Satoshi Nakamoto is not a pseudonym. Nakamoto is a 64-year-old Japanese-American living near Los Angeles.
Bitcoin is the brainchild of Satoshi Nakamoto, he designed Bitcoin in 2008 and mysteriously disappeared after. Bitcoin is a peer-to-peer payment system and virtual currency that is designed to be a decentralised virtual alternative for money. Mining of Bitcoin is done by computers through software freely available on the internet.
"I am no longer involved in that and I cannot discuss it. It's been turned over to other people. They are in charge of it now. I no longer have any connection." said the 64-year-old father of six to Newsweek.
The possible motivation for Bitcoin comes from the fact that Nakamoto collects model trains, and his frustration with the high bank fees and poor exchange rates when sending international wire transfers to England to buy model train toy parts.
Satoshi Nakamoto was born in Japan in 1949 and immigrated to the United States 10 years later. He did classified work both for corporations such as Hughes Aircraft and for the United States military before Bitcoin. For the past 40 years, he went by the name Dorian S Nakamoto, he then legally changed his name to Dorian Prentice Satoshi Nakamoto.
Arthur Nakamoto, Satoshi's brother told Newsweek “What you don’t know about him is that he’s worked on classified stuff. His life was a complete blank for a while. You’re not going to be able to get to him. He’ll deny everything. He’ll never admit to starting Bitcoin.”
Newsweek stopped printing physical copies of the magazine in 2012 and relaunched this week with the first issue featuring Nakamoto on the cover. Newsweek reporter Leah McGrath claims to have tracked him down after a two-month long investigation and wrote a 3,000 word profile on him. People are still not convinced members of the Bitcoin community are wary if the news is for real. Bitcoin’s lead developer, Gavin Andresen, who is quoted extensively in Newsweeks article, says he is “disappointed Newsweek decided to dox the Nakamoto family”, and that he “regret[s] talking to Leah.”