Topic: What would Satoshi Do (today) (Read 374 times)

Agree. Because he wrote on BTC WP that he wants BTC to be electronic cash, it makes sense if he probably focuses on digital cash. Bitcoin has developed much as a digital asset, but it is not very significant as a digital cash/currency. Satoshi may try to find a solution to improve the massive adoption of BTC as a digital currency. It is the main goal of BTC, isn't it?

Regarding Satoshi to contribute on Defi protocols, I am sure he will be interested in this aspect too. It is still related to his vision, he wants a decentralized system of digital currency. He should be involved in the new innovation in Defi protocols.

Once after giving the best innovation to the world, Satoshi made himself stay away from the innovation. So, his presence doesnt make any big change in the Satoshi away from the network staying in a hidden manner too a reason why the cryptomarket have grown to this level even when there were no bug promotion for bitcoin.

I think his vision would be still the original vision he had during bitcoin's development. Probably would be happy for bitcoin achievements, growing adoption, but not so satisfied with the centralized path crypto environment is taking. His vision seems to be more at the favour of p2p transactions, every adopter controlling his own coins and being independent from governments and middlemen, while what we see are centralized services growing in number, size and popularity. About the number of altcoins disponible I think he wouldn't bother, since he knows bitcoin is unique and original. Moreover, he seemed to be an enthusiast of freedom, so it's acceptable each person creates their own altcoin, if wished.

That means the development concept of bitcoin is so perfect in its journey, while bear and bull markets will never be separated from bitcoin's journey and that's why bitcoin is called a speculative asset. But actually that's not the point we want to convey, but if we want to protect the money we have and want to make a promising investment in the future, then it is very appropriate for us to choose bitcoin.

Today it is our duty to protect bitcoins on their way, although outwardly there is no need to do this, because now people know the benefits of investing in bitcoins and the most appropriate thanks we can give SN is to keep bitcoins growing and growing, the rest people already really understand what to do with bitcoin in the future.

Satoshi  would have been happy to see what El Salvador country and other countries that adopted Bitcoin are doing in their environment. He would have been happy that Bitcoin still remain the best among other cryptocurrencies which is part of some of the things that is attracting other people to have more interest on Bitcoin, because of what many users have achieved from it.

Satoshi would be happy at first seeing such a serious development that took place in the crypto world and crypto is not just limited to btc but many coins and tokens are following now, and the Defi, NFT and metaverse have really changed the way we used to look at crypto. However, he would not be happy at all seeing that btc is still centralized by not being spread into everyone and only a few hold a very big % of it, this shows that the distribution of btc is yet to become decentralised once it is in hands of almost all the believers. There were days when btc was being given through faucets and various tasks, but now, nobody is doing that so there are a few chances to earn btc, but most of us sell it because of IRL issues.

You can't argue with this. Charles has been telling everyone on his live ama every single time that ADA is decentralized while he has billions of it and then has a staking pool. 

The regulators are trying to bring down crypto that is not made in US, why will Cardano be ignored by the US regulators? But I'm really surprised why Gensler is not attacking ADA, they could just say ADA as Security but why not? I guess it's not yet time but it will be the next fud in 2026 probably.

Satoshi couldn't do anything but probably just accept these altcoins exist and even the person we hailed to be the next Warren Buffet can be a scam.

Centralized coin being sold as decentralized is bad though.

I disagree because bitcoin wasn't the first, there were other projects before bitcoin attempting to create something like it but failed. Bitcoin succeeded after their failure and it is successful because it works as it is supposed to not because it was the "pioneer".

You are confusing limitations with flaws and some of the things you mentions aren't even limitations.
* Bitcoin transactions are the fastest in the world, you are just ignoring the fact that 1 confirmation doesn't mean the same thing in bitcoin and other cryptocurrencies. Some altcoins that are advertised as "fast" require tens of thousands of confirmation (taking weeks) to reach the same level of security as 1 confirmation in bitcoin network. Not to mention that some of them don't have immutable blockchains (eg. ETH and BCH) so they can never be considered safe regardless of how many confirmation your transaction gets.
* Bitcoin does have smart contracts, every single transaction is using it and it is called "scripts". It just doesn't have certain characteristics like "turing completeness" which is a good thing.
* The only valid limitation (not flaw) is the limited block space which is inherited by all blockchain based cryptocurrencies.

I would be fine as long as they are honest about it, but they aren't which makes them fraudulent.

Fingers crossed but so far I only see small innovation in small insignificant altcoins that die because someone is pumping another "top 10" altcoin and people care about making profit more than seeing innovation.

Why don't you find him and ask him?
How can we possibly read Satoshi's mind, when he's gone and missing for years?
Maybe he is against Bitcoin turning into a speculative asset and maybe he is against PoS coins. Who knows?
What are the great things going along ethereum? Being the core platform of all the ICO, NFT, "insert random crypto buzzword" scams that have been stealing people's coins in all those years? Turning into a centralized shitcoin? Ethereum had some good things like smart contracts and Dapps, but it's getting from bad to worse recently.

Indeed. BTC is in a perfect condition already (disregarding the price of course). It's normal for the price to go down sometimes because this is how thing works here in the crypto market. There will be bears, bulls, manipulations and so on. The metaverse and web3 are in a different category.

It's not that they are difficult to understand or satoshi don't understand them but that is not what he intend to do. He only wants for the people to have a currency which is decentralized and that is already achieved. We don't know if satoshi is still alive but if he is then he must be very proud of himself and he is also thankful for us because we support his creations.

If he were known am certain that he would be having all sorts of startup job offers, talk shows, TV and radio interviews of how he came up with a successful product in the form of bitcoin and am pretty sure some governments would have been subcontracting him to get him to create a national crypto thanks to his expertise. But getting to imagine how all this attention would be knocking at his door step its best that he retired this pseudo character.

Regarding your question and what would Satoshi do if he were not disappeared today he would not stop working on the bitcoin project and w could have had a chance to hear from him and his great project. But in another theory, I think he thing would change because he already done what he wanted to do and achieved the goal and target, other things such as developing the bitcoin project and making it better in up to other developers. However maybe our Satoshi is still between bitcoin developer doing his job.

There is no confirmation or connection whether SN plans to develop a new system for running bitcoin in the future, even I don't see a bitcoin travel system that has been outdated from previous developments. The Metaverse and Web3 are too complicated to understand, for some it might make more sense and there might be another side that stands out more. For me bitcoin has been perfect for its journey.

Presumably SN not publishing the identity is a step to avoid obsolescence of the initial journey after being created. Don't really know where the creator is currently and whether he is on vacation to welcome the approaching new year.

OP:?
It is not what we will do tomorrow, it is what we will do today that has that change effect and in that sense Bitcoin is there available to be kept the same, to be modified and/or improved.

Nothing depends on that today on what SN would do, it is something that is there in the individual to improve it, modify it or simply assume what exists as the best, then transmit that emotion and confidence to the collective.

Bitcoin was not conceived for individualism, that includes SN. Consensus... I think that would be his main thought.
  

We can't know for sure if he's still roaming around this Earth or not anymore. We don't even know if bitcoin was truly created by a single person because there are some studies that are suggesting that there's a handful of people behind the name SN but those studies are already pointless because there's no way that we can verify it as it only leads to another dead end.

But one thing's for sure, I know that there's some reason why Satoshi Nakamoto vanished last 2010. We just don't know what it is.

Yeah, I'd really like to bet money on him NOT thinking of metaverse and Web3 nonsense... one of the biggest clues for me that disassociate Bitcoin thinkers from those buzzwords are... the use of buzzwords like "revolutionise". 9 pages of white paper brilliance and not one mention of otherwise useless phrases like that.

The present's pretty insane as it is from a Bitcoin POV. And it's nice that we overlook that =)

What i was expecting us to say, is that assuming Satoshi still in existence it would have rebrand the technology of cryptocurrency and add more things that will keep the movement of digital currencies very safe. From my understanding.

How will we know if Satoshi isn't present? We don't even know who Satoshi is, and we can't be sure he's not working on something else. If he is revealed, I believe he will upgrade Bitcoin with more advanced technology. In any case, he will not allow Bitcoin to be backdated. I'm not saying Bitcoin is out of date, but it could be improved.

If I were him, I would do nothing. He left the project to the community, the project is still going, it's still strong, no matter what happened in the last 10-12 years, and many things happened. Maybe he'd like to speed up the adoption somehow, that's the only problem in my opinion, but just like all good things, they take time.

They are centralized because they depend on a single developer team, that has a large amount of premined coins and therefore controll the network. Bitcoin can also only be decentralized because satoshi disappeared.

I suppose Satoshi would have study anonymous transactions. I guess he might have developed the Pandora Cash protocol because, well, digital currency should not be tracked by gov.

 Not sure how they are centralized shitcoins? There are advantages to each language. Out of curiosity have you tried to build on either, including BTC? 

Not at all blaming bitcoin! It is my main financial reserve and savings for the future. So there's no way I am going to blame bitcoin. But in the real world, we have multiple options available to pay instantly and without any fees (from the sender). Just do research on what IMPS is and then you will understand the level of innovation already available in today's world. Bitcoin will never be able to reach there. Bitcoin is a great reserve currency, but not as great as a method of the local transaction. For cross-border transactions, obviously, bitcoin is way ahead of the mainstream options available. That's exactly what I want to point out - centralized doesn't always mean bad things.

In the current era of speed and convenience, bitcoin doesn't stand a chance to become a preferred payment method. It's hard to admit for me as well but that doesn't change the truth!


Oh hell no! I never wanted this mess in the market. Every single day, some nonsense tokens are getting listed in the market where people are gambling to get rich. That's nonsense! 99% of the new tokens and coins are useless, but that 1% always stands out and that's what we need to encourage.

I think if satoshi were alive today he would be working on the Namecoin project. I actually think he would have made significant strides in making a decentralized experience for browsing the web and gone further to help merged mining bring along other chains with valuable additions to the community. I think he envisioned Bitcoin as a motor to help drive decentralization in other areas, but fell too I’ll to continue his work to the point where it would be embraced and built upon by the community’s survivors.

Do you mean in general or only when it comes to cryptocurrencies? I would disagree with you, whether it's about central banks or centralized cryptocurrencies.


The biggest disadvantage of Bitcoin is that it is not adapted to the extent that it is understood by the majority of the population, whose level of financial literacy generally does not go beyond taking out a plastic card from a wallet and remembering a 4-digit PIN. The greatest popularity is based on trust, which is based on decentralization, which is something that no other cryptocurrency has.

Regarding the slowness of transactions, if you were a beginner I wouldn't be surprised by such a comment, but if 10 minutes on average is what you call slow, that's quite fast enough for me. Of course for all those who have no idea what fee and mempool are, transactions can be really slow, but that's not a problem that should be blamed on Bitcoin.


Do you think that new xx tokens/cryptocurrencies every day have a positive impact on the crypto market? Are you one of those waiting for a new king on the throne or do you think that the resourceful and enterprising 1% should get rich at the expense of the remaining 99%? These innovations, as you call them, are nothing but a bunch of nonsense and false promises.

Centralized doesn't always mean bad. Bitcoin has many flaws as well. But it is still enjoying the highest popularity just for being the pioneer of the cryptocurrency market. Bitcoin transactions are slow. it doesn't have smart contract functionality. The block size is small and that's why we are seeing the requirement of having Segwit and LN sorts of addons. To be honest, no cryptocurrency is flawless. All big cryptos have their own strengths and weaknesses. Just because some cryptos are somewhat centralized, doesn't mean they are worthless. Keeping our minds open will only pave way for more innovation in crypto market and that's good in long run!

Exactly, because what else could a person say when he saw that people are constantly looking for a replacement for Bitcoin, and everything that was created after Bitcoin is completely contrary to his idea. However, someone as intelligent as him would surely understand what motivates people to invest in altcoins, although at the same time they know that behind all these projects there are people who put profit first.

You see, even the OP thinks that some of these projects have something big and significant in their future development projections, and after E moved to POS, no one realized how much that project went backwards, even though it was never of any real value.

He surely wouldn't want Bitcoin to remain just the way he made it. The protocol is open-source allowing anyone to develop it further, build upon it, and perhaps suggest better features when they become available. Satoshi didn't create SegWit and he didn't create the Lightning Network, but they still exist and we use them. Isn't that what open-source is supposed to be about? Constant growth and development.

I'm sure he knew that others would mimic his creation and build their own coins and blockchains. But I don't think he expected they would stray so far away from the initial ideas and the pillars of what Bitcoin is. I think he would have been proud and happy if Bitcoin was the starting point to an even better digital asset of the future. Instead, it's used as the foundation to create centralized and trust-requiring solutions that are more restrictive and not censorship-resistant.       

Bitcoin and cryptocurrencies have gone from nothing to a two-trillion dollar economy. There wouldn't be as much of a need for him to continue to develop it as an existential money problem, because there are many torch-bearers who can do a better job.

If Satoshi were alive today and not enjoying retirement, I doubt he would be interested in cryptocurrencies full-time but aim to address greater existential challenges using decentralisation. I'd think he would enjoy working with nostr, a decentralised social network that uses bitcoin cryptography methods. There are many social challenges that can be addressed with decentralised technologies like this. For example, standard political voting should incorporate cryptographic verification features, and yet I've not yet seen a solution implemented, which is an opportunity lost.

Nothing much needed to be done that has not been in place by him regarding bitcoin, all he needs is to maintain the security network within and maintain the value and consistency in creating adequate difference in the world economy of digital currency and sit back, relax and enjoy the fruitfulness of his labour and bitcoin invention together with the Yuletide season, he don't need to pressurize himself because for nothing becau nthe network is self susta on itself except but if he wishes to develop or bring in something new in addition to bitcoin.

Satoshi would weep after seeing centralized shitcoins like Ethereum and Cardano with massive premines and fundamental flaws in their protocols that at the same time are being sold at high prices while they have no usage whatsoever in the real world.

Satoshi seemed to be interested and focused on digital cash, so safe to assume he'd still be working on Bitcoin the way it is today(with probably slight differences due to existing, newer information). A better question would be if he'd contribute to DeFi protocols and smart contract cryptocurrencies or not.

It's hard to say what he would do because we don't know who he is and don't really know his true intentions behind creating Bitcoin. It seems like a pretty pointless discussion.

Probably nothing. He achieved what he wanted the world to see bitcoin as a truly decentralized method for peer to peer. Its just that the world finds it very simple and wanted more improvement and more complicated use cases in which the technology could be more useful. Many developed a lot of platform and concepts but the best one Satoshi did stand out and been employ since its creation. But as a genius like him, I think he can maybe do new things to simplify the systen he created.

I think Satoshi wouldn't stop working if he chose not to disappear. Bitcoin probably didn't end as it is. There will probably more innovations to make sure it fits to what the people really need and to make sure there is adoption. I don't think everything will end as a very simply economy P2P transactions. There will probably more decentralized financial innovations, probably applications also and others. One thing is for sure though, Satoshi would be developing all things decentralized. There is no fake decentralization.

You can check on bitcoin SV (Satoshi Vision) hahaha just joke. I think like the @libert19 only time will tell and its definitely more than just p2p, store of value, or using payment. Is more than that. But one time for sure bitcoin still gonna lead the way

Certainly more than simple p2p transactions.

If I were to guess, he would have imagined a finance built upon cryptocurrency where one no longer need to depend on traditional finance which defi is aspiring to.

Understood, it is not perfect, and will never be. That's just how world works, that's why progress is never ending.

where this leads us? Time will tell.

 What would satoshis vision be today? Vision on the ecosystem be different? Cross/side chains...bridges? Or more so just very simple economy p2p txs? So no massive amounts of apps/services/games etc? There are things C does well, just like Haskell, and solidity.. I wonder if THEY would ever come to terms with interoperability. BTC, Ethereum, and Cardano (c  ,solidity,haskell) have some great things coming along.