Is bitcoin one of the most shady coin?

tsaroz

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Quote from: Tylev on April 25, 2019, 11:04:34 PM

Bitcoin from the very beginning was created completely transparent, open source. No matter who Satoshi Nakamoto is, we cannot lay claim to him for the fact that in the early period he had namynil many bitcoins. This is the privilege of the discoverers. If he did, he acted wisely. He deserved to spend the rest of his life at his pleasure somewhere on his own island with a heavenly climate.

Or is it? There are still a great deal of things we don't know about the initial phase of bitcoin. No details about the genesis block and any detail of premining.
Bitcoin was nearly unkown for some years and when it started coming into spolight, satoshi just disappeared.

acheampong64

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Factually, what you're saying can be disproved because in the pioneer times, there were few miners and you didn't need any powerful mining farm to accumulate BTC. Satoshi on the other hand might have mined many coins because no one was mining/using Bitcoin and he needed to make his technology work also. So all those who were lucky to be part of the early day miners really made a lot of Bitcoins. Also at that time, there were no exchanges for you to buy Bitcoins so it wasn't well known to the outside world.

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Quote from: Adriano2010 on April 26, 2019, 07:04:56 PM

No, i don't think so, even if Satoshi has so much coins there are over 16 million coins which are not owned by a single person and are owned by a lot of people on planet, and no is not like shitcoins with premined coins over 20 million and total supply 30 million.

The supply rate of the cryptocurrency doesn't mean anything alone in my opinion. The price and market cap of the coin have an impact on the future development of the project directly.

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Of course. Bitcoin is a leader. And nothing can be done about it. He will always be in the top. Until the world becomes. Yes, maybe he will support not legal affairs, but it will be until he is legalized.

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Quote from: Lawrenzoo on April 26, 2019, 06:30:25 AM

Quote from: jcarlo on April 26, 2019, 02:15:36 AM

Quote from: mcnocon2 on April 24, 2019, 03:08:13 AM

No bitcoin is not shady and every transactions and mining rewards have been recorded on the blockchain, everything is decentralized. Its just that the early miners always get more because they take risk on mining that. That was their reward in doing so, they believe in the technology itself.

Indeed, satoshi mined first time because he is bitcoin investor but its not pre-mined coin. As far i know, satoshi still not touch the coin and i think he will not touch it.

WHy would satoshi mine coin that he would not touch, so all the coins that has been mined bu him, who as it distributed to and why would he also create a system without having interest in it? Of course he will be benefitting from all this and i am sure he has mined coins that he will be using to control and balance the bitcoin market.

I strongly believe that satoshi is a man of honor and I don’t dispute the fact that he will benefit as the God father of cryptocurrency but it would not be in a shady way, and I really doubt he will have so much mined coins that will be enough to manipulate the market.

Like one of the forum mate said, he is just being humble and after the success of the program than him showing his face and taking glory, and at the same time hiding his identity away from government who might arrest him for creating a program that is beyond their control. There has been nothing so terrible happening around the world of Bitcoin that makes it look shady.

Adriano2010

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No, i don't think so, even if Satoshi has so much coins there are over 16 million coins which are not owned by a single person and are owned by a lot of people on planet, and no is not like shitcoins with premined coins over 20 million and total supply 30 million.

shoreno

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Shady coin ? Its partially anonymous but this does not mean that it is shady . being anonymous is one of the unique feature of bitcoin and they intended it by its creator satoshi nakamoto to have a freedom . however in the first few days of bitcoin it was being known as a medium for darknet/deepweb , this was the reason why people think bitcoin is shady but today the reputation of bitcoin is now getting positive because lots of people are now mainly using thier bitcoin as an investment asset .

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Quote from: EdvinZ on April 26, 2019, 11:07:38 AM

Bitcoin is a decentralized system and all transactions in it are available for viewing. If Satoshi Nakamoto wanted to get rich through his technology, then he already succeeded. I do not think that investors need to be afraid of some big dump of the price.

That's is the reason why Satoshi Nakamoto created bitcoin with open source code because probably they/he knows that after they created they must remain anonymous so that to protect their name and lives. Now, the decentralized coin is bitcoin. About the shady one, I think bitcoin is not existed until now if they think it is the shadiest coin on cryptocurrency. However, Bitcoin is to become a world wide digital currency and must be used like a fiat online.

Eildosa

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In fact, all bitcoin transactions are in the public domain and we can see them. Unknown are only the owners of wallets. So I think bitcoin is not a shadow coin.

sabine80

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i do not think that bitcoin is most shady coin. it is not satoshis fault that no one was interested in bitcoin in the first few days. what should he have done if there was no other miner? stop mining and consider the project "bitcoin" as failed? if he had done that, we would not all be writing here today. Grin

EdvinZ

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Bitcoin is a decentralized system and all transactions in it are available for viewing. If Satoshi Nakamoto wanted to get rich through his technology, then he already succeeded. I do not think that investors need to be afraid of some big dump of the price.

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Quote from: Tipstar on April 23, 2019, 12:34:10 PM

It's been proved an early miner of bitcoin mined around 1 million bitcoins and there are many theories about the dominant miner being satoshi itself.
Sergio Demian Lerner had made an extensive study about early stages of bitcoin mining and many other independent research were close to his one.
Is bitcoin a large premined coin? Is hidden identity of satoshi nakamoto not just a humble act?

https://news.bitcoin.com/strong-evidence-suggests-a-single-entity-mined-more-than-1-million-bitcoin/

https://blog.bitmex.com/satoshis-1-million-bitcoin/

in the previous 10 years there is no other currencies had the development like Bitcoin that is the reason for we are splitting the Bitcoin into the cryptocurrency to a top position and it will be performing like that also when the market condition is not good also people are ready to invest in this that is a success with the Bitcoin investment.

Lawrenzoo

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Quote from: jcarlo on April 26, 2019, 02:15:36 AM

Quote from: mcnocon2 on April 24, 2019, 03:08:13 AM

No bitcoin is not shady and every transactions and mining rewards have been recorded on the blockchain, everything is decentralized. Its just that the early miners always get more because they take risk on mining that. That was their reward in doing so, they believe in the technology itself.

Indeed, satoshi mined first time because he is bitcoin investor but its not pre-mined coin. As far i know, satoshi still not touch the coin and i think he will not touch it.

WHy would satoshi mine coin that he would not touch, so all the coins that has been mined bu him, who as it distributed to and why would he also create a system without having interest in it? Of course he will be benefitting from all this and i am sure he has mined coins that he will be using to control and balance the bitcoin market.

leetcoiner

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It seems to me that bitcoin is so transparent that it is nowhere more transparent. Everything can be traced and noticed. It seems to me that this is just some kind of black PR.

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Quote from: Tipstar on April 23, 2019, 12:34:10 PM

It's been proved an early miner of bitcoin mined around 1 million bitcoins and there are many theories about the dominant miner being satoshi itself.
Sergio Demian Lerner had made an extensive study about early stages of bitcoin mining and many other independent research were close to his one.
Is bitcoin a large premined coin? Is hidden identity of satoshi nakamoto not just a humble act?

https://news.bitcoin.com/strong-evidence-suggests-a-single-entity-mined-more-than-1-million-bitcoin/

https://blog.bitmex.com/satoshis-1-million-bitcoin/

I think satoshi hide his identity for his own security. His creation disrupting central banks and we are already know how powerful central banks are. Satoshi create bitcoin as decentralized system because its to avoid from government regulation and i am believe he hide his identity to secure himself or his family

jcarlo

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Quote from: mcnocon2 on April 24, 2019, 03:08:13 AM

No bitcoin is not shady and every transactions and mining rewards have been recorded on the blockchain, everything is decentralized. Its just that the early miners always get more because they take risk on mining that. That was their reward in doing so, they believe in the technology itself.

Indeed, satoshi mined first time because he is bitcoin investor but its not pre-mined coin. As far i know, satoshi still not touch the coin and i think he will not touch it.

alexsandria

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Quote from: mcnocon2 on April 24, 2019, 03:08:13 AM

No bitcoin is not shady and every transactions and mining rewards have been recorded on the blockchain, everything is decentralized. Its just that the early miners always get more because they take risk on mining that. That was their reward in doing so, they believe in the technology itself.

I think the only reason why bitcoin can be shady is that, when transactions and blocks becomes constrained, there is a possibility that they transaction fee can increase way too much. I don't like that in terms of transaction basically, I am having a small amount BTC transacting often and because of that, they are giving me a so much transaction fee saying the blockchain is having some constraints.

g4r1n1m

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i guess the time will tell
they deserve it anyway Cool

Tylev

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Bitcoin from the very beginning was created completely transparent, open source. No matter who Satoshi Nakamoto is, we cannot lay claim to him for the fact that in the early period he had namynil many bitcoins. This is the privilege of the discoverers. If he did, he acted wisely. He deserved to spend the rest of his life at his pleasure somewhere on his own island with a heavenly climate.

steveabrahams

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Nah i don't think so. If bitcoin is the most shady coin then why the price of bitcoin is really high and the most expensive right now? People still trusting bitcoin and no one believe bitcoin is a shady. In my opinion bitcoin is not shady there are many coins out there that more shaddy.

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