Was Satoshi someone who lost everything in 2008 Market Crash?

[onrise]

Not sure how can we finalize it or is it just a assumption where we still do not even know is Satoshi a male/female or an group of institution which came together and create this coin. Just nothing could be said regarding it and still how much do they know is uncertain. So better lets not predict it if they lost it or not.

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[strunberg]

Not sure how can we finalize it or is it just a assumption where we still do not even know is Satoshi a male/female or an group of institution which came together and create this coin. Just nothing could be said regarding it and still how much do they know is uncertain. So better lets not predict it if they lost it or not.

news about who is real satoshi  still not fixed yet.but i am sure satoshi still active developting bitcoin and blockchain.just let satosi in our imagination as long as bitcoin price expensive.

[usorin]

I believe Mr. Satoshi is a humble person, very intelligent and with vision. I dont believe Mr. Satoshi lost anything in the market crash because bitcoin still exist and his dream is becoming reality, step by step, day by day.

[Shinpako09]

Possible but even before that, project btc has been started. So wether he is one ot them or not, btc will be born. Although Satoshi is considered genius, creating btc won't just take a year to be made especially if you are just making it all by yourself. That also make others think that Satoshi is a group.

[BitHodler]

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.

Exactly. It's more likely that he had enough funds to last him a long time, therefore didn't mind spending so much time on a project that just as easily could have failed badly.

The fact that the currently ancient satoshi coins haven't been touched at all, also indicates that satoshi isn't and wasn't in need of money (obviously assuming he's still alive and has full access to all the private keys).

Satoshi is such a mysterious entity that people talk and think on his behalf without knowing who he is. Just let satoshi be who he is and focus on your own goals in life. Bitcoin is the tool helping you to achieve them.

[BlueStackz]

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.

Satoshi only created one project which is bitcoin and any time we mention satoshi and ICO, that is the only project we need to attribute to him which has been a successful ones, we all know that satoshi in his whitepaper did not advise people to use cryptocurrency to raise fund, he only advised of using blockchain technology in solving some challenges of the organization.

The project he even created himself was intended for payment purpose only, the reason why he did his own ICo then was just to get support to be able to make the project a successful one, but ever since other companies saw that it was possible to use it to raise fund, they started copying him.So them not delivering project has nothing to do with satoshi, satoshi delivered his and that is what we are still enjoying till date now.

[coin-investor]

Interesting theory but we must first settle the nationality of Satoshi before we can make that theory, we do not even know if this is an individual or a group of people or a company, I think his works goes back much earlier than 2008, could be 2006 or 2007, and it just materialize on 2008 and 2009.

[bering]

Never cross in my mind about your speculation but indeed nothing impossible in this world as long we don't really know what is the real purposse when Satoshi create bitcoin at that time but besides all of it he or they already makes bitcoin from worthless to valuable and regarding the identities from Satoshi it was successfully hidden from the people

[shield132]

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

Really one of the greatest question that has been asked here, really. Maybe it was one person who lost everything or maybe a group of "avangers" that decided to fight against fiat and government and offer something new that would protect our privacy, freedom of choise and will be seperate from government. But I have another question, one variant is it's the war that they wage but why they disappeared? Sometimes it's a good and clever action but did they continue fight after creating btc? I think again everything turned into personal interests, bitcoin has lost it's first face, aim is lost, it's now financial benefit.

[Barbut]

https://gotsatoshi.com/

Here is the countdown, just 5 more hours and we will find out who is Satoshi Nakamoto! Or maybe not?! I don`t think much about him, I remember reading his last post that he is going off the grid after some agencies starts to search for him, if he wish peace why to not give him peace? He gave us bitcoin, he made many people very rich, can we give him that little thing called peace?
One question is important here, will revealing of Satoshi identity contribute to bitcoin popularity or not?

[Ailmand]

We can't exactly say yes but I guess he was there when such thing happened. I'm sure that he didn't live a perfect life and he also experienced the same hardship but the best thing is he has pass through all those trials. Those things could be his inspiration to create a currency like bitcoin.

[Kevin77]

I think satoshi was someone who was already working on crypto currency way before 2008, he was definitely getting his work done faster because of it but if you check the history of all "e-money" type of deals you will see that it was done before 2008 as well so bitcoin just got more famous because of 2008 but was not created because of it.

I am not so sure about the discussion of "was he one person or was it a whole organization" because at the end of the day there is a lot of bitcoins out there owned by him that is not touched at all, he hasn't written anything at all and he might be even dead by now. So long story short I feel like bitcoin was not created because of 2008 and he was in talks with previous creators of early e-money type of stuff which is enough proof that he didn't lost anything in 2008 to create bitcoin.

[Baofeng]

I was one of the minority here that the creation of bitcoin was due to the economic turmoil we had in 2008 as evident by his reference of the "“Chancellor on Brink of Second Bailout for Banks” in Genesis block. He may have not lost everything though, but I believed that he was deeply affected by the current financial situation that time that he decided to complete his work, released the whitepaper and his creation.

[mu_enrico]

Satoshi only created one project which is bitcoin

The project he even created himself was intended for payment purpose only

Proof? No seriously what's your point?

What I'm saying is that IMO one person could not do what SN did in relation with Bitcoin inception. Since it's a weak argument and my opinion only, I use ICOs as a comparison. ICO with a well-funded team cannot do what SN did. Therefore SN probably is not a human (single person) but a well-funded team, and won't be affected by 2008 market crash.

Above is not a fact, but my opinion supported with logical explanation/story.

[GregH37]

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.

You are right mate, we just need to appreciate his person and not bother much about what lead to why he created the system he created, and for whatever reason for which he has created the cryptocurrency for is not for his own benefits alone but for the benefits of the whole world, he has really made great impact in this world.

We really need more of great minded people as him to move this generation and the next to the next level. Very soon, government themselves are the one that will really be finding a way to get satoshi out in other for them to be able to get more ideas on what he can still offer in the area of economy.

[aioc]

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 all have a theory or thought about Satoshi but yours is not qualified for that, for one I don't think it just started 2008, the guy I believe has been on it, much earlier than that, he studied cryptography much earlier, and if you are so much into what you are experts in, you tend to create something within that.

[serjent05]

You are right mate, we just need to appreciate his person and not bother much about what lead to why he created the system he created, and for whatever reason for which he has created the cryptocurrency for is not for his own benefits alone but for the benefits of the whole world, he has really made great impact in this world.

I believe we need to uncover the reason behind the creation of the system.  That is how we can maximize the potential of the creation.  There is no question about appreciating the person or group that created Bitcoin, but in order to go in the right path (main purpose of the creation) we need to know the hidden or real  agenda  behind the creation.

We really need more of great minded people as him to move this generation and the next to the next level. Very soon, government themselves are the one that will really be finding a way to get satoshi out in other for them to be able to get more ideas on what he can still offer in the area of economy.

Yes, I agree and you did not mention him being selfless.  Shying from the spotlight and to avoid political power influencing the decentralized nature of his/their creation.


With a briliant mind as Satoshi Nakamoto, I doubt he lost everyting in 2008.  I believe he predicted it that resulted for him to research and create something that can pobably solve a global market depression such as 2008 market crash.  He just waited  for the right time to launch it.  And that 2008 market crash is the trigger.

[Thanasis]

Satoshi only created one project which is bitcoin

The project he even created himself was intended for payment purpose only

Proof? No seriously what's your point?

What I'm saying is that IMO one person could not do what SN did in relation with Bitcoin inception. Since it's a weak argument and my opinion only, I use ICOs as a comparison. ICO with a well-funded team cannot do what SN did. Therefore SN probably is not a human (single person) but a well-funded team, and won't be affected by 2008 market crash.

Above is not a fact, but my opinion supported with logical explanation/story.

Maybe Satoshi is the name of group of a people but no one can prove anything elated to it which is the also one of brand factor of bitcoin that is anonymity.

I am not sure that huge funds needed to bring that project but it is hard for a single person to do.

[Supercrypt]

We can't exactly say yes but I guess he was there when such thing happened. I'm sure that he didn't live a perfect life and he also experienced the same hardship but the best thing is he has pass through all those trials. Those things could be his inspiration to create a currency like bitcoin.

We have so many humans in this world that are problems solvers and they don’t have to experience a problem to have a solution to the problem, he might not have even happened to him, but happened to someone close to him and many more people, and then as a thinker, he will start working on a solution that could bring the problem using his IT skills and intelligence.

This was how bill gate too was able to look for a problem and then he worked and solved it which gave birth to what virtually every home is using till today, it dint take bill gate just one day to fulfill his dreams or create awareness for his products, the product itself spoke for him and this is how Bitcoin will speak for satoshi in the future.

[STT]

Definitely a link but as an observer, not someone close to leveraged into absolute losses

The answer is no.   My own perspective it was evolved via things like PGP which was over a decade before, way more then one year of process and that history is already known and discussed and even part of this forums content if finding a few famous threads.
The people who lost most in 2008 and I was on the markets myself at the time and holding bank shares I must admit (I did also short index but yea  ), were leveraged beyond their capacity to pay.    Most obviously it involved home owners, not long term owners as much people who had become reliant on the situation just prior to the bust.   So those who had debt built in the 5 or so years prior to 2007 onwards who could not then afford the unfixed variable rates or justify the large amounts they had borrowed.
   The really simple evaluation of price inaccuracy at that time is the price or cost to service debt exceeded the yield or rental value of that housing.    If it weren't for that, other buyers at some level of pricing will take from those who sell, so it really was a bubble.   I dont see Satoshi was part of that market delusion unless they were forced into that debt and I dont think so because anyone who can derive the workings behind the blockchain can also summarise rental costs vs a ten year moving average of interest rate costs of debt.   Just simple cold thinking would have removed that decision to own more debt as sensible.

It wouldn't make sense to do so well in one well weighted algorithm but to fall foul of an observable bad risk.   Even a normal mortage is debt that should be repaid asap because of compound interest, thats the sensible but boring route.   The market itself takes bad risks on because its funded on highly liquid leveraged money pretty much and at this time the ultimate reason was government backing to the debt which has become something ridiculous like 90% of housing debt is now backed by government.   There was a kind of false arbitrage, this was not a result of a free market and a normal bust falls over much sooner without support