Satoshi advised against using the term “investment” to refer to bitcoin


Satoshi Nakamoto, the man behind Bitcoin, warned against capitalizing on the anonymity feature in recent communications.

Friday saw the release of more emails supposedly sent by Satoshi Nakamoto, the anonymous inventor of Bitcoin.

Martii Malmi’s newly disclosed emails expand the canon of the bitcoin legend while also shedding light on the cryptocurrency’s modest origins and Satoshi’s efforts to establish the network.

He also gave us a glimpse of the creator’s character. In November 2009, for instance, Satoshi said to Malmi, “This is going to be fun!”

Satoshi went so far as to call Xunie a “goofball” and use the term “darn” at one point in their exchange on the Bitcointalk forum. Satoshi rejected a logo that Malmi had automatically created on in late November 2009 because it was “too Disco/web-1990’s.”

Notable among these conversations is Satoshi’s reluctance to classify bitcoin as an “investment.” This is particularly relevant in the present day.

Satoshi even suggested the term “cryptocurrency” for bitcoin in the same email. Someone coined the term ‘cryptocurrency’…Would you like it if we used it to describe Bitcoin? He inquired.

Concerned that users could reveal their identities by disclosing their transaction histories, Satoshi voiced his apprehension about promoting bitcoin’s anonymity in 2010.

He cautioned that being pseudonymous is feasible, but warned that one must use caution. If people think it’s anonymous, the “backlash will be much harsher if we haven’t created expectations by advising in advance that you have to take care if you truly want to make [being anonymous] work.”

“Anonymous” “sounds a little sinister,” Satoshi said. And then, according to the letters that Satoshi sent to Malmi, it seems that he took a little vacation in 2010. Resuming the email exchange, Malmi mentions that it had been “a while” since he last saw Satoshi.

Previous correspondence from Satoshi indicated that he had a day job unrelated to bitcoin. In July 2009, Satoshi informed Malmi that he would not be able to provide much assistance at the moment due to his “very busy job” and the need for a break after 18 months.

It is also possible that Satoshi’s full-time employment was not an opportunity for him to use his coding abilities. He emailed in October, writing, “It’s nice to be coding again!”

Once again preoccupied with “other things,” Satoshi informs Malmi in 2010 that he will return to bitcoin “shortly.”

Also Read: Uniswap Announces the Launch of ‘uni.eth’ Subdomains via Ethereum Name Service

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