Could Nick Szabo Be Bitcoin's Inventor Satoshi Nakamoto?

A new HBO documentary airing on October 8 has sparked renewed speculation about the true identity of Satoshi Nakamoto, the elusive creator of Bitcoin. While the documentary’s claim may be a promotional tactic, it has once again stirred curiosity over who Satoshi really is.

One of the prominent names frequently mentioned as a potential candidate is Nick Szabo, an American cryptographer, legal scholar, and computer scientist who has made significant contributions to the blockchain space since the 1990s—well before Bitcoin even existed.

Who Is Nick Szabo?

Szabo holds a degree in computer science from the University of Washington, graduating in 1989, and later earned a Juris Doctor from George Washington University Law School. In 1994, he coined the term “smart contracts,” a concept that would later become fundamental to blockchain technology.

In 1998, Szabo introduced a theoretical digital currency called “Bit Gold,” which, like Bitcoin, was fully digital, didn't require intermediaries, and addressed the double-spend problem using proof-of-work. Bit Gold’s network relied on a quorum of addresses rather than computational power to reach consensus, which left it vulnerable to Sybil attacks.

Szabo's reasoning behind Bit Gold stemmed from concerns about reliance on third-party trust for money’s value, which he saw as problematic, especially given historical inflationary events. This belief shares striking similarities with Bitcoin’s core philosophy.

The Connection to Bitcoin

In 2008, ten years after Szabo proposed Bit Gold, the Bitcoin white paper was published by the pseudonymous Satoshi Nakamoto. Given the conceptual overlap between Bit Gold and Bitcoin, many have pointed to Szabo as a potential candidate for being Satoshi. Additionally, Szabo’s deep involvement in the early blockchain space demonstrates his technical expertise, further cementing his position as a leading contender.

Dominic Frisby, author of Bitcoin: The Future of Money?, also argues that Szabo and Nakamoto share similar writing styles. Both have referenced economist Carl Menger, adding to the intrigue.

Denials and Speculation

Despite these clues, Szabo has consistently denied being Satoshi Nakamoto, standing apart from others who have claimed the title. His insistence on privacy and his denial may make him an even more compelling candidate in the eyes of many.

As the HBO documentary adds new fuel to the debate, Szabo remains a central figure in the ongoing mystery surrounding Bitcoin's true inventor.