What's the Future of Bitcoin without the Inventor?

[Iamgoat]

I have been having some critical thinking lately on what the future of Bitcoin and the Blockchain technology will be. What will be the fate of Bitcoin should in case the founders of this great digital currency and assets die. It is not a wish but it is a known fact that all humans will taste the sad and irreplaceable part of this life – death.

Despite that the Bitcoin technology was designed in an open source software – a source code that everyone, including me and you, can inspect, modify and enhance. The effect of the founders could be felt if they are not available to in any way monitor the processes.

I don't have an in depth knowledge on how the open source software works, which has perhaps led me to more curiosity hence my question, yet I feel like Bitcoin still undergo some security guard and monitoring to safeguard it against the black-hats.

Can someone on this forum help me clarify (in simple terms) on some of the infrastructures or technologies put into the development of Bitcoin that can make it stand, forever?

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[Ndabagi01]

Can someone on this forum help me clarify (in simple terms) on some of the infrastructures or technologies put into the development of Bitcoin that can make it stand, forever?

It is basically decentralization and the open source network it works on. Bitcoin was built on open source, which allows the network to stay decentralised, making it difficult for a single body to control the network. There is no exception to this, even Bitcoin's inventor does not have the authority to regulate or change anything without the participation of other users on the network (the miners).

The open source model allows everyone to contribute to the network, which improves its adaptability and functionality.  On the network (blockchain), anyone may view, analyse, and audit. Bitcoin is based on the technologies of blockchain, which evolved from public blockchains.

The use of public blockchains helps to address some of the issues associated with security weaknesses, third parties, and centralization. With or without the inventor, it will continue to function the way it is now.

[albert0bsd]

I don't have an in depth knowledge on how the open source software works, which has perhaps led me to more curiosity hence my question, yet I feel like Bitcoin still undergo some security guard and monitoring to safeguard it against the black-hats.

Open source software is transparent, any one can check the changes in the code before to put in to production.

If those changes affect the correct behaivor of the current network, nobody is going to run it.

[Mahanton]

I have been having some critical thinking lately on what the future of Bitcoin and the Blockchain technology will be. What will be the fate of Bitcoin should in case the founders of this great digital currency and assets die. It is not a wish but it is a known fact that all humans will taste the sad and irreplaceable part of this life – death.

Despite that the Bitcoin technology was designed in an open source software – a source code that everyone, including me and you, can inspect, modify and enhance. The effect of the founders could be felt if they are not available to in any way monitor the processes.

I don't have an in depth knowledge on how the open source software works, which has perhaps led me to more curiosity hence my question, yet I feel like Bitcoin still undergo some security guard and monitoring to safeguard it against the black-hats.

Can someone on this forum help me clarify (in simple terms) on some of the infrastructures or technologies put into the development of Bitcoin that can make it stand, forever?

You should know that Satoshi havent been found or been known by this community or the entire space which lots had assumed that he might be dead or just simply lurking in the shadows and just watching his creation flourished and succeed out basing up on what he had written on that WP. Yes, its open source and we know that updates and changes could really be done but it is really that necessary? The only problem
i do see with Bitcoin is on scability issue and the rest is really just working perfectly fine and doesnt really need any changes or updates in regards. Yes, its true that having that founder or creator to be known alive
does really give out that confidence into its investors but we have seen the different thing on here in Bitcoin on which even on Satoshis absence then it is really that still able to sit on the top of the rankings on which it is really that something shows that on how good this project is.

Everything will really matter when it comes to demand and recognition because even if Satoshi is dead(hopefully not) it could really still be able to sit on #1 in the entire market
considering that this is the origin of crypto then it is something a title or reputation that no coins or projects that would be able to replace into its place.
This is why its really not that shocking for this thing to happen even up to now.

[jossiel]

In simple terms;

Bitcoin has been there after being made by Satoshi Nakamoto for a long time without him. Since when did he left? More than a decade ago and his profile says since December 13, 2010.

That's already a long time but look at what's happening to Bitcoin, countries are adopting it and more will possibly make it as a legal tender.

One point is that, Bitcoin is here to stay. Not saying forever but yeah, here to stay.

[serjent05]

I have been having some critical thinking lately on what the future of Bitcoin and the Blockchain technology will be. What will be the fate of Bitcoin should in case the founders of this great digital currency and assets die. It is not a wish but it is a known fact that all humans will taste the sad and irreplaceable part of this life – death.

There will always be someone to replace them and dedicate their time to develop and improve Bitcoin technology.  Just like when Satoshi gone missing, development of Bitcoin did not step, instead there are lots of independent contributors appears in the list.

Despite that the Bitcoin technology was designed in an open source software – a source code that everyone, including me and you, can inspect, modify and enhance. The effect of the founders could be felt if they are not available to in any way monitor the processes.

This is the reason why it does not hurt much if the initial founders succumb to old age, new developers have the information of the development of Bitcoin so they can continue from there.

Can someone on this forum help me clarify (in simple terms) on some of the infrastructures or technologies put into the development of Bitcoin that can make it stand, forever?

The decentralized and open-source code of Bitcoin will make it stand forever.  Anyone can pick up the development where it has halted.

[SamReomo]

I have been having some critical thinking lately on what the future of Bitcoin and the Blockchain technology will be. What will be the fate of Bitcoin should in case the founders of this great digital currency and assets die. It is not a wish but it is a known fact that all humans will taste the sad and irreplaceable part of this life – death.

As far as I know that the only founder of this technology is a person or a group of people named Satoshi Nakamoto and he has left this forum since December 13, 2010 and has never visited the forum via his/her/their original id. Another thing that I know is that after December 13, 2010 no one has heard of Satoshi Nakamoto and even till this day no one really know who he/she/they was or were. At that time when he/she/they disappeared the price of Bitcoin was less than $1 a Bitcoin and anyone could purchase more than 100 Bitcoin for a $100 USD. So that's why I can say that Satoshi's presence has no impact on Bitcoin's price.

I don't have an in depth knowledge on how the open source software works, which has perhaps led me to more curiosity hence my question, yet I feel like Bitcoin still undergo some security guard and monitoring to safeguard it against the black-hats.

You can learn about open-source software from YouTube and any other online platform. There are thousands of videos about open-source software available on YouTube for free. And when it comes to security then you don't really have to worry about the security of Bitcoin because as long as good miners are controlling 50% of the hash rate then none of the black-hat hackers will be able to do anything against Bitcoin.

You can learn further about 51% attack via this URL: 51% attack

[panganib999]

Pretty sure that with how things trended during the 2008 financial crisis in one way or another a derivative or a version of bitcoin will surface on the internet. It was a fucked up time that made us really think about why we're even saving money if it could just be devalued by mistakes that we didn't even commit. Satoshi Nakamoto is a real one for taking the initiative to launch bitcoin himself but as I said, someone with enough tech and coding prowess is pretty much expected to release a bitcoin if Satoshi wasn't able to in the past.

I get that it's a little optimistic, but a lot of reasons made me think that this is the only way things would really go no matter what happened. If the 2008 financial crisis wouldn't have happened, we wouldn't have bitcoin, but we did, so here we are.

[Silberman]

I have been having some critical thinking lately on what the future of Bitcoin and the Blockchain technology will be. What will be the fate of Bitcoin should in case the founders of this great digital currency and assets die. It is not a wish but it is a known fact that all humans will taste the sad and irreplaceable part of this life – death.

Despite that the Bitcoin technology was designed in an open source software – a source code that everyone, including me and you, can inspect, modify and enhance. The effect of the founders could be felt if they are not available to in any way monitor the processes.

I don't have an in depth knowledge on how the open source software works, which has perhaps led me to more curiosity hence my question, yet I feel like Bitcoin still undergo some security guard and monitoring to safeguard it against the black-hats.

Can someone on this forum help me clarify (in simple terms) on some of the infrastructures or technologies put into the development of Bitcoin that can make it stand, forever?

You are already living in the future in which Satoshi is no longer part of bitcoin as a developer or as an influential figure, and quite honestly I think bitcoin is doing very well without his input, which was part of his plan from the beginning, now regarding what can make bitcoin last forever I think you have a huge misconception, nothing stands forever, as eternal as fiat currencies may seem they have only be the dominant form of currency used all around the world since the seventies, and at some point the fiat system will have to evolve or crash, so despite how solid bitcoin can be, there is no way that it will last forever.

[hatshepsut93]

Despite that the Bitcoin technology was designed in an open source software – a source code that everyone, including me and you, can inspect, modify and enhance. The effect of the founders could be felt if they are not available to in any way monitor the processes.

Satoshi has only been active for the first few years, then he disappeared and Bitcoin since then is developed by the community. So we already have an answer to your question - Bitcoin keeps thriving and its for the better that there's no single point of failure and Bitcoin future does not depend on decision of one person, or the fact that something might happen to that person.

[noorman0]

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Can someone on this forum help me clarify (in simple terms) on some of the infrastructures or technologies put into the development of Bitcoin that can make it stand, forever?

Bitcoin was designed to be able to run without dependence on the founder, and this has been the case for 13 years. I think Satoshi has detailed design of this technology including how the maintenance and upgrade of the protocol cannot be tampered with by black hats without enormous (almost impossible) effort.

In essence, Satoshi contributes greatly to ideas, then it is the community's contribution that determines bitcoin sustainability.

[Smartvirus]

Despite that the Bitcoin technology was designed in an open source software – a source code that everyone, including me and you, can inspect, modify and enhance. The effect of the founders could be felt if they are not available to in any way monitor the processes.

I don't have an in depth knowledge on how the open source software works, which has perhaps led me to more curiosity hence my question, yet I feel like Bitcoin still undergo some security guard and monitoring to safeguard it against the black-hats.

I’m out here reading this and am wondering if the founder has been around actively working on Bitcoin to keep it functional as we have it.

Satoshi Nakamoto remains a Pseudonymous creature through which, his nature is yet to be understood either to be a single individual or a body and the founders absence has been attributed to be some of the reasons for the success of Bitcoin and as such, why do you really think otherwise?
Are there coins out there that are doing great because of the presence of its founders?

Bitcoin was created to take a life of its own and while it continues to gain wide spread and usage, it continues to be modified to suit the times.

[Dr.Bitcoin_Strange]

Re-phrasing the question, is there any agreement among Bitcoin investors that they will dump their Bitcoin and stop investing and holding? No, but instead, people are steadily investing in Bitcoin regularly. Everywhere around the world, someone is either buying Bitcoin for the first time or buying more to add to their already-exceeding balance. There is no accurate information to confirm if Satoshi is dead or still living, but Bitcoin is still doing well, and I don't believe that there can be any effect with or without Satoshi. If the Bitcoin network faces any serious issues, there are still some programmers who know the best way to follow up on the issue. The situation that I am even thinking will cause an unfavorable situation in the future for investors in Bitcoin is if the government begins to fight seriously against Bitcoin. For example, let's say that any day in the future, 1 bitcoin will become $900 million, and perhaps the government knows individuals who own 1000 bitcoins or more.

[komisariatku]

Can someone on this forum help me clarify (in simple terms) on some of the infrastructures or technologies put into the development of Bitcoin that can make it stand, forever?

Satoshi as the founder and creator of Bitcoin has long disappeared and his whereabouts are unknown to this day. We also don't know if satoshi is alive or dead, but what do you see about bitcoin? The bitcoin community continues to grow, bitcoin technology is getting more sophisticated (segwit, lightning), and the price is getting more expensive. So for bitcoin no inventor of bitcoin doesn't make it die, but I don't know if that will have any effect on the founders of altcoins

Bitcoin uses an open source system so that the community can maintain bitcoin and bitcoin is designed to run independently with a decentralized concept. So you don't need to worry, Bitcoin will be fine for a very long time

[mk4]

Satoshi hasn't (publicly) been contributing to the protocol for a decade now, so you might as well presume him dead. Besides, as bad at it sounds, we don't really need Satoshi anymore because Bitcoin is somewhat a finished product; and having Satoshi publicly contributing to Bitcoin would give us some centralization due to bias.

[LogitechMouse]

I have been having some critical thinking lately on what the future of Bitcoin and the Blockchain technology will be. What will be the fate of Bitcoin should in case the founders of this great digital currency and assets die. It is not a wish but it is a known fact that all humans will taste the sad and irreplaceable part of this life – death.
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Can someone on this forum help me clarify (in simple terms) on some of the infrastructures or technologies put into the development of Bitcoin that can make it stand, forever?

That's the power of decentralization. Anybody can do anything... or I should say developers are doing their job, and that's to maintain.
Any changes around Bitcoin isn't been approved that easily because I think there's at least 5 groups that needs to agree in order for that development to be implemented. What I remember is that, miners are one of them.

Bitcoin creator die? We don't even know who Satoshi is, and TBH, there's a chance that Satoshi is dead already. Like I said, nobody knows about Satoshi, so these are just assumptions. Like you, I don't also have any in-depth knowledge about the software itself, but at least I know the basics of it. The good thing is that, we have developers who maintain Bitcoin, so I guess we can safely say that Bitcoin's in good hands already... or not.

[Darker45]

It won't matter now.

1. The founder isn't even known, so whether Satoshi is still alive or not doesn't have any bearing as to how Bitcoin grows from here.

2. Even if the founder is known, he/she/they neither safeguard nor contribute to its development anymore. The founder has already "moved on to other things" and has left Bitcoin to everybody. Bitcoin is open-source and decentralized.

3. Times change. Circumstances have changed since Bitcoin was conceived. However it will evolve in the future, it will be the call of those who are there.

4. Many Bitcoin users actually don't care. Some of them aren't even familiar of the name Satoshi Nakamoto. Some of them haven't heard of the names Wei Dai or Hal Finney or Nick Szabo or Adam Back and all and the Cypherpunks. Regardless of the founder or whether he/she/they are still alive or not, they just buy Bitcoin for some reasons.

[Viscore]

You need not be concerned about the potential compromise of the Bitcoin network by hackers. If such an event were likely, it would likely have occurred long ago. Consider this: the identity of Bitcoin's creator, known as "Satoshi," remains undisclosed even today, yet people continue to invest in Bitcoin, leading to a billion-dollar market. Just envision the substantial losses that would result if it were compromised.

It's important to acknowledge that you don't need to be an expert to understand this concept. It's simpler to analyze with basic logic, ensuring greater confidence in your Bitcoin investments.

Our current concern revolves around the growth of adoption, given the potential for market manipulation and government intervention that threatens Bitcoin's original intended anonymity for users. These factors can affect its functionality to some extent, leaving us uncertain about its true nature.

[Razmirraz]

Satoshi is still anonymous, no one can guess for sure whether this name belongs to the person or group that designed Bitcoin. Nobody has been able to reveal his true identity, maybe he is still alive or dead. But what I know so far is that his creations are growing even though they are not managed directly by him.

One of its extraordinary strengths is that it designed Bitcoin technology in open source software and is transparent, the system adopted in the Bitcoin network will make it difficult for any party to control the network. Don't ever worry, friend, Bitcoin's fate will be the same as when Satoshi first launched it to the public even though its creator is no longer in this world.

[Despairo]

satoshi profile last active was December 13, 2010 and Bitcoin price was $0.24. After that Bitcoin price keep increasing despite there's always ups and downs, now Bitcoin price is $26,800, we're currently in the future after the inventor aka satoshi left.

It's mean Bitcoin is better without satoshi? nope, if satoshi didn't create Bitcoin, no one will know there's a true decentralized currency out there.


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