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Author Topic: Is Bitcoin really just benefiting its creator?  (Read 2845 times)
XX55XX
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June 24, 2011, 12:46:56 AM
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Imagine Bitcoin's beginning, when its userbase was no more than 100 users.

At that time, even someone with a weak Pentium 4 could mint blocks of coins quite easily for him or herself.

Now, with individual Bitcoins worth more than USD or most other major currencies on a nominal basis, one must ask: Did the guy who wrote the Bitcoins software do this primarily to enrich himself in such an unorthodox manner? Additionally, the lack of clarity over the identity of the person who came up with this software raises my eyebrows.

It's not a Ponzi scheme, but if the guy who came up with this is holding 10% of the current Bitcoin supply for himself, then I think he's a genius. He might make millions.
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June 24, 2011, 12:50:51 AM
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Imagine Bitcoin's beginning, when its userbase was no more than 100 users.

At that time, even someone with a weak Pentium 4 could mint blocks of coins quite easily for him or herself.

Now, with individual Bitcoins worth more than USD or most other major currencies on a nominal basis, one must ask: Did the guy who wrote the Bitcoins software do this primarily to enrich himself in such an unorthodox manner? Additionally, the lack of clarity over the identity of the person who came up with this software raises my eyebrows.

It's not a Ponzi scheme, but if the guy who came up with this is holding 10% of the current Bitcoin supply for himself, then I think he's a genius. He might make millions.

Assuming hes kept a shit load of those bitcoins, he will be rich as hell one day if Bitcoin doesn't fail over the years. Well deserved to. Anyone who invests time and money into an idea that is amazing deserves it.
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June 24, 2011, 12:53:51 AM
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So, I don't mind about this just because those guys who came first are smart enough to be reach  Cheesy...
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June 24, 2011, 02:30:43 AM
 #4

No. It benefits all of us who use it. Hopefully it will benefit all of society.

Of course he probably figured it would make him rich. That's proof he did a great job. If I built a better mousetrap, you can bet I'd be hoping it made me a lot of money.

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magik
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June 24, 2011, 04:05:16 AM
 #5

I find it somewhat fishy that no one knows who he is or where he went

but I also agree that those early adopters should be compensated for investing their time and money into it too.  I mean without anyone jumping on board and sticking with bitcoin, it wouldn't be anywhere near what it is today.
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June 24, 2011, 07:29:46 PM
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Think really really long term.  No transaction fee (or minimum) for all party involved; hence, the money will get reinvested into the business to innovate and produce.  It's a great thing.
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June 24, 2011, 07:49:33 PM
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If the op is right, I must have created bitcoin!!11 Huh

The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf

Free bitcoin=https://bitcointalk.org/index.php?topic=1610684
tymothy
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June 24, 2011, 07:51:57 PM
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Generally paying someone more for something than it cost them to produce is kind of a fundamental portion of an economy and not something you'd criticize someone for.
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June 24, 2011, 07:57:20 PM
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If the op is right, I must have created bitcoin!!11 Huh

Guys, weve found Satoshi. Hes confesed.
bitcoinminer
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June 24, 2011, 08:06:55 PM
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I'll bet Thomas Jefferson is fuckin' FLUSH with nickels right about now!!!

Be fearful when others are greedy, and greedy when others are fearful.

-Warren Buffett
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The revolution will be monetized!


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June 24, 2011, 08:11:11 PM
 #11

If the op is right, I must have created bitcoin!!11 Huh

Guys, weve found Satoshi. Hes confesed.
に戻って私の忍者スーツを置く時間。くそ、私はちょうどこのアイデンティティに慣れていた。

The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf

Free bitcoin=https://bitcointalk.org/index.php?topic=1610684
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June 24, 2011, 08:17:26 PM
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If possible to use only hiragana, please do, Kanji is very hard...
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June 24, 2011, 08:18:45 PM
 #13

It's creator deserves to be rewarded don't you think? Just like Bill Gates, Steve Jobs, Mark Zuckerberg , and all the other Internet giants are being rewarded today?

Tweet For Coins http://uptweet.com
bitcoinminer
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June 24, 2011, 08:20:16 PM
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It's creator deserves to be rewarded don't you think? Just like Bill Gates, Steve Jobs, Mark Zuckerberg , and all the other Internet giants are being rewarded today?

I didn't realize that facebook, microsoft, and apple were so decentralized...

Be fearful when others are greedy, and greedy when others are fearful.

-Warren Buffett
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June 24, 2011, 09:08:38 PM
 #15

I'll buy Satoshi a beer, I don't give a shit if he gets rich. He's already done a lot to enlighten many of us.

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June 24, 2011, 09:12:31 PM
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I'm surprised I haven't seen more Japanese language on this forum.
I think the first nihongo I've read was a few posts above me there -- I haven't even seen any written in roumaji, for crying out loud.

aral
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June 24, 2011, 09:22:24 PM
 #17

It's creator deserves to be rewarded don't you think? Just like Bill Gates, Steve Jobs, Mark Zuckerberg , and all the other Internet giants are being rewarded today?

No I don't think so.  Who the fuck are you to decide who is deserving of wealth and who isn't?

I don't give a fuck whether Satoshi gets rich or not, that is irrelevant.
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June 24, 2011, 09:30:32 PM
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easily 10% has been deleted when people were going "Oh what the hell? after paypal fees I'll have less than a dollar for my thousands of bitcoins."
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June 24, 2011, 09:53:01 PM
 #19

Are you 100% sure that he didn't sell it yet?
And the question in this topic is somehow stupid. If it was benefiting only creator of Bitcoin, then we wouldn't be here.

BitMofo
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June 24, 2011, 10:45:55 PM
 #20

I think the creator deserves every penny for such a fantastic concept...
I highly doubt Satoshi is even his real name!
It looks to me like he's used a fake name, he's used tor for all his identifiable things, and used an anonymous email provider, and now he's disappeared off the face of the earth! Good on him! Nothing wrong with a bit of enigma... Gets us all talking doesn't it?
He's probably just avoiding public warfare.

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