Bitcoin News

Revealing Satoshi Nakamoto’s Identity Could Be Catastrophic, Please Stop Trying

There is a fascination in the crypto space to find out who Satoshi Nakamoto really is, to reveal his identity and expose him to the public. GenesisBlockNews wishes people would stop trying to expose Satoshi, since it could put him in mortal danger, and cause catastrophic damage to the Bitcoin ecosystem.

Satoshi Nakamoto released the Bitcoin Whitepaper on Halloween 2008, and worked hard as a developer to keep Bitcoin alive during its embryonic years. In December 2010, about 2 years after the birth of Bitcoin, Satoshi Nakamoto disappeared from Bitcointalk, the most popular Bitcoin forum, without saying a word. This was an infamously stealthy exit.

Satoshi put great work into protecting his identity, and this was for 2 primary reasons. First off, Bitcoin is the greatest threat to the USD and the fiat currency paradigm. Fiat currency gives countries most of the power they hold today, since it allows them to print money at will to grow their military and balance their budgets, no matter how much they overspend. This works by stealing value from all the other fiat currency held by citizens.

Bitcoin is a currency that for the first time in history cannot be printed at will, although I did write an article recently on how ‘paper’ Bitcoins are being printed at will by the CME futures exchange, the same people who run COMEX which suppresses the global gold price with paper gold. The government has found a way to ruin the concept of a limited Bitcoin supply and attack the entire crypto space, but that is besides the point I am trying to make. Actual Bitcoins cannot be printed, and therefore for the first time in history we have a currency that cannot be printed or leveraged by governments to balance budgets. This gives people a choice to hold a currency that will retain its value since there is no unfair money printing. This threatens the entire fiat currency paradigm, and therefore the power of the government.

The government does not easily let go of their power, and would do anything to stop Bitcoin, including skewering Satoshi and putting him on parade in front of the public as they drag him through court. Even though Bitcoin is legal in the United States they would find some way of incriminating him, for inventing something that could be used for money laundering and terrorism. It gets worse, there are hundreds of countries in the world, and thousands to millions of states and cities in the world, and any of these could launch an attack on Satoshi if his identity was revealed, especially places that have made Bitcoin illegal.

If an investigator or journalist truly found out who Satoshi was, then he would be at risk of assassination or severe prosecution. It is even more dangerous because Satoshi mined 1 million Bitcoins or more, and still holds them. If Satoshi was discovered, the people who want to attack him could physically force him to give up these Bitcoins. Lets not forget all the criminals who would jump at the opportunity to rob Satoshi. Basically, there is a gauntlet of very dangerous criminals and government officials that would destroy Satoshi if he was discovered. Satoshi knew this, which is why he guarded his identity so closely. Anyone that is trying to discover Satoshi is helping an effort that will God forbid lead to his murder.

Aside from the problems that Satoshi himself will have, the entire Bitcoin market and crypto space would experience a catastrophic price crash if he is discovered. Even though Bitcoin’s daily trading volume is usually in excess of 1 million Bitcoins, around the number of Bitcoins that Satoshi holds, the fundamental price of Bitcoin is definitely being lifted up by Satoshi holding all of those Bitcoins. It could easily knock Bitcoin down a good 50% if all of his Bitcoins were dumped on the open market, it would saturate order books across the world with violent downward pressure. Further, the speculation and frenzy caused by Satoshi selling any of his Bitcoins, let alone all of them, would contribute to an even more drastic price crash.

No true Bitcoiner would want Satoshi to get harmed, after he did so much good for the world by creating Bitcoin, and no true Bitcoiner would want to bring about a violent 50-90% price crash with the news simultaneously reporting the downfall of Satoshi. GenesisBlockNews believes it is time for journalists to stop pretending it is an innocent endeavor to reveal Satoshi; anyone that works to expose Satoshi’s identity should be publicly scolded.

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