What Do you think Satoshi Would Think About Today's Bitcoin?

[Vladv26]

Let's be honest, even Satoshi would have not been able to change the course of history and the course of cryptocurrency. Bitcoin has come a long way and let's not forget that for most people on the planet it's still something relatively new so there's always room more growth and change. Maybe Bitcoin didn't turn out exactly as it was initially anticipated by Satoshi, but it has survived and thrived in the market for 14 years which is no little accomplishment.

[posi]

If he was alive and saw what we are doing with bitcoin, I don't think he will be as disappointed as the OP or many people think. It is true that bitcoin is not being used as a currency and is being used by us more as an investment. But that doesn't mean it can't be used as payment, there are still a lot of people using bitcoin for payment. It shows that bitcoin has become more multifunctional than Satoshi expected, today bitcoin can be used as an asset, currency, payment method, your own bank...I don't think he will be disappointed with this result. What is more important is that people have supported his idea, and more and more people are using bitcoin, how can it be said that he will be disappointed?

[xSkylarx]

Satoshi made this as a currency which is still something that we used but most of us used it as an investment because of its price. His vision is still true as it is widely used and for sure happy with the outcome of it but Bitcoin is just too young still not mined all the Bitcoin and just getting adopted by countries so there is still a lot of room for adoption and maybe the future of the cashless world.

No matter what people use it for or the purpose of it the mission of it really is to help people and ease the burden so it is doing its purpose so both of us and Satoshi are happy because of Bitcoin.

[tetaeridanus]

If he was alive and saw what we are doing with bitcoin, I don't think he will be as disappointed as the OP or many people think. It is true that bitcoin is not being used as a currency and is being used by us more as an investment. But that doesn't mean it can't be used as payment, there are still a lot of people using bitcoin for payment. It shows that bitcoin has become more multifunctional than Satoshi expected, today bitcoin can be used as an asset, currency, payment method, your own bank...I don't think he will be disappointed with this result. What is more important is that people have supported his idea, and more and more people are using bitcoin, how can it be said that he will be disappointed?

Hey!

I didn't say he would be dissapointed, I think he would be proud of his creation having a life of its own and went on its own way. I just believe bitcoin deviated from his vision into a different entity in ways.

Respect.

Tetaeridanus✨

[Plaguedeath]

He will feel sad and happy at the same time.

I think if he's really want to see people is use high security cryptocurrency as a currency, he should create decentralized stable coin (although we're already have DAI now). But whatever it's, there's no cryptocurrency will overtake Bitcoin, at least for next two decades.

[hyudien]

- To conclude, I believe Bitcoin is in the wrong place today from Satoshi's vision. I'm a satoshi visionaire btw, you could think otherwise and I will respect you. This is just my thoughts.

What are your thoughts?

I agree with your opinion, regardless of the current vision of Bitcoin, Satoshi initially aimed to make it a digital currency, but I also cannot deny that now the vision has shifted to a valuable means of storing value. It's just that when Satoshi created Bitcoin, perhaps the conditions and situations were focused on its incompatibility with the damaged fiat system. Even though Bitcoin vision is now to become a means of storing value, we still do not reduce the initial vision and still provide open space for anyone or any country that ultimately implements the vision in accordance with what Satoshi hoped for from the start. Because in the end, whether as a means of storing value or digital currency, both still complement each other and are in the same circle, namely freedom.

[Fivestar4everMVP]

Well, thanks for sharing your thought @op, but for me, I believe bitcoin is just where satoshi dreamt it will be, forget the whole centralized entities controlling bitcoin and having the power to manipulate the price so they can make money off it, forget it all, you will have to agree with me that, nothing in this world will succeed without centralized help, like it or not, it's a fact.

If bitcoin was left to be a p2p money like you think that is exactly what satoshi created bitcoin to be, do you really think that bitcoin will be where it is today...

I am going to make a thread on this soon..

[albert0bsd]

He will very disappointment of the ordinal spam.

[Flexystar]

Yeah really sound like Satoshi in today’s date. Imagine his working around the clock to build the blockchain and release genesis thinking that go dear bitcoin you will be the master of decentralised payment network. Yet here we are already building huge financial institutions to reap the profits from people’s wallet.

Everything went wrong when someone might have thought about bitcoin as trading instrument started listing it. Everything got even worst when Altcoins formed. That’s really the world Satoshi never ever imagined.

So I believe, we are in wrong direction for sure.

[Ale88]

I am not entirely sure what he would think about bitcoin itself, but I am sure that he would be very much against %99.99 of the new coins that were created in the last 6-7 years. Ever since that ICO period started where the idea of "pay me some money to create a new coin", we have been going downhill in quality and not many great projects has existed. The main reason why we keep seeing most projects end up being in top 10 and in few years they are all out is the fact that they are all terrible "fund me" projects. He wanted decentralization, hence why he left bitcoin himself, not a system where people would pay each other to make new tokens on others chains.

I don't want to justify all the ICOs and the scams that followed that trend but unfortunately this is how it works pretty much in every field: when someone comes up with an idea there always will be other people who will try to make something similar just to make some quick money, if there is an opportunity to make money people will jump on it. History will always repeat itself.

[m2017]

Serious question, where I get different reply from everyone.

I adore serious questions to which I immediately give equally serious answers.

Personally, I think his vision of Bitcoin is not what Bitcoin has come today.

I think only he himself can tell about his vision. Over time, this vision of his could seriously change. Maybe it would be better to ask him himself?

- It has became a centralized market, which is controlled by entities. A single cex or dex can manipulate the price in its favor, meaning dumping the price to aquire more btc in lower prices. (liq hunting) So it has become B2P instead of Satoshi's P2P vision.

What is the connection between "cex or dex can manipulate the price" and "Satoshi's P2P vision"? How does "cex or dex" prevent you from taking p2p? What prevents you from buying and selling anything for bitcoin, and not at the rate of dollar? And then, you immediately start not caring about price pumps and dumps. 1 BTC = ~26.500$ 1 BTC and then everything falls into place.

- Many of it's adapters today don't even use it as a currency or store of value, they use it as a speculative derivative. You can look at this by looking at spot and futures volumes. Adapters pre-2020 know more about Bitcoin's motive, fundementals and mission where after 2020 the market is filled with idiot perma-bulls.

Before criticize others, look at yourself. How do you use bitcoin? Start changing the world with yourself first, not with others.

- Bitcoin and Bitcoin's price are two different things. According to Satoshi's Vision BTC is meant to be a digital peer to peer currency; not a store of value which contradicts today's investors. BTC's scalebility issues caused people to shift the narrative to a store of value. However, hence BTC is created as limited money, I believe satoshi also believed one day the narrative would be shifted to a store of value case.

But did satoshi just forget to tell us about this? But I think that he himself didn’t really know what bitcoin would eventually become, how it would change and how exactly people would use it.

- To conclude, I believe Bitcoin is in the wrong place today from Satoshi's vision. I'm a satoshi visionaire btw, you could think otherwise and I will respect you. This is just my thoughts.

What are your thoughts?

There was already one, with his true Satoshi Vision Bitcoin. Remember this one? Maybe this is enough already?

[tetaeridanus]

Well formation of altcoins with ICO's pretty much changed the game and turned BTC in to a store of value in my thoughts tbh. There are faster networks such as XRP and XLM, there are more private bridges such as Dash and XMR; and there is a network (ERC) where people can implement their own tokens and release them. So the game has shifted a long way such as previous poster said; Bitcoin has taken life of it's own and created an ecosystem; this in my thoughts what deviated the way of BTC as a peer-to-peer digital currency to a store of value. I am not even talking about forks that BTC had (BCH LTC) etc...

Thanks for everyone's replies. This has been a seriously informative thread, nice to see many people's opinions; I wish many more disccusion with you guys!


Tetaeridanus✨

[Kasabus]

We can say that this is not what Satoshi has imagined but I also don’t think he’ll be sad nor regret his invention. Bitcoin is still paving its way to its global adoption, maybe not as a peer to peer currency at the moment but I guess in the long run, people will certainly consider and eventually use it as a good digital currency. For now, let’s just be contented seeing bitcoin as a store of value, soon it will be a peer to peer currency just like Satoshi has envisioned.

[TheGhostMan]

At first glance, it is impossible to say with certainty what Satoshi would think of the current development of the cryptocurrency.  Furthermore, Satoshi passed away in 2010 and has not revealed his identity or his personal opinion on the future of Bitcoin.  However, in my opinion, Satoshi was probably pleased to see that Bitcoin had achieved a certain level of global acceptance and withstood various challenges over the years.  Not everything is rosy, but honestly it's something I would be absolutely happy about.  And it's worth noting that Satoshi may also have had concerns about excessive speculation, price volatility, and centralization in the cryptocurrency space.

[tetaeridanus]

Serious question, where I get different reply from everyone.

I adore serious questions to which I immediately give equally serious answers.

Personally, I think his vision of Bitcoin is not what Bitcoin has come today.

I think only he himself can tell about his vision. Over time, this vision of his could seriously change. Maybe it would be better to ask him himself?

- It has became a centralized market, which is controlled by entities. A single cex or dex can manipulate the price in its favor, meaning dumping the price to aquire more btc in lower prices. (liq hunting) So it has become B2P instead of Satoshi's P2P vision.

What is the connection between "cex or dex can manipulate the price" and "Satoshi's P2P vision"? How does "cex or dex" prevent you from taking p2p? What prevents you from buying and selling anything for bitcoin, and not at the rate of dollar? And then, you immediately start not caring about price pumps and dumps. 1 BTC = ~26.500$ 1 BTC and then everything falls into place.

- Many of it's adapters today don't even use it as a currency or store of value, they use it as a speculative derivative. You can look at this by looking at spot and futures volumes. Adapters pre-2020 know more about Bitcoin's motive, fundementals and mission where after 2020 the market is filled with idiot perma-bulls.

Before criticize others, look at yourself. How do you use bitcoin? Start changing the world with yourself first, not with others.

- Bitcoin and Bitcoin's price are two different things. According to Satoshi's Vision BTC is meant to be a digital peer to peer currency; not a store of value which contradicts today's investors. BTC's scalebility issues caused people to shift the narrative to a store of value. However, hence BTC is created as limited money, I believe satoshi also believed one day the narrative would be shifted to a store of value case.

But did satoshi just forget to tell us about this? But I think that he himself didn’t really know what bitcoin would eventually become, how it would change and how exactly people would use it.

- To conclude, I believe Bitcoin is in the wrong place today from Satoshi's vision. I'm a satoshi visionaire btw, you could think otherwise and I will respect you. This is just my thoughts.

What are your thoughts?

There was already one, with his true Satoshi Vision Bitcoin. Remember this one? Maybe this is enough already?

Hello thanks for your answer, I will reply to you because you directly asked me questions. I am new to the forum and quoting so I will answer below.

- It seems like I can't or no one can interview him . I am talking about the foundation narrative, satoshi's cryptopunk era vision and whitepaper language. Which basically supports my vision of satoshi's, which he created bitcoin for peer-to-peer use and he uses the word centralised authorities many many times in negative format. I believe exchanges are not only centralised authorities but they have an IMPACT on the Bitcoin markets which can affect buyers and sellers. ( 1 btc = 1 btc yes I also believe that hence central authorities have an impact on people's actions).
- I am not critisizing people, the people I critisized are the people who don't know the fundementals of bitcoin or even what blockchain means but got in after the 2020 where the markets was in a bullrun; and giving trading advices like btc next year 200.000 or 300.000. Don't look at my register date I am in crypto since 8 years. I used BTC as a currency to gamble in 2015-16s. Did I store any? No. Am I sad, you can imagine as yes. So you can understand my opinion this way. I always looked at it as a currency. Yeah I was wrong, and I accept it. However the thread is about your opinions, which I am interested of.
-Are you talking about the fork of BCH? If so I don't believe that guy is the satoshi even not one bit.

I thank you for your questions,

Tetaeridanus✨

[Kamasylvia]

Probably got his mind twisted , its difficult knowing how much bitcoin evolution going for now from simple cryptocurrency to digital asset  nfts and such , ita probably will still going forward from now on

[SmartGold01]

Have you also thought if bitcoin was only limited to its p2p do you think bitcoin would have been this popular without the helps of the centralized exchange and investors who turned it as a store of value? Yes lemme just say from my own point of view, we can say that the reason for bitcoin to get this exposure was a results of centralized exchange and, when bitcoin remains decentralized as its no doubt that there could be growth but would be limited to some certain point which people might not find it that interesting to ventured into because no price changes and no increments, they way its used now is the way its better understood by its users and this is stirring up a massive adoption.

[tetaeridanus]

Have you also thought if bitcoin was only limited to its p2p do you think bitcoin would have been this popular without the helps of the centralized exchange and investors who turned it as a store of value? Yes lemme just say from my own point of view, we can say that the reason for bitcoin to get this exposure was a results of centralized exchange and, when bitcoin remains decentralized as its no doubt that there could be growth but would be limited to some certain point which people might not find it that interesting to ventured into because no price changes and no increments, they way its used now is the way its better understood by its users and this is stirring up a massive adoption.

Yes a good point of view indeed sir,

I would like to emphasize, does btc needs to increase in price? For adoption or gaining more traders?

In my opinion more people are trading then using bitcoin, which contradicts that it got adoption as a payment system.

Anyways, just my 2 cents.

Tetaeridanus✨

[SmartGold01]

Have you also thought if bitcoin was only limited to its p2p do you think bitcoin would have been this popular without the helps of the centralized exchange and investors who turned it as a store of value? Yes lemme just say from my own point of view, we can say that the reason for bitcoin to get this exposure was a results of centralized exchange and, when bitcoin remains decentralized as its no doubt that there could be growth but would be limited to some certain point which people might not find it that interesting to ventured into because no price changes and no increments, they way its used now is the way its better understood by its users and this is stirring up a massive adoption.

Yes a good point of view indeed sir,

I would like to emphasize, does btc needs to increase in price? For adoption or gaining more traders?

Your question somehow looks like saying ( water is only meant for drinking) hence why do people uses water to bath and do other things, this is what i just found out from your questions.

Of course those things you mentioned are things that gives lift to bitcoin to gain this massive attention.
 

In my opinion more people are trading then using bitcoin, which contradicts that it got adoption as a payment system.

Well i can't sense any contradiction here it all depends on your understanding and between no body stops you from not using it as it was created to be p2p. People finds more valuable purpose from it's original purpose which they noticed trading also gives additional profits to it. At this point would you say you won't trade since it was only meant for p2p?
No, because if you are that good in trading I believe you would also ventured into trading or possibly you can decides to buy and hold to utilized the efficacy of bitcoin.

[tjtonmoy]

What are your thoughts?

I think I wouldn't be upset if I were Satoshi and saw Bitcoin becoming what it is today. Yes, the goal was a different one but it has evolved into something else. Now it has multiple use cases and more freedom. It still holds the purpose of being decentralized. It is still the ultimate P2P solution no doubt. And that's the beauty of Bitcoin. It can be whatever you want. For example, P2P transactions digital currency, borderless transactions throughout the world, a way to make money, an asset, a payment method, someone's property, or someone's retirement plan.

It is evolving to become more and more every day. It was Satoshi's vision and now it has become ours. We can make it grow. So I don't think Satoshi would be upset. At least that's my thinking from my point of view.