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Author Topic: Was Satoshi someone who lost everything in 2008 Market Crash?  (Read 6834 times)
The Pharmacist
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May 11, 2019, 04:38:01 PM
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 #21

There's no way he'd arrive home in 2008 to find his locks changed after the bank had shut him out, gone to his car in a huff and created BTC in a Burger King car park to spite them before going off to drown his sorrows.
LOL.  Very true, and I never thought of Satoshi as one person but as an organization and that bitcoin might have been released in response to the crisis of 2008.  I don't have any evidence for that, nor was I around here when Satoshi was posting, so my theory has a big ignorance factor attached to it. 

You have to admit that it was one hell of a coincidence that a bank-less, government-less form of money was created right when there were legitimate fears that the whole banking system might come crashing down.  Of course it didn't turn out to be as bad as a lot of people thought it might, but bitcoin would have solved the problem of having a form of money that didn't depend on banks or governments. 

And no, I don't think Satoshi lost everything in the 2008 crash.  I had a lot of money in the stock market at that time, and I was unaffected by it.  Why?  Because I didn't sell any stocks when the Dow dropped to 6000 or whatever the low was.  You only could have lost everything if you were crazy enough to sell at the bottom, and I doubt someone as intelligent as Satoshi (assuming it's a single person) would make that rookie mistake.

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May 11, 2019, 05:27:40 PM
 #22

I don't think this happen, and i think Satoshi create bitcoin for his thought about create a system which is totally different from what banks offer.

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May 11, 2019, 07:32:03 PM
 #23

Just came across this thought. We all know what happened after the housing debt bubble burst near 2008 which led to a global level depression in 2008 which really ruined lives of millions of people worldwide. It even raised some great question about fiat debt and it's working. Lots of people lost their jobs, houses and everything.

Another fact that Bitcoin was created right after one year in 2009. So do you think there is some chance that satoshi was someone who lost his everything in 2008 crash, his job, his assets and his house.

He was so frustrated with it that his trust on the fiat financial system completely broke. He was sick of government, sick of corporate and sick of banks because of which he thought of creating real money thus creating bitcoin over blockchain and completing it in the very next year. So that people don't lose their money just because of debt bubble

We don't for sure, but it is possible for that to happen. The thing that makes it harder to be true is that the span of time is very short, only 1 year to complete Bitcoin is far beyond unbelievable. But who knows? The very truth that he created can also be assumed that it could happen with just a year. If that is the case then he is really a genius that was born in our generations like Einstein, Tesla etc.

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May 11, 2019, 07:49:25 PM
 #24

Another fact that Bitcoin was created right after one year in 2009. So do you think there is some chance that satoshi was someone who lost his everything in 2008 crash, his job, his assets and his house.
No one knows but talking about the possibility or chances for this kind of reason is lit.Bitcoin creation or generating ideas wont really be sufficient on 1 year time.This do
need a couple of years for btc to be molded not just on a single year for this revolutionary tech that do opposes fiat system.



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May 11, 2019, 08:34:40 PM
 #25

I don't think so?

Bitcoin was created in 2009 and the market crash happened on September 29, 2008. So after the breakdown of losing all of his profit in the market, he created bitcoin, no that's very impossible. Bitcoin was created in January 2009, How can you even do a wonderful technology with a peer to peer transaction for just a few months?

I don't think that Satoshi Nakamoto can do that alone, he might be an organization or a group of people that have a lot of knowledge on the web.

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May 12, 2019, 03:54:54 AM
 #26

I don't think a person who is as skilled as SN would not realize a bubble and imminent market crash --if we assume SN is a person.

Look at all the ICOs with enough fund and team members, yet they fail to deliver the product after all this time. This situation made me realize that SN probably is not a person.




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May 12, 2019, 08:51:53 AM
 #27

There's no way he'd arrive home in 2008 to find his locks changed after the bank had shut him out, gone to his car in a huff and created BTC in a Burger King car park to spite them before going off to drown his sorrows.
LOL.  Very true, and I never thought of Satoshi as one person but as an organization and that bitcoin might have been released in response to the crisis of 2008.  I don't have any evidence for that, nor was I around here when Satoshi was posting, so my theory has a big ignorance factor attached to it. 

You have to admit that it was one hell of a coincidence that a bank-less, government-less form of money was created right when there were legitimate fears that the whole banking system might come crashing down.  Of course it didn't turn out to be as bad as a lot of people thought it might, but bitcoin would have solved the problem of having a form of money that didn't depend on banks or governments. 

And no, I don't think Satoshi lost everything in the 2008 crash.  I had a lot of money in the stock market at that time, and I was unaffected by it.  Why?  Because I didn't sell any stocks when the Dow dropped to 6000 or whatever the low was.  You only could have lost everything if you were crazy enough to sell at the bottom, and I doubt someone as intelligent as Satoshi (assuming it's a single person) would make that rookie mistake.
Well couldn't agree more that this is always a rookie mistake to sell out all your stocks at the time of crash just to be safe out of it. But I think most of the newbie investor respond towards a crash in this manner only. Moreover, the theory that banks and agencies themselves were involved in making this crash a reality even questions the very existence of banks which make investors even more worried about the stocks they are holding. Nevertheless we would surely never be able to find out the whether he was affected or not.
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May 12, 2019, 10:19:13 AM
 #28

Such ideas and, most importantly, their implementation do not come and are not realized in a very short time. Surely the implementation of such a project as a cryptocurrency would take years. Moreover, information has already appeared that in the nineties there were ideas for creating cryptocurrency. Just the economic crisis of 2008 could significantly accelerate the completion of the cryptocurrency project. In order to create a cryptocurrency, it is not necessary to experience a personal tragedy financially. In addition, the fact that Satoshi Nakamoto could lose his property or money during this global economic crisis is only a guess.
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May 12, 2019, 12:57:09 PM
 #29

Such ideas and, most importantly, their implementation do not come and are not realized in a very short time. Surely the implementation of such a project as a cryptocurrency would take years. Moreover, information has already appeared that in the nineties there were ideas for creating cryptocurrency. Just the economic crisis of 2008 could significantly accelerate the completion of the cryptocurrency project. In order to create a cryptocurrency, it is not necessary to experience a personal tragedy financially. In addition, the fact that Satoshi Nakamoto could lose his property or money during this global economic crisis is only a guess.
right, nobody knows that for sure. however falling in the business world is a common thing, but the difference is how to get up. and until now bitcoin has shown that. not only for personal, but useful for many people

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May 12, 2019, 01:42:09 PM
 #30

I also thought that maybe it really happened or not that no one knew anything except Sathosi himself. But if so, why until now no one really knows who and what the Nakamoto Sathosi is like. There is even an article that says that Sosiosi Nakamoto is not an individual but a group that calls themselves Sathosi Nakamoto, I don't know.
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May 12, 2019, 03:27:17 PM
 #31

Was Satoshi someone who lost everything in 2008 Market Crash?

He could lost something but for sure I would never bet on that he lose everything.

Bitcoin was not created in one year. And it is something that people tried to create over decades.

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May 12, 2019, 04:05:40 PM
 #32

He may have been working on bitcoin or considered working on it before the crash happened. It is possible he abandoned it at some point .
  The economic crash probably made him more determined to complete the project



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Rainbot
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May 12, 2019, 04:20:55 PM
 #33

Just came across this thought. We all know what happened after the housing debt bubble burst near 2008 which led to a global level depression in 2008 which really ruined lives of millions of people worldwide. It even raised some great question about fiat debt and it's working. Lots of people lost their jobs, houses and everything.

Another fact that Bitcoin was created right after one year in 2009. So do you think there is some chance that satoshi was someone who lost his everything in 2008 crash, his job, his assets and his house.

He was so frustrated with it that his trust on the fiat financial system completely broke. He was sick of government, sick of corporate and sick of banks because of which he thought of creating real money thus creating bitcoin over blockchain and completing it in the very next year. So that people don't lose their money just because of debt bubble
Yeah,he might be someone who lost value of his assets due to the market crash or just don't want to see these paper said to be money for centuries by group of people called banksters.But he made something great which was people looking after that crash and got succeed as well until now.

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May 12, 2019, 07:46:46 PM
 #34

Why do you think Satoshi began to write the code prior to 2008, I think Satoshi has vision about the 2008, and they are making preparation for it, and they waiting for the best time to launch their first experiment, and I think they wait for the Lehman collapse, certainly they may be losing, but they may not lost everything.

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May 12, 2019, 10:46:00 PM
 #35

I believe more in the possibility that someone close to him has lost everything. Including a job in the financial market. He did not seem to be such an obsessed person to have and spend money. He always seemed to me much more an idealist.
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May 13, 2019, 12:15:52 AM
 #36

It's possible, but even though that would be true do you think bitcoin could be developed and launched and just one year? I don't think bitcoin was created just because of one event that happened to some guy because this was probably something planned for years and Satoshi worked on this for a long time before actually launching and showing it to the world because he couldn't just come with something created in a few months and say this is going to be the next currency of the world.

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May 13, 2019, 12:58:37 AM
Merited by BitHodler (1), Coin-1 (1)
 #37

Here's a post from Satoshi himself how he started working on Bitcoin in 2007. If he were to be a person who had lost 'everything', I imagine he would have been busy trying to survive, instead of working on a novel project with an unkown/highly unpredictable ROI.

The design and coding started in 2007.

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May 13, 2019, 09:52:45 AM
 #38

Just came across this thought. We all know what happened after the housing debt bubble burst near 2008 which led to a global level depression in 2008 which really ruined lives of millions of people worldwide. It even raised some great question about fiat debt and it's working. Lots of people lost their jobs, houses and everything.

Another fact that Bitcoin was created right after one year in 2009. So do you think there is some chance that satoshi was someone who lost his everything in 2008 crash, his job, his assets and his house.

He was so frustrated with it that his trust on the fiat financial system completely broke. He was sick of government, sick of corporate and sick of banks because of which he thought of creating real money thus creating bitcoin over blockchain and completing it in the very next year. So that people don't lose their money just because of debt bubble
I don't really think so, it can't be that he's among those that such thing happened to. This guy has a wallet where he left over 1.5 million bitcoins in it. In 2017 the worth of those coins puts him on the list of world's richest men. If you ask me, I will say this guy is a rich guy. We just don't know who he is and I don't even know why he's abandoned a wallet with such amount, could it be that he doesn't have access to it any more or he's no longer alive? Whatever, at the end we will all know what it's all about.
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May 13, 2019, 12:26:31 PM
 #39

Just came across this thought. We all know what happened after the housing debt bubble burst near 2008 which led to a global level depression in 2008 which really ruined lives of millions of people worldwide. It even raised some great question about fiat debt and it's working. Lots of people lost their jobs, houses and everything.

Another fact that Bitcoin was created right after one year in 2009. So do you think there is some chance that satoshi was someone who lost his everything in 2008 crash, his job, his assets and his house.

He was so frustrated with it that his trust on the fiat financial system completely broke. He was sick of government, sick of corporate and sick of banks because of which he thought of creating real money thus creating bitcoin over blockchain and completing it in the very next year. So that people don't lose their money just because of debt bubble
It could actually be possible bro, there are so many things that I found wrong with our government that I am so angry with and if I have got the chance to cut them off the lives of people, I would have done it, because sometimes, government and their policy is one of the problems why most citizens are finding it difficult to leave in this world that God has created for everyone to equally enjoy.

So you are right, satoshi could have been affected by the mayhem that was unleashed in that 2008, and being a smart man and a lover of freedom, created the system that will make people not completely rely on the FIAT system  of government that has failed us and out countries into big debts.
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May 13, 2019, 12:33:56 PM
 #40

Just came across this thought. We all know what happened after the housing debt bubble burst near 2008 which led to a global level depression in 2008 which really ruined lives of millions of people worldwide. It even raised some great question about fiat debt and it's working. Lots of people lost their jobs, houses and everything.

Another fact that Bitcoin was created right after one year in 2009. So do you think there is some chance that satoshi was someone who lost his everything in 2008 crash, his job, his assets and his house.

He was so frustrated with it that his trust on the fiat financial system completely broke. He was sick of government, sick of corporate and sick of banks because of which he thought of creating real money thus creating bitcoin over blockchain and completing it in the very next year. So that people don't lose their money just because of debt bubble

This is just an assumption and theory, we never know that because there was no mention on his record that he really suffered from those lost, but whatever reasons he has in creating Bitcoin, he has done a great job, uniting all people from all walks of life and belief, but let us just believe that he is a good person and he just means well in creating Bitcoin.

                                                                               
                 
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