Bitcoin is a cryptocurrency and a payment system:3 invented by an unidentified programmer, or group of programmers, under the name of Satoshi Nakamoto. Bitcoin was introduced on 31 October 2008 to a cryptography mailing list, and released as open-source software in 2009.
In 2008–2009 a person or persons under the name Satoshi Nakamoto released a bombshell unto the world disguised as an innocent attempt to make a robust digital money system:
I’m sure that in 20 years there will either be very large (bitcoin) transaction volume or no volume.
“Satoshi” continued to work on bitcoin until legend has it, he disappeared moving on to better things (Mike Hearn was the whiny rage quitter that admitted him and Gavin couldn’t get bitcoin to do what they alleged it was supposed to do):
He communicated with a few of the core developers before leaving. He told myself and Gavin that he had moved on to other things and that the project was in good hands.
Since then, 8 years later, bitcoin is a phenomenon that is gain rapidly on the USD, and yet no one has been able to definitely prove who is responsible for the project. It is an AMAZING but necessary feat of deception.
Who is Satoshi, Where is He, and Does Anyone Care?
In early 2014, Leah McGrath cared, and felt people would too when she tried to peg the moniker on a person named Dorian Satoshi Nakamoto in a Newsweek article.
People knowledgeable about bitcoin didn’t believe this possibility from the start as it is wholly implied that Satoshi Nakamoto is not a real name. People who understand bitcoin well, take it very seriously and understand how risky it would be to propose an internet money the governments can’t control or shut down.
Regardless the news story was deemed fake, but the media circus was said to have destroyed Dorian’s life:
More recently, Craig Wright implicated himself as Satoshi in some bizarre twist of the bitcoin Saga, and went on major media stations to announce he would prove he was Satoshi because he wanted everyone to leave him alone.
He did this in tandem with a few members of the community who also claimed that Wright is Satoshi. The problem is Wright claimed he would prove this by moving Satoshi’s coins. Gavin Andresen said he can confirm Wright has Satoshi’s keys, but neither of these points actually PROVE Wright is Satoshi.
Furthermore, Wright never did go through with his bluff. No Satoshi coins were moved.
Enter: The Satoshi Complex
Here we start to understand how an irrational perspective is being held up by the general community. The claim of this group who hold Wright as Satoshi, is sort of simultaneously suggesting that he was working with a group that created bitcoin, implying that there are some people, perhaps 4 or 5, that are ‘in the know’.
One such person claimed, and I can’t find this claim, but @bitcoinbelle will back me up, that they MET Satoshi many years ago, and that on 2nd thought it WAS Craig Wright. The story is Wright asked him to participate in a project, and when asked how he will identify Craig, Craig said, “Satoshi Nakamoto”.
So it’s alleged the person responsible for the most disruptive technology our government and banking industry will ever see, who NO ONE can find or prove exists, was walking around giving out his cover name well before bitcoin was birthed.
The complex REALLY shows through when one person is claiming to be Satoshi, while simultaneously implying that Satoshi is really a group effort, and each of these people, who claim Wright is Satoshi, also are perpetrators of this paradoxical admission.
How Magic Works: Untying the Gordian Knot
Change can come at a stroke, like when Alexander cut the Gordian knot, or it can come in a gradual fashion, through many smaller steps, and this latter can be classed as the pathway of “evolutionary change”.~Ideal Money
In order to reveal a trick (or create one), we need to remember how magic tricks work. They do so not just by deception but by purposefully getting the audience to focus in the wholly wrong direction. And since everyone is stuck with the Satoshi complex paradigm, we need to make what would appear to be a leap of logic in order to remove the complex.
We need to stop asking “Who is Satoshi?” because it’s an irrational question.
Anyone intelligent enough to build and bootstrap bitcoin would have consulted other experts related to the project. And so the true story is going to involve not one person being responsible for it. We might re-frame the question “Who are those responsible for bitcoin, and how did it come about?”
In order to understand, we have to look in a completely different direction, so prepare for the jump…
What are the MACROeconomic Implications of Bitcoin
To be clear, in case my words fail, we want to think about bitcoin’s implied relation to the current existing money systems in this world. And if your only understanding is something akin to something that sounds like “hyperbitcoinization” then I probably suspect you have never read a book on macroeconomics (which includes The Wealth of Nations).
Hyperbitcoinization, or in other words bitcoin gets so popular that all other fiat goes into a death spiral of hyper-inflation, is NOT a proper consideration of the macroeconomic implications of bitcoin.
In order to understand the PROPER considerations (and here is our leap of logic), we need to consider bitcoin’s evolution as digital gold rather than coffee money. Bitcoin as a coffee money is something that all of the experts that work on bitcoin’s implementation agree is a difficult if not impossible endeavor. We CAN’T scale it for that many users and transactions without a security trade-off. And a security trade-off would put the project in jeopardy.
HOWEVER, bitcoin CAN scale as a digital gold, but only in a certain sense, that those that do not understand anything about macroeconomics wholly miss.
There are three men in this world, who were each doing work and have PROOF of this work, in regard to an e-currency that might function similar to gold. Nick Szabo, Hal Finney, and John Nash. These 3 men each put forth good arguments for bitcoin’s utility as a digital gold rather than a coffee money.
I would argue that if Satoshi was wise (and it is assumed he is) he would have consulted with at least one them. And probably not many more than the three of them.
I am speaking about a research project that is not fully complete since I have not yet written up and submitted for publication any paper or papers describing the work. Also the details of what axioms to use and how to select the basic set theory underlying the hierarchical extension to be constructed are not fully crystallized. I have also a great fear of possible error in studying topics in this area. It is not rare, historically, for systems to be proposed that are either inconsistent or that have unexpected weaknesses. So I feel that I must be cautious and proceed without rushing to a goal. And this psychology of fear has also inhibited me from consulting other persons expert in logic before I could feel that I had gotten my own ideas into good shape.~Memo from John Nash’s homepage
Satoshi understood the implications of bitcoin as a gold too because no one would say this about gold before bitcoin existed since everyone believes gold’s value comes from special properties that go unnoticed and misunderstood with bitcoin:
The price of any commodity tends to gravitate toward the production cost.”
The average total coins generated across the network per day stays the same. Faster machines just get a larger share than slower machines. If everyone bought faster machines, they wouldn’t get more coins than before.
Bitcoin has an artificial throttle on its supply, which many believe makes it DIFFERENT than gold, and in many ways it is different, but if we consider the natural throttle on gold, and the macroeconomic implications of the throttle on bitcoin and gold’s supply, we can see that they are effectively the same:
It is a coincidental fact that the inherent nature of mining and mining technology makes it possible for the prices of certain commodities that are produced as a result of the devotion of labor and capital to the effort of mining to increase less (or decrease more) than might be expected. There is a “dimension paradox”: Agricultural products are produced by using the two-dimensional resource of the earth surface, so the “disappearing frontier” creates a limitation. In contrast, some mining, particularly for elemental metals, can essentially be done in three dimensions, although, of course, there are increasing costs for deep digging. So, really there is lots and lots of gold, silver, platinum, tungsten, and so forth out there and more can be found by digging deeper.~John Nash, Ideal Money
From this perspective Satoshi was an alchemist who figured out how to create gold out of math.
Where the Satoshi complex comes from, is that the vast majority of the bitcoin community has no idea how to consider bitcoin in regard to our global economy. They are lead by Roger Ver (who has never read a book on economics in his life), who is trying to suggest that a new money thrown into society will be useful.
There is only one way to perpetuate this irrational view which is to suggest that bitcoin has been hijacked from Satoshi’s original vision. But Satoshi was clearly smart enough to understand the political ramifications of bitcoin, or rather, if we can be allowed to remove the ‘Satoshi Complex’, the person or persons BEHIND the bitcoin project knew about the political ramifications. And so what is clear from this perspective is that “Satoshi” as a device, character, or pseudonym, was separated from the politics that could be associated with it.
The TRUTH is, Satoshi left without a clear political view on the macroeconomic implications of bitcoin. And this is how the complex was birthed because many players wholly ignorant to macroeconomics are desperately trying to sift through Satoshi’s footprints to find the implications.
But (removing the complex again), whoever was responsible for the project, CLEARLY, used “magic” or misdirection, in order to make sure that such evidence NEVER existed. It’s an irrational endeavor. You will NEVER find the political and macroeconomic implication in the bitcoin.pdf whitepaper Satoshi wrote OR any of the communications Satoshi had.
To look for them is to believe in magic, and to be completely bamboozled.