Bitcoin Forum

I was just going through crypto news this morning an I found this

https://i.imgur.com/mYcNoDa.jpg

Honestly this is so messed up, of all projects in crypto space why privacy coin (Monero) don't get me wrong any privacy coin Dev shouldn't be known as the creator, this is why Nakamoto went into hidden and remain unknown till this day, why can't Monero did the same thing?

Now this Man is going to face charges for the rest of his life, More and more accusations will come, involving the government and more, he will hardly know peace, BTC is decentralized but Monero? Is another thing entirely

This is honestly a sad news.
More of a reason so as why Mr. Satoshi Nakamoto should not come out in any case possible. This is honestly messed up how the government is trying to keep that guy in jail, this is wrong on so many grounds:
1. The creators will now be wary and negative of the government and the people alike
2. Maybe in few days we will be charging for using coins like Monero
3. The whole community suffers, hands down, price will certainly go down and the investors are going to be in a pinch.
-Even if he does have a flight risk, it's not like he did hide his identity, everyone knows about him and they can track him down too. At least house arrest might be much kinder option.
Let's see what happens.
He should be given a fair trial the least.

Satoshi Nakamoto is smarter I guess, he went into hidden for a purpose because he knew all this will happen, decentralisation and privacy is the last thing the world order wanted, this will make the government go crazy, I'm not happy this happens to Monero now it's future is uncertain

I don't get the part where his a flight risk and being denied bail, it's already enough that he's caught and jailed. Plus I think it's unfair that they do this just because he created a coin that's probably used by a lot of money laundering groups since you can essentially turn into a ghost when you're using Monero.

First of all, Spagni didn't create Monero from what I've read.  Second, where does it say that he's being denied bail because of anything he had to do with Monero?  Did you put any thought into your post before you wrote it, or are you just milking the Bitvest campaign by doing the absolute minimum while making posts?

Spagni is going to be tried for embezzling funds, that's what I've read.  His charges have nothing to do with his association with Monero--but that's the only reason why this story is newsworthy, and it's a smear on crypto.

Nothing happened to Monero, and this doesn't affect Monero in any way.  What is it you people don't understand about this case?  Did you not look into it before writing about it as if you read the facts?

From Coindesk (https://www.coindesk.com/people/riccardo-spagni):

Thank you for clarification. I wasn't understanding the post at first. He isn't monero creator at all, just a developer

I read some news around, and the only real implication of Monero in all this incident is that he could use cryptocurrency to flee, so he might be having some tougher restrictions.

https://www.coindesk.com/former-monero-maintainer-fluffypony-to-be-extradited-for-non-crypto-crimes

No one knows the real reason why Satoshi Nakamoto went into hiding, we can only speculate about the reasons he wanted to be private. The rest of the developers are well known to everyone and there is no point in hiding if you have no criminal records or you are too obsessed to privacy and freedom.

Riccardo Spagni is not going to jail for creating a cryptocurrency that will offer privacy, if that is the case there will be other developers that are known to the general public and there is no legal action against them.

Riccardo Spagni is facing legal actions for generating fake invoices and if he has not done that he can prove that in court and come out a free man.

you are right, why a 'privacy coin' creator reveals his identity...

We all know that Monero is a very good privacy coin, knowing the identity of its creator, it is very likely that Monero will not be as private as it used to be. the government will definitely tell him to be more 'open' and that's definitely sad.

The first thing I wanted to google when I read the op were the charges against Spagni, and I'm glad that The Pharmacist already mentioned that the charges aren't Monero-related. That's a very important point because, indeed, the charges aren't even vaguely related to cryptos (https://www.businessinsider.in/cryptocurrency/news/crypto-billionaire-monero-developer-fluffypony-riccardo-spagni-arrested-for-cookie-fraud/articleshow/85007386.cms), as it's about some fake invoices for a company that makes cookies (the pastry). This ruins the anonymity argument because this guy would've been arrested even if nobody knew he worked on Monero. That being said, I think that Satoshi's anonymity was a good choice (if it was a choice) because it's possible that some authority would press charges over the creation of Bitcoin at some point.

I think the mystery surrounding Satoshi is better to keep this way. Because if his identity will be revealed, we don't know what other people may do to him. Unfortunately, this previous monero developer is not taking care of his business. Very ironic knowing the identity of previous developer of anonymous coin.
The news has not affected Monero in the market because he was charged not related to monero itself. And he was a previous developer, so not a current one.

That man can do the same thing as what Satoshi did, hiding in the hidden wall. We do not know why he does that and why he does not hide like Satoshi.

Hopefully, he can clear the mess without having trouble and the government will not force him or arrest him. If the government still arrests that man, maybe the other creator or founder will hide and not try to introduce himself to the public because that will be too risky for them.

People think that probability of scam is lower if you know the creator of project. Strange logic

He's not the creator, he's just one of the developers plus I think it wasn't because of his involvement with Monero that he was arrested and denied bail, something like embezzlement or laundering, something that involves money.

XMR can face some legal issues like being annonymous..
Scammers love this feature. I think the government would arrest Satoshi if he made himself known.

Will the government also arrest fiat money makers because of the many scam and criminal and illegal transaction that have been carried out with fiat money? How is it different from privacy coin like Monero or other decentralized asset? Should the government arrest them and imprison them because they are the creators? That's a crazy idea in my opinion.

Without the accusation and proof that led to the perpetrators breaking the law, there would probably be no need for arrests and neither would the government. There are other cases where they can be caught and jailed like scam and it is not because they are the creators of bitcoin or any other privacy coin.

Bitcoin has developers too why isn't anyone of them known till date? OP is on point if we think about this very well, no one should go out and says he helped develop any privacy coin, this should go on in silence

In fact, Mr. Satoshi Nakamoto, the inventor of Bitcoin, was a brilliant, rare, and highly intelligent personality that I think will not be repeated in the near future. He calculated all the economic and legal possibilities regarding Bitcoin and his personality as well. He was very smart when he did not reveal his identity and this was the source of his strength and the strength of Bitcoin as well. Satoshi has never succumbed to the temptation of fame and this is the secret of his success. Fame has a big tax and that's what happened with Monero's supervisor, Mr. Riccardo Spagni, now paying the price of his love of fame.

I think he really meant to be anonymous but was just associated with the username fluffypony just as Ross associated with username frosty. Letting himself known I guess is a mistake but it's true that he is a maintainer of Monero which is the most hated coin of the government. I remember they even publish a reward for anyone who could crack XMR.

He has direct contact with the real creator of XMR, is this the information that the authorities want from him? Or do you think they have evidence that Spagni is really not just the maintainer but the real developer?

Guys.... you do not understand the whole story...

"He is accused of defrauding Cape Cookies of around R1.4 million between 2009 and 2011 by submitting false invoices. Spagni, well-known in tech circles as the former lead maintainer for privacy-focused cryptocurrency Monero, has pleaded not guilty."

Let's compare this with Bitcoin...... Satoshi Nakamoto was the creator of Bitcoin and when he left ..he assigned the Lead maintainer role to Gavin Andresen (So, you cannot call Gavin the creator... he was just the lead developer for the project for a while)  ::)

Source : https://www.news24.com/fin24/companies/just-in-sa-crypto-developer-riccardo-fluffypony-spagni-denied-bail-by-us-court-20210819

I was also surprised by this post. Why a developer would be in jail for creating something that is not a threat to anybody. If he is really doing something illegal he should be punished by the law no matter whats his identity is.


Satoshi is a legend and he will be an unsolved mystery. He is also the creator of this forum and I heard he handed over it to thymos. Maybe early adopters or developers knew him. How a man could disappear like that.

OP, it's obvious very few people here are reading anything but the title of this thread and don't even care to look into the story, so you might as well lock the thread.  All of the dipshits who've posted that Spagni was arrested because he had anything to do with Monero are going on my ignore list, because it proves that they're just posting to get paid and thus aren't likely to write anything that I'd ever want to read.

To reiterate:  Spagni didn't create Monero himself, nor do his charges have anything to do with the crime he's alleged to have committed.  I put that in bold so anyone reading this won't post something stupid.

Well this one made me smile a bit, an $800,000 watch speaks a lot for the fact that he probably owns a good amount of crypto and what not. I have no idea in how far that information is confirmed, but you probably wouldn't spent that amount on a watch if you weren't at least double figures in the millions.

I guess they will hit him hard precisely because he is rich and he wouldn't most likely really bother to pay back the amount plus some interest. I'd say in front of a judge it is not that beneficial to be rich. Going to be interesting to follow that story.