What if Satoshi is eventually ID by the government

hZti

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I think that Satoshi is known to at least one government in the world. Question is if this government does even care about him, since bitcoin can not easily be stopped at this point. Maybe it will be revealed in the future or maybe he now even works for them or is dead.

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If Satoshi is tracked down and his whereabouts are known, I'm sure Satoshi will be protected by his country because Satoshi is a very genius person and very rarely is there a genius like Satoshi Nakomoto.

Why should the country where Satoshi is located protect him at all? They can force him to do what ever they want easily, since you can easily fabricate a lawsuits against him.

Rockstarguy

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Quote from: _act_ on April 19, 2023, 05:25:27 PM

Quote from: Crypt jnr on April 19, 2023, 05:02:59 PM

If this is true does it mean that the identification of Satoshi as a person or organization will pose a treat to the existence of Bitcoin or otherwise

Bitcoin will still continue to exist, but it will not make any sense if Satoshi is known because its unknown is what bitcoin community like and proud about, that Satoshi does not interfere with anything and that as it is not known, it makes bitcoin to be decentralized and looks natural from the beginning when it was created.

Nothing can stop bitcoin from existing, you are right. It won't make any sense if the identity of Satoshi should be known, Satoshi is aware of this right from when bitcoin was formed. Satoshi identify not known is one of the success of bitcoin becoming well decentralized , people should always take this imagination from their mind because Satoshi will never identify himself to the public as the founder of bitcoin. Let's put our focus on bitcoin and forget about the identify of Satoshi, bitcoin is enough to think about.

Kgdktac

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Quote from: dansus021 on April 25, 2023, 09:52:04 PM

Satoshi of course have an legal ID from the government but people don't really know the person is.

and even tho government really know about satoshi it wont change the bitcoin since now is decentralized and the bitcoin code maintain by the community. if gov really found him it just crazy after all

Regarding the identification of Satoshi Nakamoto, the creator of Bitcoin,

there has been speculation and attempts to uncover their true identity over the years, but so far it remains unknown.

It's unclear how the identification of Satoshi would affect the existence of Bitcoin itself. Even though Satoshi was influential in the creation of Bitcoin, the cryptocurrency(Bitcoin) is now maintained and developed by a decentralized community of developers and users, so, the impact is somewhat unknown.....

btc78

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Quote from: Crypt jnr on April 19, 2023, 05:02:59 PM

A friend of mine was of the opinion that the government cannot put an end to Bitcoin because it unfortunately cannot be traced to a particular person or organization which could be sued for bringing about the currency or Blockchain.
If this is true does it mean that the identification of Satoshi as a person or organization will pose a treat to the existence of Bitcoin or otherwise

Do you really believe that Government still looking for satoshi? and they have no complete Idea of whose behind Bitcoin?
and what if The government is behind this ? actually there are so many hearsay created over the years but still bitcoin is active and running old.
but even if the government ID Satoshi , I think this will continue but of course to favor them(the government)
but the thing is for years , the government is trying to shut this down but as we see, continuous to operate till now.

Outhue

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The mastermind behind Bitcoin knew that Bitcoin will fight against the rules of the government, decentralization must be carried out in a way where you think about all the possibilities that the government can use to get to you.

This was planned out before Bitcoin was launched, he is a wise man who saw it all coming, he was well prepared, that's why he is the Ghost, I doubt that his real name is even Satoshi Nakamoto, that's Japanese name right? Don't worry about his identity, it's going to the grave with Nakamoto.

For the fact that we have seen few imposters in the past years, fake Satoshis claiming they are the real one, it means that anyone can pretend to be the rea Satoshi Nakamoto, this makes it more harder to tell what's real and what's not, I kinda like this because the confusion alone is enough to make the investigation worthless.

n0ne

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Surely this will have threat upon the person or the organisation. The goodness revolves around the world just because the identity isn't known. If the identity is known governments might've taken control over the network through some means. If the network innovator is identified, once after him the power could automatically go into the hands of his heir. So, the control continues and the decentralised functioning completely gets disturbed. Maybe if the person or the organization have got revealed, maybe the bitcoin might've not succeeded. Rather than thinking about the person or organisation impact it is good to spread the good about bitcoin.

worle1bm

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Your friend also need to know that bitcoin transactions cannot be traced when we use mixing services otherwise you can have the record of each transaction on the blockchain and it's not completely anonymous.Secondly about revealing the identity of Satoshi then it's not possible because so many years have passed and we all have developed so many theories about it along with many faketoshis coming up but nothing has happened with bitcoin so why are you concerned now? The situation is same and governments won't be able to stop it rather regulate it to take more benefits out from btc.

nullama

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Funny, nothing will happen to Bitcoin, I believe. How long has Bitcoin operated without Satoshis, do you remember? In fact, Bitcoin is still good.
So even if Satoshi is caught, threatened, or killed, Bitcoin will still run.

Agreed.

I think it might cause some kind of temporal disturbance, but quickly it will be forgotten.

And the thing is that Bitcoin doesn't need a leader. It hasn't needed one in more than a decade, so I'm sure it will be fine.

YUriy1991

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For a while the identity of the creator of Bitcoin remains a mystery, the cryptocurrency has developed into a decentralized network that is beyond the control of any entity or individual. However, if the government takes legal action against Satoshi, it could potentially impact the perception and adoption of Bitcoin by the public and regulatory bodies. On the other hand, in my opinion, it has no impact and poses a direct threat to the existence of Bitcoin.

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Quote from: Crypt jnr on April 19, 2023, 05:02:59 PM

A friend of mine was of the opinion that the government cannot put an end to Bitcoin because it unfortunately cannot be traced to a particular person or organization which could be sued for bringing about the currency or Blockchain.
If this is true does it mean that the identification of Satoshi as a person or organization will pose a treat to the existence of Bitcoin or otherwise

It would had pose a threat if satoshi was involved as the face of Bitcoin from the very beginning but since he didn't have anything to do with the adoption of Bitcoin like working as the CEO of the company as we have with most altcoins, then he won't pose as a threat.

The market might just react negatively if his identify get exposed but soon the market will realized his presence has no effect to the growth of the project then the market will recover. Bitcoin has grown beyond one person having control over it, it's a community project.

The death of satoshi, doesn't end the use of Bitcoin unlike with other altcoins that immediately something was to happen to the founder or CEO of the company, price would start dumping since the future of the project is now an uncertainty but with Bitcoin it isn't so.

Wapfika

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Quote from: nullama on April 23, 2023, 07:47:18 PM

I would be curious to know what would he be charged with?

Clearly, Tax Evasion will charge against him especially if he is residing on US. After Bitcoin regulated on certain country, Residents should pay their tax annually. Satoshi Bitcoin is sitting on his wallet for a long time and surely every government watch his wallet carefully. His/her Bitcoin might be seized in case his ID verified. It’s absurd that he is not watching Bitcoin and knows how much money sitting on his wallet right now.

But this event is not enough to take down Bitcoin because it’s decentralized and controlled by the Bitcoin community. His holdings is surely huge but Bitcoin is PoW and not PoS which means his holdings doesn’t matter at all on blockchain functionality. Probably it will only reflect on the price.

dansus021

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Satoshi of course have an legal ID from the government but people don't really know the person is.

and even tho government really know about satoshi it wont change the bitcoin since now is decentralized and the bitcoin code maintain by the community. if gov really found him it just crazy after all

CryptoHeadlineNews

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Quote from: Crypt jnr on April 19, 2023, 05:02:59 PM

A friend of mine was of the opinion that the government cannot put an end to Bitcoin because it unfortunately cannot be traced to a particular person or organization which could be sued for bringing about the currency or Blockchain.
If this is true does it mean that the identification of Satoshi as a person or organization will pose a treat to the existence of Bitcoin or otherwise

Yes, that's exactly what would have happened to Satoshi Nakamoto only if had he or they made themselves known to the public as the official creator of Bitcoin. Bitcoin wouldn't have had this less control by government if they had known who Satoshi is, because just as your friend earlier said, he should have been sued to court or threaten long time ago immediately government noticed people now prefer depositing huge funds into Bitcoin rather than fiat where they have total control over the people's fund.

bluebit25

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If the announcement of Satoshi's identity happens at an unexpected time, it could cause drastic fluctuations in the price of Bitcoin and the cryptocurrency market in general. But the reality is that people have been trying to speculate about it for years, and it hasn't worked out yet.
And in fact what I am seeing is that the government is more and more accepting of blockchain or bitcoin, so it makes no sense to speculate on negative situations for me, let's live more optimistic and positive.

vv181

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Quote from: fullhdpixel on April 23, 2023, 12:21:42 PM

Quote from: vv181 on April 20, 2023, 08:52:22 AM

No, Bitcoin development processes and ecosystem does not reliant upon hit creators or initiators. Supposing Satoshi identification know, no anyone can do anything with Bitcoin unless the community itself that gathers a consensus. In another hand, For Satoshi themselves, it might pose a threat or risk, whatever it is.

Bitcoin was built and designed to prevent a centralized entity from easily and effectively controlling its networks, not even Satoshi can do anything directly. Bitcoin communities are also strong enough not to be easily affected by any external factor that might harm Bitcoin.

Of course it does. Satoshi creates it so he is also the one that can destroy it. In other projects, they are dying because they are not being updated anymore. There are some who have been updated but it only messes up the project which results later on for the project to die.

Other people can't do anything with Bitcoin because it's not theirs and they don't know some things as Satoshi did. Maybe Satoshi is scared and what if his thoughts are true that someone will attack him if he showed up? That could be the reason why he hid himself from the public. The hunt for Satoshi is not new and up until now they still can't identify the guy so there is no need to worry about this matter.

You are wrong on so many levels, I can't believe such kind of statement came from account such as yours.

Satoshi does not control Bitcoin, hence Satoshi can't destroy it. Other shitcoin/projects are not relevant here. Bitcoin development steps are going through rigorous processes, certainly, it will minimize errors. Bitcoin is fully transparent, its source code, the development process, the developer, anything you can name. There isn't any better that Satoshi hid that the communities are not aware of, everything can be understood.

The problem is, why did you believe such kind of idea is applicable to Bitcoin? That is nonsense.

nullama

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Quote from: goldkingcoiner on April 23, 2023, 05:26:24 PM

~snip~
If Satoshi is ever doxxed or found by the government, then I believe that the government (egged on by the banks) will try to punish him out of revenge. Which will be very sad to watch happen but I am certain the Bitcoin community will show their discontent and try everything that they can in order to keep Satoshi out of harms way. But no matter who Satoshi is or what the government tries to do to him, Bitcoin is out of his hands and our of his control. So they cannot attack or manipulate Bitcoin by going through Satoshi. Of that I am 100 percent certain. Wink

I would be curious to know what would he be charged with?

Also, there are many other people that have created altcoins, and are still free, and without any consequences, because there's nothing wrong in creating a cryptocurrency.

As long as there's nothing illegal or dodgy about it, it should be fine, and Bitcoin is the most transparent thing ever.

I don't think Satoshi would be in danger legally. But who knows what could happen behind the scenes.

goldkingcoiner

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Quote from: Crypt jnr on April 19, 2023, 05:02:59 PM

A friend of mine was of the opinion that the government cannot put an end to Bitcoin because it unfortunately cannot be traced to a particular person or organization which could be sued for bringing about the currency or Blockchain.
If this is true does it mean that the identification of Satoshi as a person or organization will pose a treat to the existence of Bitcoin or otherwise

If Satoshi is ever doxxed or found by the government, then I believe that the government (egged on by the banks) will try to punish him out of revenge. Which will be very sad to watch happen but I am certain the Bitcoin community will show their discontent and try everything that they can in order to keep Satoshi out of harms way. But no matter who Satoshi is or what the government tries to do to him, Bitcoin is out of his hands and our of his control. So they cannot attack or manipulate Bitcoin by going through Satoshi. Of that I am 100 percent certain. Wink

BitDane

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Quote from: Ale88 on April 22, 2023, 12:20:13 AM

Discovering Satoshi's identity could potentially be a problem for the crypto ecosystem because it would mean that, if alive, there is a person (or a group) owning a huge amount of bitcoins that could potentially kill its value even though it would be extremely stupid to sell such huge amount all together. For me one of the most important things about bitcoin is of course its decentralization, and knowing that someone still alive owns 1 mln coins would be a huge problem, I don't think I would trust the system anymore.

Satoshi had long disconnected himself to the cryptocurrency industry. The name is known because he created the first decentralized cryptocurrency but he was been missing in action for more than a decade. I do not think that he has that influence on the cryptocurrency anymore nor give any huge impact on the industry if he is identified.

Bitcoin had been developing without Satoshi and obviously, the community and developer won't be shaken if one day Satoshi is identified, it will be a huge news yes but the Bitcoin economy had been long moved without Satoshi so I don't see any huge impact if in the future, Satoshi is identified and arrested due to his shady activities ( if ever there is any).

In case Satoshi move his coins and sell it on the market, it would be a good thing because the sold BTC will be spread out to different hands making the economy stronger.

kryptqnick

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Quote from: Crypt jnr on April 19, 2023, 05:02:59 PM

A friend of mine was of the opinion that the government cannot put an end to Bitcoin because it unfortunately cannot be traced to a particular person or organization which could be sued for bringing about the currency or Blockchain.
If this is true does it mean that the identification of Satoshi as a person or organization will pose a treat to the existence of Bitcoin or otherwise

I don't think Bitcoin will be in trouble, but Satoshi might be expected to pay huge taxes (but that depends on a country) and there will probably be other lawsuits, not to mention being a big target for robbers and paparazzi. That's why I think Satoshi made a wise decision to remain anonymous, and I hope Satoshi is alive and well, enjoying the fame for his creation from a distance and being away from prying eyes.

Weezenhofnar

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The decentralized nature of Bitcoin means that it is not reliant on any one individual or entity, and its network and technology would continue to operate regardless of who Satoshi Nakamoto is.

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