FindSatoshi Campaign Suffers from Lack of Foresight

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FindSatoshi Campaign Suffers from Lack of Foresight

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An Estonian man named German Neff has created the FindSatoshi movement, which has a goal of finding Satoshi Nakamoto using whatever it takes to finally reveal the Bitcoin creator’s identity, regardless of Satoshi’s wishes to stay anonymous. Neff is using a Russian crowdfunding site and has received RUB 5.5 million (USD 80,700) so far to fund this effort.

However, some observers believe the FindSatoshi movement could lead to unintended consequences for multiple reasons.

First off, there is no guarantee that Neff won’t just run away with the money. All of the money will be put into his control and there is nothing stopping him from pretending to try and find Satoshi while pocketing all the money.

More importantly, the FindSatoshi movement pledges to use private investigators in the USA, Japan, Russia, and the UK to find Satoshi Nakamoto. If Neff follows through on this, it could turn into a global manhunt, similar to manhunts usually reserved for narco criminals and terrorists. This could bring up ethical concerns, as Satoshi has committed no crime and has always chosen to stay hidden.

Further, if FindSatoshi is successful and they definitively find out who Satoshi really is, then the pseudonymous creator of Bitcoin could be under constant threats from parties attempting to access his stash of over BTC 1 million.

The reasons that FindSatoshi presents for finding Satoshi Nakamoto, as well as the wording, make it even worse. For example, “We, the international group of crypto-enthusiasts #Findsatoshi, are initiating an international search for the creator of Bitcoin Satoshi Nakamoto. The cryptocurrency world needs to be sure that the cryptocurrency is not a global fraud… We pay the cryptocurrency world with our faith and we have the right to know the identity of Satoshi. And if Satoshi himself does not want publicity, we must declassify it ourselves.”

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