Satoshi Nakamoto Is Writing a Book, Website Claims

Bitcoin’s creator, whoever it is, has hinted that a new tell-all book chronicling the development of the game-changing cryptocurrency is being developed, a new website claims.

Is Satoshi Nakamoto Writing a New Book?

Bloomberg’s Matthew Leising has drawn attention to a new cryptic message posted Friday on a website that is said to be linked to Satoshi Nakamoto, the person or entity who developed the original bitcoin whitepaper ten years ago.

The website claims that bitcoin’s creator has released “the first excerpt to a literary work consisting of two parts.” Although it is not entirely clear how much the book will reveal, the website claims it will answer “some of the most brought up questions,” possibly in relation to bitcoin’s creation and the identity of the person or entity behind it.

The post also includes a cryptogram that enables readers to decipher names related to the book’s title. According Leising’s article, the answer to the cryptogram is “honne and tatamae,” which appears to be a Japanese expression that contrasts a person’s true feelings and the behavior one displays publicly.

An excerpt of “Duality” has been made available here.

Satoshi’s Motivation

The author of the 21-page excerpt claims that Satoshi Nakamoto first became interested in cryptograhy as a 14-year old by joining an online “cypherpunk” movement. The creative drive behind the digital currency was paved by the likes of Adam Back, Wei Dai, David Chaum and Hal Finney.

“David Chaum preceded me by almost twenty years, but with his paper Untraceable Electronic Cash he explored the possibility of anonymous transactions using a number of cryptographic protocols,” the author wrote. “Its inherent flaw however, was that it was centralized. And like all things, people can lose trust in something that is controlled by one authority.”

Despite the flaw, the principles in Chaum’s work convinced the cyberpunks that anonymous transactions were possible.

Interestingly, the excerpt’s author tells readers that Satoshi Nakomoto is not a real or “legal” name, but Japan’s equivalent to “John Smith.” Although this was implied in the original whitepaper, the excerpt is the first public acknowledgement that Satoshi Nakamoto is actually a pseudonym.

The Primary Reason for Bitcoin’s Success

Bitcoin’s success, the author claims, can be boiled down to one factor: the realization that “you could generate your own form of money” independent of government or any central authority. “It wasn’t about the proficiency of the code or the novelty, it was because it had to do with money. It centered around money.”

The excerpt says bitcoin is ultimately one of “tens of thousands of projects” tied to cryptography and digital money. It “started as most things do, a love, an idea, a dream” before it emerged as the flagship digital currency project that proponents say has changed the world.

Nakamoto’s identity has long evaded journalists, researchers and crypto enthusiasts at large.  While the search has died down in recent years, a book written by bitcoin’s elusive founder would spark renewed interest in unearthing a true identity.

The excerpt does not claim Satoshi’s identity will be revealed in the new book. However, it does imply that a more thorough telling of the story was “inevitable.”

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Chief Editor to and Contributor to, Sam Bourgi has spent the past nine years focused on economics, markets and cryptocurrencies. His work has been featured in and cited by some of the world's leading newscasts, including Barron's, CBOE and Forbes. Avid crypto watchers and those with a libertarian persuasion can follow him on twitter at @hsbourgi