• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
TechBitcoin

Bitcoin, Satoshi Nakamoto, and the Enduring Mysteries of Authorship

Robert Hackett
By
Robert Hackett
Robert Hackett
Down Arrow Button Icon
Robert Hackett
By
Robert Hackett
Robert Hackett
Down Arrow Button Icon
December 13, 2015, 1:53 PM ET
Tibanne CEO Mark Karpeles At Mt.Gox Bitcoin Exchange And Bitcoin Images
A twenty-five bitcoin is arranged for a photograph in Tokyo, Japan, on Thursday, April 25, 2013. The digital currency, which carries the unofficial ticker symbol of BTC, was unveiled in 2009 by an unidentified programmer, or group of programmers, under the name of Satoshi Nakamoto. Supply is capped at 21 million Bitcoins and managed by a software algorithm embedded into the digital currency?s design, rather than a monetary authority such as a central bank. Photographer: Tomohiro Ohsumi/Bloomberg via Getty ImagesTomohiro Ohsumi—Bloomberg Bloomberg via Getty Images

A mysterious package arrived at my desk on Thursday morning.

Inside: a slim pamphlet with day-glo pink type set on a vibrant—almost radioactive—mint green cover. A tiny (and exceptionally fragile) llama figurine accompanied a note. The booklet, I learned, was an excerpt of a literary work that’s been making the rounds through tech and media circles. Iterating Grace, it’s called. Author unknown.

The package arrived the morning after Wired and Gizmodo published dual exposés purporting to unmask the alleged mastermind behind the Bitcoin cryptocurrency. Their “outed” architect? A dubious and barely known Australian man named Craig Wright, who—incomprehensibly to Bitcoin backers—had boasted online that he had ties to governments and intelligence agencies. The legendarily pseudonymous Satoshi Nakamoto, who originally conceived of the digital money, was a suit all along. Go figure.

Reporters everywhere—hot on the bloke’s scent—proceeded to debunk the stories, and to “dox” the newly named suspect, airing and questioning the details of his life for all to see. Every bit of corroborating evidence imploded. The man’s blog posts that suggested he was the creator? Counterfeit, amended ex post facto. (Wired had distinctly provided for the possibility that the epiphany might be a scam, and pointed out the inconsistencies pertaining to Wright’s personal blog. Gizmodo‘s investigation was, like Wired‘s, based primarily on leaked or hacked documents sent by an unidentified source—and it leaned heavily on interviews that were suggestive though inconclusive.) The man’s public encryption key, a code that can prove one’s authenticity? Likely forged and backdated. His PhD? Never earned. His supercomputer? Disputed, unconfirmed. As far as anyone can tell, the whole affair was likely an elaborate hoax.

Cloaked artists are alluring. The masked electronic music duo Daft Punk, the elusive novelist Thomas Pynchon, the shadowy street artist Banksy. Anonymity, pseudonymity, obscurity. The mystery draws us in.

Computer security researchers are perpetually engaged in trying to find out who is responsible for certain cyberattacks: attribution. Who hacked whom, and why? Identity poses problems in cyberspace. Wily attackers cover their tracks, adopt disguises, and slink away unharmed. At this same time last year, you might recall, the whole world was captivated by the hunt to determine whether North Korea-sponsored hackers really did digitally decimate Sony Pictures Entertainment. (Probably did.)

Maybe Satoshi’s identity matters. Maybe it doesn’t. For most of us, though, the mystery of authorship always enthralls.

Anyway, I’m on holiday through the rest of the year. I plan to read books—maybe I’ll start with the anonymously concocted Iterating Grace. In the meantime, I leave you in the hands of my very capable colleagues. They’ll handle Cyber Saturday for the next few weeks. See you in 2016, dear readers.

A version of this post titled “Bitcon” originally appeared in Data Sheet, Fortune’s daily tech-business newsletter. Subscribe here.

Follow Robert Hackett on Twitter at @rhhackett, or keep up with his cybersecurity, technology, and business coverage here.

For more about hacking, watch this Fortune video.

[fortune-brightcove videoid=4565964095001]

About the Author
Robert Hackett
By Robert Hackett
Instagram iconLinkedIn iconTwitter icon
See full bioRight Arrow Button Icon

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

Elon Musk stands behind the Nasdaq opening bell and in front of a "SpaceX" background.
Startups & VentureSpaceX
Founders Fund, Andreessen Horowitz, Valor, and the biggest VC winners from SpaceX’s IPO
By Allie GarfinkleJune 12, 2026
4 hours ago
Sven Gerjets, chief technology officer at Gap, speaks on stage on a panel at Fortune Brainstorm Tech 2026.
Future of WorkBrainstorm Tech
Why companies are treating AI as a strategic partner rather than a passive technology, and how to avoid an ‘AI hangover’
By Sebastian HerreraJune 12, 2026
5 hours ago
Elon Musk stands behind the Nasdaq opening bell and in front of a "SpaceX" background.
Future of WorkElon Musk
Despite his new trillionaire status, Elon Musk says money ‘will stop being relevant’ in the future because of AI
By Sasha RogelbergJune 12, 2026
6 hours ago
AI was supposed to cut health care costs. One of its first jobs was charging you more, PwC report shows
AIHealth Care Service
AI was supposed to cut health care costs. One of its first jobs was charging you more, PwC report shows
By Whizy Kim and Tech BrewJune 12, 2026
6 hours ago
paul
AIWorld Cup
Machine learning gives the U.S. a 1% chance of winning the World Cup final in its own backyard
By Achim Zeileis and The ConversationJune 12, 2026
6 hours ago
DoorDash wants you to stop scrolling and just tell its new AI chatbot what you’re hungry for
RetailDoorDash
DoorDash wants you to stop scrolling and just tell its new AI chatbot what you’re hungry for
By Dave Lozo and Morning BrewJune 12, 2026
6 hours ago

Most Popular

Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back
Environment
Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back
By Catherina GioinoJune 9, 2026
3 days ago
When SpaceX starts trading, some 'shareholders' will discover they own nothing at all
Investing
When SpaceX starts trading, some 'shareholders' will discover they own nothing at all
By Jim EdwardsJune 12, 2026
14 hours ago
Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer
Energy
Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer
By Sasha RogelbergJune 10, 2026
2 days ago
Current price of oil as of June 12, 2026
Personal Finance
Current price of oil as of June 12, 2026
By Joseph HostetlerJune 12, 2026
12 hours ago
American taxpayers have spent $33 billion on sports stadiums. They got fewer seats—and higher prices
Success
American taxpayers have spent $33 billion on sports stadiums. They got fewer seats—and higher prices
By Catherina GioinoJune 11, 2026
1 day ago
Current price of oil as of June 11, 2026
Personal Finance
Current price of oil as of June 11, 2026
By Joseph HostetlerJune 11, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.