Satoshi Nakamoto
Pseudonym of the person or group who invented Bitcoin. Satoshi published the whitepaper in 2008, launched the network in 2009 and withdrew in 2011. Who is behind the name remains unknown to this day.
AlsoSatoshiNakamotoinventor of Bitcoin
What is known
- 31 October 2008: Satoshi presented the whitepaperGlossaryWhitepaper (Bitcoin whitepaper)The nine-page founding document in which Satoshi Nakamoto introduced Bitcoin on 31 October 2008. It explains how payments can work without a bank and how double spending is prevented.In the glossary → on a cryptography mailing list – an electronic cash system without a trusted intermediary.[1]
- January 2009: The genesis blockGlossaryGenesis blockThe very first block of the Bitcoin blockchain, created on 3 January 2009. It contains a newspaper headline about bank bailouts – and its reward of 50 BTC can never be spent, for technical reasons.In the glossary → and the first version of the software followed.[2]
- Mid-2010: Satoshi handed control of the source code to the developer Gavin Andresen.[2]
- 2011: In one of his last known messages, he wrote that he had moved on to other things.[2]
Estimates attribute around 750,000 to 1.1 million BTC from the early days to Satoshi, unmoved since 2010; the attribution is not proven. In 2024, a British court found that Craig Wright, who had claimed for years to be Satoshi, neither wrote the whitepaper nor is Satoshi.[2],[3]
Why the identity hardly matters
Satoshi has no special privileges. The rules are enforced by the users’ nodesGlossaryNodeA computer that runs Bitcoin software and exchanges transactions and blocks with other nodes. Together, the nodes form the Bitcoin network; full nodes check every rule themselves.On the learning path: Stage 1 · Step 3 – How does Bitcoin work? →In the glossary →; anyone can check the software and the whitepaper. There is no founder figure who could steer Bitcoin or be put under pressure.
If someone claims to be Satoshi or promises a ‘revelation’, it is often about attention or money – be sceptical.
Related terms
These terms are closely connected.
- This termSatoshi Nakamoto
- Whitepaper (Bitcoin whitepaper)The nine-page founding document in which Satoshi Nakamoto introduced Bitcoin on 31 October 2008. It explains how payments can work without a bank and how double spending is prevented.
- Genesis blockThe very first block of the Bitcoin blockchain, created on 3 January 2009. It contains a newspaper headline about bank bailouts – and its reward of 50 BTC can never be spent, for technical reasons.
- BitcoinDigital money without a central authority: thousands of independent computers check every transfer against the same open rules. The supply is permanently capped at just under 21 million BTC.
- Satoshi (sats)The smallest unit of Bitcoin: 1 satoshi (‘sat’ for short) equals 0.00000001 BTC, so one bitcoin consists of 100 million sats. The unit is named after Bitcoin’s creator, Satoshi Nakamoto.
- Bitcoin CoreThe most widely used software for Bitcoin nodes, a direct descendant of Satoshi Nakamoto’s first program. It is open source, verifies all blocks and transactions itself and includes a wallet.
Explained in depth
These articles go into more detail:
- Deep dive · Stage 1HistoryFrom the 2008 whitepaper via Pizza Day, Mt. Gox and the block size war to US spot ETPs and the 2026 split: Bitcoin’s history, concise and sourced.
- Deep dive · Stage 1Whitepaper explainedSatoshi Nakamoto’s nine pages from 2008 in plain words: all twelve sections explained clearly, with links to the original and to translations.
More from „Basics“
Sources3 sources · 3 publishers
The superscript numbers in the text refer to these sources.
- Bitcoin P2P e-cash paper – Cryptography mailing list (metzdowd.com), 31.10.2008 (accessed 28/09/2026)
- Satoshi Nakamoto – Wikipedia (English) (accessed 28/09/2026)
- COPA v Wright – Judgment ([2024] EWHC 1198 (Ch)) – Courts and Tribunals Judiciary (United Kingdom), 20.05.2024 (accessed 28/09/2026)
This entry is for education only and is not investment, tax or legal advice.