What possible reasons made Satoshi bow out from the crypto scene??

jaberwock

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To me i feel the reason Satoshi bowed out of crypto as Satoshi is to keep Bitcoin completely decentralised and the identity of the creator forever anonymous. But Satoshi must have found his way back to the crypto space with a different identity or maintaining the name he/she or the group was known by before venturing into creating Bitcoin. For me i staying anonymous was and is the reason for the backout as Satoshi

Hhmm, interesting but it seems you are right. We really can feel that btc is decentralized when we know that no one controls it, I mean the owner. He or they are out of the scene. Unlike to a common crypto which their devs or creators are active. We think they are centralized or semi decentralize only.

I don't think satoshi bow out due to security reasons. Why will be arrested when he only made a great invention which are helpful for all? And if they will arrest him then why won't those authorities arrest other crypto creators first? Since their identities are already exposed on public but that didn't happen except only for those who commit a scam.

gantez

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It is also like the story of Jesus Christ coming to the earth to be crucified for the word of God to come to all houses. Satoshi had bitcoin to be decentralized and he won't have to claim ownership because that will change the design of bitcoin as a decentralized asset and financial payment instrument. He needed to leave the seen and he did that at the right time when it was in formative period but with white paper .

adaseb

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The thing is. How do we know he never sold?

He mined most of 2009 and didn’t sell those coins but he could of also mined in 2010 when GPUs were coming up and made a few blocks and he could be selling his coins in reverse from date they were acquired.

It’s difficult to prove because there were hundreds of people mining then so it’s hard to find out if they were his coins.

Realgogo

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Quote from: GreatArkansas on October 24, 2022, 06:25:37 PM

Quote from: Realgogo on October 23, 2022, 05:50:16 PM

What possible reasons made Satoshi bow out from the crypto scene?
(....)

For me, something happened to him or something happened to all of his/her Bitcoin so that's why Satoshi Nakamoto can't prove his/her identity anymore. Another thing is maybe Satoshi Nakamoto is already dead because there were no transactions at all related to Satoshi Nakamoto's bitcoin wallet.
Because for me, if you are really Satoshi Nakamoto, it is really difficult to be silent if you really have the evidence.

You got a point how can someone do something this great and be silent? It's mysterious!!

GreatArkansas

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Quote from: Realgogo on October 23, 2022, 05:50:16 PM

What possible reasons made Satoshi bow out from the crypto scene?
(....)

For me, something happened to him or something happened to all of his/her Bitcoin so that's why Satoshi Nakamoto can't prove his/her identity anymore. Another thing is maybe Satoshi Nakamoto is already dead because there were no transactions at all related to Satoshi Nakamoto's bitcoin wallet.
Because for me, if you are really Satoshi Nakamoto, it is really difficult to be silent if you really have the evidence.

Silberman

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Quote from: Realgogo on October 23, 2022, 05:50:16 PM

What possible reasons made Satoshi bow out from the crypto scene?

Satoshi being an individual or a group is still uncertain whether he is a male or female none can tell. But at least there was a kind of communication with the public before Satoshi bowed out from the crypto scene, this action added to the identity controversy that was already existing. Now the question is what might have been the possible reasons for bowing out?

Some say i was for security reasons as Government might track him down as seen today how cryptos are being opposed.

What reason do you think might have really caused his action?

There are several reasons which could explain why he did what he did, but it is obvious that his security is probably the number one reason for his disappearance, Satoshi knew before he even released bitcoin that he will need to protect his anonymity, otherwise he would not have gone thought all of those steps to make himself anonymous online, besides we now that he was not being paranoid, governments were in fact looking for him and they are probably still doing so.

avikz

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Bitcoin is a revolutionary innovation. Right now we all are enjoying the benefits of bitcoin but that wasn't the case back 2009. I am sure Mr. Satoshi wanted to spend the rest of his life peacefully. That is his main reason for disappearing from the scene I believe.

Even if today his real identity is confirmed, many enforcement agencies will start hounding him. I strongly believe this Craig Wright is a set up game by IS government to lure Satoshi out which failed miserably.

virasisog

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Quote from: Realgogo on October 24, 2022, 05:16:21 AM

Quote from: cryptoaddictchie on October 24, 2022, 02:56:13 AM

Possibly protection to himself. He already knew that series of development and progress of btc will be a threat level to some business and government. If you are the founder then likely you are at risk to some of these people. Also theres an cia scene that could result to a more complicated results connecting him. For me its a good riddance for him to stay hidden and totally anonymous for his safety too. Though everyone are eagerly wanted to meet and know him.

But we haven't heard any form of harassments from any agency toward those that have contributed to the growth of cryptos by developing other cryptocurrencies.

He's aware of the possibility that the government would track and attack him since he's the founder of the currency and they know that he owns lots of Bitcoin. His escape and hidden identity is actually very wise move because he could live peacefully without being bothered by anyone. Bitcoin's reputation and trust rate wouldn't be affected as well. That's just my view but he is the only one who knows his reason for bowing out of crypto what he did was a brilliant exit. His anonymity has a good impact and benefits Bitcoin as well as his life.

Realgogo

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Quote from: cryptoaddictchie on October 24, 2022, 02:56:13 AM

Possibly protection to himself. He already knew that series of development and progress of btc will be a threat level to some business and government. If you are the founder then likely you are at risk to some of these people. Also theres an cia scene that could result to a more complicated results connecting him. For me its a good riddance for him to stay hidden and totally anonymous for his safety too. Though everyone are eagerly wanted to meet and know him.

But we haven't heard any form of harassments from any agency toward those that have contributed to the growth of cryptos by developing other crypto currencies.

Realgogo

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Quote from: Flexystar on October 24, 2022, 04:15:40 AM

(Meanwhile some secrete government reading my reply and laughing at this. It was us but we covered it up with Satoshi. Lolz Wink

)

funny but it's possible, what a vague mystery.

blockman

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Quote from: Realgogo on October 23, 2022, 05:50:16 PM

What reason do you think might have really caused his action?

No matter what we think and guess for his/her/their reasons for getting out, nobody will be able to verify that. So, we can tell things and speculate what could be the closest reasons for getting out. One of it is being dead and that's the very first thing that we can think of when he's no longer visible.
But as said, no one will ever know the truth about it. This is going to be remain one of the mysteries that we will never know even in the future because of too many people claiming they are satoshi without even proving it.

Flexystar

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You guys have that question and me thinking all the time how did Mr/Mrs/Miss Satoshi vanished just like that? I mean think about it for a minute. Someone come in, work hard on big code write ups and algorithms, create technology that no one ever imagined and vanished just like that in a thin air.

How? There must be few people who worked with them right? Few colleagues, may be friends or relatives who at least sometime talked about it over coffee or something?

How is it possible that there is no trace about it at all?

(Meanwhile some secrete government reading my reply and laughing at this. It was us but we covered it up with Satoshi. Lolz Wink

)

Minecache

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Quote from: Realgogo on October 23, 2022, 05:50:16 PM

What possible reasons made Satoshi bow out from the crypto scene?

Satoshi being an individual or a group is still uncertain whether he is a male or female none can tell. But at least there was a kind of communication with the public before Satoshi bowed out from the crypto scene, this action added to the identity controversy that was already existing. Now the question is what might have been the possible reasons for bowing out?

Some say i was for security reasons as Government might track him down as seen today how cryptos are being opposed.

What reason do you think might have really caused his action?

The purpose of bitcoin is to create a decentralized monetary system that is not controlled by anyone including the government, this alone is enough to understand bitcoin as a threat to the banking system. In order for everything to be perfect and not to have any problems later, satoshi chose to hide forever. Maybe he foresaw this and can now see bitcoins getting bigger and bigger and obviously a lot of governments don't like this, if he wasn't anonymous it would be big trouble for him now. That was my thought.

Eternad

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Probably he wants predict that Bitcoin price will pump soon he manage to have a secret wallet that the public didn't know that he is the owner and use his main wallet as decoy so that authority will track that public wallet while he is enjoying now all of his Bitcoin on his secret wallet free from tax since no one knows his identity.

Security and Privacy are the closest factor that we can assume for his reason to bow out on crypto scene because you can not enjoy your life if he was known to the public as creator since he wants a privacy at the first place when he invented Bitcoin.

cryptoaddictchie

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Possibly protection to himself. He already knew that series of development and progress of btc will be a threat level to some business and government. If you are the founder then likely you are at risk to some of these people. Also theres an cia scene that could result to a more complicated results connecting him. For me its a good riddance for him to stay hidden and totally anonymous for his safety too. Though everyone are eagerly wanted to meet and know him.

noorman0

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If you look at the visible effect on projects with known founders, slowly their coins turn into centralization after several "upgrades" and "safeguards". Satoshi does not want bitcoin to depend on it and this will guarantee complete decentralization.

Regardless of the reason, satoshi's decision was the right one to leave the project during the early development phase. I can't imagine satoshi leaving the project after bitcoin has reached the high level of confidence it is today.

Charles-Tim

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Quote from: Realgogo on October 23, 2022, 05:50:16 PM

What reason do you think might have really caused his action?

Only Satoshi will be able to give an accurate and exact reason why he left the community and remain unknown. It could be because he thought what he wanted to create has been created and no point of staying again as he wanted to make bitcoin to be for the public and not centralized to a certain degree. Because Satoshi remain anonymous is the reason some other people believe bitcoin is better and by that way, we can assume that anyone that contribute to bitcoin progress are also Satoshi.

Mr. Magkaisa

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Quote from: Realgogo on October 23, 2022, 05:50:16 PM

What possible reasons made Satoshi bow out from the crypto scene?

Satoshi being an individual or a group is still uncertain whether he is a male or female none can tell. But at least there was a kind of communication with the public before Satoshi bowed out from the crypto scene, this action added to the identity controversy that was already existing. Now the question is what might have been the possible reasons for bowing out?

Some say i was for security reasons as Government might track him down as seen today how cryptos are being opposed.

What reason do you think might have really caused his action?

- In the 12 years of bitcoin's existence, no one knows what was the reason why Satoshi Nakamoto created Bitcoin. Everything is just speculation. And there are even times when they have called Satoshi Nakamoto but it was not proven in the end either. Anyway, despite everything, the majority accepted that what Nakamoto did was a big help in general in terms of Financial solutions around the world.

And we have seen the impact it has had in different parts of the world, most of the countries have even accepted and made this 2nd option online payment in their business companies, apart from that it is not it is undeniable that it also helps the country's economy.

mk4

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2 likely reasons come to mind:

1. Satoshi left the scene because Satoshi thinks that there are enough contributors for the Bitcoin project to thrive effectively in a decentralized manner.

2. Satoshi bailed out to decrease the risks of Satoshi getting identified one way or another, because Bitcoin was starting to gain popularity due to WikiLeaks accepting bitcoin and due to the Gavin Andresen CIA interview.

adaseb

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From what I can remember. He disappeared when someone who was into the Bitcoin scene at the time went to the fbi for an interview. After that he quickly disappeared. Why? Who knows.

He has lots of BTC that he never sold. No idea if it’s lost or he is waiting to donate it somewhere or sell it at a higher price.

Biggest mystery ever is his real identity.

bittraffic

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Perhaps to solidify the trust in Bitcoin. While he disappears he also didn't sell anything from his genesis wallet.

Satoshi is also aware that creating a new currency that no one can control threatens the Dollar. Muammar Gaddafi paid in full when he tried to move away from Petrodollar. If a powerful man like Gaddafi can be stripped of his position to death because of it, Satoshi is no match if his identity is revealed.

Nwada001

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I believe Satoshi's reason is what's keeping bitcoin and the entire crypto going up till now.
Had it been the creator's identity revealed, or in one way or another they know the people behind it, I believe we won't have gotten to this level that we are in the crypto space. Since Government has been looking for means to control bitcoin, all they could have done is go after the entity behind the technology and it will be a done deal.

jackg

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https://bit.ly/387FXHi lightning theory

There's a good chance they didn't want to pass too much influence on bitcoin or that they expected bitcoin to be a prototype that lead on to further chains and perhaps extra features to drive usability (such as smart contracts or block intervals).

They might have considered themselves to be at risk too if they stayed in public scope or to be overwhelmed by enquiries for commercial or education related activities.

They might have found something else to focus on too, there's probably a lot of people that start and run projects for a few years and then move on from them once it looks like there's a strong enough team behind it.

sheenshane

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He/she (or they) has a brilliant idea, and all his plan was successfully fulfilled that everything listed on the Bitcoin whitepaper. As you can read the whitepaper title it said, (Bitcoin: A Peer-to-Peer Electronic Cash System) which is clearly what it means, it's an alternative to fiat that no one will control or a third party which is centralized organizations. For sure it's financial freedom or privacy.
But people now start storing the value of Bitcoin or hoarding it, not using it as a payment system.

But hey, this isn't an appropriate board for this you can move this on the Bitcoin discussion board, scroll down below, and hit the "move topic".

Realgogo

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What possible reasons made Satoshi bow out from the crypto scene?

Satoshi being an individual or a group is still uncertain whether he is a male or female none can tell. But at least there was a kind of communication with the public before Satoshi bowed out from the crypto scene, this action added to the identity controversy that was already existing. Now the question is what might have been the possible reasons for bowing out?

Some say i was for security reasons as Government might track him down as seen today how cryptos are being opposed.

What reason do you think might have really caused his action?

Topic: What possible reasons made Satoshi bow out from the crypto scene?? (Read 258 times)