Why people trusted Satoshi Nakamoto and bought first BTC coins 10 years ago?

[Brushless4500KV 4214]

We all know that the fictional character named Satoshi Nakamoto first created bitcoin about ten years ago. He was the person who mined the first 50 bitcoins. Today, even after a decade, still no one knows who was the real Nakamoto!

Something I don't understand is that how he managed to sell his bitcoins anonymously? How early adopters trusted bitcoin when they didn't know about its value?

When something new is launched for the first time, it needs time to be accepted and used by people but this is not the case with bitcoin because it gained popularity like a bomb!

Why you should trust someone you don't even know and use its payment system for your transactions? If it were you, did you pay for an unknown coin developed by some unknown person?!

 

 

Edited November 29, 2019 by Brushless4500KV

[Naga 1250]

People trusted the product more than his creator because to most people who saw bitcoin back then it was defined as digital gold because its codes and how it worls with halving and all that it sounded like a good system. 

[Lubruselu 2803]

That's means those people who was bought bitcoin from satoshi nakamoto they were afford to lose money that's why they try to buy it.

[Nurul Huda 944]

3 hours ago, Naga said:

People trusted the product more than his creator because to most people who saw bitcoin back then it was defined as digital gold because its codes and how it worls with halving and all that it sounded like a good system. 

Yes it is true what you said and I agree with your statement because everyone mostly trusts the product more than the creator because most people who saw bitcoin at that time were defined as digital gold instead of coins so they had a view to develop and then how they could work by halving what sounds like a good system so that the product can be developed until now.

[cryptosix 1643]

19 hours ago, Brushless4500KV said:

Something I don't understand is that how he managed to sell his bitcoins anonymously? How early adopters trusted bitcoin when they didn't know about its value?

When something new is launched for the first time, it needs time to be accepted and used by people but this is not the case with bitcoin because it gained popularity like a bomb!

Why you should trust someone you don't even know and use its payment system for your transactions? If it were you, did you pay for an unknown coin developed by some unknown person?!

Well leave him alone we shouldn't disturb him because he don't want to reveal his identity in public. let him to leave anonymous and forever.

Long ago I read some posts where he paid BTC to the developers and other people also he built the forum that made him trust by people. A person who had knowledge will do everything according to his mind. There are more people who built their wealth by living anonymous only

 

[Luciferludz 1442]

That's is what's we call some kind of investment! Always you must try do tasting things and not testing in order to invest in something new.

[Brushless4500KV 4214]

Most of you said people trust a product more than its creator. That's true but a product should prove itself before it is accepted by its users. When bitcoin first came into existence 10 years ago, no one had tried it to see if it is something useful or not. No one had experienced any kind of transaction with bitcoin before that. I think everyone who bought BTC back then, did the riskiest thing of his/her life. How did they know if bitcoin developer was a scammer or not? Even fiat currency took some time to be trusted by people worldwide.

It is people's trust and adoption that really matters. If they didn't use bitcoin, it would never achieve this huge success.

[miskyming 1588]

I guess these people trusted Satoshi Nakamoto because they know that it will be popular virtual currency in the future because of the uniqueness of bitcoin.

[palalu 512]

I think because the price is cheap, it makes people dare to buy bitcoin for fun, and incidentally the price goes up hundreds of times

[myaccount1 584]

Just now, miskyming said:

I guess these people trusted Satoshi Nakamoto because they know that it will be popular virtual currency in the future because of the uniqueness of bitcoin.

Yes they know that time that bitcoin is a very trusted coins which will give them a very good futures and i think those peoples are bought bitcoin in that time and hold it till now they are very luckiest investors.

[Brushless4500KV 4214]

I think they bought bitcoin because in the early days, bitcoin price was just a few cents. Even in Mars 2010, it didn't still worth one cent! But in July 2010 its price increased to 8 cents!

Maybe those early buyers thought that a few cents worth risking and they wanted to experience new things and try their own luck. But how did they know if bitcoin will be a success or failure?

Did they buy BTC to invest and earn money or just bought it to use the new payment method and looked for some decentralized money transfer system?

Maybe the early buyers were professional software engineers who wanted to learn more about blockchain technology and use it to develop their own coins. There are lots of possibilities.

[Migo 7946]

21 hours ago, Naga said:

People trusted the product more than his creator because to most people who saw bitcoin back then it was defined as digital gold because its codes and how it worls with halving and all that it sounded like a good system. 

This good from you when you talked about the product before the creator, but the problem is in that time how those buyers had the courage and bought a coin with almost a dead price?? 

[Naga 1250]

20 hours ago, cryptosix said:

Well leave him alone we shouldn't disturb him because he don't want to reveal his identity in public. let him to leave anonymous and forever.

Long ago I read some posts where he paid BTC to the developers and other people also he built the forum that made him trust by people. A person who had knowledge will do everything according to his mind. There are more people who built their wealth by living anonymous only

 

Yea he did a lot to keep the crypto space safe and suported projects and I also think he should stay anonymous socially these days with those hackers all around us making big hacks of exchanges. 

[Nurul Huda 944]

18 hours ago, miskyming said:

I guess these people trusted Satoshi Nakamoto because they know that it will be popular virtual currency in the future because of the uniqueness of bitcoin.

In my opinion there will be many people who trust Satoshi Nakamoto because they think he is the first bitcoin generator to become popular now and even feel that it will become a popular virtual currency in the future because of the uniqueness of bitcoin, so many people believe in Satoshi Nakamoto as a public figure regarding bitcoin.

[cryptosix 1643]

29 minutes ago, Naga said:

Yea he did a lot to keep the crypto space safe and suported projects and I also think he should stay anonymous socially these days with those hackers all around us making big hacks of exchanges. 

Exchanges those who use same script will be easy to hack, but Bitcoin was built on own codes and even the forum was modified with their own codes. Hackers always try where there are loop holes in websites.

[Naga 1250]

10 minutes ago, cryptosix said:

Exchanges those who use same script will be easy to hack, but Bitcoin was built on own codes and even the forum was modified with their own codes. Hackers always try where there are loop holes in websites.

Exchanges shouldn't be having the same script or ecen security measures because they're playing with people's living because a lot of traders are full time traders and hence why satoshi should have made a DEX right after creating bitcoin so we would be safer.

[Rosepetals 407]

People take risk like we are doing today.Some trust on ICOs that doesn't done something to prove that it's worth for investments.Its like what's happening 10 years ago.People didn't think that what they bought years back will blow up their mind today.That thing also they didn't expected.Cryptoworld gives us the chance to change our life's today so let's grabbed this opportunity because we will never know until when we can take advantage to own this coin.

Edited December 1, 2019 by Rosepetals

[sdsonjoy50 886]

Satoshi Nakamoto is the father of Bitcoin, you will find more details about this in many blogs, it is reported that he launched Bitcoin in 2019.

[Luciferludz 1442]

On 11/30/2019 at 7:51 AM, Lubruselu said:

That's means those people who was bought bitcoin from satoshi nakamoto they were afford to lose money that's why they try to buy it.

You are right, those people were tried to risk their money to bitcoin while they don't know its future, but now they are enjoying the benefits.

[hakimgentlemen 671]

In my opinion for a simple reason, the price does not represent much and people like weird things that are not related to the government, and then it was just a stroke of luck and here we are with a virtual coin that is worth thousands of dollars.

[Mahi25 142]

In the event that you state why we can believe somebody we don't have any acquaintance with, it appears as though the entirety of that has regularly been done as such far. It isn't everything that exists today and we utilize none of which we know. furthermore, People don't really hang on those years perhaps they overlook it in then back when they understand that they have bitcoin that mined previously.

[lucky80 1046]

On 11/29/2019 at 5:46 PM, Brushless4500KV said:

How early adopters trusted bitcoin when they didn't know about its value?

Are you kidding? The technology described in bitcoin whitepaper is what gives it value. Besides, banks have just lost their reputation in the financial crisis in 2008. If there is a means to send money without intermediaries, why go through the bank. Then formed a community that adds more value to bitcoin. 

[Lubruselu 2803]

On 12/2/2019 at 6:08 PM, Luciferludz said:

You are right, those people were tried to risk their money to bitcoin while they don't know its future, but now they are enjoying the benefits.

That's is features of investors (risk) that's why many investors that's applied risk they always succeed. We also should invest now in some coins

[yifnt 666]

I think they are people who are optimistic about a technology project for the future because they see some crazy things that have succeeded in the future. But more precisely we should ask them directly 😀

[positive 97]

On 11/29/2019 at 11:46 AM, Brushless4500KV said:

We all know that the fictional character named Satoshi Nakamoto first created bitcoin about ten years ago. He was the person who mined the first 50 bitcoins. Today, even after a decade, still no one knows who was the real Nakamoto!

Something I don't understand is that how he managed to sell his bitcoins anonymously? How early adopters trusted bitcoin when they didn't know about its value?

When something new is launched for the first time, it needs time to be accepted and used by people but this is not the case with bitcoin because it gained popularity like a bomb!

Why you should trust someone you don't even know and use its payment system for your transactions? If it were you, did you pay for an unknown coin developed by some unknown person?!

 

 

If you read through the Satoshi email archives you'll understand that Satoshi keep a lot of people which he believed they have the same interest involve before and after he implemented Bitcoin. Besides, what he first built is trust between him and the lover of liberty. However, the concept of the coin is what make the community to love bitcoin at first and the people we're not think about the present state of bitcoin then but the future.