Portrait of the statue of Satoshi Nakamoto mysterious founder of Bitcoin and Blockchain technology

The myth of ‘Selfless Satoshi’

This post originally appeared on ZeMing M. Gao’s website, and we republished with permission from the author. Read the full piece here.

The ‘selfless Satoshi’ was a myth created by selfish people to serve their own purposes.

Their purposes are very different from Satoshi’s purpose of serving the mankind as a whole.

‘Satoshi gave up all his rights on Bitcoin and gifted it all to us so that we can do whatever we want’ is the claim.

Indeed, they took Bitcoin, changed it from a value-creating productive system to a value-absorbing casino/Ponzi to take advantage of human weaknesses. (See Why BTC is a value absorbing system, while the real Bitcoin BSV is a value creating system; and BTC and Bitcoin, what is the real difference?)

Meanwhile, admirers of ‘selfless Satoshi’ have not only got the facts wrong, but also have failed a critical test, which is to understand the following truth:

An unyielding real Satoshi fighting to keep his creation uncorrupted is far better for humanity than an imaginary ‘selfless Satoshi’ who has abandoned all his responsibilities.

The real Satoshi and his purpose

But Satoshi is not a myth. He is a real person. His identity is Dr. Craig S. Wright, an Australian/British polymath. See Mathematical proof that Dr. Craig S. Wright is Satoshi Nakamoto.

Wright as Satoshi created Bitcoin to serve humanity. He did not create a free tool for a small group of people to exploit the rest of the world.

Bitcoin is a system that creates and delivers value according to the principles of economics using computation.

Having a PhD in theology, Satoshi knows what kind of value the humanity needs.

Having a PhD in economics, Satoshi knows what kind of a system is needed to realize the value.

Having a PhD in computer sciences, Satoshi knows how to build the system.

Being the single most highly certificated cybersecurity expert in the world, Satoshi knows how to secure the system.

Having a Masters of Laws, Satoshi understands how the system he created interacts with the real society including the legal systems and the political systems.

Satoshi spent years to figure out a way to make a system that

  • maximizes productivity; and
  • minimizes corruption.

Both are necessary.

The genius of Satoshi is not only in his creating a system that is revolutionary in increasing productivity, but also his realization of the following:

  • transparency and economic competition are critical for corruption prevention, and
  • the system must not have a hidden controlling group (such as the ‘BTC Core’) and hence the base protocol must be locked.

The world has failed to understand Satoshi

But others failed to understand his creation.

From James A. Donald’s first response to Satoshi’s post of the releasing Bitcoin to today’s crypto reality, we see a crypto world that everyone seems to pay homage to Satoshi, but very few are doing what Satoshi has started and is still doing. See:

At the same time, with an ultra-high IQ and Asperger’s syndrome,

Satoshi didn’t understand why others didn’t understand it.

And worse, others not only did not understand his creation but further wanted to pervert it. It took Satoshi years to understand their motives, not until he lost control of Bitcoin.

Fighting back

Seeing his creation misused and his values violated, however, Satoshi eventually decided to fight back and reclaim his creation.

Doing that, however, meant that he must bravely face an unimaginable amount of resistance and harassment including defamation at an unprecedented social scale.

But once he has made up his mind, he is unstoppable. It is his mission. It is his responsibility.

And for that, people called him ‘selfish.’

The implication is that he cannot be Satoshi, because Satoshi was ‘selfless.’

Therefore, having already failed to understand Satoshi’s creation, the world then failed to treat him with the most basic decency and just.

It is not surprising that people who have been taking advantage of the imaginary ‘selfless Satoshi’ for their own self-serving purposes will reject the real Satoshi.

Nor is it surprising that people prefer an imaginary myth than the truth. People tend to prefer myths over truth because myth can be easily manipulated to satisfy human desires and imaginations (to scratch the ‘itches of their mental ears’ as warned by the Scripture), while the truth can be hard and inconvenient.

But it is sad that people who stand to benefit from the real Bitcoin have been deceived to accept the myth as truth.

The folly of many is that they do not comprehend nor accept a basic principle: the truth is ultimately for our good (’The truth shall set you free’ John 8:32).

As a result, they only look at the superficial, and foolishly equate taking responsibility to being selfish, not understanding the underlying relevance of the matter:

If Satoshi does not fight back, the humanity loses.

But Satoshi did fight back. And the war has already shifted in favor of the good in the real battleground, which is utility and scaling.

In terms of scaling measured by total number of transactions processed each day, the real Bitcoin (BSV) has steadily gained ground against the entire crypto space collectively (not just BTC). The BSV scaling versus that of the rest in total has grown from 1/100 to 1/10, then to 1/1, even peaking at 10/1 occasionally. With unbounded scalability and extremely low cost of transactions, BSV’s scaling is poised to reach 100/1, 1000/1, 1,000,000/1 and beyond versus that of the rest in total, all when others still have no clue on the real scalability and utility! See The necessary scalability of Layer-1 on blockchain.

Adoption at really large scales is coming, and those who fix their eyes on coin prices on corrupt crypto exchanges are going to find that the new reality has no place to accommodate their get-rich-quick schemes.

The world may be foolish, but it is always practical. It may take time, but people always wake up to actual utility that makes their lives better. One can only cheat people’s wallets for so long.

Don’t miss the next edition of Dr. Craig Wright’s The Bitcoin Masterclasses in Ljubljana, Slovenia, on February 22 and 23. Register your attendance for free here.

Watch: Dr. Craig Wright’s keynote speech: A Better Internet with IPv6 and BSV Blockchain

YouTube video

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