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Author Topic: What if Satoshi is eventually ID by the government  (Read 364 times)
Wapfika
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April 26, 2023, 02:07:50 AM
 #41

I would be curious to know what would he be charged with?

Clearly, Tax Evasion will charge against him especially if he is residing on US. After Bitcoin regulated on certain country, Residents should pay their tax annually. Satoshi Bitcoin is sitting on his wallet for a long time and surely every government watch his wallet carefully. His/her Bitcoin might be seized in case his ID verified.  It’s absurd that he is not watching Bitcoin and knows how much money sitting on his wallet right now.

But this event is not enough to take down Bitcoin because it’s decentralized and controlled by the Bitcoin community. His holdings is surely huge but Bitcoin is PoW and not PoS which means his holdings doesn’t matter at all on blockchain functionality. Probably it will only reflect on the price.

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April 26, 2023, 05:33:38 AM
Merited by Obari (3), Fiatless (3), Zilon (2), Sandra_hakeem (2), 348Judah (2), DdmrDdmr (1)
 #42

A friend of mine was of the opinion that the government cannot put an end to Bitcoin because it unfortunately cannot be traced to a particular person or organization which could be sued for bringing about the currency or Blockchain.
If this is true does it mean that the identification of Satoshi as a person or organization will pose a treat to the existence of Bitcoin or otherwise

It would had pose a threat if satoshi was involved as the face of Bitcoin from the very beginning but since he didn't have anything to do with the adoption of Bitcoin like working as the CEO of the company as we have with most altcoins, then he won't pose as a threat.

The market might just react negatively if his identify get exposed but soon the market will realized his presence has no effect to the growth of the project then the market will recover. Bitcoin has grown beyond one person having control over it, it's a community project.

The death of satoshi, doesn't end the use of Bitcoin unlike with other altcoins that immediately something was to happen to the founder or CEO of the company, price would start dumping since the future of the project is now an uncertainty but with Bitcoin it isn't so.

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April 26, 2023, 05:39:38 AM
 #43

For a while the identity of the creator of Bitcoin remains a mystery, the cryptocurrency has developed into a decentralized network that is beyond the control of any entity or individual. However, if the government takes legal action against Satoshi, it could potentially impact the perception and adoption of Bitcoin by the public and regulatory bodies. On the other hand, in my opinion, it has no impact and poses a direct threat to the existence of Bitcoin.

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April 27, 2023, 01:12:56 AM
 #44

Funny, nothing will happen to Bitcoin, I believe. How long has Bitcoin operated without Satoshis, do you remember? In fact, Bitcoin is still good.
So even if Satoshi is caught, threatened, or killed, Bitcoin will still run.
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April 27, 2023, 04:15:14 AM
 #45

Funny, nothing will happen to Bitcoin, I believe. How long has Bitcoin operated without Satoshis, do you remember? In fact, Bitcoin is still good.
So even if Satoshi is caught, threatened, or killed, Bitcoin will still run.

Agreed.

I think it might cause some kind of temporal disturbance, but quickly it will be forgotten.

And the thing is that Bitcoin doesn't need a leader. It hasn't needed one in more than a decade, so I'm sure it will be fine.

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April 27, 2023, 06:01:33 AM
 #46

Your friend also need to know that bitcoin transactions cannot be traced when we use mixing services otherwise you can have the record of each transaction on the blockchain and it's not completely anonymous.Secondly about revealing the identity of Satoshi then it's not possible because so many years have passed and we all have developed so many theories about it along with many faketoshis coming up but nothing has happened with bitcoin so why are you concerned now? The situation is same and governments won't be able to stop it rather regulate it to take more benefits out from btc.

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April 27, 2023, 06:29:04 AM
 #47

Surely this will have threat upon the person or the organisation. The goodness revolves around the world just because the identity isn't known. If the identity is known governments might've taken control over the network through some means. If the network innovator is identified, once after him the power could automatically go into the hands of his heir. So, the control continues and the decentralised functioning completely gets disturbed. Maybe if the person or the organization have got revealed, maybe the bitcoin might've not succeeded. Rather than thinking about the person or organisation impact it is good to spread the good about bitcoin.

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April 27, 2023, 07:23:30 AM
 #48

The mastermind behind Bitcoin knew that Bitcoin will fight against the rules of the government, decentralization must be carried out in a way where you think about all the possibilities that the government can use to get to you.

This was planned out before Bitcoin was launched, he is a wise man who saw it all coming, he was well prepared, that's why he is the Ghost, I doubt that his real name is even Satoshi Nakamoto, that's Japanese name right? Don't worry about his identity, it's going to the grave with Nakamoto.

For the fact that we have seen few imposters in the past years, fake Satoshis claiming they are the real one, it means that anyone can pretend to be the rea Satoshi Nakamoto, this makes it more harder to tell what's real and what's not, I kinda like this because the confusion alone is enough to make the investigation worthless.





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April 27, 2023, 07:32:42 AM
 #49

A friend of mine was of the opinion that the government cannot put an end to Bitcoin because it unfortunately cannot be traced to a particular person or organization which could be sued for bringing about the currency or Blockchain.
If this is true does it mean that the identification of Satoshi as a person or organization will pose a treat to the existence of Bitcoin or otherwise
Do you really believe that Government still looking for satoshi? and they have no complete Idea of whose behind Bitcoin?
and what if The government is behind this ? actually there are so many hearsay created over the years but still bitcoin is active and running old.
but even if the government ID Satoshi , I think this will continue but of course to favor them(the government)
but the thing is for years , the government is trying to shut this down but as we see, continuous to operate till now.

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April 27, 2023, 04:49:04 PM
 #50

Satoshi of course have an legal ID from the government but people don't really know the person is.

and even tho government really know about satoshi it wont change the bitcoin since now is decentralized and the bitcoin code maintain by the community. if gov really found him it just crazy after all

Regarding the identification of Satoshi Nakamoto, the creator of Bitcoin,

 there has been speculation and attempts to uncover their true identity over the years, but so far it remains unknown.

It's unclear how the identification of Satoshi would affect the existence of Bitcoin itself. Even though Satoshi was influential in the creation of Bitcoin, the cryptocurrency(Bitcoin) is now maintained and developed by a decentralized community of developers and users, so, the impact is somewhat unknown.....

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April 27, 2023, 05:05:32 PM
 #51

If this is true does it mean that the identification of Satoshi as a person or organization will pose a treat to the existence of Bitcoin or otherwise
Bitcoin will still continue to exist, but it will not make any sense if Satoshi is known because its unknown is what bitcoin community like and proud about, that Satoshi does not interfere with anything and that as it is not known, it makes bitcoin to be decentralized and looks natural from the beginning when it was created.
Nothing can stop bitcoin from existing,  you are right. It won't make any sense if the identity of Satoshi should be known,  Satoshi is aware of this right from when bitcoin was formed. Satoshi identify not known is one of the success of bitcoin becoming well decentralized , people should always take this imagination from their mind because Satoshi will never identify himself to the public as the founder of bitcoin.  Let's put our focus on bitcoin and forget about the identify of Satoshi, bitcoin is enough to think about.

R


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hZti
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April 27, 2023, 05:12:36 PM
 #52

I think that Satoshi is known to at least one government in the world. Question is if this government does even care about him, since bitcoin can not easily be stopped at this point. Maybe it will be revealed in the future or maybe he now even works for them or is dead.

If Satoshi is tracked down and his whereabouts are known, I'm sure Satoshi will be protected by his country because Satoshi is a very genius person and very rarely is there a genius like Satoshi Nakomoto.

Why should the country where Satoshi is located protect him at all? They can force him to do what ever they want easily, since you can easily fabricate a lawsuits against him.
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