New Research Suggests Hal Finney Was Not Satoshi Nakamoto

In an extensive analysis, the American software engineer and columnist Jameson Lopp tackles the enduring mystery of Bitcoin’s creator, Satoshi Nakamoto. While many have speculated that computer scientist Hal Finney was behind the pseudonym, Lopp presents several compelling instances that counter this theory. Here’s what Lopp’s research unveiled.

The Satoshi Mystery: Jameson Lopp’s Research Debunks Hal Finney Theories

The identity of Satoshi Nakamoto, since Bitcoin’s genesis in 2009, has remained one of the biggest mysteries. While Nakamoto’s true identity doesn’t alter Bitcoin’s trajectory, the speculation has had tangible repercussions for individuals like Hal Finney.

In his report, Jameson Lopp describes how speculation had affected Finney’s life and Dorian Nakamoto as well when the California resident was accused of being Bitcoin’s creator. Additionally, several scammers have falsely claimed to be Satoshi, hoping to capitalize on the reputation.

A notable piece of evidence from Lopp’s research arises from a 10-mile race that Finney participated in on April 18, 2009. During the 1 hour and 18 minutes Finney was racing, Satoshi was simultaneously exchanging emails with the former Bitcoin developer Mike Hearn.



Lopp delves into time zones and email timestamps to elucidate this. Mike Hearn, based in Zurich at that time, received a response from Satoshi at 6:16 p.m. (his local time), which translates to 9:16 a.m. Pacific time. This was a mere 2 minutes before Hal Finney crossed the race finish line in California.

Skeptics might wonder if Finney had someone else run in his place. However, third-party photographic evidence, such as photographs from the event service Photocrazy and a picture taken by Finney’s wife, confirms Hal’s participation in the race.



Another significant event took place on the same day. Satoshi sent Mike Hearn 32.5 BTC, a transaction that was confirmed at 8:55 a.m. Pacific time. This was a mere 20 minutes before Satoshi replied to Mike’s email.

The transaction’s timing is crucial. The previous block in the Bitcoin blockchain was mined at 8:28 a.m. Pacific time. This indicates that the transaction Satoshi sent to Hearn was likely crafted, signed, and broadcast between 8:28 a.m. and 8:55 a.m. – a period when Finney was still racing.

Further supporting evidence comes from the analysis of mining block subsidies. Blocks 11,407, 11,408, and 11,409 were all believed to be mined by “Patoshi”, who is likely Satoshi. According to Lopp’s findings, the timing of these blocks again overlaps with Finney’s race.

Lopp’s research is a testament to the depth and complexity surrounding the identity of Satoshi Nakamoto. While it doesn’t conclusively determine Nakamoto’s identity, it provides evidence against Hal Finney being the mastermind behind Bitcoin.

What do you think about Lopp’s research and the evidence he presents arguing that Finney was not Satoshi? Share your thoughts and opinions about this subject in the comments section below.