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Satoshi Nakamoto’s Big Bitcoin Prediction Could Prove to Be Wrong, Says Early Cryptocurrency Developer

January 27, 2020

The anonymous creator of Bitcoin may have been wrong about the cryptocurrency’s fate, according to early Bitcoin developer Gavin Andresen.

Andresen, who first discovered Bitcoin in 2010 and eventually became BTC’s lead developer, says Satoshi Nakamoto’s prediction that Bitcoin will either have high transaction volume or zero volume by 2030 could prove to be way off base.

The computer scientist says the prediction ignores the possibility of a middle ground where Bitcoin is still used but remains a niche store of value that’s neither forgotten and abandoned nor fully mainstream.

Satoshi might turn out to be wrong about this. In ten years BTC could be a niche coin for gold bugs, with about the same transaction volume as today. https://t.co/1bdtJ4eiql

— Gavin Andresen (@gavinandresen) January 25, 2020

Andresen began working with Satoshi Nakamoto in December of 2010.

Satoshi’s last confirmed email correspondence was sent to Andresen on April 26th of 2011, revealing a discomfort with the way the press described the unknown developer.

“I wish you wouldn’t keep talking about me as a mysterious shadowy figure, the press just turns that into a pirate currency angle. Maybe instead make it about the open source project and give more credit to your dev contributors; it helps motivate them.”

A day later, Andresen publicly announced his plan to give a speech on Bitcoin at the headquarters of the CIA in June of that year – an event that may have played a role in Satoshi’s disappearance.

When Gavin Andresen visited the CIA in 2011, it lead to 30 pages of debate. https://t.co/oyFj2EknkX Satoshi left the project shortly after.

— Tuur Demeester (@TuurDemeester) August 31, 2017

In recent years, Andresen has emerged as a supporter of Ethereum, and recently talked about his favorite crypto projects of 2018 and 2019.

“I found CryptoKitties the most interesting cryptocurrency-related project of 2018. PoolTogether the most interesting of 2019. I dunno what I will find interesting in 2020, but it will probably be built on Ethereum.”

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Featured Image: Shutterstock/Tithi Luadthong