Post
Topic
Board Bitcoin Discussion
Merits 2 from 1 user
Re: 11 years without Satoshi
by
kaggie
on 13/12/2021, 17:25:47 UTC
⭐ Merited by BlackHatCoiner (2)
Totally unlikely, but sometimes I just think of the potential chaos it would bring if suddenly Satoshi decides to login on Bitcointalk and post again(with signed proof of a Satoshi address). I would really love to hear Satoshi's opinion on Bitcoin's current state.

I bet it would have gotten further with him, tech-wise.

But what you must remember is that bitcoin wasn't a guaranteed thing to succeed. It wasn't only about the tech. The tech gave a mathematical solution. Bitcoin adoption required not only the mathematical, but getting people to trust and use it. Satoshi may have been a genius, but the community required its own geniuses too.

I'm certain that he would identify several needs in our global state -- further decentralization of networks, better adoption of bitcoin (and maybe even other crypto). Regardless of what the market cap is, the question remains what it always was -- how do you get your neighbor to use it?

I think so, the mere presence alone of the founder would give them so much influence that could greatly affect the market. Imagine some of those stashed coins attributed to their address were moved suddenly, the tabloids would have a field day spinning articles about how the founder may have lost faith in their own invention, sparking a massive sell off.

It wouldn't be so dramatic, but yes, there would likely be a market fall. A massive sell off wouldn't happen and couldn't happen. Most likely a person that wealthy could simply buy homes and yachts with their bitcoins directly with a decent mark up, if they haven't already done so. If you're that wealthy, selling off after 10+ years wouldn't be exactly your first concern.

I still hold the idea that you avoid getting screwed after the wikileak accepting of bitcoin as payment and you left for good (great choice).

I bet it's well more that wikileaks accepting bitcoin. It was Gavin Andresen visiting the CIA (which probably helped the community). But there were likely infights and scams already in those early days, as soon as decent money ($100s+)  began to move in single transactions.

I mean, sit down and think of it. During a financial crisis and out of nowhere, a stranger creates “magic internet money” by solving a problem that was considered impossible 'til that year, sees it working and disappears. Unbelievable.

TBF, even the NSA had been looking at the problem over a decade earlier. Even earlier paper, such as those by Okamoto, nearly two decades before tried to address the problem of digital currency.

Digital scarcity was inevitable. And still is.