random
Hot News

What are the reasons for keeping the Bitcoin inventor "Satoshi Nakamoto" unknown?

Home
 What are the reasons for keeping the Bitcoin inventor "Satoshi Nakamoto" unknown?

Bitcoin is more than a decade old, and during this short period of time, the currency was able to transform from just an idea and a small technical application to one of the current largest currencies in the world, and despite its remarkable success to the point of time, the founder of the currency is still unknown and unknown.

What are the reasons for keeping the Bitcoin inventor "Satoshi Nakamoto" unknown?

Over the years, Satoshi's true identity has been the subject of speculation, with many names coming up which is not surprising, as people love mystery and riddles.

On the other hand, the huge Bitcoin stock that Satoshi extracted in the early days of cryptocurrencies remained the same, and in the event of his return, this bitcoin could flood the market, which could affect the price of the cryptocurrency, and we had got a hint about the extent of this impact on Mid-year 2020 when the bitcoin price was dumped due to news that some Satoshi era coins had moved.

What are the reasons for keeping the Bitcoin inventor "Satoshi Nakamoto" unknown?

  • Maintaining decentralization:

Let's start with the facts.

We know that Satoshi was driven by a vision of a currency that did not depend on trust in third parties or the government, this was Satoshi's philosophy, which he explained through the Bitcoin White Paper, in which he stated the following:
What is required is an electronic payment system based on proof of encryption rather than trust, which allows any two interested parties to deal directly with each other without the need for a trusted third party.
 Given Satoshi's clear intentions here, it is likely correct that preserving his identity was necessary to ensure that Bitcoin was decentralized and not supervised or managed by any party, including the founder himself.

The creators of cryptocurrencies have a great influence on the societies that grow around their digital currencies, which has caused some to worry about this particular matter.

Earlier, Vitalik Buterin, the creator of Ethereum, was told that he was not enthusiastic because society attached great importance to him.

While "Charlie Lee", the creator of Litecoin, gave up ownership of his creations, wherein a post on "Reddit", "Lee" said:
It's a conflict of interest for me to grab LTC and tweet because I have so much influence.
 

 


 Over the years, Bitcoin users have expressed their desire for Satoshi Nakamoto to return.

In a post on the Bitcoin forum in which one of the Bitcoin users told:
Satoshi’s opinion will help the community to make the decision, not because he is more efficient than the current main developers, and not because he is an authority figure but because it will reassure and give confidence to the investors.
 
  • The dark side of the Bitcoin founder's disappearance:

Another competing theory is that Nakamoto knew that the authorities would pursue him after the creation and launch of Bitcoin if his identity was established.

Bitcoin may be the successful cryptocurrency we all know today, but it was a far cry from the world's first attempt to find an alternative to the currencies issued by the state.

In 2011, Bernard von Northouse was found guilty of making, possessing, and selling his own currency, the Liberty Dollar.

It might be the same fate that Nakamoto could face, who certainly knew that Bitcoin was going to gain some powerful enemies.

Governments generally do not like it when threats to their sovereignty and monetary policy emerge, and although they may not be able to block Bitcoin itself, it can make life uncomfortable for its creator, especially if they know where it is.

It is this idea that British film production company, “Substantial Films” is crystallizing in the form of a film called Decrypted, where Satoshi Nakamoto is tortured by the National Security Agency in an attempt to extract information that will destroy the entire crypto industry.

This might be considered a worrisome viewpoint, but it is important to keep in mind Bitcoin's controversial beginnings.

For many, Bitcoin is still synonymous with "Silk Road", which is arguably the most popular "Dark Web" marketplace in the world.

Silk Road has become a popular destination for those looking to launder money and purchase illicit goods with Bitcoin.

Although the FBI closed this store in 2013, this market dealt an early blow to Bitcoin's perceived legitimacy as an alternative currency, and Nakamoto probably did not want to deal with the fallout.

  • Lots of hands lighten your workload:

There is a possibility that "Satoshi Nakamoto" is not one person, but several.

Some analyzes indicate that it is almost impossible for one person to create a cryptocurrency that is now worth billions of dollars, remain anonymous, and succeed in completely hiding paths and identities.

Although Satoshi claims to be a 37-year-old Japanese man, the original Bitcoin white paper is written in excellent English, and there are analyzes indicating that his email address came from a German internet provider.

Some take these facts that the founding and creation of Bitcoin was a collaboration, not a sole proprietorship.

Additionally, the creation of Bitcoin showed such a thing in both economics and computer programming, as many now believe that the popular cryptocurrency cannot be designed by just one mind.

If you are the kind of person who supports conspiracy theories, here is this analysis:

Some say that Satoshi Nakamoto is actually the CIA, as Satoshi Nakamoto is the CIA, and the fact that no one really knows who Nakamoto was is a clear sign that Bitcoin was created by intelligence professionals.

If Bitcoin was actually designed by an intelligence agency, we might not be aware of Satoshi Nakamoto's true identity.

Faced with many competing theories, the cryptocurrency community has no choice but to resort to speculation and imaginative analysis.
google-playkhamsatmostaqltradent