- Is it good or bad if Satoshi returns after hyperbitcoinization?
- What does it mean if one man owns 5% of all the world's stable currency?
- Does this possibility serve as an impediment to adoption?
- Would the present distributed concensus governance model break down under the presence of Satoshi?
- Should we consider excluding/retiring his 1M BTC wallet address(s) from transactions for the sake of egalitarianism?
- Does Satoshi deserve a 5% hold over all the world's wealth?
- Would Satoshi effectively become a ruler over the entire world?
related posts
193 sats \ 0 replies \ @clementinemoney 25 Jul 2022
No doubt it would be better for the image of Bitcoin and for the perceived fairness of the system if this did not happen. But, to play devils advocate, Bitcoin is so decentralized already and would be much more so by that point that it would be pretty hard for Satoshi to exert any kind of undue influence over the network itself just because of his wealth.
Also, it wouldn’t be that far removed from current near trillionaires under the fiat system, but it all depends how you measure the available supply of dollars etc
reply
191 sats \ 1 reply \ @frostdragon 25 Jul 2022
The idea of someone emerging from the shadows with 5% of the world's wealth would be one of the most insane things to happen in human history for sure. Seems like it's something that should never fully be discounted.
The thing is, the further up you go, the more of a target you become. If Satoshi revealed him/herself, he/she would instantly become the world's biggest target for theft, assassination, manipulation, etc etc.. Seems short sighted if you ask me.
Personally, my theory is that he's dead, or there's some plan in place to distribute the bitcoin evenly among a lot of wallets to help even the playing field for late adopters so hyperbitcoinization isn't as much of a shock to the world. Kind of optimistic, I know. No one really knows, but one thing seems pretty likely: this will be one of the world's biggest mysteries for a long time.
reply
0 sats \ 0 replies \ @Brunswick OP 26 Jul 2022
If I've learned anything throughout my life about reality, it's that if anything can go wrong it will go wrong and Murphy is a bitch.
reply
122 sats \ 0 replies \ @based 25 Jul 2022
Let us then hope Satoshi is a good philanthropist. But it's not going to happen, perhaps sadly.
reply
122 sats \ 0 replies \ @ncryppt 25 Jul 2022
I really can't see this happening. Would make for a hell of a plot twist though
reply
76 sats \ 0 replies \ @k00b 25 Jul 2022
Cheap sats
Yes
It takes will to rule and by all evidence they don't have the will.
reply
22 sats \ 2 replies \ @Wil 25 Jul 2022
The power comes from the fact that he's gone. I'm sure satoshi did quite well for themselves after fading out of view.
reply
0 sats \ 1 reply \ @Brunswick OP 25 Jul 2022
"Fading out of view" could also mean "hide until its safe to come out"
reply
22 sats \ 0 replies \ @Wil 25 Jul 2022
It won't be safe for a long while :/
reply
22 sats \ 0 replies \ @Dany 25 Jul 2022
What if Satoshi has left a script running that will distribute his coins to all addresses in existence once issuance ends? That's what I would've done if I were him.
reply
22 sats \ 1 reply \ @selfish_gene 25 Jul 2022
более чем определённо что он вернётся. и скажет. в моем государстве есть 5% всех монет. и он станет поддерживать это государство на максимум. либо просто сделает распределение всех монет по всем адресам. цель. показать людям что вы должны помнить. и все начнут искать свои старые адреса и слова. пусть это будет 100000 сатош но это будет реально огромной суммой.
reply
37 sats \ 0 replies \ @Dany 25 Jul 2022
Creo que Satoshi debe haber pensado en esto con seguridad antes de desaparecer, salvo que se haya muerto de golpe y sin tiempo de implementar esta solución. Estoy seguro que, de no haber muerto súbitamente, debe haber dejado la distribución de sus monedas programada para una altura de bloque específica. Especulemos cual!
reply
22 sats \ 2 replies \ @sb 25 Jul 2022
You either die a hero. . .
reply
1 sat \ 1 reply \ @Brunswick OP 25 Jul 2022
Yes, this. I think the world presumes Satoshi died, was killed, or his wallets were lost and there is no chance we'll see him again
reply
122 sats \ 0 replies \ @sb 25 Jul 2022
I do believe that Bitcoin will survive and thrive even in a world where Satoshi returns, but we would lose the elegance of the immaculate conception.
reply
22 sats \ 1 reply \ @WaraiOtoko 26 Jul 2022 freebie
You are conflating wealth and money. Just because wealth is measured in money does not mean that all wealth is money. In the present world the wealth concentration is not much different and I don't think hyperbitcoinization would change much in relative terms. Also I don't think bitcoin should aim to do so, it is very much a political issue that should be addressed politically.
reply
0 sats \ 0 replies \ @Brunswick OP 26 Jul 2022
I don't think that I am. Money is a debt on society, a type of social contract. You can cause most anyone to act voluntarily on your behalf in exchange for money. You do not need to spend any of your money to get people to act on your behalf, they will lend you their services until an agreed upon time when you will pay them.
Therefore, Satoshi doesen't need to spend any of his money in order to achieve the necessary wealth in social capital, physical protection and security to be able to spend from his well-known addresses. It is likely he already has this through other means given a decade of his knowledge and skills, so he wouldn't even need to promise to spend from his original bitcoin.
If you think gobs of money doesen't allow you to manipulate the lens of society, you aren't paying attention.
reply
15 sats \ 0 replies \ @m3anm4chine 25 Jul 2022
every religion has a second coming
reply