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Topic: If the real Satoshi came back and said... (Read 2434 times)

legendary
Activity: 2114
Merit: 1040
A Great Time to Start Something!
April 09, 2014, 08:35:28 PM
#29
He also made some mistakes, and some decisions of questionable value.

Examples?

Here are a few that come to mind right away:

Allowing the coinbase transaction to have the same hash in multiple blocks?

Allowing the miner to create a block that doesn't pay out the full reward?

Requiring the public key to be included along with the signature in the transaction inputs?

I'm sure there are others, but I figure 3 is enough to prove the point.

Allowing unconfirmed transactions to be malleable (one can say don't rely on tx id however the tx id could have been constructed to be immutable from day 0).
Using the use of uncompressed public keys (no advantage over compressed keys and given how critical space in the blockchain is it bloats the resource requirements).
Using 160 bit for PubKeyHash while PubKey only has 128 bit security (to benefit from 160 bit PubKeyHash would require 320 bit ECDA).
Having early coinbase tx payout to pubkeyhash instead of address (just adds needless complexity and now is a legacy cost).

All these vulnerabilities
https://en.bitcoin.it/wiki/Weaknesses#Security_Vulnerabilities_and_bugs

None of this should be an attack against Satoshi, he was brilliant, did what many considered impossible, and solve/prevented entire categories of exploits but he wasn't omnipotent.

I suppose the real Satoshi is more likely to contribute to BTC again than come up with a "great new coin".
donator
Activity: 1218
Merit: 1079
Gerald Davis
He also made some mistakes, and some decisions of questionable value.

Examples?

Here are a few that come to mind right away:

Allowing the coinbase transaction to have the same hash in multiple blocks?

Allowing the miner to create a block that doesn't pay out the full reward?

Requiring the public key to be included along with the signature in the transaction inputs?

I'm sure there are others, but I figure 3 is enough to prove the point.

Allowing unconfirmed transactions to be malleable (one can say don't rely on tx id however the tx id could have been constructed to be immutable from day 0).
Using the use of uncompressed public keys (no advantage over compressed keys and given how critical space in the blockchain is it bloats the resource requirements).
Using 160 bit for PubKeyHash while PubKey only has 128 bit security (to benefit from 160 bit PubKeyHash would require 320 bit ECDA).
Having early coinbase tx payout to pubkeyhash instead of address (just adds needless complexity and now is a legacy cost).

All these vulnerabilities
https://en.bitcoin.it/wiki/Weaknesses#Security_Vulnerabilities_and_bugs

None of this should be an attack against Satoshi, he was brilliant, did what many considered impossible, and solve/prevented entire categories of exploits but he wasn't omnipotent.
legendary
Activity: 3472
Merit: 4801
He also made some mistakes, and some decisions of questionable value.

Examples?

Here are a few that come to mind right away:

Allowing the coinbase transaction to have the same hash in multiple blocks?

Allowing the miner to create a block that doesn't pay out the full reward?

Requiring the public key to be included along with the signature in the transaction inputs?

I'm sure there are others, but I figure 3 is enough to prove the point.
newbie
Activity: 37
Merit: 0
I wouldn't believe it is real satoshi.

I would guess someone just get brilliant idea and hacked his account.
sr. member
Activity: 364
Merit: 250
You are Sotoshi Nakamoto. We are all Satoshi Nakamoto.

I'm Spartacus!
No! I'm Spartacus  Grin Why didn't we start this when Dorian Nakamoto was arrested?  Grin
member
Activity: 70
Merit: 10
You are Sotoshi Nakamoto. We are all Satoshi Nakamoto.

I'm Spartacus!
hero member
Activity: 714
Merit: 500
Satoshi is not really that mastermind, like a lot of People here think.
Sure, BTC are his idea, sure without him, there would never have been BTC, but when it Comes to really implementing the whole Thing, Satoshi is not the right Person to do it.
Read this interview: http://blogs.wsj.com/moneybeat/2014/03/06/bitcoin-foundations-andresen-on-working-with-satoshi-nakamoto/
member
Activity: 85
Merit: 10
I would go for it happily after ID proof.  Roll Eyes
sr. member
Activity: 462
Merit: 250
I would stay with both, of course.

Bitcoin was the original cryptocurrency so it has a clear advantage over the rest. The Bitcoin community is far greater in size and the Bitcoin infrastructure is far more developed than all the other altcoins combined so it would be pretty unwise to abandon it completely but then again, let's face it - anything Satoshi touches is pretty much destined to become gold.

He also made some mistakes, and some decisions of questionable value.

Examples?
hero member
Activity: 574
Merit: 500
This would never happen.

Never say never, people thought flying would never be possible...
hero member
Activity: 574
Merit: 500
I would say sign that message with the genesis block key.
Oh yeah, and if "the real God" came back, I'd be satisfied by Him tossing a cow up in the air and turning it into the world's largest taco.

No way. CIA psyops bullshit, man. They're altering my perception with their MKULTRA garbage and compromising Satoshi's keys with the same programming. Shit - you even notice what color the sky was today? Purple, and everything tasted like purple, too. Fuck that.

What are you going on about???
sr. member
Activity: 326
Merit: 250
This would never happen.
hero member
Activity: 798
Merit: 1000
I wouldn't switch per se but would certainly buy some to see where it goes. Lets be honest if you were one of the first to see him say that you could easily x a few hundred to your current stash. Biggest pump and dump ever assuming the new coin doesn'y have any new innovations.
donator
Activity: 1218
Merit: 1015
Many people are arguing about legibility of Satoshi's real identity instead of focusing on the main question here. The question implies that the identity is proved; the real question is if you'd switch to the new coin or not.

For me, I'd definitely switch to the new coin, because most others also will, and the network effect will benefit the new coin in real world market, not Bitcoin.
The legitimacy of the statement is critical to the question because it determines how many people move.

"satoshi" could post with his forum account that everyone needs to move to Nybble, and it'd take a Hell of a lot more than "satoshi" saying to for me to move. That assumes I would follow "the real satoshi" (which is a fairy tale as far as I can tell) wherever he says just because he says, which I wouldn't, and I'd hope more than a handful of people would ask whether or not it's following lemmings off a cliff for short-term gain.
sgk
legendary
Activity: 1470
Merit: 1002
!! HODL !!
Many people are arguing about legibility of Satoshi's real identity instead of focusing on the main question here. The question implies that the identity is proved; the real question is if you'd switch to the new coin or not.

For me, I'd definitely switch to the new coin, because most others also will, and the network effect will benefit the new coin in real world market, not Bitcoin.
member
Activity: 84
Merit: 10
I won't follow unless he proves he is the real satoshi  Tongue I won't change from BTC , it's working in a good way "though I might try to earn from the attention to that other coin"
legendary
Activity: 3472
Merit: 4801
In all honesty... I would probably switch over to the new coin as fast as possible.

Satoshi came up with a creative and elegant solution to the complex problem of distributed consensus.  He managed to work in some financial incentives to participation, and a reasonably fair way to handle the initial distribution of funds into the system.

He also made some mistakes, and some decisions of questionable value.

He is clearly not omniscient, and unless his new coin could demonstrate real solutions to real problems with a significant benefit over bitcoin, it would only be the foolish that would quickly abandon bitcoin for the latest "coin of the hour" regardless of who announces it.  Fortunately, there are a lot of fools that would do exactly that, providing me plenty of opportunity to pick up some very cheap bitcoins.  Then when those people all try to come back to bitcoin, I'll happily sell those bitcoins back to them at a significant markup.
member
Activity: 81
Merit: 10
In all honesty... I would probably switch over to the new coin as fast as possible.
legendary
Activity: 1834
Merit: 1094
Learning the troll avoidance button :)
If the real Satoshi came back and said "this new coin is much better", would you switch or stay with BTC?
I would be involved with both.
How about you?

Depends on if Satoshi verifies his Bitcoin holdings since he has a large share here and if he is willing to move on then I would trust him to make the transition safely without screwing the prices too badly but yep would stay with both  
legendary
Activity: 2114
Merit: 1040
A Great Time to Start Something!
I would say sign that message with the genesis block key.
Oh yeah, and if "the real God" came back, I'd be satisfied by Him tossing a cow up in the air and turning it into the world's largest taco.

No way. CIA psyops bullshit, man. They're altering my perception with their MKULTRA garbage and compromising Satoshi's keys with the same programming. Shit - you even notice what color the sky was today? Purple, and everything tasted like purple, too. Fuck that.

LOL
That taco sounds pretty good right now.  Cheesy
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