{"id":375144,"date":"2019-03-18T20:00:09","date_gmt":"2019-03-18T20:00:09","guid":{"rendered":"https:\/\/ktsl888.com\/?p=375144"},"modified":"2019-03-18T15:11:57","modified_gmt":"2019-03-18T15:11:57","slug":"satoshi-nakamoto-may-have-considered-a-bitcoin-kill-switch","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/satoshi-nakamoto-may-have-considered-a-bitcoin-kill-switch\/","title":{"rendered":"Satoshi Nakamoto May Have Considered a Bitcoin Kill Switch"},"content":{"rendered":"
With so little known about the person or group behind the mysterious pseudonym Satoshi Nakamoto<\/a>, it\u2019s difficult to imagine the motivation behind designing and developing the first-ever peer-to-peer electronic cash system with Bitcoin.<\/span><\/p>\n One goal was clear: create a decentralized cryptocurrency that cannot be controlled by governments. To do that, Nakamoto built in certain fail-safes into Bitcoin\u2019s blueprint, including cryptography, decentralization, a proof of work consensus, a hard-capped supply and more. And according to speculation over what Satoshi meant in a quote being shared around social media could suggest that he or she was considering ways to render Bitcoin<\/a> useless if it were stolen.<\/span><\/p>\n Ten years ago, following the wake of the 2008 economic crisis, Satoshi Nakamoto designed what is the closest thing to a perfect currency the world has ever seen. It\u2019s deflationary, decentralized money, protected by cryptography and consensus, in order to prevent governments from ever seizing control over an individual\u2019s funds.<\/span><\/p>\n Related Reading | Fundamentals Grow While Bitcoin Price Stagnates, Where Does BTC Go From Here?<\/a><\/strong><\/em><\/p>\n As long as an individual retains their private keys, no one else can control their Bitcoin. In the rare case if someone did gain control over someone else\u2019s Bitcoin, possibly by the way of theft, Satoshi may have been researching a way to render that Bitcoin useless. And if the person who rightfully owned the Bitcoin ever regained control of it, the Bitcoin would be restored to its former value and use.<\/span><\/p>\n https:\/\/twitter.com\/btcdjs\/status\/78951680?s=12<\/p>\n A tweet from a Twitter<\/a> account dedicated to Satoshi Nakamoto quotes has crypto Twitter stirring today, as top crypto speculators discuss what the mysterious entity had meant when the thought was shared.<\/span><\/p>\n \u201cImagine if gold turned to lead when stolen.\u00a0 If the thief gives it back, it turns to gold again,\u201d the quote reads.<\/span><\/p>\n https:\/\/twitter.com\/deaterbob\/status\/19276289?s=12<\/p>\n Satoshi appears to be using gold as an example for what might be possible with Bitcoin.<\/span><\/p>\n Related Reading | Precious Metals Firm Drops Crypto: Is the Bitcoin Digital Gold Narrative In Trouble?<\/a><\/strong><\/em><\/p>\nWas Satoshi Nakamoto Considering Ways To Render Bitcoin Useless if Stolen?<\/span><\/h2>\n