Bitcoin Forum

One of the reason for high trust on bitcoin is that the bitcoin owner Satoshi identity is hidden. If all of sudden Satoshi come in the public and his identity is revealed, do you think it will have a bad impact on the bitcoin price and it can dump?  Or do you think that bitcoin price will pump on this revelation? Mind you that i am talking about the real satoshi, not the fake ones claiming themselves to be satoshi.

Is the price the only aspect of bitcoin you care about?

Bitcoin decentralization would receive a great blow if somehow Satoshi come back from nowhere.  He would become something like Bitcoin CEO or ambassor, and decisions would somehow become centralized on him.

Price is always hard to predict. In short term it even might go up. But in long term, bitcoin certainly wouldn't be what it is today.

Fortunately,  this is only a speculation and Satoshi will most likely never Reaveal himself

That's assuming Satoshi is still alive and participate on Bitcoin development/adoption. I fear more Satoshi's background/identity could be used to attack Bitcoin reputation.

The first sentence reads like a statement. Can you please explain why I can't trust bitcoin, knowing the real identity of who invented it? Maybe I don't understand something? Does this mean that I should not trust other discoveries, since I know the identity of the inventors?

Satoshi Nakamoto is anyone that contributes to bitcoin adoption, I mean the developers, the miners, those that are running nodes and everyone that is making use of bitcoin. Why revealing what is revealed already? Anyone that comes and says he is Satoshi, he is definitely lying. It is like that by the developer because they want bitcoin to be fully decentralized.

It would cause a short-term turmoil, that's for sure. After that it would depend on Satoshi's actions. There are many possibilities. Would he support the current course of Bitcoin development or criticize it? Will he step up as a leader of Bitcoin, or maintain distance? Will Satoshi even be contacted, or will we just know the name, while the person will remain unreachable? But I would guess that revealing Satoshi will be a net negative, the current structure of Bitcoin development with no central figures worked well so far, any disruption to this could cause damage to Bitcoin's community and Bitcoin's image.

There will be lots of scenarios, one is that he will be invited by leading scientist in the world to tackle and discuss innovative technology. I think not only blockchain is in his (Satoshi) head but there could be a lot and more interesting ideas too.
Well the price could be down but it won't stay that low forever as it will depend on his next moves if ever he ever shows up. What if he gives up on his bitcoins and shares it to the community? Or airdrop it to people who owns bitcoins already, that way the people would buy more right? There are good sides too even he shows up am I right?

I wrote about this (https://bitcointalk.org/index.php?topic=5349129.msg57454873#msg57454873) a while back.

Identifying Satoshi would be an ugly experience for sure. The smear campaign would be one for the history books.

well satoshi has a lot of bitcoins so you can already imagine how it would generate a big panic in the market if he revealed his identity, but it would be a temporary panic until people realized he wouldn't do anything. even if he sells his bitcoins and the price drops in the long term the price would bounce back so the impact of a satoshi comeback would be a negative impact temporarily

Its really a different thinking if Sathoshi revealed what kind of situation we can face .I think there is no chance more that the identity will be reveled .If he or the team wanna  expose themselves it could be happen within this time we are here spending .Its a long time have passed the crypto are running through out the world and get its popularity .If Sthoshi want we could see him in this time  .However if he exposed to the world there will be happen many things positively .We can get many more information and new different things of technology from him .I hope the market will flow positively and we can get more innovation.

THE reason of high trust of bitcoin is that there is no hidden code, no back door. no red button that can cause an instant sell off of all coin by any reference client dev

the "reference" client everyone follows is open source. (even if there is a hierarchy to who gets to edit or add code decisions)

the only issue remains, is that core is deemed the "reference" / core client everyone should follow and there is only a couple 'maintainers' that have the github privilege to merge code into final release candidate software versions which everyone follows.

but satoshi is not one of those maintainers, so it doesnt mean anything to the code/trust of the spftware if satoshi is found or not.
.. infact the real identity of the current core maintainers is known and no one actually cares about their privilege of merging code.
no one is in fear that those maintainers could be arrested and forced to hand over their github logins for interference purposes of changing code

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i do not believe that satoshi wanted to intentionally hoard and keep the private keys of his 2009-10 activities. because back in his day the coin had no significant value, thus they had no worth in hoarding

i believe due to making code edits and updates he probably lost alot of private keys or never intended to keep them in the first place. and so even if found. as long as no one finds his private keys or forces him to spend the coin. then the price will not change directly.

of course emotional speculation of social drama will cause some kind of indirect change. but that would be just a 'famous for 5 minutes' temporary price pump/dump. and become a meaningless wiggle on the price chart after a few days of correction

but with that said, i do not believe the creator kept wallet backup's of keys and so cant sign any utxo to spend coins nor even sign any message to prove himself(the only proof the community will accept) and so the creator will never be found/proved

If Satoshi would go public probably the price would go down since there would be a lot of speculation and many people could be afraid of Satoshi selling his bitcoins. We get daily FUD about pretty much everything, in that case it would be a mess, at least in the short term. Anyway I don't see a single reason why Satoshi should reveal himself now, disappearing was part of the plan.

Satoshi 's identity is not important to Bitcoin. From what I gathered he was just a fictional character, made by an extremely talented coder or group of coders. His place in Bitcoin was purely to start the program and offer tech support until it grew up enough to run on its own. If we knew the coders the world would not change, except maybe for Craig Wright and other imposters.  The fictional character of Satoshi is just that a mythical creature.  He will never be a real living person.  On the other hand, if we could make the imposters fictional characters it would be of great value to the project, since their lies have devalued Bitcoin's reputation. The association of Bitcoin to a person is not valuable.  Satoshi could very possibly have been artificial intelligence showing what it was capable of.

If the person turns out to be someone like Craig wright which I don't think might happen, people will ofcourse take a step back, but I do believe that Satoshi is a normal IT guy who made bitcoins with his friends and workers, he took extra care of the fact that considering the amount of bitcoins he holds, people can bring harm to his family members. Also there would be investigations by the governmental bodies which would be a bit extra as well, therefore it does him more harm than good to reveal himself. Therefore in the future the relevancy of his identity being a threat might be bleak since people would look past it definitely, bitcoins is bitcoins, it's much more than an invention or any sort or investment perse

I'll never believe that such morons can stay silent for so long. BTC creator is either a patient and intelligent person or he is already dead.

From what I've heard, the most realistic guess was made by Elon Musk. He claimed that Nick Szabo might be Satoshi (he is a high skilled cryptography expert irl). Such guess was made due to his linguistic research.
Source: https://markets.businessinsider.com/news/currencies/elon-musk-bitcoin-satoshi-nakamoto-creator-cryptocurrency-history-2021-12

Anyway, It is better to treat BTC and blockchain for their performance.

Bitcoin might turn from a decentralized coin into a centralized one if Satoshi comes out of nowhere. Another thing is we don't know if Satoshi is still alive until now.
With regards to price, since there is a chance that it might change into a centralized coin there might be a huge impact to its price but we don't know if it will be a positive or a negative one by I think more of a negative one. My opinion only though.

After all, I think its best for the real creator of Bitcoin to just stay hidden and unidentified because that would be better for him in terms of security as well as his life (since he is holding a million Bitcoins).

If Faketoshi can prove that he really is Satoshi, I might sell all of my Bitcoin holdings :D. JK

What?
Everyone knows Bitcoin was created by single person e.g. Satoshi, so it doesn't matter if he comes out now or in the future, Bitcoin will always remain decentralized. It's possible to change Bitcoin protocols, mechanism and switching POW to POS, but that's mean he need to change everything on Bitcoin. There are so many contributors and developers helping the Bitcoin development, not only Satoshi. Even Satoshi ask them to change it, I doubt all the contributors will agree with him.

I really believe and have considered almost everything franky1 posted above.

I never considered though that Satoshi may have voluntarily removed him/her self from
the project at an opportune time without leaving any chances of claiming ownership
of mined coins, this for the benefit of the project. Satoshi was definitely a forward planner,
they would have to be to create Bitcoin in the first place.

Knowing that the Satoshi identity could cause turmoil then and in the future would surely
mean walking away, closing the door and throwing away the key....forever.

So yea if it ever arose that Satoshi's identity was discovered or it was revealed
nothing would change in relation to the day to day operation of the protocol, but
the speculation in the market would be definitely noticeable.....short term.

I can't say anything about the price, but there would be a very bad impact on Bitcoin that we aren't ready for. Because due to low of different countries Satoshi would be in trouble. For example, if Satoshi is arrested by legal authority then imagine what would happen with Bitcoin price. On the other hand, criminals would attack him as well to Blackmail him and could retrieve BTC. For me, I can't see any positive impact revealed real satoshi identity. Then Bitcoin would become centralized like other Altcoins where is the chances of losing value.

OP, I don't think the world cares anymore about discovering Satoshi. Bitcoin is on autopilot, so to say. Whether Satoshi appears from the blues or not (that's if he's an individual and is still alive) doesn't matter any more. Bitcoin is able to attain it's height because of its security features which have earned it trust from the community. If anything, the world knows of Martti Malmi (Sirius) who's an important person in the development of Bitcoin but that hasn't in anyway affected Bitcoin. Malmi grants interviews and talks about Bitcoin and an insider but people don't seem to care what actions he gets involved in. They don't see him any differently apart from his ingenuity. Maybe that's how the world will react to Satoshi if he surprisedly appears on the scene now. What if in the likely case that Malmi turns out to be Satoshi, I still believe life will just go on as usual. Except for him who will be needing extra security around himself.

That should be it and not because Satoshi's identity is hidden.

This is already an aged topic. We all know how many Bitcoins are associated or known that is Satoshi Nakamoto owns like connected to his/her Bitcoin address during the early days of Bitcoin.
For me, if ever there will be transactions on related addresses of Satoshi Nakamoto, I believe there will be an effect on the price in the short term, it could dump I believe but a short time only. Overall, nothing to worries.

I don't think Satoshi's identity would have an impact on Bitcoin's price at all unless that Satoshi would declare that he/she would sell the Bitcoin that he/she have.
I think the only impact that it would make is if there would be another crypto project that "Satoshi" would make.

If Satoshi identity is revealed there will be much pressure both on Satoshi as person and the satoshi coin and also there will tempting offers by high profiled individual to make bitcoin centralized or even offer to sell the software or maybe other horrible offers and all this will affect the market value either positively or negatively depending how investors respond to the offer. So the possibility of the price t devaluate is dependent on the investors you and i how we react to outcome of his identity been revealed

Who is that guy claiming to be the real Satoshi Nakamoto ?  How can you say hius words are nonsense ? He might be using a nonsense terms to really hide his true identity. Are you speaking about Craig Wright ?

Why people in the Bitcoin community have great concern about the impact of revealing the true identity of Satoshi Nakamoto ?  What is his bacground ?  When no body know his true identity why then people worried about Satoshi' background ?  Who is going to actually attack the Bitcoin if the real Satoshi reveal his identity ?

This is definitely true. I also doubt that Satoshi would be able to at least influence the price by providing regulations imposed by him. That goes entirely contradictory on why he created BTC in the first place- which is financial freedom and control.

Assuming that Satoshi's identity is revealed, then I guess nothing big would impact. In fact, I also fear for his life since he may be the subject of all intrigues and searches when he gets revealed. In addition, I guess the price may also somehow affect given that his wallet address, up to this stay, still remains untouched containing thousands of BTCs.

Hello JohnBitCo,

Your article "Impact of bitcoin if Satoshi Identity is revealed" has cought my attention. I understand your concern. Now, you are only worried about Bitcoin price ! I can give you my forecast what impact can happen on the Bitcoin price and the Bitcoin market ?  If Satoshi Nakamoto need to reveal his itentity he will do it some how. Even after revealing his identity if he need to hide it again he can do that too. If the idenity of Satoshi Nakamoto creat a bad impact and Bitcoin price fall down a bit, say it drop 50% percentage; does it affect the Bitcoin ?  No, it does not. But how about Satoshi get a Nobel SurPrize on economic science ?  I am sure the Nobel Committee will give him a Nobel Prize. If that happen then what impact will take place on Bitcoin Price ? Can you imagine that ?  No, you cannot. Because you are wrried about your own stand. Satoshi Nakamoto supposed not to reveal his identity at all. But who decide if he need to reveal his identity ?  Not few Bitcoin community leaders who want to become Satoshi Nakamoto citing, "we are all Satoshi" . Well you all might have contibuted to bitcoin development but deffinitely you all have not invented the Bitcoin and Blockchain.   No body can become Satoshi Nakamoto. Satoshi Nakamoto is just a pseudonym used by the Bitcoin and Blockchain inventor and founder of this very forum. If he decide to reveal his identity - its up to him and he knows better the impact of Bitcoin if Satoshi Identity is revealed.

Therefore, people can say different things in different dregees but it won't change anthing. Bitcoin supposed to go to the Moon by 2020 but some Bitcoin community leaders and few imposters of Satoshi Nakamoto creating bad impact on Bitcoin. So, lets see what can happen ?

Some years ago when a topic like this was discussed a lot of people believe if Satoshi's identity is revealed the BTC in his wallet may influence the price of the market but with the current stance of the market, I don't think thats an option again. However, the only thing I think will be the problem if it happens his identity is disclosed is a possible attack on him (Satoshi) by Bitcoin haters which could impact the Bitcoin status.

The real strength of bitcoin in my opinion is decentralization not due to the anonymity of satoshi identity. If satoshi were a group of people it would most likely be exposed more quickly when they no longer have the same thoughts, but for me satoshi are individuals whose secrecy has been maintained until now.

When Satoshi's identity becomes public, the consequences are enormous for him. We will see his photo on a giant banner by the roadside as the bitcoin price drops and it is an inevitable part of his known identity. Fortunately, until now the satoshi has not been revealed so that there is no opposition to it from various parties (government, individuals).

Sell... The news!
Joking aside, when his identity would be revealed there would only be a great deal of speculation and a great interest in knowing aspects of his past Just tgo connect him to a very specific group and give a political interpretation of this invention.

we have all speculated about who he she they might be.

Certainly this is one of the most fascinating mysteries of bitcoin. revealing who is behind it would take away a bit of magic ;D
like as a child when you discover that Santa Claus does not exist!

Satoshi's identity being anonymous has nothing to do on why bitcoin is trusted but bitcoin is trusted because it's the first crypto and till now it is still there. it's also strong because no matter how low its price can go, it can still recover and increase more than its previous price. People get used to this trait of bitcoin, that is why they trusted it.

If ever satoshi pops up one day, it cant affect the price in any way (good or bad) but the price will still depend on the actions of the investors. Bitcoin is bitcoin, no change is going to be made on its system so no changes in its value is going to be felt. We know that what you mean is the real satoshi. We have no time entertaining the fake one.

Of course Bitcoin would be less stable if Satoshi was suddenly revealed and alive. If he was found to be dead for years, that wouldn't be the case, but alive Satoshi would bring some uncertainty to Bitcoin because he could be used by various people and governments to put a label on Bitcoin. It would be enough to put some child porn at his house and boom, you have a cryptocurrency made by a pedophile. You could throw in some drugs and you have money of a junkie made so that other junkies could buy drugs online. It's easy to put an idea in a bad light by shaming the author.

Chaos will certainly occur, but there are certain things that will certainly continue to be proven with strong evidence and that is not an easy thing. Truly damning solid evidence that Satoshi was actually real. I'm not sure if this will happen or will it really be a secret until we die. The fact was that until now, whatever class of authority tried to unmask Satoshi, it couldn't be proven accurately and ended up sinking just like that.

Please know that this is not applicable to other business, Satoshi maintain this as the sole purpose of his work is on decentralization.


That is not possible, i can only agree with that if Satoshi has been seen by people without them knowing he is Satoshi


His revelation has nothing to do with bitcoin price but rather for him to be kidnapped or apprehended by the government.
If the real Satoshi should appear now you don't have valid criteria to identify he is the one.

long before bitcoin was as big as it is today, satoshi had thought about it, he was a living genius.  if he/she reveals his/her identity then he/she will continue to be hunted by the government and even his/her family will be threatened, keeping his/her identity hidden is the best decision Satoshi has made to maintain the price of Bitcoin and also it existence.

No one really knows until it would happen but to know that Satoshis isnt even known after a decade then lets presume that he wont really be having any plans for showing himself on public.
Also we dont even know if he's still alive or long  time dead and this had been always a mystery when it comes to his identity.We do keep on speculating and guessing.
Speaking for the question whether bitcoin pump or dumps then it would be always on communities decision on how they would react if the creator would surfaced out.

I'm sure the figure of Satoshi will remain an eternal mystery, he will never reveal his identity to the public and no one can reveal it, speculation about his identity will only end in vain because no information about Satoshi was found until now. Although there are malicious groups dropping bitcoins by spreading a lot of fake news, one of which is the news that always connects Satoshi with every major transaction in the old wallet, logically many people still keep a lot of bitcoin long ago in hardware wallets for long-term portfolio.

Your reasons, not everyone else's, and if you're thinking it's really important to make a big impact, you're wrong. Looking back at it when we find out more about Blockchain technology as well as BTC.

Perhaps this person just appeared in your imagination. With the current popularity of this market, the Satoshi identity is always of interest and sought, but we all know they are all fake. And over time, the truth will no longer be of interest, and it will be truly anonymous. The truth of its origin should also be viewed as a creation from God.

If he shows up there might be some disturbance, people trust bitcoin because of its decentralization and Satoshi can't control the whole bitcoin so I don't think it can adversely affect it. Bitcoin exists and thrives to this day thanks to the worldwide community of bitcoiners.

We are grateful that Satoshi made bitcoin for us but at this point, bitcoin is no longer private to anyone including Satoshi.

People would start seeing him as the "leader" of bitcoin. So if he saying anything about bitcoin, most of the people will follow and support whatever he says. Even if he is wrong, people would support him since he is the creator of bitcoin. Bitcoin would somewhat lose it's decentralization due to people following one person. And yeah, in the short term the price will have some impacts. Satoshi might be able to easily manipulate the market either with his words or with the coins he own.

The price of bitcoin will take a big hit as the mystery of the creator will come to an end, the reason for this person or persons to maintain their bitcoin holdings becomes less important.
and besides that he will be the target of the bad guys, and will also be the target of the press all over the world. Because everyone who is involved or has ever heard of bitcoin wants to know who created it. That is, once found, the press will explore life and all media will focus on it.
and it will all definitely interfere with his life and Satoshi knows what will happen if it is revealed and he wants to live in peace, so he will remain anonymous forever.

It's because the Bitcoin network has continued doing its job without down-time, and maintaining its ethos/social contract with the community.


I believe no one would care who Satoshi is. The community might care out of curiousity, but not to decide whether Bitcoin is "good or bad" depending on who Satoshi is. That would be laughable, and stupid. Would you dump Bitcoin if it's proven that Satoshi is Hal Finney or Adam Back?

I honestly believe that he is dead. I believe it was Hal Finney, and since he is dead (though cryopreserved) I believe that satoshi is dead as well. I get that he was the first person to ever receive bitcoin from satoshi, which makes people question "why would anyone who wants to hide who they are, would send it to their public name as the first transaction" but I think that was an obvious way of hiding, he was trying to say "it's so obvious that it is not true because it can't be that simple".

Have we heard from satoshi since then? Like officially? I think he wasn't heard as far as I know. It is a probability that it was him, and he is gone, and that money is gone. If any miracle happens and if Satoshi comes back, then I guess that would stir up this crypto community which will trigger more massive adoption somehow in my opinion.

Yes, the strength of Bitcoin was in decentralization, no censorship, etc. But, the anonymity of Satoshi keeps Bitcoin's reputation cause if the identity of Satoshi is revealed we will see some organizations that will make die threat or bring up a criminal case against Satoshi just to ruin Bitcoin's reputation.
Meanwhile, it is hard to know if Satoshi is a group or an individual, and Satoshi's identity not knowing his identity now does mean justify Satoshi to be an individual.

satoshi has no control of the bitcoin network. there is no backdoor that he has access to. so a government cant do anything about it if he was found. there is no threat or harm

satoshi is not hiding due to any threat of government grabbing him. he just didnt want to be seen/treated as a central reference point back in 2010 because some people were blindly following him, which went against the point of bitcoin

in recent years however, there are 3 people that do have the github control of the main reference client software upgrades, which pretty much everyone blindly follows.., they are publicly known people and yet governments are not chasing them. so this proves that the government are not bothered about gaining control of things like bitcoin core

if the government wanted to grab someone that does have some form of control. it would be those that have the github access to implement new release candidates of bitcoin core. however governments can simply make a court order to hand to github itself to gain access to github. and again this has not happened, thus no real threat.

Satoshi gave the code away to public. He is not controlling the code base or it is not closed source.
What difference would it make if he shows up to a party?

PS: What if he is actually a Washington insider a closet politician / coder?

I agree partially with what you have to say.
If Github is compromised like that. They will just fork the code and new chain will continue.
How many bitcoiners/miners want to be part of the Government Bitcoin chain?

if we want to play tinfoil hat hypotheticals.. lets go

if government gained access to github and compromised it. yes people will just use a different software development site to distribute open code from. however people would lose trust of the new source. and it would take time to build up reputation to trust the dev team and the code they have moved to the new development site.

yes the code is open and anyone can review it. but currently people just review the changes that are added to github per release, and dont actually re-read every single line of code per each release. however changing to a new development tool site, means people would initially need to review the entire source code line by line just to be sure its the same as the old sites version. .. so it would take time to trust a new release candidate from a different development tool site

IMHO, it doesn't matter anymore. Bitcoin relying on its value would depend now on the community together with supply and demand.
So if Satoshi shows up, it's possible that there could be temporary dump. But we know what else could come next to it, everyone would rush to buy those cheap bitcoins or the financial institutions that have been doing that are the ones to do it for us.

if satoshi wanted to stay anonymous while also "cashing out" (if he had the keys). he would not sign up to some mainstream exchange and input his bank details and KYC stuff. instead he would use an OTC service with someone he trusts.
these OTC services do not affect the mainstream exchange market prices. because they are 'off-market' methods of trading coins.
EG if he was willing to dump 1milll coins and was willing to accept just $1k a coin(becoming a billionaire). knowing dumping on a mainstream exchange market would cause such a drop with just a few thousand coin sell off anyway. he could easily find a few large investors on the OTC services willing to take that deal and keep his identity a secret, whilst not directly affecting the exchange market price.

what would happen is that the social drama of speculation would cause some idiots to panic sell thinking the coin movements is an impending exchange market sell off yet to come. and so indirectly cause some social drama dump that will correct back up once emotions have relaxed after a few hours/days

Yeah, as said, there could be a temporary dump after he's shown up. But for years of having that 1 million bitcoin in pieces, in quantity. If he really has the intention to sell then he have done that already when bitcoin reached its thousand dollar value for the first time. Someone who's happily going to cash out with that amount just like us, we're the same in thinking that it has been done already. But just like what I've said, the market is now in the hands of the community and as well as the whales portrays a role still.

Why will they do that, why will they threaten the guy when the guy is innocent and didn't do any bad deals with them. It's only in their head that they think satoshis creation bitcoin have impacted their business badly but the truth is it didn't. Why can't they just improve their own creations so that it will perform better and maybe people will stick more to it.

If let say that satoshi revealed himself one day and he will get arrested or what, btc will still be btc and I think btc will become more stronger because people are showing that they are with satoshi. If there is something that they can help, that is by investing and holding more bitcoins.

I dont think Bitcoin value and its demand would get decreased if Sotoshi is identified. I am sure Bitcoin's growth was depending on its network and etc. Yes there were lots of struggles in the beginning but then yes the growth has been amazing. Everyone would greatly welcome Satoshi. He will be looked up on unique and yes he will be spoken in history. But I am sure the demand for it will not decrease.

You have a point but to understand some people don't like their competitor to thrive more than them and when such things happen the only thing they will be after is the downfall of the project creator cause they know they can shut down the project is the leader found guilty of the crime planned by them.

This also happens in the cryptocurrency ecosystem where some projects experience double-spending attacks which are mostly executed by competitors.

To some people, this is never an option.

I think on the reason why he/she got arrested but I am sure some people won't stop until they take him down and also find something to make Bitcoin more restricted.

Well, as in any traditional system, when Satoshi's identity is revealed, it results in his being arrested without saying a word, therefore for me it is much better for him to remain anonymous, both for the market demand to continue to increase and for that he never give governments the pleasure of seeing him behind bars.

In addition, the Bitcoin market has been going on for more than 10 years, it is proven that it is not a bubble and that it is being regulated by the governments because they know that the BTC at any moment could reach a taste of $100k.