What if Satoshi is eventually ID by the government - page 3.

BitDane

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Quote from: Crypt jnr on April 19, 2023, 04:02:59 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.

I agree that the government cannot put an end to Bitcoin not because of the untraceable person/group of person behind the Bitcoin creation but because Bitcoin is decentralized. If you happen to know about torrents or decentralized file sharing, the government had been trying their best to stop such kind of file sharing, even catching people behind these torrent sites but still failed to put an end to this kind of activity.

Quote from: Crypt jnr on April 19, 2023, 04:02:59 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

I don't think that the identification of Satoshi will pose a treat to the Bitcoin industry. Bitcoin had been independent for years now, and had been booming even after the original creator had hid himself or does not publicly participate in the development of Bitcoin after his disappearance. Even with Satoshi surfacing, I do not think that the authority have the reason to apprehend him because of creating Bitcoin.

Smartvirus

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Quote from: Crypt jnr on April 19, 2023, 04:02:59 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

For the record Satoshi Nakamoto has done a good job in staying anonymous up to the hour that no one can tell if Satoshi Nakamoto is even a human [gender; Male/Female] or a group of like mind developers and what good job they all must have done in ensuring the secrecy of there identity.

Still, i don't think it would even break a nail to the blockchain or crypto innovation should there identities be revealed some day. For the very list, they committed no cream and just created some freewill currency to exist over the web and web alone. Its an idea to help humanity and they should adorn the idea.

dothebeats

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They were 13 years too late, I guess. At this point, bitcoin has become big - so big that it no longer concerns Satoshi anymore, nor his current involvement to this project still that relevant that could potentially stop everything. He's made the right decision to leave everything behind to the community a decade ago, and it grew bigger and bigger until there are a lot of different players doing things independent of one another.

Even if they get Satoshi right now, it will not affect bitcoin negatively in a huge way that makes the whole thing crumble. There will be a lot of negative price movements, but not to the point that it breaks things.

glendall

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there will be a to satoshi threat if his identity is known, I don't know what the government will do with him and for btc itself I think it will still be there
but one thing is impossible if satoshi is that easy to find because so far I can't guess who satoshi actually can be me too

Gallar

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Quote from: Crypt jnr on April 19, 2023, 04:02:59 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

In my personal opinion, the government will definitely be more tolerant and will not punish if Satoshi Nakamoto is found (for example), because Satoshi Nakamoto does not have any faults, even satoshi can be said to be a savior for many people, because it has found bitcoin which is very popular at the time. This. So of course the government will also really appreciate the discovery and knowledge, although for sure, not all governments in all countries will agree and support it, but I'm sure the majority of countries will support it. So in my opinion, if Satoshi Nakamoto is found, it won't have too serious an impact let alone be labeled a criminal by the government.

but in my opinion, what is more feared and must be watched out for is not from the government, but from certain parties who intend to rob or force satoshis for their personal gain. So indeed Satoshi's decision to remain anonymous is the right decision, because if Satoshi had revealed his identity from the beginning, I'm sure the path to bitcoin would have been a little different.

Dr.Bitcoin_Strange

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Bitcoin is king in the entire crypto market and also stands as hope for people investing in cryptocurrency; if Satoshi's identity is exposed, it will be a treat for cryptocurrency. No one knows the future though, but I don't think Satoshi can't be revealed.

qwertyup23

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Quote from: Crypt jnr on April 19, 2023, 04:02:59 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

Well if I were Satoshi, the threat to the BTC would be the least of my concern as everyone would know about my identity. This implies that my safety is now compromised as anyone could actually break into my location and I would definitely receive countless of death threats which could harm my situation.

Maybe this is also the reason on why Satoshi never disclosed himself to the public. Sure, there may be clues gathered by forum users here on how he wrote or composed his messages but we should probably just leave him alone and thank him for giving us this godsent of a technology that made some of us millionaires or even billionaires at some point.

Stalker22

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Quote from: Crypt jnr on April 19, 2023, 04:02:59 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

Well, you are mistaken in thinking that governments are actively trying to shut down Bitcoin. In fact, many governments are exploring ways to regulate and incorporate digital currencies and blockchain technology into their existing financial systems. And to be honest, even if they found out who Satoshi really is, it wouldn't be that big of a deal. Why would they even sue him? After all, Bitcoin is simply a software protocol, and there is no evidence to suggest that Satoshi had any malicious intent or acted illegally.

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Quote from: Crypt jnr on April 19, 2023, 04:02:59 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.

Zaguru12

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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.

Crypt jnr

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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

Topic: What if Satoshi is eventually ID by the government - page 3. (Read 431 times)