Key Points
- Recently published emails between Bitcoin’s creator, Satoshi Nakamoto, and early developer, Martti Malmi, provide insights into Bitcoin’s early days.
- The correspondence, dating from May 2009 to February 2011, reveals Nakamoto’s views on Bitcoin’s potential challenges and his own identity.
A compilation of 260 emails, amounting to 140,000 words, between the creator of Bitcoin (BTC), Satoshi Nakamoto, and early developer Martti Malmi, has been made public. This collection offers a rich source of historical information about the early days of Bitcoin.
Highlights from the Emails
The emails, which were exchanged between May 2009 and February 2011, showcase Nakamoto in a more casual and natural light than previously seen. He is seen as both forward-thinking and naive, anticipating potential ecological issues related to Bitcoin’s energy-intensive proof-of-work validation mechanism, but failing to understand Bitcoin’s scaling challenges.
Malmi only recently decided to share this private correspondence due to an important trial in the UK in 2024, where he was a witness. This trial involved a group of cryptocurrency exchanges and developers suing Craig Wright, who claimed to be Satoshi Nakamoto.
Insights into Nakamoto’s Identity
The emails also offer hints about Nakamoto’s identity. His language suggests he may have been an active internet user in the 1990s, and possibly worked in the telecommunications industry. There are also indications that Nakamoto may not have been a full-time coder, as he mentions being glad to be coding again.
Nakamoto’s decision to step away from Bitcoin in early 2011 is also discussed. He mentions being busy with work and needing a break from Bitcoin after 18 months of development. This suggests he may have left because of burnout, rather than due to any sinister happenings.
The emails also reveal Nakamoto’s thoughts on Bitcoin’s potential energy consumption issues. He acknowledges the irony of potentially having to choose between economic freedom and conservation, but argues that Bitcoin would still be less wasteful than traditional banking activities.
While the emails do not definitively reveal Nakamoto’s identity, they do provide valuable insights into the early development and challenges of Bitcoin. They also emphasize the decentralized nature of Bitcoin, which is not controlled by any one entity and inspires confidence in the system.
