Dan Pena was spot on when he said something like "if we knew who made Bitcoin, its value would tank to zero". Just think about it, if the US government could track down Satoshi Nakamoto, they'd probably find a way to wipe out Bitcoin completely. They’d just hold Satoshi captive and make him transfer all those 1 million bitcoins to them. Once they sell all that BTC, the price would crash and it’d be game over for Bitcoin. Plus, the whole decentralization story could take a hit. The only reason Bitcoin is still chugging along and getting bigger is that its founder has kept himself anonymous all this time.
Well, I respect your belief but I do not think that what you said will likely happen. Sure we can create diffrent scenario and argue about what wiuld really happen if this x and y scenario happen but we cannot deny the fact that what we are discussing is just an illusion and is not realistic because it did not happen.
I disagree, if Satoshi should appear to the public today, they will only go after him and do nothing about bitcoin, because y has been created and went global, being a decentralized digital currency, even himself Satoshi cannot stop bitcoin, because he never made it a centralized coin, now let's wake up from the dream, we can never know who Satoshi is, because he's the source to the privacy we are all having and appearing to the public could only be of harm to him and not on bitcoin.
We already know who (or rather, what) created Bitcoin: the US government. It was a team within either the CIA or the NSA.
This is the only way to explain "Satoshi" sitting on $120 billion $60 billion, and the only way to explain why the inventing entity wouldn't convert any of his invention just to see how it worked. A team within the US government could not spend a single dime of the stuff because of the mess it would cause in the bureaucracy. And then when Bitcoin got bigger, the problem just multiplied.
And it has to be the US government, since any other government in the world wouldn't be able to overlook this much money just to maintain a state secret, except maybe China, but they would't care and would probably blow up Bitcoin just for fun if they could.
Before he was elected Trump said he would, "pay off the national debt with Bitcoin". That is consistent with the US government owning a large portion of Bitcoin as well.
Edit: And no, I don't think it would affect the price too much if this open secret came out. Big holders of Bitcoin probably already know this, and in the last few years Bitcoin has become deeply intertwined with the US government, and buyers don't seem to care, or even think it's a good thing.
Why will they go after him if he committed no crime? SuperBitMan did not created the topic the way I think he wanted. He may want to add that if Satoshi is a criminal or charged.
There are people like Ethereum founder and other blockchain developers that are only living a luxurious life now.
The reason people think if Satoshi is knowing that the market price might crash is because they believe people sentiment towards downtrend will let the market go down.
Nobody needs to know who satoshi is. The code is open source and anyone can read it. That's what really matters, not satoshi's identity. Do you know who created monero? Nobody does. What do you think would happened to him if we knew? He would be in jail. Look what happened to the coinjoin wallet devs, mixers etc... satoshi was smart to hide his identity because he knew some people wouldn't like bitcoin. he knew he would attract so many enemies. He didn't want to make himself a target and that's why he stood anonymous. Btc can't go to zero, not anymore. It is because there will always be somebody somewhere who'll need bitcoin. People demand bitcoin because btc solves a real world problem and satoshi's identity has nothing to do with this.
Why do you make it seems that satsoshi is a fugitive and someone hiding from government for a crime committed to create Bitcoin, is not illegal and the United State government can't just hold Satoshi and demand that he handover the 1 million Bitcoin without any Court warrant and for now we don't have such case against Satoshi, in my view, Bitcoin will continue to thrive because of the decentralized nature of Bitcoin government or Satoshi can't control Bitcoin network and nodes actions.
Why would they seize the funds he owns? Like, is there any law that Satoshi has broken to get arrested and have his funds seized? I don't think so. Instead, they are adopting crypto, they are paving the way for others to follow rules and what is theirs will remain theirs. The government has only one way to seize those funds, and that is if someone breaches the wallet and moves all the funds, and then somehow the US government gets their hands on them. This way they can seize and will add them to their national strategic reserves. IYKYK
But they won't go after Satoshi because there are some theories that the CIA created Bitcoin haha, not so true or sure, but I don't think they would go after Satoshi anyway.
Even if they go after Satoshi, it won't go to zero, there will still be adoption (demand).
In your mind, why was Satoshi arrested? Is the government being too cruel by detaining someone with no sign of any criminal offense?
What many people are worried about, when Satoshi is active and then he sells all the bitcoins to the market, then this will be a long bad sentiment, investor confidence will drop because Satoshi sold his bitcoins.
But that's unlikely to happen, because somehow I believe Satoshi will never come back again, while now there are too many conspiracies about him.
You all are sounding like this because satoshi has not been discovered, if he was discovered 5 years ago or even now you all may be shocked, Im sure satoshi knew what may happen to him in the future that was why he even decided to keep himself anonymous.
You all should remember that the US government really dont need you to do something wrong, they can always frame you up with something tax crimes, money laundering, sanctions violations, running illegal financial services.
Politics is something you should fear. Satoshi knew they will pin something on him, his smart.
And you cant compare Bitcoin and other cryptocurrencies and there creator they are all centralized and the government can always have control over those shitcoins and that control is what the government wants.
I think people are actually getting the wrong narrative about Satoshi been anonymous, people think he is hiding from the government like someone who has done some crime and its a bad narrative. His anonymity is simply his personal decision for privacy sake, until he reveals his identity he isnt any criminal or fugitive.
Yes I also think if Satoshi is actually not anonymous I think his speeches or anything about him will not only be a fundamental for bitcoin alone but for the entire cryptocurrency at large. Imagine him saying he expects bitcoin to reach certain price within certain timeframe I think everyone is actually going to simply buy into that speculation. His daily life activities might seriously affect the bitcoin sentiment.
I don't think so, because we have every dick and Harry creating different shitcoins to rug pull investors and nothing happened to them. Trump created his shitcoin and made millions of dollars. Satoshi will be free living a flamboyant lifestyle. People will be going to him to give speech on bitcoin in events and so on. Bitcoin is now part of the global financial system.
I guess it depends on the decision after Satoshi is found. So some possibilities could happen although I'm not sure that it would be zero but the impact would obviously be a little bit bigger.
When satoshi is known, the most likely thing that will happen is that bitcoin will weaken a little bit in terms of the market because since the beginning anonymity has always been key but when we can see satoshi then the value of anonymity will decrease and this will be a turmoil for the market especially when the government intervenes.
It's just that going to zero won't happen right away because even that I don't believe will happen, bitcoins will weaken but they will still remain valuable and that's what I still believe to this day so I won't believe when bitcoin reaches zero even if the government uses any means to eliminate it. Bitcoin will continue to exist by its very nature so going to zero is an impossibility.
I dont really think Bitcoin would go to zero if Satoshis identity was revealed, I think Bitcoins downfall would give way too much power to Satoshi when Bitcoin was designed to be decentralized so that no one person has control.
If Satoshi were to show up tomorrow, Bitcoin would not be considered centralized because there is open-source code, thousands of independent nodes, decentralized miners, and a good chunk of the worlds population that own Bitcoin. Bitcoin has evolved beyond its creator, even Satoshi himself, Bitcoin is governed by consensus, and not by Satoshis permission.
Everyone likes to speculate that if Satoshis coins ever moved, the market would drop to zero, this is silly and uneducated because the market works a lot different than that. Yes, it is true there would be a lot of panic and a lot of people would be selling, but that would also mean there would be a lot of buyers. We have seen a government sell seized Bitcoin, exchanges collapse, whales dump, bans on Bitcoin in major world economies, and so much more, yet Bitcoin continues to survive every economic collapse. The price of Bitcoin may drop significantly, but it will never go to zero.
Besides, just because the US government (or any other government) knows who Satoshi is, doesnt mean they can just go move the coins, Legal threats do not touch Bitcoin keys. Those coins are completely untouchable without any forced cooperation. For me, Satoshis been anonymous is important to Bitcoin but not because Bitcoin will die without it. It's just important because it remove the possibility of central person to blame, sue, arrest, pressure or even worship, Bitcoins real strength is that it no longer depends on any person at all, Thats the whole point.
So according to you, if the U.S. government knew who Satoshi was, they'd arrest him and steal his coins for committing no crime and then BTC would go to zero. That's quite an analysis. BTC is actually not decentralized because Satoshi is anonymous, it is because there is no central authority in control, not even Satoshi, if they return or decide to reveal their identity.
However, if we knew who Satoshi was, then truly some people could move their own coins based on what Satoshi does with theirs and that could influence the price of BTC often, but that's that.
No.
It won't be automatically go to zero because if they'll selling it, that means that there's a buyer, there's a taker and receiver.
So, the demand will still continue. The price would drop a lot certainty at that moment but it won't be zero because to whom they're selling?
That means there's still value that remains in it if they successfully able to sell all of it.
The total supply of Bitcoin is 21 million so selling 1 million Bitcoin doesn't make the price to go to zero, it has to be at some value right then only it is possible for someone to purchase that.
The reason why the identity of Satoshi should be not known is that government can create fake propaganda towards bitcoin tied with the real character of the person, who can be not we thought he was but it doesn't make the system he created as wrong too but media, government and every major channel can manipulate that way so it is better not give them any opportunity.
BTC will not go to zero if the Bitcoin in Satoshi's wallet gets sold. The price will definitely drop drastically, but it won't go to zero.
Satoshi being known also would not make the price of Bitcoin go to zero. Agreed, it may not be as big as it is now, but it won't be zero. Bitcoin was created in a way that, even without Satoshi, it will function and grow, so even if he is known or not, Bitcoin will still survive.
Coins like Ethereum, Solana and BNB that do not have the quality feature of Bitcoin and the creators are all known haven't gone to zero, so why will Bitcoin go to zero?
Even if they did discover Satoshi's identity, I'm not convinced it's the real Satoshi. It could be someone else being used as a scapegoat to attack Bitcoin. This could all be fabricated by the US government just to make people believe they've caught Satoshi. So I wouldn't believe anything the US government says, even if they claim to have tracked down Satoshi and arrested him - Satoshi was much smarter in being able to close off any possibility that any party could trace his identity. Furthermore, they have no reason to attack Satoshi, as he hasn't committed any crime. Bitcoin doesn't harm anyone and doesn't break any laws, so arresting him for any reason would just sound ridiculous.
I don't see that reason to get Bitcoin gets to zero if Satoshi is found, if the US government could get hold of him, the negative news about Bitcoin as well as the person behind the reason why people are draining their funds through trading, investment and others are now caught red-handed.
That allegations alone will literally destroy the reputation of Bitcoin, people never love to hear the negative news about Bitcoin, Satoshi staying anonymous is helping to sideline the news, can't find who to blame and such, the industry doesn't give a fuck about your emotions when dips occur.
People be blaming Satoshi for creating what destroy people's funds, but the same time, you can't find him.