The CEO of BitMEX, Arthur Hayes has just given his thoughts on bitcoin’s creator, ‘Satoshi Nakamoto’ and it’s not what you think…

Well actually, given the title of this article, you probably have a good idea as Hayes actually believes that Nakamoto is dead.

Speaking as if Nakamoto isn’t just a singular person but rather a ‘group, Hayes says this:

“I think they’re already dead.”

He also added that he doesn’t see the true identity (identities?) of Nakamoto ever being truly revealed.

When it was initially launched in 2009, bitcoin was envisioned to be a currency that doesn’t depend on the presence of third-party service providers and financial institutions, processing payments in simple peer-to-peer regard.

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The whitepaper for the leading currency states:

“Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments. While the system works well enough for most transactions, it still suffers from the inherent weaknesses of the trust based model. Completely non-reversible transactions are not really possible, since financial institutions cannot avoid mediating disputes.”

The whole idea of bitcoin was to function as an alternative currency in order to transfer value between individuals that could see most traditional financial institutions rendered pointless.

As reported by CCN:

“Even if an individual can mathematically and cryptographically prove to be Satoshi by signing the wallet Satoshi owns, there is always a possibility that the wallet could be stolen or the keys may have been in jeopardy.”

It will be interesting to see how accurate Hayes is on thinking Nakamoto is dead. Furthermore, it would be fascinating to someday find out who the real Satoshi Nakamoto is. 

For more news on this and other crypto updates, keep it with CryptoDaily!



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