On 12 December 2010, the creator of the first cryptocurrency under the pseudonym Satoshi Nakamoto published his last post on the forum before vanishing from the public eye.
The message offered no hint of the departure of the Bitcoin project’s lead developer. It contained a description of an update and code for Denial-of-Service (DoS) controls of protocol version 0.3.19.
It was a time when digital gold traded at around $0.20, and the network, as Satoshi himself and other users noted, “not at all resilient to DoS attacks.” A few days before his departure, the creator of Bitcoin also expressed dissatisfaction that the infamous leaks platform Wikileaks used the asset for donations.
In recent years, Satoshi faced disagreements within the developer community that spilled into forum debates. His blockchain was often criticised for excessive centralisation of control over the project and for unilateral decisions.
Apparently, the founder of the blockchain had long planned to leave the team, not wishing to be a “mysterious ghostly figure,” but to focus on developing his idea of a digital currency. Before vanishing completely, he handed over control over the protocol to the community led by developer Gavin Andresen.
“In an era dominated by control and regulation, Bitcoin offers an alternative — a world in which people, not governments, own their money. Satoshi’s contribution to decentralisation and his fight against financial dictatorship go beyond a technological marvel. It is a movement for economic freedom and sovereignty. […] His disappearance is not merely an act of self-preservation but also a reminder that not everything in life revolves around personal glory,” — a BitcoinTalk forum user wrote, recalling the creator’s last post.
The identity of Satoshi Nakamoto remains shrouded in mystery to this day, in addition to numerous theories. Some speculated that it could be Bitcoin pioneer Hal Finney, but Casa founder Jameson Lopp disputed this theory.
There is a view that Satoshi is not a single person, but a group of developers operating under one pseudonym.
Since the departure, the project has continued to develop vigorously and decentralisation has been taken to a new level. The coin itself has risen thousands of times, reaching the all-time high of $69,000.
Satoshi had initially predicted that layers built on top of the blockchain would allow him to move beyond “sound money.” Thus, last year’s update Taproot opened Bitcoin’s path into the DeFi sphere.
Moreover, the first cryptocurrency was adopted as legal tender in El Salvador and in the Central African Republic.
October 31 marked the 15th anniversary of the Bitcoin white paper.