Satoshi's faceless identity is the greatest Bitcoin success strategy

[Ojima-ojo]

One can not conceive any constructive thought about crypto currency without picturing Bitcoin as the symbol of cryptocurrency, in fact, I always tell newbies that there are two types of cryptocurrencies in the world to which are.
1- Bitcoin= decentralized free ecosystem coin aka the king of crypto.
2-  altcoins=shit coin highly centralized and controlled cryptocurrencies aka altcoins.

A close look and observations of both will tell you what their both stand for, their strength and weaknesses e.g
Bitcoin is a highly decentralized digital currency that gives its user total control, this freedom is possible because the Bitcoin network is on an automatic pilot mood. That is to say, no individual owned or control its network, so the room for influence is zero since the Bitcoin creator remain anonymous a long time ago.
Altcoins on the other hand are suffering from the grips of capitalization, over the controlled and highly unsecured method of network protocols, since their creators are known and they have 100% control of the coins, this has made the altcoin market become a dumping ground for bad projects and coin development.
These factors of Satoshi's lawlessness have made Bitcoin stand out and become the image representing cryptocurrency today and if Satoshi is identified today I think Bitcoin will start losing its position as number one.

[Poker Player]

Bitcoin is a highly decentralized digital currency that gives its user total control,

I correct you: it was created in a decentralized way but many people use it through centralized institutions such as exchanges or custodial wallets.

Altcoins on the other hand are suffering from the grips of capitalization, over the controlled and highly unsecured method of network protocols, since their creators are known and they have 100% control of the coins, this has made the altcoin market become a dumping ground for bad projects and coin development.

I don't quite see the analogy here.

These factors of Satoshi's lawlessness have made Bitcoin stand out and become the image representing cryptocurrency today and if Satoshi is identified today I think Bitcoin will start losing its position as number one.

There is a probability close to 0% that he will be identified, so it is better not to speculate with counterfactuals.

[mk4]

Not only his/her/their face, but the fact that we don't know for sure what Satoshi's political views are and who Satoshi's preferred presidential candidate is and all that. All we know is that Satoshi thinks we needed uncensorable money separate from the state, and that's it.

[pooya87]

I disagree with part of what you said.
It is true that Satoshi not being around and being anonymous has removed that "authority figure" that people may want to look up to to see what his decisions are on everything (like waiting for Satoshi to decide what scaling solution to use instead of thinking for themselves) but that is one of the reasons why bitcoin is fully decentralized.
Similarly the reason why majority of altcoins are very centralized isn't only because their creator is known.

For example one of the key factors is the algorithm used in bitcoin, PoW and the way hashrate is distributed has ensured decentralization while in other altcoins same PoW and lack of incentive to mine that altcoin has centralized the hashing power and the altcoin itself. Or other algorithms such as PoS accompanied by large premines has ensured centralization of such altcoins.
We also have altcoins that are designed to be centralized like CBDCs (eg. Petro), stable coins (eg. USDT), exchange coins (eg. BNB), ... because they can not operate any other way not because their creator is known.

[NotATether]

Bitcoin is a highly decentralized digital currency that gives its user total control,

I correct you: it was created in a decentralized way but many people use it through centralized institutions such as exchanges or custodial wallets.

Still, if used correctly, by never touching exchanges, it can make your transactions completely pseudonymous.

Unfortunately most people are here because they want to make a quick buck, hence why all privacy and safety practices are thrown to the side ("Why should I wear a seat belt, there is hardly any traffic on this road.").

The Great Car Crash a few weeks ago demonstrates what happens when you leave your money on centralized platforms.

[bluebit25]

(...)

I don't want to talk about an issue that someone personally feels likes and dislikes the rest, to give one-sided perspectives. Personally, I feel it's not a big deal when the beginning and the process always need to see the kernel separate and intertwined. BTC has been very successful and has its own problems, as do altcoins, but I believe that with a change in the economic perception of technology and many other related factors, everything will look more positive.

[davis196]

These factors of Satoshi's lawlessness have made Bitcoin stand out and become the image representing cryptocurrency today and if Satoshi is identified today I think Bitcoin will start losing its position as number one.

That's an interesting theory, but I have to disagree.
Bitcoin is the number 1 cryptocurrency, because it's the most secure cryptocurrency, not because Satoshi Nakamoto is anonymous.
Imagine if the Bitcoin blockchain had flaws and the problems like double spending weren't solved? Would the BTC blockchain be the most popular blockchain, even if Satoshi remained anonymous? I don't think so. Bitcoin Core has it's team of developers and we have to give them credit. The success of Bitcoin isn't Satoshi's achievement. He is the creator ,but Bitcoin has a community of users, developers and miners.
I don't agree with your views about altcoins. You are generalizing too much. Not all altcoins are centralized shitcoins. Most of them are, but a small amount of altcoins actually have some qualities.

[PX-Z]

You sound like bitcoin and altcoin are too opposite thing, like good and bad. And altcoins are bad and not decentralized because the owners are known while bitcoin isnt.

That's not how decentralization and security of the network determined.

[KennyR]

Satoshi is good with his innovation and never wanted his identity to be revealed. Following his innovation more other people learnt the base and innovated the altcoins as a means to serve as an alternative to the crypto king bitcoin.

Hidden identity makes bitcoin above the altcoins, and for the same reason we can't say altcoins doesn't have anything good. There is pure manipulation, and centralized functioning with altcoins. Same time those too have real-time usage which keeps them on the top of the market.

[TheNineClub]

I don't like this altcoins=shitcoins narative. Therebare shitcoins among them, but altcoins that are legit serve a diferent purpose than BTC and offer something that BTC can't or won't provide. I don't get where this cultish behaviour towards BTC is coming from, but it's more hurting the perception of crypto than it's helping it

[franky1]

bitcoin does not change or still exist because the inventor is not around and is secret
bitcoin has bug fixes and changes through current developers....... and.. guess what.. they are known

wheels on cars dont still turn because the first guy that invented the wheel died. wheels turn because current engineers make wheels for current cars

whether satoshi comes out now and announces him self changes nothing.
the current devs have the control. they make the merges, they make the commits, they decide what does into a release candidate, they offer the updates.

bitcoin is about current devs.

pretending they dont have control and some how satoshi does but chooses not to use it by staying away is the wrong way of describe facts about bitcoin.

satoshi passed his control to other devs, and now its their turn.

there has been many changes in bitcoin in the last 10 years which you can easily affiliate to only a couple of devs.
(segwit=sipa.. wallet stuff=achowe.. mempool stuff in near future=glozow)
 and yep they have names and real world identities which people know. and yes they got paid alot of corporate money for their code changes. (blockstream, chaincode, brink  (chaincode&brink&blockstream majority funded by DCG))

so dont be so utopian about pretending bitcoin is around because inventor has the power but chooses not to use it, while ignoring that current devs do have power and we simply hope they dont abuse it, or pretend current devs are not influenced.

be risk AWARE.. that way we get to keep devs on their toes by knowing we are watching them and reviewing them

if we pretend they dont have power thus ignoring them, allows them silly freedoms to change what they like and think we wont notice, care, put up a fight should they abuse it

[Jawhead999]

Faceless identity is similar like how pseudonymous it is, Satoshi is also unknown whether it's a single person or group and no one will know it.

I don't like this altcoins=shitcoins narative. Therebare shitcoins among them, but altcoins that are legit serve a diferent purpose than BTC and offer something that BTC can't or won't provide. I don't get where this cultish behaviour towards BTC is coming from, but it's more hurting the perception of crypto than it's helping it

Alright, then you can mention what's the altcoins you think that's good coin and explain to me why you can think it's a good coin aside from Monero and DAI. Monero is a privacy coin and completely anonymous, while DAI is decentralized stablecoin and can't be frozen except you hold on centralized exchanges. I will wait your answer

[lionheart78]

One can not conceive any constructive thought about crypto currency without picturing Bitcoin as the symbol of cryptocurrency, in fact, I always tell newbies that there are two types of cryptocurrencies in the world to which are.
1- Bitcoin= decentralized free ecosystem coin aka the king of crypto.
2-  altcoins=shit coin highly centralized and controlled cryptocurrencies aka altcoins.

Why do I feel that there is a lot of misinformation here?  This is very offensive to lots of good altcoin out there.

if Satoshi is identified today I think Bitcoin will start losing its position as number one.

I disagree, Bitcoin become the top 1 among crypto because it is the first decentralized cryptocurrency.  It is the first one to get established and used as a reference for the incoming cryptocurrency.  It is also the first trading pair of any early cryptocurrency.  It is the top one because it is the most used and trusted.  It isn't because Satoshi is anonymous but because of the continuous development of BTC.  Just like davis196 stated, it is because of the hard effort of the Bitcoin developers, community, and miners that keeps Bitcoin on top.  Satoshi became the anonymous figurehead of Bitcoin a long time ago but he isn't the main reason why BTC is top 1.

[Henrobakkara]

One can not conceive any constructive thought about crypto currency without picturing Bitcoin as the symbol of cryptocurrency, in fact, I always tell newbies that there are two types of cryptocurrencies in the world to which are.
1- Bitcoin= decentralized free ecosystem coin aka the king of crypto.
2-  altcoins=shit coin highly centralized and controlled cryptocurrencies aka altcoins.

These factors of Satoshi's lawlessness have made Bitcoin stand out and become the image representing cryptocurrency today and if Satoshi is identified today I think Bitcoin will start losing its position as number one.

From your two points above and your last statement down there, so you are invariably saying that "IF" Satoshi was to be Identified, Bitcoin will lose its value meaning it isn't the decentralization of its ecosystem as a coin that makes it strong but the UnIdentity of Satoshi?
If Bitcoin is decentralized which it is and not controlled by any one person and that has contributed to what has made it what it is today, so would satoshis Identity make it centralized?

[buwaytress]

Not sure I'd use the word lawlessness to describe Satoshi, and also not sure we're really all of us all about the things you mentioned. In particular when remembering some of satoshi's final comments before parting, re wikileaks kicking the hornet's nest and actually asking them NOT to use Bitcoin.

Of course, the context was that Bitcoin was in its infancy, but still, if the faceless identity was the greatest success story, then all of that also needs context.

[yazher]

They cannot mimic whatever innovations they have in their minds when it comes to bitcoins because their idea of decentralization always ended up with centralization which is really bad for the investors whenever some anomaly happened with their devs and the altcoins creator itself. Bitcoins haven't had these features and you all have all the means of control because there's no entity that can control it or automatically lock it from withdrawing which is the best thing you could ever have for a cryptocurrency.

[Husires]

These factors of Satoshi's lawlessness have made Bitcoin stand out and become the image representing cryptocurrency today and if Satoshi is identified today I think Bitcoin will start losing its position as number one.

Your words are contradictory. If it was decentralized, the appearance or disappearance of CEO  would ( Bitcoin is not a company) affect it, and therefore the appearance or disappearance of Satoshi would not affect the decentralization of Bitcoin, and if it was central, then what you started with is considered wrong.

[tranthidung]

Some lessons from Satoshi Nakamoto aka satoshi in Bitcointalk forum are

• If you leak your identity on Internet, you lose it forever.
• Satoshi Nakamoto did aware importance of privacy and cared of it at beginning
• Satoshi's lesson. That topic is very inspirational. You should read it.

[teosanru]

One can not conceive any constructive thought about crypto currency without picturing Bitcoin as the symbol of cryptocurrency, in fact, I always tell newbies that there are two types of cryptocurrencies in the world to which are.
1- Bitcoin= decentralized free ecosystem coin aka the king of crypto.
2-  altcoins=shit coin highly centralized and controlled cryptocurrencies aka altcoins.

A close look and observations of both will tell you what their both stand for, their strength and weaknesses e.g
Bitcoin is a highly decentralized digital currency that gives its user total control, this freedom is possible because the Bitcoin network is on an automatic pilot mood. That is to say, no individual owned or control its network, so the room for influence is zero since the Bitcoin creator remain anonymous a long time ago.
Altcoins on the other hand are suffering from the grips of capitalization, over the controlled and highly unsecured method of network protocols, since their creators are known and they have 100% control of the coins, this has made the altcoin market become a dumping ground for bad projects and coin development.
These factors of Satoshi's lawlessness have made Bitcoin stand out and become the image representing cryptocurrency today and if Satoshi is identified today I think Bitcoin will start losing its position as number one.

I really bet to disagree with your point. Bitcoin too can be called centralized in this context. Satoshi Nakamoto holds 1 Million bitcoins, which is roughly 5% of the total supply of bitcoins as it is 21 Million. This actually is too much and enough to actually call this coin centralized as well. Infact some other cryptocurrencies have even less promoter holding than this. But yes the only advantage here is that one the creator is anonymous and secondly it has not moved even a single penny from what the holds so far which indicates bitcoin is quite safe to hold and obviously much better than the rest.

[Doan9269]

2-  altcoins=shit coin highly centralized and controlled cryptocurrencies aka altcoins.

To cal it all, this is where all forms of fraudulent and fake projects landed at, they make use of altcoin in cryptocurrency as their shield to perpetrate scams and illicit activities, just few altcoins have the conscience of remaining their main purpose and maintaining it, the fake projects troop in this category and promise what is unrealistic but because of what people want out of their inpatient they fall into their trap without realizing any of the said promises.