Who’s Nick Szabo, the man some believe is Bitcoin inventor Satoshi Nakamoto?

A new HBO documentary, set to air on October 8, has sparked fresh debate by claiming it may have uncovered the true identity of Satoshi Nakamoto, the pseudonymous creator of Bitcoin. While this could be a promotional tactic, it has reignited speculation about who Satoshi might be.

One prominent figure often linked to Nakamoto is Nick Szabo, an American cryptographer, legal scholar, and computer scientist. Szabo has been involved in the blockchain space since the early 1990s, even before Bitcoin’s existence. He graduated from the University of Washington in 1989 with a computer science degree and later earned a Juris Doctor degree from George Washington University Law School.

Szabo is best known for coining the term “smart contracts” in 1994, aiming to bring legal agreements into the digital world through code. These contracts later became foundational to blockchain technology. In 1998, he introduced a digital currency concept called “Bit Gold,” which utilized proof-of-work cryptographic solutions to solve the double-spend problem, much like Bitcoin does. While Bit Gold did not rely on intermediaries, it used a quorum of addresses to reach consensus, making it vulnerable to Sybil attacks.

Szabo has long been speculated as Satoshi Nakamoto due to the strong similarities between Bit Gold and Bitcoin. Notably, Nakamoto published the Bitcoin white paper in 2008, a decade after Szabo’s work on Bit Gold.

Over the years, many have speculated about Nakamoto’s identity, and Szabo remains one of the most plausible candidates.

HBO documentary

The inventor of Bitcoin may remain a mystery for now, but thanks to a new HBO documentary claiming to finally unmask Nakamoto, speculation has erupted on the prediction market Polymarket.

Len Sassaman was once a strong candidate for being Satoshi Nakamoto, but over time, Nick Szabo has emerged as the more favored contender. Szabo’s chances are seen as much higher, while other potential candidates have significantly lower odds.

The argument for Szabo being Satoshi is based on several key points:

1. Bit Gold, Szabo’s proposed cryptocurrency, shares many core concepts with Bitcoin, even though it was never fully realized. While Bit Gold had its flaws, it’s plausible that Szabo refined these ideas over the next decade, culminating in Bitcoin.
2. Szabo’s broader contributions to the fields of blockchain and cryptocurrency highlight his expertise, making him a strong candidate. His technical proficiency aligns well with the skills needed to create Bitcoin.
3. Writing style analysis suggests similarities between Szabo’s writings and those of Satoshi Nakamoto. Author Dominic Frisby, in his book Bitcoin: The Future of Money?, argues that Szabo and Nakamoto’s writing styles are strikingly similar. Both have also cited the economist Carl Menger, adding to the connection.
4. Szabo’s strong preference for privacy parallels Nakamoto’s desire for anonymity, further supporting the theory.
5. Importantly, Szabo has consistently denied being Satoshi Nakamoto, which contrasts with individuals who claim to be Satoshi. Historically, those who claim to be Satoshi tend not to be the real person behind the pseudonym.

All these factors combine to make Nick Szabo one of the leading figures speculated to be the real Satoshi Nakamoto.