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.

Argoo

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Quote from: hatshepsut93 on May 15, 2022, 06:08:12 PM

Satoshi created Bitcoin, but he's not the only one who was developing it. Since the release and Satoshi's disappearance, lots and lots of other people were working and are still working on this project. And Bitcoin is an open source project, no one found any malicious backdoors that could be used to suddenly take full control over the protocol or something. So, from a technical point of view, it doesn't matter who Satoshi is.

The worst thing that can happen is a severe reputation damage that wound hinder the prospects of adoption and price growth.

It seems to me that no matter who Satoshi Nakamoto is, this cannot affect our attitude towards bitcoin. We value bitcoin not because of the personality of its creator, but because of the benefits that it gives ordinary people when using it. Even if Satoshi Nakamoto turns out to be a bad person, which I doubt, it doesn't change anything. Moreover, what we know about him does not give us any grounds for making such a statement.
Given that it was he who created bitcoin, I don’t think that by some of his actions he can intentionally harm bitcoin, including by simultaneously selling all his bitcoins. In addition, such an act only for a while will lead to its price drop.

DaNNy001

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Quote from: nullama on May 15, 2022, 09:44:56 PM

The beauty of Bitcoin is that you don't have to trust the people behind it. It works independent of them.

I trust math/cryptography because it works. Bitcoin is based on it, so therefore there's no need to trust whoever invented it.

It's all open source and verifiable, so there's no need to trust the founder.

It's usually the people that know very little of how Bitcoin works that start talking about those trust issues.

Well am a newbie but this particular topic has been troubling me too... it's just that Bitcoin as whole is just like a fantasy too good to be continuous without any financial catastrophe.. well it's Said to have been created by Satoshi Nakamoto(human) with which we all know can still do alterations to this his creation.. because for me a creator always has an insight to his creation no matter how advance the creation may be..so I can't blame anybody who is curious about this particular question

davis196

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Satoshi Nakamoto doesn't have control over the Bitcoin Core blockchain,so your question is irrelevant.He isn't a CEO of a corporation.
The personality of Satoshi Nakamoto doesn't matter.What truly matters is the Bitcoin protocol and the Bitcoin community of developers,miners and regular users.Even if Satoshi sells all his BTC(which is highly unlikely to happen),the Bitcoin price would just drop for a while and recover afterwards.Dan Pena is a ridiculous online "guru" scammer.I couldn't care less about his opinions.I'm pretty sure that he doesn't understand how Bitcoin/blockchain technology works and he thinks that Bitcoin is some kind of weird "high tech" corporation.

Desmong

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Quote from: Haunebu on May 15, 2022, 11:22:10 PM

Your theory is far-fetched and I don't think that Satoshi is someone extremely bad. Instead, I believe that he/she is a person who had good intentions behind creating BTC.

None of us can prove our theories and this will most likely never change in my opinion. This is why I prefer believing in BTC itself which is an extraordinary creation irrespective of whether its creator is good/bad.

Very few investors actually care more about the creator than the creation itself. If this weren't the case, BTC would never have soared to such a high price point over time.

If the creator of Bitcoin is eventually known, it might affect the market because many people will not have to believe in bitcoin again. Satoshi created bitcoin and tend to disappear that no one will see good reason why they should reject it because of so much value that is placed on it. He had really changed the world and make it a better place. Bitcoin market is a great one that is much volatile to keep things balanced.

AakZaki

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didn't want to know and kept on using it. Whoever the founder of bitcoin is of course is still a mystery. If the founder of bitcoin was a bad person, of course he would have a negative impact on everyone, but in fact until now with bitcoin, everything is safe. Even bitcoin is able to boost the level of a good and freer economy.
What the OP is talking about is just an opinion that will not happen, Bitcoin will be destroyed if indeed the founder of bitcoin has evil and harmful intentions and goals.
But we will see a good future with bitcoin and the technology in it.

KaliLinux

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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.

How many crypto projects do we know the owners and are still good investments and have been used today, BNB, ETH, and many more. Knowing the creator does not take away from what the project stands for IMO, even if we knew who Satoshi was from back then and Bitcoin was adopted like the way it is now I don't think it would have made any difference. What happens if Satoshi had other Bitcoin wallets down the years that people can't associate with him/her/them Huh

as the case may be and is been traded to date that we don't know?

Mpamaegbu

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I don't know why people continue to think that Satoshi will be in danger if he makes himself known. Is it because there's an alleged wallet housing 1million Bitcoin belonging to him? I mean, is there anything else? That's the only reason I would be thinking he could be in danger, and that's from greedy and envious people who may want to steal from him. Nothing else. Come to even think of it, Bitcoin isn't the only crypto which has a huge price and whose founder isn't known.

For me, it's immaterial to base investing or not investing in a crypto on whether the owner is known or not. How many cryptos do we even know their owners? Yet we trade and invest in them.

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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.

m2017

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I also have questions about this ~1 million bitcoin.
As we all know, bitcoin was conceived in the amount of 21 million, of which about 1 million were obtained by Satoshi and are stored in his wallet. I'm curious to know why he didn't give away those bitcoins when it were so cheap? Because these ~1 million bitcoin fall out of the general circulation and there will be only about 20 million in the world (in fact, even less, due to losses. ). And if Nakamoto does not wish to use them, if at all possible.It could be distributed, for example, by arranging various contests or like airdrops.

While writing this, I had an idea. Perhaps Satoshi initially and specifically deprived himself of access to this wallet with ~1 million bitcoin. Just didn't save the seed-phrase so that he's would never have access to those bitcoins.

LogitechMouse

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First of all, with many people being linked, saying that they are or telling that this person is Satoshi Nakamoto I don't think that there is anybody who will believe in somebody who claims that they are the creator.
Second, I invested because I want to get involved in the new technology and also profits as well and not because of Satoshi Nakamoto being anonymous.

All of OP's questions will just be some of the questions that will never be answered because Satoshi Nakamoto will remain anonymous for the rest of our lives (unless something unexpected happen in the future Cheesy

). Overall whoever this creator is, I will still be using Bitcoin and I'm not expecting to know who is the creator of Bitcoin at all.

Leviathan.007

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There can be many possible theories regarding what's going to happen after when recognizing the real identity of the founder of the bitcoin If the founder is an organization or a group of people who are into computer science and they believe in the borderless transaction and economic freedom then we should wait to see the reaction of people regarding this group member and if it's a just a person there will be huge pressure from governments and organization on him and surly this will decrease the interest of people in bitcoin. So in any condition, if people recognize the founder of Bitcoin there will be less demand for bitcoin and I'll try to be much more careful about my bitcoin investments.

Flexystar

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Nah, this does not matter at all.

Let us compare this one with the real world stocks and shares for a moment. There are so many companies out there in which we invest, we buy our shares in the want of profits. We analyse all the data such as who founded it, what's the companies vision and everything. Did you put a step back while investing in Tesla or SpaceX or The Boring company after knowing that Elon is going all shitty on the twitter and making everyone loose their money?

He already took evil place on many peoples mind but this changed nothing. People know that there are no other companies like that with big expression and quality visions in the future.

Think about bitcoin in similar fashion. Lets assume bitcoin was formed by most devil person on the earth because they wanted to take the government banking system, if yes then everyone liked the idea of ownership of bank! It doesn't matter now, I will still continue to invest and be my own bank.

avikz

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It actually depends on the name of the actual owner. If we come know with irrefutable proof that NIA had created bitcoin, I wouldn't use it. But if the creator is really a Japanese guy called Satoshi Nakamoto, why should I stop using it? We all know the creator of ETH, did we stop uaing ETH? So it all depends on the actual identity of the creator. Otherwise it really doesn't matter at this stage where bitcoin has see a great amount of adoption already.

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Your theory is far-fetched and I don't think that Satoshi is someone extremely bad. Instead, I believe that he/she is a person who had good intentions behind creating BTC.

None of us can prove our theories and this will most likely never change in my opinion. This is why I prefer believing in BTC itself which is an extraordinary creation irrespective of whether its creator is good/bad.

Very few investors actually care more about the creator than the creation itself. If this weren't the case, BTC would never have soared to such a high price point over time.

South Park

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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.

One of the most important strengths of bitcoin is that the identity of Satoshi does not matter all, historically it would be important to know his identity as we would like to know who is this person that created something as exceptional as bitcoin, but for bitcoin itself nothing changes, the code of bitcoin is open source so the identity of satoshi is irrelevant and if anything it could be a weakness, as governments could try to use character assassination techniques to try to discredit bitcoin, by hiding his identity Satoshi avoided those attacks against bitcoin, so it is better that we do not know who he is.

pooya87

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

At the moment we think that he is a savior and helps us to gain financial freedom and protect our privacy

Not at all, we know that his creation is doing all that not him.

Quote

At the moment, Satoshi has around 1 million bitcoin.

Wrong. That amount is your ~~imagination~~ guess. We have no way of knowing how much bitcoin anybody has, least of all someone who we don't even know their real identity!
In other words you don't even know who Satoshi is, how can you claim to know how much bitcoin he/she owns?!

Quote

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.

Your problem is that you only know bitcoin as something you invest in and has some price whereas bitcoin is not that at all. Bitcoin is a censorship resistant currency that has been operating globally without any restrictions. What its volatile market does in short term does not affect its nature.

Fundamentals Of

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It will definitely become a contentious issue but it would matter significantly more as to who or what that Satoshi is. If it turns out that Satoshi Nakamoto is actually Elon Musk, Mark Zuckerberg, Jeff Bezos, the FBI, I might think twice of keeping my Bitcoin for a long time. But if it turns out that Satoshi Nakamoto is actually Dorian Nakamoto, Hal Finney, or the cypherpunks, I guess I wouldn’t be worrying much about my Bitcoin.

But nothing of all of these talks probably matter at all as Satoshi will 99.99% not come out. I mean the real one. As to claimers, there will always be many.

Jawhead999

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Seems you're failed to understand how Bitcoin work? I suggest you to read and learn the whole Bitcoin whitepaper first [1] It doesn't make sense you're worried Bitcoin's creator will backdoor your privacy, if you've submitted KYC to centralized exchanges, then the CEX is the one who backdoor you.

I don't know what happen if Satoshi comeback to this forum and announce he's still alive + signing message to prove the ownership and sold his coins. Perhaps it will cause a panic since many people though he can control Bitcoin, but it should be affect for short-mid term, not long term.

[1] https://bitcoin.org/bitcoin.pdf

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Quote from: hatshepsut93 on May 15, 2022, 06:08:12 PM

Satoshi created Bitcoin, but he's not the only one who was developing it. Since the release and Satoshi's disappearance, lots and lots of other people were working and are still working on this project. And Bitcoin is an open source project, no one found any malicious backdoors that could be used to suddenly take full control over the protocol or something. So, from a technical point of view, it doesn't matter who Satoshi is.

The worst thing that can happen is a severe reputation damage that wound hinder the prospects of adoption and price growth.

This is the right story with no bias whatsoever, as we can see everyone found out that BTC is the right thing to have if you wanted to have full freedom of your money where no one can ever put their hands in it and also you have the full authority on where you will gonna hide it and they won't have any idea that you're holding a huge amount of cryptocurrencies because of this financial revolution. Banks are not good with it since the people will no longer need them and they will lose income due to the fact that there will no longer be people to entrust their money to the banks.

nullama

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The beauty of Bitcoin is that you don't have to trust the people behind it. It works independent of them.

I trust math/cryptography because it works. Bitcoin is based on it, so therefore there's no need to trust whoever invented it.

It's all open source and verifiable, so there's no need to trust the founder.

It's usually the people that know very little of how Bitcoin works that start talking about those trust issues.

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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.

Regardless of your opinion about these individuals that you have mentioned OP, I'm pretty sure that it has not completely influenced your opinion on their services and that you still use always or sometimes facebook, Instagram, windows and amazon. IMO, I don't think there is too much relevance to the personality behind an innovation that is ground breaking. If an innovation from an individual proves important, and all the risk involved has been considered, there is no need why his innovation cannot be carried on regardless of his/her personal lifestyle or consideration.

If the founder of bitcoin made himself known, he will constantly be queried and asked questions as regards the fluctuating value of btc, people will hate him when the price slumps and idolise him when it goes up. He may have been invited if not arrested or even assassinated by the government for wanting to create something that eliminates government interference, they will definitely not like him.

romero121

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Quote from: hatshepsut93 on May 15, 2022, 06:08:12 PM

Satoshi created Bitcoin, but he's not the only one who was developing it. Since the release and Satoshi's disappearance, lots and lots of other people were working and are still working on this project. And Bitcoin is an open source project, no one found any malicious backdoors that could be used to suddenly take full control over the protocol or something. So, from a technical point of view, it doesn't matter who Satoshi is.

The worst thing that can happen is a severe reputation damage that wound hinder the prospects of adoption and price growth.

Agreed, and the outcome is the full fledged effort of large number of people. We don't know the true members, but the innovation is a needed one for the ongoing development in the World. We've got more and more innovation in other industries, but in the financial sector there isn't big move. The blockchain technology leading path to the development of bitcoin have filled the void.

hatshepsut93

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Satoshi created Bitcoin, but he's not the only one who was developing it. Since the release and Satoshi's disappearance, lots and lots of other people were working and are still working on this project. And Bitcoin is an open source project, no one found any malicious backdoors that could be used to suddenly take full control over the protocol or something. So, from a technical point of view, it doesn't matter who Satoshi is.

The worst thing that can happen is a severe reputation damage that wound hinder the prospects of adoption and price growth.

CaVO32

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Quote from: Yogee on May 15, 2022, 05:31:15 PM

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

.... 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.

That's a huge stash that will most likely crash the market but it will be absorbed eventually. I think investors are already at a point where we are not dependent on the creaor but on the creation.

Quote

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.

Hehe. You should probably stop whatever you are smoking. Why create Bitcoin if he doesn't respect privacy in the first place?

I ignored other questions since I find them rubbish.

The questions are not worth debating because of what has been achieved by bitcoin in this market. If Satoshi has slight inclination of doing what the OP was saying here, Satoshi may have already been showed us a little glimpse of his identity but up until now, it is still a mystery. So do you think, he will sell all his coins and ruin his creation for his own selfish desire? I don't think so. So maybe, we need to leave this topic and better deal on much worthwhile discussions.

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

.... 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.

That's a huge stash that will most likely crash the market but it will be absorbed eventually. I think investors are already at a point where we are not dependent on the creaor but on the creation.

Quote

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.

Hehe. You should probably stop whatever you are smoking. Why create Bitcoin if he doesn't respect privacy in the first place?

I ignored other questions since I find them rubbish.

sheenshane

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Quote from: Marvell1 on May 15, 2022, 05:02:59 PM

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.

Bitcoin is decentralized and designed with the top priority of providing user privacy, so you don't need to worry too much because these people will definitely not be the creators of bitcoin. Satoshi has chosen to remain anonymous for over 10 years now and I see no reason for him to reappear.
Whoever he/she is, he will definitely never come back, Satoshi's return I don't know how it will affect bitcoin but if he goes out in public, the first thing is that he will be in danger. So whoever he is they will continue to hide their identity.

I tend to agree with the line that I bolded above.
If real satoshi is alive, he/they will never think of revealing his identity, there are too many reasons why he must remain anonymous, his life becomes in danger, and might the government chase him for the currency that he created, as we know the government always wants regulations.

It's us the users, the ones who created Bitcoin has nothing can do about the Bitcoin price and its adoption. I think it's a small portion of Bitcoin that satoshi has than the actual holders.

Maybe let's respect the decision of satoshi to remain hidden and let's accept that he/they will never come back.

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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.

Bitcoin is decentralized and designed with the top priority of providing user privacy, so you don't need to worry too much because these people will definitely not be the creators of bitcoin. Satoshi has chosen to remain anonymous for over 10 years now and I see no reason for him to reappear.
Whoever he/she is, he will definitely never come back, Satoshi's return I don't know how it will affect bitcoin but if he goes out in public, the first thing is that he will be in danger. So whoever he is they will continue to hide their identity.

TheNineClub

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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.

Good moral dilemma. I guess that most people would be inclined to rethink their support for the project if the person who's behind it is not inline with their moral views, no mater if the project is good or not. But sometimes we tend to omit to ourselvs things we do not agree on if it makes us justfy our choice. I'll stand here and say it would make me rethink it, but who knows...

milewilda

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Quote from: jackg on May 15, 2022, 03:49:06 PM

If bitcoin's founder comes forward, they'd probably have to have sold their crypto or have found a way to actually hide it well. If satoshi came forward and still had all their keys - they'll probably not be able to keep them that safe for long.

5% of bitcoin ownership probably isn't enough to do too much damage over a lint term imo but it might make people too worried and would encourage them to sell their funds anyway.

If they did try to dump their whole funds, 5% might be enough to either get a greedy country that wants the funds arrest them or get a country that wants them for market manipulation to arrest them (there'd also be no reason not to dca out of their position if they wanted to sell as they'll get more for it and actually keep bitcoin alive and stable).

Actually situational because the entire community or supporter of Bitcoin itself would really be making out such decision if ever its creator had surfaced out then its neither sell or buy signal but of course it would be depending on what they are seeing if Satoshi whether he do tends to make out some negative vibe or positivity and this is where community would really make out reaction
whether it would be bullish or bearish. We know that Satoshi does hold huge amount of coins but it wont totally be affecting if we do talk about it literally even he intents to sell it all
but what affect most is on the effect on emotional aspect which is really something that strong once the community do share up on the same reaction or doubts.

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In today's cancel culture, I have no doubt that if satoshi's identity is ever revealed, there will be some form of rejection and boycott, regardless of who she is.

I personally don't think it makes a bit of difference. We don't care who invented the wheel and there are plenty of things invented by despicable people that we use today with hardly any concern.

BTW, the most important info I got out of that video is that Dan Peña is a liar and a misogynist.

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Bitcoin's software isn't the only thing that draws people to the digital currency. If creator of that software, the mysterious Satoshi Nakamoto, was to come out from the shadows, it would be unlikely that people would stop to use his invention. What makes Bitcoin popular is a whole world of applications that use the technology , such as payment and other applications that help in peer-to-peer communication, and in the e-commerce.

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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

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Quote from: jackg on May 15, 2022, 03:49:06 PM

5% of bitcoin ownership probably isn't enough to do too much damage over a lint term imo but it might make people too worried and would encourage them to sell their funds anyway.

It probably isn't enough from random whales but you know, the name Satoshi Nakamoto is a gamechanger in this scenario.

jackg

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If bitcoin's founder comes forward, they'd probably have to have sold their crypto or have found a way to actually hide it well. If satoshi came forward and still had all their keys - they'll probably not be able to keep them that safe for long.

5% of bitcoin ownership probably isn't enough to do too much damage over a lint term imo but it might make people too worried and would encourage them to sell their funds anyway.

If they did try to dump their whole funds, 5% might be enough to either get a greedy country that wants the funds arrest them or get a country that wants them for market manipulation to arrest them (there'd also be no reason not to dca out of their position if they wanted to sell as they'll get more for it and actually keep bitcoin alive and stable).

GeorgeJohn

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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.

But only process or place i can't embrace it, is when i found out that the purpose of creating bitcoin is not for universal purpose, or it's created or developed to handcap or ridicules some people hard earn money..i will step outside and create a means to eradicate it objectives of extortion of fund's from people.

Synchronice

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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.

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