First Banksy and then Satoshi. Something about their unmasking is not sitting right with me. I am bothered by it. I am annoyed by it. And even more annoyed with myself because as a former journalist I should understand, but I don’t. I am referring to Reuters’s meticulous investigation and unmasking of Banksy, and John Carreyrou’s in-depth report labeling Adam Back as Satoshi, the creator of Bitcoin.
Both investigations are technically impressive. Both raised the same question I keep turning over: what exactly was accomplished here, and for whom?
The journalist gets a career-defining scoop. The subject loses something they can never recover. Anonymity, once broken, doesn’t come back. There’s no correction that restores it.
What if Carreyrou is overreaching? We have seen what it means to be a big player in crypto. It comes with personal risks. What is gained by the unmasking of Satoshi? The cryptocurrency ecosystem has produced kidnappings, extortion, and worse, all targeted at people known to hold significant crypto wealth. Satoshi, if the identification is correct, would be sitting on roughly a million Bitcoin. That’s not an abstraction.That makes him a target. If something happens to Back, can Carreyrou’s “oops, I am sorry” be enough?
Back has denied being Satoshi. Clearly and repeatedly. Let’s assume he is telling the truth. The Times presents its case as something close to settled. In any other context, a denial without refutation would at least give a serious publication pause. Not here. The scoop seems too good. Carreyrou is trading his reputation as a crack reporter as a seal of accuracy. Sorry, I don’t buy it. Fortune’s Jeff John Roberts put it well: Carreyrou produces no smoking gun, relies heavily on circumstantial evidence, and may have fallen into the oldest journalistic trap — confirmation bias. Roberts also raises the commonsense test. Would the inventor of Bitcoin, knowing that exposure would make him a target of every criminal and tax authority in the world, keep sitting down with journalists to discuss it?
More importantly, this is the Times.
This is the same publication that published a gushing piece on Medvi, a GLP-1 telehealth flimflam operation, calling it a “$1.8 billion company” run by two people, while missing the FDA warning letter, a class action lawsuit, thousands of fake doctor personas, and deepfaked before-and-after weight-loss photos. Sam Altman was summoned to bless it. What the Times chose not to mention is that Futurism had already reported all of this nearly a year earlier. I suspect because it came from a smaller publication. That is not an editorial oversight. That is intellectual arrogance. The NYT has lost its imprimatur of truth in my books. It is as click-chasing and attention-seeking as any social media platform it often mocks.
I am a big believer in accountability journalism. It unmasks wrongdoing. It exposes the powerful who hide behind institutions to avoid consequences. That’s a clear and defensible public interest. This is not accountability journalism, by any stretch of the imagination.
Banksy and Satoshi weren’t hiding wrongdoing. They were hiding themselves. In Banksy’s case, the anonymity IS the art. The whole point is that the work speaks without the person. The art appears without permission, without attribution, without a market position or a gallery or a brand to protect. That’s not incidental to its power. It is its power. The work on the wall speaks precisely because there is no face behind it available for interview.
With Satoshi, the anonymity IS the architecture. Bitcoin was designed to be leaderless. An identifiable founder is a vulnerability. Someone governments can pressure, someone courts can compel, someone bad actors can target. The anonymity wasn’t ego protection. It was architecture.
Unmasking either one isn’t just invasive. It is destructive to what they built.
How do humans become capable of treating other humans as objects? By refusing to see them. By reducing them to a category, a story, a fact that can be processed and moved past.
Social media has made this our default mode. Everything is content. Everyone is a take. I wrote in 2023 that social platforms stopped being social the moment they needed to generate profit. By then we were all hooked on likes, hearts, and retweets, and the boost they gave to our egos. The algorithm doesn’t see a person. It sees a signal. As I argued in 2020, the command is always the same: corral attention at any cost. Journalism at its worst has caught the same disease. The unmasking story is just attention farming. The moment happens, clicks follow, and then you are part of yesterday’s terabyte. That Banksy and Satoshi are real people with real exposure on the other end of it is incidental.
As I have argued many times before, we are now part of a data society where everything is captured by what, but we ignore the why. We scroll past human beings the way we scroll past headlines, registering, categorizing, moving on. Love is swipe left or right. A good food delivery is 5 stars and a minute late is one.
The attention and data economy have trained us to consume people rather than encounter them. The unmasking impulse of those who crave anonymity is that same gesture, just with more effort and better sourcing. Take a person who exists outside the system, drag them into it, give them a name, a face, a Wikipedia entry. File them away. Why should they be private when I share myself all day long to strangers? Why should their work be enough when my work doesn’t get me attention without me doing the monkey dance for clicks?
Philosophers have a word for this: totality, the belief that you can fully know another person. No, we can’t. It is hard to really know someone and their infinite contours.
Satoshi and Banksy maintained the gap between their work and their person. The investigations tried to close that gap. And closing it, they reduced a person to a name, a face, a provable identity. An object.
Reuters justified publishing by saying the public has “a deep interest in understanding” a figure of cultural significance. The Times made a similar argument about Bitcoin’s importance to the global financial system.
But follow that logic a little further. If cultural influence is sufficient justification to strip someone of their chosen anonymity, then we should be naming every whistleblower who has ever spoken to a journalist under protection. Deep Throat shaped American political history. The sources behind countless major investigations changed the world. By the Reuters standard, the public’s interest in knowing who they are surely outweighs their interest in remaining hidden.
Nobody argues that. Because we understand, intuitively, that the protection of anonymity is what makes the speech possible in the first place. Remove the protection and you remove the speech. The system depends on the gap being honored.
Whistleblowers, dissidents, artists working in dangerous political environments. All of them depend on the same norm these investigations just eroded a little further. Does Bitcoin become more or less useful, more or less free, with a named and targetable founder? I don’t think either calculation comes out in favor of publishing.
Perhaps you can tell, this bothers me.
In a post-professional journalism career, maybe I can afford a more moralistic stance. What if I were in the shoes of the same reporters? The scoop, after all, is the currency. And I don’t like my own answer. It is not a black and white question, but it is one that bothers me a lot, more than I think it should. Despite all that, I still don’t understand why the unmasking impulse is so strong.
Maybe We are uncomfortable with mystery, with things that exist outside our ability to categorize and file away? A famous artist with no name is a persistent itch. A trillion-dollar financial system with no identifiable creator feels incomplete, almost threatening. What if the discomfort of not knowing is the point.
In the end, to make the mystery manageable and to turn a person into consumable information is a very selfish act. They may be losing their privacy, but we have already lost our humanness. And our ability to let another person remain, fully and freely, themselves.
I was perfectly okay enjoying any new Banksy drop without knowing who he is. “I didn’t care and still don’t care who made Bitcoin. It is just that it makes people get rich, powerful, and act stupid. That is more fun in knowing who is Satoshi.
April 8, 2026. San Francisco.
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