10 Emblematic Satoshi Nakamoto Quotes: Creator of Btc

"Leaving for New Things"

     What and where did Satoshi leave? This is a mystery... there is speculation that the creator of Bitcoin will only appear again when the world governments claim to have the need to use Btc as an essentially used asset.

     This is still far from happening, although El Salvador is the first country to use bitcoin as an official currency, what we most expect is that world powers will start using it. Although we cannot rule out that a country adopting this "speculative currency" as they say, is already a big step.

     As Neil Armostrong said when stepping on the moon: "one small step for man and one giant leap for humanity". After that, humanity has grown a lot in hundreds of technological aspects.

"We are working hard on improvements for the next version release. Martti has added some cool features to make it more user-friendly and easier to run in the background."

     An interesting case that few know is that Satoshi Nakamoto did have help to develop Bitcoin, especially when it comes to improvements. In the case of this quoted sentence, it was in 2009 and today, there is an entire community that works with the innovation of the network...

     Essentially in secondary layers like the so-called Lightning Network.

"When bitcoin software establishes a connection with a peer, it causes the client to send the handshake string. My reasons for doing this are anonymity, of course. It's very easy for ISPs to scan ports on clients and detect that they are running this program."

     Satoshi has always defended the idea of anonymity and freedom, after all, this is precisely one of the biggest reasons for its creation, however, what few people know is that on the Bitcoin blockchain (and many other cryptocurrencies), all transactions are recorded.

     Not to mention that all transactions are public, everyone knows who sent and who received it - much more transparent than the traditional financial system, where governments print Dollars and dollars without thinking about the consequences of inflation subsequently generated, because the more Money you print: minus it has value.

     This is another plus point for Btc: there will only be 21 million units, after that, nothing more will be mined! Much scarcer than gold.

"Lost coins just make everyone else's coins worth a little more. Think of it as a donation to everyone."

     We just said that there won't be Bitcoin for everyone, that's a fact! And look at the most interesting thing of all: many keys with wallets full of btc have already been lost!

     This is said a lot 10 years ago when Bitcoin was a speculative asset: very few people believed that this Crypto could have the value it has today, mainly because it was often "given" as a reward for users reading articles on websites, so they barely kept their keys, as "Earning Bitcoin" was very easy at the time.

     With this we know that this makes btc even more scarce!

"I'm working on a new fully peer-to-peer ATM system with no trusted third parties."

     This Satoshi Quote marks the beginning of it all: an idea of Money that is transferable worldwide and without intermediaries! Totally decentralized and free, with no governments looking where to transfer to.

"These coins can never be recovered and the total circulation is less. As the effective circulation is reduced, all the remaining coins are worth a little more. It's the opposite of when a government prints money and the value of existing money goes down."

     The famous inflation: the more money there is in circulation, the less purchasing power it will have. Bitcoin emerged shortly after the 2008 US housing bubble. Many countries suffered greatly from this crisis, including European countries whose state currencies are the euro and pound.

     Bitcoin is much more valuable than fiat coins, and it is nowhere near reaching its maximum value. This will only happen around the year 2140 when the last Satoshi is mined.

"Fortunately, so far, all the issues raised have been things I've considered and planned for beforehand."

     A brilliant mind! Every detail calculated to the millimeter before publishing your final version!

     Remembering that all these phrases that we are quoting here in this content, you can check them and many others here at Satoshi Nakamoto Institute.

"The average total number of coins generated on the network per day remains the same. Faster machines just get a bigger share than slower machines. If everyone bought faster machines, they wouldn't get more coins than before."

     A very interesting point about this sentence is with regard to Bitcoin Mining! After all, nowadays it is very difficult to Mine Bitcoin at Home because it demands extremely strong computing power from your PC (essentially on the graphics card), not to mention the energy costs.

     The increasingly difficult and competitive mining makes the btc network stronger and more stable, making it virtually impossible to hack. Next, Satoshi says:

     "We should have a gentlemen's agreement to delay the GPU arms race as long as we can for the good of the network. It's much easier to upgrade new users if they don't have to worry about GPU drivers and compatibility. It's cool as anyone with just a CPU can compete fairly now."

"Natural deflation"... I like that name. Yes, there will be natural deflation due to payment errors and data loss. Currency creation will eventually slow enough to be outpaced by natural deflation and we will have net deflation."

     This is very nice to read, after all, how many currencies do you know that are capable of generating long-term deflation? Even more a currency that is not centralized? That does not exist! At least, not until 2009.

     At the beginning of mining, the reward per mined block was very high, nowadays, very low!

     And what will it be like 50 years from now? Smaller still! With each Halving that happens in Bitcoin, it makes the asset appreciate a lot, after all, the rewards of the miners decrease and makes the cryptocurrency even more scarce.