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Satoshi Nakamoto - a Visionary or Just Luck

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Satoshi Nakamoto - a Visionary or Just Luck

Many wonder who is the person, or group of people behind the creation of Bitcoin.

Although this question is interesting, I always wanted to know a little more - was Satoshi Nakamoto a visionary or was luck on his side?

A brief history

Nakamoto began the work on the writing of the code for Bitcoin in 2007.
in 2008, he (or a colleague) registered the domain name bitcoin.org, and created a website at that address.
On October 31, 2008, satoshi published a white paper on the cryptography mailing list at metzdowd.com describing a digital cryptocurrency, titled "Bitcoin: A Peer-to-Peer Electronic Cash System".

On January 9, 2009, Satoshi launched the network by defining the genesis block of bitcoin (block number 0), which had a reward of 50 bitcoins.

Embedded in the coinbase transaction of this block is the text: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks", citing a headline in the UK newspaper The Times published on that date.

Satoshi Nakamoto embedded message.

What were Satoshi Nakamoto's motives?

Very little is known about Satoshi and many have tried to create a character from the bits of information they found or were given by Nakamoto himself.

The most obvious was to create a decentralized digital currency outside of the control of a central bank.

In 2011, he wrote, β€œThe root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.”

Although Satoshi is not the first to try to create a digital currency, he was the first to find a solution to the double spending problem.
This suggests that Nakamoto was adept at computer science and economics.

Therefore it is very interesting to understand why a person with a wide range of knowledge chose to remain anonymous and made great efforts to maintain his privacy.

Focus on the technology, not the creator.

Did Satoshi foresee that a leader, or a main character would have a negative effect on the project and that is why he chose to remain anonymous and even leave the project in 2010?

By never revealing his identity, Satoshi ensured that no one could improperly influence or control Bitcoin.

Thus, emphasis was placed on the decentralized nature of the technology and not on the reputation of the creator.

Did Satoshi believe that there was an alternative to a centralized power that controls all the money, a power that would be shared among the entire community and decisions on the way forward would be decided by everyone?

Maybe by remaining anonymous, Nakamoto has given individuals the freedom to make their own judgments of the technology and determine the value of the asset independent of its creator.

Another possibility is that perhaps Satoshi knew how much power the government had and for that reason chose to remain anonymous and maintain his privacy.

He is not motivated by money

In the early days of the network, Satoshi took part in maintaining the network and mining until he retired from the project in 2010.

According to data from the blockchain, Satoshi is believed to hold over a million BTC in several different wallets, Which will place him among the 50 richest people in the world today.

The mere fact that the coins did not move, it can be concluded that money was not Satoshi's motive.

It is interesting to know if Satoshi predicted that Bitcoin would be able to continue to exist and even develop over the years, or if even he is surprised by how things turned out.

submitted by /u/Johnny-Joseph
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