Bitcoin’s Mysterious Creator and Quantum Computing
Satoshi Nakamoto, the enigmatic and pseudonymous creator of Bitcoin, has stayed out of sight since his last communication in 2011, when he remarked that he had “moved on to other things.”
However, Joseph Chalom, co-CEO of SharpLink Gaming, has a “wild theory” suggesting that Nakamoto may choose to reveal himself when the original cryptocurrency faces a significant threat from quantum computing.
Some experts are convinced that quantum computing could pose an “existential crisis” for Bitcoin within the next ten years, prompting the community to explore methods for making the network quantum-proof. Proposals include the possibility of a quantum-proofing hard fork, as well as suggestions to freeze Satoshi’s coins that may be vulnerable to quantum attacks.
Chalom, who co-leads the $3.6 billion Ethereum treasury company, stated in an interview last week that he believes the Bitcoin founder might choose to reveal his identity when confronting this challenge.
“I have a wild idea that at some point—five, 10 years from now—when the Bitcoin network needs to be quantum-proofed, there will be some really important decisions around standards and encryption,” explained Chalom. “There’ll be decisions about whether you need to hard fork the protocol [and] what you do with wallets that are dormant.”
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“When that quantum moment comes, somebody is going to wake up and say: ‘I don’t want to be forked.’ Or someone’s going to wake up and say: ‘Fork me.’ That’s a lot of money to leave on the table,” he added.
Chalom further noted that this theory is not grounded in factual evidence and is simply one more audacious concept amidst the 17 years of speculation surrounding Satoshi’s identity. Nonetheless, he opined that if his theory holds merit, Satoshi might disclose himself through “some old, OG accounts” that haven’t been utilized in a considerable period.
These older accounts might encompass any wallets commonly thought to belong to Satoshi, which have been identified through a technique known as the Patoshi Pattern. As of this writing, these wallets contain 1.096 million BTC, valued at around $121.9 billion, according to Arkham data.
This places the elusive founder as the 12th richest individual globally, according to Forbes, whereas a 23% increase to $150 billion would elevate him into the top 10. Predictions from Myriad suggest that such a shift is not imminent, with 90% voting against Satoshi achieving a net worth of $150 billion by September.
The revival of old accounts could also mean the reactivation of known Satoshi-associated email addresses or his Bitcointalk forum account. Should these accounts become active again to express Satoshi’s views, it may not necessarily indicate a revelation of his true identity.
Since the Bitcoin white paper was first written in 2008, countless theories regarding Satoshi’s identity have emerged. Various individuals from early Bitcoin adopters to government agencies and even Elon Musk have been named as possible candidates. Nevertheless, Bitcoin supporters have yet to converge on any singular figure.
In 2024, HBO sought to uncover the identity of the elusive creator in a documentary that claimed Bitcoin Core developer Peter Todd was Satoshi.
Director Cullen Hoback of “Money Electric: The Bitcoin Mystery” pointed to a forum post from Todd directed to Satoshi, arguing that Todd appeared to treat both accounts as if he controlled them. The documentary also pointed to various clues, including Todd’s writing style, his past involvement with digital currencies, and his programming expertise.
Ultimately, however, the crypto community dismissed this speculation as unfounded and based on incorrect assumptions. Todd also rebutted the claim by stating on social media, “I’m not Satoshi.”
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As it stands, the mystery continues—yet if Chalom’s prediction proves accurate, the impending quantum challenge may coax Bitcoin’s creator out of hiding once more.
