Bitcoin Forum

Any info on this?

Did he (or his co-creator like theymos) foresaw the coming of other Cryptocurrencies?  Is there any where he use the name Altcoin or similar names? Just curious...

Huh that is something that I never considered before and I too am truly curious as to whether or not this was thought through before putting out the bitcoin paper. I would imagine that there was some thought on the idea

but not sure whether they had coined a term for it because lets face it as dominant as bitcoin is to have it be standalone in a market would be pretty crazy. I dont think they would have imagined altcoins growing to 1k+

and ongoing but still I think there would have been solid reasoning for bitcoin market to have up to 50 coins or something like that.

the satoshi goal was make people knowing the blockchain technology and it's benefits!

i think he or she expected that altcoins are coming with more improved tech than bitcoin itself!

Yes I also think that he knew that his technology would expand beyond bitcoin.
He had the vision to see its potential and the skill to put into action,
I am sure he could see the wider potential also

Maybe he is behind some of the recent and most successful and anonymous alts.

Given that the code is open source, I am sure that he foresaw that similar coins could be launched. Only when Bitcoin became wildly successful that launching altcoins actually make sense. At that point, Satoshi had stepped back from the Bitcoin scene.

Probably yes, he invented this whole community and copies has always existed, this is not a new thing that is just an innovation, copies have been existing for more than thousands of years.
And it is not bad, there are some altcoins that changed the whole market, like ethereum, monero, and litecoin, because they improved the technology a lot.
but there are some that have just been created only to raise money, and this is why all the altcoins that are newbies ones are a waste of time.

When he created a technology like this, he open a new chapter for developers and geeks to task themselves to do more. A lot of the development we see today while some are for the advancement of the technology while others are to reduce its continued dominance the fact is he must have know about it and if he does not want to allow it, then it would not have been possible for anyone to break either fork it,  make it better, or create a new platform on it.

Bitcoin is an open-source project anyone could copy it and make their own altcoins. So, yes they saw the potential for the rise of other coins.

Everybody knew that altcoins were going to change everything, and there is nothing new with that, yes, as the other user said, there have been some coins that changed the whole perspective about the cryptocurrencies, and some of them are just creating a dissaster on the whole community.
but i dont think that he knew that, probably when he created bitcoin he didn't knew that it was going to be a succesfull project, i dont know.

I agree.

They definitely saw the possibility of the coming of altcoins. Thinking of that, what was the first altcoin again, IXCoin?

Yes he knew and encouraged it. It was specifically to encourage further developments if the original project got compromised and also was open source because IP implies ownership and potential issues associated with that. Ultimately, the marketplace will determine what coins are used going forward.

This is a very nice question mate.

Personally, I don't think that the great Satoshi didn't see it coming. I don't think that he mentions something like altcoin in his p2p paper. Maybe it didn't crossed their mind in the beginning that their would be altcoin besides bitcoin. However, bitcoin code is open source, so there's also a possible that someone will 'fork' a new coin out of their original coins. But for me they didn't see it coming specially when they are creating this coin.

Probably Yes, as other says that the code is open source which anyone can use the code to create another coin. Satoshi is smart and i think he foresaw this thing will happen.

Yes satoshi knows that altcoin will come. bitcoin is the only eye opener for block chain technology and cryptocurrency.

Maybe that is the reason why satoshi leave the bitcoin development and gave it to others

Am pretty sure he know that altcoins will follow through the moment he put the bitcoin code out there in the public for us to learn from ,and for a cryptocurrency like bitcoin to show strength we really need these alts as a supporting becons as its a feature of decentralization.

I believe that Satoshi predicted the coming of Altcoin, however, not to this extent with the creation of so many ICOs. Altcoins are a welcome competition for Bitcoin to promote the industry overall and Bitcoin in particular that as the first coin is the main beneficiary of the industry growth. 

Given that the blockchein technology is based on open source code and virtually everyone has access to participate in the creation of new crypto currencies, I think that Satoshi Nakamoto foresaw the possibility of creating other crypto-currencies based on this technology and that these crypto-currencies will continue to improve. He only showed us the possible way of developing the crypto currency.

I truly believe that Satoshi Nakamoto predicted,to the first day he develop crypto currency he foresighted that there will be another currency that follows based on this technology.

Most likely yea, He's smart. I mean satoshi release it as an open source software, source code is transparent. So there's a big possibility that in the future that a project will be derive from bitcoin.

I believe that bitcoin will be for global transactions, and satoshi for small calculations, for example payment of a phone or Internet or a refund to a friend.

Bitcoin is open! The code is out there to see and for everyone to contribute to. The copying of bitcoin code is going to be nature that is why we see a lot of altcoin today. The open source is also stimulating growth for better both now and in the future.

There's no way that he would publish an open source project and not expect others to follow in his footsteps. Especially someone so legendary should have seen this coming, he planned for so much I really can't see how he wouldn't have planned for this. I don't think he wanted to start any altcoins though, that makes sense because he was starting literally the first cryptocurrency!

I agree with him, and I guess he did foresee the coming of altcoins. Technology is always advancing and new innovators pick up where their predecessors left up. Since the copies has always existed, its just exciting to imagine that Satoshi left the copies for others to discover and explore and advance further.

This wise man sure expected that Bitcoin will change the world and make its corrections in the system of payment. However, I am sure he could not imagine how great these changes will be.
Yes, he could foresee Altcoins appearance, as we could suppose that other people could repeat his project.

Santoshi must have definitely considered that more blockchaint tech based coins would come into play in the future. I think santoshi paved the way for the next generation to make/build the best new blockchan based crypto currency and take power back into our hands from banks.

I think he assumed the appearance of other coins with blogchina own, because their appearance would be logical.

Yes it is,he's the creator of blockchain so expected he must know in the world of crypto.As technology rises many were given an opportunity to create an altcoin based on blockchain that helps a lot of people that want fast transaction and lowest fee.

If you create something new and can not get a patent on it, then it is only a question of time until imitators will copy your idea. Considering the many other altcoins, bitcoin still has a very good position and I doubt that any competitor has enough money to overtake the popularity of bitcoin in the foreseeable future.

I think like any great inventor/pioneer he would've been aware that if successful his idea could be adopted and advanced in ways he could not currently think of.

I think he has predicted it. After the creation of Bitcoin and became popular many people followed it by making new coins called altcoins.

An interesting question because I have never heard such information. Has come to this market by accident)

Agreed, BTC still faces a large issue with scalability. I'm sure Satoshi knew that mass transaction for global use was something that needed to be refined, you can even see early discussions that satoshi had with the community regarding this issue. Having BTC open source leaves BTC as a great idea to be shared and refinedd.

May be have or not! Buy altcoin change the wolrd of money! Best way on internet!

This is a good question. I wonder how Satoshi thought of the future of blockchain. Perhaps if he was really optimistic about his invention, he must have foresaw that the future will be adopting and using blockchain. My wild guess is that Satoshi had already an inkling that there will be many other cryptocurrencies to be invented following his footsteps. However, I seriously doubt that he already thought beforehand that crypto land would be this messy and overpopulated. 

Yes.  From what I understand.  Bitcoin was not the first digital currency.  Here are some of the digital currencies that existed before Bitcoin; Digicash, Paypal, Webmoney and egold. 

Now, I am sure Satoshi new of and Bitcoin even has some similarities with those earlier coins.  So I would assume he knew other(alts) would come after.

There are some attempts to create virtual money before bitcoin is created. what if these first created virtual currency is successful? will the bitcoin be called an altcoin? Satoshi Nakamoto might knew that there will be more coins to be created as the use of the blockchain and other technology will continue to rise in the future.

Of course he did.  He just told me.  He's my neighbor you know.  He has a really cute dog.