Aussie tech entrepreneur outs himself as creator of bitcoin: media

Australian tech entrepreneur Craig Wright has outed himself as the creator of digital crypto currency Bitcoin to media organizations following years of speculation of the founder's identity.

Media reports on Monday revealed Wright, 45, had provided technical proofs, including coins known to be owned by the currency's creator, to three media organizations, including the BBC, The Economist and GQ Magazine.

Wright's self outing potentially ends years of speculation of the identity behind the pseudonym Satoshi Nakamoto, the author of the paper, protocol and software that was released in 2008, giving rise to the crypto-currency.

It's the second time Wright's name has been associated with the pseudonym.

Australian authorities raided Wright's northern Sydney home in December 2015 only hours after Wired Magazine and technology website Gizmodo said he was global crypto-currency's probable creator following an intensive investigation.

The articles were based off leaked emails, documents and web achieves including a transcript off a conversation between Wright and Australian tax officials.

Authorities at the time said the raids weren't associated with the media reporting about bitcoins, referring all inquiries to the Australian Tax Office (ATO), which under law, cannot comment on any individual's or entity's tax affairs.

Following media publications, in a blog post Wright announced he was bitcoins creator, providing proof include a technical explanation, examples of code and the process used to create the crypto-currency, subsequently thanking those who helped create and "nurture" the project.

"I cannot summon the words to express the depth of my gratitude for those that have supported the bitcoin project from its inception," Wright wrote.

"This incredible community's passion and intellect and perseverance has taken my small contribution and nurtured it, enhanced it, breathed life into it."

"You have given the world a great gift. Thank you."

However The Economist remained dubious, stating while Write could well be the founder, "important questions remain."

"Having been named as Mr Nakamoto once, unconvincingly, Mr Wright has a steep hill to climb to convince the world that he is indeed bitcoin's founder," The Economist said.

"Indeed, it may never be possible to establish beyond reasonable doubt who really created bitcoin."

Unravelling the mystery behind the pseudonym, Satoshi Nakamoto would be important not just to solve the riddle, but also for the future of the currency.

Unlike traditional currency, Bitcoins aren't backed by a physical asset such as gold or issued by a central bank. Instead the crypto-currency is "mined" by computers calculating sophisticated algorithms.

As an early adopter, it's believed Nakamoto might have as much as one million bitcoins, worth approximately 450 million U.S. dollars at current exchange rates, and potentially hold enough currency to influence its price.

The treatment of bitcoin in Australia has been the subject of debate in recent years, with the Australian Tax Office declaring the crypto-currency should be considered an asset for capital gains and tax purposes in December 2014. Endit