Bitcoin's New Big Top Attraction: The Squabble Over Its Founding
Bitcoin, one of the hottest topics in the world of technology, business, and international finance, now officially has a sideshow: the debate over who founded it.
Newsweek rocked the Bitcoin world on Thursday when it published a long profile purporting to have found the shadowy creator of the worlds' most popular, and mercurial, cryptocurrency.
As we reported yesterday, Newsweek reporter Leah McGrath Goodman's two-month investigation led her to Dorian Prentice Satshi Nakamoto, an unassuming family man in his 60s living in the Los Angeles area, whose name matches that of the author (until now, thought to be a pseudonym) of the paper that established Bitcoin, Satoshi Nakamoto. The article was immediately met with a mixture of admiration for the work that went into its reporting, as well as skepticism, since the lengthy profile didn't include many hard facts and specific pieces of evidence.
However, Nakamoto was quoted in the profile as saying to Goodman "I am no longer involved in that and cannot discuss it," seemingly confirming the truth behind her conclusions.
Nakamoto, Chased by Reporters, Denies Founding Bitcoin
But early on Friday, the Associated Press published an exclusive report based on a two-hour interview with the 64 year-old Nakamoto, in which he denies having anything to do with Bitcoin and says he "had never heard of it until his son told him he had been contacted by a Newsweek reporter" weeks ago.
"I got nothing to do with it," Nakamoto said "repeatedly" according to the AP report.
Meanwhile reporters had stalked out Nakamoto's house after the Newsweek piece included a photo of his home and his full name. This eventually led to a pseudo-car chase, according to CNET, in which members of the media hungry for a scoop followed the AP reporter's car and updated Twitter in real time -- all while Nakamoto was just trying to grab some lunch.
It wouldn't be inconceivable that Nakamoto denied the report after his first day in the media circus because he wanted all of this attention to go away, even though he truly was Bitcoin's founder, but then another strange thing happened.
More Funny Stuff
According to Business Insider, a social network account known to have been used by the actual Bitcoin founder Satoshi Nakamoto "suddenly came alive after nearly five years of dormancy" and simply wrote, "I am not Dorian Nakamoto."
Newsweek put out a statement defending Goodman's research and the Nakamoto profile, saying "Newsweek stands strongly behind Ms. Goodman and her article. Ms. Goodman's reporting was motivated by a search for the truth surrounding a major business story, absent any other agenda. The facts as reported point toward Mr. Nakamoto's role in the founding of Bitcoin."
Goodman herself responded in the AP report, saying, "I stand completely by my exchange with Mr. Nakamoto. There was no confusion whatsoever about the context of our conversation -- and his acknowledgement of his involvement in Bitcoin."
Where's the Truth?
The fact that D. Nakamoto has been hounded by the media immediately following the Newsweek cover story suggests that he has a motive to deny the claims. The timing of the previously known social media account of Bitcoin's founder becoming active, the same day Nakamoto discovered he was now part of Bitcoin's sideshow media circus, is suspicious as well. And Newsweek is clearly confident about its reporting, despite the "AP exclusive," breathlessly put together in a day.
So is Nakamoto the founder of Bitcoin? One thing is clear: With all of the media pressure suddenly on Nakamoto and a media treasure hunt now ongoing to find the founder, the truth will out soon -- if it hasn't already.