Topic: Was Satoshi someone who lost everything in 2008 Market Crash? (Read 11561 times)

Another angle - I once discussed this with my friend and he said that Satoshi is a terrorist who created Bitcoin as a means of sponsoring himself… I couldn't stop laughing. Well, we know nothing about Satoshi yet, so we can all only just imagine who he is and what was his purpose for creating cryptocurrency and till he shows himself. Though I'm tired of seeing Craig Wright saying he's Satoshi… I'm just really confused. But the way he's been taking it seriously these days, I'm starting to think he is the one though…

I don't agree with you when you claim that mining is no longer profitable. For the large-scale miners, it is still very much profitable. And talking about the small scale mining firms, they are being pushed out of the competition by the large players, and that is why a section of the Bitcoin users forked out Bitcoin Gold as a separate crypto-currency. As far as I know, most of the mining cabals are operating at a profit right now, especially after the recent price rise (this is applicable for all the major cryptos, including BTC, BCH, BSV, BTG and even BCD).

Of course all praise and praise can be found for many people. More people get the benefits of bitcoin, making it possible to live luxuriously. but the most important thing is indeed a bitcoin trip to conquer the government to legalize it

If someone makes everything more valuable then he can can be the best person in this world because Santoshi give his life to the other people to get better life and the use of Bitcoin will reach everyone in this world and give the most profitable used for everyone.

Not only that. Considering the technology behind it, no one can really erase the informations necessary. It also gave people jobs namely mining. Blockchain is not blockchain if no one is mining. though the cost to operate nowadays outweigh the profit. But think about why did he create this? Might be another useful scam for people to fall into or could really be a saving grace for the people of the world. Nobody knows.

I have never thought about it and it could be very interesting if it is true!
Of course he may got inspired by an event and this could be the debt crisis in 2008. However, what puzzles me is that he managed to create a coin (that was never developed before) in one 1 year? If he managed to do that, then he is a genius x2!

It is an interesting idea but it is unlikely, if bitcoin was truly the work of one person then it is safe to assume that his knowledge about the economy and how things work around the world was many times above the average person, so I find it unlikely that he was invested in the stock market, if bitcoin did not exist I will probably be invested in precious metals and other assets like them and I suppose many in the forum will do something similar and I do not see why satoshi would not do that as well.

right, maybe in 2008, satoshi had to take the risk. but I am sure he still has hope for rise and a tested psychology. after that we can see the development of bitcoin from year to year, until 2017. at that time all eyes were on him

This is what one of the  forum user here on bitcointalk must have read that made him believe that another global recession which he believes is approaching will make bitcoin adoption and usage increase more, well, I am not an economist and I don’t know if that would be possible.

What I believe in is the real life working product that satoshi has created for whatever purpose he alone has the answer to, the only way we can just encourage him and appreciate him, is not to keep the good news and solution to ourselves alone, we need to take the news also to the world out there.

Satoshi did not lose everything in a market accident in 2008, of course if Satoshi lost everything surely Bitcoin would not be able to date. in fact in the hands of satoshi bitcoin can develop from year to year and the price can penetrate up to hundreds of millions of that time.

It is very possible that he or they lost from the 2008 crash, but we can't use that as a conclusion since satoshi himself or themselves haven't said anything of that nature. I just believe that they were concerned about the economic crash that was coming to the market in 2008 and wanted to make a difference by creating a platform that would make sure this kind of crash would not happen again since the fiat system is very faulty in nature.

Might be, or not! We are creating conspiracy theories, we have some crazy ideas what happened 11 years ago, but the fact is that just handful of people know the truth and they are hiding it, they probably have their reasons. I left that story behind me, it`s not important who he was, what happened, we have something great here and lets focus on that, on present time and on the future.
I agree with people who say that we should leave that man alone, if he doesn`t wish attention who are we to bother the man, leave him be.

I agree onto that Satoshi nakomoto might be someone who lost everything in the crisis in the year 2008 because the peoples who nearly loose everything have great mindset and can make impossible turn into possible. Satoshi was one of the most genius individual in the whole globe who might surely have been faced a lot of crisis.

The peoples who loose everything they have are the one's who have no worries about how much loss they might face but they concentrate on how profit can they bring for themselves. Those who fail at their first step would surely stand up in their second chance.

Why do you think he can’t cash out his fund if he wanted to, as far as I am concerned, satoshi as an untouched 1 million bitcoin under his jurisdiction, and if we are to calculate his worth now, it makes him the 30th richest man on earth.

Except he is dead or has lost his own wallet keys too which I think it will be easier for him to recover than for us to recover ours, he has the idea, he wrote the code and he will know how to bend and crack the code, but I am still wondering why he is not touching his coin, despite all the challenges he must have gone through if what op said is true in reality.

right, what is important now is that bitcoin can become a concern throughout the world, that there are technological developments in the world of payment, with all its advantages. and now with bitcoin it creates jobs and prints rich people, and many other benefits. there are even countries that replace fiat currency with crypto because of the crisis

I doubt that that is the purpose of bitcoin. Taking into consideration it is modeled into earlier versions of internet money like Bit Gold and Hashcash, I think Satoshi just continued the earlier work of the creator of those projects. It is just a coincidence that the 2008 recession happened that pushed bitcoins use and propelled its popularity.

It may or may not be the reason for the creation of bitcoin but the 2008 crisis definitely would have created a motive to change the traditional financial system.
There were many people who got affected due to the crisis. We don't know if Satoshi was one among them or not but it could have created a need in his mind to bring the next money.
What matter is that he did it and created a revolutionary cryptocurrency. If it wasn't for him then we wouldn't be discussing about it in this forum.
Bitcoin has added so many jobs in the crypto community. It has employed many freelancers and unemployed people. I believe that Satoshi has already achieved his motive to create Bitcoin.

The answer is no, because if you look at the timeline of Bitcoin, Satoshi actually started working on it one year before the crisis begun, and since he most likely can't foresee the future, we can only conclude that this was some sort of a coincidence that Bitcoin's release got aligned with the crisis. Maybe Satoshi did suffer from a loss because of the crisis, maybe he didn't, but this didn't influence the creation of Bitcoin, and in fact Bitcoin has deep roots in the cypherpunk movement, as it's not the first attempt to create crypto money.

Whoever they are, whatever group they are, no one cares since they chose to remain anonymous, we are just grateful to them for creating a system that has been able to at least reduce the total power of government’s right claims over ones finance. Also the fact that it has transferred wealth and distributed it equally for its users who knows how to handle and use the system well.

The only hitch that everyone is afraid of about the system is just the little chance it gave to hacker to operate without being apprehended, and I do hope that satoshi and his groups is seeing this to see what can be done to make the system fully perfect by doing what will eliminate this threat to the development of cryptocurrency to the fullest.

Hahaha. It must be torture to be Satoshi. First he lost his house in the financial crisis, next he can't cash out some of his coins if he wanted to buy his house back.

Brilliant mind like Satoshi would have prepare himself about the imminent crash. He has created bitcoin prior to the financial woes in 2008, but I'm sure he knows that something big is coming up that will affect us globally, so he is ready.


Exactly, that's why I said he has plans already. So he didn't lost, but rather see what's coming, so he is also not just a genius, but a visionary as well. And when we releases Bitcoin, we went hiding and disappear, not because he doesn't have any money or what, but he knows with his creation, something is going to change.

He did that for having financial freedom but nothing more we can assure all of them can be just predictions like how much the price of bitcoin in future.Someone already posted that he needs lost of funds for developing this project so he did have enough funds so he didn't lost on the economical crisis.

We can only speculate. It's not necessary but even people who managed to keep their houses and savings felt the shock and likely lost trust in the system. We can see it now with millenials willing to engage in crypto and alternative ways of banking. They were growing wheen this happened and saw the hardship their parents have to go through.

What we are certain now is that Satoshi have a solution in mind and he acted on it.

We don't know anything about Satoshi's true identity but this could be possible if he have lost it all back then ,
But if he loss it all then this could really be the reaaon why Bitcoin is created .
Maybe he doesn't want others to suffer like he did so je created it to have a financial freedom.

Definitely a link but as an observer, not someone close to leveraged into absolute losses

The answer is no.   My own perspective it was evolved via things like PGP which was over a decade before, way more then one year of process and that history is already known and discussed and even part of this forums content if finding a few famous threads.
The people who lost most in 2008 and I was on the markets myself at the time and holding bank shares I must admit (I did also short index but yea  ), were leveraged beyond their capacity to pay.    Most obviously it involved home owners, not long term owners as much people who had become reliant on the situation just prior to the bust.   So those who had debt built in the 5 or so years prior to 2007 onwards who could not then afford the unfixed variable rates or justify the large amounts they had borrowed.
   The really simple evaluation of price inaccuracy at that time is the price or cost to service debt exceeded the yield or rental value of that housing.    If it weren't for that, other buyers at some level of pricing will take from those who sell, so it really was a bubble.   I dont see Satoshi was part of that market delusion unless they were forced into that debt and I dont think so because anyone who can derive the workings behind the blockchain can also summarise rental costs vs a ten year moving average of interest rate costs of debt.   Just simple cold thinking would have removed that decision to own more debt as sensible.

It wouldn't make sense to do so well in one well weighted algorithm but to fall foul of an observable bad risk.   Even a normal mortage is debt that should be repaid asap because of compound interest, thats the sensible but boring route.   The market itself takes bad risks on because its funded on highly liquid leveraged money pretty much and at this time the ultimate reason was government backing to the debt which has become something ridiculous like 90% of housing debt is now backed by government.   There was a kind of false arbitrage, this was not a result of a free market and a normal bust falls over much sooner without support

We have so many humans in this world that are problems solvers and they don’t have to experience a problem to have a solution to the problem, he might not have even happened to him, but happened to someone close to him and many more people, and then as a thinker, he will start working on a solution that could bring the problem using his IT skills and intelligence.

This was how bill gate too was able to look for a problem and then he worked and solved it which gave birth to what virtually every home is using till today, it dint take bill gate just one day to fulfill his dreams or create awareness for his products, the product itself spoke for him and this is how Bitcoin will speak for satoshi in the future.

Maybe Satoshi is the name of group of a people but no one can prove anything elated to it which is the also one of brand factor of bitcoin that is anonymity.

I am not sure that huge funds needed to bring that project but it is hard for a single person to do.

I believe we need to uncover the reason behind the creation of the system.  That is how we can maximize the potential of the creation.  There is no question about appreciating the person or group that created Bitcoin, but in order to go in the right path (main purpose of the creation) we need to know the hidden or real  agenda  behind the creation.


Yes, I agree and you did not mention him being selfless.  Shying from the spotlight and to avoid political power influencing the decentralized nature of his/their creation.

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With a briliant mind as Satoshi Nakamoto, I doubt he lost everyting in 2008.  I believe he predicted it that resulted for him to research and create something that can pobably solve a global market depression such as 2008 market crash.  He just waited  for the right time to launch it.  And that 2008 market crash is the trigger.

We all have a theory or thought about Satoshi but yours is not qualified for that, for one I don't think it just started 2008, the guy I believe has been on it, much earlier than that, he studied cryptography much earlier, and if you are so much into what you are experts in, you tend to create something within that.

You are right mate, we just need to appreciate his person and not bother much about what lead to why he created the system he created, and for whatever reason for which he has created the cryptocurrency for is not for his own benefits alone but for the benefits of the whole world, he has really made great impact in this world.

We really need more of great minded people as him to move this generation and the next to the next level. Very soon, government themselves are the one that will really be finding a way to get satoshi out in other for them to be able to get more ideas on what he can still offer in the area of economy.

Proof? No seriously what's your point?

What I'm saying is that IMO one person could not do what SN did in relation with Bitcoin inception. Since it's a weak argument and my opinion only, I use ICOs as a comparison. ICO with a well-funded team cannot do what SN did. Therefore SN probably is not a human (single person) but a well-funded team, and won't be affected by 2008 market crash.

Above is not a fact, but my opinion supported with logical explanation/story.

I was one of the minority here that the creation of bitcoin was due to the economic turmoil we had in 2008 as evident by his reference of the "“Chancellor on Brink of Second Bailout for Banks” in Genesis block. He may have not lost everything though, but I believed that he was deeply affected by the current financial situation that time that he decided to complete his work, released the whitepaper and his creation.

I think satoshi was someone who was already working on crypto currency way before 2008, he was definitely getting his work done faster because of it but if you check the history of all "e-money" type of deals you will see that it was done before 2008 as well so bitcoin just got more famous because of 2008 but was not created because of it.

I am not so sure about the discussion of "was he one person or was it a whole organization" because at the end of the day there is a lot of bitcoins out there owned by him that is not touched at all, he hasn't written anything at all and he might be even dead by now. So long story short I feel like bitcoin was not created because of 2008 and he was in talks with previous creators of early e-money type of stuff which is enough proof that he didn't lost anything in 2008 to create bitcoin.

We can't exactly say yes but I guess he was there when such thing happened. I'm sure that he didn't live a perfect life and he also experienced the same hardship but the best thing is he has pass through all those trials. Those things could be his inspiration to create a currency like bitcoin.

https://gotsatoshi.com/

Here is the countdown, just 5 more hours and we will find out who is Satoshi Nakamoto! Or maybe not?! I don`t think much about him, I remember reading his last post that he is going off the grid after some agencies starts to search for him, if he wish peace why to not give him peace? He gave us bitcoin, he made many people very rich, can we give him that little thing called peace?
One question is important here, will revealing of Satoshi identity contribute to bitcoin popularity or not?

Really one of the greatest question that has been asked here, really. Maybe it was one person who lost everything or maybe a group of "avangers" that decided to fight against fiat and government and offer something new that would protect our privacy, freedom of choise and will be seperate from government. But I have another question, one variant is it's the war that they wage but why they disappeared? Sometimes it's a good and clever action but did they continue fight after creating btc? I think again everything turned into personal interests, bitcoin has lost it's first face, aim is lost, it's now financial benefit.

Never cross in my mind about your speculation but indeed nothing impossible in this world as long we don't really know what is the real purposse when Satoshi create bitcoin at that time but besides all of it he or they already makes bitcoin from worthless to valuable and regarding the identities from Satoshi it was successfully hidden from the people

Interesting theory but we must first settle the nationality of Satoshi before we can make that theory, we do not even know if this is an individual or a group of people or a company, I think his works goes back much earlier than 2008, could be 2006 or 2007, and it just materialize on 2008 and 2009.

Satoshi only created one project which is bitcoin and any time we mention satoshi and ICO, that is the only project we need to attribute to him which has been a successful ones, we all know that satoshi in his whitepaper did not advise people to use cryptocurrency to raise fund, he only advised of using blockchain technology in solving some challenges of the organization.

The project he even created himself was intended for payment purpose only, the reason why he did his own ICo then was just to get support to be able to make the project a successful one, but ever since other companies saw that it was possible to use it to raise fund, they started copying him.So them not delivering project has nothing to do with satoshi, satoshi delivered his and that is what we are still enjoying till date now.

Exactly. It's more likely that he had enough funds to last him a long time, therefore didn't mind spending so much time on a project that just as easily could have failed badly.

The fact that the currently ancient satoshi coins haven't been touched at all, also indicates that satoshi isn't and wasn't in need of money (obviously assuming he's still alive and has full access to all the private keys).

Satoshi is such a mysterious entity that people talk and think on his behalf without knowing who he is. Just let satoshi be who he is and focus on your own goals in life. Bitcoin is the tool helping you to achieve them.

Possible but even before that, project btc has been started. So wether he is one ot them or not, btc will be born. Although Satoshi is considered genius, creating btc won't just take a year to be made especially if you are just making it all by yourself. That also make others think that Satoshi is a group.

I believe Mr. Satoshi is a humble person, very intelligent and with vision. I dont believe Mr. Satoshi lost anything in the market crash because bitcoin still exist and his dream is becoming reality, step by step, day by day.

news about who is real satoshi  still not fixed yet.but i am sure satoshi still active developting bitcoin and blockchain.just let satosi in our imagination as long as bitcoin price expensive.

Not sure how can we finalize it or is it just a assumption where we still do not even know is Satoshi a male/female or an group of institution which came together and create this coin. Just nothing could be said regarding it and still how much do they know is uncertain. So better lets not predict it if they lost it or not.

This is just an assumption and theory, we never know that because there was no mention on his record that he really suffered from those lost, but whatever reasons he has in creating Bitcoin, he has done a great job, uniting all people from all walks of life and belief, but let us just believe that he is a good person and he just means well in creating Bitcoin.

It could actually be possible bro, there are so many things that I found wrong with our government that I am so angry with and if I have got the chance to cut them off the lives of people, I would have done it, because sometimes, government and their policy is one of the problems why most citizens are finding it difficult to leave in this world that God has created for everyone to equally enjoy.

So you are right, satoshi could have been affected by the mayhem that was unleashed in that 2008, and being a smart man and a lover of freedom, created the system that will make people not completely rely on the FIAT system  of government that has failed us and out countries into big debts.

I don't really think so, it can't be that he's among those that such thing happened to. This guy has a wallet where he left over 1.5 million bitcoins in it. In 2017 the worth of those coins puts him on the list of world's richest men. If you ask me, I will say this guy is a rich guy. We just don't know who he is and I don't even know why he's abandoned a wallet with such amount, could it be that he doesn't have access to it any more or he's no longer alive? Whatever, at the end we will all know what it's all about.

Here's a post from Satoshi himself how he started working on Bitcoin in 2007. If he were to be a person who had lost 'everything', I imagine he would have been busy trying to survive, instead of working on a novel project with an unkown/highly unpredictable ROI.

It's possible, but even though that would be true do you think bitcoin could be developed and launched and just one year? I don't think bitcoin was created just because of one event that happened to some guy because this was probably something planned for years and Satoshi worked on this for a long time before actually launching and showing it to the world because he couldn't just come with something created in a few months and say this is going to be the next currency of the world.

I believe more in the possibility that someone close to him has lost everything. Including a job in the financial market. He did not seem to be such an obsessed person to have and spend money. He always seemed to me much more an idealist.

Why do you think Satoshi began to write the code prior to 2008, I think Satoshi has vision about the 2008, and they are making preparation for it, and they waiting for the best time to launch their first experiment, and I think they wait for the Lehman collapse, certainly they may be losing, but they may not lost everything.

Yeah,he might be someone who lost value of his assets due to the market crash or just don't want to see these paper said to be money for centuries by group of people called banksters.But he made something great which was people looking after that crash and got succeed as well until now.

He may have been working on bitcoin or considered working on it before the crash happened. It is possible he abandoned it at some point .
  The economic crash probably made him more determined to complete the project

He could lost something but for sure I would never bet on that he lose everything.

Bitcoin was not created in one year. And it is something that people tried to create over decades.

I also thought that maybe it really happened or not that no one knew anything except Sathosi himself. But if so, why until now no one really knows who and what the Nakamoto Sathosi is like. There is even an article that says that Sosiosi Nakamoto is not an individual but a group that calls themselves Sathosi Nakamoto, I don't know.

right, nobody knows that for sure. however falling in the business world is a common thing, but the difference is how to get up. and until now bitcoin has shown that. not only for personal, but useful for many people

Such ideas and, most importantly, their implementation do not come and are not realized in a very short time. Surely the implementation of such a project as a cryptocurrency would take years. Moreover, information has already appeared that in the nineties there were ideas for creating cryptocurrency. Just the economic crisis of 2008 could significantly accelerate the completion of the cryptocurrency project. In order to create a cryptocurrency, it is not necessary to experience a personal tragedy financially. In addition, the fact that Satoshi Nakamoto could lose his property or money during this global economic crisis is only a guess.

Well couldn't agree more that this is always a rookie mistake to sell out all your stocks at the time of crash just to be safe out of it. But I think most of the newbie investor respond towards a crash in this manner only. Moreover, the theory that banks and agencies themselves were involved in making this crash a reality even questions the very existence of banks which make investors even more worried about the stocks they are holding. Nevertheless we would surely never be able to find out the whether he was affected or not.

I don't think a person who is as skilled as SN would not realize a bubble and imminent market crash --if we assume SN is a person.

Look at all the ICOs with enough fund and team members, yet they fail to deliver the product after all this time. This situation made me realize that SN probably is not a person.

I don't think so?

Bitcoin was created in 2009 and the market crash happened on September 29, 2008. So after the breakdown of losing all of his profit in the market, he created bitcoin, no that's very impossible. Bitcoin was created in January 2009, How can you even do a wonderful technology with a peer to peer transaction for just a few months?

I don't think that Satoshi Nakamoto can do that alone, he might be an organization or a group of people that have a lot of knowledge on the web.

No one knows but talking about the possibility or chances for this kind of reason is lit.Bitcoin creation or generating ideas wont really be sufficient on 1 year time.This do
need a couple of years for btc to be molded not just on a single year for this revolutionary tech that do opposes fiat system.

We don't for sure, but it is possible for that to happen. The thing that makes it harder to be true is that the span of time is very short, only 1 year to complete Bitcoin is far beyond unbelievable. But who knows? The very truth that he created can also be assumed that it could happen with just a year. If that is the case then he is really a genius that was born in our generations like Einstein, Tesla etc.

I don't think this happen, and i think Satoshi create bitcoin for his thought about create a system which is totally different from what banks offer.

LOL.  Very true, and I never thought of Satoshi as one person but as an organization and that bitcoin might have been released in response to the crisis of 2008.  I don't have any evidence for that, nor was I around here when Satoshi was posting, so my theory has a big ignorance factor attached to it. 

You have to admit that it was one hell of a coincidence that a bank-less, government-less form of money was created right when there were legitimate fears that the whole banking system might come crashing down.  Of course it didn't turn out to be as bad as a lot of people thought it might, but bitcoin would have solved the problem of having a form of money that didn't depend on banks or governments. 

And no, I don't think Satoshi lost everything in the 2008 crash.  I had a lot of money in the stock market at that time, and I was unaffected by it.  Why?  Because I didn't sell any stocks when the Dow dropped to 6000 or whatever the low was.  You only could have lost everything if you were crazy enough to sell at the bottom, and I doubt someone as intelligent as Satoshi (assuming it's a single person) would make that rookie mistake.

I think if you watched the news and you saw the millions of desperate people begging for their own money in front of Banks, then you would also become very motivated to develop something to "disrupt" the system that caused all that misery and hopelessness.

The moment for me was when I saw a old man collapse in front of a Greece Banks, because they closed their doors and he could not get money to pay for food. Why should they have that kind of power to control your money, if they were only suppose to keep it safe from other people.  

To be honest , everyone on some level is sick with banks and the government to be honest , even in the most democratic countries like India there are still things that makes you sick to the stomach when you actually experience them yourself and that's just how even in the most democratic republic banks , governments , politicians and even people with huge amount of money controls the market .
This is sad , and it's true for most of the world , if you have money you have power , the power to influence the market and I think Mr. Satoshi quite honestly experienced everything and was sad , and instead of accepting that he actually went ahead and made something that is ground braking.
This guy deserves credit more than he gets.

We can't know for sure but there is a possibility. Keep in mind that the underlying technologies that built within BItcoin already exist way before the existence of Bitcoin like Blockchain, and etc. Satoshi might know it before and require some time to learn about it then mix all of them to Bitcoin. Which currently, it is still a strong cryptographic built technology, even though some expert said the Bitcoin code quality isn't perfect since as far as I know Satoshi arent a c/c++ coder.

There's no lack of such prophets, ever

You can find many claiming the US economy is on the brink of collapse under the burden of its national debt. But they have been telling that (and all other possible doomsday stuff, for that matter) for years and one year (or even one day) some of them may in fact turn out right after all (read, a broken clock can be right at times)

However, we could rephrase the question asked in the opening post in the following way, i.e. would Bitcoin appear if there hadn't come the economic crisis of 2008? If you ask me, the emergence of Bitcoin (or something very similar conceptually) was kinda set in stone to occur no matter what (read, crisis or no crisis)

I never think like that, but it could be possible.
I am sure the bitcoin project was running before 2009, and Satoshi Nakamoto with his groups (if any) was created one technology to solve the financial problem.
Maybe he sick to see the situations, so he introduced peer to peer transaction to the public in 2009, and it's boom as what we see today.

The market rebounded as it always does, anyone who panic sold in 2008 acted emotionally and not rationally.  Smart investors were buying property and stocks after that crash.  Investing isn't a short term gain, you need to have a long mind frame like Warren Buffet.

Bitcoin is not an overnight experiment, that's for sure. However, the economic crash in 2008 became one of the impetus for the introduction of Bitcoin to the world but it would already be a stretch to imagine that Satoshi Nakamoto lost everything in that economic malady because I am sure that he was a smart guy who can easily sense of things coming to the economy. Remember that before 2008, there were already many prophets of gloom predicting that an implosion can be coming and Satoshi must have had heard of them.

There are some articles that talked about the fact that Satoshi was a shy person so I think that the global financial crisis has affected his family, which led to his move to Britain or any English native speaker country.

It is true that the 2008 financial crisis has affected the world but the impact has been limited to individuals in some countries. "The impact was mainly in the United States and the European Union."
There are a lot of companies that have succeeded after the collapse so you can not count on it as a measure to create BTC.

yes. we cannot imagine his struggle during 2008, but clearly we can now enjoy the results of his thoughts. of course the struggle was harder than it is now, hopefully crypto can continue to grow and provide welfare to its members

I'm not of the thinking that bitcoin was created as a result of poverty or hardship, nope. Bitcoin must have been an after thought of replacement of some certain existing system and structure, be it payment system, gold, slow fiat transaction system, mode of asset accumulation and affluent.

It wasn't an impromptu creation, of course from its technology we could confirm that. It is a well codified structure that couldn't have lasted from 2008 to 2009 that bitcoin was created. It is far beyond the 2008 crash but must have been a coincidence of 2009. One year after the crash.

It's possible but we can't surely say yes. I think he has been through a lot of downfall as well before the creation of cryptocurrency. We can't say that he has that kind of agony in 2008 but he has experienced the same struggle once in his life.Even most of us has our own downfalls but Bitcoin is really life changing just how it even changed Satoshi's life and the entire crypto community.

The 2008 financial crisis was the main motivator for him to create bitcoin.However we can't be sure that he was personally affected by the 2007-2008 crisis.
I don't believe that Satoshi was a poor guy back then.Having money issues won't allow him to fully focus on that open source project.The lack of money can put immense amount of pressure over someone,thus he might start making mistakes and wrong decisions.

I don't think you need a deep finance background to realise it's mainly a load of poo. Anyone could figure that out with a few minutes of reading.

There are a few decisions of his that strike me as those of someone buried in computing and little else. Ignoring unit bias is one of them. And if he'd truly set his heart on it being used as a currency then an ongoing, but very modest, tail emission would've made much more sense.

The timelines all line up so its possible. Makes you think maybe satoshi was not only an expert in IT, but maybe involved in Finance.

Blockchain can be used to record anything, like with namecoin and ethereum. So the fact that he/she chose currency (through bitcoin) as the use case could be significant.

Well it might not be necessarily Satoshi himself who lost a lot in 2008 but maybe who the situation was so bad and the amount of people that lost back then made him feel the incentive to do something about it and come up with a solution to prevent such things from happening by creating the Bitcoin we know today, and maybe when a crisis like this happen again people will look at their choices and start using bitcoin and take matters into their own hands rather than wait for governments to do something about it.

Interesting idea, This could be true maybe Satoshi lose so much due to debt bubble.
After all we don't know anything personal to the creator of Bitcoin.

Haha! Imagining that seems to be quite funny. But yes I think you are right! This definitely would have required a lot of experimentation but maybe that phase would have played a great role in assuring him the need of cryptocurrrencies. Moreover we had a couple of ledger based online currencies before bitcoin too like Bit Gold & other he made bitcoin to be the best out of them so we can't be 100% sure that he created the whole blockchain idea from scratch he might have taken aid from other currencies prevalent and might have made some drastic changes over them.

Yes, even I googled to read about it further but couldn't find a strong content over it. Moreover the first time bitcoin was mentioned in history was with the domain registration of bitcoin.org in August 2008. We don't know how much time would it have taken before that to create it.

The timing never occurred to me before, but now that you mentioned it, it kind of makes sense. I don't think Satoshi necessarily lost anything during the crisis, but it probably was a very good motivator to make the money that won't depend on banks. After all, it was the banks' fault, a D after the crisis they stayed in power nevertheless. I googled this idea, and there are even some articles suggesting that that's what happened.

Quite possible. Nothing to do with the creation of BTC though.

It's an idea that would've taken many years to brew and a lot of experimentation. There's no way he'd arrive home in 2008 to find his locks changed after the bank had shut him out, gone to his car in a huff and created BTC in a Burger King car park to spite them before going off to drown his sorrows.

Just came across this thought. We all know what happened after the housing debt bubble burst near 2008 which led to a global level depression in 2008 which really ruined lives of millions of people worldwide. It even raised some great question about fiat debt and it's working. Lots of people lost their jobs, houses and everything.

Another fact that Bitcoin was created right after one year in 2009. So do you think there is some chance that satoshi was someone who lost his everything in 2008 crash, his job, his assets and his house.

He was so frustrated with it that his trust on the fiat financial system completely broke. He was sick of government, sick of corporate and sick of banks because of which he thought of creating real money thus creating bitcoin over blockchain and completing it in the very next year. So that people don't lose their money just because of debt bubble