Impact of bitcoin if Satoshi Identity is revealed

[Wind_FURY]

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

It's because the Bitcoin network has continued doing its job without down-time, and maintaining its ethos/social contract with the community.

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.

I believe no one would care who Satoshi is. The community might care out of curiousity, but not to decide whether Bitcoin is "good or bad" depending on who Satoshi is. That would be laughable, and stupid. Would you dump Bitcoin if it's proven that Satoshi is Hal Finney or Adam Back?

[tbterryboy]

I honestly believe that he is dead. I believe it was Hal Finney, and since he is dead (though cryopreserved) I believe that satoshi is dead as well. I get that he was the first person to ever receive bitcoin from satoshi, which makes people question "why would anyone who wants to hide who they are, would send it to their public name as the first transaction" but I think that was an obvious way of hiding, he was trying to say "it's so obvious that it is not true because it can't be that simple".

Have we heard from satoshi since then? Like officially? I think he wasn't heard as far as I know. It is a probability that it was him, and he is gone, and that money is gone. If any miracle happens and if Satoshi comes back, then I guess that would stir up this crypto community which will trigger more massive adoption somehow in my opinion.

[suzanne5223]

Some years ago when a topic like this was discussed a lot of people believe if Satoshi's identity is revealed the BTC in his wallet may influence the price of the market but with the current stance of the market, I don't think thats an option again. However, the only thing I think will be the problem if it happens his identity is disclosed is a possible attack on him (Satoshi) by Bitcoin haters which could impact the Bitcoin status.

The real strength of bitcoin in my opinion is decentralization not due to the anonymity of satoshi identity. If satoshi were a group of people it would most likely be exposed more quickly when they no longer have the same thoughts, but for me satoshi are individuals whose secrecy has been maintained until now.

When Satoshi's identity becomes public, the consequences are enormous for him. We will see his photo on a giant banner by the roadside as the bitcoin price drops and it is an inevitable part of his known identity. Fortunately, until now the satoshi has not been revealed so that there is no opposition to it from various parties (government, individuals).

Yes, the strength of Bitcoin was in decentralization, no censorship, etc. But, the anonymity of Satoshi keeps Bitcoin's reputation cause if the identity of Satoshi is revealed we will see some organizations that will make die threat or bring up a criminal case against Satoshi just to ruin Bitcoin's reputation.
Meanwhile, it is hard to know if Satoshi is a group or an individual, and Satoshi's identity not knowing his identity now does mean justify Satoshi to be an individual.

[franky1]

satoshi has no control of the bitcoin network. there is no backdoor that he has access to. so a government cant do anything about it if he was found. there is no threat or harm

satoshi is not hiding due to any threat of government grabbing him. he just didnt want to be seen/treated as a central reference point back in 2010 because some people were blindly following him, which went against the point of bitcoin

in recent years however, there are 3 people that do have the github control of the main reference client software upgrades, which pretty much everyone blindly follows.., they are publicly known people and yet governments are not chasing them. so this proves that the government are not bothered about gaining control of things like bitcoin core

if the government wanted to grab someone that does have some form of control. it would be those that have the github access to implement new release candidates of bitcoin core. however governments can simply make a court order to hand to github itself to gain access to github. and again this has not happened, thus no real threat.

[hemzer]

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.

Satoshi gave the code away to public. He is not controlling the code base or it is not closed source.
What difference would it make if he shows up to a party?

PS: What if he is actually a Washington insider a closet politician / coder?

[hemzer]

satoshi has no control of the bitcoin network. there is no backdoor that he has access to. so a government cant do anything about it if he was found. there is no threat or harm

satoshi is not hiding due to any threat of government grabbing him. he just didnt want to be seen/treated as a central reference point back in 2010 because some people were blindly following him, which went against the point of bitcoin

in recent years however, there are 3 people that do have the github control of the main reference client software upgrades, which pretty much everyone blindly follows.., they are publicly known people and yet governments are not chasing them. so this proves that the government are not bothered about gaining control of things like bitcoin core

if the government wanted to grab someone that does have some form of control. it would be those that have the github access to implement new release candidates of bitcoin core. however governments can simply make a court order to hand to github itself to gain access to github. and again this has not happened, thus no real threat.

I agree partially with what you have to say.
If Github is compromised like that. They will just fork the code and new chain will continue.
How many bitcoiners/miners want to be part of the Government Bitcoin chain?

[franky1]

I agree partially with what you have to say.
If Github is compromised like that. They will just fork the code and new chain will continue.
How many bitcoiners/miners want to be part of the Government Bitcoin chain?

if we want to play tinfoil hat hypotheticals.. lets go

if government gained access to github and compromised it. yes people will just use a different software development site to distribute open code from. however people would lose trust of the new source. and it would take time to build up reputation to trust the dev team and the code they have moved to the new development site.

yes the code is open and anyone can review it. but currently people just review the changes that are added to github per release, and dont actually re-read every single line of code per each release. however changing to a new development tool site, means people would initially need to review the entire source code line by line just to be sure its the same as the old sites version. .. so it would take time to trust a new release candidate from a different development tool site

[tabas]

IMHO, it doesn't matter anymore. Bitcoin relying on its value would depend now on the community together with supply and demand.
So if Satoshi shows up, it's possible that there could be temporary dump. But we know what else could come next to it, everyone would rush to buy those cheap bitcoins or the financial institutions that have been doing that are the ones to do it for us.

[franky1]

IMHO, it doesn't matter anymore. Bitcoin relying on its value would depend now on the community together with supply and demand.
So if Satoshi shows up, it's possible that there could be temporary dump. But we know what else could come next to it, everyone would rush to buy those cheap bitcoins or the financial institutions that have been doing that are the ones to do it for us.

if satoshi wanted to stay anonymous while also "cashing out" (if he had the keys). he would not sign up to some mainstream exchange and input his bank details and KYC stuff. instead he would use an OTC service with someone he trusts.
these OTC services do not affect the mainstream exchange market prices. because they are 'off-market' methods of trading coins.
EG if he was willing to dump 1milll coins and was willing to accept just $1k a coin(becoming a billionaire). knowing dumping on a mainstream exchange market would cause such a drop with just a few thousand coin sell off anyway. he could easily find a few large investors on the OTC services willing to take that deal and keep his identity a secret, whilst not directly affecting the exchange market price.

what would happen is that the social drama of speculation would cause some idiots to panic sell thinking the coin movements is an impending exchange market sell off yet to come. and so indirectly cause some social drama dump that will correct back up once emotions have relaxed after a few hours/days

[tabas]

IMHO, it doesn't matter anymore. Bitcoin relying on its value would depend now on the community together with supply and demand.
So if Satoshi shows up, it's possible that there could be temporary dump. But we know what else could come next to it, everyone would rush to buy those cheap bitcoins or the financial institutions that have been doing that are the ones to do it for us.

if satoshi wanted to stay anonymous while also "cashing out" (if he had the keys). he would not sign up to some mainstream exchange and input his bank details and KYC stuff. instead he would use an OTC service with someone he trusts.
these OTC services do not affect the mainstream exchange market prices. because they are 'off-market' methods of trading coins.
EG if he was willing to dump 1milll coins and was willing to accept just $1k a coin(becoming a billionaire). knowing dumping on a mainstream exchange market would cause such a drop with just a few thousand coin sell off anyway. he could easily find a few large investors on the OTC services willing to take that deal and keep his identity a secret, whilst not directly affecting the exchange market price.

what would happen is that the social drama of speculation would cause some idiots to panic sell thinking the coin movements is an impending exchange market sell off yet to come. and so indirectly cause some social drama dump that will correct back up once emotions have relaxed after a few hours/days

Yeah, as said, there could be a temporary dump after he's shown up. But for years of having that 1 million bitcoin in pieces, in quantity. If he really has the intention to sell then he have done that already when bitcoin reached its thousand dollar value for the first time. Someone who's happily going to cash out with that amount just like us, we're the same in thinking that it has been done already. But just like what I've said, the market is now in the hands of the community and as well as the whales portrays a role still.

[perfect999]

the strength of Bitcoin was in decentralization, no censorship, etc. But, the anonymity of Satoshi keeps Bitcoin's reputation cause if the identity of Satoshi is revealed we will see some organizations that will make die threat or bring up a criminal case against Satoshi just to ruin Bitcoin's reputation.
Meanwhile, it is hard to know if Satoshi is a group or an individual, and Satoshi's identity not knowing his identity now does mean justify Satoshi to be an individual.

Why will they do that, why will they threaten the guy when the guy is innocent and didn't do any bad deals with them. It's only in their head that they think satoshis creation bitcoin have impacted their business badly but the truth is it didn't. Why can't they just improve their own creations so that it will perform better and maybe people will stick more to it.

If let say that satoshi revealed himself one day and he will get arrested or what, btc will still be btc and I think btc will become more stronger because people are showing that they are with satoshi. If there is something that they can help, that is by investing and holding more bitcoins.

[ReiMomo]

I dont think Bitcoin value and its demand would get decreased if Sotoshi is identified. I am sure Bitcoin's growth was depending on its network and etc. Yes there were lots of struggles in the beginning but then yes the growth has been amazing. Everyone would greatly welcome Satoshi. He will be looked up on unique and yes he will be spoken in history. But I am sure the demand for it will not decrease.

[suzanne5223]

the strength of Bitcoin was in decentralization, no censorship, etc. But, the anonymity of Satoshi keeps Bitcoin's reputation cause if the identity of Satoshi is revealed we will see some organizations that will make die threat or bring up a criminal case against Satoshi just to ruin Bitcoin's reputation.
Meanwhile, it is hard to know if Satoshi is a group or an individual, and Satoshi's identity not knowing his identity now does mean justify Satoshi to be an individual.

Why will they do that, why will they threaten the guy when the guy is innocent and didn't do any bad deals with them. It's only in their head that they think satoshis creation bitcoin have impacted their business badly but the truth is it didn't.

You have a point but to understand some people don't like their competitor to thrive more than them and when such things happen the only thing they will be after is the downfall of the project creator cause they know they can shut down the project is the leader found guilty of the crime planned by them.

This also happens in the cryptocurrency ecosystem where some projects experience double-spending attacks which are mostly executed by competitors.

Why can't they just improve their own creations so that it will perform better and maybe people will stick more to it.

To some people, this is never an option.

If let say that satoshi revealed himself one day and he will get arrested or what, btc will still be btc and I think btc will become more stronger because people are showing that they are with satoshi. If there is something that they can help, that is by investing and holding more bitcoins.

I think on the reason why he/she got arrested but I am sure some people won't stop until they take him down and also find something to make Bitcoin more restricted.

[LUCKMCFLY]

I dont think Bitcoin value and its demand would get decreased if Sotoshi is identified. I am sure Bitcoin's growth was depending on its network and etc. Yes there were lots of struggles in the beginning but then yes the growth has been amazing. Everyone would greatly welcome Satoshi. He will be looked up on unique and yes he will be spoken in history. But I am sure the demand for it will not decrease.

Well, as in any traditional system, when Satoshi's identity is revealed, it results in his being arrested without saying a word, therefore for me it is much better for him to remain anonymous, both for the market demand to continue to increase and for that he never give governments the pleasure of seeing him behind bars.

In addition, the Bitcoin market has been going on for more than 10 years, it is proven that it is not a bubble and that it is being regulated by the governments because they know that the BTC at any moment could reach a taste of $100k.