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Re:Decoding the Enigma of Satoshi Nakamoto and the Birth of ... by ebbv on Friday May 15, 2015 @10:16AM (#9550700)
Depending on your perspective this profile could seem more or less compelling than the last one, but either way it's nowhere near conclusive. Fortunately unlike the Newsweek article, this one doesn't try to claim it is conclusive.

Personally I do think the creator should be unmasked. This person stands to profit hugely from BitCoin's adoption and continued use. I want to know if they really are doing it for eventual personal financial gain or not. And what kind of person they are, how the massive amount of money they gain will be used. Maybe Satoshi was a secret CIA project all along and the government will use the huge BitCoin stash to fund black ops that we'd rather not have happen. Maybe it was similar but the KGB instead. Maybe it was some lone hacker or group of hackers like Mr. Szabo, and they threw away the keys. Or maybe they didn't throw away the keys but they will just eventually split it up and give the money to their children. There's lots of good and bad possibilities, none of which we know until the identity of Satoshi is revealed.

Personally, I have always been skeptical of BitCoin. There's no reason why it should be the crypto currency. If cryptocurrencies do take off as more than just a toy for libertarians and rich technophiles, then governments will start their own fork and decree that these are the official cryptocurrencies of their nations, and all others are junk. Over night the value of BitCoin will plummet, because the wider population will choose the government backed one.

Re:Decoding the Enigma of Satoshi Nakamoto and the Birth of ... by natrius on Friday May 15, 2015 @10:31AM (#9550820)
Governments all believe that the supply of money must be managed for the sake of the economy. This might be true, but any currency built on this belief will be valued lower than a fixed-supply currency.

It's hard to create and distribute a new currency, and convince people that it's worth something. Bitcoin has done that, and it will be hard for even governments to convince people that there's a better option.

Re:Decoding the Enigma of Satoshi Nakamoto and the Birth of ... by jadeddrag on Friday May 15, 2015 @11:50AM (#9551373)
It is extremely easy for a government to convince people to use their new currency, they already do it just by enforcing tax payments be paid in their local fiat currencies.
Re:Decoding the Enigma of Satoshi Nakamoto and the Birth of ... by Rmilb on Friday May 15, 2015 @12:38PM (#9551765)
That is true for now, however, there are a few bills in some states that are exploring the idea of accepting Bitcoin to pay for State taxes.1

[1] https://bitcoinmagazine.com/19418/bitcoin-friendly-bills-unv...

Re:Decoding the Enigma of Satoshi Nakamoto and the Birth of ... by s73v3r on Friday May 15, 2015 @01:44PM (#9552270)
1. Bills are introduced every session in just about every state for any crazy thing you can think of. And most of them die a quiet death, because they never had a chance to begin with.

2. States don't have their own currencies, so other than the ease of use of US Dollars, they really wouldn't care what you pay your taxes in, so long as they can use it.

Re:Decoding the Enigma of Satoshi Nakamoto and the Birth of ... by fineman on Friday May 15, 2015 @05:10PM (#9553701)
That's true but not very meaningful. Imagine the difference if only US citizens would take USD (and only so much of it) instead of it generally being preferred world-wide.

So yes, a government could set up an e-currency and make us use it, but there's no way a government could (intentionally) set up a currency like bitcoin. Truly algorithmic e-currency is fundamentally incompatible with the concept of governing. Anything by a government would allow reversals, currency injections, invisible transactions, etc.

Re:Decoding the Enigma of Satoshi Nakamoto and the Birth of ... by easytiger on Friday May 15, 2015 @12:11PM (#9551523)
Enforcable because they have the guns
Re:Decoding the Enigma of Satoshi Nakamoto and the Birth of ... by natrius on Friday May 15, 2015 @12:11PM (#9551526)
Give an example. The fiat currencies that people actually save in have a direct lineage from gold, or are linked to such a currency by monetary policy. Tax value alone has never given a new currency stable value.
Re:Decoding the Enigma of Satoshi Nakamoto and the Birth of ... by dragonwriter on Friday May 15, 2015 @12:21PM (#9551610)
> The fiat currencies that people actually save in have a direct lineage from gold

(1) What difference does "direct lineage" have? They aren't gold, and they aren't backed by gold. Unless you arguing that they have sentimental value from a historical association that hasn't been real for generations, this is meaningless.

(2) Also, this is more true of silver than it is of gold. the gold standard was sort of a brief fad (in long-term historical terms) in the final centuries of commodity currency standards as the dominant model, while silver had dominated for a much longer time previously. Pretty much all of the extant currencies that have a "direct lineage from gold" also have a direct lineage from silver, and the ones that aren't themselves relatively new have a much longer history under silver.

Re:Decoding the Enigma of Satoshi Nakamoto and the Birth of ... by natrius on Friday May 15, 2015 @12:31PM (#9551696)
The direct lineage matters because my point was that it's hard to convince people that a new currency is worth something. It's easy if you promise to redeem it for something people already value.
Re:Decoding the Enigma of Satoshi Nakamoto and the Birth of ... by snowwrestler on Friday May 15, 2015 @03:26PM (#9553032)
What lineage from gold does the euro have?
Re:Decoding the Enigma of Satoshi Nakamoto and the Birth of ... by ebbv on Friday May 15, 2015 @10:35AM (#9550859)
> It's hard to create and distribute a new currency, and convince people that it's worth something.

I don't buy this premise. Lots of online games have also done this. They do this by finding a target audience and hooking them in, and then saying "If you want more you have to pay."

BitCoin just targeted libertarians. People have made other BitCoin forks for other audiences. Granted none of them took off like BitCoin, but that's because they were all pretty much jokes targeted at a small niche.

Re:Decoding the Enigma of Satoshi Nakamoto and the Birth of ... by natrius on Friday May 15, 2015 @10:46AM (#9550957)
Bitcoin's political alignments are a distraction and I encourage you to ignore them if your goal is to understand what's happening in the world.

No one buys game currencies to hold. They buy them to spend. If you don't understand why people are excited about Bitcoin, you should go find out. It's a trustless database in the sky, and that sort of thing wasn't possible before 2009. New technologies make old analogies misleading.

Re:Decoding the Enigma of Satoshi Nakamoto and the Birth of ... by jbooth on Friday May 15, 2015 @10:50AM (#9550984)
"No one buys game currencies to hold. They buy them to spend."

Ironically, this means that the game currencies are much closer to functioning as an actual currency than bitcoin.

Re:Decoding the Enigma of Satoshi Nakamoto and the Birth of ... by ebbv on Friday May 15, 2015 @12:12PM (#9551541)
> No one buys game currencies to hold.

This is actually not true. But I'm not going to get into it since you don't think BitCoin's political alignments are relevant, and you are talking down to me at the same time.

Re:Decoding the Enigma of Satoshi Nakamoto and the Birth of ... by natrius on Friday May 15, 2015 @12:48PM (#9551843)
I'm really not trying to talk down to you. I think this stuff is fascinating, and I want you to keep an open mind so you can share in my fascination.
Re:Decoding the Enigma of Satoshi Nakamoto and the Birth of ... by vbezhenar on Friday May 15, 2015 @10:22AM (#9550753)
Those who trust their governments already use government-issued money. Nothing will change. Bitcoin made for those who don't think that government should be able to control money.
Re:Decoding the Enigma of Satoshi Nakamoto and the Birth of ... by ebbv on Friday May 15, 2015 @10:32AM (#9550834)
I realize that's who made it and initially adopted it and currently uses it. But lots of BitCoin fans talk about it being adopted more universally. Which is what I was referring to being unlikely.
Re:Decoding the Enigma of Satoshi Nakamoto and the Birth of ... by tablewatcher on Friday May 15, 2015 @12:52PM (#9551870)
There is no way back to fiat from cryptoCurrencies. They work 24/7 with minimal overheads. Technology has disintermediated a lot of other industries, why do you think it wont do so for banking (other than your cultural beliefs)?
Re:Decoding the Enigma of Satoshi Nakamoto and the Birth of ... by hullo on Friday May 15, 2015 @11:11AM (#9551113)
While the $200 million worth of bitcoin sited in the article is certainly a lot of money, in a world with at least 1,800 billionaires in it, all open enough to be identified by Forbes, it can't really be called a "massive" amount.
Re:Decoding the Enigma of Satoshi Nakamoto and the Birth of ... by DickingAround on Friday May 15, 2015 @10:37AM (#9550883)
Libertarian junkie here; government don't need a bitcoin clone because if they want to control it then all inventive tech in bitcoin is unnecessary and if they don't want to control it they can just use bitcoin.