A new claimant to the identity of pseudonymous Bitcoin creator Satoshi Nakamoto appeared this week, and the claim fell flat with the Bitcoin and crypto community. And, of course, the crypto community was very calm and respectful, offering constructive criticism. Not.
It began last week with press releases telegraphing the reveal on a website called Satoshi Nakamoto Renaissance Holdings.
The reveal was scheduled to be released in the form of three blog posts over three days outlining the story and creation of Bitcoin and finally the identity of Satoshi Nakamoto. When the first installment arrived on Sunday, there were a few shortcomings, and Crypto Twitter went to work.
Crypto Twitter (CT) lambasted the numerous grammatical errors and misspellings, use of the word ‘cyberpunk’ instead of ‘cypherpunk,’ and the low-budget website:
New Faketoshi: “I have $10 billion worth of Bitcoin”
Also new Faketoshi: “I can only afford $1/month for hosting my website” pic.twitter.com/5TxyVJgbJa
— Riccardo Spagni (@fluffypony) August 18, 2019
One thing that could be stated with certainty about CT is that it doesn’t take long for someone to dig deep and come up with some real evidence. Before 24 hours had passed and part 2 of the reveal could be uploaded, CT had already uncovered the identity of the new Satoshi:
But CT is brutal. There was little mercy for the new Satoshi, James Bilal Khalid Caan, his PR firm, or any of his story.
It was all fair game, from Caan’s stated interest in Chaldean Numerology to his own personal history. His explanation of why he no longer has access to his originally mined 1 million Bitcoins (they took his hard drive when he sent his computer in to be repaired) to his lack of access to any of his original email accounts (they were hacked) were all popular targets for ridicule.
The origin of the word Bitcoin was a particular focal point. He claimed it was derived from a Pakistani bank called BCCI, the Bank of CredIT and COmmerce INternational, which shut down in 1991 for money laundering. Even Litecoin founder Charlie Lee had some fun with that:
The origins of the word Litecoin were derived not just from it being a "lite" version of Bitcoin.
I was looking at "Lime Tea Company Incorporated" and the light-bulb moment came where the letters were calling me to pick the name.
The letters were:
LIme TEa COmpany INcorporated https://t.co/mebMLZcoE8
— Charlie Lee [LTC⚡] (@SatoshiLite) August 18, 2019
CT’s fallback moniker for anyone claiming to be Satoshi Nakamoto is Faketoshi. But that term has long since been overwhelmingly applied to everyone’s favorite fraudulent Satoshi, Craig Wright. In that light, a new discussion arose about how to adopt this new fake Satoshi into the community and what title should he be bestowed with:
We need a nickname for the newest fake Satoshi @SatoshiNRH since Craig is already #Faketoshi. For the new one, I propose #Cheaptoshi for the $1 a month web hosting and half-assed reveal, or #Numbertoshi for the numerology obsession. Thoughts?
— Samson Mow (@Excellion) August 19, 2019
At least one Twitter user noted that this particular Satoshi Nakamoto was neither as believable or even as entertaining as some others. Caan’s PR firm should be held accountable on that note. But, then again, this episode isn’t all bad. We’ve got a new #Faketoshi or #Cheaptoshi or #SatoshiPakimoto to welcome to Crypto Twitter and there’s a new form of fan fiction based on fake Satoshi Nakamoto origin stories:
Craig Wright is not Satoshi Nakamoto, because I am.
I invented Bitcoin as a Kindergartener in 1991, when an older kid beat me up at recess for my lunch money. I knew there had to be a better way, thus the idea of using private key encryption to secure digital money was born.
— Vake (@vakeraj) August 18, 2019