as he acknowledges Satoshi's desire for privacy (which is generally honored by the Bitcoin community). There's a number of Satoshi potentials. I was finding it difficult to keep them straight at points. A timeline would have been very helpful. Or maybe a chart with the specs on each guy.
The writing felt a little jumbled in places for me, also. I had to reread sentences to figure out what modifier is applying to what.
In all, an interesting read. Would recommend for Michael Lewis readers. Having any understanding of programming or crypto is not a pre-requisite.
This book chronicles the author's obsession with identifying Satoshi Nakamoto, creator of Bitcoin, even as he acknowledges Satoshi's desire for privacy (which is generally honored by the Bitcoin community). There's a number of Satoshi potentials. I was finding it difficult to keep them straight at points. A timeline would have been very helpful. Or maybe a chart with the specs on each guy.
The writing felt a little jumbled in places for me, also. I had to reread sentences to figure out what modifier is applying to what.
In all, an interesting read. Would recommend for Michael Lewis readers. Having any understanding of programming or crypto is not a pre-requisite.
April 9, 2025
Toying with 3 or 4 stars on the rating.
Why this book is worthy: if you are relatively new to cryptocurrency players, it’s a fascinating dive into the intersection of all types of disparate things from libertarian ideals, distrust, belief in the ability to solve anything including life extension, anonymity, and more. Given the rise to political power of the tech bros, this insight can be helpful in making sense of what others see as destructive or chaos. This work of the author is impressive.
Unfortunately, the downside of the comprehensive leg work and the author’s commitment to understanding and evaluating the clues, leads the reader to through a lengthy corridor or names, technologies, and citations that sometimes become weighty. “I can live on a hill with my secure Bitcoin” is devoid of empathy and any care for the natural resources that have to be used to create and store this data. While these claims are framed as a utopia, where’s the dys?
Not until page 238 (of the 298 pages in my ARC), does a candidate say that he hasn’t speculated on Bitcoin “because….because I have morals. I’m not prepared to make money by burning the planet.” (Ben Laurie)
I am familiar enough with the legend to not expect the author to actually find the identify of Nakamoto, so I wasn’t disappointed. Actually, I was intrigued that a reporter, albeit with a tech pub for some time, had the drive to think that he could unmask the identity. Was he vain? Naive? Or what?
Why this book is worthy: if you are relatively new to cryptocurrency players, it’s a fascinating dive into the intersection of all types of disparate things from libertarian ideals, distrust, belief in the ability to solve anything including life extension, anonymity, and more. Given the rise to political power of the tech bros, this insight can be helpful in making sense of what others see as destructive or chaos. This work of the author is impressive.
Unfortunately, the downside of the comprehensive leg work and the author’s commitment to understanding and evaluating the clues, leads the reader to through a lengthy corridor or names, technologies, and citations that sometimes become weighty. “I can live on a hill with my secure Bitcoin” is devoid of empathy and any care for the natural resources that have to be used to create and store this data. While these claims are framed as a utopia, where’s the dys?
Not until page 238 (of the 298 pages in my ARC), does a candidate say that he hasn’t speculated on Bitcoin “because….because I have morals. I’m not prepared to make money by burning the planet.” (Ben Laurie)
I am familiar enough with the legend to not expect the author to actually find the identify of Nakamoto, so I wasn’t disappointed. Actually, I was intrigued that a reporter, albeit with a tech pub for some time, had the drive to think that he could unmask the identity. Was he vain? Naive? Or what?
This entire review has been hidden because of spoilers.
May 21, 2025
In Under the Silver Lake, Andrew Garfield’s character is told “We crave mystery because there’s none left” and the identity of Satoshi Nakamoto seems like one of the great mysteries still left and one that has been in and out of my mind for ten years.
This book does a really good job at highlighting all the suspects and their contributions to bitcoin or lack there of. But it also gives a good background on the groups like cypher punks and extropians who many of the likely suspects were a part of. This is where the book is most interesting learning about early internet groups, what they did and what they were interested in. It creates a very good through line from early digital cryptography to bitcoin’s creation. It does a good job of explaining these intricate concepts without getting too technical or wordy. But If you’re looking for answers on who Satoshi is this book does lay out a lot of theories to a lot of people but not much in concrete answers. It’s more of a who’s who on early bitcoin developers. Which makes for a fun any yet still satisfying read.
This book does a really good job at highlighting all the suspects and their contributions to bitcoin or lack there of. But it also gives a good background on the groups like cypher punks and extropians who many of the likely suspects were a part of. This is where the book is most interesting learning about early internet groups, what they did and what they were interested in. It creates a very good through line from early digital cryptography to bitcoin’s creation. It does a good job of explaining these intricate concepts without getting too technical or wordy. But If you’re looking for answers on who Satoshi is this book does lay out a lot of theories to a lot of people but not much in concrete answers. It’s more of a who’s who on early bitcoin developers. Which makes for a fun any yet still satisfying read.
May 15, 2025
What a fascinating mystery—Benjamin Wallace has a gift for bringing these enigmatic figures to life. The story of Satoshi Nakamoto is like a modern-day legend: part tech genius, part ghost story. It's incredible how something designed with such idealism sparked a movement that continues to evolve and polarize.
Speaking of idealistic beginnings and digital revolutions, it reminds me how important it is today—especially in tech and crypto industries—to have trustworthy support systems. At Intercept of Florida, we provide 24/7 professional answering services that help startups, law firms, and even fintech ventures stay connected and responsive. In a world where anonymity and automation dominate, human connection still matters.
Curious to know what others think—do you believe Satoshi will ever come forward? Or is the mystery part of what gives Bitcoin its mythos?
Speaking of idealistic beginnings and digital revolutions, it reminds me how important it is today—especially in tech and crypto industries—to have trustworthy support systems. At Intercept of Florida, we provide 24/7 professional answering services that help startups, law firms, and even fintech ventures stay connected and responsive. In a world where anonymity and automation dominate, human connection still matters.
Curious to know what others think—do you believe Satoshi will ever come forward? Or is the mystery part of what gives Bitcoin its mythos?
May 31, 2025
Ain’t no damn solution to the question Who is Satoshi Nakamoto? Meticulously, obsessively researched, one feels empathy for the author having undertaken a fruitless quest. Raises more questions than answers. Too much about cypherpunk background and morbid idiocy of extropians thinking their bitcoin is the currency they’ll use when resuscitated after being cryogenically frozen until their lives can be reanimated. The image of blood and feces of mentally unwell contenders for possible Satoshis was a bit too gut-wrenching a detail.
Too much cybertopia but the treatment and narrative handling are good. Almost tarnished by the characters themselves who are just kind of despicable. These people’s lives are just sad.
I hope Ben Wallace is now free to pursue other things now with the same degree of passion and neuroticism.
Too much cybertopia but the treatment and narrative handling are good. Almost tarnished by the characters themselves who are just kind of despicable. These people’s lives are just sad.
I hope Ben Wallace is now free to pursue other things now with the same degree of passion and neuroticism.
This entire review has been hidden because of spoilers.
August 17, 2024
Obviously what I've read is a pretty early version, the "tk's" in the notes section were proof enough of that, but architecturally this is a pile of scrambled eggs, it would need an editorial pass or three to qualify for four stars - the potential is there, for sure, it just needs to be extracted from authorial chaos. Wallace (for all that he shows in the moments of dazzle) throws in plenty of redundancy here, calls up the same quotes three or four times, meanders from one thread in the plot to another as fancy moves him, leaving some dangling. I grant that the story he covers is messy, but piling messiness on messiness does not clarify anything. (I double dog dare anybody to find rhyme or reason in chapter titles). And so, man took on a fascinating subject, and, I think, failed. A pity.
April 15, 2025
Fifteen years? Geez. I'd be ready to put a bullet in my brain if I worked on something for fifteen years and this was all I got out of it. I guess it's about the journey, not the destination, but, still, when your stated goal is to find a person's true identity and then after fifteen years you come up with so little, it has to be frustrating. Less than halfway through the book, I came to the conclusion that it is better to never find the true Satoshi Nakamoto - Better for him (them); better for Bitcoin, better for all of us. So from that point on the book began to radiate negative energy for me. By the end, Mr. Wallace came to pretty much the same conclusion as I did, but I wished that it had taken him ten less years and a hundred and fifty less pages to get there.
December 29, 2025
A book that should have been a blog post. Interesting facts about the cypherpunks (IYKYK) and fun to revisit the start of the cypto craze (long before it was cool...or a craze). But behind any book that starts by alluding to the fact that Elon Musk is Satoshi Nakamoto, someone who for 15 years has made a point to be anonymous, humble, and not touch a dime of their Bitcoin, is an author who knows they need to name drop to get readers. I didn't buy it for that. I have a long standing interest in cyptocurrency and so, while it took me months to get through it, I learned a couple of things. But unless you feel the need to go deep (DEEP) into tangential connections, wait for the blog post.
August 1, 2025
I'm not much of a crypto fan, but I was entertained by this account of a writer trying to get to the bottom of the mystery that surrounds the identity of Bitcoin's creator. The author interviews just about everyone who could be Satoshi Nakamoto, does analysis of Nakamoto's writings and code, travels thousands of miles around the globe, and still ends up without definitive answers - nevertheless, his quest still kept my interest. Of course, if you don't have any interest in tech or finance, you may be less enthused, even though the author does his best to make the story accessible.
June 9, 2025
A thoroughly well researched and written journey of 15 years, looking for someone who either doesn’t exist or doesn’t want to be found. And as an afterthought, maybe it doesn’t matter anyway. The best thing about this book for me at least, is a better understanding of the cryptocurrency culture, and maybe even a window into the current comfort people take in conspiracy theories and being part of communities that celebrate alternative views of things most of society takes for granted.
June 13, 2025
I'm not sure what I expected from this book but it definitely was not what anything like what it is. Part mystery and part history and all about the strange world of Bitcoin. It seems to delve into the background of a lot of bit players in the cypherpunk world. Then meanders around the thoughts of the author and his struggles in this years long investigation.
I won this in one of the giveaways.
I won this in one of the giveaways.
August 5, 2025
Benjamin Wallace does a 15-year deep dive into the world of crypto, even learning to code, trying to discover the person or group behind the genius. The book describes everyone he interviews, he suspects, the groups he attends and the black group chats he is able to attend. What a ride with a disappointing end. It appears that Mr. Nakamoto will never be found.
I learned so much about the legacy of crypto and the geniuses behind it.
I learned so much about the legacy of crypto and the geniuses behind it.
March 25, 2025
I don't know if I learned anything from this book. I honestly am not 100% sure why this book was written, other than that Wallace had a contract for it. But I honestly do love the genre of a smart person who writes well trying to find out the answer to a mystery that fascinates them, so I have read this entire book lol
June 5, 2025
Bitcoin like who built Stonehenge, The Voynich Manuscript, and the Roanoke Colony; was a complete mystery to me. While I know a bit more on the on the who and what of Bitcoin, I still cannot speak intelligibly on the subject. Wallace was clearly dedicated in his quest to discover Mr. Nakamoto, and I appreciate that. The line I understood the most was "People are dumb.".
September 3, 2025
Even before reading this book, I already knew how it would end. I wasn't disappointed. It is well-written and researched. Plus, it gave me a better understanding of Bitcoin, in general. Although, I still do not quite see the appeal of something intangible that can lose value based on the whims of the few. ¯\_(ツ)_/¯
December 12, 2025
I'm not entirely sure what I wanted this book to be, but I know it wasn't it. With a story like this (which doesn't have a clear resolution) the only real things you have to work with are the storytelling itself and the lessons you draw from the story. I feel like the storytelling was just decent and the lessons were basically non-existent, so overall I'm just left feeling kinda "meh"...
April 15, 2025
Certainly not a read for everyone, but I think it hit the spot for me as someone in tech but not a huge fan of crypto.
In general the main issue is the book is a bit too repetitive, but it covers a lot of interesting material and is genuinely a fun read a lot of the time.
I appreciate the ARC.
In general the main issue is the book is a bit too repetitive, but it covers a lot of interesting material and is genuinely a fun read a lot of the time.
I appreciate the ARC.
July 4, 2025
Not a very informative, detailed book. Easy to read, but really didn't add much to my knowledge base, wisdom or have high entertainment value. There has to be much better books that revolve around Bitcoin.
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