If Satoshi saw today’s Bitcoin, would he call it a failure?

[freedomgo]

We’ve always said, especially us early adopters, that Bitcoin is decentralized money meant to cut out third parties, to give us a way to move funds freely without the government watching or banks handling every transaction. But looking at the situation now, yeah, Bitcoin has grown fast and become really valuable…

I don’t have exact numbers, but I’m pretty sure most Bitcoin is sitting in centralized exchanges or ETFs, basically the new Wall Street. And the one thing we all hated before, KYC it’s everywhere now, not just in exchanges but even on gambling sites.

Satoshi’s vision was peer-to-peer transactions, yet most of today’s activity goes through centralized platforms.

So the question is, do you think Satoshi would be happy with where Bitcoin is now? yes, it’s valuable, but the original goal doesn’t seem fully achieved.

[Oshosondy]

Yes, Satoshi will be very happy because bitcoin still maintain being decentralized, just that people are the ones that like to use the centralized platforms for it.

The way Satoshi designed bitcoin makes us know that people like what is centralized which makes humans the failure to make something to remain decentralized.

Bitcoin network is still decentralized and nothing has changed about that. People are the failure and not bitcoin. Non central authority has control over bitcoin.

[Hatchy]

Bitcoin is flexible that's fact. Everyone and anyone can choose to do what ever they feel is okay with them. Bitcoin still serves its initial purpose of creation, which was to create a system where government has no control over. And til date, government can still not control your funds if you store them through the right process.

Lazy folks sees centralized platforms as a safe heaven, but real bitcoiners knows what lies within owning your own keys and keeping it secured.

So it doesn't matter if bigger bodies that's are centralized own bitcoins or keep for some lazy folks, What matters is that bitcoin is still decentralised and still keeps Satoshi's vision in play..

[freedomgo]

Bitcoin network is still decentralized and nothing has changed about that. People are the failure and not bitcoin. Non central authority has control over bitcoin.

we can’t really change how the network works, it’s always been that way, and it’s open source. But I believe what Satoshi really wanted was for people to transact freely, with no KYC, no restrictions, and complete anonymity.

Some might argue that if Bitcoin had stayed purely anonymous, it might not have grown this big since it wouldn’t have gotten government support. So in a way, it feels like Bitcoin’s growth partly came from playing along with the rules governments wanted.

Now we have ETFs, which are probably one of the main reasons Bitcoin has pumped significantly, but they’re basically a playground for Wall Street, and they could end up being the main manipulators in the future.

But really… is this what Satoshi would’ve wanted to see? Or did he already imagine this possibility from the start?

[Hazink]

Satoshi’s vision was peer-to-peer transactions, yet most of today’s activity goes through centralized platforms.

So the question is, do you think Satoshi would be happy with where Bitcoin is now? yes, it’s valuable, but the original goal doesn’t seem fully achieved.

How people use their bitcoin is not supposed to be Satoshi's problem; its vision was to create something that could be used seamlessly, which is exactly still how bitcoin is being used by the people who want to use it that way.

The majority of people want to interact with bitcoin in this early stage not because they want to cut down government boundaries, but because they consider bitcoin a valuable asset which, if they buy, hold, and trade it, they can make a profit.

At least the government only has access and control over the bitcoins in their possession, and not the ones in holders' private wallets. Those who hold bitcoin in centralized exchanges are not the reason why bitcoin was created.

If anything could have made him not proud, it should be if the technology had somehow been made centralized. As far as bitcoin is still censorship-resistant, we are still on the right track.

[Creeper0]

Bitcoin is still decentralized and Bitcoin is successful for Satoshi. Satoshi's goal was to create a financial system that is completely decentralized and not transferable to third parties. It was originally created to spread peer-to-peer transactions among people.

Satoshi succeeded in his efforts and he succeeded in creating a decentralized financial system. But people failed to adapt to his financial system. Satoshi can claim to have failed in this regard.

But I still think Satoshi succeeded in his main purpose, he did what he wanted to do. The rest was dependent on people and people failed there, not Bitcoin. Most people still prefer to use Bitcoin decentralized, maybe there are some small number of people who are trying to centralize Bitcoin and use third parties to transact Bitcoin. Ignore that, because Bitcoin is still decentralized and will remain unchanged in the future.

[Japinat]

I don’t think he’s happy, considering he hasn’t touched his Bitcoin in about 15 years. Reports say he holds around 1 million BTC, so why isn’t he spending any of it? Maybe he’s just waiting for the day he surpasses Warren Buffett, like some news outlets have speculated.

Prediction: Bitcoin Creator Satoshi Nakamoto Will Be Worth More Than Warren Buffett by the End of Summer

The Bitcoin holdings of Satoshi Nakamoto are now valued at $134 billion.

Deliberately or not, Nakamoto has demonstrated the immense power of a long-term buy-and-hold strategy for Bitcoin.

If the price of Bitcoin hits $130,000 this year, Nakamoto will surpass Warren Buffett in wealth.

[Alpha Marine]

What I can say is that Bitcoin was created as a peer-to-peer currency, and it was created for those/whoever wants to use it as such. Meaning it is still a peer-to-peer currency, and anyone can use it if they want to. So I don't believe it has strayed far away from its goal.
I don't believe we've seen the peak of bitcoin, or should I say all of bitcoin. Don't forget that bitcoin was created in a time of financial crisis, and if the economy goes back to a similar state (which is more likely to occur at this rate), bitcoin will be used as a currency
Satoshi himself never used his bitcoin as a currency; if anything, he started the "store of value" movement by not spending his coins. He is the greatest holder, so I don't see a reason why he will not be happy with what bitcoin is today.

[buwaytress]

What would you call a success? Thousands of independent nodes? Tens of thousands of users? Many on this forum alone, who, hopefully (I don't want to be cynical here) still use it peer to peer? I know I'm still sending and receiving to my peers. I know I still trade P2P with the same circle of people I've known for years, and the ocassional new one also introduced by a vague but certain network of trust.

[Zaguru12]

we can’t really change how the network works, it’s always been that way, and it’s open source. But I believe what Satoshi really wanted was for people to transact freely, with no KYC, no restrictions, and complete anonymity.

In as much as I agree that Satoshi himself would have been happy or will be happier that more people are using it in an anonymous way rather than all this centralization we see today, I think he would still be happy how far bitcoin has grown. I can say that Satoshi in my opinion didn’t necessarily want to dictate how bitcoin is been used and that’s why it was design to be Pseudonymous, if Satoshi had wanted less non-flexibility he would have simply created it to be simply Anonymous strictly.

But Satoshi was all about Freedom, he simply wanted people to do what they can with the currency, how they want it and been restricted like the fiat. Satoshi didn’t even create it to eliminate the traditional currency, so yes he wouldn’t be that too bad only thing I think Satoshi would have wanted more is for it to been used as a Peer to Peer currency rather been hold only

I don’t think he’s happy, considering he hasn’t touched his Bitcoin in about 15 years. Reports say he holds around 1 million BTC, so why isn’t he spending any of it? Maybe he’s just waiting for the day he surpasses Warren Buffett, like some news outlets have speculated.

This is a poor take in my opinion, not selling doesn’t mean he is not happy with it, he might have actually leave off is bitcoin just to support the network more, do you know what FUD it will create that Satoshi move his coin out? Talk more of selling or taking anything like profit? That’s simply someone not believing totally in his own innovation, best he will do is to use it for peer to peer exchange he will never moved it to any currency.

Further more it is wrong to even think that Satoshi would want to overtake anyone in terms of wealth, if Satoshi was about this he would made more bitcoin to his name through mining more or through a mechanism that still gives him more, which today would have entirely killed bitcoin

[summonerrk]

We’ve always said, especially us early adopters, that Bitcoin is decentralized money meant to cut out third parties, to give us a way to move funds freely without the government watching or banks handling every transaction. But looking at the situation now, yeah, Bitcoin has grown fast and become really valuable…

I don’t have exact numbers, but I’m pretty sure most Bitcoin is sitting in centralized exchanges or ETFs, basically the new Wall Street. And the one thing we all hated before, KYC it’s everywhere now, not just in exchanges but even on gambling sites.

Satoshi’s vision was peer-to-peer transactions, yet most of today’s activity goes through centralized platforms.

So the question is, do you think Satoshi would be happy with where Bitcoin is now? yes, it’s valuable, but the original goal doesn’t seem fully achieved.

Satoshi would still be proud of his brainchild called Bitcoin, because now many altcoins, memecoins now look weak, but Bitcoin is still strong.
Yes, we had a time of doubt, When Bitcoin Cash or alternative cryptocurrencies appeared, which were very promising in the first boom of the altseason. Many thought that this would push Bitcoin from the leading place among cryptocurrencies. But in fact, almost all manipulations with altcoins are a way to earn money in order to buy more Bitcoin.

[Yaunfitda]

Satoshi’s vision was peer-to-peer transactions, yet most of today’s activity goes through centralized platforms.

So the question is, do you think Satoshi would be happy with where Bitcoin is now? yes, it’s valuable, but the original goal doesn’t seem fully achieved.

First we can all assumed that Satoshi is a smart individuals, a innovator. So with that assumption, he will have to know that his invention will have to adapt to the changing world. So even if it was crafted to be peer-to-peer but has evolved to be a asset or commodity or store of value as of today, then he will be happy and not call it a failure. Second, how can it be call a failure when it is being considered my most countries of today to be their strategic reserved. It means that Bitcoin is going in some places so it means it's a success whenever you look at it.

But if Satoshi will be disappointed, I think it will be that it defeated the whole decentralization of his invention. I mean right now, we have to do full KYC/AML. Or maybe the backlash about Bitcoin mining, that it hurts the environment.

[tbct_mt2]

I don’t have exact numbers, but I’m pretty sure most Bitcoin is sitting in centralized exchanges or ETFs, basically the new Wall Street. And the one thing we all hated before, KYC it’s everywhere now, not just in exchanges but even on gambling sites

Is there KYC on Bitcoin blockchain?
No.

Bitcoin blockchain is decentralized, censorship-resistant and non-KYC so it does not violate Satoshi's vision when he created Bitcoin for us.

If you use centralized exchanges or other centralized platforms and have to KYC, it's your choice, not enforcement from Satoshi Nakamoto or Bitcoin blockchain or miners.

If you choose other choices, you can enjoy no KYC experience with Bitcoin.

[betswift]

We’ve always said, especially us early adopters, that Bitcoin is decentralized money meant to cut out third parties, to give us a way to move funds freely without the government watching or banks handling every transaction. But looking at the situation now, yeah, Bitcoin has grown fast and become really valuable…

I don’t have exact numbers, but I’m pretty sure most Bitcoin is sitting in centralized exchanges or ETFs, basically the new Wall Street. And the one thing we all hated before, KYC it’s everywhere now, not just in exchanges but even on gambling sites.

Satoshi’s vision was peer-to-peer transactions, yet most of today’s activity goes through centralized platforms.

So the question is, do you think Satoshi would be happy with where Bitcoin is now? yes, it’s valuable, but the original goal doesn’t seem fully achieved.

Satoshi would still be proud of his brainchild called Bitcoin, because now many altcoins, memecoins now look weak, but Bitcoin is still strong.
Yes, we had a time of doubt, When Bitcoin Cash or alternative cryptocurrencies appeared, which were very promising in the first boom of the altseason. Many thought that this would push Bitcoin from the leading place among cryptocurrencies. But in fact, almost all manipulations with altcoins are a way to earn money in order to buy more Bitcoin.

I would say that these manipulations are done more to just profit in the end, but maybe, to some degree, you are right on that too

[Despairo]

Bitcoin is still decentralized, huge adoption, widely used, exist in television channel, merchants accept as a currency etc these thing should make Satoshi proud with his project, even though many centralized institutions bought Bitcoin and can be a threat to decentralization, but it's not yet happen.

I think as long as there are still small amount of people who use Bitcoin via P2P, hold in their wallet and run full node, he would be happy.

[Agbamoni]

How people use their bitcoin is not supposed to be Satoshi's problem; its vision was to create something that could be used seamlessly, which is exactly still how bitcoin is being used by the people who want to use it that way.

Just because Satoshi cannot say a thing about the way people use Bitcoin doesn't mean he is entirely happy that many try to use it to scam people and embezzle funds.

The idea is for decentralized monetary system and he will be happy for that but whatever way we tend to use our Bitcoin is up to us, of course there will always be people who would take advantage of any technology to use it for bad. FIY, no creator will be happy to see how people using privilege's the wrong way.

[nemesis_incarnate]

Bitcoin is still decentralized, huge adoption, widely used, exist in television channel, merchants accept as a currency etc these thing should make Satoshi proud with his project, even though many centralized institutions bought Bitcoin and can be a threat to decentralization, but it's not yet happen.

I think as long as there are still small amount of people who use Bitcoin via P2P, hold in their wallet and run full node, he would be happy.

Yeah, price would not be a requirement for BTC to prosper, rather, it would be how many people use it and how easy it is to do so, how many services allow it and want it, etc..

[Japinat]

I don’t think he’s happy, considering he hasn’t touched his Bitcoin in about 15 years. Reports say he holds around 1 million BTC, so why isn’t he spending any of it? Maybe he’s just waiting for the day he surpasses Warren Buffett, like some news outlets have speculated.

This is a poor take in my opinion, not selling doesn’t mean he is not happy with it, he might have actually leave off is bitcoin just to support the network more, do you know what FUD it will create that Satoshi move his coin out? Talk more of selling or taking anything like profit? That’s simply someone not believing totally in his own innovation, best he will do is to use it for peer to peer exchange he will never moved it to any currency.

Further more it is wrong to even think that Satoshi would want to overtake anyone in terms of wealth, if Satoshi was about this he would made more bitcoin to his name through mining more or through a mechanism that still gives him more, which today would have entirely killed bitcoin

That was just sarcasm, bro, ( forgot to  )… I’ve been here early too, not super early but early enough to get what Satoshi was trying to tell us. Still, there’s always that doubt whether Satoshi is even alive, because even at today’s price, he hasn’t touched his coins. There were reports of big amounts of Bitcoin moving from the Satoshi-era wallets, but nothing really confirmed as his.

We’re all good, man, we share the same belief that Satoshi was the real deal, building something and backing it up with action, not just words.

[Hazink]

How people use their bitcoin is not supposed to be Satoshi's problem; its vision was to create something that could be used seamlessly, which is exactly still how bitcoin is being used by the people who want to use it that way.

Just because Satoshi cannot say a thing about the way people use Bitcoin doesn't mean he is entirely happy that many try to use it to scam people and embezzle funds.

Fiat was created for the purpose of making monetary life easier for people, not for the sake of it being used to scam people. Bitcoin was also created to give users financial freedom to use their funds however they want and whenever they want.

In this life, whatever you create or develop, you can’t eradicate bad actors. I doubt if Satoshi would not even think about this way, because money embezzlement did not start in the era of Bitcoin, neither do scams. So, no one is going to be happy that what they created for another purpose is being used for evil, but the good thing is it’s serving the purpose to which it was developed.

[kotajikikox]

We’ve always said, especially us early adopters, that Bitcoin is decentralized money meant to cut out third parties, to give us a way to move funds freely without the government watching or banks handling every transaction. But looking at the situation now, yeah, Bitcoin has grown fast and become really valuable…

I don’t have exact numbers, but I’m pretty sure most Bitcoin is sitting in centralized exchanges or ETFs, basically the new Wall Street. And the one thing we all hated before, KYC it’s everywhere now, not just in exchanges but even on gambling sites.

I do not know if we could say that most of bitcoin belongs now in centralized exchanges. I still believe that a huge part of bitcoin is held in wallets without KYC. But I get your point that there is a rise of centralized exchanges being used in crypto nowadays.

So the question is, do you think Satoshi would be happy with where Bitcoin is now? yes, it’s valuable, but the original goal doesn’t seem fully achieved.

Maybe not. Maybe yes. But even as the creator, he will not be able to do anything about it since he also is powerless over the blockchain. It is how the people perceive bitcoin nowadays and no one can really stir it away from there because no one really owns or have control over bitcoin.