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Author Topic: Satoshi's Intention/Vision For Bitcoin  (Read 244 times)
Z-tight
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September 23, 2023, 06:23:04 PM
 #21

I believe Satoshi Nakamoto is pleased with how Bitcoin has turned out so far since
Pleased or not, it is your keys, your coins, my keys, my coins; and we can use it however we want, that is what Satoshi should be most pleased about, creating money that is free, permissionless and censorship resistant, and we can use it for whatever we like without asking permission from any institution. Satoshi's vision doesn't even matter anymore, let's say his vision of BTC has changed, he wouldn't even be able to enforce that change on the network, that is the beauty of BTC, no central control and no single point of failure.

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September 26, 2023, 11:25:39 AM
 #22

Pleased or not, it is your keys, your coins, my keys, my coins
"Not your keys, not your coins (bitcoins)" is very famous but it was not talked by Satoshi Nakamoto but by Andreas Antonopoulos. He talked about it in Israel, in this conference.

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and we can use it however we want, that is what Satoshi should be most pleased about
Satoshi has one great vision, don't delete your wallets.
Sigh... why delete a wallet instead of moving it aside and keeping the old copy just in case?  You should never delete a wallet.

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creating money that is free
Bitcoin can not be freely created. If it can be created freely like mintable tokens, it does not have price in thousands of dollar like today. You only can get new bitcoin for circulating supply by mining new blocks with ASICs. If you are not a miner, you have to buy bitcoin with your money or work to get altcoins and sell altcoins to have bitcoin.
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September 26, 2023, 11:50:21 AM
 #23

I believe Satoshi Nakamoto is pleased with how Bitcoin has turned out so far since
Pleased or not, it is your keys, your coins, my keys, my coins; and we can use it however we want, that is what Satoshi should be most pleased about, creating money that is free, permissionless and censorship resistant, and we can use it for whatever we like without asking permission from any institution. Satoshi's vision doesn't even matter anymore, let's say his vision of BTC has changed, he wouldn't even be able to enforce that change on the network, that is the beauty of BTC, no central control and no single point of failure.

You're so right, Satoshi's vision doesn't matter anymore because even if he goes back, he can't fix it in the direction he wants. It is important that everyone who is using bitcoin is satisfied even if the intended use is not the same.

Recently, there have been many threads discussing Satoshi's vision and mood for the development of bitcoin today. But I really don't care and don't want to make assumptions about what he's thinking. Simply because it no longer matters, and nothing can be changed anymore. It can be a fun discussion, but don't get into a heated argument just because of it.

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September 28, 2023, 04:04:09 AM
 #24


So what do you guys think...?

I remember that Satoshi did not mention bitcoin as a future asset in bitcoin's whitepaper, what he mentioned was that it is a currency, a peer-to-peer payment method.

But I'm completely convinced with what the OP has to offer, and there's one more thing I'm wondering about, I hope someone can explain it to me. If bitcoin prices were not volatile, did not increase, and only used one currency, would it still exist today? I mean, can miners sustain bitcoin mining if they don't get any profit or benefit from it? Furthermore, mining will become more and more difficult after each halving cycle, not to mention the cost of bitcoin mining will also increase every year due to rising energy costs. Would anyone continue to mine if bitcoin was just a currency?
Satoshi created an algorithm that gradually increased the difficulty of mining bitcoin over time, proving that he intended it to be an asset from the beginning. An asset that is more scarce than gold and will surpass it in value.

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September 28, 2023, 04:56:48 AM
 #25

Thank you OP for collecting it and sharing it here. Although this is just to answer some of the questions people are curious about Satoshi's vision/intentions. And yeah I think this answer is quite good. And can explain a big picture of Satoshi's true vision in creating Bitcoin. Although we also know that sometimes something that is created for a certain purpose by the creator can become something that is used in a different way by the user in the end. But so far it seems like Satoshi's vision has been partially successful. Like Bitcoin which is a commodity asset. And in my country, Bitcoin has even been approved or legalized as a commodity asset that can be bought and sold by its citizens.
And several countries affected by high inflation have also used Bitcoin as a store of value. This means that again this is in accordance with the vision of the intention of creating Bitcoin itself. And when one day the adoption of bitcoin will spread to the majority of humanity. So at that time the price probably won't fluctuate too much.

And actually the current Bitcoin market size is still quite small (around $500 billion) when compared to the market size of physical gold which reaches around $13 trillion dollars. And if Bitcoin had the same market size as Gold, the price of Bitcoin could reach $700,000. So there's still a long way to go. (Source) But if adoption continues to increase, I am optimistic that in the future Bitcoin will at least reach half the market size that physical gold currently has. Because generation Z can be expected to be closer to digitizing everything related to storing value. And Satoshi's vision is increasingly being realized.

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