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Who is Satoshi Nakamoto?


Kakashi2020

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It is said that a certain Satoshi Nakamoto created the Block Chain Technology or the program that creates Bitcoin back in 2009, but did you know that Satoshi Nakamoto is just a Pseudonym and until now noone knows who or what group created Bitcoin.  It may well be a group considering that a single person creating and launching it on his own is highly improbable.  It is said that the person or persons behind it mined 1 Million Bitcoins that is now worth Billions of dollars, about 18 Billion nowadays.  

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Sometimes I ask myself what gave one the thought of creating the Blockchain technology and digital currency? Well, it's as they say, great minds would always surprise you with what they can come up with and it's just the case with Bitcoin and blockchain introduction to the world and it's never going to halt ever again. 

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That's really great information, i was really wondering how did they valued it. Currency and value is really a complex thing and most of the times currency is valued through economic results. Now the value of bitcoin is erratic and i'm lost how these things happen. Can anyone enlighten me?

 

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On 5/18/2018 at 7:11 PM, fishbate said:

That's really great information, i was really wondering how did they valued it. Currency and value is really a complex thing and most of the times currency is valued through economic results. Now the value of bitcoin is erratic and i'm lost how these things happen. Can anyone enlighten me?

 

The value or price of Bitcoin depends on the value it is being traded, that's why the fluctuations are erratic and it's movements is quite unpredictable, it can be compared to a stock being traded but in reality it's a currency.  But eventually it's price would settle and it would become stable.  One thing though, what will happen if all the Bitcoin has been mined? The mining servers won't be supporting it's network anymore right?

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3 hours ago, Kakashi2020 said:

The value or price of Bitcoin depends on the value it is being traded, that's why the fluctuations are erratic and it's movements is quite unpredictable, it can be compared to a stock being traded but in reality it's a currency.  But eventually it's price would settle and it would become stable.  One thing though, what will happen if all the Bitcoin has been mined? The mining servers won't be supporting it's network anymore right?

Who ever has it can dictate the value i suppose because as you said it's like stock trading. As long as bitcoin is being used and has value i think it will never stop. I guess it will be just a cycle which value will change constantly.

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3 hours ago, fishbate said:

Who ever has it can dictate the value i suppose because as you said it's like stock trading. As long as bitcoin is being used and has value i think it will never stop. I guess it will be just a cycle which value will change constantly.

I agree with you on that Bitcoins value relies on how it is used and that it's value will constantly change and one can't discount the fact that a lot of people do believe it and it is being used by a lot of of people nowadays giving it a high value,  and I do think that Bitcoins value would continue to appreciate up to the $100,000 mark and even higher as the number of coins to be mined decreases.

 

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10 minutes ago, Kakashi2020 said:

I agree with you on that Bitcoins value relies on how it is used and that it's value will constantly change and one can't discount the fact that a lot of people do believe it and it is being used by a lot of of people nowadays giving it a high value,  and I do think that Bitcoins value would continue to appreciate up to the $100,000 mark and even higher as the number of coins to be mined decreases.

 

That's why i think its a cycle. The value of bitcoin doesn't level with the value of a country's currency. If you buy bitcoin in US compared to let's say Asia , your bitcoin could be higher in Asia in terms of converting it with the countries value. Therefore if your buying stocks using bitcoin in Asia but the transaction values is in dollars you might get more stocks. Wow , i'm having a headache right now...

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On 5/21/2018 at 1:20 AM, fishbate said:

That's why i think its a cycle. The value of bitcoin doesn't level with the value of a country's currency. If you buy bitcoin in US compared to let's say Asia , your bitcoin could be higher in Asia in terms of converting it with the countries value. Therefore if your buying stocks using bitcoin in Asia but the transaction values is in dollars you might get more stocks. Wow , i'm having a headache right now...

Precisely, the value of Bitcoin and how it progresses and decreases can be likened to the movement of stocks hence it could be predicted, you just first need to identify the yearly cycle and it's price highs and lows.

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On 5/20/2018 at 2:04 PM, fishbate said:

Who ever has it can dictate the value i suppose because as you said it's like stock trading. As long as bitcoin is being used and has value i think it will never stop. I guess it will be just a cycle which value will change constantly.

It will never stop and that is the confidence that I have. I mean trading on Bitcoin is something that is going to last for a longer period of time since it is gaining relevance as the year closes by.

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  • 1 month later...
On 5/30/2018 at 9:46 AM, Henrywrites said:

It will never stop and that is the confidence that I have. I mean trading on Bitcoin is something that is going to last for a longer period of time since it is gaining relevance as the year closes by.

But I can't help thinking, why Satoshi denied that he developed it?  I mean I think there's more to the story and logically it's more feasible for a group of people to develop it and not one man. Right?  So who really was behind Bitcoin? That really is the unanswered mystery here.

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3 hours ago, Kakashi2020 said:

But I can't help thinking, why Satoshi denied that he developed it?  I mean I think there's more to the story and logically it's more feasible for a group of people to develop it and not one man. Right?  So who really was behind Bitcoin? That really is the unanswered mystery here.

The reason behind the denial might simply be to remain safe and for nothing more. We know how some governments are fighting real hard to stop the trade of Bitcoin and that is one big reason we should have to be careful on what we say that we have done.

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  • 3 months later...
On 7/7/2018 at 2:50 PM, Henrywrites said:

The reason behind the denial might simply be to remain safe and for nothing more. We know how some governments are fighting real hard to stop the trade of Bitcoin and that is one big reason we should have to be careful about what we say that we have done.

 
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I agree that denying was a form of staying safe. Imagine the harassment he could be facing right now if he accepted? How about the heavy taxation, probably for the government to control Bitcoin? 

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On 5/17/2018 at 1:02 PM, Kakashi2020 said:

It is said that a certain Satoshi Nakamoto created the Block Chain Technology or the program that creates Bitcoin back in 2009, but did you know that Satoshi Nakamoto is just a Pseudonym and until now noone knows who or what group created Bitcoin.  It may well be a group considering that a single person creating and launching it on his own is highly improbable.  It is said that the person or persons behind it mined 1 Million Bitcoins that is now worth Billions of dollars, about 18 Billion nowadays.  

I agree with you. That's what I also thought. I thought it was his real name. Today I just learned from you that it was just a pseudonym.

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On 7/7/2018 at 12:50 PM, Henrywrites said:

The reason behind the denial might simply be to remain safe and for nothing more. We know how some governments are fighting real hard to stop the trade of Bitcoin and that is one big reason we should have to be careful on what we say that we have done.

The fear of cryptocurrency taking over fiat currency is the main reason why some governments in some parts of the world refuses to accept and approve the use of cryptocurrency. 

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His technology disrupts the modern economic system. Humans can kill for the money cash. He desired his life. It’s the great things that he should do. I don’t care if I never know his real name. I wish him a pleasant and peaceful life as he desired. He has served a remarkable for humanity. That’s what people do while the actually need to serve humanity. They serve and no person is aware of. well accomplished!

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17 hours ago, anyone01 said:

His technology disrupts the modern economic system. Humans can kill for the money cash. He desired his life. It’s the great things that he should do. I don’t care if I never know his real name. I wish him a pleasant and peaceful life as he desired. He has served a remarkable for humanity. That’s what people do while the actually need to serve humanity. They serve and no person is aware of. well accomplished!

I do agree that Bitcoin's technology has somehow disrupted the financial system but it's all back to normal now.  At present people are still studying it's movement as well as its uses and implications.  in my opinion prople are waiting for Bitcoin to evolve further and gain more acceptance.

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