Impact of bitcoin if Satoshi Identity is revealed

[JohnBitCo]

One of the reason for high trust on bitcoin is that the bitcoin owner Satoshi identity is hidden. If all of sudden Satoshi come in the public and his identity is revealed, do you think it will have a bad impact on the bitcoin price and it can dump?  Or do you think that bitcoin price will pump on this revelation? Mind you that i am talking about the real satoshi, not the fake ones claiming themselves to be satoshi.

[bitmover]

One of the reason for high trust on bitcoin is that the bitcoin owner Satoshi identity is hidden. If all of sudden Satoshi come in the public and his identity is revealed, do you think it will have a bad impact on the bitcoin price and it can dump?  Or do you think that bitcoin price will pump on this revelation? Mind you that i am talking about the real satoshi, not the fake ones claiming themselves to be satoshi.

Is the price the only aspect of bitcoin you care about?

Bitcoin decentralization would receive a great blow if somehow Satoshi come back from nowhere.  He would become something like Bitcoin CEO or ambassor, and decisions would somehow become centralized on him.

Price is always hard to predict. In short term it even might go up. But in long term, bitcoin certainly wouldn't be what it is today.

Fortunately,  this is only a speculation and Satoshi will most likely never Reaveal himself

[ABCbits]

Bitcoin decentralization would receive a great blow if somehow Satoshi come back from nowhere.  He would become something like Bitcoin CEO or ambassor, and decisions would somehow become centralized on him.

That's assuming Satoshi is still alive and participate on Bitcoin development/adoption. I fear more Satoshi's background/identity could be used to attack Bitcoin reputation.

[lovesmayfamilis]

One of the reason for high trust on bitcoin is that the bitcoin owner Satoshi identity is hidden.

The first sentence reads like a statement. Can you please explain why I can't trust bitcoin, knowing the real identity of who invented it? Maybe I don't understand something? Does this mean that I should not trust other discoveries, since I know the identity of the inventors?

[_act_]

Satoshi Nakamoto is anyone that contributes to bitcoin adoption, I mean the developers, the miners, those that are running nodes and everyone that is making use of bitcoin. Why revealing what is revealed already? Anyone that comes and says he is Satoshi, he is definitely lying. It is like that by the developer because they want bitcoin to be fully decentralized.

[hatshepsut93]

It would cause a short-term turmoil, that's for sure. After that it would depend on Satoshi's actions. There are many possibilities. Would he support the current course of Bitcoin development or criticize it? Will he step up as a leader of Bitcoin, or maintain distance? Will Satoshi even be contacted, or will we just know the name, while the person will remain unreachable? But I would guess that revealing Satoshi will be a net negative, the current structure of Bitcoin development with no central figures worked well so far, any disruption to this could cause damage to Bitcoin's community and Bitcoin's image.

[kaya11]

One of the reason for high trust on bitcoin is that the bitcoin owner Satoshi identity is hidden. If all of sudden Satoshi come in the public and his identity is revealed, do you think it will have a bad impact on the bitcoin price and it can dump?  Or do you think that bitcoin price will pump on this revelation? Mind you that i am talking about the real satoshi, not the fake ones claiming themselves to be satoshi.

There will be lots of scenarios, one is that he will be invited by leading scientist in the world to tackle and discuss innovative technology. I think not only blockchain is in his (Satoshi) head but there could be a lot and more interesting ideas too.
Well the price could be down but it won't stay that low forever as it will depend on his next moves if ever he ever shows up. What if he gives up on his bitcoins and shares it to the community? Or airdrop it to people who owns bitcoins already, that way the people would buy more right? There are good sides too even he shows up am I right?

[titular]

I wrote about this a while back.

Identifying Satoshi would be an ugly experience for sure. The smear campaign would be one for the history books.

[Slow death]

well satoshi has a lot of bitcoins so you can already imagine how it would generate a big panic in the market if he revealed his identity, but it would be a temporary panic until people realized he wouldn't do anything. even if he sells his bitcoins and the price drops in the long term the price would bounce back so the impact of a satoshi comeback would be a negative impact temporarily

[sarmrakib]

One of the reason for high trust on bitcoin is that the bitcoin owner Satoshi identity is hidden. If all of sudden Satoshi come in the public and his identity is revealed, do you think it will have a bad impact on the bitcoin price and it can dump?  Or do you think that bitcoin price will pump on this revelation? Mind you that i am talking about the real satoshi, not the fake ones claiming themselves to be satoshi.

Its really a different thinking if Sathoshi revealed what kind of situation we can face .I think there is no chance more that the identity will be reveled .If he or the team wanna  expose themselves it could be happen within this time we are here spending .Its a long time have passed the crypto are running through out the world and get its popularity .If Sthoshi want we could see him in this time  .However if he exposed to the world there will be happen many things positively .We can get many more information and new different things of technology from him .I hope the market will flow positively and we can get more innovation.

[franky1]

One of the reason for high trust on bitcoin is that the bitcoin owner Satoshi identity is hidden. If all of sudden Satoshi come in the public and his identity is revealed, do you think it will have a bad impact on the bitcoin price and it can dump?  Or do you think that bitcoin price will pump on this revelation? Mind you that i am talking about the real satoshi, not the fake ones claiming themselves to be satoshi.

THE reason of high trust of bitcoin is that there is no hidden code, no back door. no red button that can cause an instant sell off of all coin by any reference client dev

the "reference" client everyone follows is open source. (even if there is a hierarchy to who gets to edit or add code decisions)

the only issue remains, is that core is deemed the "reference" / core client everyone should follow and there is only a couple 'maintainers' that have the github privilege to merge code into final release candidate software versions which everyone follows.

but satoshi is not one of those maintainers, so it doesnt mean anything to the code/trust of the spftware if satoshi is found or not.
.. infact the real identity of the current core maintainers is known and no one actually cares about their privilege of merging code.
no one is in fear that those maintainers could be arrested and forced to hand over their github logins for interference purposes of changing code

i do not believe that satoshi wanted to intentionally hoard and keep the private keys of his 2009-10 activities. because back in his day the coin had no significant value, thus they had no worth in hoarding

i believe due to making code edits and updates he probably lost alot of private keys or never intended to keep them in the first place. and so even if found. as long as no one finds his private keys or forces him to spend the coin. then the price will not change directly.

of course emotional speculation of social drama will cause some kind of indirect change. but that would be just a 'famous for 5 minutes' temporary price pump/dump. and become a meaningless wiggle on the price chart after a few days of correction

but with that said, i do not believe the creator kept wallet backup's of keys and so cant sign any utxo to spend coins nor even sign any message to prove himself(the only proof the community will accept) and so the creator will never be found/proved

[Ale88]

One of the reason for high trust on bitcoin is that the bitcoin owner Satoshi identity is hidden. If all of sudden Satoshi come in the public and his identity is revealed, do you think it will have a bad impact on the bitcoin price and it can dump?  Or do you think that bitcoin price will pump on this revelation? Mind you that i am talking about the real satoshi, not the fake ones claiming themselves to be satoshi.

If Satoshi would go public probably the price would go down since there would be a lot of speculation and many people could be afraid of Satoshi selling his bitcoins. We get daily FUD about pretty much everything, in that case it would be a mess, at least in the short term. Anyway I don't see a single reason why Satoshi should reveal himself now, disappearing was part of the plan.

[Haileyshappy]

Satoshi 's identity is not important to Bitcoin. From what I gathered he was just a fictional character, made by an extremely talented coder or group of coders. His place in Bitcoin was purely to start the program and offer tech support until it grew up enough to run on its own. If we knew the coders the world would not change, except maybe for Craig Wright and other imposters.  The fictional character of Satoshi is just that a mythical creature.  He will never be a real living person.  On the other hand, if we could make the imposters fictional characters it would be of great value to the project, since their lies have devalued Bitcoin's reputation. The association of Bitcoin to a person is not valuable.  Satoshi could very possibly have been artificial intelligence showing what it was capable of.

[fiulpro]

If the person turns out to be someone like Craig wright which I don't think might happen, people will ofcourse take a step back, but I do believe that Satoshi is a normal IT guy who made bitcoins with his friends and workers, he took extra care of the fact that considering the amount of bitcoins he holds, people can bring harm to his family members. Also there would be investigations by the governmental bodies which would be a bit extra as well, therefore it does him more harm than good to reveal himself. Therefore in the future the relevancy of his identity being a threat might be bleak since people would look past it definitely, bitcoins is bitcoins, it's much more than an invention or any sort or investment perse

[Beerwizzard]

If the person turns out to be someone like Craig wright....

I'll never believe that such morons can stay silent for so long. BTC creator is either a patient and intelligent person or he is already dead.

From what I've heard, the most realistic guess was made by Elon Musk. He claimed that Nick Szabo might be Satoshi (he is a high skilled cryptography expert irl). Such guess was made due to his linguistic research.
Source: https://markets.businessinsider.com/news/currencies/elon-musk-bitcoin-satoshi-nakamoto-creator-cryptocurrency-history-2021-12

Anyway, It is better to treat BTC and blockchain for their performance.

[LogitechMouse]

One of the reason for high trust on bitcoin is that the bitcoin owner Satoshi identity is hidden. If all of sudden Satoshi come in the public and his identity is revealed, do you think it will have a bad impact on the bitcoin price and it can dump?  Or do you think that bitcoin price will pump on this revelation? Mind you that i am talking about the real satoshi, not the fake ones claiming themselves to be satoshi.

Bitcoin might turn from a decentralized coin into a centralized one if Satoshi comes out of nowhere. Another thing is we don't know if Satoshi is still alive until now.
With regards to price, since there is a chance that it might change into a centralized coin there might be a huge impact to its price but we don't know if it will be a positive or a negative one by I think more of a negative one. My opinion only though.

After all, I think its best for the real creator of Bitcoin to just stay hidden and unidentified because that would be better for him in terms of security as well as his life (since he is holding a million Bitcoins).

If the person turns out to be someone like Craig wright...

If Faketoshi can prove that he really is Satoshi, I might sell all of my Bitcoin holdings . JK

[Despairo]

Bitcoin might turn from a decentralized coin into a centralized one if Satoshi comes out of nowhere.

What?
Everyone knows Bitcoin was created by single person e.g. Satoshi, so it doesn't matter if he comes out now or in the future, Bitcoin will always remain decentralized. It's possible to change Bitcoin protocols, mechanism and switching POW to POS, but that's mean he need to change everything on Bitcoin. There are so many contributors and developers helping the Bitcoin development, not only Satoshi. Even Satoshi ask them to change it, I doubt all the contributors will agree with him.

[aoluain]

One of the reason for high trust on bitcoin is that the bitcoin owner Satoshi identity is hidden. If all of sudden Satoshi come in the public and his identity is revealed, do you think it will have a bad impact on the bitcoin price and it can dump?  Or do you think that bitcoin price will pump on this revelation? Mind you that i am talking about the real satoshi, not the fake ones claiming themselves to be satoshi.

THE reason of high trust of bitcoin is that there is no hidden code, no back door. no red button that can cause an instant sell off of all coin by any reference client dev

the "reference" client everyone follows is open source. (even if there is a hierarchy to who gets to edit or add code decisions)

the only issue remains, is that core is deemed the "reference" / core client everyone should follow and there is only a couple 'maintainers' that have the github privilege to merge code into final release candidate software versions which everyone follows.

but satoshi is not one of those maintainers, so it doesnt mean anything to the code/trust of the spftware if satoshi is found or not.
.. infact the real identity of the current core maintainers is known and no one actually cares about their privilege of merging code.
no one is in fear that those maintainers could be arrested and forced to hand over their github logins for interference purposes of changing code

i do not believe that satoshi wanted to intentionally hoard and keep the private keys of his 2009-10 activities. because back in his day the coin had no significant value, thus they had no worth in hoarding

i believe due to making code edits and updates he probably lost alot of private keys or never intended to keep them in the first place. and so even if found. as long as no one finds his private keys or forces him to spend the coin. then the price will not change directly.

of course emotional speculation of social drama will cause some kind of indirect change. but that would be just a 'famous for 5 minutes' temporary price pump/dump. and become a meaningless wiggle on the price chart after a few days of correction

but with that said, i do not believe the creator kept wallet backup's of keys and so cant sign any utxo to spend coins nor even sign any message to prove himself(the only proof the community will accept) and so the creator will never be found/proved

I really believe and have considered almost everything franky1 posted above.

I never considered though that Satoshi may have voluntarily removed him/her self from
the project at an opportune time without leaving any chances of claiming ownership
of mined coins, this for the benefit of the project. Satoshi was definitely a forward planner,
they would have to be to create Bitcoin in the first place.

Knowing that the Satoshi identity could cause turmoil then and in the future would surely
mean walking away, closing the door and throwing away the key....forever.

So yea if it ever arose that Satoshi's identity was discovered or it was revealed
nothing would change in relation to the day to day operation of the protocol, but
the speculation in the market would be definitely noticeable.....short term.

[The Cryptovator]

I can't say anything about the price, but there would be a very bad impact on Bitcoin that we aren't ready for. Because due to low of different countries Satoshi would be in trouble. For example, if Satoshi is arrested by legal authority then imagine what would happen with Bitcoin price. On the other hand, criminals would attack him as well to Blackmail him and could retrieve BTC. For me, I can't see any positive impact revealed real satoshi identity. Then Bitcoin would become centralized like other Altcoins where is the chances of losing value.

[Mpamaegbu]

OP, I don't think the world cares anymore about discovering Satoshi. Bitcoin is on autopilot, so to say. Whether Satoshi appears from the blues or not (that's if he's an individual and is still alive) doesn't matter any more. Bitcoin is able to attain it's height because of its security features which have earned it trust from the community. If anything, the world knows of Martti Malmi (Sirius) who's an important person in the development of Bitcoin but that hasn't in anyway affected Bitcoin. Malmi grants interviews and talks about Bitcoin and an insider but people don't seem to care what actions he gets involved in. They don't see him any differently apart from his ingenuity. Maybe that's how the world will react to Satoshi if he surprisedly appears on the scene now. What if in the likely case that Malmi turns out to be Satoshi, I still believe life will just go on as usual. Except for him who will be needing extra security around himself.

THE reason of high trust of bitcoin is that there is no hidden code, no back door. no red button that can cause an instant sell off of all coin by any reference client dev

That should be it and not because Satoshi's identity is hidden.