The Reveal Of Satoshi Nakamoto

Dominik Olech
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All accounts hacked, 980 000 bitcoins lost, depression, and finally redemption after all. Could you imagine a more tragic and heart-breaking story? Ladies and gentlemen, behold – new Satoshi Nakamoto!

It’s somewhat hard to write this article. The Satoshi identity is one of the most popular subjects concerning cryptocurrencies. It has been raised so many times. And so many people have claimed the identity of Bitcoin creator. Recently, we we’ve been dealing with a different story of supposed Satoshi. Why is this one different? It’s certainly well written.

Building expectations

It all started on August 16th, when the news about Bitcoin creator’s comeback appeared on GlobeNewswire website. Press note consisted of short information on Satoshi’s alleged plans to reveal his story in three parts on website, which is a shortcut for “Satoshi Nakamoto Renaissance Holdings”. It also mentioned about Ivy McLemore & Associates involvement in the whole case.

The cryptocurrency industry has already got used to similar news, but still, every new Satoshi related announcement attracts its attention. So people were waiting for the date of August 18th, when the first part of revelations was to be published. The time is not accidental, of course. According to the press note, it refers to the day when Satoshi registered domain. It is also a good tease for the overall style of all revelations, which are strongly influenced by numbers. But let’s not get ahead of ourselves.

Memoirs of Satoshi

The first part, revealed as it had been scheduled for August 18, consisted mainly of a story about the genesis of whole Bitcoin idea. Probably the most significant part of this refers to the naming itself. The author seems to be obsessed with the history of Bank of Credit and Commerce International – a bankrupt bank closed due to money laundering. Alleged Satoshi would learn this story from his father, who was a banker himself.

According to the disclosure, the word “bitcoin” comes from the name of this bank: Bank of CredIT and COmmerce INternational. Little complicated, isn’t it? Bit – coin seems to be far more suitable. However, the further we go, the more similar puzzles we encounter. He also told us about his relation with Hal Finney. According to the author, he was not only his mentor but also a close friend. Finney, unfortunately, passed away in 2014, so he can’t confirm any assumed Satoshi words.

The next two parts were scheduled to be published in the next two days, consisting of the real name of Satoshi and information about his new upcoming project called Tabula Rasa. But something had to either go wrong or our crypto master changed his mind, cause both part II and III were released on the same day.

The moment of truth

In them, Satoshi did indeed finally reveal his identity – alongside with long-expression of love for numbers. We received a taste of it in part I, where he used Chaldean numerology to describe how he had chosen his nickname. However, in part II-III, we were able to witness a real wealth of different numbers, connections between them, and religious references. For example, the Bitcoin supply limit was designated that way:

“In simple terms, and using Chaldean numerology as my guide, I determined the Bitcoin supply limit of 21 million in two ways that led to the same outcome.

21 is the total of November 18, 2008, registration date of the domain name the owned with my real name. I wanted to leave a signature behind. (18-11-2008 is 1 + 8 + 1 + 1 + 2 + 0 + 0 + 8 = 21)

21 is the number of Jupiter (3), the ruling sign of wealth and the same as my mother’s name, which in Urdu means Jupiter (the digits in 21 represent 2 + 1 = 3).”

Later on, Satoshi tries to explain the mystery of his lost bitcoins. According to him, 980,000 bitcoins has gone due… hard drive failure. One day in 2010, he encountered problems with the laptop where all private keys were stored. So, he sent the computer to the service. That’s right – Satoshi Nakamoto, the creator of Bitcoin and crypto mastermind, has sent his laptop to the support. He didn’t even try to resolve the problem by himself, cause “it had a warranty sticker on the back”. When the computer came back, the hard drive was already replaced with a new one. This part of his testimony caused the massive reaction on crypto-related media. People on Reddit and Bitcointalk point to the incompetence of alleged Satoshi. But, as one of r/bitcoin members said: “Can’t expect the inventor of Bitcoin to know things about Bitcoin.”

After this loss, Satoshi retreated from the cryptocurrency world, of course without any mentioning about what had happened. He got the job in the National Health Service as a support analyst and started a family. He calls those times the “Hakuna Matata phase”. And suddenly, he decids to end his crypto retirement and reveal himself to the world. So, according to “My Reveal” on, the real Satoshi Nakamoto is James Bilal Khalid Caan. He also attached his photo. The picture itself deserves a comment. The overall poor quality of image and suspicious blur around Caan’s figure don’t work well for the new Satoshi.

The wrong equation?

The Internet quickly rated new Satoshi as “Faketoshi”. Members of Bitcointalk clearly showed their negative opinion on him. Folks on Reddit keep on providing new defects and inaccuracies of Caan’s statement. For example, the user named “bitvroom” noticed that the author of the photo of the alleged Satoshi laptop did not remove the EXIF (exchangeable image file format) data. Moreover, it allowed him to track the location where the picture was taken. As for the person who takes his privacy very seriously, it is strangely unusual to let that happen.

Others point to differences between James Caan’s testimony and Satoshi’s former activity. The changed writing style is just the tip of the iceberg. Some people wonder why such mastermind like Nakamoto, with both skills and privacy attitude, would post his confession on WordPress, with all information exposed. Moreover, there are some inaccuracies in Caan’s behavior even without comparison to Satoshi. He presented himself as obsessed with security – but when his laptop had crashed, he sent it to the support.

But probably the most disturbing thing is Caan’s attachment to numbers. All of the complicated calculations made by him seem to be only a smokescreen to distract readers from the lack of actual evidence. It reminds me of many conspiracy theories which designate the date of the end of the world or look for secret organizations. In all these cases, supporters of such conjectures are trying to convince others by finding specific codes. 

Caan pointed out the importance of numbers in our history – and pointed them out as a reason why he used some specific numbers in the creation of Bitcoin. But let’s be honest – there are so many different numbers in our history, and all of them may be easily attached to any story.

The magic in numbers

Example? Let’s create our own Bitcoin lore based on numbers!

So, I’m the Satoshi right now. Why have I chosen a number of 21 billion as the final supply limit of all Bitcoins? Good question! The main reason was the century in which we’re living right now. The XXI century is the time when our world is changing for good – and my Bitcoin will be a significant part of it! Moreover, I was inspired by the movie “21”, which tells the story of a brilliant student at the Massachusetts Institute of Technology, who uses his mathematical skills to win money in gambling. I thought that my similar skills might be used in a different way and help others to make their dreams come true. The movie came out in 2008, just before my registration of domain…

And so on. It is very easy to create a story around numbers. It’s convincing because we are always able to find ones which match to the situation. Why is it working so well? At first, it starts with a simple, obvious connection, which is easy to understand and hard to deny. But the deeper we’re going, the more complex links between them are. Usually, we should say: “it’s over-complicated, it looks like obvious fraud”. But then, we keep thinking: “but the first numbers match so perfectly? Maybe the next one makes sense, too”. 

So, if James Caan is just another impostor, what is the purpose of this whole masquerade? The answer probably lies in Tabula Rasa (a “blank slate” in Latin) – a blockchain project briefly announced in reveal as the “clean-slate vision for Bitcoin”. According to the original schedule, we should learn more about it in part III of the testimony. In the end, it didn’t contain any information about it. Everything about the project is now just speculation. 

Ivy McLemore – the man who stays behind it all?

With the first notion about supposed Satoshi revelation, many people have noticed one weakness of it: why is Satoshi communicating through some sort of PR agency, instead of just posting something on his account on Bitcointalk? Not to mention why he couldn’t just sign his message with his genesis key – Caan has already explained it with a shady story about the broken laptop.

It takes us probably to the main actor in this show, the Ivy McLemore & Associates. This previously unknown PR firm has seen an increase in interest since it started to help Caan to reveal his memories. Apart from any need for using a third party by real Satoshi, why he would choose some unverified PR agency instead of just going with his revelation to press? If we connect it with the fact that Steve Gillen, one of the vice presidents in Ivy McLemore & Associates, specializes in cryptocurrency subject, it suggests that Caan’s statement is nothing more but a promotion of Tabula Rasa project.

To sum everything up, what’s the main problem of this statement? Whoever creates the story, he (or she) is a great storyteller for sure, someone who managed to tell a fairytale perfectly tailored for some crypto enthusiasts. But he makes a mistake – the story is too wordy. Its author tries to create so many different shreds of evidence for its authenticity, that in the end, it became too complicated. 

But, if the Caan’s testimony is, somehow, true, Satoshi Nakamoto is one of the saddest beings on earth. He lost almost everything. But now he’s rising again, to fulfill his dreams. Or at least, James Caan and Ivy McLemore want us to believe it.

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