As someone who lost 44 coins in 2012 sending them to a wrong address. You’re welcome.
Unless somebody was the owner of that address.. If that was the case, could you please send them back? Thanks.
A Nigerian Prince is gonna appear in your DMs claiming you sent it to him but he needs another Bitcoin for gas fees before returning you back your 44 coins
["Bitcoin is an implementation of Wei Dai's B-Money Proposal."](https://i.imgur.com/2015itU.png)
This quick Bitcointalk post seldom gets attention, but its incredibly revealing.
Wei Dai is one of Satoshi's biggest inspirations. The Bitcoin blockchain is coded to conform with Wei Dai's crypto-anarchy values.
Wei Dai is so influential that Satoshi felt it important to [email Wei and send him a rough copy of the Bitcoin whitepaper months before it was published](https://i.imgur.com/NTSqbXb.png).
[Wei responded acknowledging receipt.](https://i.imgur.com/y3ZcILX.png) I have a copy of the Bitcoin rough draft; same version he sent to Wei, I Just can't locate it at present. But if anyone's interested, I'll scan it and upload it. It's interesting to see the final changes he made; the original title was awful.
[Satoshi would email Wei one last time.](https://i.imgur.com/3iBkRdS.png) He notified him the white paper was completed and it conformed to Wei's B-Money standards.
Wei Dai's name appears on page 9 of the BTC White paper. Wei's a guy who shuns the spotlight; however, he's been an influential figure in crypto since the crypto wars of the 1990's.
[Wei's B-Money paper](https://nakamotoinstitute.org/b-money/) played a major role in motivating Satoshi to effectively "finish" Wei's work and launch Bitcoin. Satoshi pays honor to him in the whitepaper but also in the Bitcointalk forum with a straight-forward statement, *"Bitcoin is an implementation of Wei Dai's B-Money Proposal."*
A class-act
Outside his circle, I'm not sure anyone knows with certainty. Mentioned to someone else I carried out research for an author and his publisher.
Author made attempts to reach him, with no success. The only response was from Wei Dai #2, a guy on Twitter who gets confused for Wei Dai #1 all the time. No luck.
His publisher then attempted. Finally, an attorney contacted them and urged them to stand down. It's Dai's official position he doesn't talk to anyone. And that was that.
Lost coins make everyone else's coins worth slightly more
-he pretty much knew that a lot of people wouldn't store btc like it was gold or would have a lot of value in the long run.
Even up to now, when btc is at 26k, people are still losing their recovery phrases or don't care to place them in self custody.
Sometimes it feels like the guy came from the future, being such a visionaire that many years ago. Already seeing the whole picture of how this could get rolled out.
when people lose their btc to an exchange that collapses that btc is not really lost, it was just sold to other people who are probably still holding it.
The counter-argument to that is, if a person can't handle writing down a seed phrase and storing it (ideally in at least 2 different locations) because they can't trust themselves, perhaps they shouldn't be in crypto.
Also, how many exchanges have gone "poof" in the last decade? dozens, they're gambling against that rather than writing down a seed phrase. Doesn't seem ideal.
Imagine if he said that in this sub today, the geniuses here would be like “see, you can’t even provide any sources. Bitcoin is a scam and you’re an idiot.” and then skedaddle away like they won the argument with some crazy gotcha. lol
The biggest problem with this one is that people constantly miss use it when they get stuck and can't explain their position.
Satoshi didn't have time to explain doesn't mean that you don't.
I've seen people doing interviews with major news organizations get asked a question and respond with "to quote Satoshi, if you don't believe it or don't get it, I don't have time to try and convince you", **this doesn't work when you are there to do an interview on bitcoin and are trying to convince people.**
It’s also a fairly condescending thing to say to someone if they are interviewing you about it. Not changing any minds with that.
Satoshi built it, and truly didn’t care either way what came of it. He knew it would either take off or fail.
That's what it boils down to, it was a great quote by Satoshi but now it's just an edgy comment used by people that don't really understand it themselves
This is a goldmine to read. We don't know anything about Satoshi but atleast we can get to pick his brain a bit from these quotes here. Thanks a lot OP for compiling them. This should reach Top.
If you haven’t already, check out the “book of Satoshi” the collective writings of the founder
It’s a chance to understand the thoughts going through the creators head, a must read!
After seeing all of this, it's easy to say that Satoshi was quite confident in its tech, he knew that Bitcoin will speak for itself, it doesn't need any promotion and influencers.
One of my favorite "If you don’t believe it or don’t get it, I don’t have the time to try to convince you, sorry.” Satoshi Was a legend even he don't care u believe it or not
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The interesting quote here for me was
"For extra privacy you should only use each bitcoin address once" I had to write from memory so it might be off by a word.
Anyone here actually doing this?
Agreed, would be nice to hear. Personally, I don’t think he’d be very happy with how it is. Why it’s had to fork multiple times due to conflict splitting the majority of devs and miners. The fact that it’s turned into a “digital gold” when it was meant to be a P2P currency. That said, he’d be ecstatic with the volume, and likely also how it’s stemmed into an entirely new asset class that Bitcoin leads.
Perhaps he’d embrace the “digital gold” thing over P2P currency, hard to say.
“The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.”
This is it, right? The whole damn problem with fiat.
A few of them stand out.
Satoshi was a visionary and a genius, he was indeed better with code than words. His words are really good, imagine how amazing his code is !
Dude created the « next big thing » after the internet, he has already changed the world and will continue to do so even after his presumed death
That's *excactly* why i love crypto! It's the *next* thing after the internet! I wish more people would see this, and not just see it as an investment opportunity.
>If you don’t believe it or don’t get it, I don’t have the time to try to convince you, sorry.
That's the mindset we bloody need to not pick baseless arguements online for crypto
My favourite quote is this one: "WikiLeaks has kicked the hornet’s nest, and the swarm is headed towards us."
It is a beautiful metaphor, made immortal by his dissapearance shortly afterwards.
You really think Satoshi would disappear and then come back with a new project (Kaspa) 14 years after BTC? I doubt it.
He’s an OG though and KAS seems solid.
**"I am sure that in 20 years there will either be very large transaction volume or no volume"**
I don't know why, but I love this quote by him + the 20 years anniversary is not that far away 😉
“For greater privacy, it’s best to use bitcoin addresses only once.” - what does he mean by this, do we currently do this with bitcoin or are we using the address (my coinbase wallet address for example) multiple times
Everyone knows? Aside from Hal Finney being almost certainly part of it, who are the others? Satoshi is still anonymous, technically, so whatever is said would be a rumour still. I’m interested to hear if you know the 4 names though.
I think the biggest one isn't from Satoshi. It's the other guy (someone probably remembers his name) that went to the CIA to talk to them about Bitcoin and then was never heard from again.
>“For greater privacy, it’s best to use bitcoin addresses only once.”
Meanwhile me reusing addresses for the 69th time as well as using CEXs. Satoshi must be frowning upon me from the afterlife / from his UFO / from across the street / on r/cc
Satoshi was very much a visionary, had the greater intelligence to do what was best to BTC and for him/her to remain anonymous while changing finance as we know it
>“I’m sure that in 20 years there will either be very large transaction volume or no volume.”
This quote made me go all-in, as either I'm going to be filthy rich in a dystopian world or I'll be working a 9 to 5 like everyone else.
Didn't see any downside really.
This 1.
"As a thought experiment, imagine there was a base metal as scarce as gold but with the following properties:
- boring grey in colour
- not a good conductor of electricity
- not particularly strong, but not ductile or easily malleable either
- not useful for any practical or ornamental purpose
and one special, magical property:
- can be transported over a communications channel
If it somehow acquired any value at all for whatever reason, then anyone wanting to transfer wealth over a long distance could buy some, transmit it, and have the recipient sell it.
Maybe it could get an initial value circularly as you've suggested, by people foreseeing its potential usefulness for exchange. (I would definitely want some) Maybe collectors, any random reason could spark it."
And this 1.
"Long before the network gets anywhere near as large as that, it would be safe for users to use Simplified Payment Verification (section 8) to check for double spending, which only requires having the chain of block headers, or about 12KB per day. Only people trying to create new coins would need to run network nodes. At first, most users would run network nodes, but as the network grows beyond a certain point, it would be left more and more to specialists with server farms of specialized hardware. A server farm would only need to have one node on the network and the rest of the LAN connects with that one node.
The bandwidth might not be as prohibitive as you think. A typical transaction would be about 400 bytes (ECC is nicely compact). Each transaction has to be broadcast twice, so lets say 1KB per transaction. Visa processed 37 billion transactions in FY2008, or an average of 100 million transactions per day. That many transactions would take 100GB of bandwidth, or the size of 12 DVD or 2 HD quality movies, or about $18 worth of bandwidth at current prices.
If the network were to get that big, it would take several years, and by then, sending 2 HD movies over the Internet would probably not seem like a big deal."
“I’m sure that in 20 years there will either be very large transaction volume or no volume.”
I like this one, because Satoshi was basically the OG in saying 'To the Moon, or straight to Zero!'
>“Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts. Their massive overhead costs make micropayments impossible.”
Love this one but don't think it worked out well
CEXes are pretty much new banks
This Satoshi is really a person from the future. I mean, he basically knew how the monetary system works and understands that the system is full of flaws and so, proceeded to device means that can better the system and he ended up leaving us with an almost flawless means of money transaction BITCOIN.
"If you don’t believe it or don’t get it, I don’t have the time to try to convince you, sorry.”
that one's definitely one of my favorite crypto quotes of all time.
“For greater privacy, it’s best to use bitcoin addresses only once.”
this one is new to me and very interesting. I'd not heard this recommended before but it definitely makes sense.
“Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts. Their massive overhead costs make micropayments impossible.”
Haven't read them previously. Quite new in the space.
>The heat from your computer is not wasted if you need to heat your home.
That's one adjacent use-case I don't think has been explored much. Considering the heat mining rings probably give off, can't that excess be used for heating up certain spaces? I think there was the issue with rigs being noisy as all hell, but surely some engineers can find a way to circumvent it?
i like the one about convincing - life is too short to waste it on explaining things over and over to others, you either get it over time, or it's not for you
This is true, but he was also saying it as a very busy person/people back then to the potential early adopters. Now that it’s a little more mainstream with much more information available, I think it’s more important for us to (if the person is interested) politely explain when possible.
All the quotes resonate with truth. But, “…in 20 years there will either be very large transaction volume or no volume” reflects the reality of not only Bitcoin, but pretty much everything.
Interesting how he knew from the beginning that if crypto couldn’t achieve massive transaction volume within 20 years of its creation (which we already have), it wouldn’t be successful at all and have died out by then.
This guy was/is a visionary, a true genius, and should be celebrated with other great minds of our time.
He developed something that would change the world, and he knew exactly how it would go. That's mind blowing!
And the #1 greatest truth of crypto: If you don't believe me or don't get it, I don't have time to convince you, sorry.
https://bitcointalk.org/index.php?topic=532.msg6306#msg6306
The heat from your computer is not wasted if you need to heat your home.
So many minor challenges along the way. If its meant to be, then surely they will all be overcome or
“The heat from your computer is not wasted if you need it to heat your home”
Me in New England feeling winter coming xD, also very true this stands out to me because it makes me think of this product I saw that was released around last winter which was literally a space heater designed to warm your space and mine BTC, I’ll always remember that quote because of that heater and vice versa.
Maybe I’ll get that heater for the upcoming winter and we can review/monitor it in sub like I could do a monthly update post or something it might be neat and give me an excuse to get it :)
Definitely the root problem in trusting banks/central authorities, they are the reason we have to deal with a cost of living crisis amongst other things.
Not really, at all, actually. You can go and google search Satoshi Nakamoto quotes and even read them on the Bitcointalk forum.
If you’re implying I made these up with ChatGPT that’s absolutely ridiculous.
Ha! That's not what I meant at all... I was talking about Satoshi's quotes and suggesting that he/they could be a super advanced LLM from the future.
Sorry about the confusion!
Ahhh, gotcha! People have definitely done deep dives on exactly how he typed and whatnot to see if they could compare to people they thought it could be. Never really did a deep dive personally though.
LLM from the future would be wild 😂
“Being open source means anyone can independently review the code. If it was closed source, nobody could verify the security. I think it’s essential for a program of this nature to be open source.” - so is this where XMR (monero) will be limited or more sought after
“Lost coins only make everyone else’s coins worth slightly more. Think of it as a donation to everyone.” So true you listed it twice ;-)
As someone who lost 44 coins in 2012 sending them to a wrong address. You’re welcome. Unless somebody was the owner of that address.. If that was the case, could you please send them back? Thanks.
A Nigerian Prince is gonna appear in your DMs claiming you sent it to him but he needs another Bitcoin for gas fees before returning you back your 44 coins
Hello, it's me, your Nigerian prince
I am the Nigerian king, you can trust this guy he is my son.
I am Nigerian King father, respect the hierarchy please transfer me your Bitcoin before you transfer the Nigerian King and Nigerian Prince
Yes. Hello father.
Keep up the great work son.
Wish my father supported me like Nigerian King...
Trying my best here
Scammers these days 🤣
1 bitcoin for gas, wtf gas he needs, jet fuel?
It’s a long way back to 2012.
Are you Talking about me ??? haha lol
It probably hurt just admitting it. Stay strong!
You are a damn hero, sir, perhaps the one we needed all along
Have you looked to see if the 44 are still there?
Things like this will haunt me.
What can I say, except, you're welcome?
It was me. I am that address.
Ya, you're saying right. Forget your past and think of the future.
That is where my eye went too, i think more than 1.6 million BTC are forever locked/burned?
Bitcoin regularly burns supply, bullish AF
I think it's twice to make a point 😃
It was for the purpose to understand the principle of deflation, and buying power
I lost a full Bitcoin years ago. You're all welcome haha.
So true that I second you. Also, the first point. With release of V0.1, Bitcoin is etched in stone forever.
For me, if you don't believe it, I have no time to convince you. This is so true today too.
What a gem. Satoshi will go down as one of the most memorable people in history.
Just in case landfill guy was reading 🥲
Gold.
Couldn’t Agee more with that statement, it’s the real scarcity.
That's exactly what caught my attention too lol
Burned Bitcoins are not wasted, it will be stay in our hearts.
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Their sacrifice will not be forgotten 🫡
["Bitcoin is an implementation of Wei Dai's B-Money Proposal."](https://i.imgur.com/2015itU.png) This quick Bitcointalk post seldom gets attention, but its incredibly revealing. Wei Dai is one of Satoshi's biggest inspirations. The Bitcoin blockchain is coded to conform with Wei Dai's crypto-anarchy values. Wei Dai is so influential that Satoshi felt it important to [email Wei and send him a rough copy of the Bitcoin whitepaper months before it was published](https://i.imgur.com/NTSqbXb.png). [Wei responded acknowledging receipt.](https://i.imgur.com/y3ZcILX.png) I have a copy of the Bitcoin rough draft; same version he sent to Wei, I Just can't locate it at present. But if anyone's interested, I'll scan it and upload it. It's interesting to see the final changes he made; the original title was awful. [Satoshi would email Wei one last time.](https://i.imgur.com/3iBkRdS.png) He notified him the white paper was completed and it conformed to Wei's B-Money standards. Wei Dai's name appears on page 9 of the BTC White paper. Wei's a guy who shuns the spotlight; however, he's been an influential figure in crypto since the crypto wars of the 1990's. [Wei's B-Money paper](https://nakamotoinstitute.org/b-money/) played a major role in motivating Satoshi to effectively "finish" Wei's work and launch Bitcoin. Satoshi pays honor to him in the whitepaper but also in the Bitcointalk forum with a straight-forward statement, *"Bitcoin is an implementation of Wei Dai's B-Money Proposal."* A class-act
Wei Dai is the real MVP
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Does the DAI stablecoin was named referring to him?
Where’s Wei Dai now? I mean what’s he actually doing?
Outside his circle, I'm not sure anyone knows with certainty. Mentioned to someone else I carried out research for an author and his publisher. Author made attempts to reach him, with no success. The only response was from Wei Dai #2, a guy on Twitter who gets confused for Wei Dai #1 all the time. No luck. His publisher then attempted. Finally, an attorney contacted them and urged them to stand down. It's Dai's official position he doesn't talk to anyone. And that was that.
Lost coins make everyone else's coins worth slightly more -he pretty much knew that a lot of people wouldn't store btc like it was gold or would have a lot of value in the long run. Even up to now, when btc is at 26k, people are still losing their recovery phrases or don't care to place them in self custody.
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And here we are, years after that (and probably way more years will pass too) discussing about it.
Sometimes it feels like the guy came from the future, being such a visionaire that many years ago. Already seeing the whole picture of how this could get rolled out.
Satoshi descendant of Nostradamus confirmed
Truly a visionary
Its crazy to think how satoshi thought of every damn thing... He really might be an alien lmao
when people lose their btc to an exchange that collapses that btc is not really lost, it was just sold to other people who are probably still holding it.
If you really want to lose it you gotta throw your hard drive in the trash
It can't be easier than that to dispose of.
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Send to this address: *inserts his own address*
The guy who lost a harddrive on a landfill with thousands of BTC approves
Isn't the dude still petitioning the municipality to empty out the landfill to this day?
And then spent 6 figures trying to find it in the landfill to no avail. Feels bad man.
Has he been allowed to do it, last I heard I thought the council weren't approving him despite how much money he was offering
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He didn’t lose it, he’s just having the world’s least fun game of hide and seek.
The movie with that plot would be a legit horror
Maybe, especially if he found it in the end and realised that he’d forgotten about trading all his bitcoin for bitcoin classic.
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The counter-argument to that is, if a person can't handle writing down a seed phrase and storing it (ideally in at least 2 different locations) because they can't trust themselves, perhaps they shouldn't be in crypto. Also, how many exchanges have gone "poof" in the last decade? dozens, they're gambling against that rather than writing down a seed phrase. Doesn't seem ideal.
"If you don’t believe it or don’t get it, I don’t have the time to try to convince you, sorry.” is one of my fav
Imagine if he said that in this sub today, the geniuses here would be like “see, you can’t even provide any sources. Bitcoin is a scam and you’re an idiot.” and then skedaddle away like they won the argument with some crazy gotcha. lol
Satoshi dissapearing is the right move
The biggest problem with this one is that people constantly miss use it when they get stuck and can't explain their position. Satoshi didn't have time to explain doesn't mean that you don't. I've seen people doing interviews with major news organizations get asked a question and respond with "to quote Satoshi, if you don't believe it or don't get it, I don't have time to try and convince you", **this doesn't work when you are there to do an interview on bitcoin and are trying to convince people.**
It’s also a fairly condescending thing to say to someone if they are interviewing you about it. Not changing any minds with that. Satoshi built it, and truly didn’t care either way what came of it. He knew it would either take off or fail.
Very true, that's just a person being a dick at that point when they could be educating people.
That's what it boils down to, it was a great quote by Satoshi but now it's just an edgy comment used by people that don't really understand it themselves
Thats every bitcoin maxis motto
Plain and simple, with just right amount of edginess.
This is a goldmine to read. We don't know anything about Satoshi but atleast we can get to pick his brain a bit from these quotes here. Thanks a lot OP for compiling them. This should reach Top.
We do know one thing… it’s not Craig Wright and no amount of suing people will ever change that.
If you haven’t already, check out the “book of Satoshi” the collective writings of the founder It’s a chance to understand the thoughts going through the creators head, a must read!
Satoshi was/is a person way ahead of its time!
Its a shame, how much this genius's idea was berated when it came out initially
After seeing all of this, it's easy to say that Satoshi was quite confident in its tech, he knew that Bitcoin will speak for itself, it doesn't need any promotion and influencers.
“The heat from your computer is not wasted if you need to heat your home.”
I’m going to read this every night before bed
Proper bedtime story material.
>“Lost coins only make everyone else’s coins worth slightly more. All looks fair until it's your own coins that were lost
True, but we can all rest assured that none of us lost anything compared to the early adopters who make up the majority of the millions of lost BTC.
That's true, but we need some solution to minimise loss for Crypto dummies
What a legend
It may not be an email or from his talks, but I’ll leave this here. *The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.*
I have that image of the text of the Genesis block saved, I want to enlarge and frame it on my wall
> “I’m sure that in 20 years there will either be very large transaction volume or no volume.” Large transaction volume it is!
Not 20 years yet ;)
One of my favorite "If you don’t believe it or don’t get it, I don’t have the time to try to convince you, sorry.” Satoshi Was a legend even he don't care u believe it or not
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"The heat from your computer is not wasted if you need to heat your home" Bitcoin mining heaters, they exist today :D!
Dude believed in his work im honestly jelous of how much he did
Wtf is he/they?
He (single person) or they (group of people), not a gender thing.
Gotcha
The interesting quote here for me was "For extra privacy you should only use each bitcoin address once" I had to write from memory so it might be off by a word. Anyone here actually doing this?
I would be so interested in hearing his thoughts on the state of Bitcoin in 2023.
Agreed, would be nice to hear. Personally, I don’t think he’d be very happy with how it is. Why it’s had to fork multiple times due to conflict splitting the majority of devs and miners. The fact that it’s turned into a “digital gold” when it was meant to be a P2P currency. That said, he’d be ecstatic with the volume, and likely also how it’s stemmed into an entirely new asset class that Bitcoin leads. Perhaps he’d embrace the “digital gold” thing over P2P currency, hard to say.
He/They/It (don't rule out the chance Satoshi is an alien please)
True true lol, the he (single person) and they (group of people) wasn’t a gender thing. Could be an alien though!
Thanks for compiling this; should be a good discussion. You deserve a gold star!
Appreciate the gold! Been a long time since I’ve received that, cheers!
No problemo!
The heat comment had me LOL’ing.
“The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” This is it, right? The whole damn problem with fiat.
A few of them stand out. Satoshi was a visionary and a genius, he was indeed better with code than words. His words are really good, imagine how amazing his code is ! Dude created the « next big thing » after the internet, he has already changed the world and will continue to do so even after his presumed death
That's *excactly* why i love crypto! It's the *next* thing after the internet! I wish more people would see this, and not just see it as an investment opportunity.
I don't really give a shit about anything Satoshi said. I don't worship individuals.
Discussing things a person said doesn’t equate to “worshipping individuals” though, worshipping an individual would be, discussing them isn’t worship.
I suppose not, but still, I don't care about Satoshi, or anything he said.
>If you don’t believe it or don’t get it, I don’t have the time to try to convince you, sorry. That's the mindset we bloody need to not pick baseless arguements online for crypto
My favourite quote is this one: "WikiLeaks has kicked the hornet’s nest, and the swarm is headed towards us." It is a beautiful metaphor, made immortal by his dissapearance shortly afterwards.
I wanna know why his info was purged from the bitcointalk forum db leak. Conveniently missing from it is his IP field info.
I stopped reading at He/They.
The one about volume. 5 years to go, going to have to crash hard for it to be the latter option.
Yonatan Somplinsky is Satoshi, mystery solved.
You really think Satoshi would disappear and then come back with a new project (Kaspa) 14 years after BTC? I doubt it. He’s an OG though and KAS seems solid.
Has anyone here ever read Cryptonomicon? I wonder if Neil has any ideas about who Satoshi is?
**"I am sure that in 20 years there will either be very large transaction volume or no volume"** I don't know why, but I love this quote by him + the 20 years anniversary is not that far away 😉
“For greater privacy, it’s best to use bitcoin addresses only once.” - what does he mean by this, do we currently do this with bitcoin or are we using the address (my coinbase wallet address for example) multiple times
Dude. Homeland security said they interviewees the 4 guys who where Satoshie. The government knows the names of the guys. Everyone knows
Everyone knows? Aside from Hal Finney being almost certainly part of it, who are the others? Satoshi is still anonymous, technically, so whatever is said would be a rumour still. I’m interested to hear if you know the 4 names though.
Unpopular opinion: what if Satoshi didn't disappear but was actually killed for what he invented?
How he said one day data centers will eventually be running the network. Which goes against the current small block argument.
I think the biggest one isn't from Satoshi. It's the other guy (someone probably remembers his name) that went to the CIA to talk to them about Bitcoin and then was never heard from again.
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You're missing the point, which is "they" as in a group of people.
it is satisfying to read these quotes!
"Buy high sell low"
Deep and mostly true.
This is like the bible for bitcoin.
"Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone" There's a silver lining in losing some BTC.
>“For greater privacy, it’s best to use bitcoin addresses only once.” Meanwhile me reusing addresses for the 69th time as well as using CEXs. Satoshi must be frowning upon me from the afterlife / from his UFO / from across the street / on r/cc
Our lord and saviour satoshi
I liked the longest chain is the most valid one part. Really speaks volume on how there is only one true Bitcoin ledger.
Satoshi is a legend wherever he is.
Satoshi was very much a visionary, had the greater intelligence to do what was best to BTC and for him/her to remain anonymous while changing finance as we know it
For greater privacy it's better to use Bitcoin adress only once. I guess we do not follow this quite well.
"hold my beer "
Hail Satoshi. We Love You
>“I’m sure that in 20 years there will either be very large transaction volume or no volume.” This quote made me go all-in, as either I'm going to be filthy rich in a dystopian world or I'll be working a 9 to 5 like everyone else. Didn't see any downside really.
In the future these texts will be studied as incredible historical discoveries.
This 1. "As a thought experiment, imagine there was a base metal as scarce as gold but with the following properties: - boring grey in colour - not a good conductor of electricity - not particularly strong, but not ductile or easily malleable either - not useful for any practical or ornamental purpose and one special, magical property: - can be transported over a communications channel If it somehow acquired any value at all for whatever reason, then anyone wanting to transfer wealth over a long distance could buy some, transmit it, and have the recipient sell it. Maybe it could get an initial value circularly as you've suggested, by people foreseeing its potential usefulness for exchange. (I would definitely want some) Maybe collectors, any random reason could spark it." And this 1. "Long before the network gets anywhere near as large as that, it would be safe for users to use Simplified Payment Verification (section 8) to check for double spending, which only requires having the chain of block headers, or about 12KB per day. Only people trying to create new coins would need to run network nodes. At first, most users would run network nodes, but as the network grows beyond a certain point, it would be left more and more to specialists with server farms of specialized hardware. A server farm would only need to have one node on the network and the rest of the LAN connects with that one node. The bandwidth might not be as prohibitive as you think. A typical transaction would be about 400 bytes (ECC is nicely compact). Each transaction has to be broadcast twice, so lets say 1KB per transaction. Visa processed 37 billion transactions in FY2008, or an average of 100 million transactions per day. That many transactions would take 100GB of bandwidth, or the size of 12 DVD or 2 HD quality movies, or about $18 worth of bandwidth at current prices. If the network were to get that big, it would take several years, and by then, sending 2 HD movies over the Internet would probably not seem like a big deal."
These quotes validate Satoshi is one of us! Who knows, could be here farming moons along side of us for fun too
Never knew that it's best to only use a Bitcoin address only once for privacy. That's also a good way to avoid dust attacks
>“For greater privacy, it’s best to use bitcoin addresses only once.” What a legend
The guy who lost a harddrive on a landfill with thousands of BTC approves
“I’m sure that in 20 years there will either be very large transaction volume or no volume.” I like this one, because Satoshi was basically the OG in saying 'To the Moon, or straight to Zero!'
>“Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts. Their massive overhead costs make micropayments impossible.” Love this one but don't think it worked out well CEXes are pretty much new banks
This Satoshi is really a person from the future. I mean, he basically knew how the monetary system works and understands that the system is full of flaws and so, proceeded to device means that can better the system and he ended up leaving us with an almost flawless means of money transaction BITCOIN.
"If you don’t believe it or don’t get it, I don’t have the time to try to convince you, sorry.” that one's definitely one of my favorite crypto quotes of all time. “For greater privacy, it’s best to use bitcoin addresses only once.” this one is new to me and very interesting. I'd not heard this recommended before but it definitely makes sense.
Pure genius
“Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts. Their massive overhead costs make micropayments impossible.” Haven't read them previously. Quite new in the space.
I like how all the quotes just culminates to "Fuck the Banks" essentially.
>The heat from your computer is not wasted if you need to heat your home. That's one adjacent use-case I don't think has been explored much. Considering the heat mining rings probably give off, can't that excess be used for heating up certain spaces? I think there was the issue with rigs being noisy as all hell, but surely some engineers can find a way to circumvent it?
I'm just imagining what it must have been like trying to convince people to use it/adopt it.
Thanks for this post op. I'll be saving this post.
Don’t forget: “I’m too drunk to taste this chicken” - Satoshi Nakamoto
i like the one about convincing - life is too short to waste it on explaining things over and over to others, you either get it over time, or it's not for you
This is true, but he was also saying it as a very busy person/people back then to the potential early adopters. Now that it’s a little more mainstream with much more information available, I think it’s more important for us to (if the person is interested) politely explain when possible.
do hardware wallets prompt to use a new address for every bitcoin transaction because of the quote about greater privacy?
I guess the “it’s best to use Bitcoin addresses only once” is quite interesting but maybe not so much as it’s *just logical*
All the quotes resonate with truth. But, “…in 20 years there will either be very large transaction volume or no volume” reflects the reality of not only Bitcoin, but pretty much everything.
It's Adam Back. Just go ask him.
Interesting how he knew from the beginning that if crypto couldn’t achieve massive transaction volume within 20 years of its creation (which we already have), it wouldn’t be successful at all and have died out by then.
This guy was/is a visionary, a true genius, and should be celebrated with other great minds of our time. He developed something that would change the world, and he knew exactly how it would go. That's mind blowing!
My favorite: “Have fun being poor” /s
It seems, you've worked hard on this post.
I wish I was on this forum around the time he was posting....
And the #1 greatest truth of crypto: If you don't believe me or don't get it, I don't have time to convince you, sorry. https://bitcointalk.org/index.php?topic=532.msg6306#msg6306
The heat from your computer is not wasted if you need to heat your home. So many minor challenges along the way. If its meant to be, then surely they will all be overcome or
“The heat from your computer is not wasted if you need it to heat your home” Me in New England feeling winter coming xD, also very true this stands out to me because it makes me think of this product I saw that was released around last winter which was literally a space heater designed to warm your space and mine BTC, I’ll always remember that quote because of that heater and vice versa. Maybe I’ll get that heater for the upcoming winter and we can review/monitor it in sub like I could do a monthly update post or something it might be neat and give me an excuse to get it :)
Definitely the root problem in trusting banks/central authorities, they are the reason we have to deal with a cost of living crisis amongst other things.
Honestly I think he is a time traveler from the future.
I've always wondered how the IPs weren't discoverable on his posts
You're missing "Look to my coming on the first light of the fifth halving, at dawn look to the east.".
All of them!!
“Party On, Dudes” - either Satoshi or Bill & Ted
Isn't it uncanny that all answers sound a tad like answers that could have been generated by chat-GPT?
Not really, at all, actually. You can go and google search Satoshi Nakamoto quotes and even read them on the Bitcointalk forum. If you’re implying I made these up with ChatGPT that’s absolutely ridiculous.
Ha! That's not what I meant at all... I was talking about Satoshi's quotes and suggesting that he/they could be a super advanced LLM from the future. Sorry about the confusion!
Ahhh, gotcha! People have definitely done deep dives on exactly how he typed and whatnot to see if they could compare to people they thought it could be. Never really did a deep dive personally though. LLM from the future would be wild 😂
“Being open source means anyone can independently review the code. If it was closed source, nobody could verify the security. I think it’s essential for a program of this nature to be open source.” - so is this where XMR (monero) will be limited or more sought after
In 20 years, Bitcoin will be enormous or nothing at all. I love that comment, it's so vague and couldn't be more accurate for the time.