If you knew the founder of Bitcoin, would you still use it?

goldkingcoiner

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Quote from: Synchronice on May 15, 2022, 03:37:37 PM

Honestly, I am very obsessed with this question. We don't know who is behind the bitcoin, at the moment Satoshi Nakamoto is just a made-up thing in our head. At the moment we think that he is a savior and helps us to gain financial freedom and protect our privacy but let's imagine some bad case scenarios for interesting discussion. At the moment, Satoshi has around 1 million bitcoin.

What if it was created by one of the worst person ever? What if he wants to make us dependent on bitcoin as much as possible and one day he comes, sells all his coins and causes financial catastrophe.
What if it was created by persons like Mark Zuckerberg, Bill Gates, Jeff Bezos, etc. These are the people who don't respect their customers' privacy.

What if there is one specific, concrete country behind the scenes? Bitcoin is a mixture of the cyber and financial worlds, this is the greatest power stack to own.

The inspiration for me to create this thread was this video.
P.S. I don't agree with Dan Pena, I would even say that if he knew who was behind the bitcoin, as he says, he couldn't sleep at night or could sleep forever.

Well, I would still believe in Bitcoin as I do now, however I would become extremely wary of the founder's wallets and the up until now untouched Bitcoin. You never know when they might decide to crash the price by cashing out. Assuming that the Bitcoin founder is someone I would not trust to believe in Bitcoin in the first place...

If the identity does get out one day, I will probably do a quick sell because I suspect there will be a panic selling. I would however buy back at the bottom or at what I consider to be a good buying price level.

Unless we find out that Bitcoin was made by the CIA or Chinese government or something. I would be EXTREMELY wary of the unsold massive amount of Bitcoins under their wallets. In such a case I would not feel safe buying until they sell all their coins, as they undoubtably would favor their own countries fiat currency over Bitcoin.

Viscore

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Quote from: Synchronice on May 15, 2022, 03:37:37 PM

Honestly, I am very obsessed with this question. We don't know who is behind the bitcoin, at the moment Satoshi Nakamoto is just a made-up thing in our head. At the moment we think that he is a savior and helps us to gain financial freedom and protect our privacy but let's imagine some bad case scenarios for interesting discussion. At the moment, Satoshi has around 1 million bitcoin.

What if it was created by one of the worst person ever? What if he wants to make us dependent on bitcoin as much as possible and one day he comes, sells all his coins and causes financial catastrophe.
What if it was created by persons like Mark Zuckerberg, Bill Gates, Jeff Bezos, etc. These are the people who don't respect their customers' privacy.

What if there is one specific, concrete country behind the scenes? Bitcoin is a mixture of the cyber and financial worlds, this is the greatest power stack to own.

The inspiration for me to create this thread was this video.
P.S. I don't agree with Dan Pena, I would even say that if he knew who was behind the bitcoin, as he says, he couldn't sleep at night or could sleep forever.

I would still want to use bitcoin regardless of who the founder is. As long as its legal and does not lead us into being in prison, then there's no reason why people should not be using it. However, if we know in the first place that the one who founded it is a criminal, i prefer to analyze its first its advantages and disadvantages before i decide to use it. Because sometimes, the persons whom we thought that could be a threat to the government are somehow could create the best invention that the people will make the most benefit in the future.

amishmanish

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Yes I would have done it, and that too with more confidence. If there had been a custodian of bitcoin, he would have had an inherent interest in value of bitcoin and the enterprise would have done everything to ensure to help bitcoin grow. More over there had been an legal entity who is answerable to law in case of any scam. That would have increased my confidence. Lastly there would have been more structured facilities for running bitcoin based services and for R&D. That too would have helped bitcoin more

Ale88

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Quote from: Synchronice on May 15, 2022, 03:37:37 PM

Honestly, I am very obsessed with this question. We don't know who is behind the bitcoin, at the moment Satoshi Nakamoto is just a made-up thing in our head. At the moment we think that he is a savior and helps us to gain financial freedom and protect our privacy but let's imagine some bad case scenarios for interesting discussion. At the moment, Satoshi has around 1 million bitcoin.

What if it was created by one of the worst person ever? What if he wants to make us dependent on bitcoin as much as possible and one day he comes, sells all his coins and causes financial catastrophe.
What if it was created by persons like Mark Zuckerberg, Bill Gates, Jeff Bezos, etc. These are the people who don't respect their customers' privacy.

What if there is one specific, concrete country behind the scenes? Bitcoin is a mixture of the cyber and financial worlds, this is the greatest power stack to own.

The inspiration for me to create this thread was this video.
P.S. I don't agree with Dan Pena, I would even say that if he knew who was behind the bitcoin, as he says, he couldn't sleep at night or could sleep forever.

Let's say that sometimes I wondered as well if bitcoin's creator(s) some day, when (and if) bitcoin will have a huge value in $, may suddenly come back and dump everything on us, like he has this super long evil plan, and of course a lot of patience as well since it's already been more than 12 years now. Everything is possible of course, probably as soon as someone notices a movement from Satoshi's address, even for a single bitcoin, panic would start.

hZti

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In my opinion Satoshi is not a human but a group. In the Whitepaper Satoshi Nakamoto always talks as " we ". Also to me it is unbelievable that nobody knows who are the members of that group. For example was this from domain registered by somebody, like many other services. It would be easy for people that have the right access, like the domain registry to find out who they are. In my option those people just choose to never tell anyone. What supports this is, that nobody in 2009 knew that bitcoin would take off, so I doubt that satoshi was hiding his identity so much.

kryptqnick

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I am not bothered that we don't know who Satoshi is, and I think I'd prefer it to stay this way. The op raises a good question about it being created by a bad person. To me, though, it wouldn't be a deal-breaker if it's one of the top billionaires, as I still use Amazon and Facebook, so I'd probably use Bitcoin as well. But if this person is someone who committed terrible crimes (mass murders, sexual violence, stuff like this), then I'd most likely not want to use something this person created. I'd also be unhappy if this person is against vaccinations, homophobic, conspiracy theory fan, and stuff like this, but I'm not sure if it would incline me to abandon Bitcoin altogether.

dlightag

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The founder of Bitcoin as his name apply Satoshi Nakamoto, His a visionary and He has seen far for a financial freedom a long time ago that the world will need digital money, which we called Bitcoin, it has come about and the countries start adopted it, and it create a lot of jobs in one way to another in the ecosystem, Having say that, if i have the privilege of knowing the person that create Bitcoin, I think it we add advantage to my life, because bitcoin come to stay and at this point the industry have not Rug pull, and which many other online payment platform has Rug-pull, after a short period. Therefore, the Bitcoin founder has Integrity Integrity and Integrity...

Renampun

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my belief in bitcoin certainly changed 180%....

if the identity of satoshi is known, is it appropriate for Bitcoin to still be considered a decentralized asset?

one of the reasons why Bitcoin is so powerful and the most valuable as it is today is because satoshi are pseudonyms. no one will ever know the identity of satoshi and people will not believe it even if someone claims to be satoshi.

fullhdpixel

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Quote from: killerfrost on May 18, 2022, 02:48:28 AM

So what do you use it for? And let's see if it's interrelated with the current use of BTC. I see there's so much we don't know about, and even a questionable story about who created it. Do you know what the truth is about one of the things that you probably forgot about the origin of the human race? And you're still there. Some of the things we're still forcing ourselves on, I can think of by our own choices. There are people who are happy with their lives right now, and there are people who are unhappy with them. The search for outside things unrelated to one's own problems is something that I find very amusing to happen in this life.

The reality is that, if you asked who created "the dollar", there wouldn't be many people who end up responding to you neither. They know that it is used by Americans, and the American government must have created it but they do not know that it was the Spanish that created it in reality, and not the Americans.

All in all, bitcoin and who created it doesn't matter, if they had some power sure, but since they don't, it makes no sense to know who created it or not. The question is not even saying they would still be around, it could be someone dead, hence we would only know who they are, but they are dead, so why would that matter?

killerfrost

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So what do you use it for? And let's see if it's interrelated with the current use of BTC. I see there's so much we don't know about, and even a questionable story about who created it. Do you know what the truth is about one of the things that you probably forgot about the origin of the human race? And you're still there. Some of the things we're still forcing ourselves on, I can think of by our own choices. There are people who are happy with their lives right now, and there are people who are unhappy with them. The search for outside things unrelated to one's own problems is something that I find very amusing to happen in this life.

Rockstarguy

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Quote from: GeorgeJohn on May 15, 2022, 03:45:32 PM

To be honest with you op, the founder of bitcoin do have anything to do with my investment, yes i may know him very well as a friend or brother, and it's initiative is world choice that helps to solve problem, definitely i will ensure that it's idea will never go in vain, i ensure invest to attract other people to follow my step.

When my eyes captured the thread, the first question on my mind was to ask what has the founder of bitcoin got to do with one investing bitcoin, as far as I'm getting what ì want from bitcoin if I should know the founder of bitcoin or not it doesn't make any difference or meaning. My business is to just buy some bitcoin and hodl .

uneng

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Quote from: Synchronice on May 15, 2022, 03:37:37 PM

What if it was created by one of the worst person ever? What if he wants to make us dependent on bitcoin as much as possible and one day he comes, sells all his coins and causes financial catastrophe.
What if it was created by persons like Mark Zuckerberg, Bill Gates, Jeff Bezos, etc. These are the people who don't respect their customers' privacy.

That would be really worrying for me as an investor and adopter. In that case, I would probably sell my coins and wait until another crypto took bitcoin's place, what should be inevitable on that case, since the market's confidence in bitcoin would instantly drop to very low levels. Actually, the issue isn't to know the person behind bitcoin, but to know it's someone who is used to be an obstacle on the way of independent and autonomous citizens towards freedom, opportunities and better life quality standards. Thankfully, I'm pretty sure it has less than 0,01% of being real, otherwise bitcoin wouldn't have been created in a concept format to help many people to go in the exact opposite way those well known personalities would like people did.

TelolettOm

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Quote from: Synchronice on May 15, 2022, 03:37:37 PM

What if it was created by one of the worst person ever? What if he wants to make us dependent on bitcoin as much as possible and one day he comes, sells all his coins and causes financial catastrophe.
What if it was created by persons like Mark Zuckerberg, Bill Gates, Jeff Bezos, etc. These are the people who don't respect their customers' privacy.

If Satoshi is the worst person, he won't let you join this forum for free and won't let you mine the Bitcoin. He will let people get the Bitcoin by purchasing it only after he made such giveaways the first time he launched it to public. He also must sell some of his Bitcoin after he keeps it for more than 10 years in the previous Bullrun, but he never did it. All of this ensures us that Satoshi didn't target for any profits from Bitcoin, he purely wants to make a way for people to have a freedom in managing their currency. People like Bill Gates, Zuckerberg, Elon Musk, or Jeff Bezos won't have this idea.

Vaculin

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Quote from: Synchronice on May 15, 2022, 03:37:37 PM

Honestly, I am very obsessed with this question. We don't know who is behind the bitcoin, at the moment Satoshi Nakamoto is just a made-up thing in our head. At the moment we think that he is a savior and helps us to gain financial freedom and protect our privacy but let's imagine some bad case scenarios for interesting discussion. At the moment, Satoshi has around 1 million bitcoin.

What if it was created by one of the worst person ever? What if he wants to make us dependent on bitcoin as much as possible and one day he comes, sells all his coins and causes financial catastrophe.
What if it was created by persons like Mark Zuckerberg, Bill Gates, Jeff Bezos, etc. These are the people who don't respect their customers' privacy.

What if there is one specific, concrete country behind the scenes? Bitcoin is a mixture of the cyber and financial worlds, this is the greatest power stack to own.

The inspiration for me to create this thread was this video.
P.S. I don't agree with Dan Pena, I would even say that if he knew who was behind the bitcoin, as he says, he couldn't sleep at night or could sleep forever.

If its Satoshi or not, i will always chose to stay with bitcoin. What is important is that bitcoin is giving us the best opportunities we have right now, be it an asset or currency, bitcoin has it all. And even if i know from the start that bitcoin is founded with a bad guy, that won't matter anyway. We should still be thankful by all means because bitcoin has been very useful for all of us who know its real worth.

Jody.Drummer

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Satoshi wallet must have been under surveillance until now and if it was really active again in making transactions then the media would definitely report it and become the biggest news this world has ever seen. But thinking about the repercussions, we definitely wouldn't be prepared for that.

Even in the full-length video, DAN PEN mentions Putin involvement in Bitcoin. Isn't this an exaggeration?
Regardless of the absolute truth, I can confirm that nothing is 100% correct, it's all just speculation and Satoshi won't break his promise.

Recall 2010 Satoshi said the next 20 years he believes there will be large transaction volume or no volume.

Quote from: satoshi on February 14, 2010, 10:52:23 AM

I'm sure that in 20 years there will either be very large transaction volume or no volume.

Cookdata

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It is possible that Satoshi is back in normal human form as a simple developer, who knows if he has been among those keep developers who have been making bitcoin improvement proposals on the bitcoin Github repository, however, I like it that he hasn't been physical with anyone since his last seen.
There is something you don't know about the government, the government has done more harm to those who are inventive, especially when it affects them and the people in their cycle, and this is why Satoshi never wants to be known by any group of people. It reminds me of how the United States has led the killing of many brilliant men who wanted to accomplish something helpful for society, they can even go so far as to use citizens of that country to assassinate those they despise.

I don't care about his Satoshi bitcoin fortune, he has done his part by providing us with an open-source peer network that integrity people have continued to protect, let's maintain it that way and continue to develop our wealth this way.

coolcoinz

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Quote from: stompix on May 16, 2022, 08:31:05 AM

Quote from: Synchronice on May 15, 2022, 03:37:37 PM

What if it was created by persons like Mark Zuckerberg, Bill Gates, Jeff Bezos, etc. These are the people who don't respect their customers' privacy.

Raise it up a bit and let's make it more interesting!

What if Craig Wright comes with all the keys and signatures proving he is Satoshi? Grin

I know is close to impossible but a lot of people will start doing a lot of licking where they previously spit.

Anyhow, it doesn't matter, tor was created by the NRL, SHA-2 was designed by the NSA, it can't get worse than this.

I'd probably dump some of my coins in fear of bitcoin being smeared in the media for being associated with Craig and people like him. It wouldn't be to protest against CSW, but to protect my money from a possible panic coming from, for example, an attack on Satoshi. Imagine seeing a headline in the media "Bitcoin founder kidnapped". People would freak out thinking that they're going extort his coins from him and crash the market. Even if I we were to stay calm, others would not.

Finding out Satoshi's identity wouldn't have to be a bad thing, but we're talking about a huge negative combo of Satoshi being discovered, alive and being someone who is, to say the least, not respected by the community.

Captain Corporate

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I would still use it, the point is not "knowing" him or not, it's about him not being able to have any connection to bitcoin anymore. So if we knew who he was, but he has absolutely no power over it, then why would I care? Look at Vitalik and ETH, sure we know who he is, and sure he is trying to do something, but he has absolutely no power over it if we do not want him to have any power. This is what we should be focusing on. If he was someone who still had some control, like some projects these days have teams, and if bitcoin had a team like that, then I would never considered investing into it ever.

TimeTeller

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Quote from: Kasabus on May 17, 2022, 04:19:21 PM

Quote from: BIT-BENDER on May 15, 2022, 03:55:16 PM

Regardless of who founded BItcoin, although this might be a group I believe that is we would still use it, let take for instant, right now we are made to believe that the founder and originator of bitcoin is an unknown man names which are satoshi nakamoto, although many of us don’t even know who this satoshi nakamoto is we have already believed in what he has created and it has really proven to be more than amazing, I believe if this originator which we were meant to believe wasn’t true then we would still be using Bitcoin

I guess it does not matter of who founded bitcoin, what matters the most is the real use of bitcoin in our daily lives. It can be a great asset and a good currency in the future, so what more can i ask for? And besides, if Satoshi or let's say a group founded bitcoin, if they really want to sell their bitcoins and causes financial catastrophe, then they had made it already when bitcoin was still at its very high peak.

I guess by now, most of us don't care who was the creator of bitcoin.
Because what has been achieved in this market is already more than enough to be grateful about this creation.
If Satoshi preferred to be anonymous, let's respect his privacy.
And if he does really want to ruin his creation, he should have done this a long time ago.

Kasabus

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Quote from: BIT-BENDER on May 15, 2022, 03:55:16 PM

Regardless of who founded BItcoin, although this might be a group I believe that is we would still use it, let take for instant, right now we are made to believe that the founder and originator of bitcoin is an unknown man names which are satoshi nakamoto, although many of us don’t even know who this satoshi nakamoto is we have already believed in what he has created and it has really proven to be more than amazing, I believe if this originator which we were meant to believe wasn’t true then we would still be using Bitcoin

I guess it does not matter of who founded bitcoin, what matters the most is the real use of bitcoin in our daily lives. It can be a great asset and a good currency in the future, so what more can i ask for? And besides, if Satoshi or let's say a group founded bitcoin, if they really want to sell their bitcoins and causes financial catastrophe, then they had made it already when bitcoin was still at its very high peak.

Topic: If you knew the founder of Bitcoin, would you still use it? (Read 519 times)