Who Are the Founders of Bitcoin?

  • 2023 Oct 17

Bitcoin’s enigmatic creator operates under the pseudonym Satoshi Nakamoto. Despite the passage of time, as of 2021, the true identity of the individual or entity behind this alias remains shrouded in mystery.

On October 31, 2008, Nakamoto unveiled the Bitcoin whitepaper, offering a comprehensive blueprint for the implementation of a peer-to-peer online currency. In this groundbreaking document, Nakamoto introduced the concept of a decentralized ledger of transactions bundled into “blocks” and secured through cryptographic algorithms—a system that would later be coined “blockchain.”

A mere two months later, on January 3, 2009, Nakamoto mined the inaugural block on the Bitcoin network, known as the genesis block. This marked the inception of the world’s first cryptocurrency. Bitcoin’s initial value was a mere $0, and it was primarily acquired through mining, a process achievable with relatively modest hardware such as personal computers and mining software. The inaugural documented commercial transaction involving Bitcoin took place on May 22, 2010, when programmer Laszlo Hanyecz exchanged 10,000 Bitcoins for two pizzas. Remarkably, at Bitcoin’s price as of mid-September 2021, those pizzas would be valued at a staggering $478 million. This memorable episode is now commemorated as “Bitcoin Pizza Day.” In July 2010, Bitcoin began its initial trading, with prices fluctuating between $0.0008 and $0.08 during that period.

Nevertheless, while Nakamoto conceived Bitcoin and authored its initial implementation, the network alert key and control of the code repository were subsequently entrusted to Gavin Andresen, who eventually assumed the role of lead developer at the Bitcoin Foundation. Throughout the years, a multitude of individuals have contributed to enhancing the cryptocurrency’s software by addressing vulnerabilities and introducing novel features.

Bitcoin’s GitHub source code repository boasts a roster of over 750 contributors, including notable figures such as Wladimir J. van der Laan, Marco Falke, Pieter Wuille, Gavin Andresen, Jonas Schnelli, and numerous others