Is Craig Wright really Bitcoin's creator? Unmasking raises doubts
3:01

Is Craig Wright really Bitcoin's creator? Unmasking raises doubts

Tech Industry
The mystery of who created BitCoin has been solved. Or has it? I'm Bridget Carey. This is your cnet update. [MUSIC] An Australian businessman has come forward as the creator of Bitcoin. But many Bitcoin enthusiasts are skeptical that he is really the creator. Bitcoin is a digital currency that operates with no central authority, no banks or one person that controls the supply of money. Instead all transactions are managed by a computer network and logged on a Public ledger. For years, people have speculated who created BitCoin. The creator only went by a pseudonym, Satoshi Nakamoto. Since BitCoin is an open source project. It was set free to grow within the network as other engineers tinkered to help perfect it. No one has come forward as the creator until now. Australian entrepreneur, Craig Wright. Says he is Satoshi Nakamoto. He sat down for an interview with the BBC shown here. He also spoke with the Economist and GQ and he wrote a personal blog post about it. Some people will believe, some people won't. And to tell you the truth, I don't really care. Well there are plenty of people in the BitCoin community who do not believe him. [UNKNOWN] see more proof. Write you some transactions as evidence but the accusations say that the information you provided was not secret. Yet several key BitCoin figures have gone on the record supporting his statement including two members of the BitCoin foundation who say they have been provided sufficient proof Wright says he does not want money or fame, nor will he accept any money from awards. He just wants to be left alone. He also says he will never talk to the media again about it. So why go public now? He says it's to end speculation and be left alone Since a few stories in December did suggest he could be the creator, reporters have been bothering him and people close to him. Admitting you are the creator of BitCoin comes with a whole new mess of problems. For one, everyone knows the creator is rich with how many BitCoins he or she owns from the early days when it was worth pennies Right now, there are about 15.5 million Bitcoins in circulation. Each one is worth about $450 as of this report. It's believed that the creator has about $450 million worth Worth of bitcoins. Now, since it's not often that new BitCoins are created, he could influence the value of a BitCoin if he sells a bunch at once. And that means the fate of BitCoin's success will be just lying in the hands of its creator. And that's why people Care so much. You can use Bitcoin's to transfer money easily, and you can find a number of businesses that accept the currency. Just last week the video game network Steam began accepting Bitcoin as payment for computer games. The company says in some emerging markets like India, China, and Brazil it's easier for people to pay for things internationally with Bitcoin than with a credit card. That's all for this Tech News Roundup, you can catch more at cnet.com From our studios in New York, I'm Bridget Carey. [SOUND] [MUSIC]

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