Previously hidden correspondence from Satoshi Nakamoto has now come to light. What do these 120 pages of e-mails reveal, and what insights do they provide into the personality of the creator of the Bitcoin network (BTC)?
Revelations from Satoshi Nakamoto’s Unpublished Emails – 5 Insights into the Creator of Bitcoin (BTC)
120 pages of correspondence between Martti Malmi and Satoshi Nakamoto made public Satoshi Nakamoto remains one of the most enigmatic and influential figures in the cryptocurrency world. The mysterious creator of Bitcoin (BTC) has never been formally identified. However, fragments of his life emerge from time to time, as they did recently.
The trial of Craig Wright (nicknamed “Faketoshi”) has brought to light a long e-mail correspondence between developer Martti Malmi (known by the pseudonym “Sirius”) and Satoshi Nakamoto. These 120 pages of emails, previously kept secret, shed new light on the creator of Bitcoin.
- Satoshi Nakamoto wondered about Bitcoin’s (BTC) scalability Emails reveal that from the very beginning, Satoshi Nakamoto wondered about Bitcoin’s (BTC) scalability. In 2009, he envisioned the network supporting up to 100,000 nodes (currently, there are around 50,000).
He expressed his conviction that technological evolution would enable the network to adapt, as he explained to Martti Malmi:
“Even if Bitcoin grows [rapidly], it will still take years for it to represent a significant share of all transactions. […] Bandwidth speeds, prices, available disk space and computing power will be much greater when they are needed.”
On the whole, Satoshi Nakamoto had unshakeable faith in the adoption of the Bitcoin network, despite the doubts expressed by some commentators. He criticized the initial reactions he had received to his project in dedicated forums:
“Some of their answers are pretty archaic. But I guess they’re so used to being anti-currency that anything that doesn’t look like gold seems insufficient to them.”
- Satoshi Nakamoto had taken into account the ecological cost of the Bitcoin network In the face of criticism on the forums, Satoshi Nakamoto spent time explaining the usefulness of Bitcoin. From the outset, some people felt that the BTC network was superfluous and that its energy consumption was excessive. On the other hand, Bitcoin’s creator argued that not having such a payment network would be more costly.
He also compared Bitcoin’s energy consumption to that of the banking system:
“If [Bitcoin] were to consume a significant portion of electricity, I think it would still be less wasteful than the labor and resources allocated to conventional banking activities. […] The cost would be far less than the billions of dollars in bank fees, which fund all those buildings, towers and credit card offerings.”
Bitcoin’s creator also stressed that, in his eyes, it was an existential choice for humanity, and not simply a project based on a digital currency.
