Gavin Andresen: Satoshi Nakamoto Could Be Wrong

The creator of Bitcoin, known under the pseudonym Satoshi Nakamoto, could have been mistaken in his forecast about the prospects for cryptocurrency, one of its first followers believes.

Gavin Andresen learned about Bitcoin in 2010 and subsequently became the leading curator of its development. According to Andresen, the hypothesis put forward by Nakamoto that Bitcoin will have a large volume of transactions by 2030 or not at all. Andresen believes that in fact, something intermediate can happen, and after 10 years, Bitcoin will remain “a niche coin for gold bugs, with about the same transaction volume as today.”

Nakamoto’s last known letter to Andresen is dated April 26, 2011.

“I wish you wouldn’t keep talking about me as a mysterious shadowy figure, the press just turns that into a pirate currency angle. Maybe instead make it about the open source project and give more credit to your dev contributors; it helps motivate them,” Nakamoto wrote.

The next day, Andresen publicly announced his intention to read a lecture on Bitcoin at the CIA headquarters. As the founder of Adamant Capital Tour Demeester noted, shortly thereafter Nakamoto left the project.

In recent years, Andresen has become an active supporter of other cryptocurrencies. In May 2016, he was denied access to updating the Bitcoin Core repository on GitHub after he publicly announced that Craig Wright is Satoshi Nakamoto.

“I dunno what I will find interesting in 2020, but it will probably be built on Ethereum,” he wrote in early January.

Author: Marko Vidrih

Featured image credit: coinwelt