Satoshi's faceless identity is the greatest Bitcoin success strategy

Abiky

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Quote from: Odusko on October 08, 2022, 05:33:30 AM

The identity issue is a personal decision and since cryptocurrency is all about privacy and security I don't think Bitcoin developer Satoshi's identity should not be made public because if satoshi's identity becomes public it will lead to Bitcoin becoming more centralized as there will be some form of control over the network, but as it is right now, Bitcoin is highly decentralized and this is as a result of it developer being unknown and out of the scene for a long time now. Even some altcoins whose creators are known are becoming more centralized and controlled by both the creator and the regulators.
So I think Bitcoin is ok the way it is and satoshi identity is not needed for Bitcoin safety or adoption.

It's not in Bitcoin's best interests for Satoshi's identity to be revealed. Especially now when governments are taking harder measures against crypto/Blockchain tech. Ethereum, Cardano, and all of those other cryptocurrencies whose creators are known by the public would be nothing but doomed. They will be forced to "satisfy" the regulators or face serious consequences in the long run. With Bitcoin, this is not a problem because most developers' identities are unknown. This also applies to the creator/founder of the project (Satoshi). By not having someone whose identity is widely known to the public, governments will be forced to look elsewhere. I'm glad Bitcoin is the way it is for the good of decentralization and censorship-resistance. Just my opinion

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Quote from: Abiky on October 04, 2022, 08:30:02 PM

I don't get why most projects these days have their team members' identities public. It gives governments the chance to prosecute the individuals behind crypto projects at will. There's a reason why Satoshi never disclosed his identity in the first place. If only Vitalik copied Satoshi's footsteps, the Ethereum project wouldn't had been a mess today. The sanctions against the Tornado.Cash mixer and the PoS upgrade on the ETH blockchain have greatly undermined people's privacy and freedom.

I believe crypto/Blockchain tech needs to remain as decentralized and censorship-resistant as possible to help render governments' efforts worthless. It seems to me that only Bitcoin will remain decentralized because of its unknown creator. The rest will simply go all the way downhill in an instant. Kudos again to Satoshi for doing the right thing from the start. Just my thoughts Grin

There could only be two options when creating a new project, and one of them is the main reason for it. If it happens like you said, if it is like satoshi, then you could create a project and have absolutely no connection left to it like satoshi did, if you can manage to build something new and leave it and never look like project creators are there, and give the responsibility to the people, it must be a good project to keep growing by those people.

But unfortunately, not many projects prefer that, they create the project and the project creators are there to keep improving it, which means KYC would allow them to look more legit in the eyes of the investors.

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The identity issue is a personal decision and since cryptocurrency is all about privacy and security I don't think Bitcoin developer Satoshi's identity should not be made public because if satoshi's identity becomes public it will lead to Bitcoin becoming more centralized as there will be some form of control over the network, but as it is right now, Bitcoin is highly decentralized and this is as a result of it developer being unknown and out of the scene for a long time now. Even some altcoins whose creators are known are becoming more centralized and controlled by both the creator and the regulators.
So I think Bitcoin is ok the way it is and satoshi identity is not needed for Bitcoin safety or adoption.

Abiky

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I completely agree with you on this.. I belive it gave people a sense that Bitcoin is truly decentralised otherwise people would be pointing out Satoshi as the owner and would have blamed him for each falll. While making him change the Bitcoin algorithm or increase supply to meet public demand or authorities would have scuttled the project by personally targetting him.

I don't get why most projects these days have their team members' identities public. It gives governments the chance to prosecute the individuals behind crypto projects at will. There's a reason why Satoshi never disclosed his identity in the first place. If only Vitalik copied Satoshi's footsteps, the Ethereum project wouldn't had been a mess today. The sanctions against the Tornado.Cash mixer and the PoS upgrade on the ETH blockchain have greatly undermined people's privacy and freedom.

I believe crypto/Blockchain tech needs to remain as decentralized and censorship-resistant as possible to help render governments' efforts worthless. It seems to me that only Bitcoin will remain decentralized because of its unknown creator. The rest will simply go all the way downhill in an instant. Kudos again to Satoshi for doing the right thing from the start. Just my thoughts Grin

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Quote from: Piesel on October 04, 2022, 02:00:51 AM

Quote from: Doan9269 on September 30, 2022, 06:27:06 AM

Quote from: Techkoy407 on September 17, 2022, 07:29:23 PM

even though Satoshi Nakamoto has always told him his identity, I think bitcoin will still be victorious and be number one as it is now because bitcoin is the first digital money in the world, don't think if satoshi shows up and reveals his identity will make bitcoin unstable or down it's a big mistake in my opinion, even if Satoshi appears it will be phenomenal and attracts all especially for bitcoin progress.

To even make it more simple, if Satoshi should show up his identity that does not change any fact about bitcoin here, if we the users on the bitcoin forum understand the need for privacy and have it secured and the forum itself been built under serving you with privacy without requiring for any verification or kyc during the point of registration, I see no reason why Satoshi should reveal his privacyz for what? that we should all believe what we already have no doubt about or to help bitcoin global adoption, i still can't figure a genuine reason why his privacy should be revealed and don't think it will be ever done at later future.

Satoshi identity does not have any impact on Bitcoin but his large Bitcoin holding does have big impact on Bitcoin, despite the fact that the original concept of Bitcoin is generalization and privacy consciousness this is why bitcoins are p2p oriented for privacy sake.

What I believe is Satoshi already had a well-planned road map of this and that is why he become anonymous immediately after the Bitcoins network became live and transactions were confirmed marking the first time stamp.

I think the opposite, the identity of satoshi will have a huge impact on bitcoin. Assuming satoshi's identity is revealed and the government comes to him, he will surely be questioned about everything about bitcoin. The government will make him work for them and worse, they will make him change the algorithm and cause bitcoin to increase the supply or will help them control bitcoin in some way. I think he is the creator of bitcoin then he can also reverse some of the algorithms he created, otherwise they will find a way to destroy his identity and imprison him, which will certainly hurt bitcoin. These are my thoughts, correct me if I'm wrong.

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Satoshi's identity is still unknown, until now we don't know where he came from, some say Satoshi is American, some say Satoshi is Japanese, some say Satoshi is one person and some say Satoshi is a group ,then they gave the name Satoshi, actually we don't need to dig about who Satoshi really is, we just enjoy what he has done for us and we are quite grateful to Satoshi who has worked hard to introduce crypto currency to us, because in the past we only know the FIAT currency which is controlled by the government, but after Satoshi introduced crypto currency, we can also be free from third parties to make transactions in any country we want. without government intervention.

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Quote from: Doan9269 on September 30, 2022, 06:27:06 AM

Quote from: Techkoy407 on September 17, 2022, 07:29:23 PM

even though Satoshi Nakamoto has always told him his identity, I think bitcoin will still be victorious and be number one as it is now because bitcoin is the first digital money in the world, don't think if satoshi shows up and reveals his identity will make bitcoin unstable or down it's a big mistake in my opinion, even if Satoshi appears it will be phenomenal and attracts all especially for bitcoin progress.

To even make it more simple, if Satoshi should show up his identity that does not change any fact about bitcoin here, if we the users on the bitcoin forum understand the need for privacy and have it secured and the forum itself been built under serving you with privacy without requiring for any verification or kyc during the point of registration, I see no reason why Satoshi should reveal his privacyz for what? that we should all believe what we already have no doubt about or to help bitcoin global adoption, i still can't figure a genuine reason why his privacy should be revealed and don't think it will be ever done at later future.

Satoshi identity does not have any impact on Bitcoin but his large Bitcoin holding does have big impact on Bitcoin, despite the fact that the original concept of Bitcoin is generalization and privacy consciousness this is why bitcoins are p2p oriented for privacy sake.

What I believe is Satoshi already had a well-planned road map of this and that is why he become anonymous immediately after the Bitcoins network became live and transactions were confirmed marking the first time stamp.

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Quote from: Doan9269 on September 30, 2022, 06:27:06 AM

Quote from: Techkoy407 on September 17, 2022, 07:29:23 PM

even though Satoshi Nakamoto has always told him his identity, I think bitcoin will still be victorious and be number one as it is now because bitcoin is the first digital money in the world, don't think if satoshi shows up and reveals his identity will make bitcoin unstable or down it's a big mistake in my opinion, even if Satoshi appears it will be phenomenal and attracts all especially for bitcoin progress.

To even make it more simple, if Satoshi should show up his identity that does not change any fact about bitcoin here, if we the users on the bitcoin forum understand the need for privacy and have it secured and the forum itself been built under serving you with privacy without requiring for any verification or kyc during the point of registration, I see no reason why Satoshi should reveal his privacyz for what? that we should all believe what we already have no doubt about or to help bitcoin global adoption, i still can't figure a genuine reason why his privacy should be revealed and don't think it will be ever done at later future.

well, we don't need to search or investigate the identity of satoshi. as with more than a decade of btc existence, he still remained a mystery to all of us and prefer that way. i guess, that's one mystery in this crypto revolution, the creator of bitcoin. maybe, in time, it will be revealed but it will not be relevant at that time. we just need to be grateful that we have this technology today. it changed and continuously change the lives of people in some ways.

Abiky

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Quote from: Doan9269 on September 30, 2022, 06:27:06 AM

To even make it more simple, if Satoshi should show up his identity that does not change any fact about bitcoin here, if we the users on the bitcoin forum understand the need for privacy and have it secured and the forum itself been built under serving you with privacy without requiring for any verification or kyc during the point of registration, I see no reason why Satoshi should reveal his privacyz for what? that we should all believe what we already have no doubt about or to help bitcoin global adoption, i still can't figure a genuine reason why his privacy should be revealed and don't think it will be ever done at later future.

Satoshi is probably dead, so people should carry on with other important things in life. It was a good thing the creator of Bitcoin decided to become an anonymous person, or it would've been targeted by mainstream governments already. He did it to help protect the project's decentralization and censorship-resistance. According to the whitepaper, Bitcoin was truly meant to be "Peer-to-Peer Electronic Cash". That means no middlemen or third parties whatsoever.

Unfortunately, regulators ruined everything by requiring exchanges to comply with KYC/AML laws. This takes crypto one step back by introducing the middleman. It would be no different than the traditional banking system crypto/Blockchain tech was meant to avoid in the first place. There's nothing we can do now since Bitcoin has gone into the mainstream. While it's still possible to trade and use Bitcoin without KYC/AML, you won't get the same liquidity/convenience as you would through centralized exchanges or other centralized service providers. At least, we know Bitcoin won't be going anywhere because of the way it was designed. As long as the community keeps it decentralized/censorship-resistant, there should be nothing to worry about. Just my opinion

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Quote from: Abiky on September 21, 2022, 07:34:46 PM

At least, Satoshi lived a low-profile life. He didn't want to attract publicity, after all (unlike Craig Wright). Bitcoin's creator planned things thoroughly to help protect the cryptocurrency's censorship-resistance at all costs. If he would've disclosed his identity from the start, Bitcoin wouldn't have been born today. Now it's too late to do anything about it, as Bitcoin has grown too big to fail. Governments are going to need to embrace the revolution or be left behind in the dust.

Cryptocurrencies with publicly-known founders/creators (eg: Ethereum) are in serious trouble as governments could prosecute them at will. Most projects reveal the team's identities to help attract VCs, but they're ultimately defecting to the regulators. Effectively, regulations would prevent crypto from achieving its full potential as censorship-resistant money anyone can use worldwide. It's a dark future ahead for altcoins, due to their decision to sacrifice decentralization/censorship-resistance in favor of cost-efficiency and high performance. With or without Satoshi, I think Bitcoin will last for generations thanks to the way it was designed. Just my thoughts Grin

That was the only way that it could actually survive. Remember when they found that old Japanese guy or something and assumed he would be the satoshi they were looking for and in the end it turned out that he wasn't at all but what he lived through even though he wasn't satoshi.

Now imagine if it was really him, dude would have been going from court to court rest of his life defending bitcoin and that would cripple bitcoin at all times. I am glad that he isn't known and we have no idea who he is, that is a lot better. I personally prefer it this way because this means we all own bitcoin, not just in the sense that we buy it, but more like we "own" it all together.

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Quote from: Techkoy407 on September 17, 2022, 07:29:23 PM

even though Satoshi Nakamoto has always told him his identity, I think bitcoin will still be victorious and be number one as it is now because bitcoin is the first digital money in the world, don't think if satoshi shows up and reveals his identity will make bitcoin unstable or down it's a big mistake in my opinion, even if Satoshi appears it will be phenomenal and attracts all especially for bitcoin progress.

To even make it more simple, if Satoshi should show up his identity that does not change any fact about bitcoin here, if we the users on the bitcoin forum understand the need for privacy and have it secured and the forum itself been built under serving you with privacy without requiring for any verification or kyc during the point of registration, I see no reason why Satoshi should reveal his privacyz for what? that we should all believe what we already have no doubt about or to help bitcoin global adoption, i still can't figure a genuine reason why his privacy should be revealed and don't think it will be ever done at later future.

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It is not just about Satoshi Nakamoto’s faceless identity; it is much more than that. And I feel that ‘their’ faceless identity has almost little to nothing to give to Bitcoin. It might have an impact on it, but other factors like accessibility, volatility, large store volume, etc., are also important.

Abiky

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Quote from: trendcoin on September 20, 2022, 03:35:49 PM

What did Satoshi do by hiding his identity? He protected his life against deep state forces. He avoided personal polemics that were pointless and offensive. He gave Bitcoin to all humanity, not to one person.

In fact, the desire to be known is a very strong desire. We all want to be known because that's when our lives and existences become meaningful. That's why I admire Satoshi, who undersigned a revolution like Bitcoin and concealed his personal identity. Also, I'm guessing it's Hal. I was depressed while writing these lines. Normally I'm not that emotional. Running Bitcoin... Sad

At least, Satoshi lived a low-profile life. He didn't want to attract publicity, after all (unlike Craig Wright). Bitcoin's creator planned things thoroughly to help protect the cryptocurrency's censorship-resistance at all costs. If he would've disclosed his identity from the start, Bitcoin wouldn't have been born today. Now it's too late to do anything about it, as Bitcoin has grown too big to fail. Governments are going to need to embrace the revolution or be left behind in the dust.

Cryptocurrencies with publicly-known founders/creators (eg: Ethereum) are in serious trouble as governments could prosecute them at will. Most projects reveal the team's identities to help attract VCs, but they're ultimately defecting to the regulators. Effectively, regulations would prevent crypto from achieving its full potential as censorship-resistant money anyone can use worldwide. It's a dark future ahead for altcoins, due to their decision to sacrifice decentralization/censorship-resistance in favor of cost-efficiency and high performance. With or without Satoshi, I think Bitcoin will last for generations thanks to the way it was designed. Just my thoughts Grin

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Quote from: Wiwo on July 18, 2022, 10:41:54 AM

Bitcoin's decentralized nature has made it possible for Bitcoin users to maintain high privacy, but even at that there have been a lot of speculations around Satoshi's identity but again none of his social media or other communication channels have been active since his exit from the science some years ago.

Since bitcoin is already in its spotlight, then it’s expected that a lot of people will look for the real founder of bitcoin which until at the present its identity remains private and uncertain. The reason why a lot has claimed that they are Satoshi, just to steal the spotlight that Satoshi deserves. I guess Satoshi’s faceless identity has helped a lot in the success of bitcoin.

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The strongest cardinal point for point its decentralized network and satoshi contributed largely to this, since his presence and identity are unknown he no longer has any influence on the network.
We can see the difference between Bitcoin decentralization and other altcoin decentralization Bitcoin is the only truely decentralized digital currency without the influence of both external and internal factors.

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Quote from: Piesel on September 19, 2022, 12:10:06 AM

Quote from: Iroh on September 16, 2022, 07:16:59 AM

I think Satoshi’s faceless identity gave a great boost to the success of bitcoin. The fact that the creator of bitcoin chose to remain anonymous despite the fame and gain the coin has gathered over the years. Most likely, if the creator wasn’t keen on remaining anonymous, the coin wouldn’t have retained the value it has attained today. Surely it can be considered as a success strategy but definitely not the greatest success strategy.

True, Bitcoin have become stronger without Satoshi presence in the community and that have also given Bitcoin the image of the uncontrollable network since there is no known figure that controls the network and no constant changes that could undermine Bitcoin security such as what we may witness with ethereum proof of stake algorithm.

Satoshi's unknown identity has also given Bitcoin more legitimacy from investors and that is why Bitcoin has remained the dominant cryptocurrency up till this very moment.

I think Satoshi has seen it coming and since bitcoin aims for decentralization, his faceless identity will definitely make bitcoin create huge impact and influence to its users. Maybe we can say that this is just a funny idea for Satoshi but I guess it helps a lot. Making Satoshi anonymous until now has also made bitcoin more interesting and appealing.

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Quote from: mk4 on July 16, 2022, 11:48:20 PM

Not only his/her/their face, but the fact that we don't know for sure what Satoshi's political views are and who Satoshi's preferred presidential candidate is and all that. All we know is that Satoshi thinks we needed uncensorable money separate from the state, and that's it.

No one has come to know Satoshi personally and I think that’s also good so that he’ll remain uncertain to everyone, and that no one gets the chance of ruining his own positive motive for bitcoin. Let’s just leave it there, the most important is his invention was successful and we are now starting to experience right now the freedom from the state when it comes to managing our own finances.

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What did Satoshi do by hiding his identity? He protected his life against deep state forces. He avoided personal polemics that were pointless and offensive. He gave Bitcoin to all humanity, not to one person.

In fact, the desire to be known is a very strong desire. We all want to be known because that's when our lives and existences become meaningful. That's why I admire Satoshi, who undersigned a revolution like Bitcoin and concealed his personal identity. Also, I'm guessing it's Hal. I was depressed while writing these lines. Normally I'm not that emotional. Running Bitcoin... :(

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I definitely agree with this. We always associate coins with their developers. And actions of developers affect perception of those coins. Even if a developer is very good guy, everyone will know he benefits through its existence etc. On the other hand Satoshi is like a monk that developed a coin and sits at temple top of mountain. He is hidden existence helps reputation of Bitcoin a lot.

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Quote from: Piesel on September 19, 2022, 12:10:06 AM

Quote from: Iroh on September 16, 2022, 07:16:59 AM

I think Satoshi’s faceless identity gave a great boost to the success of bitcoin. The fact that the creator of bitcoin chose to remain anonymous despite the fame and gain the coin has gathered over the years. Most likely, if the creator wasn’t keen on remaining anonymous, the coin wouldn’t have retained the value it has attained today. Surely it can be considered as a success strategy but definitely not the greatest success strategy.

True, Bitcoin have become stronger without Satoshi presence in the community and that have also given Bitcoin the image of the uncontrollable network since there is no known figure that controls the network and no constant changes that could undermine Bitcoin security such as what we may witness with ethereum proof of stake algorithm.

Satoshi's unknown identity has also given Bitcoin more legitimacy from investors and that is why Bitcoin has remained the dominant cryptocurrency up till this very moment.

I mean imagine a world where we knew who the real satoshi was and then he ended up getting jailed by some governments, as we all know if we knew who he was that would have happened long time ago. Governments do not like people who create their own money, and they even had a law about it, and if they did know who he was, he would have been in jail for many years now.

And even though we do not know who he is now, and understand that he doesn't have any power over bitcoin at all, if we knew and he was jailed, so he literally doesn't have power over it again, we would have reacted badly to it. So it is amazing that he just left the way he did, it worked amazingly for us.

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