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July 24, 2017, 03:22:00 AM |
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Satoshi should have defined the society, government, human life and what it means to live better. And then delve into crypto concepts. Satoshi's world view is different. It is not enough just to come up with mathematical solutions to social problems. You need to define the social context and consider it in your solution. This was not done properly by Satoshi.
The fallacy is, while bitcoin network assumes a total lack of trust among people, it either asks governments to trust people for their good intentions in using bitcoin anonymously or it rejects the need for having any visibility into payments. Let's take a deeper look into these two.
If it is asking governments to trust people and their good intentions in using bitcoin, it contradicts with the very foundations of bitcoin which assumes total lack of trust. So we can rule out this possibility.
Then it must be the other reason - rejects the need for having any visibility into payments. This is so wrong, for anyone who has a little understanding of how the human civilisations have arrived to this point in history. Satoshi, while excited by the great new solution offered by cryptography for moving value anonymously, didn't care to study the social implications and didn't see how this solution effectively asks the humanity to go back to jungle life.
Lack of visibility into money movement means lack of knowledge into services, activities and goods delivered against those payments. When there is no one to care about who is doing what with these large money payments, then effectively we are back to jungle life.
Satoshi didn't believe in his own social existence anyway. So, it could appear justified for him to ignore governments and traceability. But most of the humans believe in society and believe in their own existence, very unlike Satoshi.
It is easy to see why the bitcoin is only compatible with the primitive Satoshi world (jungle life) and incompatible with the current society and world as it exists today.
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