Satoshi Nakamoto: Why Bitcoin Ultimately Failed

By Chongchen Saelee

Bitcoin failed because of human nature: greed. First of all, I never intended on Bitcoin going public or even being monetized. I had written a few prototypes and was testing it myself. It was on private computers. It was more an exercise to see if I could actually bring my paper to life, to see if it actually worked.

Unfortunately, when greedy unaccomplished techies seize the opportunity to steal credit for it, they will. Thus, what you see right now with Bitcoin is parallel of Zimbabwe warlords hijacking of currency. Or what I like to allude to is Lord of the Flies. Bitcoin is meant to cater to everyone, it’s all-inclusive.

But because these early adopters intend on making it exclusive to themselves, they’ve already violated the design and original protocol. Mind you, that “official” public technical whitepaper is not the original paper I wrote. So it has failed.

Bitcoin developers are better off creating their own altcoin. That way they can have full control over their design, protocol, and decision-making. They’re too enamored with exploiting my Satoshi Nakamoto nym and reputation, which is incredibly unethical, immoral, and criminal.

It’s the ultimate case of patricide. A story about lust for ultimate power. I designed Bitcoin to be harmonious, despite conflicting agendas. Unfortunately, all Bitcoin puppeteers are exclusive and power-hungry. Therefore it doesn’t work. They’ve hijacked the train.

After all, Bitcoin was designed by a 15-year-old me. It was my sandcastle, my baby. So a bunch of bullies took over the sandcastle and claimed they built it. And 15 years later, it must be a pretty cool sandcastle, a bunch of overgrown, balding white men, squeezed together, huddled, on top of a crumbling sand castle.

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