The first version seems to be the most logical explanation to his anonymous identity
No one knows whether Satoshi Nakamoto is still alive or already died because nobody know who is or are Satoshi Nakamoto.
in the second case, I am sure that it's impossible for an alive person to remain anonymous for such a long time, especially after such a huge success but his disappearance is what makes Bitcoin the number one currency to my mind.
It is possible because your privacy and anonymity is safe or not safe, all starts with your beginning, not with what you do in the middle or the end of your journey. The communities, Bitcoin communities and non-Bitcoin communities, have failed to find true identity of Satoshi Nakamoto because the founder hid his identity very carefully when he started.
I believe that identity of Satoshi Nakamoto will never be known if he won't reappear and announce it, of course with valid evidence.
Satoshi was a Tor user.Satoshi might be mentally derranged.I'll probably release Satoshi's PMs and logged IPs addresses in ~8 years. This'd probably be of great historical interest. (Though he always used Tor, as far as I can tell.)