Why is there such a big problem with Satoshi?

[KaChingCoinDev]

So this Craig Wright claims to be Satoshi. It has the media and half the bitcoin community up in arms. Why is it such a big deal? The whole point of bitcoin was to have nobody controlling it. Whether or not Craig is Satoshi, why does anybody care? It isn't important to Bitcoin at all. The miners and the people who transact via Bitcoin are more vital to it's survival than finding Satoshi will ever be.

[achow101_alt]

Because people want to know who Satoshi is, and the fact that his identity is unknown increases the mystery and the curiosity that people have.

[Graphics]

IMO there is seriously no point at all figuring out who Satoshi is. If he wants to stay anonymous, let him stay anonymous. It's just the media trying to leave the public a bad impression of bitcoin.

[traderbit]

Everyone is worried what is happening with the satoshi drama.
There are some information that can prove or identity any relatives of real satoshi.
But at the end is it important to know who is satoshi? bitcoin is rising and people love it

[KaChingCoinDev]

IMO there is seriously no point at all figuring out who Satoshi is. If he wants to stay anonymous, let him stay anonymous. It's just the media trying to leave the public a bad impression of bitcoin.

My point exactly. It just doesn't matter!

[LFC_Bitcoin]

He's rich AF & it's a mystery, people want to know who the man is behind the legend. He's a genius but for the record I don't think he'll ever reveal himself.

[nicked]

Satoshi has somewhere around one million coins. If these coins were to be sold on the market, it could crash the price.

[KaChingCoinDev]

Satoshi has somewhere around one million coins. If these coins were to be sold on the market, it could crash the price.

He could, but why would he if he founded it? Also, how would finding him allay any fears of that happening?

[Graphics]

IMO there is seriously no point at all figuring out who Satoshi is. If he wants to stay anonymous, let him stay anonymous. It's just the media trying to leave the public a bad impression of bitcoin.

My point exactly. It just doesn't matter!

Yep, and if he stays anonymous and unknown then there will be more interest in bitcoin, if you know what I mean

[countryfree]

A problem? I don't see any problem. One guy's saying he's Satoshi, and then what? What has changed? BTC's price is up a little, but BTC's price has been going up or down all year. Sleep well and sweet dreams. Satoshi being known or unknown, dead or alive, won't change anything.

[KaChingCoinDev]

A problem? I don't see any problem. One guy's saying he's Satoshi, and then what? What has changed? BTC's price is up a little, but BTC's price has been going up or down all year. Sleep well and sweet dreams. Satoshi being known or unknown, dead or alive, won't change anything.

That is what I'm trying to say.

Everybody is hyping it up, when it really doesn't matter.

[AndySt]

Now the development and promotion deals with a completely different team. His appearance in light is very unlikely to be anything seriously affected. Another question in his millions.

[Wapinter]

So this Craig Wright claims to be Satoshi. It has the media and half the bitcoin community up in arms. Why is it such a big deal? The whole point of bitcoin was to have nobody controlling it. Whether or not Craig is Satoshi, why does anybody care? It isn't important to Bitcoin at all. The miners and the people who transact via Bitcoin are more vital to it's survival than finding Satoshi will ever be.

I think most want to meet Satoshi to beg some free bitcoins from him

[Amph]

Satoshi has somewhere around one million coins. If these coins were to be sold on the market, it could crash the price.

no one said that those coins will be sold all at once, selling them slowly will not cause any harm

let's say 1k coins per day in 3 years of a time frame, it will be like a major pressure coming from miners

and if he is really satoshi he will not harm bitcoin by selling them and destroying the market

[Snorek]

Satoshi has somewhere around one million coins. If these coins were to be sold on the market, it could crash the price.

Yes, he have all that coins piled up, but the real question is: does it change if we knew who is Satoshi? Not really. It is not like we can make him keep his coins untouched forever.
Whenever his identity is known or not he can start to sell these coins if he chose so.

[Mickeyb]

There is no problem in my opinion. The media and the whole community just want to know who Satoshi really is?!

When you think of it more closely, this whole Bitcoin creation thing and Satoshi situation is as mystical as it can get. And as bitcoin is climbing in its success it will just be more and more mystical.

I expect for frenzy just to become bigger as time passes.

[crazyivan]

I really do not understand the entire fuss. Who cares who Satoshi really is, let the man who created something really great be.

It does bring additional press exposure to BTC and crypto and as we all know there s no bad press.

[LiteCoinGuy]

this media stories suck because they are reveal the poor journalism that we have.

[ultimatesky]

Yeah, I don't understand this either. I don't think it really matters either.
We are all satoshi whether you own a lot or just a little.

[1Referee]

Satoshi himself is not a problem at all. I think the main problem are the sleeping coins that he owns. I was watching a news channel here were this situation was being discussed. They claim that Satoshi has around 1,000,000 coins lying somewhere. I do believe he has a good load of coins, but nothing in the range of the 1 million.

It's purely the IRS that is hunting for Satoshi. They want his money. They want to tax him, or even worse. If they for whatever reason confiscate his coins, then the whole community will get shaken up. These coins will probably get dumped on exchanges to get fiat in return, or perhaps you will see the FBI put up these coins for auction. Either way, it means that there will be a huge load of coins, that were sleeping for years, come to life, and into the market.

[croato]

I dont think there is big problem with Satoshi at all. Some ppl think he could harm Bitcoin by selling his coins (even we cant tell if he have keys from those addresses) and other are just curious who he is. If you ask me, i would like if we never find out.

[enhu]

IRS is scary than CIA and FBI combined - Satoshi should really be hiding  

While Satoshi will never go out publicly not just because of the media. The quest to finding him sure will help making Bitcoin known so this can be a good for the BTC economy at the same time.

[xuan87]

well for now bitcoin has been a great deal for everybody,

bitcoin has even been predicted to become one of the global currency that someday can replaced fiat money

this is one of the phenomenal achievement, so i predicted in future, one of the institution will give award to this inventor

[HarryKPeters]

Because people want to know who Satoshi is, and the fact that his identity is unknown increases the mystery and the curiosity that people have.

Add to that the fact that he owns 1 millions bitcoins. He can crash the price instantly.

In the wired article i read that he will not sell before 2020 but after that we will see maybe some very dark times. If 5% of all bitcoins enter the market (he also pledged some of his coins to other parties) it will be quite some blood on the streets.

[ConnAlt]

I think it's because people would like to know who invented the amazing bitcoin. Other than that I don't think he's really relevant.
We're all satoshi, we are the bitcoin users.

[BCEmporium]

No one actually knows how many bitcoins he has, he announced Bitcoin by 9th Jan 2009 at a mailing list, so he was not the only one able to do it from the very beginning. 1,1 million is an estimation, not an actual figure.

[readysalted89]

IRS is scary than CIA and FBI combined - Satoshi should really be hiding  

While Satoshi will never go out publicly not just because of the media. The quest to finding him sure will help making Bitcoin known so this can be a good for the BTC economy at the same time.

Satoshi left a headline from a British newspaper as a message in the blockchain. If he's British then I don't suppose he has to worry about its version of the IRS because I don't think you can get taxed on Bitcoins in Britain until you sell them for fiat. As far as I know you can hold a million Bitcoins in Britain and it's nothing to do with the tax man unless you sell them.

[Amph]

I think it's because people would like to know who invented the amazing bitcoin. Other than that I don't think he's really relevant.
We're all satoshi, we are the bitcoin users.

they are more worried about the 1M coins, i know the first thing i would ask to satoshi is where are those 1M, if he already dumped at 1200 or they are lost

or maybe a scammer scammed him, and he is now prepared to dump at some point, those info could be important

[hunnaryb]

I think it's because people would like to know who invented the amazing bitcoin. Other than that I don't think he's really relevant.
We're all satoshi, we are the bitcoin users.

they are more worried about the 1M coins, i know the first thing i would ask to satoshi is where are those 1M, if he already dumped at 1200 or they are lost

or maybe a scammer scammed him, and he is now prepared to dump at some point, those info could be important

I thought nonce analysis shows that the likely 1M coins have not been moved, and have not been moved. Very unlikely the market would be able to sustain 1M dump even if you started from $1200

[readysalted89]

I think it's because people would like to know who invented the amazing bitcoin. Other than that I don't think he's really relevant.
We're all satoshi, we are the bitcoin users.

they are more worried about the 1M coins, i know the first thing i would ask to satoshi is where are those 1M, if he already dumped at 1200 or they are lost

or maybe a scammer scammed him, and he is now prepared to dump at some point, those info could be important

He can't have dumped at 1200 because most of the early Bitcoins mined by Satoshi have never moved from their addresses. If he'd sold them they would have moved when he transferred them to an exchange. People have analysed the early mined coins and worked out which must have been mined by Satoshi, and they have computers scanning the internet that will alert them the second any of those coins move.

[Denker]

So this Craig Wright claims to be Satoshi. It has the media and half the bitcoin community up in arms. Why is it such a big deal? The whole point of bitcoin was to have nobody controlling it. Whether or not Craig is Satoshi, why does anybody care? It isn't important to Bitcoin at all. The miners and the people who transact via Bitcoin are more vital to it's survival than finding Satoshi will ever be.

It's true when you say that nothing would change if we would know who Satoshi is.
The mainstream media however doesn't seem to understand what decentralisation really means, or what open source is.
A part of them still seems to think that Bitcoin is controlled by somebody.
Furthermore it's all about sensationalist journalism.And maybe or lets say there are definitely people out there hunting for those 1 million BTC.And to find those you have to find out who Satoshi is.

[Amph]

I think it's because people would like to know who invented the amazing bitcoin. Other than that I don't think he's really relevant.
We're all satoshi, we are the bitcoin users.

they are more worried about the 1M coins, i know the first thing i would ask to satoshi is where are those 1M, if he already dumped at 1200 or they are lost

or maybe a scammer scammed him, and he is now prepared to dump at some point, those info could be important

I thought nonce analysis shows that the likely 1M coins have not been moved, and have not been moved. Very unlikely the market would be able to sustain 1M dump even if you started from $1200

there is a big portion of the "1M coins" that is not traceable, i mean there is no real way to connect it to satoshi, maybe not all the 1m are moved, but only a portion, big one, like 200k or so, still dangerous

I think it's because people would like to know who invented the amazing bitcoin. Other than that I don't think he's really relevant.
We're all satoshi, we are the bitcoin users.

they are more worried about the 1M coins, i know the first thing i would ask to satoshi is where are those 1M, if he already dumped at 1200 or they are lost

or maybe a scammer scammed him, and he is now prepared to dump at some point, those info could be important

He can't have dumped at 1200 because most of the early Bitcoins mined by Satoshi have never moved from their addresses. If he'd sold them they would have moved when he transferred them to an exchange. People have analysed the early mined coins and worked out which must have been mined by Satoshi, and they have computers scanning the internet that will alert them the second any of those coins move.

not all of them like you've said, there is a big portion that is not connected to satoshi, a portion is missed from this 1M

[Snorek]

this media stories suck because they are reveal the poor journalism that we have.

It is not journalism anymore it's more like storytelling and creating hype without actually checking clues. I feel that journalism nowadays works like this:
'Let's write some fabricated story, agitate the masses and never post any dementi if that turn out to be total bullshit'.

[KaChingCoinDev]

this media stories suck because they are reveal the poor journalism that we have.

It is not journalism anymore it's more like storytelling and creating hype without actually checking clues. I feel that journalism nowadays works like this:
'Let's write some fabricated story, agitate the masses and never post any dementi if that turn out to be total bullshit'.

It's sad when main stream media has articles with plainly false information because it sounds good.

[bitlancr]

People mainly wanna know who it is because he holds a lot of bitcoins or at least people are speculating that he holds this much. He holds enough bitcoins to move the markets, good or bad.

[Blawpaw]

The problem is that the real satoshi is supposed to be the owner of several wallets with more than a million bitcoins; People are scared that the real satoshi could dump them a kill the game!

[tss]

there is no problem with satoshi.. only problem is with those that are trying to impersonate him.

[Luqman]

Yeah i is a big problem, why? if he dumps his bitcoin over the market right the bitcoin's price will absolutely crash. Satoshi Nakomoto is a big problem

[Laila10]

there is no problem with satoshi.. only problem is with those that are trying to impersonate him.

Because the government wanna ask him the tax.. lol
But satoshi having much bitcoin over his wallet and when he dump those coins would be a big problem isn't it?

[AncilVTwo]

Satoshi has somewhere around one million coins. If these coins were to be sold on the market, it could crash the price.

yes but think about it. bitcoin is powerful not because of the price but because of what it can do. if the price went down a bit. it wouldnt hurt bitcoin.

[vlom]

what will happen to the BTC price after it is clear who really wrote the paper?

i think there would be the biggest bubble ever.

and that is a problem.

[davinchi]

Satoshi has somewhere around one million coins. If these coins were to be sold on the market, it could crash the price.

yes but think about it. bitcoin is powerful not because of the price but because of what it can do. if the price went down a bit. it wouldnt hurt bitcoin.

Yes, selling one million bitcoins may dump the bitcoin prices but it will bounce back to current stable price within hours for sure. Because of lot of bitcoin aspirants are waiting to buy bitcoins. Other than Satoshi's coin there are more than 15M coins are already in circulations.

[mobnepal]

As we can see there is more than 15 million of coin in circulation so even government or satoshi himself try to sell supposed 1 million of coin he have will only create oppurtunity for the buyers to buy cheap. It will be interesting to see who is real satoshi other than that this news will not effect bitcoin in any means.

[disclaimer201]

I find it appalling that someone wants to tax you on your bitcoin networth even if you have never realized your gains in fiat. They will never know the actual worth of said BTC in fiat until you actually throw them on the market. There is no basis other than imaginary fairytale value to tax someone actual fiat cash. I fully understand anyone fighting against such a jurisdiction and hiding the bitcoin and fleeing from such "authorities".

Having said all that, I doubt Mr. Craig Wright has been raided for supposedly owning BTC alone, but for his self-staged drama and involvement in dozens of fiat companies. He's pretty much your regular "tax offender" is my guess.

[xmax]

What if we have it all wrong and Satoshi is not a person, what if it is a group of people.  In some countries forming your own currency is a form of treason, so maybe they do not want to be known because of this,.  They give such a great thing to this world and then they deserve to be punished.  But then again you have those in the world who like the proposition of paying it forward, but they do not want nothing in return.  Do you think people are just going to say, hey Satoshi, how is your day?  No, they are going to hound him and make his life a media circus.

[lolgato]

Satoshi has a lot of bitxoins if he dumps them that's the end of bitcoin right there and it would be worthless so we got to prevent him from dumping them

[tyz]

Bitcoin or acutally the blockchain is one of the greatest inventions since decades. So, everyone wants to know what person or group of people we have to thank for this present. On the other hand, many people are interested to know who is the one who probably owns Bitcoin worth of around 500 million dollars.

[Sir_lagsalot]

Agreed. Satoshi is the creator, but he has no power now. The only hand he has in the price is if he uses his supposed one million to pump. The reason we all care about him is that he brought bitcoin to us - not acknowledging him is like if Isaac Newton came back alive, noone even noticed him. How absurd is that? If it wasn't for him, we wouldn't have our physics laws of today. Get my logic?

[hayek]

Satoshi's identity is important.

For a start - Remaining anonymous is a big bump to their credibility. The person(s) acted and interacted publicly, collaborated with other people, and no one knows who they are or are keeping quiet about it. That's hard. Very hard. You need to know what you are doing to accomplish that. It also requires discipline and, likely, planning.

Secondly, the global implications. What if undeniable evidence breaks that points to a nation state? What if Mike Hearn is discovered to be Satoshi? GMaxwell? Etc.

[KaChingCoinDev]

Satoshi's identity is important.

For a start - Remaining anonymous is a big bump to their credibility. The person(s) acted and interacted publicly, collaborated with other people, and no one knows who they are or are keeping quiet about it. That's hard. Very hard. You need to know what you are doing to accomplish that. It also requires discipline and, likely, planning.

Secondly, the global implications. What if undeniable evidence breaks that points to a nation state? What if Mike Hearn is discovered to be Satoshi? GMaxwell? Etc.

Maybe even Vladimir Putin!

[knightkon]

It does not matter.  These people are playing this out like Hollywood does all these stars, such as Kim Kardashian.  This is one of those because they say he is important.  There are some people who would love to pick his brain with what he can do and I am sure some companies would pay millions of dollars in order to give him a job, but to the regular Bitcoin lover, there is no matter.