Adam Back, the CEO of Blockstream, has firmly stated that Hal Finney, one of the top candidates believed to be Satoshi Nakamoto, did not create Bitcoin. Back, a well-known figure in the cryptocurrency space and a cypherpunk himself, made this claim after reviewing a blog post by Jameson Lopp, CTO of Casa. Lopp, in his 2023 post, presented time-stamped evidence suggesting that Finney could not have been the enigmatic figure behind Bitcoin’s creation.

Hal Finney has long been considered one of the leading candidates for the true identity of Satoshi Nakamoto, especially given his pivotal role in the early days of Bitcoin’s development. Finney was the first person to receive a Bitcoin transaction, which has further fueled speculation around his possible identity as Satoshi. However, Lopp’s blog post delves deeper into specific details to disprove the theory.

Evidence Against Finney’s Involvement

Lopp’s evidence centers around an event in April 2009, when Finney participated in a 10-mile race in Santa Barbara. During this time, Satoshi was corresponding with Bitcoin contributor Mike Hearn. Lopp highlighted photographic proof of Finney participating in the race, which coincided with the email conversations between Hearn and Satoshi. The timing discrepancy raised doubts about Finney’s involvement in Bitcoin’s development at that time.

This timeline is crucial because Satoshi Nakamoto was actively contributing to Bitcoin’s development and communicating with developers during this period. The fact that Finney was engaged in a physical event, far from the online activity of Satoshi, led Lopp to conclude that Finney could not have been Satoshi.

Finney’s Illness and its Impact

Another factor that adds weight to Back’s claims involves Finney’s diagnosis with amyotrophic lateral sclerosis (ALS) in 2009. ALS is a debilitating disease that gradually impairs motor functions and speech, making it incredibly difficult for individuals to perform everyday tasks, such as typing. Despite his illness, Finney remained involved in the Bitcoin community until mid-2010, even though he was no longer able to work due to the progression of his disease.

During this period, Satoshi Nakamoto continued to contribute code and engage in online discussions at a pace and level of detail that would have been nearly impossible for Finney, given his health condition. Back, along with Lopp, argues that it is highly unlikely that someone with ALS could have maintained such a high level of activity on the Bitcoin project, particularly given the physical challenges posed by the disease.

Adam Back’s Own Position

While Back has been closely associated with Bitcoin’s early development and is often mentioned as a potential candidate for being Satoshi Nakamoto, he has consistently denied any involvement in creating Bitcoin. As a British cryptographer, Back was cited in the original Bitcoin whitepaper, and his work on hashcash—a proof-of-work system—served as a precursor to the technology that Bitcoin uses. Despite these connections, Back remains adamant that he did not create Bitcoin.

For many years, Back has been one of the leading candidates in the hunt for Satoshi’s true identity, along with Finney, and others like Nick Szabo and Wei Dai. However, Back has stated on multiple occasions that he is not Nakamoto and that the identity of Bitcoin’s creator remains unknown.

Theories on Bitcoin’s Creation

While Back and Lopp have dismissed Finney as Satoshi, other theories about Bitcoin’s origins continue to circulate. Recently, former Binance CEO Changpeng Zhao suggested that Bitcoin might have been created by an artificial intelligence (AI) from the future. This speculative theory adds an intriguing layer to the mystery surrounding Nakamoto’s identity.

Although these theories are far from conclusive, they reflect the ongoing intrigue and fascination surrounding the creator of Bitcoin. For now, the true identity of Satoshi Nakamoto remains one of the greatest mysteries in the world of cryptocurrencies. Despite the many claims and investigations, no one has been able to definitively prove who created Bitcoin or why they chose to remain anonymous.

Conclusion

Adam Back’s statements about Hal Finney not being Satoshi Nakamoto, supported by Jameson Lopp’s evidence, add another chapter to the ongoing search for Bitcoin’s mysterious creator. While Finney’s involvement in the early stages of Bitcoin’s development is undeniable, the timeline and his subsequent health decline suggest that he may not have been the one to write the code and conceptualize the vision behind the cryptocurrency. With new theories, like the AI hypothesis, continuing to emerge, the identity of Satoshi Nakamoto remains as elusive as ever, leaving room for continued speculation in the cryptocurrency community.