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Amid a new wave of discussions about who actually created Bitcoin, triggered by a recent investigation by the New York Times, CTO Emeritus of Ripple David Schwartz delivered a rather sobering statement, saying that the debate over who exactly is behind the pseudonym Satoshi Nakamoto is secondary compared to the technical reality — access to the legendary one million Bitcoins has most likely been permanently lost.
Schwartz’s arguments are simple. He believes that over 17 years, anyone’s views change radically, and the idea that someone could consciously ignore a fortune of at least $70-$80 billion without making a single transaction looks implausible.
Therefore, in his view, the genesis keys were most likely destroyed or forgotten back when Bitcoin had no market value, making Satoshi’s holdings dead weight that will never put pressure on the market.
"Not true, but plausible": Why the crypto world suspected David Schwartz was Satoshi
Ironically, David Schwartz himself was long considered one of the main Satoshi suspects for his role as Bitcoin’s creator. He is the author of multiple patents in distributed computing dating back to 1988. His deep knowledge of cryptography can be clearly seen in the design of the XRP Ledger and XRP as one of the largest cryptocurrencies.
However, several years ago, responding to such claims, Schwartz directly called the theory of his involvement in Bitcoin’s creation untrue, though plausible, acknowledging that he has the necessary skills but consistently emphasizing that he only learned about Bitcoin in 2011.
In summary, while the industry continues searching through the cypherpunk mailing list archives for answers as to who Satoshi Nakamoto really is, Schwartz is one of the few who brings the discussion out of the realm of myth into the domain of mathematics and key security, stating that access to those Bitcoins has most likely either been lost forever or simply destroyed.
Dan Burgin
U.Today Editorial Team
