A recent set of emails between Satoshi Nakamoto, the pseudonymous founder of Bitcoin, and one of the cryptocurrency's early adopters, Marty Malmi, shed light on the digital currency's initial philosophy and initial operational problems.

These emails, discovered during legal proceedings involving Craig Wright, reveal Nakamoto's specific goals for Bitcoin, specifically his concern that it would be perceived as a speculative asset and his concerns about anonymity.

The leaked e-mail conversations show that Nakamoto had reservations about classifying Bitcoin primarily as an investment. This perspective is important because it underscores his view of Bitcoin as a means of payment and not solely as a speculative tool. This distinction underscores Bitcoin's utility for transactions without the need for a trusted third partya key feature of its creation.

Another highlight of the announcement is Nakamoto's attitude to anonymity. Contrary to popular belief that Bitcoin itself is an anonymous network, Nakamoto recommends a cautious approach to anonymity. He suggested that while Bitcoin offers the possibility of anonymity, the community needs to recognize its shortcomings in this regard.

In his emails, he presents a thoughtful concept of privacy that takes into account the real presence of these technologies, including their characteristics and limitations. This approach not only avoids potential legal and moral complications, but also helps create a high-quality user base.

Nakamoto also shed light on the environmental impact of Bitcoin's proof-of-work (PoW) system. He was aware of early criticisms about the mechanism's energy consumption, but even then he pointed to PoW's energy efficiency compared to traditional banking systems.

In addition, Nakamoto expresses confidence in the scalability of Bitcoin, which can handle volumes several times larger than those of traditional financial systems, but at a much lower cost. These moments demonstrate his foresight and willingness to tackle future challenges that will eventually become the subject of debate among crypto advocates.

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New emails reveal Satoshi Nakamoto's original vision for Bitcoin - Cryptodnes.bg