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Bitcoin Should Not Be Considered a “Investment,” According to Satoshi

Phillip Bryant

ByPhillip Bryant

Feb 25, 2024
Bitcoin Should Not Be Considered a “Investment,” According to Satoshi

Over the past few days, additional emails sent by the unknown person who created Bitcoin, Satoshi Nakamoto, have been made public on Friday.

The most recent emails, which were revealed by Martii Malmi, not only add to the established folklore surrounding Bitcoin but also provide readers with a deeper comprehension of the humble beginnings of Bitcoin and how Satoshi attempted to initiate the network.

Additionally, he was able to reveal a portion of the creator’s personality. Take, for example, the statement that Satoshi made to Malmi in November of 2009: “This is going to be an enjoyable experience!”

Satoshi’s Words and Actions Are Attracting Increased Attention

Satoshi even used the word “darn” at one point in time, and he referred to Xunie, a user on the Bitcointalk forum, as a “silly person.” At the end of November 2009, when Malmi was using an automated tool on CoolText.com to create a logo, Satoshi criticized it, saying that it was “too disco/web-1990s.”

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A few of the messages are particularly noteworthy, particularly in light of the current circumstances, such as Satoshi’s decision to refrain from classifying Bitcoin as an “investment.”

“I feel uneasy about directly stating ‘regard it as an investment,'” Satoshi mentioned in June 2009. “It’s risky to express that opinion, and I recommend removing that particular point.” It’s OK if they reach that decision independently, but we shouldn’t present it that way.

Within that exact email, Satoshi proposed the concept of labeling Bitcoin as a “cryptocurrency.”

One individual coined the term ‘cryptocurrency’… It’s a term we could consider when discussing Bitcoin; what do you think? He inquired.

Bitcoin’s Privacy Issue Has Always Remained the Most Important One

In 2010, Satoshi raised a red flag regarding the emphasis that was placed on the privacy aspect of Bitcoin. He suggested that users might accidentally reveal details about their transaction history, which could potentially lead to the disclosure of their identities.

“One can maintain a pseudonymous identity, but caution is advised,” the author wrote. If individuals were to have the impression that it was carried out without disclosing their identity, then the consequences would be more severe if appropriate precautions were not taken in advance to guarantee anonymity.

Satoshi mentioned that the fact that one is “unknown” also “seems a little suspicious.”

It would appear from the conversation that took place between Malmi and Satoshi that Satoshi took a break from his work for several months in 2010. When Malmi first started the email thread, he mentioned that he hadn’t seen Satoshi “in quite some time.” This was the beginning of the conversation.

In previous emails, Satoshi mentioned that they had a job that was unrelated to Bitcoin and that it was always taking up a significant amount of their time. In July 2009, Satoshi informed Malmi that he would not be able to provide much assistance at the moment due to the fact that he was pretty busy with work and needed to take a break after working for 18 months.

Assuming that Satoshi did not make use of his programming skills in his professional role is a possibility that can be considered hypothetical. In October, he wrote an email in which he expressed his happiness at being able to write code once more!

In the year 2010, Satoshi disclosed to Malmi that he had once again been preoccupied with “other matters” and that he would go back to concentrating on Bitcoin in the near future.

Phillip Bryant

Phillip Bryant

Phillip Bryant, an esteemed writer in the financial field, imparts his extensive knowledge of currency markets to the readers of Main Crypto News. With a wealth of experience in international finance and a keen sense of market trends, Bryant offers timely and perceptive analysis of foreign exchange, keeping readers well-informed.

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