Topic: Satoshi's faceless identity is the greatest Bitcoin success strategy - page 5. (Read 1135 times)

To be honest with you I don't visit the altcoin section any things as that section is full of a lot of spam and fake projects, I classify altcoin into worthless assets so I don't pay attention to them at all. Bitcoin has offered us the total freedom we desire.

Well explained OP. That's a good explanation to convince newbies to take entry into the Bitcoin community. I always said, the only true decentralized cryptocurrency is Bitcoin. Other all altcoins are somehow not truly decentralized although the codes are decentralized. Due to the team images, they could influence or destroy at any time. We have seen recent terra collapse. Here is Bitcoin's stand with true Decentralization.

Not only the greatest Bitcoin success strategy but also the greatest case of mystery, hidden ID, which is almost impossible to conceal in the internet era, not even counting the fact that this person or entity is literally worth billions in fiat.

Satoshi Nakamoto Bitcoin holding is actually more than 1 million as you mentioned, and no bits have been used since the bitcoin was locked in Satoshi's wallets. But no one knows if Satoshi still has access to the wallet holding the coins.

Satoshi being faceless gave blockchain and Bitcoin precisely a great time explosion ie growth with global recognition. Let's assume he owned up by showing himself do you think he can be able to withstand the heat? Only God knows what would have happened to him by now maybe he might just be in jail cooling his feet with government charges against him. It was a nice move he took by not unveiling his identity and funny enough he was that smarter to have been able to manage his  ip till he suuceeded the Bitcoin show. I believe he is somewhere now seeing the good works of his hands. He's a legend and the greatest technologist of all time. I give that to him.

put the tin foil away

first. crypto never has or was banned to a point of arresting any inventor.. otherwise
litecoin inventor Charlie Lee would be in prison
ethereum Vitalik Buterin would be in prison

if he announces himself now he wont be locked up.. why
litecoin inventor Charlie Lee would be in prison
ethereum Vitalik Buterin would be in prison
Wladimir van der Laan would be in prison
gavin andresen would be in prison
whomever is going to take over from wlad would go to prison

there is no back door that satoshi could have revealed that could have been abused.. bitcoin would have been safe either way

locking up the inventor would not have solved anything or changed anything. so put the tin foil hat away
satoshi left because too many people were asking satoshi "can you add this, should i do this" as if he was the decision maker. so he left because he was getting too much thought from others that he was the center.. not because he was the center.

Had satoshi had his identity revealed, FBI,CIA ,KGB would have by now imprisoned him on one charge or another. Bitcoin is a direct challenge to fiat currency and monopoly of governments and international financial system. Thus I agree. Faceless identity of satoshi has kept bitcoin safe.

We don't even know if Satoshi is even a person or a group of individuals or even an institution. In totality, we have little to none information as who Satoshi is. A lot of speculation and theories has arise on who Satoshi is yet none of them has been proven. This is also a good thing as we don't know what his view any topic other than what he created which is Bitcoin that has a decentralized which we has full control over.

There is no doubt that that keeping the identity of Bitcoin anonymous has been a very smart strategy. But even if the real identity of Satoshi would be discovered that doesn't change Bitcoin's design, features and of course its +13 years of history.

God only knows how would the history of this cryptocurrency have flown if politicians and bad intentioned actors have had someone to "blame" for the success.

To cal it all, this is where all forms of fraudulent and fake projects landed at, they make use of altcoin in cryptocurrency as their shield to perpetrate scams and illicit activities, just few altcoins have the conscience of remaining their main purpose and maintaining it, the fake projects troop in this category and promise what is unrealistic but because of what people want out of their inpatient they fall into their trap without realizing any of the said promises.

I really bet to disagree with your point. Bitcoin too can be called centralized in this context. Satoshi Nakamoto holds 1 Million bitcoins, which is roughly 5% of the total supply of bitcoins as it is 21 Million. This actually is too much and enough to actually call this coin centralized as well. Infact some other cryptocurrencies have even less promoter holding than this. But yes the only advantage here is that one the creator is anonymous and secondly it has not moved even a single penny from what the holds so far which indicates bitcoin is quite safe to hold and obviously much better than the rest.

Some lessons from Satoshi Nakamoto aka satoshi in Bitcointalk forum are

• If you leak your identity on Internet, you lose it forever.
• Satoshi Nakamoto did aware importance of privacy and cared of it at beginning
• Satoshi's lesson. That topic is very inspirational. You should read it.

Your words are contradictory. If it was decentralized, the appearance or disappearance of CEO  would ( Bitcoin is not a company) affect it, and therefore the appearance or disappearance of Satoshi would not affect the decentralization of Bitcoin, and if it was central, then what you started with is considered wrong.

They cannot mimic whatever innovations they have in their minds when it comes to bitcoins because their idea of decentralization always ended up with centralization which is really bad for the investors whenever some anomaly happened with their devs and the altcoins creator itself. Bitcoins haven't had these features and you all have all the means of control because there's no entity that can control it or automatically lock it from withdrawing which is the best thing you could ever have for a cryptocurrency.

Not sure I'd use the word lawlessness to describe Satoshi, and also not sure we're really all of us all about the things you mentioned. In particular when remembering some of satoshi's final comments before parting, re wikileaks kicking the hornet's nest and actually asking them NOT to use Bitcoin.

Of course, the context was that Bitcoin was in its infancy, but still, if the faceless identity was the greatest success story, then all of that also needs context.

From your two points above and your last statement down there, so you are invariably saying that "IF" Satoshi was to be Identified, Bitcoin will lose its value meaning it isn't the decentralization of its ecosystem as a coin that makes it strong but the UnIdentity of Satoshi?
If Bitcoin is decentralized which it is and not controlled by any one person and that has contributed to what has made it what it is today, so would satoshis Identity make it centralized?

Why do I feel that there is a lot of misinformation here?  This is very offensive to lots of good altcoin out there.


I disagree, Bitcoin become the top 1 among crypto because it is the first decentralized cryptocurrency.  It is the first one to get established and used as a reference for the incoming cryptocurrency.  It is also the first trading pair of any early cryptocurrency.  It is the top one because it is the most used and trusted.  It isn't because Satoshi is anonymous but because of the continuous development of BTC.  Just like davis196 stated, it is because of the hard effort of the Bitcoin developers, community, and miners that keeps Bitcoin on top.  Satoshi became the anonymous figurehead of Bitcoin a long time ago but he isn't the main reason why BTC is top 1.

Faceless identity is similar like how pseudonymous it is, Satoshi is also unknown whether it's a single person or group and no one will know it.

Alright, then you can mention what's the altcoins you think that's good coin and explain to me why you can think it's a good coin aside from Monero and DAI. Monero is a privacy coin and completely anonymous, while DAI is decentralized stablecoin and can't be frozen except you hold on centralized exchanges. I will wait your answer

bitcoin does not change or still exist because the inventor is not around and is secret
bitcoin has bug fixes and changes through current developers....... and.. guess what.. they are known

wheels on cars dont still turn because the first guy that invented the wheel died. wheels turn because current engineers make wheels for current cars

whether satoshi comes out now and announces him self changes nothing.
the current devs have the control. they make the merges, they make the commits, they decide what does into a release candidate, they offer the updates.

bitcoin is about current devs.

pretending they dont have control and some how satoshi does but chooses not to use it by staying away is the wrong way of describe facts about bitcoin.

satoshi passed his control to other devs, and now its their turn.

there has been many changes in bitcoin in the last 10 years which you can easily affiliate to only a couple of devs.
(segwit=sipa.. wallet stuff=achowe.. mempool stuff in near future=glozow)
 and yep they have names and real world identities which people know. and yes they got paid alot of corporate money for their code changes. (blockstream, chaincode, brink  (chaincode&brink&blockstream majority funded by DCG))

so dont be so utopian about pretending bitcoin is around because inventor has the power but chooses not to use it, while ignoring that current devs do have power and we simply hope they dont abuse it, or pretend current devs are not influenced.

be risk AWARE.. that way we get to keep devs on their toes by knowing we are watching them and reviewing them

if we pretend they dont have power thus ignoring them, allows them silly freedoms to change what they like and think we wont notice, care, put up a fight should they abuse it

I don't like this altcoins=shitcoins narative. Therebare shitcoins among them, but altcoins that are legit serve a diferent purpose than BTC and offer something that BTC can't or won't provide. I don't get where this cultish behaviour towards BTC is coming from, but it's more hurting the perception of crypto than it's helping it