blog posts

10 Lasting Quotes From Satoshi Nakamoto

10 Lasting Quotes From Satoshi Nakamoto, Creator Of Bitcoin

Sentences From A Man Or Woman Who Changed The Nature Of Money.

Who Is The Creator Of Bitcoin? Satoshi Nakamoto.

Who Is Satoshi Nakamoto? No One Knows For Sure.

We do not know whether Satoshi is a human or an alien being created from another dimension. Some even suggest that Satoshi Nakamoto is the name of a group of more than one person.

Vitalik Butlin, the creator of Atrium, the world’s second-largest digital currency, believes that anonymity has real benefits in a business with no central character. This stems from the decentralized nature of digital currencies.

Satoshi, whoever he is, has transformed the financial and economic world with his masterpiece, and changing the financial world can lead to changing the whole world.

From Satoshi Nakamoto, there are now only a large number of internet chats left.

Until late 2010, the anonymous creator of Bitcoin communicated online and publicly to advance his invention, until he disappeared forever on December 11, 2010, after the release of his last post.

You can now go to the Satoshi page. Read all of Satoshi Nakamoto’s posts on the forum. Isaiah McCall in

an essay By browsing Satoshi’s writings, he has compiled 11 interesting quotes from him, one of which cannot be published on the Arzdigital website due to its illegal publication in Iran.

Here are 10 famous quotes from Satoshi Nakamoto.

1. Holy message in the first block

To the first block in the bitcoin blockchain, Sex Block(Genesis block), say. Similar to religious narratives about the origin of creation, Satoshi created this block, made bitcoin available, and recorded a special message in it to record history. You can download this block from Here See.

Satoshi founded Bitcoin after the banking crisis of 2008, intending to transfer power to the people. He invented a currency in which inflation has no way out and can eventually overtake the US dollar.

To ridicule the banks, as well as provide proof of when Bitcoin will be available, he posted a clever message on the first bitcoin block:

” [Headline] The Times, January 3, 2009: President of the Treasury [England] on the eve of the second financial assistance to the bank. »
[Headline] Times, January 3, 2009: The Treasury Secretary is on the verge of a second bailout of banks.

– The blockchain

2. Satoshi problem with national currencies

Satoshi believed that the obvious problem with Fiat currencies was their centrality. “Power brings corruption, and absolute power equals absolute corruption,” was a phrase Satoshi believed in.

When power is in the hands of a limited number of people (for example, banks), corruption occurs and then leads to big mistakes that cost ordinary people to make.

His response to such a situation was decentralization or the absence of a single power. He wrote about this:

” Many people automatically reject e-currencies as a lost target because of all those e-business companies that have not been successful since the 1990s. I hope it is well established that the nature of central control in these systems was the only reason for their failure. I think this is the first time we have tried a decentralized system without the need for trust. »

– P2PFoundation

3. Remove intermediaries

The Bitcoin blockchain system is a reference that does not really need a central power. This system manages itself effectively.

Power is in the hands of the majority of the network. Satoshi has some interesting sayings about removing intermediaries:

” By having an encryption-based electronic currency, money can be secured, and transactions can be done easily without the need to trust a third-party intermediary. »

– Bitcoin mining

4. Copying is prohibited

Code in a decentralized digital currency is the law. Changes in the code have led to the creation of several electronic sub-currencies.

Bitcoin Atomic Classic and Bitcoin Unlimited (Bitcoin Unlimited) are the first Hardforks(Branches) in the digital currency world. In other words, people opposed some of the original ideas first proposed by Bitcoin. Satoshi knew that if the formula changed constantly, it would challenge decentralization.

Satoshi had to do the job right from the start. He writes:

“The nature of bitcoin is such that with the release of version 0.1 (the first version), the original design will remain the same for survival. I don’t think a second, more compatible implementation of bitcoin would ever be a good idea. Much of the plan depends on all nodes being synchronized with the same results, which will make the second implementation a threat to the network. »

– Transactions and Scripts: DUP HASH160… EQUALVERIFY CHECKS

 5. The root of all evil

Satoshi is truly a philosopher. In the following quote, he expresses one of the greatest modern ideas about money.

” The root problem of common currencies is all the confidence needed to function. The central bank should be trusted not to devalue the currency, but the history of Fiat currencies is full of cases where this trust has been violated. We have to trust the banks to hold our money and transfer it electronically, but they lend us our money in waves of credit bubbles with almost a small amount of [real] reserves. We have to trust them for our privacy; Trust them that they will not allow identity thieves to empty our accounts. »

– Bitcoin open-source implementation of P2P currency

6. Bitcoin Value Cycle

Satoshi is the first to speculate that Bitcoin will overtake Fiat currencies. He was the first true believer in bitcoin. After all, he created bitcoin himself.

Only 21 million bitcoins will be produced by 2140 (1518 AD). Before that time, however, bitcoin became one of the rarest commodities on earth. Satoshi has said about this issue:

” Bitcoin is more than just a precious metal. Instead of changing the supply to maintain value, the supply is predetermined, and that is the value that changes. The more users there are, the higher the value of each coin. This situation provides the potential for a positive feedback cycle; As the number of users increases, the value of Bitcoin increases. The increase in value causes more users to be attracted to it to take advantage of this increase in value. »

– P2PFoundation Comment by Satoshi Nakamoto

7. War of good and evil

Satoshi hated corrupt institutions. He knew that Bitcoin would eventually face regulatory issues, and even a “Panzi plan” is named; Even if these accusations are made by those who are now investing in them.

Interestingly, one of the first bitcoin holders to win the 2020 US Senate election. Sen. Cynthia Lummis of Wyoming bought her first bitcoin in 2013 because she believed in the economic power of supply constraints and the potential of bitcoins to counter some abuses of the financial system.

Satoshi writes about the digital currency war with governments:
” Yes [cryptocurrency cannot solve the problem of politics], but we can win a great war in arms and gain a new realm of freedom for many years to come. Governments are adept at destroying centrally managed networks such as Napster, but it looks like peer-to-peer networks such as Tor and Gnutella can protect themselves from the government. »

– Satoshi Nakamoto Mail Archive

8. All or none

Bitcoin is trying to maintain itself. Bitcoin is not supposed to be a secondary form of currency. Like gold, which has played such a role in the financial markets in recent years. Satoshi believes that if Bitcoin succeeds, it will start a new era of money or fail altogether.

He writes about this:

” (In answer to a question) is true. Otherwise, we could not have a limited ceiling of 21 million because production always requires a minimum amount of bonuses. When bonuses are meager, transaction fees will be the main motivation for the nodes. I’m sure that in about 20 years, we will either have an enormous volume of transactions with Bitcoin, or no trace of Bitcoin will remain. »

– BitcoinTalk

9. The future is now

Satoshi, in response to Daniel Larimer, creator of digital currency, Asked about the problems of Bitcoin and the future of this digital currency, he said:

” If you do not believe or understand this, I’m sorry; I do not have time to convince you. »

– Bitcointalk Thread

10. He really did not like to comment on himself

Satoshi did not like to leave his safe; Maybe because he knew what he had created. He once said in response to the registration of the idea of ​​bitcoin in a social network related to technological inventions:

” I’m sorryI’m an outcast. It is challenging for the general public to write a description. There is nothing [similar] to connect. »