Nobel Prize in Economics for Satoshi Nakamoto?

06/22/2021

Cryptocurrencies are one of the most disruptive technologies of the modern-day. The pseudonymous founder of Bitcoin, Satoshi Nakamoto thus remains a vital name in the cryptocurrency market. Having been the first person to employ Blockchains for the creation of digital currencies, Nakamoto is highly responsible for what we know the cryptocurrency market to be today.

He can also be credited in part, for what Ethereum has become, as the idea of creating a network that integrates additional features that Bitcoin lacks, was inspired by the creation of Bitcoin itself. The new financial system that the world anticipates, is lately possible because of the existence of digital currencies, which again goes back to Bitcoin and Nakamoto.

Who is Satoshi Nakamoto?

Many have spun up theories about who Satoshi really is—either to solve the mystery or, in some cases, to further an agenda of their own—but no one has offered a definitive answer.

August 2008: someone anonymously registered the domain name bitcoin.org.

Jan 2009: Bitcoin Network initialized and First Bitcoin Mined.

Last Contact: In 2010, Nakamoto handed over control of the repository containing the Bitcoin source code to Gavin Andresen, a software developer. Then, on April 23, 2011, Satoshi Nakamoto sent their last email: “I’ve moved on to other things. It’s in good hands with Gavin and everyone.”

The Clamour for a Nobel

“Satoshi Nakamoto should be awarded the Nobel Prize in Economics.” wrote Friedman on Twitter.

The tweet which quickly picked up traction got the attention of the founder of MicroStrategy Michael Saylor, who not only agrees but also added that a Nobel Peace Prize should follow, with his reason being that Bitcoin as a monetary system has managed to function as one that isn’t affiliated with the usual national violence that we see either fiat currencies.

Saylor’s statement reads: “Satoshi Nakamoto deserves the Nobel Prize in Economics for the invention of Bitcoin, followed by the Nobel Peace Prize for the invention of a monetary system that doesn’t rest on the threat of violence.”

While being awarded the Nobel Prize would be a big win for the entire cryptocurrency community, Nakamoto being present to receive the award is one question that no one has the answer to.

Recently, as the sentiment of certain celebrity rock star figures (Elon Musk for instance) managed to sway bitcoin surprise upwards or downwards, some community members have observed the relevance of Satoshi Nakamoto’s disappearance, which some believe has significantly helped the Bitcoin market to remain alive.

With Bitcoin being as powerful and as widely adopted as it is now, putting a face to the name of its creator may have caused more harm than good. Nakamoto’s security could have also been a cause for worry. All in all, many agree that the statement “Bitcoin has no leader” has and will continue to keep the community intact.

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