3 ms·
You’re projecting your temptation into people based on your values, as is Nelson. But you are not Satoshi. Satoshi faces risk worse than Edward Snowden. The c
by cyphertruck 7y ago
You’re projecting your temptation into people based on your values, as is Nelson. But you are not Satoshi. Satoshi faces risk worse than Edward Snowden. The central bankers are far more formidable.
And the solution is easy: Satoshi mined initially to bootstrap bitcoin. He was the only one mining in the early days.
But then once there were enough other miners, all he had to do was destroy his private key.
If he’s greedy he just waited until he had enough bitcoin mined in other addresses that were never associated with him, before doing so.
Zero temptation. And hard to feel much regret... because he had opportunity to mine a great deal in those early years.
- nullc 7y ago> He was the only one mining in the early days. This is untrue-- we know other people who mined in the first days. The way the initial released software worked, it wouldn't mine unless another peer was connected. So it's possible that there has never been a moment when there was only one party mining.
- chrismeller 7y agoI know nothing of the Bitcoin structure now or then, but there’s a logic flaw there... 1) At some point during development he would have absolutely been the only one mining because the code only existed on his machine. 2) Requiring that another peer be available doesn’t mean that both peers couldn’t be run by the same person, even if they were run with different sets of keys. A peer in this case is a software construct, not a physical one.
- nullc 7y ago> 1) At some point during development he would have absolutely been the only one mining because the code only existed on his machine. Block 1 was created about 7 after the software was publicly released. Whatever he did in development was thrown away, block 0 is an unspendable placeholder.
- nullc 7y agoerp. 7 hours.
- deleted 7y ago[deleted]
- wil421 7y agoBitcoin is not a risk to the bankers. It’s just another vessel they can use to make money. It’s been 10 years and all bitcoin has done is make people think they can get rich by investing in it. It the early 2010s it was billed as the Next Big Thing that was going to change the world. I’d argue Facebook has changed the world more than bitcoin, for better or worse.
- cyphertruck 7y agoBankers make money via The Cantillion effect. Frankly, your response shows how revolutionary bitcoin is- it’s been ten years and you haven’t learned enough about it to understand it. That’s fine, most people haven’t, and bitcoin isn’t ready for the world to adopt it. But not meeting your timeline expectations is not it’s fault. It doesn’t care.