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Author Topic: Had Satoshi Nagamoto made himself public, would BTC be where it is today? Why?  (Read 146 times)
seantcm
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June 19, 2018, 09:11:26 AM
Last edit: June 19, 2018, 09:24:19 AM by seantcm
 #21

What about anonymous companies with Decentralized Platform, like Peer - to - Peer exchange where moneys doesnt kept by the company, buyers and sellers deal directly with each other and the Exchange provide Escrow services? I see these as a good fit to the future of crypto moving forward. All the Centralized service are gonna face hard time with the ever changing rules and regulations, as well as pressure on its operating countries which could make Peer to Peer anonymous companies go way faster and grow bigger without restrictions

decentralized exchanges also have their limitations. for example if you want to use banks to transfer money you still have to endure KYC and a lot of the money transferring methods have charge back issues that increases the risk of getting scammed. and trading face to face with cash is not possible for everyone.
in the end we will always need the centralized exchanges to have a place where we can easily transfer money to and from and trade instantly and speculate about bitcoin price.

decentralized exchanges with crypto to crypto exchange is a different story though because it is all using blockchain technology it can be done fast and easy without any problems. they will be the future and the altcoin exchanges will be extinct in a couple of years in my opinion.

Centralized cannot avoid KYC.
Crypto to crypto trading yes and no.
What about Escrow services the P2P Exchanges for Fiat - Crypto. They can be fully anonymous and every is still working without anyone
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July 11, 2018, 09:12:48 AM
 #22

Hi guys, I had this thinking out of a sudden when I see all exchanges and services surround cryptocurrencies asking for KYC documents!

I started to relate this to Satoshi Nagamoto and the inception of Bitcoin. The reason why Bitcoin is unstoppable, apart from its Blockchain Fundamental, another biggest reason would be that Satoshi Nagamoto is anonymous. Had he exposed himself at the early inception days of Bitcoin, the government/authority from all over the world, including the Rothchilds Familys, Dragon Fund and the sort would hunt him down and make Bitcoin a stillbirth.

So had any services and exchanges provider remain anonymous rather than exposing their company and their team just to please the public (avoid being called a scam), we would have a better Crypto Space now!

Whats your thought on this? Do you support the future Exchanges and Serivce Providers to be anonymous? And why?

Service providers shouldn't make their developers anonymously. As their work suggests, providing service needs to have at least a trust or confidence for the buyer. What if a problem arises? Who or where can people ask or sue? I don't think that's a good idea. Besides that is different from using a decentralized system like bitcoin. Whoever Saroshi is, there's a greater possibility that he wouldn't reveal himself since there are governments who are against his idea.

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July 11, 2018, 10:35:05 AM
 #23

It will be in the same place. You should've realized by now that these KYC requirements are for some centralized altcoins. Bitcoin is decentralized, it does not need your personal details. With satoshi or no satoshi, bitcoin witll be the same.
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July 11, 2018, 12:24:37 PM
 #24

You can't associate this KYC with bitcoin since every user here is anonymous and anyone can buy btc. It's not like some altcoins out there that are centralized requiring kyc. and with this even if satoshi had made himself public, btc will still be where it is now
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July 11, 2018, 03:04:02 PM
 #25

Everything will probably be just the same. these KYC requirements are just for some other centralized altcoins which is not liek btc since it is decentrlized.
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July 11, 2018, 03:08:00 PM
 #26

Hi there. I know it is decentralized of course, but what I meant is that had Satoshi be punished and asked to assist in destroying bitcoin (Im sure no one thought about this before), there are many ways he can do so. Looking at the mess of forking, 51 attack just part of the mess im talking about that brings the death of Bitcoin

again bitcoin is decentralized and Satoshi is just a developer and he doesn't have any more power than any other programmer out there specially at this point that the network has grown this big and is still growing.
the only thing that revelation of Satoshi can affect is the price and that is only because it is assumed that Satoshi may control a large amount of bitcoin. but you are not talking about price you are talking about "destroying bitcoin" which is not possible.

as you can see the forking mess was a temporary drama and the 51% attacks have been a part of the forks (the altcoins) just like it has always been. for years different altcoins have been under 51% attack that wipes out their blocks and creates nuisance for exchanges that did not start with these forked coins.

Assuming the theory of satoshi being actually just a single guy that had a moment of inspiration to come up with his byzantine generals solution mixed with all the previous work by Szabo, Wei Dao, Adam Back and others... it would be a disaster if he decided to stay public. It only damages the project, having a real person around in my opinion. Just look at Vitalik, the guy is a meme, he has too much power, his tweets can shake the market, we don't want that in Bitcoin.

He would be constant target, constantly scrutinized for what he says and how he thinks, it would have an impact on the price, kind of like Trump with the USD, again we don not want that.

Overall I think he did the right thing. He also did the right thing by never touching the coins again. If he ever moved these coins it would be a disaster for the market.

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July 11, 2018, 03:38:17 PM
 #27

Currently, there are many decentralized applications and decentralized exchanges, this no one can change. Anonymity is the quality that will remain with the crypto currency forever, even if all governments in the world want to prevent it.

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July 14, 2018, 04:30:00 AM
 #28

The only thing that Satoshi's revelation can affect is the price and that's just because it is thought Satoshi can control a large amount of bitcoin. Removing blocks of them and annoying trading floors does not start with these dividing currencies.
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July 14, 2018, 08:05:18 PM
 #29

Satoshi does nt need to be public the main mission of bitcoin is to stay private and run the protocol without his intervention the reason bitcoin is very successful is the reason it is private and unknown it is the technology that is working
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July 18, 2018, 11:38:31 AM
 #30

It will be just the same.as we know that the no one central authority can control bitcoin so nothing would change would satoshi reveal himself or not. These KYC requirements are just from altcoins and not bitcoins.
seantcm
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July 18, 2018, 04:48:46 PM
 #31

Hi there. I know it is decentralized of course, but what I meant is that had Satoshi be punished and asked to assist in destroying bitcoin (Im sure no one thought about this before), there are many ways he can do so. Looking at the mess of forking, 51 attack just part of the mess im talking about that brings the death of Bitcoin

again bitcoin is decentralized and Satoshi is just a developer and he doesn't have any more power than any other programmer out there specially at this point that the network has grown this big and is still growing.
the only thing that revelation of Satoshi can affect is the price and that is only because it is assumed that Satoshi may control a large amount of bitcoin. but you are not talking about price you are talking about "destroying bitcoin" which is not possible.

as you can see the forking mess was a temporary drama and the 51% attacks have been a part of the forks (the altcoins) just like it has always been. for years different altcoins have been under 51% attack that wipes out their blocks and creates nuisance for exchanges that did not start with these forked coins.

Assuming the theory of satoshi being actually just a single guy that had a moment of inspiration to come up with his byzantine generals solution mixed with all the previous work by Szabo, Wei Dao, Adam Back and others... it would be a disaster if he decided to stay public. It only damages the project, having a real person around in my opinion. Just look at Vitalik, the guy is a meme, he has too much power, his tweets can shake the market, we don't want that in Bitcoin.

He would be constant target, constantly scrutinized for what he says and how he thinks, it would have an impact on the price, kind of like Trump with the USD, again we don not want that.

Overall I think he did the right thing. He also did the right thing by never touching the coins again. If he ever moved these coins it would be a disaster for the market.

Great explanation with logic. Kudos to you
micle222
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August 01, 2018, 04:45:30 AM
 #32

I think what makes Bitcoin expensive is because among Bitcoin's founders he is still unknown or anonymous.

It may be different when Bitcoin is in the know who his developers will definitely fall in price.
Because human nature is always focused on the object in the know him, if Nakamoto has a bad history then Bitcoin will get a bad score.
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