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Craig Wright is unable to prove he is Bitcoin's creator

Despite his previous claim earlier in the week that he is the true creator of Bitcoin, Craig Wright has failed to present the necessary proof to back up his claim.

Wright originally said that he would transfer bitcoins from 'block 9' using a key that was only known by Satoshi Nakamoto, the pseudonym of Bitcoin's original creator. If he had been able to accomplish this, it would have proved the belief held by many of Bitcoin's other creators that he was responsible for the creation of the cyrptocurrency.

However, Wright has now come out and said that he is not strong enough to provide the proof that would prove his claims. He detailed the difficulties he has experienced over the past week in a blog post: “I believed that I could do this. I believed that I could put the years of anonymity and hiding behind me. But, as the events of this week unfolded and I prepared to publish the proof of access to the earlies keys, I broke. I do not have the courage. I cannot.”

Wright has decided not to make his proof public although he did present proof to both his biggest supporters and to Jon Matonis and Gavin Andresen who are both senior members of the Bitcoin Foundation.

The pressure and personal attacks may also have persuaded Wright to not come forward: “When the rumours began, my qualifications and character were attacked. When those allegations were proven false, new allegation have already begun. I know now that I am not strong enough for this”.

Confusion still surrounds Wright's claim to be Satoshi Nakamoto. Security experts have denied the validity of his story and have written it off as a scam and a deception. This is mainly due to the fact that the digital signature Wright presented as his original proof originated in 2009 as part of a publicly documented transaction. However Andresen's background in the development of Bitcoin during its early stages continues to give some validity to Wright's claim.

More research is certainly needed into this matter and hopefully a full investigation will begin to prove without a doubt whether or not Craig Wright really is Satoshi Nakamoto.

Photo credit: Lightboxx / Shutterstock

Anthony Spadafora
After living and working in South Korea for seven years, Anthony now resides in Houston, Texas where he writes about a variety of technology topics for ITProPortal.