I saw a news story about an HBO documentary that supposedly will reveal the identity of Satoshi Nakamoto. Maybe it's just marketing, but it has reignited speculation in the community about who really created Bitcoin. And here’s an interesting observation — among the main candidates, one name keeps popping up: Nick Szabo.

What’s interesting about Nick Szabo? He’s an American cryptographer, legal scholar, and computer scientist who began contributing to blockchain technology back in the 90s — long before Bitcoin even existed. He graduated from the University of Washington with a degree in computer science in 1989, then earned a PhD in law from George Washington University. Even then, it was clear that he was a person with serious expertise.

But what truly sets Nick Szabo apart is that in 1994, he introduced the concept of smart contracts. It was an idea to embed legal obligations directly into code, into a digital environment. Today, that’s the foundation of the entire blockchain industry, but back then, it was revolutionary. Four years later, in 1998, Szabo proposed his version of digital currency — “bit gold.”

This is where it gets interesting. Szabo’s bit gold was fully digital, didn’t require intermediaries, and solved the double-spending problem through proof-of-work. Sounds familiar, right? The network used a chain of cryptographic solutions, although it relied on a quorum of addresses instead of computational power, which later proved vulnerable to Sybil attacks. But conceptually, it was very close to what Bitcoin later became.

Szabo himself described his idea like this: “A long time ago, I had the idea of bit gold because the problem was simple — our money depends on trust in third parties regarding their value. The 20th-century history is full of inflation and hyperinflation, showing that this doesn’t work. No wonder that bit gold is widely considered the main predecessor of Bitcoin.”

Ten years passed. In October 2008, Satoshi Nakamoto published the Bitcoin white paper. And that’s where the speculation begins. Nick Szabo is one of the most serious candidates for the role of Satoshi. Market predictions estimate his chances at double digits, while other contenders have single-digit probabilities.

What supports this theory? First, it’s obvious that Szabo has the necessary technical skills. Second, there are analysts who note an astonishing similarity in Szabo’s writing style and Satoshi’s. Both referenced economist Karl Menger. Third, both are known for their concern with privacy issues. And, most interestingly, Nick Szabo constantly denies being Satoshi — unlike those who openly claim the title.

And here’s the logic I see: if history has taught us anything about Satoshi Nakamoto, it’s that those who claim to be him are almost certainly not. Anonymity was a choice, and it seems to have been a deliberate one.