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

[tread93]

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?

Honestly Satoshi checked out so long ago I am convinced that he was Hal Finney but hey you never know. I think he would be or probably is very proud of all that Bitcoin has achieved. If he is alive im sure it must be fun having made something so monumental and nobody even knows who you really are. I bet you he is already rich and that's why he's never had to even touch the coins

[Kelward]

If Satoshi were around and want to assess how far Bitcoin has come today I don't think that he'll rate it a failure, he will understand that change is possible. He created a decentralized digital currency that nobody can control including himself so he won't be surprised to see that his creation has shifted. Bitcoin was meant for p2p transactions, it evolved into an asset that is a store of value and now people prefer to hodl it rather than spending it. I think he will be impressed about Bitcoin innovation as a profitable asset, it hasn't changed from being decentralized and having a limited supply.

[shield132]

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.

Bitcoin is not a failure, his code works the way he wanted it to work and there are even some betterments to his code, so I don't think that he would call Bitcoin a failure but I'm sure that he wouldn't like the way we use Bitcoin today. He created it to solve real-life problems that were associated with payments and instead of using Bitcoin for payments, people use it for investment to hold them in wallet and do not touch for years but that's not the end, the worst thing that happened to Bitcoin is that centralized exchanges, organizations like BlackRock and governments are slowly acquiring Bitcoin and owning a highest portion of it. Satoshi wouldn't feel happy about this.

[Danica22]

If Satoshi were around and want to assess how far Bitcoin has come today I don't think that he'll rate it a failure, he will understand that change is possible. He created a decentralized digital currency that nobody can control including himself so he won't be surprised to see that his creation has shifted. Bitcoin was meant for p2p transactions, it evolved into an asset that is a store of value and now people prefer to hodl it rather than spending it. I think he will be impressed about Bitcoin innovation as a profitable asset, it hasn't changed from being decentralized and having a limited supply.

Bitcoin remains decentralized to this day, but he created it with the intention of helping us reduce our dependence or move away from third parties like banks and governments. But look what's happening, bitcoin is largely in the hands of governments, centralized organizations. Many investors even store bitcoin on centralized platforms instead of using non-custodial wallets.

It is safe to say that bitcoin has not failed, but it has changed in a direction opposite to what he expected. I don't think he would be happy or impressed with what bitcoin has achieved today.

[Mate2237]

I think that the vision of Satoshi is really a success today because looking at the way that Bitcoin has become a global phenomenal company I can comfortable say that Satoshi can't call bitcoin a failure, yes I understand your fear about Bitcoin getting more centralized especially when it comes to identity.


What has happened is that Bitcoin has become so successful that government just has to put some measures to safeguard the space because even now that that we are seeing all these measures there are allot of concerns about the activities of people with their use of Bitcoin, in as much as Bitcoin is one good way of solving problems in the area of sending money without any third party interference we should also look at how people has tuned this noble Idea of Satoshi to criminal side.

[Abiky]

There’s no reason for Satoshi to see his own investment as a failure. The fact that bitcoin continues to conquer the whole cryptocurrency market and is now reaching another heights while trying to co-exist with fiat, this is already a huge achievement for bitcoin.

With government’s approval and acceptance hopefully in the future, everything will be set for bitcoin. It’ll probably takes time, but even so if bitcoin won’t reach to the point of being accepted as a currency globally, still seeing how people keep the high demand for bitcoin and maintain its position, that’s already a big success for bitcoin.

I think Satoshi wanted Bitcoin to replace Fiat. I mean, he did create it as a response against banks' failures in 2008 (Great Financial Crisis). Satoshi was both a libertarian and cypherpunk. The least that he would think about was getting BTC integrated into the existing financial system. While the core Bitcoin blockchain is still decentralized, coins in circulation are ending in the hands of centralized exchanges and institutional investment firms. They can manipulate market prices whenever they want to. And if they continue to dominate the space, it will be no longer possible to buy/sell BTC without getting through KYC.

With crypto mixers getting banned in the US (more info here), you can see where all of this is heading to. I figure Satoshi would be upset with the path Bitcoin has taken. It's up to the community to defend decentralization and censorship-resistance. The question is: Are they up to the task? Or will they be intimidated by government's tactics to put a stop to the revolution? Only time will tell.

[gogarza63@hotmail.com]

My opinion, surely not a failure. Bitcoin Beach is a great example. Now able to trade without having to wait for Tio Have to send money with 3rd party $10 fee to Tia Fun who then has to travel and hour or more to a said location to pay $11 to receive was an ultimate fuel source for Satoshi's thoughts. Visionaries who truly understand the value of blockchain. The benefits for all communications, weapons, financial and the list goes on has truly been revolutionized and surely now the world can and should be a safer better place. IOT will better extract its benefits and that's why for those who don't put all their eggs in one basket I been following Archer Aviation, Echostar, and RTX. Along with BTC just label that the Fortress Fund sit on your hands don't smoke too much and then you can ask yourself. What are you going to do with all that fresh coin? Hopefully your answer is making the world a better place. Go Bitcoin Go!!!

[Hamza2424]

Satoshi may not like the path towards the "institutionalization" of Bitcoin, but at least, this will give the "green light" for the continued growth of the industry. The fate of the Blockchain lies in the community's hands. Let's hope things go along smoothly until the very last BTC is mined.

Well said, the future of Bitcoin now depends on the community, but the community seems to be uninterested in the vision of Satoshi. Most of them have not even read the Bitcoin Whitepaper; they just know one thing, that Satoshi Nakamoto created Bitcoin, and that’s it. Haha, the funny thing is many who pretend to be serious about investing and all that don’t know anything about Bitcoin. They just pretend they know, and they don’t ask because they think it will be humiliating.

They don’t get it that if they don’t study, they will end up in the hands of others who know everything, and those people can easily manipulate them. Anyway, thanks to the current community and developers of these DEXs and non-KYC platforms, they are keeping everything online for now until they are suppressed by authorities.

[seireistarlinkfes]

three people; include Dave Kleiman（C++) ,  CSW ( designer)

[God Of Thunder]

We don't know what he would call it today, but I am sure he would be disappointed to see people keep their funds on centralized exchanges. He didn't want us to use Bitcoin like we do today. The casinos are irrelevant here because we do not keep funds in casinos. It's just a platform where people make deposits to entertain themselves. So, I don't see how it is too bad. People can still maintain their privacy and keep their crypto wallet and casino life different by using multiple wallets.

ETFs helped Bitcoin a lot economically. But I hate them personally because the companies own large amounts of Bitcoin, and they can actually manipulate the entire market if they want. So yes, Satoshi would be disappointed seeing how it is today.

[AprilioMP]

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.

If many users are still active through centralized platforms, Satoshi may also understand that it is also part of the alternative so that the transaction is still active.

For example, I am domiciled in a rule of law that imposes Bitcoin not 100% as Satoshi wants, only as a commodoti asset, of course the activities that I can do must be like that considering I cannot use bitcoin like a cash as a means of payment in every transaction.
Inevitably I have to go through a exchange that requires KYC.

[DanWalker]

We don't know what he would call it today, but I am sure he would be disappointed to see people keep their funds on centralized exchanges. He didn't want us to use Bitcoin like we do today. The casinos are irrelevant here because we do not keep funds in casinos. It's just a platform where people make deposits to entertain themselves. So, I don't see how it is too bad. People can still maintain their privacy and keep their crypto wallet and casino life different by using multiple wallets.

ETFs helped Bitcoin a lot economically. But I hate them personally because the companies own large amounts of Bitcoin, and they can actually manipulate the entire market if they want. So yes, Satoshi would be disappointed seeing how it is today.

Those who believe in him will be delighted to see bitcoin become popular globally and reach a value of $100k. They just answer to themselves, they never think about satoshi's original purpose of creating bitcoin or try to put themselves in his shoes. Most people think that satoshi created bitcoin for profit, so everyone thinks he would be happy with what bitcoin has.

But that isn’t so, and I agree with you. Satoshi can hardly be happy with what is going on. When bitcoin is not only not used for the purpose it was created for (peer to peer money), but many of us even use centralized services to store it. Or worse, the majority of the bitcoin supply is slowly falling into the hands of governments and institutions. How can he be happy when everything that is happening goes against the philosophy of bitcoin?

[TNavarro007]

"In Appendix B, we provide a Python code that can be used to uncover Block 170’s Q." 
Go to Substack/Posts and search for CBGarcia.

[Ziskinberg]

If Satoshi were around and want to assess how far Bitcoin has come today I don't think that he'll rate it a failure, he will understand that change is possible. He created a decentralized digital currency that nobody can control including himself so he won't be surprised to see that his creation has shifted. Bitcoin was meant for p2p transactions, it evolved into an asset that is a store of value and now people prefer to hodl it rather than spending it. I think he will be impressed about Bitcoin innovation as a profitable asset, it hasn't changed from being decentralized and having a limited supply.

Seeing bitcoin alone that continues to gain high demand until now, even if not as a currency but a good store of value, that’s already something that Satoshi can be proud of. Only bitcoin can do that, while the rest of the cryptocurrencies have failed to achieved that. So definitely, bitcoin is a big success, and for that Satoshi should be happy and proud seeing his bitcoin innovation made a huge impact to an individual’s economy and even to the country’s economy as well.

[Stalker22]

Well, the entire point was to send money from one person to anther without a bank or centralized entity involved along the way.  To an extent, bitcoin still fulfills this idea.  OK, maybe todays bitcoin is not practical for day to day purchases, it is an extremely safe and reliable way to send large amounts of money, in their full amounts, with little to no limits.  So, the idea of transitioning from p2p cash system to a "store of value" has the potential to be a failure of his original idea, but I dont think Satoshi would be disappointed

[zakservers]

I think he will be happy to see the growth of Bitcoin over the years, however about KYC, its still that many companies and exchanges are asking it for their own service, its like, it has nothing to do with BTC, but their own terms of service, so yes I think he will be very happy to see where bitcoin is today.

[Sabio]

Maybe needs improvement. Ohm/∞. BTC

[X-ray]

If Satoshi were around and want to assess how far Bitcoin has come today I don't think that he'll rate it a failure, he will understand that change is possible. He created a decentralized digital currency that nobody can control including himself so he won't be surprised to see that his creation has shifted. Bitcoin was meant for p2p transactions, it evolved into an asset that is a store of value and now people prefer to hodl it rather than spending it. I think he will be impressed about Bitcoin innovation as a profitable asset, it hasn't changed from being decentralized and having a limited supply.

I mean after the FDV is getting this high, the P2P activity should be more seamless because volatility isn't a problem anymore.

I also think that he'd be impressed how far his creation has been going, literally being the recognized digital asset of the world that every country is slowly adopting it.

Maybe he even thinks that such thing is inevitable, but then again who knows right?

[Publictalk792]

Those who believe in him will be delighted to see bitcoin become popular globally and reach a value of $100k. They just answer to themselves, they never think about satoshi's original purpose of creating bitcoin or try to put themselves in his shoes. Most people think that satoshi created bitcoin for profit, so everyone thinks he would be happy with what bitcoin has.

But that isn’t so, and I agree with you. Satoshi can hardly be happy with what is going on. When bitcoin is not only not used for the purpose it was created for (peer to peer money), but many of us even use centralized services to store it. Or worse, the majority of the bitcoin supply is slowly falling into the hands of governments and institutions. How can he be happy when everything that is happening goes against the philosophy of bitcoin?

Many people who believe in Bitcoin are happy to see its value grow much and now above $100k. However you pointed out that Satoshi Nakamoto would likely be disappointed and I agree that because Satoshi original goal was to create peer to peer electronic cash that was decentralized and outside control of banks and governments. Today Bitcoin is rarely used for everyday payments. Instead of this it is mostly treated as investment or digital gold. Situation is made worse because people are using centralized exchanges to hold their Bitcoin and governments and big companies are buying up large amounts of it. These actions go against Bitcoin main ideas of decentralization and individual freedom. It is interesting thought that very things that make Bitcoin successful today may be very things that go against its founding purpose.

[God Of Thunder]

Those who believe in him will be delighted to see bitcoin become popular globally and reach a value of $100k. They just answer to themselves, they never think about satoshi's original purpose of creating bitcoin or try to put themselves in his shoes. Most people think that satoshi created bitcoin for profit, so everyone thinks he would be happy with what bitcoin has.

That is the problem. We are not using it the way Satoshi wanted us to. Satoshi wanted us to avoid all kinds of KYC problems. He wanted us to "OWN" our own money. But we let others keep our funds, and they show some numbers in our account. The keys are not in our hands, and we cannot control anything. Basically, we do not own the funds if we keep them on any centralized exchanges.

I translated an article a long time ago from Gazeta, which wrote an informative article about how we use Bitcoin and how Satoshi wanted us to use it. I understand the mistake I made, yet we continue to make the same mistake.