In part I of the series we explored some of the history around Bitcoin’s creator, Satoshi Nakamoto. In part II we will explore one thought provoking scenario regarding who could really be behind Bitcoin and why.
Let me begin by saying it’s important to remember that Bitcoin and blockchain are still very new technology. Technology in a very early stage that few truly understand. The potential of Bitcoin and blockchain to level the playing field cannot be overstated. A fair and equitable system enforced by verifiable protocols as opposed to an opaque system enforced by corruptible humans.
For most the blockchain implications are positive but for some the implications are negative. Very, very negative. Blockchain has the potential to recapture and redeploy trillions of dollars of “lost” value that is currently wasted, misappropriated, lost, or outright stolen. The pervasive fraud, waste, incompetence, abuse, and corruption in today’s systems cannot thrive in a blockchain enabled world.
In the very near future our existing framework and the flow of wealth from poor to rich will be severely impacted and marginalized. The recipients of that wealth are not thrilled by the prospect as you can imagine. They will do anything possible to maintain the status quo. There are literally trillions of dollars at stake that blockchain will disrupt.
Fortunately there are those who are destined to build the fair and equitable society (and associated governance) of the future. These individuals and teams will be the geeks and geniuses who remove layers of redundancy, waste, mismanagement, and abuse. The blockchain will not allow it. Our current day blockchain innovators will build on the initial work of the 18th century US founding fathers.
These 21st century “design” fathers, if you will (as opposed to founding fathers), will execute the founding fathers vision via a system that cannot be manipulated by men as we have today. The founding fathers designed an incredible system that is extremely difficult to corrupt. But even back then they knew it would eventually be corrupted by men given enough time and enough money. However, I digress…
Now imagine there is an aspiring world power who is working on creating a brand new digital system of the future. A system that totally replaces the rigged system of today. It’s no secret that the middle class and the middle tier countries of the world have minimal chance for success in today’s world. That would all change with a blockchain system that is fair for all people of the world and not just the select few.
This new system would be inherently open, honest, ethical, immutable, and transparent. A system that returns individual responsibility and accountability. A system cannot be bribed, blackmailed, or threatened with physical or emotional harm. A system that has none of the potential weaknesses of the men (and women) who design it.
This new system would enable anyone and everyone to succeed and prosper. This new system would not be centralized within the frailties of human power brokers. This system would be solely enforced by verifiable technology and protocols, backed by the people who contribute and maintain the overall ecosystem.
What would be the best way to bring this marvelous creation to the attention of the world and begin to achieve wide spread adoption? In my opinion there’s probably only one realistic possibility for wide spread adoption. And we could be watching it play out in real time. I’m talking about releasing the creation to the wild and letting it fly on its own and grow organically.
The only real way to gain worldwide acceptance and adoption would be to let Bitcoin free. What other alternatives are there? How many people in China (or Japan or Russia or Germany etc) would be enthusiastic about adopting a new cryptographic based currency that was wholly developed and deployed by architects and engineers from the US? How many people in the US would be enthusiastic about adopting a new electronic currency developed solely by the federal government?
The same can be said of any country and any people around the world. The current morally and ethically bankrupt system (not to mention financially bankrupt) of trade and governance has destroyed any trust and faith between parties, countries, and people. This has been sacrificed at the alter of bottom to top wealth transfer enabled by bloated governments and engineered by global elites. However, I digress again….
Now what if this mystery government/world power had the foresight to understand the Bitcoin growth and adoption that would occur organically. What if they understood the world changing implications and adoption that would occur as a result. What if they were to mine one million of the initial supply and save this for future use? What gain or benefit could occur and who or what would be the beneficiaries?
If you read Satoshi’s white paper and his newsgroup postings it seems evident that he designed Bitcoin for an eventual price of 1 million dollars per coin. The fact that he made Bitcoin divisible by eight decimal places enables that perfectly. If each Satoshi were worth one penny then one Bitcoin would be a million dollars. Satoshi even commented that with Bitcoin at one million dollars there would be enough Bitcoin valuation to be the worlds reserve currency. In other words, Bitcoin could possibly become the worlds reserve currency instead of the “almighty” dollar or other failed fiat counterparts of the past.
I predict that we will eventually know who is behind Satoshi Nakamoto and Bitcoin/blockchain. I expect the creators will come forward once Bitcoin hits the one million dollar mark or thereabouts. They will prove identity by signing a message with one of the original Satoshi private keys. At that point the keys behind a million Bitcoins would be worth roughly one trillion dollars.
Imagine being an emerging world power who suddenly has more Bitcoin than any other county (or individuals) in the world. What would that do for this nations reputation, standing, and status? What if Bitcoin hits one billion dollars per coin by 2100? At that price the Satoshi wallets would contain more wealth (currency wealth that is) than existed in all of history. Roughly one quadrillion dollars in Satoshi wallet valuation if Bitcoin ever hits one billion.
So is Bitcoin the result of one individuals genius building on incremental technological advances or is there more to it than that? Obviously I believe there is more too it. I have no hard data to validate this hypothesis but perhaps some investigation is warranted. I’m merely going on decades of education guided by decades of experience viewed through a red pill lens. Bitcoin and blockchain are exactly the right solution and exactly at the right time. In my experience that rarely happens by mere chance.
If I were to guess there is a strong possibility that an Asian country is either behind Bitcoin or had major input and influence into it’s creation and release. The larger world desire and movement to end the petrodollars reign is full motion. Will Japan, China, or another world power play the Bitcoin Royal Flush with a trillion dollar (or more) Bitcoin wallet?
Let me know your thoughts in the comments. Click and share using the links below if you’d like the content and the thought provoking angles.