[Cryptography] My Identity as Satoshi Nakamoto

[efc at disroot.org]

On Mon, 14 Oct 2024, Peter Fairbrother via cryptography wrote:

> On 14/10/2024 04:11, Satoshi Nakamoto via cryptography wrote:
>> Dear community members,
>> Today, I have decided to reveal my identity as Satoshi Nakamoto, the
>> creator of Bitcoin. From the beginning, my goal was to create a
>> decentralized and secure digital currency capable of empowering people
>> around the world.
>
> Well, you failed miserably at that.
>
> Checking for double spending, while in theory decentralise-able, is in
> practice done by one of two groups.
>
> Secure? Seems there are a lot of scams, no refunds, no real anonymity -
> a public blockchain for chrissake, if you know someone's wallet you can
> see all past and subsequent spending and income  - not too secure IMO.
>
> And Bitcoin is not a currency, you can't conveniently buy things (except
> drugs and guns) with it. It doesn't scale for buying coffee or groceries.
>
> It is a greater fool bubble based on zero intrinsic worth.

I agree completely with you Peter. However, it does in my opinion have 
three cases where it is useful.

1. Tax evasion, assuming you earn your money in bitcoin.
2. International currency transfer.
3. Extortion/blackmail/scams.

But apart from that, and its attractiveness to criminals (see 1 and 3), it 
has no value in itself. It wastes enormous resources and empowers 
criminals.

Personally I've used crypto for nr 2, when my bank threw excrement in my 
face when I tried to pay a programmer I employed. After lots of threats, 
lawyering and sabre rattling, in the end it was easier to just send him 
his salary in crypto.

It was surprisingly easy!

So bitcoin as a medium for international money transfer is perhaps the 
only case where I have actually used it.