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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 creature created from another dimension. Some even suggest that Satoshi Nakamoto describes the name of a group of people.

Vitalik Butrin, creator of Ethereum, the world’s second-largest digital currency, believes that anonymity has real benefits in a business that has 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 was communicating with the public in text and online to advance his invention, until he disappeared forever on December 11, 2010 after the publication of his last post. You can now go to Satoshi page Read all of Satoshi Nakamoto’s posts on the Bitcointalk.org forum. Isaiah McCall in an article 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

The first block in the Bitcoin blockchain is called the Genesis Block (= Genesis Block). 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 the date. You can download this block from Here See.

10 lasting quotes from Satoshi Nakamoto, creator of Bitcoin

Satoshi founded Bitcoin after the banking crisis of 2008 with the aim of transferring power to the people. To ridicule the banks, as well as to provide proof of when Bitcoin will be available, he posted a clever message on the first bitcoin block:

«[تیتر] Times, January 3, 2009: Chief Treasurer [انگلستان] It is on the verge of a second financial aid to banks.»

10 lasting quotes from Satoshi Nakamoto, creator of Bitcoin

[تیتر] The Times, January 3, 2009: Chief Treasurer [انگلستان] It is on the verge of a second financial aid to banks.

The blockchair

۲. Satoshi issue 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 must be borne by ordinary people.

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

«Many people automatically reject these types of currencies because not all e-currency companies in the 1990s were successful. I hope it is settled 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, distrustful system.»

P2PFoundation

3. Remove intermediaries

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 an interesting talk about eliminating intermediaries:

«With a cryptographic proof-based electronic currency, money can be secure and transactions easy without the need to trust a third-party intermediary.»

Bitcoin minting

4. Copying is prohibited

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

Bitcoin, Classic Ethereum, and Bitcoin Unlimited were the first hard forks 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), its original design will remain unchanged… I think it would never be a good idea to implement a second, adaptable version of bitcoin. Much of the plan depends on all nodes being synchronized with exactly the same results, which would make the second implementation a threat to the network.»

Transactions and Scripts: DUP HASH160… EQUALVERIFY CHECKSIG

5. The root of all evil

10 lasting quotes from Satoshi Nakamoto, creator of Bitcoin

Satoshi is like 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 as well as transfer it electronically, but they store our money in waves of credit bubbles with almost a small amount. [واقعی], Lend. 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 outperform Fiat. 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 supply to maintain value, the amount of supply is predetermined, and it is that 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 and 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

10 lasting quotes from Satoshi Nakamoto, creator of Bitcoin

Satoshi hated corrupt institutions. He knew that Bitcoin would eventually face legislative issues and was even called a “Panzi scheme”; 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. Senator 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 [با رمزنگاری نمی‌توان مشکل با سیاست را حل کرد], But we can win a great war in an arms race and gain a new territory of freedom for many years. Governments are adept at destroying centrally administered networks such as Napster, but it seems that peer-to-peer networks such as Tor and Gnutella can protect themselves from 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 a currency. Like gold, which has played a role in financial markets in recent years. Satoshi believes that if Bitcoin succeeds, it will start a new era of money, or it will fail altogether. He writes about this:

«(In answer to a question) True. Otherwise we could not have a limited ceiling of 21 million, because there is always a need for a minimum of rewards to produce. At a time when bonuses will be very low, transaction fees are the main motivation for [استخراج] It will be nodes. I’m sure that in about 20 years we will either have a very large volume of transactions with Bitcoin or no trace of Bitcoin will remain.»

BitcoinTalk

9. The future is now

“Satoshi responded to Daniel Larimer, the creator of the IAS digital currency, who asked about the problems of Bitcoin and the future of this digital currency:”

«If you do not believe or understand this. 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 sorry, I’m an outcast. It is very difficult for the general audience to write a description. nothing [مشابهی] There is no way to communicate.»

BitcoinTalk

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