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.

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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.

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.

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Quote from: dansus021 on April 25, 2023, 08:52:04 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, 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

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, 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

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.

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Quote from: nullama on April 23, 2023, 06:47:18 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, 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

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, 11:21:42 AM

Quote from: vv181 on April 20, 2023, 07:52:22 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, 04:26:24 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.

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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

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 21, 2023, 11:20:13 PM

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.

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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

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.

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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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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.

mendace

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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

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.

panganib999

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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.

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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.

bettercrypto

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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

fullhdpixel

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Quote from: vv181 on April 20, 2023, 07:52:22 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.

nullama

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Quote from: Ale88 on April 21, 2023, 11:20:13 PM

~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.

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.

Ale88

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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

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.

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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

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.

vv181

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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.

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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

Have you asked your friend the same question? What is his answer?

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.

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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

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.

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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

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.
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.

Helena Yu

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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.

Luzin

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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.

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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

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.

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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

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.

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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

No, your friend is right.

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.

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Quote from: Zaguru12 on April 19, 2023, 04:13:13 PM

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.

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.

nullama

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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

Bitcoin is decentralized, this means that there's no single leader, organization, or person that is ultimately responsible for it.

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.

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.

_act_

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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 (Read 431 times)