Topic: Can Satoshi Stop bitcoin? - page 6. (Read 1165 times)

I am forever thankful to Mr. Satoshi Nakamoto for giving us a chance to be a part of crypto world and also for inventing this one of a kind creation which is BITCOIN. Because without this crypto world and the crypto currency, I don't see myself working this hard, posting everyday just to earn a real and great amount of money and also meeting and having chitchat with other people in cyber world.

This is a very interesting question. I think Bitcoin is designed to become unstoppable because if somebody can stop it, nobody will risk their money on the bitcoin world.

I don't think so. Satoshi designed Bitcoin so that it cannot be stopped. Why would someone stop their own creation, unless it was evil?


It isn't really about rights. It is more about if it is possible or not. It's sort of like asking if someone can end the internet. We far too invested in crypto to have it go anywhere, anytime soon.

As far as I know, technically no one has the right to stop any open-source decentralized cryptocurrency after deployed. Because if someone runs nodes & continues mining then it will exist. For example, if everyone stops store blockchain and stop mining, then you can start yours, so Bitcoin will live on the blockchain. But if satoshi wants then he could make trouble emotionally. If he can sign a message from his owned address and start selling or manipulating then we will encounter huge problems. Or if he stands against bitcoin then the community will break down and we can say the game of bitcoin would almost over. But I don't think it will happen. Who will destroy his own worlds which have created by himself? But remember, the value of bitcoin is different story.

Just got curious what stop again? Does the bitcoin already stop? As far as I know, it doesn't stop and never be.

Also, the bitcoin is a decentralized right now even Satoshi wants to stop this it can't because there are a lot of people right now makes an investment with this coin also there are a lot of people which is investors with large amount also known as whales will make a large amount of loss on it which is a cause of loss of a large amount of money.

Satoshi is estimated to own about 1 million bitcoins, with the current supply, that's just above 5% of overall percentage, if we consider lost bitcoins, that value of Satoshi's stash would go higher.
If you meant it is the largest personal stash of anyone, then that is almost certainly right.

If we consider that Satoshi holds majority of overall percentage of Bitcoin, he can shift the market.
But as stated that Bitcoin, cryptocurrency in general in widespread now, it won't just stop.
Satoshi may have eminent influence over Bitcoin but not on extent of stopping its existence.

wait , did he stop btc before ? because you ask if he will stop it again . i didnt feel that happened or im only late to enter in the btc realm  .

 he is the inventor therfor he controlls everything  , he will stop it when he sees that btc aint doing any good but so far we all see that btc brings positive effect compare to its side effect or negative effects so il say that he will not stop it yet  .

he really created something very good that is causing many very good changes


truth


you said yourself that there is no government capable of stopping bitcoin now that it is well known, so why do you think satoshi Nakamoto alone could stop bitcoin? understand the following:

Bitcoin enabled the mining business that made many large farm owners wealthy

Bitcoin allowed Antiminer business

Bitcoin enabled Exchanges trading that allowed many exchange owners to become rich

Bitcoin allowed ICOS and many altcoins that made its creators rich to exist

at that point satoshi is no longer relevant and there is no way to stop this system that is totally out of his control, the maximum that satoshi can achieve would be to temporarily affect the price

You're saying this as if Satoshi has already been involved in stopping it. That's just WRONG!!!
For what we know Satoshi might just be an alias either for an individual or a group and even if this referred to a group then as a group of individuals they won't be able to stop BTC.

The highest effect this may lead to might be strong market positioning but not much other than that because the network has grown so much that the influence and power doesn't lie with anybody but the consortium made up of every major BTC holder.

He could manipulate the price but he don't have "kill switch" of the network. The power of decetnralization

Definitely not.  I think so because Bitcoin had climbed to what it is right now without the guidance or governance of Satoshi.  If ever there is a change of wind and Satoshi does appear telling us that we must stop Bitcoin, I think it will only have an effect for a very short time.  Possibly a crash in price but eventually Bitcoin will recover.

Bitcoin survived and flourish without satoshi so I believe that Satoshi can't stop Bitcoin to thrive.

There are two scenarios:
- some country having more than enough miners located in it jurisdiction decides to storm the farms and trash it, (this could only be in happening in China), if indeed 60% of the hash rate is taken out and it happens exactly after an adjustment then you're looking at 42  days of 2 blocks per hour network capacity, with a maximum of 200k tx getting confirmed a day. And what is worse, is that after that they could put the hash rate back in action, the next period will happen in 5 days rather than 14, and then play again.
- somebody with extreme large pockets starts taking over enough mining farms buying them and then shuts them down or ..directs them to mine a shitcoin I should not name.

As returning to the early days, that would be impossible.
For example, the hashrate in May 2013 was at around ~100TH/s, nowadays a single S19Pro can do that, no, it would be straight impossible to see again anything below 2014 levels. We have miners here n the forum with more than 1-2 PH of hash that would probably mine for while even if the network is hit by an attack

Although the network would survive its confirmation capacity will be greatly affected and so will the trust in the coin, in my opinion, far worse than a dump with all of Satoshi's coins.

For Satoshi...what if the CIA comes in the open and signed a message and discloses all information on how they've created it all?  
Damn, that would be a shitshow worth watching!!

Satoshi never did try to stop his invention, in fact once he released the first version, he and other early bitcoin developers try to improved it and make it resistance to attack and weed off bugs, like this one, Strange block 74638.

If he chooses to sell some of his early bitcoin, it might cause a panic, but there are still around ~3 BTC to be mine so I guess it will recover.

What do you mean by stopping it again? I don't remember or see anything in history that satoshi nakamoto stop it before. What I know is, his real identity and whereabout is unknown. It also means that bitcoin continue to move forward and no one stop it before, not even satoshi himself.

How? But dumping his stash of bitcoin? but altering the code? I don't think so. Satoshi is not that dumb to do stupid things at this point. The only way to stop bitcoin is through 51% attack but that will be costly and no one will try to attempt it, because they are just going to waste their money and it is not sustainable.

Satoshi's name is barely just an alias. But no one knows what nationality he has, he could be a slang european or american. I wonder why Japanese name is the one he chose for his nickname.

The bitcoin technology has been deploy. Even Satoshi came back there is no way to stop and even eradicate it. The 21million bitcoin will remain and will circulate even 50years from now.

But with the bitcoin he has, he can manipulate the market to direction he wants. But that would be impossible to happen since his absence.

Do you think that Satoshi Nakamoto is the "owner" of Bitcoin?
Do you really understand the term "decentralized"?Bitcoin is decentralized,which means that no single person(even Satoshi Nakamoto himself) can change the blockchain without the support of the majority of Bitcoin miners and users.Consensus is need,in order to fork the BTC blockchain.
If the real Satoshi appears out of the shadows,he will have to prove his identity in a way that leaves no doubt,that he is the one and only creator of Bitcoin.
By the way,I don't remember Satoshi ever claiming to be a Japanese citizen.

No, now the bitcoin project is bigger than the pet project of Satoshi which he created. Now the only possible thing he can do is either sell his bitcoins for making the market fall and that too can't hurt the market in the long run as the market would again bounce up and cover all the losses. So, I guess it will be good for him to do whatever he is doing right now, just wait and watch the bitcoin grow and when ready to reap the profits by selling his bitcoins, this will be fruitful for him as well as for the community too.

If you have been accomplished such wonderful things and you are a creator. Would you able to destroy this even it took for how many years before you build the system? I don't think if he created bitcoin for only days or weeks, my guess it is years before he/they completed the code of bitcoin. So, what is the purpose of destroying this?

Satoshi Nakamoto has nothing to do with bitcoin even if he reveals his self. The demand and supply were on the hand of bitcoin believers as an holder, that's the price works on.