I Am Not Satoshi Nakamoto

#1

Post by zdw » Sat, Sep 25, 2021, 12:17 AM UTC

I Am Not Satoshi Nakamoto
schneier.com

Re: I Am Not Satoshi Nakamoto

#2

Post by cyphertruck » Sat, Sep 25, 2021, 1:14 AM UTC

Of course he isn’t Satoshi. Satoshi isn’t a big mystery, but the person(s) deserves the anonymity they can maintain.

Bitcoin is the one true thing that has not been corrupted in this world, despite the decade of FUD thrown at it.

Bruce however has shown my esteem for him was misplaced, worse by linking to WIRED, which long ago became an ideological propaganda site with no interest in advanced technology.

Bitcoiners would love a good anti-bitcoin argument.

It’s a tragedy nobody has any.

Re: I Am Not Satoshi Nakamoto

#3

Post by theparanoid » Sat, Sep 25, 2021, 1:16 AM UTC

cyphertruck wrote: post #2

Of course he isn’t Satoshi. Satoshi isn’t a big mystery, but the person(s) deserves the anonymity they can maintain. Bitcoin is the one true thing that has not been corrupted in this world, despite the decade of FUD thrown at it. Bruce however has shown my esteem for him was misplaced, worse by linking to WIRED, which long ago became an ideological propaganda site with no interest in advanced technology. Bitcoiners w…

Bruce linked to his own opinion piece in Wired.

Re: I Am Not Satoshi Nakamoto

#4

Post by gnabgib » Sat, Sep 25, 2021, 1:16 AM UTC

cyphertruck wrote: post #2

Of course he isn’t Satoshi. Satoshi isn’t a big mystery, but the person(s) deserves the anonymity they can maintain. Bitcoin is the one true thing that has not been corrupted in this world, despite the decade of FUD thrown at it. Bruce however has shown my esteem for him was misplaced, worse by linking to WIRED, which long ago became an ideological propaganda site with no interest in advanced technology. Bitcoiners w…

He linked to his own essay published by wired.

Re: I Am Not Satoshi Nakamoto

#5

Post by tuyguntn » Sat, Sep 25, 2021, 1:20 AM UTC

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Re: I Am Not Satoshi Nakamoto

#6

Post by pope_meat » Sat, Sep 25, 2021, 1:21 AM UTC

cyphertruck wrote: post #2

Of course he isn’t Satoshi. Satoshi isn’t a big mystery, but the person(s) deserves the anonymity they can maintain. Bitcoin is the one true thing that has not been corrupted in this world, despite the decade of FUD thrown at it. Bruce however has shown my esteem for him was misplaced, worse by linking to WIRED, which long ago became an ideological propaganda site with no interest in advanced technology. Bitcoiners w…

A fixed supply that always grows in value doesn't encourage investment, just "hodl". And I ain't an economist, but hoarding wealth for the sake of hoarding wealth isn't good for society.

If you have to invent another coin to encourage investment/spending rather than hoarding...well why not use that coin.

I'm not entirely anti-crypto, I think Monero is neat.

Re: I Am Not Satoshi Nakamoto

#7

Post by tuyguntn » Sat, Sep 25, 2021, 1:25 AM UTC

tuyguntn wrote: post #5

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deleted

Re: I Am Not Satoshi Nakamoto

#8

Post by unemphysbro » Sat, Sep 25, 2021, 1:25 AM UTC

** IRS noises intensifying **

Re: I Am Not Satoshi Nakamoto

#9

Post by spurgu » Sat, Sep 25, 2021, 1:25 AM UTC

Quickly skimming through the Wired piece, am I weird for not being that uncomfortable with companies like Coinbase managing your crypto? Or Namebase.io managing Handshake domains? Most people don't care about self-hosting/self-managing their stuff and just want something that works and is easy to use. With both of these (Bitcoin & HNS) you can still have 100% control over it if you choose to.

So what if 90% of people decide to instead trust a third party with their holdings (like 100% now do with banks)? A portion of Coinbases holdings are even insured[0], gasp. And with regular banks you're paying increasing amounts in "management fees" to maintain this insurance. Cryptocurrencies have proven that you don't have to have traditional layers of trust and that's where I see the technological breakthrough.

Disclaimer: Somewhat neutral about crypto in general.

[0] The USD/EUR holding rather than crypto IIRC

Re: I Am Not Satoshi Nakamoto

#10

Post by spurgu » Sat, Sep 25, 2021, 1:28 AM UTC

pope_meat wrote: post #6

cyphertruck wrote: post #2

Of course he isn’t Satoshi. Satoshi isn’t a big mystery, but the person(s) deserves the anonymity they can maintain. Bitcoin is the one true thing that has not been corrupted in this world, despite the decade of FUD thrown at it. Bruce however has shown my esteem for him was misplaced, worse by linking to WIRED, which long ago became an ideological propaganda site with no interest in advanced technology. Bitcoiners w…

A fixed supply that always grows in value doesn't encourage investment, just "hodl". And I ain't an economist, but hoarding wealth for the sake of hoarding wealth isn't good for society. If you have to invent another coin to encourage investment/spending rather than hoarding...well why not use that coin. I'm not entirely anti-crypto, I think Monero is neat.

I've always seen this as a weird argument. Most people live paycheck to paycheck and don't have the option to hold even if they wanted to. And those that have extra income will invest it in whatever gains them interest, with the explicit intent of not spending those funds in the short term. I don't see why crypto's deflationary properties would play any practical role at all. Well except that you could actually just hold your income (if you were paid in crypto) instead of having to go through the hassle of figuring out what to invest in.

Edit: But yeah, if only looking at those people who would refrain from investing in stocks and just hold crypto, then yeah, that would leave money out of circulation stimulating the economy. But just overall, for the normal person, it's a moot point.