|
Title: Does Satoshi's anonymity give Bitcoin an advantage over altcoins? Post by: Scottoshi on April 26, 2016, 11:23:23 AM Is this true? Are there any viable alts that have an unknown creator?
Q: Unlike other cryptocurrencies, Bitcoin is not only the largest network but its creator is unknown. Does this give it a relative advantage in terms of being shut down by authorities? Quote Tone Vays: It gives it a huge advantage. Governments can be very ruthless when they are threatened. If ALL Bitcoin development ended tomorrow, the system will remain fully functional for a while. You can’t say that about any other alternative. Bitcoin was also one of the few coins where the creators and early adopters did not set out to get rich, it happened organically as most were not sure it would even work. If ALL Bitcoin development ended tomorrow, the system will remain fully functional for a while. You can’t say that about any other alternative. There is no place in the world where it is legal for regular people to print money so I expect all those people that wanted to be famous for starting an alternative token that had value from the start to face significant legal issues in the near future. It’s all fun and games until you get thrown in a cage. Just look at Charlie Shrem and Ross Ulbricht. I’m sure more readers feel they did nothing wrong (including myself), but those with guns don’t care about our opinions. From the full interview: https://news.bitcoin.com/tone-vays-90-bitcoin-cos-meaningless/ (https://news.bitcoin.com/tone-vays-90-bitcoin-cos-meaningless/) Title: Re: Does Satoshi's anonymity give Bitcoin an advantage over altcoins? Post by: Lauda on April 26, 2016, 11:27:22 AM I don't think that it does. Why would it?
Quote Tone Vays: If ALL Bitcoin development ended tomorrow, the system will remain fully functional for a while. Title: Re: Does Satoshi's anonymity give Bitcoin an advantage over altcoins? Post by: ebliever on April 26, 2016, 12:36:41 PM Bitcoin is decentralized. The feds could arrest Satoshi, torture him and threaten to execute him and it would be irrelevant so far as the bitcoin network is concerned. He has no control over it. The same holds true for most/virtually all altcoins - once released, the creator can't "turn it off" so long as someone wants to mine/stake it.
Title: Re: Does Satoshi's anonymity give Bitcoin an advantage over altcoins? Post by: Quartx on April 26, 2016, 12:42:07 PM How do you shutdown something that is decentralized? Shut down 8 out of 9 million nodes, as long as 1 node survives or someone has a backup of the blockchain, if he is trusted, no authority can shut it down. And whos to say that the authorities do not have holdings in bitcoin since the beginning? For all we know the head of security services might be sastoshi
Title: Re: Does Satoshi's anonymity give Bitcoin an advantage over altcoins? Post by: chek2fire on April 26, 2016, 12:43:34 PM yes because bitcoin has not the single point of failure problem
Title: Re: Does Satoshi's anonymity give Bitcoin an advantage over altcoins? Post by: Denker on April 26, 2016, 01:00:31 PM No I don't think so. Even if we today would know who Satoshi is and he would get arrested for bringing financial freedom to mankind, Bitcoin still would continue to exist. Reason is that thousands of developers from all places around the world are contrbuting to it's development.
The only cool thing is that Satoshi's unrevealed identity seems to have something mystical which attracts many people, especially journalists. Title: Re: Does Satoshi's anonymity give Bitcoin an advantage over altcoins? Post by: garmerys on April 26, 2016, 01:05:37 PM I think it doesn't matter whether Satoshi's is anonymous or not, because Satoshi doesn't create bitcoin to make profit while most altcoin creator/devs make their altcoin for profit in BTC/Fiat. Also, every altcoin is based on bitcoin, only few of them has something new which is useful. Yes i agree that it doesn't matter whether Satoshi's is anonymous. Title: Re: Does Satoshi's anonymity give Bitcoin an advantage over altcoins? Post by: thend1949 on April 26, 2016, 01:07:29 PM Is this true? Are there any viable alts that have an unknown creator? I think no, theres no advantage to all currency. The advantage of this bitcoin was this is the first crypto currencyQ: Unlike other cryptocurrencies, Bitcoin is not only the largest network but its creator is unknown. Does this give it a relative advantage in terms of being shut down by authorities? Quote Tone Vays: It gives it a huge advantage. Governments can be very ruthless when they are threatened. If ALL Bitcoin development ended tomorrow, the system will remain fully functional for a while. You can’t say that about any other alternative. Bitcoin was also one of the few coins where the creators and early adopters did not set out to get rich, it happened organically as most were not sure it would even work. If ALL Bitcoin development ended tomorrow, the system will remain fully functional for a while. You can’t say that about any other alternative. There is no place in the world where it is legal for regular people to print money so I expect all those people that wanted to be famous for starting an alternative token that had value from the start to face significant legal issues in the near future. It’s all fun and games until you get thrown in a cage. Just look at Charlie Shrem and Ross Ulbricht. I’m sure more readers feel they did nothing wrong (including myself), but those with guns don’t care about our opinions. From the full interview: https://news.bitcoin.com/tone-vays-90-bitcoin-cos-meaningless/ (https://news.bitcoin.com/tone-vays-90-bitcoin-cos-meaningless/) Title: Re: Does Satoshi's anonymity give Bitcoin an advantage over altcoins? Post by: enhu on April 26, 2016, 01:11:17 PM His anonymity don't have any advantage as far as i can think of but the coins that he didn't spent matters the most. that's what differs him from vitalik of ETH.
Satoshi may have probably lose his key purposely to protect BTC's value. Title: Re: Does Satoshi's anonymity give Bitcoin an advantage over altcoins? Post by: Labumi on April 26, 2016, 01:17:54 PM Is this true? Are there any viable alts that have an unknown creator? Q: Unlike other cryptocurrencies, Bitcoin is not only the largest network but its creator is unknown. Does this give it a relative advantage in terms of being shut down by authorities? Quote Tone Vays: It gives it a huge advantage. Governments can be very ruthless when they are threatened. If ALL Bitcoin development ended tomorrow, the system will remain fully functional for a while. You can’t say that about any other alternative. Bitcoin was also one of the few coins where the creators and early adopters did not set out to get rich, it happened organically as most were not sure it would even work. If ALL Bitcoin development ended tomorrow, the system will remain fully functional for a while. You can’t say that about any other alternative. There is no place in the world where it is legal for regular people to print money so I expect all those people that wanted to be famous for starting an alternative token that had value from the start to face significant legal issues in the near future. It’s all fun and games until you get thrown in a cage. Just look at Charlie Shrem and Ross Ulbricht. I’m sure more readers feel they did nothing wrong (including myself), but those with guns don’t care about our opinions. From the full interview: https://news.bitcoin.com/tone-vays-90-bitcoin-cos-meaningless/ (https://news.bitcoin.com/tone-vays-90-bitcoin-cos-meaningless/) Possibly, but it also depends on the user. Since the emergence of the Bitcoin everybody still very confusion to use the means of payment which is very good, so the chances of everyone using Bitcoin. Because of the Bitcoin as a solution for those who seek a means of payment confusion are complex and not because the creator to hide. But I also argued if something is not bound by any organization, Person, company, etc. then it would be extremely good. because it does not seek profit for yourself, your organization, or company. Title: Re: Does Satoshi's anonymity give Bitcoin an advantage over altcoins? Post by: Lauda on April 26, 2016, 02:03:13 PM yes because bitcoin has not the single point of failure problem Knowing Satoshi's identity does not have an effect on whether Bitcoin has a single point of failure or not.His anonymity don't have any advantage as far as i can think of but the coins that he didn't spent matters the most. Correct. Bitcoin is decentralized. The feds could arrest Satoshi, torture him and threaten to execute him and it would be irrelevant so far as the bitcoin network is concerned. He has no control over it. T That is what makes Bitcoin as strong and resilient as it is. Unless they're able to shut down all the nodes and mining operations at once, it will continue to operate.Title: Re: Does Satoshi's anonymity give Bitcoin an advantage over altcoins? Post by: gentlemand on April 26, 2016, 02:31:32 PM Is this true? Are there any viable alts that have an unknown creator? Plenty of alts have unknown creators, usually because they're trying to steal your money. Among those who aren't, Sunny King who came up with Peercoin is a man of mystery as was the creator of NXT and a few others. It's pretty much the norm. Maybe it's a fashion or they know something we don't. Title: Re: Does Satoshi's anonymity give Bitcoin an advantage over altcoins? Post by: maokoto on April 26, 2016, 02:35:41 PM I think that there are some altcoins whose development has stalled and are still being traded an all. They surely will not last long, but that is due to them not being popular enough, not because of the stalled development, I think.
|