Create Yours

Satoshi Nakamoto Quotes

91 wallpapers

Satoshi Nakamoto Quote: “If you don’t believe it or don’t get it, I don’t have the time to try to convince you, sorry.”

If you don’t believe it or don’t get it, I don’t have the time to try to convince you, sorry.

— Satoshi Nakamoto



Satoshi Nakamoto Quote: “I’m sure that in 20 years there will either be very large transaction volume or no volume.”

I’m sure that in 20 years there will either be very large transaction volume or no volume.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “It might make sense just to get some in case it catches on.”

It might make sense just to get some in case it catches on.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.”

The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.”

The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “It is a global distributed database, with additions to the database by consent of the majority.”

It is a global distributed database, with additions to the database by consent of the majority.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party.”

I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “Being open source means anyone can independently review the code. If it was closed source, nobody could verify the security. I think it’s essential for a program of this nature to be open source.”

Being open source means anyone can independently review the code. If it was closed source, nobody could verify the security. I think it’s essential for a program of this nature to be open source.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime.”

The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “Lost coins only make everyone else’s coins worth slightly more. Think of it as a donation to everyone.”

Lost coins only make everyone else’s coins worth slightly more. Think of it as a donation to everyone.

— Satoshi Nakamoto



Satoshi Nakamoto Quote: “Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts. Their massive overhead costs make micropayments impossible.”

Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts. Their massive overhead costs make micropayments impossible.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “It’s very attractive to the libertarian viewpoint if we can explain it properly. I’m better with code than with words though.”

It’s very attractive to the libertarian viewpoint if we can explain it properly. I’m better with code than with words though.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “I’ve developed a new open source P2P e-cash system called Bitcoin. It’s completely decentralized, with no central server or trusted parties, because everything is based on crypto proof instead of trust.”

I’ve developed a new open source P2P e-cash system called Bitcoin. It’s completely decentralized, with no central server or trusted parties, because everything is based on crypto proof instead of trust.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “The result is a distributed system with no single point of failure. Users hold the crypto keys to their own money and transact directly with each other, with the help of the P2P network to check for double-spending.”

The result is a distributed system with no single point of failure. Users hold the crypto keys to their own money and transact directly with each other, with the help of the P2P network to check for double-spending.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “Bitcoin would be convenient for people who don’t have a credit card or don’t want to use the cards they have.”

Bitcoin would be convenient for people who don’t have a credit card or don’t want to use the cards they have.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “Governments are good at cutting off the heads of a centrally controlled networks like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own.”

Governments are good at cutting off the heads of a centrally controlled networks like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “The heat from your computer is not wasted if you need to heat your home.”

The heat from your computer is not wasted if you need to heat your home.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “I am not Dorian Nakamoto.”

I am not Dorian Nakamoto.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “For greater privacy, it’s best to use bitcoin addresses only once.”

For greater privacy, it’s best to use bitcoin addresses only once.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.”

A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.

— Satoshi Nakamoto



Satoshi Nakamoto Quote: “Imagine if gold turned to lead when stolen.”

Imagine if gold turned to lead when stolen.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “With e-currency based on cryptographic proof, without the need to trust a third party middleman, money can be secure and transactions effortless.”

With e-currency based on cryptographic proof, without the need to trust a third party middleman, money can be secure and transactions effortless.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “I’ve been working on bitcoin’s design since 2007. At some point I became convinced there was a way to do this without any trust required at all and couldn’t resist to keep thinking about it.”

I’ve been working on bitcoin’s design since 2007. At some point I became convinced there was a way to do this without any trust required at all and couldn’t resist to keep thinking about it.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “It might make sense just to get some in case it catches on. If enough people think the same way, that becomes a self fulfilling prophecy.”

It might make sense just to get some in case it catches on. If enough people think the same way, that becomes a self fulfilling prophecy.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “When someone tries to buy all the world’s supply of a scarce asset, the more they buy the higher the price goes.”

When someone tries to buy all the world’s supply of a scarce asset, the more they buy the higher the price goes.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “There is nobody to act as central bank or federal reserve to adjust the money supply as the population of users grows. That would have required a trusted party to determine the value, because I don’t know a way for software to know the real world value of things.”

There is nobody to act as central bank or federal reserve to adjust the money supply as the population of users grows. That would have required a trusted party to determine the value, because I don’t know a way for software to know the real world value of things.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “I don’t believe a second, compatible implementation of Bitcoin will ever be a good idea. So much of the design depends on all nodes getting exactly identical results in lockstep that a second implementation would be a menace to the network.”

I don’t believe a second, compatible implementation of Bitcoin will ever be a good idea. So much of the design depends on all nodes getting exactly identical results in lockstep that a second implementation would be a menace to the network.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “Bitcoins have no dividend or potential future dividend, therefore not like a stock. More like a collectible or commodity.”

Bitcoins have no dividend or potential future dividend, therefore not like a stock. More like a collectible or commodity.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “At first, most users would run network nodes, but as the network grows beyond a certain point, it would be left more and more to specialists with server farms of specialized hardware. A server farm would only need to have one node on the network and the rest of the LAN connects with that one node.”

At first, most users would run network nodes, but as the network grows beyond a certain point, it would be left more and more to specialists with server farms of specialized hardware. A server farm would only need to have one node on the network and the rest of the LAN connects with that one node.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “Writing a description for this thing for general audiences is bloody hard. There’s nothing to relate it to.”

Writing a description for this thing for general audiences is bloody hard. There’s nothing to relate it to.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “Bitcoin generation should end up where it’s cheapest. Maybe that will be in cold climates where there’s electric heat, where it would be essentially free.”

Bitcoin generation should end up where it’s cheapest. Maybe that will be in cold climates where there’s electric heat, where it would be essentially free.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “If SHA-256 became completely broken, I think we could come to some agreement about what the honest block chain was before the trouble started, lock that in and continue from there with a new hash function.”

If SHA-256 became completely broken, I think we could come to some agreement about what the honest block chain was before the trouble started, lock that in and continue from there with a new hash function.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “Bitcoin isn’t currently practical for very small micropayments. Not for things like pay per search or per page view without an aggregating mechanism, not things needing to pay less than 0.01. The dust spam limit is a first try at intentionally trying to prevent overly small micropayments like that.”

Bitcoin isn’t currently practical for very small micropayments. Not for things like pay per search or per page view without an aggregating mechanism, not things needing to pay less than 0.01. The dust spam limit is a first try at intentionally trying to prevent overly small micropayments like that.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “The Bitcoin network might actually reduce spam by diverting zombie farms to generating bitcoins instead.”

The Bitcoin network might actually reduce spam by diverting zombie farms to generating bitcoins instead.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “Sigh... why delete a wallet instead of moving it aside and keeping the old copy just in case? You should never delete a wallet.”

Sigh... why delete a wallet instead of moving it aside and keeping the old copy just in case? You should never delete a wallet.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “When there are multiple double-spent versions of the same transaction, one and only one will become valid.”

When there are multiple double-spent versions of the same transaction, one and only one will become valid.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “I anticipate there will never be more than 100K nodes, probably less. It will reach an equilibrium where it’s not worth it for more nodes to join in. The rest will be lightweight clients, which could be millions.”

I anticipate there will never be more than 100K nodes, probably less. It will reach an equilibrium where it’s not worth it for more nodes to join in. The rest will be lightweight clients, which could be millions.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “Only people trying to create new coins would need to run network nodes.”

Only people trying to create new coins would need to run network nodes.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “SHA-256 is very strong. It’s not like the incremental step from MD5 to SHA1. It can last several decades unless there’s some massive breakthrough attack.”

SHA-256 is very strong. It’s not like the incremental step from MD5 to SHA1. It can last several decades unless there’s some massive breakthrough attack.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “A block header with no transactions would be about 80 bytes. If we suppose blocks are generated every 10 minutes, 80 bytes * 6 * 24 * 365 = 4.2MB per year. With computer systems typically selling with 2GB of RAM as of 2008, and Moore’s Law predicting current growth of 1.2GB per year, storage should not be a problem even if the block headers must be kept in memory.”

A block header with no transactions would be about 80 bytes. If we suppose blocks are generated every 10 minutes, 80 bytes * 6 * 24 * 365 = 4.2MB per year. With computer systems typically selling with 2GB of RAM as of 2008, and Moore’s Law predicting current growth of 1.2GB per year, storage should not be a problem even if the block headers must be kept in memory.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “A lot of people automatically dismiss e-currency as a lost cause because of all the companies that failed since the 1990?s. I hope it’s obvious it was only the centrally controlled nature of those systems that doomed them. I think this is the first time we’re trying a decentralized, non-trust-based system.”

A lot of people automatically dismiss e-currency as a lost cause because of all the companies that failed since the 1990?s. I hope it’s obvious it was only the centrally controlled nature of those systems that doomed them. I think this is the first time we’re trying a decentralized, non-trust-based system.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “Once the latest transaction in a coin is buried under enough blocks, the spent transactions before it can be discarded to save disk space. To facilitate this without breaking the block’s hash, transactions are hashed in a Merkle Tree, with only the root included in the block’s hash. Old blocks can then be compacted by stubbing off branches of the tree. The interior hashes do not need to be stored.”

Once the latest transaction in a coin is buried under enough blocks, the spent transactions before it can be discarded to save disk space. To facilitate this without breaking the block’s hash, transactions are hashed in a Merkle Tree, with only the root included in the block’s hash. Old blocks can then be compacted by stubbing off branches of the tree. The interior hashes do not need to be stored.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “As you figured out, the root problem is we shouldn’t be counting or spending transactions until they have at least 1 confirmation. 0/unconfirmed transactions are very much second class citizens. At most, they are advice that something has been received, but counting them as balance or spending them is premature.”

As you figured out, the root problem is we shouldn’t be counting or spending transactions until they have at least 1 confirmation. 0/unconfirmed transactions are very much second class citizens. At most, they are advice that something has been received, but counting them as balance or spending them is premature.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “As an additional firewall, a new key pair should be used for each transaction to keep them from being linked to a common owner. Some linking is still unavoidable with multi-input transactions, which necessarily reveal that their inputs were owned by the same owner. The risk is that if the owner of a key is revealed, linking could reveal other transactions that belonged to the same owner.”

As an additional firewall, a new key pair should be used for each transaction to keep them from being linked to a common owner. Some linking is still unavoidable with multi-input transactions, which necessarily reveal that their inputs were owned by the same owner. The risk is that if the owner of a key is revealed, linking could reveal other transactions that belonged to the same owner.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “In a few decades when the reward gets too small, the transaction fee will become the main compensation for nodes.”

In a few decades when the reward gets too small, the transaction fee will become the main compensation for nodes.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “The average total coins generated across the network per day stays the same. Faster machines just get a larger share than slower machines. If everyone bought faster machines, they wouldn’t get more coins than before.”

The average total coins generated across the network per day stays the same. Faster machines just get a larger share than slower machines. If everyone bought faster machines, they wouldn’t get more coins than before.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “Once it gets bootstrapped, there are so many applications if you could effortlessly pay a few cents to a website as easily as dropping coins in a vending machine.”

Once it gets bootstrapped, there are so many applications if you could effortlessly pay a few cents to a website as easily as dropping coins in a vending machine.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “To compensate for increasing hardware speed and varying interest in running nodes over time, the proof-of-work difficulty is determined by a moving average targeting an average number of blocks per hour. If they’re generated too fast, the difficulty increases.”

To compensate for increasing hardware speed and varying interest in running nodes over time, the proof-of-work difficulty is determined by a moving average targeting an average number of blocks per hour. If they’re generated too fast, the difficulty increases.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “The steps to run the network are as follows: 1. New transactions are broadcast to all nodes. 2. Each node collects new transactions into a block. 3. Each node works on finding a difficult proof-of-work for its block. 4. When a node finds a proof-of-work, it broadcasts the block to all nodes. 5. Nodes accept the block only if all transactions in it are valid and not already spent. 6. Nodes express their acceptance of the block by working on creating the next block in the chain, using the hash of the accepted block as the previous hash.”

The steps to run the network are as follows: 1. New transactions are broadcast to all nodes. 2. Each node collects new transactions into a block. 3. Each node works on finding a difficult proof-of-work for its block. 4. When a node finds a proof-of-work, it broadcasts the block to all nodes. 5. Nodes accept the block only if all transactions in it are valid and not already spent. 6. Nodes express their acceptance of the block by working on creating the next block in the chain, using the hash of the accepted block as the previous hash.

— Satoshi Nakamoto


Satoshi Nakamoto Quote: “The main properties: Double-spending is prevented with a peer-to-peer network. No mint or other trusted parties. Participants can be anonymous. New coins are made from Hashcash style proof-of-work. The proof-of-work for new coin generation also proof-of-workers the network to prevent double-spending.”

The main properties: Double-spending is prevented with a peer-to-peer network. No mint or other trusted parties. Participants can be anonymous. New coins are made from Hashcash style proof-of-work. The proof-of-work for new coin generation also proof-of-workers the network to prevent double-spending.

— Satoshi Nakamoto

PREV 1 2 NEXT
Linus Torvalds Quotes
Sheryl Sandberg Quotes
Technology Quotes
Motivational Quotes
Inspirational Entrepreneurship Quotes
Positive Quotes
Startup Quotes
Albert Einstein Quotes
Success Quotes
Steve Jobs Quotes
Inspirational Quotes
Courage Quotes

Get Inspired. Get Motivated.

We're on a mission of turning inspiring quotes into beautiful wallpapers. Start your week with a motivational kick. Don't miss out on our next weekly batch.

Join 48,000+ other people and subscribe to Quotefancy Weekly Digest.

Subscribe