Why Satoshi was dumb

[meser#]

I have great respect for him. Because if he had followed the steps you mentioned. You wouldn't be talking like that today. You would be lost in the false freedom that centralization gives you. Yes, it's hard to reject what you're talking about, but great victories require great sacrifices. If he had chosen the easiest way, we wouldn't call him satoshi, he would be Yoda7331 

[1714778873]

1714778873

[Ale88]

I woke up today, completely lucid, with the following realization: Satoshi was naive at worst and plain dumb at worst.

Back in 2008/2009 when Satoshi created/launched Bitcoin, he made the decision to 1) Have no premine 2) Never spent any of the coins he minted. 3) Disappear to eradicate himself as the last form of 'authority'. His reasoning probably being that nobody in their right mind would buy into a crypto that was unfairly distributed from the beginning, of which its creators would stand to benefit most and was controlled by them. I think at this point, you realize where I'm going with this.

13 years later, there are many thousands of shitcoins, most of which had some form of premine, made the creators bank and are still in control to a high degree. These shitecoins are worth millions and some even 100s of billions.

Even a genius like Satoshi miscalculated the stupidity, ignorance and greed of the average person

Not a bad presentation for being your first post in this forum... If Satoshi was so dumb why didn't you create a better bitcoin before him? It took you 13 years just to say that things could have been done in a different way? I hope this is a joke post because none of what you said makes sense.

[thecodebear]

ha yeah funny. Satoshi gave the world something pure, and by doing so it allowed a bunch of people to come make far worse versions to get rich off them. But of course if Satoshi had gone that route crypto never would have gained popularity in the first place and it would have died in its infancy. Funny how things work like that.

[riso2015]

You are now good at reading people's minds, you even dare to say Satoshi is stupid, right as you said satoshi is stupid because he is not selfish and does not want to be seen as a genius, because he is not naive, and does not want to take advantage of his followers. , unlike other bosses who are good at enriching themselves, after they issue new coins.

[lepbagong]

You are now good at reading people's minds, you even dare to say Satoshi is stupid, right as you said satoshi is stupid because he is not selfish and does not want to be seen as a genius, because he is not naive, and does not want to take advantage of his followers. , unlike other bosses who are good at enriching themselves, after they issue new coins.

satoshi is not stupid but he is not greedy like most people, he wants to give knowledge to all that happiness is being able to give trust to others to be able to benefit from what has been done for now, later or in the future.

agree with my friend above, that satoshi is actually a genius and seems simple and not naive to want to take advantage of what can actually be done, but he doesn't want to be equated with other humans who are full of greed if they have something only for individuals and groups.

[ivankoh]

My thinking is simply that silence is his way of truly “respecting” bitcoin.  Basically satoshi wallets can also be checked and marked thoroughly, so even if the genius is still alive, I think he was smart to keep the bitcoins anonymous which is also what makes the difference  greatness of bitcoin.

[OgNasty]

Even a genius like Satoshi miscalculated the stupidity, ignorance and greed of the average person

I don't think this is true at all.  Bitcoin is actually based on greed and without could not function.  Some might call it Game Theory which powers the beauty of Bitcoin's security model.  Miners are counted on to act in the most greedy way possible (using the most high value transactions from the mempool and as many as they can fit in a block) in order to earn rewards for their effort in security the blockchain.  Without the greed of miners, Bitcoin's security model would be severely flawed.  So while you say satoshi miscalculated the greed of the average person, I would say that he not only did not do that, he counted on their greed surpassing attempts by others to bring the transaction processing to a halt. 

[BlackHatCoiner]

Bitcoin is actually based on greed and without could not function.

There's difference between incentive and greed. Incentive is when you're motivated to do something for you or/and the common good and has a nearly positive meaning. For example, we say that you're incentivized to recycle if there's a law that charges those who don't. On the other hand, greed is by definition, negative. You use it to describe bad things, such as eating while you're full.

Miners are incentivized to earn their reward as they only do good. Environmental issues? No problem, they're incentivized to switch to cheaper, renewable ones.

[kryptqnick]

Op, I'm not sure what stuff you were on when you came to this realization, but it seems far from the truth. Maybe Satoshi didn't spend the coins because it's not time for it yet, or maybe it's because Satoshi died. Also, while it's true that it's more in line with the decentralized project to not have the overwhelming influence of one person (which would've been the case if Satoshi remained involved), it's not removing the last form of authority. And I don't think Satoshi intended to get as much money out of BTC as possible or that having no premining was a mistake.

[Oilacris]

Even a genius like Satoshi miscalculated the stupidity, ignorance and greed of the average person

Come to think that he was never intending for his creation to become this big because all the thing he do need to do is to make something a payment system which doesnt have 3rd party.
He was never intending to become rich or something like that and we dont know on what future holds and for those premined coins then if he has the plans then he would accumulate on bigger
percentage in overall current supply and had able to sell off into those ATH times and make himself rich but we've seen nothing.