So is this Satoshi a person? Or a group? Or has this been determined yet.

I have come to understand a lot more about BitCoin, and it's reason for being; however, has the 'who is the creator' actually been answered?

I see references to groups, individuals, even the range of the founder of MTGox through Max Keiser. Is this still a mystery? Or has there be a resolution?

If it has not been answered, perhaps a look at the language itself; I am trying to determine if perhaps it's more, possibly.

When I look at Satoshi Nakamoto, and I have seen in an above post that this maybe a jumble of corporate names, but:

Could it be that Satoshi, was meant to be: Shatoshi?  In which case (Sha) (to) (shi) would translate to: "I am with the database"; and Nakamoto 'could' be seen to translate as, when the characters are seperated to individual kana: (na)=do (ka)=you (mo)=as well (to)=and.

In which case "SHA"toshi Nakamoto could be interpreted to say: "I am with the database (Network/system/source.. etc)" "and you should be to; or -And you should be aswell"; which would entirely support the philosophy of use and useage and community and trust.

This little unit now declared/known as the "satoshi" or the "shatoshi" would then as well be part of the "I am with the database", no? As a Unit?

Just a thought? Any others?

Interesting.

Here's an interesting selection, in my view anyways, if you haven't read the book it is: The Theory of Money and Credit, written by Ludwig von Mises.

A quote (in RE: the Gold Standard, or any 'standard')

" "The gold standard did not collapse. Governments abolished it in order to pave the way for inflation. The whole grim apparatus of oppression and coercion, policemen, customs guards, penal courts, prisons, in some countries even executioners, had to be put into action in order to destroy the gold standard. (The Theory of Money and Credit, p. 461)." "

To let the masses 'have wealth' would indeed be a disruption of what wealth 'is'; which would lead to renovating the constructs of power; it "this 'money/currency' must be 'hoarded' it must be 'controlled and dispersed'? Is this not the reign that steers the population? How can we imprison a thief, if first we do not create him/her? Must they not have something to steal? Yes, something worth something, something that has 'ascribed value' (we say it is valuable therefore it is) not 'intrinsic value'; for if this person were allowed to trade their time, trade the wheat they grew, trade the bead work they made, would this not be allowing them to 'have power' and 'trade freely amongst themselves or with whom they desired' without need of interference by 3rd parties, gov't, legal, regulatory, or otherwise? But then how to fill the government coffers? Make government more efficient? Nay. That would be much too practical and too many highfalutin bantering monkeys would fall from the tree and slip on the banana peels under their feet, instead of flinging monkey dung at the passers by whislt they eat their sweet bananas and scratch their A$$e$.

Is money not akin to a handcuff? Bitcoin is a great key to the handcuffs, and has provided temporary relief, but that does not mean there will not be a new handcuff. This is the illusion of freedom, no?

Just a passing thought.

A Great Example from a resent email question.


Question: Are you guys talking about like Star Trek's Latinum?

Answer: Yes, you could say that.  Where in Star Trek you hear and see episodes where no money is exchange, but there are Federation Credits.

You will see throughout the shows though that there is still a standard that applies 'outside of this federation'; and that unit they use is Latinum.

We see it much the same way: Bitcoin is a System and a Unit of Exchange, payment or transfer (Much like the Federation Credits System); but the Real Money is still in the latinum; You may remember always hearing the Ferengi say: "NO, We Demand Latinum".

We hope this has answered your question!

As 1 functional part of everything yes; but that is just one of the processes that would be required; there would a legislative, compliance, regulatory, etc sets of extensions that obviously would have to exist; and which we would love to work on.

A scrip, as an issuance of last resort, in case of let's say power going out, or the bill becoming so exceedingly high that you could not turn on the computer, would be required; though it would not have to be 'paper' necessarily; a chip; a magnistrip card, hard asset sales for recovery; but it's a 'component' of a larger 'unified' set of 'organizations'; decentralized things still need 'transport and transaction' mechanisms; these of course would have to researched as well.

The 'scrip' in this case would be a 'privately issued' currency note; one which is aimed at let's say the bank in canada, or usa, or africa, who has a client to directly interact with eachother, independent of the current systems. Direct Bank To Bank exchanges, transfers, transactions; in any currency obviously for use, and with the 'scrip of our creation' as the unit we peg to.

I suppose you haven't kept up with the reading; we have already said it is 'in line with a credit union'.

From another conversation held elsewhere:

Question: So are we using Euro's, USD's, Yen, Pesos?

Answer: No. Let's name our product a Kwatloo, for example. It's a Unit Of Exchange. Just like money, say Euro's, USD's, Yen, Pesos, and the like. The difference is unlike other currencies being linked to eachother, as currencies, we would back our "Kwatloo" with assets.

This is much akin to the Old Gold and Silver standards; which are actually not that old. But the lifecycle of any Paper Money which is Not Asset based is typically between 30 and 50 years. As we see now currencies are starting to devalue, or revalue, the price indexes suggest that we are doing fine, but really you are buying less today then you were just 1-2 years ago. Not because of price increases, but because of product quantity decrease by the manufacturer so they can absorb some cost, to recoup as profit; no one wants to pay $5.00 for a KG of Peanut Butter, but you'll bay $3.99 for 650 or 750 mls, as long as the jar looks the same; it's a trick. This means the price actually increased.

Now, let's say that these "Kwatloo's" were not linked to a dollar, or a euro, or a fiat currency; let's assume they were based on 'things of value'.

Let's say that 1 Kwatloo was worth, as the not too recent times, worth X amount of Silver, or Gold.  And that instead of Gold, or Silver, there was an Internation Exchange Unit which acted the same; like a silver certificate, or a gold certificate. It's really no different than any other currency; excecp that the currency has 'real value'; it is 'worth more than the ink on the paper'.

Let's say then that you went out to pay your rent, which is say $1500.00 USD. Let's say this EU1250.00, or let's say it was 2 "Kwatloos"; it's simply a new type of "real currency". Now let's say you travelled to China, or Russia, or Mexico, or Brazil, and they had an open foreign exchanged that recognized, or had added our Internatinol Exchange Unit; you could theoretically use it anywhere.

If the dollar drops, the Kwatloo would not, if Gold drops, the Kwatloo remains balance or neutral against the counterweights used to valuate it, thus maintaining an evin keel, even in choppy financial waters.

It could be 'transfered' by using Bitcoins equivalent to the Unit; For convenience at this point we simply use the Present Currency Labels as a familiar reference point.

Now - Let's assume the dollar hits 50 cents, and let's assume the yen vanishes, and let's assume that the Renminbi, an eventual gold backed currency comes in, and tears up what's left of the precious few cents on the dollar, the euro, and the gbp. The "Kwatloo", is in a postioin that in succh a case it would weather the storm well, and would be worth the 'let's assume for example's sake' the same value as 1 gram of gold.

But instead of hoking and chaining to One Thing, we would use a variety of things; forming a floating "basket".

A good way to think of it would be to see it as a 'private' currency, for the moment.

If you have any other questiosn, or need further clarification please let us know! Thanks for your interst!

Well see this is where theory and concept work are a lot of fun.

Let's say that you make a transaction, and there was a minimal fee - now this is a just VERY Wild and outrageous example; but none the less makes it rather clear we think.

From your transaction we gain a fee. Now let's assume we use that fee, in part, to buy a packet of seeds. And let's say those seeds are planted, and they yield tomoatoes. In turn the tomatoes get sold. This yields a revenue. After the seed sale and farming and expense, etc., are paid, let's assume there is a profit.

The bank, having engaged in the producution fo the seed, through perhaps a 'branch of it's operations' like starting small businesses; would be paid a portion of those profits.

The bank then, rather than being solely concerned with gaining money, seeks to gain profits, and redistriute them across the accounts, in a more a humanistic harmonic manner.  Not with One Sole Goal of profits, but to make profits, and share them across the accounts as benefits or bonusus.

As I said wild. But clear.

Edmonton is in a slump, as most of North America, en masse, but there are pockets of great value preservation everywhere if you know what you're looking for; as anyone investing in property would be aware. My acquisitions have doubled in the past 36, which is actually a bit above what I personally had predicted. That's just a good purchase, based on good understandings of the facts and the information as it relates to the risk assessment, profit/loss requirements, and other such elementary decisions; but I'm not locked in to a mortgage, as all my acquisitions are by Private Note, allowing better terms to be negotiated, not being left to the mercy of some merciless broker. it simply suggests that you are in a good pocket, and that there is opportunity in your geographic marketplace, that doesn't mean all of Toronto is doing well, which overall it's not really, but it's resilient, and I must say more resilient than Vancouver, but that is to be expected.

That lessens nothing, that's just smart decisions and utilization of expertise.

But if you found a mortgage available from China, that was willing to finance you, at better terms, and you wanted to transact with them conveniently, BitCoin and and International Trade Unit would facilitate that much better than any current fiat currency can.

But I'm glad you are doing well with your acquisitions, and hope your ROIs will yield what expect them to.

Always the cheerful party aren't you Tate. I hope you are enjoying your brew.

Perhaps A Basal Overview of the theories and concepts may be in order at this point. This was written entirely on the fly, so forgive me for being brief and not overly descript.

I's not a grand idea, or anything spectacular; what it is though is an attempt to remove borders. To Modernize.

Let's say that you go out your door, walk across the street, or get in your car, and go to your local bank (A Big Bank, or a Little Community Bank or Credit Union).

You Deposit Your Money to your account, any account you may currently hold.

You make a purchase somewhere; maybe by POS Transaction, or by Cash, or by Check (For those who use them), etc.

This purchase let's say is for a car.

The car has a stick price, a value.

So you get your check book out, or your debit card, or you cash, and purchase your car.

The transaction concludes.

Pretty simple, and it's how the world works at the moment; basic fundamental rudimentary services.

Now, the car has a value, let's say $20'000.00 USD, or EU15'000.00, or whatever.

You find a deal overseas, or locally, or anywhere.

You choose to contact the seller of said item, and they say, sure we'd love to sell you the car.

Excellent, you have saved some money (how you get it to you logistically is not our concern, that's up to you, the import charges imposed by governments, taxes, tariffs, etc, ad infinitum).

But, let's assume you could complete and conclude the transaction in an Internationally Standardized Unit of Exchange. For all intents and purposes let's just call it an International Exchange Unit.

And, let's say that BitCoin was used for transactions, instead of Cash, Check, POS, etc, etc., ad infinitum.

Now: There are some (well lots of) systems which inter-operate; there are governments and their laws, fees, levies, etc, etc., there are regulations, there are foreign exchange rates, there are a plethora of intricacies - but they only apply to the present systems that are currently in place).

Now: Let's assume this Inter-nation Exchange Unit could be bought, sold, purchased, traded, just like cash today, just like paper, but not paper. Rather a Virtual Unit, that used BitCoin for Transactions and Clearing.

Then: How is there government participation - they will want their money, a cut, a tax, something - you'd be right. Also, isn't there foreign exchanges, handling charges and fees, etc, etc., - yes, of course.

But let's say you did not transact in the currency of the nation; but rather the currency of the globe. A real fungible, tangible item. And that BitCoin was the Universale Conversion Unit.

Now: let's say that banks were not buildings, not places, but rather exactly what they are suppose to be - banks. A place store value, hold value, transfer value securely, and perhaps earn interest. But, that bank was not on a street - rather it was a Virtual Kiosk.

So: You could go online, to your smartphone, or perhaps a brick and mortar (as purely virtual banks at this point absolutely bring rise to a mistrust, if nothing else due to power outages, virus, hacks, etc, etc, so a Brick n Mortars will absolutely be required, what form they would take has not yet been determined).

Now: Let's say there are hundreds of thousands; a bank of your choosing; like a credit union; but not in any 'country' per say; but rather as an Internodal Network. You can select, choose, use any "banking facility you choose" - pretty good competition and real price setting mechanisms come about. Rather than concentrated work pools of 1000's in 1 location, there could be 100 in 10 locations, servicing maybe 1000-5000 clients (numbers not dtermined yet); and that institution (which of course we be a registered and regulated institution with their country) simply allowed world wide clients, instead of simply off shores, or suffering banking account opening restrictions.

Let's say a person from an other country (an immigrant) chooses to move and relocate to another country; wouldn't it be more convenient to keep thier local account that they've always had? And what if it was cheaper for them to bank there, and paid them interest; in contract to let's say a local brick and mortar in the new country.

But this is all preliminary; we've only been thinking about this as Bitcoin is gaining popularity, and are seeing how a new system of "little globally placed banks as independent operations, decentralized" would compare, or place, versus the old system and the security and valuation issues with Bitcoin until it stabilizes.

No Big Stuff right now - just thoughts, and seeing if there is interest. (yes, this is not a detailed overview).

But it is an idea in decentralization and globalization through independent 'banking systems' via a global network, strung together by bitcoin. Which we find facinating. But we do not know enough about the whole BitCoin thing, and are learning, and exploring at the same time.

I hope this puts some of you at ease.

Interesting. But we have set forth no plan.

Thus far, we have made no more than suggestions, comments, statements, and we assess the feedback.

Yes, there is a plan.

No, we have not put it here.

But, you may do as some of the others and choose to mislead yourself to whatever final conclusion you want.

The reason the thread is still alive, is because there is interest. The poll will confirm that there is interest. But just because some people choose not to participate in the conversation here in public, does not mean we do not watch how many times this thread is viewed, bumped to the top, replied to, and participation in the voting poll.

But, you sit back and have your coffee and your entertainment from all you read as much as you want.

After re-reading major portions of the thread, and yes I will get to other entries as time allows, but thank you for this posting, contributor.

This is a valid question which requires answering and a solution.

So, what is it you NEED (OR THINK you need) in relation to services that would:
1) Provide you to maintain your purchasing power
2) Provide you with access and movability of funds
3) How would you prefer to transact? In Bitcoin? A Currency? Or, an Account which held an Equivalent Value to a currency you Choose (Here let's assume you live in the US and wish to bank in Euros, or were in Europe and wished to bank in the US; for exemplars).
4) What do you find difficult or inconvenient about your day to day banking?
5) Are you happy with the fees you are paying?
6) Are you currently being paid interest?
7) If there was a solution available that would provide you with preserving real value and purchasing power, but you could easily use bitcions - then was kinds of fees would you find acceptable (you can provide any ranges you wish)
And any further comments you'd like to bring up to discuss, so we can apply our it to our models and see how your Responses would play out, in turn allowing us to refine our structures and foundations.
9) If you could change 3 things immediately about the way you bank (or transaction for purchasing or transfering money) what they be?
10) Would you like to bank in another currency than your local currency?

We'd Love To Hear From You! Either here in public, or you can email your answers to info@bgmco.info !

Thanks again for your comment!

You, after your displays here, your actions, lack of perception or forthought, leading you to acting upon your misconception and shooting yourself in the foot, are the last person, Sir, that I would ever listen to, and surely are the last person I shall entertain with a reply hereafter should you care to continue with contributions to the conversation; as you've clearly shown yourself to be either a madman, entirely delusional, or recenlty release from some type of "care" facility.

I have chosen to not delete any posts for the simple fact that I like open conversations, I have allowed you to keep you say and your beliefs. I didn't have to.

You go play in your little puddles little man. Enjoy them. And don't forget your meds.

LOL Oh some of you people are so entertaining!

20'000 people shot annually in the USA
over 300'000'000 Guns in the country
40'000'000 people in desperate poverty
50'000'000 people who can't afford a big mac

and it gets worse from there.. but you know all this already right?! So we don't need to really lay it out for you.

you people think there's no inflation!
YOu use to buy a 1kg jar of peanut butter now you but 750 ml for the same price.
you use to buy 2 lts of OJ now it's 1.75
you use to buy a Quart of Ice cream and it was a Quart, but no more

and you still pay the same prices - that's called inflation dumb dumb!

your real estate has tumbled and crashed!

your economy is failing, faltering and about to fall off a precipice.

your Wall Street run rife with corruption, and hemorrhaging money, funds, capital

your teachers who teach you your wonderful education that's about 4 years behind the rest of the modern world, enjoy, we see what it has taught you

YOu people watch far too much CNN if you think you're little Bitcoin has a chance on it's own.

The Dollar will drop to between 60 and 50 cents.

But you don't have to believe us.

As a matter of fact, after much thought, we'd probably prefer to just let america sink now; all on it's own.

So continue you shouting, your rants and tirades.

What you have overlooked is that there are people who know we ARE right. Those are the only ones we care about.

So, I suppose that's our entry into the day, hello again everyone!

Thanks you, you are very close, but it's not One Thing. Rather it's a component piece.

But we'll get to that later, I'm sure.

You also obviously have no concept about what Decentralization is, nor how it works, can work, and can be a freedom.

You stick to your centralized thoughts and your BitCoin.

When it finally strikes you, and it may never strike you unfortunately, but either way it will be too late.

But it's time to get some rest. One of us or all of us will keep the thread up again tomorrow!

And again, thanks to everyone for their continued participation.

Very entertaining.

You think we are selling. We are not. This is more of a Focus Group for us. And we have learned a lot.

But, yes, we shall be focusing more with our European Counters, though you'll notice in the Voting Poll that the race is dead even.

You see we don't need many to follow in what we believe. That's entirely up to the individual. Your beliefs are yours to have, but that does not mean we will back down from ours.

It would blatantly obvious that precious metals would be in the mix; as with many other things of 'real' value - that's why I continually say Hard Assets!

My goodness. But that does not mean it forms a majority position. Certainly anyone who is not holding some form of Physical Hard Asset in the form of some Gold or Silver, or indeed coming up copper, is completely devoid of any kind of financial sense.

Now that we have dispensed with the obvious, I should hope it shant be revisited, due to its rather glaring being as an existnential part of it everything.

It's like trying to teach a dead chimp to walk in here!  I had thought that with the recommendations I had received to bring up the topic here in the first place a few days, but really - this is now becoming too much. You are all starting to sound like either a bunch of 1980 hard assed mortgage tied brokers who are falling short on your payments and can't afford to have changes happen, or you are all smoking something you shouldn't be.

You do know that by 2020-2025 the US dollar will hit 50 Cents right - now wrap your head around that. And that's just the tip of the iceberg with the momenetum behind the Renmindi and the Rubble right now.

So you do as you please. You are entitled to live in your little universe. Enjoy it.

You are entitled to your opinions no matter how wrong they may be.

You have displayed yourself to have no grasp, concept, clue, or understanding about Socioeconomics, Marco Economics, Currency, Monetary Systems, or anything else even slight related to what 'real' money is.

You keep your Bitcoins. I shall keep my assets. But that's nothing more than choice.

When the power goes off, I shall sleep well.

There we go. We are starting to think about the margins.  Now, reduce costs, decentralize, and even though there may be thin margins, it's about the breadth of the waters being sailed. The balancing is delicate. But once it's gotten to a point of Neutrality it will swim for the next 150 years or more.

Bitcoin is a "Present Value" currency, with an inability to carry and hold it's value. Like a dwindling gold mine, or the good old gold rushes. But the mine will run dry. The cost will vastly increase, and it no longer service as daily use purpose.

However, as payment clearing system and transaction system Bitcoin is nearly flawless.

You're getting farther away.

Let's see - Think of Bitcoin as a "Payment Clearing System" rather than a currency; as it's not a currency; a currency would be something of real value (a tangible, fungible, real thing).

I would not sell you a pound of potatoes for .01 bitcoins; but i will for $1.00; or something of similar value; or somethign attached to that thing of value; and i may accept 'payment, transactions, or process them out, in the form of a bitcoin' but the bitcoin is pretty worthless beyond that.

And sure, we may keep a few "odd bitcoins as a float to provide a liquidable reserve from which to make exchanges from' but it's more like writing a cheque (with a bitcoin cheque) than it as currency.