Dorian Satoshi Nakamoto to Get $21,000 Donation from Philanthropists

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Dorian Satoshi Nakamoto to Get $21,000 Donation from Philanthropists
Dorian Satoshi Nakamoto to Get $21,000 Donation from Philanthropists

 

Dorian Satoshi Nakamoto to Get $21,000 Donation from Philanthropists

When Newsweek came up with a news story that Dorian Satoshi Nakamoto, the Temple City, Calif. man was the mysterious creator of Bitcoin, for the first time the world saw who he was. However, when it came to light that he does not have an internet connection, no home, etc. it was unbelievable for thousands of people as it contradicted the popular belief that he was a rich man.

Nonetheless, though there will always be two opinions whether Mr. Nakamoto is a rich man or a pauper, people who care about him have tried to help him. Now, the cash-strapped old man will be getting $21,000 which has been collected by the crypto-currency community which pledged more than 47 Bitcoins during a month-long fundraising campaign.

The financial assistance to the founder of Bitcoin was needed as it was a kind of injustice with someone who created something that can be called the currency of the future. The idea first came in the mind of Andreas M. Antonopoulos, a crypto-currency investor and evangelist. He felt a need for financial assistance for Mr. Nakamoto.

Mr. Antonopoulos issued a call for funds at the beginning of March and thanks to his initiative just like all Bitcoin transactions, the donations were recorded on the Blockchain and can be easily inspected by donors. The collected money will be converted into dollars today and then transferred to Mr. Nakamoto.

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Though the fundamental aim of the collected money is to help Mr. Nakamoto, the organizers of the fund collection campaign say if the Bitcoin founder does not accept the charity money, it will be donated to the Electronic Frontier Foundation. Antonopoulos said that for security reasons, he plans to meet Mr. Nakamoto in person.

Mr. Antonopoulos will try to ensure that he delivers the funds to the right person, as pledged during the fundraiser. He said that he has been impressed by the generosity of the community and hopes that these funds will somewhat compensate for the egregious violation of his privacy due to the irresponsible and poorly researched article by Newsweek.

Bitcoin, a digital currency has transformed the way currencies are being conceived. Mr. Antonopoulos says that the donation is to thank the 64-year-old model train enthusiast. Though there is still no unanimous opinion whether Mr. Nakamoto is the one who should be called the founder of Bitcoin, it is increasingly becoming clear that he actually is.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com