Topic: What if Satoshi is eventually ID by the government - page 2. (Read 431 times)
We don't know the exact Satoshi I'd card for now,only the people who knw about the sathoshi was not disclose who is the real person.My opinion is the sathoshi should be stay un identify by the government, So we can earn some money from tbe forum and from the crypto trading.If the real sathoshi found, their will possibility of bitcoin had a route and some international government try to destroy it.With my knowledge, you should secure the wallet because can be hacked by the unknown resources,Since you are new to the forum. Most of the forum member will like to know the Satoshi,but still it was the hidden one.
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 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
Your friend is wrong because it's not that they can't stop Bitcoin just because it can't be traced back to an identity, but they simply can't do it because Bitcoin is blameless otherwise we'd be talking about cars or pets in here.
I don't see how this could pose a threat to bitcoin. The man clearly separated himself from the cryptocurrency so whatever he does, it's not going to be affiliated with bitcoin anymore. Threat to his life or their families? I guess so too, of course with their identity being outed there will be multiple people that will be interested with the stash of bitcoins that they hold, and granted this could mean death threats, exploitation, and whatever criminal activity you could throw at the ballpark.
So if the government outs Satoshi, which I don't think they will or they can, but if they do, it will be one of the worst things they can commit against the law to promote Data Privacy, may even function as a collapse of the government too if things snowball fast and aggressively.
So if the government outs Satoshi, which I don't think they will or they can, but if they do, it will be one of the worst things they can commit against the law to promote Data Privacy, may even function as a collapse of the government too if things snowball fast and aggressively.
In terms of the identification of Satoshi, it is unclear whether this would pose a threat to the existence of Bitcoin. Satoshi has not been involved in the development of Bitcoin since 2010 and has left the project in the hands of the community. Therefore, it is unlikely that the identification of Satoshi would have a significant impact on the functioning of the Bitcoin network. In summary, while it is true that the decentralized nature of Bitcoin makes it difficult for governments to shut it down, it is not impossible to trace illegal activity on the blockchain.
You know the truth is that until now no one knows if Satoshi Nakamoto is human or not, others believe that he is a person who can only disguise himself, or it can also be just his imagination, or an organization like that, until now it remains still really anonymous.
And then all the governments around the world also know that they can't control bitcoin because of the blockchain that it has which is the reason why they can't control it at all. This is the truth that is hard to accept on the part of the U.S
And then all the governments around the world also know that they can't control bitcoin because of the blockchain that it has which is the reason why they can't control it at all. This is the truth that is hard to accept on the part of the U.S
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.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.
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.
~snip~
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.
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.
Back in the day anyone could simply CPU mine and get 50 BTC at every block.
It was common to have thousands of Bitcoins. They were worthless basically.
I don't think it would change anything if you know that a single person has a million BTC. In the world there are people with massive amounts of wealth and the world continues to operate normally.
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
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. 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 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
No, that is not correct. While it's true that Bitcoin is decentralized and difficult to shut down completely, it's not because it can't be traced to a single person or organization. It's because the network is made up of many nodes around the world, and it would be nearly impossible to shut them all down. Satoshi doesn't have any special control over the network. Even if Satoshi was identified, there's nothing that anyone could do to change the Bitcoin network unless the community as a whole (or at least the majority of miners and mining pools) agrees to it. And the community is strong enough to resist any external pressures. Bitcoin was designed to be decentralized and resistant to control by any single entity, and it has proven to be just that.
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.
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.
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
Have you asked your friend the same question? What is his answer?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 believe what he's trying to say is quite different from what you understood when you say "if satoshi is identified as an organization". Sure, the government can sue him for whatever crime he commits, but he is disconnected from the network as an individual. Unlike other companies that run or control their own node, or do their business in which the value from their native tokens comes, putting satoshi in jail serves no purpose other than trying to scare the market.
Of course, they can expand the definition of criminal to miners, and so on, but they can simply move from one country to another, or even stay anonymous if needed. Not to mention the legal ground can be challenged by anyone, especially if the government starts being inconsistent with the law itself. I believe doing such things is also a waste of time and money for the government. They'd profit more by simply regulating the market and earning taxes from trades.
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 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
Identification of Satoshi will not pose threat to bitcoin ecosystem. It's decentralised for a reason. Bitcoin is not controlled by any central authority so the ecosystem cannot be destroyed by a government unless a global consensus is reached.
Identification of Satoshi will become a threat to his own life. I am sure Satoshi understands that very well and that's why he has successfully stayed out of the praying eyes of enforcement agencies.
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
With the nature of bitcoin that we have is decentralization which makes people interested in bitcoin, of course when Shatosi is found it is possible that trust will be lost in bitcoin because Satoshi knows how to design bitcoin and the mechanism for making it and what might be even crazier is he will be intervened and punished intimidation by the world let alone bitcoin haters who rule the financial system surely they will not stay silent and let Satoshi roam their yards, that is the possibility that will happen if Satoshi is found.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
but that's impossible if he/they (Satoshi was found) because to this day we are still questioning whether it was a group or not and other things there are still many questions about his identity.
It will not pose a threat to the current Bitcoin existence, but it will cause a panic around the market because many people think Bitcoin is no longer decentralized. Such thinking is wrong because regardless Satoshi is caughted or not, it will not ruin the decentralization of Bitcoin. Even Satoshi want to change the protocol and the consensus, old Bitcoin generations will not accept it if Satoshi's proposal will make Bitcoin become less decentralized.
Bitcoin grows because of community and trust. But I hope Satoshi remains an Anonymous. I feared that if he appeared his safety was threatened. While it's not about the life or death of Bitcoin, as the community stops believing and the state imposes severe penalties on every user, maybe it can happen. But all this time its development has not led to bad things. Although some countries have regulated, it is one proof that they can only regulate from outside.
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 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 is managed by the whole community and not Satoshi, who controls it, so if he is found and arrested by the government, then bitcoins will be affected, but they still cannot stop or get rid of bitcoins. I believe he decided to remain anonymous for his own safety and has nothing to do with bitcoin, as no one manages it.
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
Bitcoin is too big to fall, at this point is is slowly growing and for sure next year when we had this bull run, maybe are going to be joining the bandwagon. As far as the identify of Satoshi, I'm not sure if government are willing to pursue it, might take some huge budget on their side that is not going to be worth in the end. Besides, Satoshi chooses to be hidden, he did a lot of misdirection that even today, we don't know if he is still exist, dead or a group of individuals creating Bitcoin. So let's put that argument to rest, Satoshi can't be identified. 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
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
No, your friend is right.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 network can not be shut down by arresting a single person, shutting down a single mining farm, cracking down mining industry in a single nation. Bitcoin network is very decentralized and its hash rate comes from many countries globally. So no single law enforcement (even it is right or wrong) at a single local area can pose a threat to shut down the entire Bitcoin network. It will never happen.
Bitcoin network can not be shut down if Satoshi Nakamoto is arrested as Satoshi does not have a nuke button to nuke the Bitcoin network.
It will definitely pose a threat not only to bitcoin existence but to his own life or their lives. When satoshi chose anonymity it was definitely for decentralization and also to stay away from government troubles. With the way the government is trying by all means to ban bitcoin I think they would have either place satoshi on prosecutions or would have offered him somewhat of a deal to regulate bitcoin.
Also there will be many bitcoiners that would doubt the decentralization of bitcoin because some will feel that he might compromise the whole system someday.
Also there will be many bitcoiners that would doubt the decentralization of bitcoin because some will feel that he might compromise the whole system someday.
Bitcoin is open source, I wonder if Satoshi can tweak and modify bitcoins? I don't think he'll make it, even though he's the one who made it. If Satoshi gets caught, he will probably be in danger, bitcoin will be negatively affected by that news, but it won't be modifiable, or someone will control it if Satoshi gets caught.
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
Bitcoin is decentralized, this means that there's no single leader, organization, or person that is ultimately responsible for it.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
You can put in prison or kill all the people that were involved in Bitcoin in 2009 and Bitcoin will continue to issue bitcoins with each new found block in 10 minutes on average.
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