Why doesn't Satoshi reveal their identity? - page 3.

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Quote from: hd49728 on November 03, 2024, 10:06:52 PM

Quote from: serjent05 on November 03, 2024, 06:35:36 PM

snipped

I don't care about it and as a Bitcoin investor, I care more about policies from governments that can affect me and my personal finance. Like Capital Gain tax on Bitcoin, recent months there are some countries with proposals to force their citizens pay tax even they're holding bitcoin and not yet cash it out for profit.

It's very fearful policy if it is enforced by law and tax authorities and if it spreads more globally to other countries.

I agree it is frightening to think such a scenario but, we all know that these things are inevitable. Unless we move to a place that is not of any government jurisdiction (might be hard to find if not impossible). Every citizen is subjected to the government's laws and policies, so there is nothing to do but abide if we don't want to have problems. Whether we like them or not fear them or not, we have to follow what is stated according to the law.

Let us hope that if ever, the government implements a fair law on cryptocurrency holders that can benefit the government and is not abusive to the citizens who hold cryptocurrency.

Quote from: hd49728 on November 03, 2024, 10:06:52 PM

Quote

For users and holders, the significant amount of Satoshi's holdings' threat to crash the market had been eased out due to his being absent.

Satoshi Nakamoto if is still alive and has access to his bitcoin, will have no reason to dump all of his coins on the market. He has no reason to sell all because he won't be able to use all of such massive money after cashing out. As a Bitcoin founder, it's reasonable if his main priority is holding his bitcoins.

Indeed yet we cannot deny the fact the fear circulating the market of the thought if Satoshi insta dumps his holdings, the threat does not disappear but somehow as I stated is eased out due to his inactivity. Whether he is alive or dead, who knows....

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Quote from: Fiatless on October 22, 2024, 06:06:38 AM

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?

Knowing that Satoshi's wallet has not been assessed for a long time gives the confidence that he didn't create Bitcoin just to become rich. His anonymity also proves he wants the system to be truly decentralised. Trusting a system that runs smoothly without the identity of the creator is better because a known inventor can easily influence the product. So Satoshi's facelessness is an asset to Bitcoin.

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.

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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?

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.

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?

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Quote from: Rabata on November 04, 2024, 01:56:55 AM

Quote from: Iranus on November 03, 2024, 09:47:24 PM

Quote from: mirakal on November 03, 2024, 05:36:40 PM

Just to answer your topic alone, if Satoshi will reveal his identity, will it help to promote bitcoin anonymity? So the answer to this is probably the reason why Satoshi stay out of the spotlight and chose to be silent for all these years. Otherwise, he will be the one to break the feature of bitcoin if he suddenly comes out from his cave, which I think majority will definitely not agree. It’s best to just stay wherever he is right now. After all, all these credits bitcoin has been receiving are still attributed to one and only Satoshi.

I think he decided to remain anonymous because he realized he was in danger as the government was trying to find him at that time. But there is no denying that his anonymity contributed to bitcoin's success today. If he had been caught, who knows what would have happened because bitcoin was so small at the time and could have been stopped much more easily.

Yes people now trust Bitcoin the most because of its anonymity. They know that having a central authority is rather a threat to them. As they are doing today, some people will feel insecure about their assets tomorrow when another government takes over the country. Bitcoin will guarantee its wealth there even if someone else attacks it personally.

I believe that if Satoshi's identity is ever truly discovered, it will be shattered. If decentralized platform to make centralized, then it must be threatened. However, since Bitcoin has not been traced for nearly 15 years since its discovery, its creator will remain anonymous for the foreseeable future. Because Satoshi himself knows that if his existence is discovered, there will be various kinds of pressure on him.

I just don't understand what would be "shattered" from the reveal of Satoshi, either he is a man or a group of them..

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Quote from: Iranus on November 03, 2024, 09:47:24 PM

Quote from: mirakal on November 03, 2024, 05:36:40 PM

Just to answer your topic alone, if Satoshi will reveal his identity, will it help to promote bitcoin anonymity? So the answer to this is probably the reason why Satoshi stay out of the spotlight and chose to be silent for all these years. Otherwise, he will be the one to break the feature of bitcoin if he suddenly comes out from his cave, which I think majority will definitely not agree. It’s best to just stay wherever he is right now. After all, all these credits bitcoin has been receiving are still attributed to one and only Satoshi.

I think he decided to remain anonymous because he realized he was in danger as the government was trying to find him at that time. But there is no denying that his anonymity contributed to bitcoin's success today. If he had been caught, who knows what would have happened because bitcoin was so small at the time and could have been stopped much more easily.

Yes people now trust Bitcoin the most because of its anonymity. They know that having a central authority is rather a threat to them. As they are doing today, some people will feel insecure about their assets tomorrow when another government takes over the country. Bitcoin will guarantee its wealth there even if someone else attacks it personally.

I believe that if Satoshi's identity is ever truly discovered, it will be shattered. If decentralized platform to make centralized, then it must be threatened. However, since Bitcoin has not been traced for nearly 15 years since its discovery, its creator will remain anonymous for the foreseeable future. Because Satoshi himself knows that if his existence is discovered, there will be various kinds of pressure on him.

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Quote from: STINKYBEE on November 03, 2024, 11:45:20 PM

Quote from: hd49728 on November 03, 2024, 10:06:52 PM

Satoshi Nakamoto if is still alive and has access to his bitcoin, will have no reason to dump all of his coins on the market. He has no reason to sell all because he won't be able to use all of such massive money after cashing out. As a Bitcoin founder, it's reasonable if his main priority is holding his bitcoins.

I think that whomever controlled the private key for the genesis block won't been seen for a very long time, if at all. I'm preety sure the individual/s who started bitcoin, had a vision that far surpassed the length of their own lifespans and satoshi is obviously not that dumb enough to trade his Bitcoin for fiat and that is the whole point of BTC.

He is the idealist, not an opportunist.
So, yeah, he or they wouldn't do that, duh. Never.

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Quote from: hd49728 on November 03, 2024, 10:06:52 PM

Satoshi Nakamoto if is still alive and has access to his bitcoin, will have no reason to dump all of his coins on the market. He has no reason to sell all because he won't be able to use all of such massive money after cashing out. As a Bitcoin founder, it's reasonable if his main priority is holding his bitcoins.

I think that whomever controlled the private key for the genesis block won't been seen for a very long time, if at all. I'm preety sure the individual/s who started bitcoin, had a vision that far surpassed the length of their own lifespans and satoshi is obviously not that dumb enough to trade his Bitcoin for fiat and that is the whole point of BTC.

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Quote from: serjent05 on November 03, 2024, 06:35:36 PM

Well to add to the quoted post, these countries consider Bitcoin as an asset:
United State
Canada
Australia
Japan
United Kingdom
Germany

So we really can say that it is an asset since government had already started accepting and labeling it as an asset.

I don't care about it and as a Bitcoin investor, I care more about policies from governments that can affect me and my personal finance. Like Capital Gain tax on Bitcoin, recent months there are some countries with proposals to force their citizens pay tax even they're holding bitcoin and not yet cash it out for profit.

It's very fearful policy if it is enforced by law and tax authorities and if it spreads more globally to other countries.

Quote

Satoshi disappearance is still a mystery. All we have in our minds are just guesses and assumption but this disappearance had a great positive impact on the trust of users and investors in the Bitcoin network as time pass by. The timing of Satoshi disappearance is good enough to establish the trust of the community since it happens before Bitcoin became popular.

Satoshi Nakamoto chose good times to launch Bitcoin Genesis Block and for his disappearance from Bitcoin communities.

Bitcoin Genesis Block with the message taken from The Times newspaper on that day: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
https://en.bitcoin.it/wiki/Genesis_block

Bitcoin block subsidy halvings are set up to happen in USA. Presidential Election Years. It's perfect for Bitcoin volatility as well as chance to be pushed up a lot with policies from a new President if things are good.

Quote

For users and holders, the significant amount of Satoshi's holdings' threat to crash the market had been eased out due to his being absent.

Satoshi Nakamoto if is still alive and has access to his bitcoin, will have no reason to dump all of his coins on the market. He has no reason to sell all because he won't be able to use all of such massive money after cashing out. As a Bitcoin founder, it's reasonable if his main priority is holding his bitcoins.

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Quote from: mirakal on November 03, 2024, 05:36:40 PM

Just to answer your topic alone, if Satoshi will reveal his identity, will it help to promote bitcoin anonymity? So the answer to this is probably the reason why Satoshi stay out of the spotlight and chose to be silent for all these years. Otherwise, he will be the one to break the feature of bitcoin if he suddenly comes out from his cave, which I think majority will definitely not agree. It’s best to just stay wherever he is right now. After all, all these credits bitcoin has been receiving are still attributed to one and only Satoshi.

It is true that Satoshi created bitcoin but from the very beginning, it was designed to be decentralized and not dependent on any individual, including its creator. So I don't think his presence will change anything about the anonymity or performance of the bitcoin blockchain. The community controls Bitcoin as we often say we are all Satoshi; any change to bitcoin needs the consent of majority of the community, no one can change bitcoin by themselves even if it is satoshi.

I think he decided to remain anonymous because he realized he was in danger as the government was trying to find him at that time. But there is no denying that his anonymity contributed to bitcoin's success today. If he had been caught, who knows what would have happened because bitcoin was so small at the time and could have been stopped much more easily.

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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?

Satoshi anonymity does not affect the trust of users. Why because bitcoin is totally decentralized and it's memorandum of operations is don in blockchain where no centralised entity controls it. each transaction is liable to be traced without a third party. Where Satoshi anonymity would have affected bitcoin users was if bitcoin was centralised, meaning that it is controlled by Satoshi which might be manipulated. But since it's done in an open Ledger where each transaction has a harsh, it is impossible for anyone to be decieved so his anonymity even help bitcoin to be stronger.

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Quote from: nelson4lov on November 03, 2024, 04:48:34 PM

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?

An asset definitely. Satoshi's anonymity has proved substantial to Bitcoin growth so far so much that it would be very unnecessary for him to reveal his identity now that Bitcoin has already become a global movement bigger than a one man's parade. I see how sentiment currently works in Ethereum. Vitalik does anything that doesn't align (sell ETH to find his personal endeavors or attend an event to sing, etc), price goes down. We don't want the same experience with Bitcoin.

Well to add to the quoted post, these countries consider Bitcoin as an asset:
United State
Canada
Australia
Japan
United Kingdom
Germany

So we really can say that it is an asset since government had already started accepting and labeling it as an asset.

Satoshi disappearance is still a mystery. All we have in our minds are just guesses and assumption but this disappearance had a great positive impact on the trust of users and investors in the Bitcoin network as time pass by. The timing of Satoshi disappearance is good enough to establish the trust of the community since it happens before Bitcoin became popular. For users and holders, the significant amount of Satoshi's holdings' threat to crash the market had been eased out due to his being absent.

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Just to answer your topic alone, if Satoshi will reveal his identity, will it help to promote bitcoin anonymity? So the answer to this is probably the reason why Satoshi stay out of the spotlight and chose to be silent for all these years. Otherwise, he will be the one to break the feature of bitcoin if he suddenly comes out from his cave, which I think majority will definitely not agree. It’s best to just stay wherever he is right now. After all, all these credits bitcoin has been receiving are still attributed to one and only Satoshi.

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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?

An asset definitely. Satoshi's anonymity has proved substantial to Bitcoin growth so far so much that it would be very unnecessary for him to reveal his identity now that Bitcoin has already become a global movement bigger than a one man's parade. I see how sentiment currently works in Ethereum. Vitalik does anything that doesn't align (sell ETH to find his personal endeavors or attend an event to sing, etc), price goes down. We don't want the same experience with Bitcoin.

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Considering knowing the creator of the Bitcoin will give an impact on the current market state of course this is one of the most question in the past few years about the creator of the Bitcoin could be there's a lot of question to him that like every word can be used for some market manipulation by the whales or large institution. I guess reason why they don't want to show off at all because he don't want to have a popularity and problem of course.Just being let it be. You can reference about the release of the HBO and check the market situation of that time.

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Quote from: ? on October 27, 2024, 01:09:55 AM

"Bitcoin is well-known and trusted because it is decentralized and not controlled by a third party. If Satoshi (he/she/they) were to reveal himself, I think it would kill the entire purpose of Bitcoin being decentralized. Although he may not actually be able to control people's Bitcoin, there would be a number of people who would doubt Bitcoin if he made himself known. Additionally, it would have made him a target, especially for governments and organizations. So, it's pospossible that anonymity was chosen for the creators safety

Everything comes with a price in cryptocurrency, more reason for us to grab the one that's available. The government plays a major role in bitcoin and cryptocurrency, they've the power to transformed everything into their own favour and used every possible subjects to inclined damaged and losses on the common man. Nakamoto Satoshi have a very good reason to stay anonymous in the space because a whole lot of things follows when we talked about this person in particular. He would be open to more life threaten because all those cruel investors and traders that have liquidated their portfolio will filed for court suit against him which might not end well.

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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?

Bitcoin is the most trusted cryptocurrency in the market because it's an open source and anyone is allowed to mine Bitcoin if they have the tools available. Mining Bitcoin has made things easier for investors that might want to try it out getting the necessary tools while accumulating units of Bitcoin. If you compare this approach to how crypto projects are being launched enriching the team alone earning crazy amount of money. We shall keep seeing new projects launching and expecting investors to buy and hold their tokens while they are becoming rich and making huge amounts of money from the project. If the anonymity of Satoshi is exposed, this can have great price depreciate on Bitcoin and it could reduce the trust investors have on it.

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"Bitcoin is well-known and trusted because it is decentralized and not controlled by a third party. If Satoshi (he/she/they) were to reveal himself, I think it would kill the entire purpose of Bitcoin being decentralized. Although he may not actually be able to control people's Bitcoin, there would be a number of people who would doubt Bitcoin if he made himself known. Additionally, it would have made him a target, especially for governments and organizations. So, it's pospossible that anonymity was chosen for the creators safety

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Quote from: bettercrypto on October 24, 2024, 06:20:40 AM

Definitely it is an asset for me, and also if Satoshi doesn't want to reveal himself, I don't think it matters because we all benefit from what he did, and also no one
knows the reason why didn't he let me know who he was.

And because of what he did, I really admired him because it shows that his real desire is to help everyone around the world with financial problems and I also think that he is not an arrogant person to claim that he is the one who created bitcoin. he is that kind of person, his only help is really.

And what is the point of Satoshi revealing his identity? I don't see any practical sense in it. Rather, let everything remain as it is to this day. If this was the intention from the very beginning, then it has its meaning and essence. After all, if the identity is known, then this will entail unpleasant consequences. There will always be those who want to destroy blockchain technology, since for some it is the tool that puts a spoke in the wheel of the traditional financial system. We have all been given a chance that can change the current world order if we really want it.

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Quote from: LogitechMouse on October 25, 2024, 04:06:00 AM

-snip-
Most of the time, the anonimity of the developers is considered a drawback for the legitimacy of the project, but there are some projects out there (altcoin) that despite the developers being unknown, there are still people who are supporting the project, and one of them is PEPE.

It has become a common phenomenon in crypto, about the anonymity of the developers of a coin such as the PEPE memecoin which in the end became a memecoin that is quite successful to this day.

Bitcoin is the same, and it's not about the developers but the technology that makes these coins survive, especially Bitcoin which makes the digital currency transaction civilization more advanced and decentralized.

But looking further, anonymity is also a dangerous place because many coins end up being rugs, and they just disappear.
I follow some altcoins whose developers have Doxed developers, so everyone will know that the memecoin is well-developed and has clear utility.

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Quote from: LogitechMouse on October 25, 2024, 04:06:00 AM

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

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

If it's a new project and the developers are unknown, there's a big chance that many will say that it's a scam, but not with Bitcoin.
The only anonymous is the creator, but the developers behind it are known in public.

As for why Satoshi doesn't reveal his/her/their identity, the main reason is for security purposes. Imagine what will the people do if for some unknown reasons, Satoshi revealed his/her/their identity in public and moved those 1M Bitcoins that Satoshi is holding. With how harsh people can be just to have those assets, they might end up kidnapping Satoshi or worse, even killing. I know it's too much, but people can do anything right now. It's good that Satoshi's identity remain unknown and let's just stay it that way.

Most of the time, the anonimity of the developers is considered a drawback for the legitimacy of the project, but there are some projects out there (altcoin) that despite the developers being unknown, there are still people who are supporting the project, and one of them is PEPE.

It's best for his own good, really.
I would say it's rather a pro, than a con, because who knows what would happen to the guy while the world knows what he got and knows himself. It would be a bad life for him from that moment on.

Topic: Why doesn't Satoshi reveal their identity? - page 3. (Read 1443 times)