Satoshi's faceless identity is the greatest Bitcoin success strategy

[Wiwo]

Bitcoin's decentralized nature has made it possible for Bitcoin users to maintain high privacy, but even at that there have been a lot of speculations around Satoshi's identity but again none of his social media or other communication channels have been active since his exit from the science some years ago.

[teosanru]

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.

Satoshi Nakamoto Bitcoin holding is actually more than 1 million as you mentioned, and no bits have been used since the bitcoin was locked in Satoshi's wallets. But no one knows if Satoshi still has access to the wallet holding the coins.

I think this is pretty stupid to think that because he hasn't moved a single bitcoin from his address he might have lost the private key. There are huge chances he has some other wallet as well which we people aren't aware of and is enough for him to do his daily transactions and he is just keeping his bitcoin locked for the right time moreover he knows even a slightest of movement from his vault will attract huge attention from throughout the world so he might also not be doing this because of this.

[Vaskiy]

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.

Satoshi Nakamoto Bitcoin holding is actually more than 1 million as you mentioned, and no bits have been used since the bitcoin was locked in Satoshi's wallets. But no one knows if Satoshi still has access to the wallet holding the coins.

I think this is pretty stupid to think that because he hasn't moved a single bitcoin from his address he might have lost the private key. There are huge chances he has some other wallet as well which we people aren't aware of and is enough for him to do his daily transactions and he is just keeping his bitcoin locked for the right time moreover he knows even a slightest of movement from his vault will attract huge attention from throughout the world so he might also not be doing this because of this.

Years have passed and no transaction is made from that specific wallet. This increases the trust over the network, because a transaction made from the particular wallet will surely make disturbance in the market. In specific the network might loss it's feature of functioning without lying on someone's decision.

[Fatunad]

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.

Satoshi Nakamoto Bitcoin holding is actually more than 1 million as you mentioned, and no bits have been used since the bitcoin was locked in Satoshi's wallets. But no one knows if Satoshi still has access to the wallet holding the coins.

I think this is pretty stupid to think that because he hasn't moved a single bitcoin from his address he might have lost the private key. There are huge chances he has some other wallet as well which we people aren't aware of and is enough for him to do his daily transactions and he is just keeping his bitcoin locked for the right time moreover he knows even a slightest of movement from his vault will attract huge attention from throughout the world so he might also not be doing this because of this.

Years have passed and no transaction is made from that specific wallet. This increases the trust over the network, because a transaction made from the particular wallet will surely make disturbance in the market. In specific the network might loss it's feature of functioning without lying on someone's decision.

Moving funds into those known satoshi wallet or any of them would really be signifying that Satoshi is still alive and i dont see for it to be a negative thing but rather a positive one since the entire community do knows
that he's still living and rather give out that kind of boost up and so much trust in bitcoin although there are some cons with it which some people might be thinking that he came back just for him to sell off this bag
which might create some fud and panic on the entire market although we cant be sure but the probabilities are  there and we know on how peoples mind do really play on these particular times.
For now lets just not stress ourselves on finding satoshi because it cant really be known whether his still existing or already dead.

[BitcoinPanther]

Can we truly peg Bitcoins as a Decentralized heaven?

We are now seeing a bit of centralization all because of the whales and the government who are trying to somehow manipulate the market while making sure that they are able to gain profits from it.

IMHO, (I might be wrong)Bitcoin development decision is centralized though since the majority of the influence is coming from a small group of people.  Even though we ought to believe that the consensus of implementing such development is decentralized but the decisions are decided by the one who has the major hashes.

I do think that Mr. Satoshi just like the artists Sia and Marshmallow did not only create anonymity through their hidden identity but also generated tons of interest as well. I do think that it's impossible to know what the government will do with him once they do catch him, they might try and find out if he was actually using this for some other purposes like collecting data etc. One cannot guarantee his security as well.

As franky1 stated, they will do nothing to Satoshi, since the founder of LTC, ETH is still free.

[famososMuertos]

Currently the majority of new users who come to bitcoin are not interested in such a relevant characteristic of bitcoin, sometimes they do not even care about learning who Satoshi Nakamoto is or what he represents in his eventual anonymity for bitcoin.

On the other hand, criticizing other crypto projects for their eventual customization would have nothing to do with the success or failure of those projects.

[kryptqnick]

I agree with the op that it's great that Bitcoin creator remains anonymous. Whoever this person really is, not only would that person have a major effect on Bitcoin development over the years (which is a downside for something that calls for decentralization), I think Bitcoin would also be less popular. That's because no matter who that person is, somebody would be unhappy with this person's views, beliefs, actions etc. If it's a social democrat, conservatives would be very unhappy. If it's a person who committed some serious crimes, supports Russia or is a fan of flat Earth society, it would also put a ton of people off. The less we know and the less influence Satoshi has, the better. It is true decentralization in action.

[fuguebtc]

Currently the majority of new users who come to bitcoin are not interested in such a relevant characteristic of bitcoin, sometimes they do not even care about learning who Satoshi Nakamoto is or what he represents in his eventual anonymity for bitcoin.

On the other hand, criticizing other crypto projects for their eventual customization would have nothing to do with the success or failure of those projects.

What they are interested in right now is profit, how can they make money and become rich thanks to bitcoin. I guess a lot of new entrants in the market these days not only don't care who Satoshi is but never read its white paper, they only care about the price. What price to buy and when to sell to make a profit.

~

As franky1 stated, they will do nothing to Satoshi, since the founder of LTC, ETH is still free.

There's still no guarantee they won't do anything to him, so he'd better remain anonymous forever.

[teosanru]

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.

Satoshi Nakamoto Bitcoin holding is actually more than 1 million as you mentioned, and no bits have been used since the bitcoin was locked in Satoshi's wallets. But no one knows if Satoshi still has access to the wallet holding the coins.

I think this is pretty stupid to think that because he hasn't moved a single bitcoin from his address he might have lost the private key. There are huge chances he has some other wallet as well which we people aren't aware of and is enough for him to do his daily transactions and he is just keeping his bitcoin locked for the right time moreover he knows even a slightest of movement from his vault will attract huge attention from throughout the world so he might also not be doing this because of this.

Years have passed and no transaction is made from that specific wallet. This increases the trust over the network, because a transaction made from the particular wallet will surely make disturbance in the market. In specific the network might loss it's feature of functioning without lying on someone's decision.

Moving funds into those known satoshi wallet or any of them would really be signifying that Satoshi is still alive and i dont see for it to be a negative thing but rather a positive one since the entire community do knows
that he's still living and rather give out that kind of boost up and so much trust in bitcoin although there are some cons with it which some people might be thinking that he came back just for him to sell off this bag
which might create some fud and panic on the entire market although we cant be sure but the probabilities are  there and we know on how peoples mind do really play on these particular times.
For now lets just not stress ourselves on finding satoshi because it cant really be known whether his still existing or already dead.

I think at this point it's no more important to find Satoshi and definitely he too isn't going to reveal his identity even if he is alive by any chance. I too think him revealing his identity will be a big blow in the market it will shift lots of things and parameters and no one knows whether things will go bullish or bearish. But yes it would have been great if the inventor of this great invention could be honoured suitably on global level.

[_BlackStar]

What they are interested in right now is profit, how can they make money and become rich thanks to bitcoin. I guess a lot of new entrants in the market these days not only don't care who Satoshi is but never read its white paper, they only care about the price. What price to buy and when to sell to make a profit.

This is a reality in life because people easily ignore and forget the creator but they only care about the benefits. In other cases, millions of people may not know who created the dollar but they continue to use it as a means of payment or trade it. Such is the condition of bitcoin and its creators, they take advantage of it but don't really care about the creators.

But do you think that's a problem? Shouldn't be in my opinion. As long as bitcoin is used as a means of payment, traded, discussed, mined or otherwise, then this is actually a form of public concern for satoshi. Reading white papers is a way to understand more about bitcoin, it's not mandatory as long as you understand what it's used for.

[Wiwo]

Currently, the majority of new users who come to bitcoin are not interested in such a relevant characteristic of bitcoin, sometimes they do not even care about learning who Satoshi Nakamoto is or what he represents in his eventual anonymity for bitcoin.

On the other hand, criticizing other crypto projects for their eventual customization would have nothing to do with the success or failure of those projects.

What they are interested in right now is profit, how can they make money and become rich thanks to bitcoin. I guess a lot of new entrants in the market these days not only don't care who Satoshi is but never read its white paper, they only care about the price. What price to buy and when to sell to make a profit.

~

As franky1 stated, they will do nothing to Satoshi, since the founder of LTC, ETH is still free.

There's still no guarantee they won't do anything to him, so he'd better remain anonymous forever.

Satoshi's current identity state is a plus to the entire Bitcoin community, but learning about satoshi is an essential part for any newcomers list reading the Bitcoin whitepaper is a good way to start but most of newcomers are only interested in the price volatility of Bitcoin and how to make some quick income, for Bitcoin to remain a highly decentralized and privacy-oriented Satoshi needs to remain anonymous so that there will not be interference with Bitcoin operation from the creator.

[Captain Corporate]

I believe that if we could have put a face on it or if he was around are different things. If he was still around but we still didn't have any idea at all who he was, that would be not too bad, I mean he would chat around here, he has an account here, he also chatted in other places as well, so it wasn't really a shocking deal to be fair. But at the end of the day he would be still not known at all. But him not being around at all doesn't really hurt bitcoin neither, it was a great thing as well. So what is the "main" great thing is the fact that we do not know who he is, not the fact that he didn't ended up leaving before bitcoin took off.

[Cling18]

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.

Satoshi Nakamoto Bitcoin holding is actually more than 1 million as you mentioned, and no bits have been used since the bitcoin was locked in Satoshi's wallets. But no one knows if Satoshi still has access to the wallet holding the coins.

I think this is pretty stupid to think that because he hasn't moved a single bitcoin from his address he might have lost the private key. There are huge chances he has some other wallet as well which we people aren't aware of and is enough for him to do his daily transactions and he is just keeping his bitcoin locked for the right time moreover he knows even a slightest of movement from his vault will attract huge attention from throughout the world so he might also not be doing this because of this.

Years have passed and no transaction is made from that specific wallet. This increases the trust over the network, because a transaction made from the particular wallet will surely make disturbance in the market. In specific the network might loss it's feature of functioning without lying on someone's decision.

Lots of investors are watching keenly in every Shatoshi's possible move and the fact that no transactions are being done to his wallets, more people are trusting the reputation of the Butcoin creator. His private identity won't make people question things about him and just focus on the importance of Bitcoin in our current society. I believe that it's one reason why Satoshi kept his real identity.

[Bitstar_coin]

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?

Good Question, assuming hypothetically speaking Satoshi's identity became known to the public, will that now mean that all the things BTC stands for that made it stand out from the rest of the other coins suddenly be reversed? No right! so the statement that "If Satoshi identity is revealed btc will lose its value" is incorrect, btc will remain decentralize and maintain its value regardless. BTC is already designed this way, knowing the face behind it won't make any difference.

[pooya87]

the statement that "If Satoshi identity is revealed btc will lose its value" is incorrect, btc will remain decentralize and maintain its value regardless.

The problem is that some people associate short term market manipulation with what bitcoin stands for and its value. There is a really high chance that if some day Satoshi's identity became known, bitcoin price would dump. But that doesn't mean anything would change about bitcoin and its value.
These are the same people who repeat "bitcoin is dead" each time there is a drop.

[Abiky]

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.

Couldn't agree more with you, mate. Bitcoin's unknown creator is what has let it towards widespread success. For true decentralization, there must be no person behind the project which you can easily identify. Cryptocurrencies like Ethereum, Cardano, and even Polkadot could face the risk of centralization as their creators/founders are publicly known. This creates a conflict of interest as we speak. Governments can easily prosecute these people for making private currencies outside of their control. With Bitcoin, there's no one you can target to get what you want. If only most cryptocurrency projects had an anonymous founder/creator and developer team, things would've been different by now.

Unfortunately, money talks, so the only way to bring "trust" among VCs is by disclosing the identities of team members. It's a pity because this puts crypto in the hands of Wall Street. At least, the original cryptocurrency (Bitcoin) won't be going anywhere soon. Just my thoughts

[Ojima-ojo]

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

What a pathetic situations, throwing off safety cautions for temporary pleasure. It sounds wired to imagine what the results and impact will be on the victim. Centralization in cryptocurrency is part of the scam channels.

[Z-tight]

There is a really high chance that if some day Satoshi's identity became known, bitcoin price would dump.

Hi pooya87, i would like to know why you think there is a high chance that bitcoin price will dump if Satoshi's identity is revealed some day, i was thinking in the opposite way, i feel if his identity is revealed it will be everywhere in the news and that is more attention, which may lead to greater demand for the use of bitcoin. Secondly, you know many people see bitcoin as a mystery, because of how mysteriously its creator is unknown and unseen, so they don't want to use it, they think it is a scam and can't be trusted (i know they are wrong, because bitcoin is open-source, and the creator is not needed technically to prove it is legit, anybody can verify that), but for people who are not very knowledgeable, Satoshi's presence can give them more trust in the network right? Resulting in more demand, and a pump in price.

[Davidvictorson]

This Satoshi's faceless identity and the possible reason(s) behind it reminds me of the Greek mythology where, Prometheus stole fire back from the gods(Zeus) in a fennel stalk and restored it to humanity, the masses. As a punishment, he was nailed from a mountain and an eagle would eat his immortal liver. This may be correlated with Satoshi Nakamoto has stealing the power (of banking) from the gods (powerful bankers, government, and politicians) and giving it to the common people. After which he(they) end up disappearing out of public light because they don't want to end up being punished for it .

[TheNineClub]

I don't think it was deliberate, it was just a response to the times BTC was born into. Anyone that had any new idea that went against the grain was hunted down be it literaly by the police (think Silk Road Ulbricht a few years after) or by attourneys (P2P platforms some years before), and there was no benefit for reveling your identity. On the downside, it kinda created some sort of a cultish figure in the comunity, and that's never a good thing.