Sculptors to Build a Satoshi Nakamoto Statue in Budapest

The Hungarian capital will immortalize the anonymous creator of Bitcoin by building a bronze statue of him. The designers of the project plan to put a hoodie on his head to represent his anonymity.

A Statue of His Honor

The secret identity of Bitcoin’s creator – with the pseudonym Satoshi Nakamoto – remains one of the biggest mysteries in the crypto community. Even though no one knows his (or her) real name, sculptors from the Hungarian capital Budapest decided to erect a life-size bronze statue in their honor.

According to the local paper Hungary Today, Réka Gergely and Tamás Gilly will create the statue with a hoodie on top of his head, referring to his unknown identity. Moreover, the figure will have a face, but it will be a reflective surface, so everyone staring at it will see themselves strengthening the idea that ”we are all Satoshi.”

András Györfi – the crypto enthusiast who launched the project – highlighted Bitcoin’s merits and Satoshi Nakamoto’s major innovation:

”It is an efficient, fair, and transparent database that eliminates distrust between people and can make the world a better place in many areas, from food supply to aid delivery.”

The funding for the project came from four Hungarian organizations – Blockchain Budapest, Mr. Coin, Crypto Academy, and Blockchain Hungary Association.

Interestingly, the future bronze statue of Satoshi Nakamoto will be erected in Graphisoft Park in Budapest’s 3rd district – the neighborhood which already has a statue depicting the founder of Apple – Steve Jobs.

Satoshi Won’t Use His BTC

Experts in the crypto community believe that Satoshi Nakamoto had mined nearly 1.1 million BTC back when the network was first launched. However, the prominent Argentinean researcher Sergio Demian Lerner opined that this amount would never be used because of the selfless nature of Nakamoto. Furthermore, selling these 1.1 million BTC could cause catastrophic consequences for the price of the primary cryptocurrency.

The Argentinean is the designer of the second layer Bitcoin protocol RSK. He is also known to be the inventor of the so-called Patoshi pattern. According to it, back in the early days of Bitcoin, a miner used a slightly different algorithm to mine 1.1 million bitcoins, which caused many people to believe that it was Satoshi Nakamoto.