**Features | In fact, the concept of Bitcoin has existed since Hal Finney created it in 1993**
A person suspected to be behind Satoshi Nakamoto, Hal Finney wrote the concept of Bitcoin since August 19, 1993 in a proposal titled 'Digital Cash & Privacy' uploaded by the Satoshi Nakamoto Institute.
"One of my concerns is that the shift to electronic payments will reduce personal privacy by making it easier to record and document transactions. It could be created a file that tracks spending patterns," he wrote, citing the Nakamoto Institute.
The emergence of digital money raised concerns for Finney. Because all transactions are recorded, personal privacy for users is reduced.
Thus, he acknowledges that the Bitcoin system can solve his problems. According to him, Bitcoin has advantages in recording and transacting anonymously.
"This system (Bitcoin) has several advantages compared to the system we are aiming for. There are no records kept about where I spend my money. For some transactions, I can be anonymous to the seller," he added.
