Post
Topic
Board Bitcoin Discussion
Re: Satoshi's Fortune lower bound is 100M USD(DEBATE GOING ON, DO NOT TWEET!)
by
Etlase2
on 14/04/2013, 19:51:25 UTC
They deserve to be wealthy.  I fail to get how there is anything whatsoever wrong about someone being rewarded for doing something successful that has improved the world.  People who improve the world should be rewarded, as this creates an incentive for future innovation.

I don't think anyone would have misgivings about Satoshi becoming fairly wealthy because of bitcoin. However, the type of wealth that satoshi is likely to possess is more than just "fairly wealthy" if bitcoin were to supplant a significant amount of the world's wealth store. He would be put right in the place of the bankers on Wall Street. Massive amounts of control over the liquidity of the currency. Able to bend political will to suit his own interests. No one can say for sure what those interests are or how this will play out. But to pretend this is only about jealousy that somebody got rich is a child's game. For the well-respected members of this forum to consistently reply in carefully crafted answers refined over time to downplay the significance of this is unsurprising due to the fact that they are also likely to benefit significantly if this becomes the case, regardless of what they say.



He' didn't take any care at all with the bitcoin he mined ........... (quote from post above) ....... Was he already taking precautions in regard to his anonymity at the point he first mined?

Bitcoin was never once publicly discussed prior to its release.* You can be damn sure he knew quite well how this could play out and that every coin he ever mined is absolutely secure. We're talking about genius here, but it is so easy argue that he was so smart up until it came to keeping track of his money.  Roll Eyes Roll Eyes Roll Eyes

* This is wrong, it was discussed several months prior, quite late in the process of designing an entirely new currency.