Satoshi Nakamoto Officially Interviewed by James Hoffman an Investigative Journalist

[Satoshi Nakamoto]

**Official Interview with Satoshi Nakamoto**

**Date:** 19.07.2025
**Location:** London
**James Hoffman:** Hoffman Investigative Journalist
**Subject:** The Creator of Bitcoin

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### **1. James Hoffman:** Thank you for joining us. Let’s start with the most obvious question: *What inspired you to create Bitcoin?*

**Satoshi Nakamoto:** The 2008 financial crisis exposed deep flaws in the global financial system—centralized control, moral hazard, and a lack of transparency. I wanted to create a decentralized, trust less alternative to fiat money—one where individuals could control their own wealth without relying on banks or third parties.

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### **2. James Hoffman:** Why the name “Bitcoin”?

**Satoshi Nakamoto:** I wanted a name that was simple, descriptive, and hinted at its essence. "Bit" for digital, and "coin" for money—it conveyed the idea of a purely digital currency without the need for intermediaries.

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### **3. James Hoffman:** Why did you choose to remain anonymous?

**Satoshi Nakamoto:** Anonymity wasn't just personal—it was strategic. Bitcoin needed to be decentralized, and a central figurehead would undermine that principle. I didn’t want the system to rely on me. It had to stand on its own.

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### **4. James Hoffman:** Let’s talk about the Genesis Block. Why did you embed the “Chancellor on brink of second bailout for banks” headline?

**Satoshi Nakamoto:** It served two purposes: First, as a timestamp—proof the Genesis Block wasn’t pre-mined. Second, it was a statement about the motivation behind Bitcoin. It was a critique of the centralized banking system and a symbol of what Bitcoin stood against.

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### **5. James Hoffman:** How long did it take you to write the whitepaper?

**Satoshi Nakamoto:** The ideas had been developing in my mind for a while. Writing the paper itself took only a few weeks, but refining it and implementing the code took much longer. Precision mattered.

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### **6. James Hoffman:** Why did you implement Proof-of-Work?

**Satoshi Nakamoto:** It was the only known way to achieve decentralized consensus while making it prohibitively expensive to cheat. Proof-of-Work was inspired by Adam Back’s Hashcash and helped to secure the network without needing trusted third parties.

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### **7. James Hoffman:** Why is there a maximum of 21 million bitcoins?

**Satoshi Nakamoto:** It’s a hard-coded supply cap meant to mimic scarcity—like gold. Scarcity creates value. Inflationary currencies destroy purchasing power over time. Bitcoin was built to be deflationary by design.

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### **8. James Hoffman:** How do you feel about forks like Bitcoin Cash?

**Satoshi Nakamoto:** Forks are part of open-source governance. I don’t agree with every direction they’ve taken, but ultimately, users decide with their nodes and their wallets. If a fork truly delivers better value, the market will recognize it.

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### **9. James Hoffman:** Do you still hold your original Bitcoins?

**Satoshi Nakamoto:** I mined the early blocks to bootstrap the network. Those coins remain untouched. My goal was to start something—*not* to become rich from it.

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### **10. James Hoffman:** One final question for now—if you could give one message to the world about Bitcoin today, what would it be?

**Satoshi Nakamoto:** Don’t trust—*verify*. Bitcoin empowers people to be their own bank, but with that freedom comes responsibility. Educate yourself. Protect your keys. And remember: the protocol is neutral. How we use it defines its legacy.

---



**Official Interview with Satoshi Nakamoto**

**Date:** 19.07.2025
**Location:** London
**James Hoffman:** Hoffman Investigative Journalist
**Subject:** The Creator of Bitcoin

---

### **1. James Hoffman:** Thank you for joining us. Let’s start with the most obvious question: *What inspired you to create Bitcoin?*

**Satoshi Nakamoto:** The 2008 financial crisis exposed deep flaws in the global financial system—centralized control, moral hazard, and a lack of transparency. I wanted to create a decentralized, trust less alternative to fiat money—one where individuals could control their own wealth without relying on banks or third parties.

---

### **2. James Hoffman:** Why the name “Bitcoin”?

**Satoshi Nakamoto:** I wanted a name that was simple, descriptive, and hinted at its essence. "Bit" for digital, and "coin" for money—it conveyed the idea of a purely digital currency without the need for intermediaries.

---

### **3. James Hoffman:** Why did you choose to remain anonymous?

**Satoshi Nakamoto:** Anonymity wasn't just personal—it was strategic. Bitcoin needed to be decentralized, and a central figurehead would undermine that principle. I didn’t want the system to rely on me. It had to stand on its own.

---

### **4. James Hoffman:** Let’s talk about the Genesis Block. Why did you embed the “Chancellor on brink of second bailout for banks” headline?

**Satoshi Nakamoto:** It served two purposes: First, as a timestamp—proof the Genesis Block wasn’t pre-mined. Second, it was a statement about the motivation behind Bitcoin. It was a critique of the centralized banking system and a symbol of what Bitcoin stood against.

---

### **5. James Hoffman:** How long did it take you to write the whitepaper?

**Satoshi Nakamoto:** The ideas had been developing in my mind for a while. Writing the paper itself took only a few weeks, but refining it and implementing the code took much longer. Precision mattered.

---

### **6. James Hoffman:** Why did you implement Proof-of-Work?

**Satoshi Nakamoto:** It was the only known way to achieve decentralized consensus while making it prohibitively expensive to cheat. Proof-of-Work was inspired by Adam Back’s Hashcash and helped to secure the network without needing trusted third parties.

---

### **7. James Hoffman:** Why is there a maximum of 21 million bitcoins?

**Satoshi Nakamoto:** It’s a hard-coded supply cap meant to mimic scarcity—like gold. Scarcity creates value. Inflationary currencies destroy purchasing power over time. Bitcoin was built to be deflationary by design.

---

### **8. James Hoffman:** How do you feel about forks like Bitcoin Cash?

**Satoshi Nakamoto:** Forks are part of open-source governance. I don’t agree with every direction they’ve taken, but ultimately, users decide with their nodes and their wallets. If a fork truly delivers better value, the market will recognize it.

---

### **9. James Hoffman:** Do you still hold your original Bitcoins?

**Satoshi Nakamoto:** I mined the early blocks to bootstrap the network. Those coins remain untouched. My goal was to start something—*not* to become rich from it.

---

### **10. James Hoffman:** One final question for now—if you could give one message to the world about Bitcoin today, what would it be?

**Satoshi Nakamoto:** Don’t trust—*verify*. Bitcoin empowers people to be their own bank, but with that freedom comes responsibility. Educate yourself. Protect your keys. And remember: the protocol is neutral. How we use it defines its legacy.

---