Irony of being the creator of path breaking technologies!!
Who is Satoshi Nakamoto?
The truth is, we know little more about the person (or people) behind the #pseudonym then when it first appeared on paper entitled “Bitcoin: A #Peer -to-Peer Electronic Cash.” The document was distributed through #cryptography mailing list back in 2008, and from there the #mystery began.
While we still don’t know who #Nakamoto is, one thing is certain: whoever is behind the nameclearly doesn’t want to be found.
This might lead one to ask the obvious question – why would the person who created the world’s first and most valuable cryptocurrency want their identity concealed?
In this edition of Finding #SatoshiNakamoto , we will discuss some of the possible reasons that the bitcoin creator has decided to keep a low profile.
Avoiding The Wrath Of #BigBanks
Nakamoto once wrote, “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.”
One of the features that make bitcoin and other #digitalcurrencies so unique is that they are payment systems which can function without the need for a central bank. Obviously, this great for people who are looking to cut out the middleman and avoid fees that are often associated with traditional banking.
However, this isn’t such good news for big banks. A new form of technology that could potentially render your #institution obsolete isn’t something most bankers are going to be thrilled about.
Central banks are well-funded institutions run by influential people. It’s possible that Satoshi Nakamoto wanted to avoid any potential fallout that may have resulted from rocking the boat, so to speak.
If Satoshi Nakamoto’s #identity was finally revealed, it’s a pretty good bet that he or she would become an overnight #celebrity . The individual, or group of people, would most certainly be hounded by media and met with a barrage of questions.
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