A man accused of being the mysterious founder of Bitcoin has responded to the shock claims.
The New York Times suggested in a bombshell article that, after a lengthy investigation, a British Bitcoin developer is the person behind the pseudonym Satoshi Nakamoto, the man who started it all.
Bitcoin currency was born in 2009, with the first transaction occurring on 12 January of that year, and it has gone on to become one of the most used online currencies in the world.
In the piece, journalist John Carreyrou says that early emails and online posts are comparable to writings attributed to Nakamoto.
Advert
It appears that the investigation highlighted similarities in language, ideas and interests, suggesting that his work on cryptographic technologies may have influenced or overlapped with the development of the volatile cryptocurrency.
Adam Back insists he isn't the Bitcoin founder
Despite the detailed investigation, however, Adam Back has denied the allegations, saying that it is a case of 'confirmation bias'.
The Blockchain CEO and computer scientist explained on X: "I'm not Satoshi, but I was early in laser focus on the positive societal implications of cryptography, online privacy and electronic cash.
"Hence my ~1992 onwards active interest in applied research on ecash, privacy tech on cypherpunks list which led to hashcash and other ideas.
"@JohnCarreyrou in his NYT research finds like @AaronvanW in his 'genesis block' book, many interesting bitcoin analogs in early attempts to create a decentralised ecash, in effect prototype ideas trying to figure out a bitcoin-like thing, including p2p, BGP, proof of work."
He continued: "For his quote 'I’m not saying I’m good with words but I sure did a lot of yakking on these lists actually the broader context was my observation that because I was talkative on the list, and known to have an active interest in e-cash."
Back admitted that 'there's some confirmation bias in finding my comments frequently on e-cash topics, due to my volume I'd more likely have commented than others with similar interests but posting 20x less'.
"I offered this to John as an explanation of why this can be seen as a form confirmation bias, that should be statistically corrected for," he said.
Back went on to say that 'the rest of a combination of coincidence and similar phrases from people with similar experience and interests'.
He also clarified that he has no idea who Nakamoto is and that he thinks it's 'good for bitcoin that this is the case, as it helps bitcoin be viewed a new asset class, the mathematically scarce digital commodity'.
On how much Bitcoin he currently holds, Back admitted 'not enough'.
"Ofc kicking myself for not mining in anger in 2009. Hindsight is always 20:20 in trading, so I'm relaxed about that 'could-have should-have' as a trader," he penned.
Back obviously hasn't done too bad for himself, from inventing Hashcash in 1997 to co-founding Blockstream in 2014.
Seriously, though, will the real Satoshi Nakamoto please stand up?
Anish Vij