Topic: What could have Satoshi faced if he made himself known from the beginning - page 4. (Read 1059 times)

The fate of satoshi would have been that bitcoin would depend on him. Because of this bitcoin could never be decentralized, since it would be centralized around him. Because he did not reveal his identity he can be still around in the bitcoin sphere but without people knowing that it is him.

If Satoshi have revealed his identity in the beginning, people could've understood his innovation in a different way. In specific they could've thought his innovation as a way to make himself rich and this doesn't have anything better than the traditional system that is being followed around the world.

As he kept the identity hidden, people understood the technology in the right way. Just through the word of mouth spreading it have reached millions of people. Now this even have got accepted as legal tender in a country. These level of growth could've never happened in the short time period.

My personal opinion is that if you ask me, if I were you, I would never trust an asset that is under the control of someone or some government, and there is a risk that this person might get murdered or arrested if this happens. Because of this, a lot of people are starting to trust bitcoin because disclosing Satushi's true identity could have a negative impact on it, and if Satushi had faced himself at the very beginning, the demand for bitcoin would have been much smaller.

This is a whole lot from you PrivacyG, and I support your view completely. Although, no one knows what would have really happened, yet I am sure that some of what you had narrated might be meted to him so that he would not be able to alter the economic scope of the world, particularly in the country it would start from.

He knew the risk, so he was smart, which is the right thing a wise person would do. This has revolutionised the world's payment system, it would not have been easy to say the truth, he must have been harassed, if not killed or imprisoned for an unjust course.

I am with you on this and the country it started from matters. There are countries that are not democratic, and once they see him as a threat, they might eliminate him before people start knowing what Bitcoin is. We only appreciate it today because it overcame all hurdles, and if Satoshi is seen now, nothing would be done to him again, but he must beware of the countries where crypto is banned.

The world government, especially the US knows how to kill ambition before it thrives. They might see it as a threat and would have stopped it with all their mights before becoming what we see today.

Of course, the threat of Bitcoin to the monetary system would have been the point of trial by the government. They might link it to aiding illegality and others, and the media would buy the idea to further frustrate him and his project. But I am glad that he outsmarted the system, the government cannot harass millions of adopters now, BTC has come to stay.

Satoshi's product is built on the international space and I really don't think he needs to be answerable to anyone, besides how is this generation going to leave a mark like the Newtons of this world, the Alexander Bell and everyone else

Am pretty sure different governments would have tried to make him hit the killswitch as this directly competes with real life money systems and the alike. But crypto being decentralized its too late to stop it now, this bird has taken flight

If satoshi had made himself known to the public it would have cause more harm to him and I don't think if the existence of bitcoin can continue up till this time. If he was known the government would have frustrated him and we won't have anything like cryptocurrency,  their    wont be any opportunities to invest bitcoin .  I don't think if their would be any  advantage for satoshi to make him self know to the public,  and people would not have believed in bitcoin as a reliable currency.

This what makes bitcoin more interesting, the idea that we don’t know who he is except by his name. Bitcoin being decentralized and adding the sense of him not being known makes people attracted to BTC more. There is mystery behind it that we wanted to see how long bitcoin can be and how much it can reach despite all the news. It’s a good decision to Satoshi to be unknown to still have life and not be threaten by people who might use him for their benefits.

Satoshi would have probably faced the same fate as anyone who tried to free the people from the dominance of the western worlds central banks... Middle eastern countries know this best. Its a war on who controls the money and people have been murdered for that cause by our own governments. Thats really what we need to get away from. And this is what Satoshi has provided us. Whether he would have been taken out in revenge or as a poor attempt to stop Bitcoin, I am sure that he would not have been left in peace from Uncle Sam.

Forget about fate i think people wouldn't have believed on bitcoin then. They would have always thought of it as a Ponzi scheme which is centralized as well because the owner of all of it would have been right in front of you. People would have always doubted the complete self operative blockchain idea. So ideally it's really good that he didn't disclose himself to the world.

In my opinion it's not only about the world governments because probably, at that time, they wouldn't even take his project seriously (just think telling someone "hey, there's a digital currency that wants to replace the US dollar, it sounds fun, doesn't it?) but about getting people's trust. If we knew who Satoshi was probably the story would have been different. Or at least that's my idea.

No, but they aren't nearly as successful for a lack of a better term, since success can be measured in different ways, and I suspect many of these served as inspiration for Satoshi. Although, they didn't change things the way Bitcoin does, there's a few technical differences. Bitcoin allows you to be completely in charge of your own money, has a public ledger than can't be altered, and those alone pose threats to any business which relies on fiat currencies, including the government.

Eventually, they'll either adopt or ban. I think that's ultimately what will happen. Maybe, not a complete ban, but it'll be so regulated that it'll be almost like a ban. So, in relation to that, coming after the guys you mentioned doesn't really make sense since their ideas never took off in the way Bitcoin did. Satoshi, would definitely be a person of interest to many of the governments out there.

Digital money innovations before Bitcoin failed. Bitcoin would have failed also if Satoshi Nakamoto presented himself to the public. On the occasion that it gains a foothold and support, the whole financial system will not like its decentralized manner. Sponsored by the biggest corporations, law enforcement will do everything to crack it down. The whole personal life of Satoshi Nakamoto will be investigated up to the smallest object he owns. It is not hard for the CIA to blackmail Satoshi Nakamoto which will lead to Bitcoin's downfall. Whereas, Satoshi Nakamoto leaving and staying anonymous helped Bitcoin in sustaining its freedom and increased decentralization.

You are being too positive here whereas in reality its quite the opposite. We already have fines implemented in our country and prison sentence as well.
But people are still scamming others and thieves are still stealing money from others.
The fact that the amount of reward is greater, motivates these people to execute more of these illicit activties.
If Satoshi was alive and had a public identity he would have been the primary target of these people.
They would kidnap him and steal his keys and probably murder him. It's good that he is anonymous.

Apart from the security issues that people are emphasising, which I don't think will be as it is being said here. Meanwhile we know the creator of Ethereum and we know the likes of CZ and they are still alive.

I am of the opinion that if Satoshi decided not to be anonymous there would be many confusion in the bitcoin network. His influence would have caused big breach in decision and it would have led to many forkings in the bitcoin.

If Satoshi has been known from the beginning or the public knows about the real Satoshi, from the first time Bitcoin was introduced until now, I believe Bitcoin is not as expensive and not as great as it is now, many people want to drop him after knowing all the secrets, about the creation of digital currency technology and Bitcoin.

You can take an example to the creators of Ethereum and BNB, how they are now, that's how Satoshi are today.

Bitcoin is recognized by all elements including the government, it's just that they pretend not to recognize it and prestige, because Satoshi is smarter than them, all the leaders in this world do not want there to be people smarter than them, most likely killed or in prison for violations, based on their understanding.

For me it's better that Satoshi has never been discovered and known, that way crypto users are safer and calmer doing something about Bitcoin, without submitting to the government and so on.

No idea, maybe bitcoin will fail like previous known-founder e-currencies. I think his actions have helped to perfect the decentralized entity he created.
All I can say is that he disappeared at the right time and in the right way. Almost no trace.

Fame for sure, just like big names such as Vitalik, Elon Musk and the likes. I doubt he would face lawsuits because investments in this industry are not by force. Investors engage out of their own curiousity and also, Satoshi is not earning money from every downfall of the market value which makes it clearly not a scam; as most non-crypto users believe. As other users have mentione, there is a tendency for him to be criticized but that has nothing to do entirely with this industry. But I think hiding himself is an strategy(just a guess). Just look at other founders who are known. They are being criticized which affects the market value (sometimes) of the token. So if Satoshi won't be, then hiding lessen that tendency.

If Satoshi has made himself known,he will be forced to go against his will for creating bitcoin because the government will want to have total access over it. And if he refuses he will have his family kidnapped and put on hostage,also he will be arrested and tortured until he will accept their terms and conditions to control Bitcoin technology.

Satoshi will have been killed and Bitcoin will no longer be existing anymore,likewise this forum bitcointalk will no longer be active because users will be disappointed or will abandon the forum because the forum was made by Satoshi strictly for Bitcoin discussion. Bitcoin might even become a centralized system if he gives the government their demands.

We're getting a little philosophical here, but lets look at things from another angle.

The world & cyberspace as we know it is plagued with all kinds of scams, that makes people do things like quit websites or certain real-world services because of the similarity of those scams to those services.

But what if all that could be different? Like, you could walk around without worrying about some wolf in sheep's clothing attempt to scam you?

Right now, people are only scamming others because it's profitable. If the profit is taken out of the equation, everyone would run away with it because the only variable left would be the risk of jail time. And nobody wants to go to jail.

How do we take out the profits from scams? Using fines.

Governments fine people who have been caught scamming others, then the government returns the proceeds to its rightful owner. The scammers do not pay up or try to run away? They put them on an Interpol wanted list. That's how it should be working.

We have some examples of famous CEOs, so we can get the general idea of consequences, but there would have also been some differences for Satoshi.
Take Vitalik Buterin. He is a human being, a person you can see and read about. AFAIK, he still plays a decisive role in the development of Ethereum (choosing the direction, major changes and stuff), unlike the development of Bitcoin, which I believe is more decentralized and cooperative because the founder is not there and CEO of Bitcoin is not a thing. Also, as any person, he has opinions. For example, he opposes Russia in the Russo-Ukrainian war, which means people who support Russia are probably angry with him. He is also a very well-known figure, so he probably needs to be mindful of his surroundings, perhaps have a personal bodyguard and good security at home.
Satoshi can be expected to have faced similar matters: central role in development, opinions which some support and others oppose, security and publicity issues. On top of that, Satoshi, I believe, could face legal action because of being the first one who created a cryptocurrency and because of most certainly not paying taxes for their BTC. Plus, the publicity would be worse because Bitcoin is more popular that Ethereum and appeared earlier than Ethereum.