Has Satoshi Nakamoto reached ‘God’ status?
Has Satoshi Nakamoto reached ‘god’ status? The dictionary definition (verb) of a god is: to regard or treat as a god; deify; idolize. To a.
Has Satoshi Nakamoto reached ‘god’ status?
The dictionary definition (verb) of a god is: to regard or treat as a god; deify; idolize. To a segment of crypto supporters, Nakamoto has reached this mythical status at a rapid pace.
It is hard not to be intrigued by the story; an anonymous creator who solved an extremely complex cryptography problem; to allow for the creation of digital currency. This same creator who on paper (or blockchain) owns an abundance of Bitcoin that enables him to be among one of the richest people in the world. Even with all this temptation; the creator hasn’t touched a single coin for self-profit from their original wallet. The ethics of Nakamoto’s belief in a decentralised system, combined with not selling out when there have been ample opportunities, really cements him in the minds of many as an aspirational figure.
The following quote from Nakamoto allows us an intriguing insight into his belief of the importance in having no central figure controlling Bitcoin:
“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. 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.”
The posting history of Nakamoto is littered with small quotational gems like the above; which can allow us an understanding of where he believed the Bitcoin project was headed. These excerpts have helped solidify the deification of Nakomoto to the cryptocurrency community as interpretation can be varied in what was left behind. In general, what Nakomoto posted completely aligns with his actions, further giving credence to his strong belief and ethics in a digital revolution.
The belief that Bitcoin has instilled in those that are invested in its ecosystem is immense. Some of the ideas people have used to describe what Bitcoin means to them include: disruption, hope, possibilities, alternatives, rebellion and adrenaline. On the other hand there are people who think of greed, getting rich quick and being liquidated.
The variety of experience in this new frontier is what makes Bitcoin so enticing. In turn this is what makes Nakomoto so revered; his creation is a reflection of the personality of people, and what they have made it.
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Disclaimer: Information is current as at the date of publication. This is general information only and is not intended to be advice. Crypto is volatile, carries risk and the value can go up and down. Past performance is not an indicator of future returns. Please do your own research.
Last updated December 2, 2021