Topic: What Do you think Satoshi Would Think About Today's Bitcoin? - page 3. (Read 735 times)

If Satoshi were alive, how many proud people would not feel ashamed to call themselves the Christ of world finance? It is obvious that if someone performs such a great feat, which has been invented by someone from the history of the world to this day, humanity, Dedicated to According to my opinion, Satochi has done what humanity has been trying to find for centuries: discover a system in which there is no need for a third party, everyone has authority over their own portfolio, and someone else's assets can easily be stolen. Or can't do any damage. Believe it or not, this invention of Satochi was entitled to a noble price in that era. In my opinion, if there is no fear of mistakes and if I can save my life, then it will be right to bring Satoshi Nakamoto to number one on the list of great people of the 20th century. Because he created the service that is first in need, it means money.
 
There are no obligations on any person in the cryptocurrency industry regarding how you want to earn, invest for a long time, or trade for so there are no such obligations on you despite the fact that it is entirely up to you as to how you can profit.

And above all, he may be upset as he would have thought that bitcoin would have been used as a primary currency or as a medium of exchange but it is most used as a store of value.

So, he would be happy seeing all the centralized exchange control of the bitcoin, all these whale manipulations and also these big pump and dump of the market. Also, he wouldn't have dreamed that the altcoins would find a place inside the crypto world where 95% of them are built only to get people's wealth and give them losses.

Either there will be large volume or no volume. The estimates conveyed by him are more than 20 years old and Bitcoin is still the same which has brought real change as an extraordinary breakthrough in a free financial system without the need for intermediaries in transactions.

Currently, when many people use Bitcoin as an investment asset with the hope of large profits over a long period of time in each period, it is not a mistake, because using it as an investment asset can bring profits, meaning that Bitcoin is successful on both sides. The first side is successful as an easy transaction tool and the second side is successful if used as an investment asset.
Satoshi succeeded.

I don't think he'll be too happy with etf's, or with people storing their BTC's in centralized exchanges, but on the other hand he made BTC free, permissionless and censorship resistant, so who can tell another what to do with their coins? What matters is that BTC is doing what it was created for, it is p2p electronic cash and anyone can use it for that anytime they want to. I don't think we should be too concerned about what Satoshi would think about BTC right now, but just use your coins however you wish to do so.

I can't really say what's on satoshi's mind about the bitcoin coin  today, but in my perspective I think he would be proud cause he had a vision about creating a digital currency and above all odds he made it . And moreover bitcoin has changed a lot of lives today than any fait currency. where ever he is I think he is really smiling.

As much as bitcoin is the brain child of Satoshi, I don't think any developments of the coin are a solo decision, and whatever coin we have today has gone through a consensus that represents the majority and they too have a limit to how far they can go, because any big changes or a hard fork done on bitcoin means we could have something...probably an altcoin.

All in all, bitcoin has never been perfect and along the way its had the opportunity to get some cosmetic upgrades that has made it better and Satoshi himself wouldn't be mad about them  

People don't put their money where they can't make money and having bitcoin has a currency or store of value isn't fun anymore, people want more hence the cry for Bitcoin ETFs which is a platform to make more money and get bitcoins price going up as a by product...so it's not about being the OG of BTC, sometimes let's move with time.

He'd be happy, his vision and whatever has happened still it's being adopted by the world. Someone who has invented a project that's being adopted globally regardless of what his vision was and didn't anticipate to be this big will surely make himself happy and satisfied. Many have also noticed that in the past but that's fine, Bitcoin was mostly considered today as an asset, a store of value, and while small traders and investors are just accumulating and taking profit from it, and the same goes to the institutions that are joining the space and surely satoshi if seeing that will be mostly proud of himself.

Also, you taking down my whole question in to a quoted sentemcr is trying to invalidate all my opinion; don't look at my newbie rank; I am in this industry for long time, in 2 years a decade.

Well if you read the previous, you would also know I have a long trading history; huge losses which made me self disciplined into the topic and no I don't plan to trade bitcoins, I only buy and don't sell , If that is your question. Water is not created by man kind, and God didn't give a whitepaper about water; but BTC has a whitepaper, no need for aggressive defence mechanisms; I already asked your thoughts, and you have given them. Water example is not valid.

I think I wouldn't be upset if I were Satoshi and saw Bitcoin becoming what it is today. Yes, the goal was a different one but it has evolved into something else. Now it has multiple use cases and more freedom. It still holds the purpose of being decentralized. It is still the ultimate P2P solution no doubt. And that's the beauty of Bitcoin. It can be whatever you want. For example, P2P transactions digital currency, borderless transactions throughout the world, a way to make money, an asset, a payment method, someone's property, or someone's retirement plan.

It is evolving to become more and more every day. It was Satoshi's vision and now it has become ours. We can make it grow. So I don't think Satoshi would be upset. At least that's my thinking from my point of view.

Your question somehow looks like saying ( water is only meant for drinking) hence why do people uses water to bath and do other things, this is what i just found out from your questions.

Of course those things you mentioned are things that gives lift to bitcoin to gain this massive attention.
 
Well i can't sense any contradiction here it all depends on your understanding and between no body stops you from not using it as it was created to be p2p. People finds more valuable purpose from it's original purpose which they noticed trading also gives additional profits to it. At this point would you say you won't trade since it was only meant for p2p?
No, because if you are that good in trading I believe you would also ventured into trading or possibly you can decides to buy and hold to utilized the efficacy of bitcoin.

Yes a good point of view indeed sir,

I would like to emphasize, does btc needs to increase in price? For adoption or gaining more traders?

In my opinion more people are trading then using bitcoin, which contradicts that it got adoption as a payment system.

Anyways, just my 2 cents.

Tetaeridanus✨

Have you also thought if bitcoin was only limited to its p2p do you think bitcoin would have been this popular without the helps of the centralized exchange and investors who turned it as a store of value? Yes lemme just say from my own point of view, we can say that the reason for bitcoin to get this exposure was a results of centralized exchange and, when bitcoin remains decentralized as its no doubt that there could be growth but would be limited to some certain point which people might not find it that interesting to ventured into because no price changes and no increments, they way its used now is the way its better understood by its users and this is stirring up a massive adoption.

Probably got his mind twisted , its difficult knowing how much bitcoin evolution going for now from simple cryptocurrency to digital asset  nfts and such , ita probably will still going forward from now on

Hello thanks for your answer, I will reply to you because you directly asked me questions. I am new to the forum and quoting so I will answer below.

- It seems like I can't or no one can interview him . I am talking about the foundation narrative, satoshi's cryptopunk era vision and whitepaper language. Which basically supports my vision of satoshi's, which he created bitcoin for peer-to-peer use and he uses the word centralised authorities many many times in negative format. I believe exchanges are not only centralised authorities but they have an IMPACT on the Bitcoin markets which can affect buyers and sellers. ( 1 btc = 1 btc yes I also believe that hence central authorities have an impact on people's actions).
- I am not critisizing people, the people I critisized are the people who don't know the fundementals of bitcoin or even what blockchain means but got in after the 2020 where the markets was in a bullrun; and giving trading advices like btc next year 200.000 or 300.000. Don't look at my register date I am in crypto since 8 years. I used BTC as a currency to gamble in 2015-16s. Did I store any? No. Am I sad, you can imagine as yes. So you can understand my opinion this way. I always looked at it as a currency. Yeah I was wrong, and I accept it. However the thread is about your opinions, which I am interested of.
-Are you talking about the fork of BCH? If so I don't believe that guy is the satoshi even not one bit.

I thank you for your questions,

Tetaeridanus✨

At first glance, it is impossible to say with certainty what Satoshi would think of the current development of the cryptocurrency.  Furthermore, Satoshi passed away in 2010 and has not revealed his identity or his personal opinion on the future of Bitcoin.  However, in my opinion, Satoshi was probably pleased to see that Bitcoin had achieved a certain level of global acceptance and withstood various challenges over the years.  Not everything is rosy, but honestly it's something I would be absolutely happy about.  And it's worth noting that Satoshi may also have had concerns about excessive speculation, price volatility, and centralization in the cryptocurrency space.

We can say that this is not what Satoshi has imagined but I also don’t think he’ll be sad nor regret his invention. Bitcoin is still paving its way to its global adoption, maybe not as a peer to peer currency at the moment but I guess in the long run, people will certainly consider and eventually use it as a good digital currency. For now, let’s just be contented seeing bitcoin as a store of value, soon it will be a peer to peer currency just like Satoshi has envisioned.

Well formation of altcoins with ICO's pretty much changed the game and turned BTC in to a store of value in my thoughts tbh. There are faster networks such as XRP and XLM, there are more private bridges such as Dash and XMR; and there is a network (ERC) where people can implement their own tokens and release them. So the game has shifted a long way such as previous poster said; Bitcoin has taken life of it's own and created an ecosystem; this in my thoughts what deviated the way of BTC as a peer-to-peer digital currency to a store of value. I am not even talking about forks that BTC had (BCH LTC) etc...

Thanks for everyone's replies. This has been a seriously informative thread, nice to see many people's opinions; I wish many more disccusion with you guys!


Tetaeridanus✨

I adore serious questions to which I immediately give equally serious answers.

I think only he himself can tell about his vision. Over time, this vision of his could seriously change. Maybe it would be better to ask him himself?

What is the connection between "cex or dex can manipulate the price" and "Satoshi's P2P vision"? How does "cex or dex" prevent you from taking p2p? What prevents you from buying and selling anything for bitcoin, and not at the rate of dollar? And then, you immediately start not caring about price pumps and dumps. 1 BTC = ~26.500$ 1 BTC and then everything falls into place.

Before criticize others, look at yourself. How do you use bitcoin? Start changing the world with yourself first, not with others.

But did satoshi just forget to tell us about this? But I think that he himself didn’t really know what bitcoin would eventually become, how it would change and how exactly people would use it.

There was already one, with his true Satoshi Vision Bitcoin. Remember this one? Maybe this is enough already?

I don't want to justify all the ICOs and the scams that followed that trend but unfortunately this is how it works pretty much in every field: when someone comes up with an idea there always will be other people who will try to make something similar just to make some quick money, if there is an opportunity to make money people will jump on it. History will always repeat itself.