What if Satoshi builds a bitcoin exchange and a hard wallet? Would we be safer?

[Churchillvv]

He have created the asset that revolutionized the financial market forever does not mean that is good in all the areas. A exchange is completely different. Demands management of people, security, technology, informations and taxes. Besides that, he would have to implement KYC, something that goes against the decentralized nature of which he is adept. Maybe a wallet would stay more in his area, by the knowledge that has in technology. Would be a good wallet? Yes, I would buy a wallet made by the own Satoshi.

Don’t also forget that we have something called DEX decentralized exchanges, so even if he created one it would have taken the nature of decentralization.

Moreover, I love the fact he stop where he did because he didn’t have to do all the jobs himself, created it or started it and let the world do the finishing and make whatever that will be required for much easier access.

[lombok]

This is part of the reasons why he said he has moved on to other things so that nobody will start suspecting that he has a hidden agenda for creating bitcoin. If Satoshi had created his own exchange wallet don't you think that people will see it that he intends to do an exit scam in the future? Satoshi wants this bitcoin project to succeed that is why he was anonymous so that it wouldn't raise any suspicion of any kind. I think it's high time we stopped imagining things about Satoshi Nakamoto.

The very existence of intermediary body formed by the creator itself proves contradiction of the principle of decentralization right from the start. The presence of centralization of power over private deposits and transaction infrastructure has quite a possibility of causing doubt regarding the centralized motive behind making profits privately.

By resigning and keeping himself anonymous, the system is saved from the danger of being corrupted by any cult personality. By freeing the protocol from any kind of centralization, it has been ensured that it remains independent for further growth.

[Asuspawer09]

I mean, all wallets are not going to be 100% safe, so even if Satoshi makes something like a hardware wallet or any wallet it wouldn't going to be a safe wallet that was going to be better than the other crypto wallet.

We could say that I might be better to compared to other wallet because it was built by satoshi but if the user is the one who is going to make some kind of mistake it is just going to be the same thing, we just can't make it better because you are surely going to get drain whatsoever if you are making a lot of mistakes on your security. If the user is the one clicking the wrong link or carelessly giving away his private key then it wasn't like the wallets issue at all.

[famososMuertos]

I know you want an analogy that primarily seeks to establish trust, but you don't need a figure like SN to make it feasible. The current situation is critical, but surely SN would tell you to use a cold paper wallet and a hardware wallet as a hot wallet.

[traderethereum]

How do we know if Satoshi really build it? No one knows who Satoshi for real so we must make sure first before use it. If he build hardware wallet, he should explain the details including he is the real Satoshi.

Safer? From what? From hack or scam? We responsible choosing the exchanges and hardware wallet and we don't pick random the wallet but research.

I don't know I want to use it or not before I research. Don't Trust, but Verify is the thing before deciding.

[The Cryptovator]

We often hear that Bitcoin gives us financial freedom and theWhat if Satoshi Nakamoto decided to build his own Bitcoin exchange and hardware wallet? Would that make Bitcoin safer, or would it create another problem? ability to control our own money. However, when it comes to buying and securing Bitcoin, many of us still depend on third party services.

First of all, it’s quite impossible; there is zero per cent possibility. Because that guy hid himself even after the biggest discovery – how would he come to the front of the public just to create an exchange and hardware wallet? However, it's even hard to prove who Satoshi Nakamoto is. Unless he signed a message from his address, it’s not possible to prove at all.

However, even if he comes in front of us and creates these, then still it will be a centralised exchange. I will just consider the exchange like other centralised exchanges. Nothing else, no chance to trust the centralised exchange that has to follow the regulations. Regarding hardware wallets, they also should consider the same as other hardware wallets. Have to check everything, like codes, etc. It doesn’t necessarily mean to trust blindly. His holdings are enough for him; he really doesn't need to open a new business.

[wapwapwendy]

We often hear that Bitcoin gives us financial freedom and theWhat if Satoshi Nakamoto decided to build his own Bitcoin exchange and hardware wallet? Would that make Bitcoin safer, or would it create another problem? ability to control our own money. However, when it comes to buying and securing Bitcoin, many of us still depend on third party services.

We buy Bitcoin on exchanges, leave some of our funds on those platforms, and purchase hardware wallets from manufacturers to protect our private keys.

The recent large attacks on bitcoin from ColdCard Hardware Wallet to the most recent which is Ledger Hardware Wallets and Cryptobilis and many other exchanges that have been compromised got me thinking "What if Satoshi Nakamoto decided to build his own Bitcoin exchange and hardware wallet? Would that make Bitcoin safer, or would it create another problem?"


If Satoshi (this is hypothetical i am just thinking aloud) decides to create an exchange or a hardware wallet would you use it?

For me i would definitely use it because the originator of this magnificent currency would definitely know how best to protect it.

Even if Satoshi created an exchange and a hardware wallet, I wouldn't trust them blindly just because of who he is. An exchange still means trusting a third party with your funds, and a hardware wallet needs to be properly tested and reviewed. For me, the most important thing is being able to verify the security and keep control of my private keys. Bitcoin's whole point is that we don't have to rely on one person, even Satoshi himself.

[5W-KILO]

Satoshi can't build something he has no vision for, you don't get it OP, Satoshi doesn't think the same way that other developers do, he has no reason to build his exchange, if he did, it will be a Dex but what difference will it make?

Just because I can build exchange doesn't mean I should, it have no be something revolutionary, you people don't understand Satoshi at all, all developers brings theirs experiment projects up to make money, Satoshi did Bitcoin to bring freedom.

They have not the same vision, in this crypto space many people are building to get rich, in satoshi's world he built what he could to change the world, it's revolutionary to build something that makes the banking system weak.

It's revolutionary to build something that beats centralisation.

[Ishicryptic]

He have created the asset that revolutionized the financial market forever does not mean that is good in all the areas. A exchange is completely different. Demands management of people, security, technology, informations and taxes. Besides that, he would have to implement KYC, something that goes against the decentralized nature of which he is adept. Maybe a wallet would stay more in his area, by the knowledge that has in technology. Would be a good wallet? Yes, I would buy a wallet made by the own Satoshi.

This thread is about 'what if, just to broaden our minds if Satoshi were to come back to do this or to do that but in reality we know that Satoshi has done his perfect work and finished well when he created Bitcoin there is no need to return for whatever reasons. Satoshi cannot build a Bitcoin exchange because along the line it will jeopardize his privacy which I know that he cannot try, I think that we should let Satoshi, to rest and enjoy his masterpiece creation in his privacy, no need for him to add another feather to his cap. Although I wouldn't mind to use a Satoshi hardware wallet but I know that it cannot happen, he has created Bitcoin, let other great minds worry about how to access and send their Bitcoin.

[Nasdel4]

If Satoshi builds a bitcoin exchange or a hard wallet that defeats the whole purpose of bitcoin as a decentralised cryptocurrency but if he actually did, it will be built based on the same principle of decentralisation and  the Blockchain Technology.
Based on that people will still be able to trade bitcoin without relying on a central authority which definitely makes sense but critically speaking I doubt if he'll venture into that due to policies and procedures needed to achieve that. It will leave him exposed and probably the value placed on bitcoin might deteriorate so I just think it's best the way it is right now.

[retreat]

The recent large attacks on bitcoin from ColdCard Hardware Wallet to the most recent which is Ledger Hardware Wallets and Cryptobilis and many other exchanges that have been compromised got me thinking "What if Satoshi Nakamoto decided to build his own Bitcoin exchange and hardware wallet? Would that make Bitcoin safer, or would it create another problem?"

So, why do you think Satoshi stopped developing features like P2P Poker, P2P Marketplace, etc., in the early days of development? Because he realized that developing those features was unnecessary and too complex. The main goal of Bitcoin is to be a secure decentralized money, and he focused more on that rather than developing other features that could distract from its purpose and introduce additional risks - He wasn't perfect, so there's no guarantee, for example, that the "exchange" or "hardware wallet" he developed would be 100% secure.

[Hewlet]

For me i would definitely use it because the originator of this magnificent currency would definitely know how best to protect it.

I think many people would use it simply because it came from Satoshi, and honestly, I would be tempted too. Ideally, we would assume that The creator of Bitcoin should understand its security better than most people hence the reason it will be easier to trust it. However, would that be enough reason to trust his exchange and hardware wallet? Even the best developers can make mistakes, so security should be proven, not assumed.

by the way, Bitcoin was designed to reduce the need to trust a central authority, so having satoshi controlling the exchange and wallet could introduce a different kind of risk to bitcoin and create some sort of bias in the minds of users.

[marrcelo]

This thread is about 'what if, just to broaden our minds if Satoshi were to come back to do this or to do that but in reality we know that Satoshi has done his perfect work and finished well when he created Bitcoin there is no need to return for whatever reasons. Satoshi cannot build a Bitcoin exchange because along the line it will jeopardize his privacy which I know that he cannot try, I think that we should let Satoshi, to rest and enjoy his masterpiece creation in his privacy, no need for him to add another feather to his cap. Although I wouldn't mind to use a Satoshi hardware wallet but I know that it cannot happen, he has created Bitcoin, let other great minds worry about how to access and send their Bitcoin.

Is true. Satoshi already did the most important: created Bitcoin. He never would return to promote a own project by money or fame. If wanted this, already would have appeared. Besides that, he would run the risk of be arrested or pressed to reveal informations about Bitcoin. Even that today he does not have more control over the protocol, today who has control over Bitcoin is the community.