Why doesn't Satoshi reveal their identity? - page 2.

Mame89

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Quote from: Kevystia on October 22, 2024, 03:31:27 AM

How does Satoshi's anonymity affect the trust of users and investors in the Bitcoin network? Can this anonymity be considered an asset or a drawback for the legitimacy of the cryptocurrency?

It is precisely with anonymity that bitcoin continues to grow until now and even for the future, anonymity is not always negative so that it cannot be trusted, sometimes anonymity is needed to increase public trust like Satoshi now who is still a mystery in this century.

According to some crypto communities, Satoshi Nakamoto does not exist, because it is very dangerous if Satoshi Nakamoto appears to the public with the creation of a very massive technology. Satoshi Nakamoto is a translation of a unique cryptographic code. If described in words, this code is what keeps blockchain/bitcoin technology alive and growing until now, that's what is said. Satoshi and bitcoin will remain a mystery.

tread93

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Quote from: Kevystia on October 22, 2024, 03:31:27 AM

How does Satoshi's anonymity affect the trust of users and investors in the Bitcoin network? Can this anonymity be considered an asset or a drawback for the legitimacy of the cryptocurrency?

Well, I feel like there are some very obvious reasons like privacy and safety security etc. then there is also the possibility that some nation state could apprehend him to try and disband Bitcoin or something (maybe this could have been the case before all the institution money came in). It’s all pretty simple reasoning.

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Why doesn't Satoshi reveal their identity? I mean what reason satoshi need to reveal his identity I mean the satoshi "think" would not gonna stop until the last bitcoin has been mined in my opinion.

First satoshi don't have real reason to reveal its identity what he gonna get from it. Maybe only famous but after that there will be a ton of government agency gonna look for it and maybe some people will do harm for him. he maybe have ton of wallet that we don't know and live good at the moment

doomloop

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Quote from: Kelward on November 04, 2024, 03:57:41 AM

Bitcoin is the valuable asset that it is today because it's creator Satoshi Nakamoto, decided to practice what he created Bitcoin to be, and that is a decentralized digital currency. His anonymity has proven that he wants Bitcoin holders to be in total control of their asset, no centralized authority or even him can claim ownership of Bitcoin or it's network.

Maybe you are right there, that his disappearance complements with Bitcoin but even if he chooses to stay afloat, I think there won't still be a major difference or change with BTC.

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His anonymity has proven that he wants Bitcoin holders to be in total control of their asset

I think his anonymity has nothing to do with that. BTC is already known to be decentralized, so it is already understandable on how should people use it. The only thing is, that regulation and centralization invades us and there are now people who sides on them but I won't totally blame them. They won't also side there for nothing but they might also see something that interests them that they can't find on its counter part.

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no centralized authority or even him can claim ownership of Bitcoin or it's network

As for centralized authority, yeah but for him? Maybe it is possible, since he is the ones who created it and there is no harm on it anyway, so why not?

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Quote from: Kevystia on October 22, 2024, 03:31:27 AM

How does Satoshi's anonymity affect the trust of users and investors in the Bitcoin network? Can this anonymity be considered an asset or a drawback for the legitimacy of the cryptocurrency?

Actually, Satoshi's anonymity is an asset to Bitcoin. It makes it stronger and more decentralized than other projects. Without someone to focus on, all of the attention goes into the cryptocurrency itself. Not like Ethereum's Vitalik Buterin where most people follow him like he were some sort of "god".

Exposing Satoshi's identity would prove to be risky for the longevity of the project. We don't want governments behind Satoshi's "tail", do we? It's best to leave everything as is. For the good of Bitcoin and the whole crypto industry. Aren't we all Satoshi?

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Quote from: aoluain on November 05, 2024, 02:26:48 PM

Anyway thats how I see it.

Fair enough.

By the way, I am not saying that he wouldn't have issues down the road if he revealed his identity (almost certainly he would), I just don't think that it would happen so early on.

aoluain

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Quote from: Rikafip on November 04, 2024, 09:33:57 AM

Quote from: aoluain on November 04, 2024, 08:55:10 AM

Whatever about now but back in 2009/2010 Satoshi would have been arrested for sure
and "he" knew the implications of releasing Bitcoin into the wild.

I’m curious to hear why you think Satoshi would have been arrested back in 2009 or 2010 if he had made his identity public.

Keep in mind that in those early days, bitcoin was used by only a handful of cypherpunk enthusiasts, and its price was very close to zero. It wasn’t a threat to anyone.

He definitely got scared right after an article by PC World back in 2010 linking
Wikileaks to Bitcoin in a round about way. This was his second last post:

Quote from: satoshi on December 11, 2010, 06:39:16 PM

It would have been nice to get this attention in any other context. WikiLeaks has kicked the hornet's nest, and the swarm is headed towards us.

The PC World article > https://www.pcworld.com/article/499375/could_wikileaks_scandal_lead_to_new_virtual_currency.html

Satoshi definitely took a preemptive decision to disappear for fear of being
caught/arrested/identified by authorities.

While today Bitcoin is more accepted and treated as an asset but back in 2010/2011
it was seen as a "currency" and you just cant create a currency of your own.

Anyway thats how I see it.

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Quote from: potatotom on October 23, 2024, 05:49:30 PM

There's one thing though I thought about when watching the HBO thing a few weeks ago: We're in a bit of a limbo because the the "satoshi bitcoins" haven't been burned. It's a bit of Damocles' sword hanging above us.

I can understand why some people say "wait, this satoshi guy has 1.1M BTC (ill informed, I know) so this is just a ruse for him to get rich" and many people don't trust the system because those 1.1M are still out there waiting to be moved.

I think for Bitcoiners this is not a big issue, but for people looking into the platform is indeed an issue.

I think most likely satoshi is sadly not among us anymore in either two ways

* he simply passed away
* he did the almost impossible and got a new life after Bitcoin (meaning, that he turned away from the project and hasn't come back, possibly deleting all Bitcoin related data he had and deleted his keys as well)

But we'll never know. I think it's OK to not know, but as I said above, persons who are interested in Bitcoin will stumble about the unresolved issues with his coins and may be taken aback, thus hindering adoption.

that's just my 2sats anyway. :-)

Although you are right and I have also thought many times the same metaphor as you that such amount of Bitcoins are a Damocles' sword, and it is logical that people who hear about this topic for the first time raise an eyebrow, you are also right that it is not a big obstacle to my trust in this project.

I don't consider myself a particularly believing person at this point in my life, but perhaps it has something to do with faith. So, although the third option * he is still somewhere watching out there, and he still has access to the keys is a very plausible possibility, I think there are many of us who think that ideals would outweigh money or power for the person behind the mask.

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At this point the main problem behind the Satoshi's identity is the amount of money involved in it. We all know satoshi is holding something close to 1M BTC. And if we do the math, we will find a crazy big amount of money.

1,000,000*68,000 = $68,000,000,000

So, that's how much is worth Satoshi fortune, and i think that's a good reason to stay anonymous, and that number will be bigger in the future until Satoshi hits the 1st place in the Forbes millionaire list Grin

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Quote from: Kevystia on October 22, 2024, 03:31:27 AM

How does Satoshi's anonymity affect the trust of users and investors in the Bitcoin network?

The disappearance of Satoshi has not affected the trust in Bitcoin one bit, it has rather caused more appreciation of the asset for it shows a true decentralisation and freedom in his absence. This has never been done before and more reason why people trust Bitcoin and adopt it this much.

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Can this anonymity be considered an asset or a drawback for the legitimacy of the cryptocurrency?

For me, it is both, it's an asset because it shows true decentralization and freedom of people since Satoshi is not making sole decisions regarding Bitcoin. But it's a drawback because developers and miners are monopolizing Bictoin to their advantage. Also, Bitcoin needs some important upgrades, the abandonment by Satoshi is not helping, it's a setback if we think it through.

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Quote from: reagansimms on November 04, 2024, 09:11:48 PM

In addition, Bitcoin has become a threat to governments and the status quo of the traditional financial industry, if Satoshi's identity is revealed, the consequences will be very large, perhaps his safety will be threatened. The success of Bitcoin as you see it today is due to Satoshi remaining anonymous, so let him remain hidden while enjoying the success of Bitcoin that is in line with his goals.

In my opinion we should stop spreading news like this because it is not beneficial for bitcoin. I don't deny that bitcoin has been hated by many governments in the past but currently, there aren't too many governments hostile to it. Things are slowly getting better between governments and bitcoin as more and more countries legalize it. Bitcoin does not threaten governments and the traditional financial system, that is not the purpose for which satoshi created it.

The success of bitcoin is not because satoshi is anonymous, but because bitcoin has succeeded in becoming a decentralized currency that does not depend on anyone, including satoshi. A currency for everyone and everyone can control it, it is not dependent on any government, organization or individual.

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Satoshi vision was to create Bitcoin so that it belonged to everyone and no one could control its price movements, this is related to decentralization. If Satoshi reveals his identity, then Bitcoin fans will make him the leader and this situation will have a big impact on every decision Satoshi makes, this will be contrary to his main goal.
In addition, Bitcoin has become a threat to governments and the status quo of the traditional financial industry, if Satoshi's identity is revealed, the consequences will be very large, perhaps his safety will be threatened. The success of Bitcoin as you see it today is due to Satoshi remaining anonymous, so let him remain hidden while enjoying the success of Bitcoin that is in line with his goals.

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Quote from: DaNNy001 on November 04, 2024, 03:18:10 PM

All this talks about Satoshi and his identity is becoming boring because from the wider view of things I don't really think Bitcoin would have gotten such success if Satoshi was to be known from the initial launch of Bitcoin. Although I understand that human curiosity would always try to find out the real identity of Satoshi but it's something that's becoming sort of annoying when you see people make this argument or insight over and over again.

It is also getting quite tiresome because most of it is speculation without any shred of evidence, so most of the discussions about him are baseless theories that lead nowhere, and since that is the case my interest on them is nonexistent, after all Satoshi not only hid his identity very well, but at the same time his identity is not really important, since bitcoin as a project now exists as an independent entity that cannot be brought down no matter what the governments try to do to stop people from adopting it.

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Quote from: Z-tight on November 04, 2024, 02:29:47 PM

Quote from: krishnaverma on November 04, 2024, 09:34:37 AM

He is the creator of bitcoin. Just imagine what he will have to go through if he reveals his identity. He might be holding good amount of bitcoins and that can be a reason that to ensure his safety he does not reveal his identity.

I feel Satoshi staying completely anonymous up until now is more about keeping their influence far away from the network than their own safety. Satoshi did not want people to take them as a central figure in the network and take decisions based on what they do, i.e. if Satoshi were to be around and moved some of their coins, it would cause many people to also move their own coins too, that is the influence i am talking about.

All this talks about Satoshi and his identity is becoming boring because from the wider view of things I don't really think Bitcoin would have gotten such success if Satoshi was to be known from the initial launch of Bitcoin. Although I understand that human curiosity would always try to find out the real identity of Satoshi but it's something that's becoming sort of annoying when you see people make this argument or insight over and over again.

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Quote from: krishnaverma on November 04, 2024, 09:34:37 AM

He is the creator of bitcoin. Just imagine what he will have to go through if he reveals his identity. He might be holding good amount of bitcoins and that can be a reason that to ensure his safety he does not reveal his identity.

I feel Satoshi staying completely anonymous up until now is more about keeping their influence far away from the network than their own safety. Satoshi did not want people to take them as a central figure in the network and take decisions based on what they do, i.e. if Satoshi were to be around and moved some of their coins, it would cause many people to also move their own coins too, that is the influence i am talking about.

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Quote from: Kevystia on October 22, 2024, 03:31:27 AM

How does Satoshi's anonymity affect the trust of users and investors in the Bitcoin network? Can this anonymity be considered an asset or a drawback for the legitimacy of the cryptocurrency?

He is the creator of bitcoin. Just imagine what he will have to go through if he reveals his identity. He might be holding good amount of bitcoins and that can be a reason that to ensure his safety he does not reveal his identity.

I mean if you ask an experienced user on this forum, even he does not want to reveal identity. Because others know that the users here are involved with crypto and if thus some person is able to trace you through that data, it is not safe for you personally. Even the family members can get in trouble because of this.

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Quote from: aoluain on November 04, 2024, 08:55:10 AM

Whatever about now but back in 2009/2010 Satoshi would have been arrested for sure
and "he" knew the implications of releasing Bitcoin into the wild.

I’m curious to hear why you think Satoshi would have been arrested back in 2009 or 2010 if he had made his identity public.

Keep in mind that in those early days, bitcoin was used by only a handful of cypherpunk enthusiasts, and its price was very close to zero. It wasn’t a threat to anyone.

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Quote from: Sanitough on November 04, 2024, 02:31:56 AM

From the very start, he was already anonymous, and the fact that we've reached this level already shows the trust of the investors. I might even be concerned if he appeared, as it could change everything about Bitcoin being the best asset - who knows, it might be replaced by another asset.

How would Bitcoin change if he returned? I really don't think he can change anything about bitcoin because he is basically the creator of bitcoin but to make bitcoin more perfect he gave control of bitcoin to the community. That means bitcoin is independent of any individual, no one can control it, not even its creator. Any change to bitcoin requires the consensus of all the developers and he is just one of them.

Quote from: Sanitough on November 04, 2024, 02:31:56 AM

There’s a reason why he kept himself anonymous, and one big reason is to stay safe with all the wealth he holds. If you were someone holding close to 1 million Bitcoins, would you make yourself public or keep your current status?

I think he decided to remain anonymous for his own safety rather than to protect his assets. Because at the time he disappeared, the value of those 1 million bitcoins wasn't that great and he had no idea that bitcoin would become as great as it is today.

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Quote from: ChiBitCTy on October 22, 2024, 01:47:43 PM

I firmly believe that Satoshi (whether it be a single person or a group of people) had planned to never reveal their identity form the very beginning. It only makes sense if you think about it. In order for bitcoin to be the currency of the people, they needed it to not have a central figure behind everything. By not having a main person, or CEO or whatever you'd want to call it, it helped prove that this is a decentralized currency not controlled by any one person.

I agree, it was part of the plan or built into the schedule from the get go.

Whatever about now but back in 2009/2010 Satoshi would have been arrested for sure
and "he" knew the implications of releasing Bitcoin into the wild.

The anonymity of Satoshi is a masterclass in remaining invisible. Two great feats,
Bringing us Bitcoin and remaining invisible.

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Why doesn't Satoshi reveal their identity?

Why would he/she/they bother at this stage? there is clearly no advantage to
doing it. I firmly believe that nobody cares who Satoshi is just the same as
all these people who create threads about the identity, it doesnt matter - anymore

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Quote from: Kelward on November 04, 2024, 03:57:41 AM

Bitcoin is the valuable asset that it is today because it's creator Satoshi Nakamoto, decided to practice what he created Bitcoin to be, and that is a decentralized digital currency. His anonymity has proven that he wants Bitcoin holders to be in total control of their asset, no centralized authority or even him can claim ownership of Bitcoin or it's network. Every aspects of Bitcoin are controlled by people whom you and I don't have to know, so there's no intimidation about the influence of the creator or people that runs the network. I hope that Satoshi, continues to remain anonymous to proof that Bitcoin is truly decentralized.

Not really, here's the Bitcoin pools https://hashrateindex.com/hashrate/pools

Now we're all know the each name of the pools except the others, we can search the company and find who work on that company on their website. Not to mention Bitcoin developers are mostly getting donation from centralized exchanges and institutions.

I believe there's big or less influence to the developers.

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