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Yesterday I was talking about Bitcoin with my girlfriend. Mostly the usual stuff
“why does it have that value?” “How and why was it made?” “How does it work?”
I knew the answers to these questions, but one thing I didn’t really know.
She asked me “what it it’s made by someone with bad intentions? That person is now technically the richest person on earth. What if he has bad intentions?”
I admit, I have seen some answers to this, the fact that it doesn’t really matter who created it and what not.
But still… it intrigued me… what if it’s someone with bad intentions?
Any answers to this?
123 sats \ 5 replies \ @DarthCoin 10h
Fork it if you do not like it. It's open source.
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0 sats \ 1 reply \ @Binsky OP 4h
It’s not that I don’t like it. In fact, I love it. But at first, it made sense to ask that question. Upon thinking about it a bit more, it doesn’t really make sense anymore. Thx for replying
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Your question makes sense, because the way bitcoin was build is a trap. It's not fungible and the blockchain is transparent, which makes it unusable as money.
Bitcoin being open source doesn't change the fact that it's lacking in privacy and being fungible. So the question is valid.
100 sats \ 3 replies \ @Scoresby 7h
As @DarthCoin says, it's open source. where are the bad intentions hidden?
It's also voluntary; nobody has to use it.
What could be the bad intentions here?
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It's traceable.
The first question is, "What could actually be this evil person's bad intentions, and how would they achieve them by just owning many Bitcoins?"
Then the next thing to ask is, "Has anyone ever once considered the personality of the individual who invented electricity? How about the young brothers who flew the first aeroplanes, and a host of other incredible inventions that have changed and improved human life?
How many times have we worried about their personalities? But humans have been using their inventions to improve our lives for several years now. Satoshi gave the world an incredible solution to the money problem that has forever plagued the human race through wars and chaos funded by the fiat standard. I bet the least thing to be worried about is who he is.
The beautiful thing about Bitcoin is that Satoshi does not have control over the core Bitcoin protocol anymore. So even if he's some daredevil, he's as neutral as anyone who chooses to own Bitcoin today and in years to come.
His stash of Bitcoins also doesn't necessarily change anything, cos there are people who are way richer than he is. So, we could as well assume that these rich folks might have bad future intentions for the amount of wealth they control?
Satoshi's Bitcoin stash is also as good as useless because, except that he has now chosen to reveal himself, he would hardly be able to spend his Bitcoins without drawing such massive attention that it would possibly help reveal who he is.
An Unpopular Opinion:
I personally do hope that Satoshi reveals himself someday. The concerns about the possibility that he's some evil person have placed a weird gag on the adoption of Bitcoin. I would hope that he reveals himself so that Bitcoin will stand on its own without the fear of some possible evil person being behind it. Albeit this does not matter now to the average person who has an in-depth understanding of what Bitcoin is, it has some subtle effect on the rate of Bitcoin adoption. So, I'd love that wave of uncertainty and doubt to be overcome by Bitcoin (cos I know it will overcome it). When Bitcoin eventually survives the shock that'd come with the reveal, no matter the personality of the creator, then it'd become completely undisputable, and would rapidly become the world's accepted money standard
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“why does it have that value?” “How and why was it made?” “How does it work?”
It was actually invented as a peaceful revolution against the people with evil intentions.
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Maybe I’ve stated the question a bit wrong. But also, in the end it doesn’t really matter. Because whoever Satoshi is, he couldn’t have predicted the future value of his invention. If 1 Bitcoin were to be valued at $10, that question would have been invalid anyways. Thanks for all responses everyone.
✌🏻
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