why do people trust bitcoin if we dont know who satoshi is?

[Miles2006]

so i always think about this. people and big companies put millions into bitcoin but nobody knows who satoshi is. what if he comes back tomorrow? would the market crash? whales are risking huge money on something that depends on one unknown person. is this not a crazy risk? i dont get it. please share your thoughts.

I’m curious why is everyone worried about bitcoin? Same people worried about bitcoin investment using discouraging words like “satoshi is unknown so anything can happen to bitcoin anytime” or questions like why people still hold bitcoin when it’s not 100% trusted, well same people are the ones investing in other investments without knowing who the creator is.
I realize when it’s about bitcoin a lot of newbies are more worried about satoshi identity, quite strange when knowing for a fact bitcoin has been for long with a good record reason why companies invest huge amount.

[Odogwu-Blockchain]

so i always think about this. people and big companies put millions into bitcoin but nobody knows who satoshi is. what if he comes back tomorrow? would the market crash? whales are risking huge money on something that depends on one unknown person. is this not a crazy risk? i dont get it. please share your thoughts.

What if Satoshi comes back, to do what? If he should scam these investors, he should've done it since without coming back.

Listen, the Satoshi is a group of developers and whales who invest huge amount of money, time and attention into creating Bitcoin. It's code do not operate on a hidden agenda, it's transparent for everyone to integrate and connect into your business.

That's how Satoshi does it that it can't be destroyed by him now any external entity.

[HelliumZ]

so i always think about this. people and big companies put millions into bitcoin but nobody knows who satoshi is. what if he comes back tomorrow? would the market crash? whales are risking huge money on something that depends on one unknown person. is this not a crazy risk? i dont get it. please share your thoughts.

Based on some of the qualities of Bitcoin, I basically trusted Bitcoin without knowing the inventor of Bitcoin. Where Bitcoin is a completely decentralized currency, no one can control it, so where is the difficulty in trusting it?
Again, you can also use it as a borderless transaction medium where you have to depend on a third party for other transactions and you will not be dependent on anyone else for Bitcoin transactions, so why should you not trust Bitcoin?
Again, where inflation is a big problem in the currency systems of different countries in the world, Bitcoin is able to solve those problems. Then you can use Bitcoin as an alternative to the modern banking system and paper money. So why would you be afraid to trust Bitcoin?

[Hazink]

so i always think about this. people and big companies put millions into bitcoin but nobody knows who satoshi is. what if he comes back tomorrow? would the market crash? whales are risking huge money on something that depends on one unknown person. is this not a crazy risk? i dont get it. please share your thoughts.

What's crazy here is not doing your homework and knowing that bitcoin doesn't depend on one man to survive, and even if Satoshi comes back today, he will only have access to the coins he has access to and not what others are holding. If he sells all his holdings, that will finally end the question of what if? For good.

[JollyGood]

The account farmer OP creates this thread to add to posts to his newbie account and after that does not post here again even though the thread is inundated with replies. If the OP has zero interest in this thread, others should not post.

I did point out that the OP is conducting himself in a very suspicious manner yet the replies are still being posted. Members should not be encouraging account farmers to continue with their nefarious conduct.

[The Cryptovator]

so i always think about this. people and big companies put millions into bitcoin but nobody knows who satoshi is. what if he comes back tomorrow? would the market crash? whales are risking huge money on something that depends on one unknown person. is this not a crazy risk? i dont get it. please share your thoughts.

We are not trusting Satoshi; we are trusting Bitcoin and its codes that’s deployed on the blockchain, and no one could modify it alone. If only major developers, miners, exchanges, and communities want to upgrade or hard fork Bitcoin, then it’s possible. Otherwise, even Satoshi can’t modify Bitcoin anymore.

We don’t know what will happen if Satoshi reveals himself; the market would react negatively due to fear of Satoshi’s Bitcoin sale. Otherwise there are no issues technically. We can’t ignore the fact he could influence the market, but probably he won’t destroy his own kingdom.

[aoluain]

so i always think about this. people and big companies put millions into bitcoin but nobody knows who satoshi is.

The Bitcoin protocol works perfectly well without 1 single person, all he* had to do was create the
Genesis block, and attract a few users. Everything regarding the coding, updates and changes to
the network are based on consensus not 1 person or a CEO or a board of management, this is one
of the strong points behind Bitcoin.

what if he comes back tomorrow? would the market crash?

Literally the Universe would cease to exist . . .

As above what would Satoshi have to offer other than maybe some tips on the current code version,
no one entity controls Bitcoin, Satoshi wouldnt control anything other than what he owns.

Yea the market would crash for the simple reason that people expect . . . actually I dont know what
people expect. There are a lot of misconceptions out there, the OP is an example of this

whales are risking huge money on something that depends on one unknown person. is this not a crazy risk? i dont get it. please share your thoughts.

As above nobody is risking anything on Satoshi staying away or returning, it is what it is. Satoshi
alone if he* wanted to cannot change anything about Bitcoin.

[KiaKia]

so i always think about this. people and big companies put millions into bitcoin but nobody knows who satoshi is. what if he comes back tomorrow? would the market crash? whales are risking huge money on something that depends on one unknown person. is this not a crazy risk? i dont get it. please share your thoughts.

I trust Bitcoin because everything that's supposed to be shady about it is public and transparent, aslo for Bitcoin to work as a decentralised digital asset the creator needs to remain a ghost, he did It very well.

Compare BITCOIN to other alternative coins, their builder came out in the open, show the world who they really are, believing that it is way better this way but in the end they deceived a lot of people.

So you asking this question is because you don't think things very carefully, Bitcoin works and nothing about its utility got changed, other coins utilities have been swapped too many times because they don't even know what they want.

[TheUltraElite]

Bitcoin was never about trusting its creator, the central authority like system that exists in so many other transaction system does not run here and hence the people who use crypto trust the process and not necessarily the creator.

Because the system works in a manner that even if the owner comes back and attempts to disrupt it, that would not work now that the support from the rest of the community will come in to oppose that.

Most of the coins that came after had some sort of leverage on the hands of the creator which just makes them not worthy of being compared to bitcoin.

[Tmoonz]

What Satoshi Nakamoto created works and that's all I need to know for me to trust whoever he is or whatever they are, do you have to know who built a specific plan before you board it?

Bitcoin creator created something that smart humans will need to become free from this controling world, anyone who says otherwise enjoys been under the control of the centralised entities.

For what he created to be functional and stays the same he needs to disappear, it's not even like he just vanished for no reasons, he did it so that the decentralised innovation he created can keep surviving.

I can say that it will even take more than knowing who Satoshi is to trust Bitcoin, alot of people will still not believe or have this trust on Bitcoin even if they knew who Satoshi is, good enough no one is being persuaded to trust the system, the good thing is that the dreams of what he created has come to light and is working regardless of him being anonymous, it is a choice anyways to see the worth of Bitcoin and get involve with whatever that has to with it, Bitcoin is functional that is what should matter more than getting to know who the creator is.

[Proty]

Bitcoin doesn't depends on anyone for its network to keep running and not even satoshi. Though his presence may affect how people react to the Market. Also don't forget that bitcoin is decentralised in nature, which means apart from you no other person not even satoshi has control over your bitcoin. However satoshi coming back may influence the market, if he moves or sells a huge amount of bitcoin or makes some changes.

[bitLeap]

so i always think about this. people and big companies put millions into bitcoin but nobody knows who satoshi is. what if he comes back tomorrow? would the market crash? whales are risking huge money on something that depends on one unknown person. is this not a crazy risk? i dont get it. please share your thoughts.

This thread was in a post on the 15th, it is now October 16th and Satoshi is not back so your concern is dispelled.
I have heard this view many times and the answer remains the same that it is more than enough to believe in the decentralization of its blockchain without the need to believe in Satoshi.

[LogitechMouse]

so i always think about this. people and big companies put millions into bitcoin but nobody knows who satoshi is. what if he comes back tomorrow? would the market crash? whales are risking huge money on something that depends on one unknown person. is this not a crazy risk? i dont get it. please share your thoughts.

If Satoshi comes back tomorrow? The market will not crash

This is the reason why many are investing into Bitcoin. Of course, there's the profit out there, but the fact that nobody knows Satoshi might be one of the reason why many are investing into it. It might be weird, but there are so many weird people out there. Anyway, you don't need to trust the creator before investing into it. I will give you a perfect example of this one. Just look at PEPE coin. I will not tell anything, but try and make a research about it, and you will see why.

Anyway, I think that the market cap of Bitcoin right now is too huge already for it to crash like what happened in the past. I have these "what if's" on my mind though, but nevertheless, the fact that there are huge companies that are putting their money into it is a sign that Bitcoin is becoming just like other assets out there like Gold, Silver, and the Stock Market.

[Out of mind]

so i always think about this. people and big companies put millions into bitcoin but nobody knows who satoshi is. what if he comes back tomorrow? would the market crash? whales are risking huge money on something that depends on one unknown person. is this not a crazy risk? i dont get it. please share your thoughts.

We all know who Satoshi Nakamoto is, he is the creator of Bitcoin, but we don't know his identity, although many people think that investing in Bitcoin is an interesting and risky thing. However, Satoshi is an unknown person, if you think that Bitcoin should not be relied upon for the future, then I would say that you are completely wrong. We know that the creator of Bitcoin has had many Bitcoins in his wallet for a long time and they are still there, Bitcoin has been around for so many years, but no one has found his identity, in that case, there may never be a situation in the future where Satoshi's identity will be known.
If no one invests because Satoshi is missing, then it is his failure, but we can see that those who invested in Bitcoin in the past have benefited a lot today. And if we look to the future, Bitcoin certainly has a good future. That is why big investors analyze all aspects and invest in Bitcoin, and big companies are also investing in Bitcoin to improve their financial position.

[YOSHIE]

why do people trust bitcoin if we dont know who satoshi is?

So, with Satoshi's identity hidden and not appearing, that's where Bitcoin becomes interesting. If Satoshi's identity is known to the public, it's clear that he will be considered the CEO of Bitcoin or the "leader" of Bitcoin, meaning that Bitcoin no longer belongs to the global community, If that situation occurs, it is clear that Satoshi could experience attacks from various parties such as political pressure, legal threats, regulations and so on, Bitcoin is no longer absolutely decentralized and so on.

In fact, people who believe in Bitcoin certainly don't have to trust anyone, including the government or its creator, when you trust Bitcoin you shouldn't trust someone's promises or reputation, the formula produced by Bitcoin remains the same a² + b² = c² even though the identitySatoshi is unknown.

[Ahli38]

so i always think about this. people and big companies put millions into bitcoin but nobody knows who satoshi is. what if he comes back tomorrow? would the market crash? whales are risking huge money on something that depends on one unknown person. is this not a crazy risk? i dont get it. please share your thoughts.

People’s trust in Bitcoin stems from its proven system. Bitcoin is also transparent in terms of its development infrastructure so there is nothing hidden about its mechanisms. So far Bitcoin has not encountered any issues that could bring it down. And Bitcoin remains unaffected by negative news that disparages Bitcoin or even its creator. So I personally believe that these reasons are what make public trust in Bitcoin even stronger. And you should know that Bitcoin is owned by the public not just a single entity so people don’t need to know Satoshi’s identity. We don’t need to know who invented a spoon because we’re confident that we can make use of its function. As for Satoshi’s return that’s still unclear. And if he’s still around at least we’d be able to track his activity. But you can’t see even the slightest sign of activity from Satoshi even though Bitcoin’s price is so high right now.

[Nothingtodo]

so i always think about this. people and big companies put millions into bitcoin but nobody knows who satoshi is. what if he comes back tomorrow? would the market crash? whales are risking huge money on something that depends on one unknown person. is this not a crazy risk? i dont get it. please share your thoughts.

Even if Satoshi returns, it is not likely that Satoshi will have much of an impact on the market because Satoshi has 1.1 million Bitcoins. So if Satoshi is alive and if he comes out in public, the market may not do very well initially and then gradually return to normal. If he releases his 1.1 million Bitcoins into the market, the market may have a huge negative impact for a few days and then gradually the market will return to normal and the 1.1 million Bitcoins he has in his hands will be distributed among all investors and traders, so Satoshi himself will not be able to claim to be the owner of the largest holding of Bitcoin. Moreover, people are now investing in Bitcoin without knowing whether Satoshi is alive or dead. And people also know that Satoshi alone does not have control over Bitcoin.

[AprilioMP]

so i always think about this. people and big companies put millions into bitcoin but nobody knows who satoshi is. what if he comes back tomorrow? would the market crash? whales are risking huge money on something that depends on one unknown person. is this not a crazy risk? i dont get it. please share your thoughts.

Should you trust your feelings of hunger and fullness that tell you to eat? What kind of question is that? What is Bitcoin for, and that’s a question you need to know the answer to, given that it’s a peer-to-peer currency. Once you know that Satoshi is back, does that mean we’ll stop believing in Bitcoin? Satoshi created Bitcoin to make the public trust it, but given the current state of Bitcoin users, Satoshi has provided convenience and freedom—with full control resting solely with the Bitcoin owners themselves.
If he returns, we’ll carry on as usual with the Bitcoin we own. Whether the market is affected or not depends on how people react when buying and selling.

[SilverCryptoBullet]

Should you trust your feelings of hunger and fullness that tell you to eat? What kind of question is that? What is Bitcoin for, and that’s a question you need to know the answer to, given that it’s a peer-to-peer currency. Once you know that Satoshi is back, does that mean we’ll stop believing in Bitcoin? Satoshi created Bitcoin to make the public trust it, but given the current state of Bitcoin users, Satoshi has provided convenience and freedom—with full control resting solely with the Bitcoin owners themselves.
If he returns, we’ll carry on as usual with the Bitcoin we own. Whether the market is affected or not depends on how people react when buying and selling.

People believe in Bitcoin because of Bitcoin protocol, how good it is from decentralization, censorship resistance, strongly secure, and not because of who is or who are the Bitcoin founder. The disappearance of Satoshi Nakamoto is actually very helpful for Bitcoin project, the blockchain development and Bitcoin communities but it does not hide risk like if Satoshi returns, Bitcoin will have big problems.

Bitcoin protocol was programmed by Satoshi Nakamoto initially as it won't be changed by a single person. The protocol needs community support in the majority in order to be upgrade for Bitcoin blockchain. Assume if Satoshi Nakamoto actually comes back, he won't be able to change Bitcoin blockchain, the protocol only by himself.

[pawanjain]

so i always think about this. people and big companies put millions into bitcoin but nobody knows who satoshi is. what if he comes back tomorrow? would the market crash? whales are risking huge money on something that depends on one unknown person. is this not a crazy risk? i dont get it. please share your thoughts.

Why do you need to trust someone to use bitcoin ? Yes, we don't know who Satoshi is but that's exactly what we want to trust bitcoin isn't it.
We don't need a leader or something, we can directly trust the tech behind bitcoin and expect it to work on the basis of that and that's what is happening.
So many people trust bitcoin already and that is why the institutions are stacking it.