Oddbean

If it suddenly became evident that #Bitcoin was developed by NSA, it wouldn’t change anything (except maybe for its price for some time). 1. Bitcoin’s code is open and had been thoroughly checked by hundreds of developers for over a decade. 2. All Bitcoin transactional records are transparent. 3. Thousands of individuals run Bitcoin software 24/7 validating each transaction that was ever made. 4. No single entity has the power to alter Bitcoin code or have reasonable effect on its development. P.S. U.S. Department of Defence had a significant role in development of Internet, yet, thanks to its decentralized nature, it works (almost) as intended and benefits billions of people all over the world. With FOSS software creators play little to no role as years pass. [1]: https://github.com/bitcoin/bitcoin [2]: https://mempool.space [3]: https://bitnodes.io [4]: https://pierre-rochard.medium.com/bitcoin-governance-37e86299470f nostr:note1yqv2lnjszry87erps45pmmvgu84tszrqrld9ktze65esppge532slqhe8w

Would it matter if the NSA had invented Bitcoin? Absolutely. The revelation that "Patoshi" might actually be "NSAtoshi" - not just holding 1 million coins, but an additional 9 million - would shift the entire narrative. It would suggest that Bitcoin’s early growth was an orchestrated effort, not an organic revolution. A vast wealth accumulation strategy in a world where the dollar is dying. If the NSA had such a head start, our discussions about decentralization and governance would suddenly seem hollow. The slow awakening of nation-states to Bitcoin’s potential could have been a well-crafted story, designed to mislead us into believing we had control. The collective agency we thought we shared? An illusion. Whether Bitcoin was a spontaneous creation by a lone cypherpunk or a long-term operation by an intelligence agency to prolong US dominance is no trivial matter. It changes everything.

Do you know who owns all the bitcoins? 10 million were mined in the first 4 years, so they did certainly not accumulate 10 by the time Satoshi left but by now? Are Bitcoins accounted for to a degree that would not leave 10 million to some government agency that bought it via thousands of accounts on exchanges over the years, whenever a pump was desired for their narrative? I'm not saying this is what went down but if that were what went down then yes, it would matter a lot.

You’re right, but i think your concern is as over exaggerating as frivolity of my original statement. I won’t argue that social and ideological side of Bitcoin is no less important than the technical one, but the protocol works like clockwork with numerous non-special-agent devs and users. Ownership of coins does not give one any more power over decision making. I do agree that consequences would be stronger than i thought when writing this post, but i doubt it would be a disaster.