16-6 Wei Dai comes out like Washington from mountain

Wu: Respect for privacy is a cypherpunk creed, and if disclosure of Satoshi Nakamoto’s identity seems to violate this, then it cannot do it.

You’re right, intuition tells me that he should come out, only if he wants to. So I collected the information he was willing to come out with.

Document (1) is an interview with a Portuguese reporter disclosed by Wei Dai, from which we can see that Satoshi Nakamoto is not impossible to come out.

The reporter asked:

“Does bitcoin seem cyberpunk project to you? In that case, can one expect they ever disclose identity?”

Wei Dai replied:

“Not sure what the first part of the question means. I don’t expect Satoshi to voluntarily reveal his identity in the near future, but maybe he will do so eventually?(1)

Wu: This is possible. The core is the word “maybe.” Without this word, the identity will be exposed.

Your interpretation of the word is correct. No have “may be” the word is sure to come out. You have now learned to think deeply. “In the near future” is meaningless, and will take the” voluntarily reveal” of this “voluntarily”  is also very difficult; BCH fork and Satoshi Auburn do not constitute a “voluntarily” condition for him. He will not come out until the critical moment unless it’s bitcoin in huge trouble.

Another condition is to go out of the mountain passively. As I said, someone has found Satoshi, and there is no other way.

Judging from Satoshi Nakamoto’s article, he is a liberal and a believer in Mises and Hayek. His actions are also non-interference, allowing the project to develop naturally. Looking at his resume, he knows little about the market operation of the product, but after all, there is still a wise expert behind him. They have a broad vision, and they will still agree as long as the truth is correct. See if you can convince him. Hit his ideal. It is a benign passive come out, and it is also my goal. The various methods I mentioned above are all for him to see. The quack doctors of Chinese medicine prescribe big prescriptions, and always one fit for. My ability to think is insufficient, so I can only use quack methods.

Wu: That makes sense, so the person who said he couldn’t come out also misled me.

The core is that people don’t know that Wei Dai’s speech represents Satoshi Nakamoto. He is like a flower. It isn’t significant for the flowers in the nursery to appreciate each other. He waits for people outside the circle who is to appreciate him. Understand him. You can’t even decipher my secret, so what qualifications do you have to talk to me? This ticket is costly.

Wu: What is his ideal?

His presence should be consistent with his goals. Document (2) Wei Dai explains Satoshi Nakamoto’s goal when replying to group friends.

“I don’t think Satoshi would have patented his ideas either because I think he is not motivated mainly to personally make money, but to change the world and to solve an interesting technical problem. ”(2)

Do you see clearly? Can your solution change the world? It cannot be changed, don’t talk about it. If Satoshi Nakamoto doesn’t come out, because my medicine is not working. Is there anything more world-changing than making Bitcoin a reserve currency? A bitcoin dollar standard or a bitcoin Hong Kong dollar standard must suit him.

Wu: Can you explain the difference between a reserve currency and a store of value?

Stored value has a broader meaning. It means that a specific item can preserve value in the long run; that is, it must outperform the face value of legal currency plus compound interest. At present, real estate, gold, and Bitcoin all have stored value. Gold is also a reserve currency. The characteristics of bitcoin as a reserve currency are better than gold. Still, it only has the qualifications of a reserve currency, and whether it can be made depends on the comprehensive competitive advantage. When I analyzed it, it was classified as a reserve currency. If Bitcoin had been used as a reserve currency, Satoshi Nakamoto would have realized his ideal of changing the world.

Wu: What is comprehensive competitive advantage?

Gold is something better than legal currency. Generally speaking, under the conditions of natural development, something better must be the winner. When the environment changes, good things that cannot be changed will give opportunities to latecomers. Fiat currency is a thing made by a group of geniuses. Gold is ownerless. Those who design the fiat currency have dealt with the gold user: authorities, and bankers and let the gold be returned from the currency to the stored value currency. Various problems of legal currency are fully exposed today, but can Bitcoin win? Wouldn’t it be gold wins? The U.S. Congress’s Mooney and the others want to use gold and Internet technology to redesign the dollar. Bitcoin Who Works For You? Comprehensive competitive advantage means good products are just one advantage.

The mainstream view of Bitcoin is to sit and wait, waiting for the pie to fall from the sky. Why is this so? Because the pies have fallen in the previous three cycles. People are inertial thinking, thinking that the pie will continue to fall. In fact, Bitcoin has reached an inflection point, and the so-called Bitcoin authoritative prediction based on mathematics is unreliable. Their method is the method that the stock market eliminated decades ago. The stock market method is to analyze the company, analyze the comprehensive competitive advantage of the company, and then give an analysis and forecast. Analysis is essential, and forecasting is secondary. So there are no forecasters, an only analysts in the stock market. Blockchain does not have bitcoin analysis reports, only forecast reports. Prediction is primary, and analysis is secondary. As the name suggests, the so-called inflection point is to change the original direction. The upward trend of the inflection point requires a great man.

Wu: That makes sense. Your evidence is convincing, and your medicine has the power to change the world.

Earlier, we explained why Satoshi Nakamoto did not sell, saying he was waiting for an opportunity. It made it clear that he was waiting for the chance to change the world. He is a wealthy child who is not short of money, there is also the Chinese virtue of frugality, and the only thing left is to realize the ideal of life. The highest pursuit in life is Maslow’s self-realization. That is to contribute to society to transform the world. Speaking of changing the world, Bitcoin is only the first step for Satoshi Nakamoto. The world is not short of stored value. Suppose it is only used as a stored value, It is sorry for the partners who hold up Bitcoin. It is sorry for the master who kept it secret for him. It is sorry for Hal Finney’s good intentions because bitcoin couldn’t reach Hal Finney’s conjecture. It is also sorry for the sacrifices of his own anonymity.

Bitcoin must be used as a value-storage or reserve currency. Otherwise, Satoshi Nakamoto would not need to mine so many coins.

Wu: I still want to ask you, what is the reason for preventing him from coming out?

There is a problem hindered by Satoshi Nakamoto, which is the anti-government tendency of cypherpunks. Wei Dai’s answer below shows a change of opinion. He is not against regulation, which is a sign of maturity. He clearly understands Bitcoin’s flaws, and the last sentence is that he found a way out for Bitcoin. I also think that Bitcoin is a reserve currency and must be integrated into the world financial system, which is “a better thing than Bitcoin.” (3) Still, it must be successful via Bitcoin and Satoshi Nakamoto. So Satoshi Nakamoto must be invited. Literature (3) is the change in his ideas.

“But another part is that cryptocurrency and other cypherpunk/cryptoanarchist ideas may ultimately be harmful even if they are successful in their goals. “ (3)
Crypto-anarchy is still the dominant view of blockchain because technical people with knowledge deficiencies dominate it.

Document (3) has a lot of content. Wei Dai said that the Bitcoin monetary policy is not good enough. My understanding is that the price is unstable, and my solution is to solve the instability problem. By 2016, he hadn’t come up with a solution. In fact, stablecoins had already appeared in 2016, providing the possibility of a solution.

The anonymity of the encryption circle is also an obstacle. I said this point before. Machine credibility reduces the cost of credit, but credit is needed after all. Wei Dai is generally right about the problem. He has a good instinct and thinks there is a new direction. Seeing that he has been studying artificial intelligence, he has opinions but no plans.

Wu: Satoshi Nakamoto can come out and cooperate with the government.

Yes. All the opinions that Satoshi Nakamoto couldn’t come out of the mountain were correct in the first half. The credit of the community lies in the smooth issuance of currency. Thanks for the programmer’s altruism. There are dozens of names, and their deeds are engraved in the Bitcoin Convention and Exhibition Center. It is also something that Wei Dai needs to go out of the mountain to do. Where is the address? How big is it? How much does it cost? I’m talking nonsense, it’s best to choose Beijing as the venue. That’s his hometown. It can host the Olympic Games, so the capacity of the venue and hotel is sufficient. You can have the most prosperous big pizza festival on May 22 every year.

Wu: Where did you find Wei Dai?

“LessWrong” community, both Satoshi Nakamoto and Wei Dai love the community.

Wu: When you mentioned Satoshi Auburn earlier, you said Satoshi Nakamoto would make a shiny appearance. I understand now what you meant then. A community, a voting mechanism, is the Constitutional Convention of the United States, and the parliamentary system must also have a chairperson. Satoshi Nakamoto is the chairman.

Your understanding is spot on. Satoshi Nakamoto would vote as unanimously as Washington. And, like Washington, he was forced into a chair. So I said in the preface that Satoshi Nakamoto’s free and easy days are over. The days of pain and happiness have begun. In the preface, I quoted Lao Dai’s evaluation of him, which is very interesting but not a common perception. Lao Dai understands Satoshi Nakamoto to the bone.

Satoshi Nakamoto symbolizes the times,I quote below:

“These people also work part-time and set up companies, but the wine-lover’s heart is not in the bottle. These people often put their favorite works directly on the Internet, completely open and free to use. Hidden in The vanity behind their noble faces is: How many people are using my things? Another kind of people, giving people the impression of hacker image and behavior, all like to hide from the sight of traditional society and live their lives. The days when they are free and undisturbed.” (4)

Wu: They are the people of the future society.

After reading Lao Dai’s book, we and Wei Dai are people of different eras. If I hadn’t seen him willing to change the world, I have no confidence that he would have come out. They like happy days and don’t care about fame and fortune, but they care about contributing to society, which is essentially altruism. It’s not that he can’t work; the condition is that he doesn’t move and get paid. It is selfless work. The old originator of altruism, Washington, also said there was no need for a salary. He did not regard the president as a means of making a living. Lao Dai was talking about Wei Dai’s state in 2003. His article is a collection of articles published in the “LessWrong” community in 2019, indicating that his views have not changed. However, I keep the link to the article wrong. Interested readers can search it up, and will definitely find it.

Wei Dai, no matter whether he has money or not, it doesn’t change altruism; he is still the same person. However, it is one of the sources of my confidence.

Wei Dai likes the community; the exchange of the community is the exchange of hearts and ideas, there is no difference in status, and Twitter is a fan, a supporter. Therefore, you must have a high degree of thought and fit to impress Satoshi Nakamoto. He appreciates the community, and without Washington’s emergence, would there be community civilization in the United States? When people who like the community occupy high positions, society will develop according to the model of community. Changing a great leader will make a culture more like Twitter. In the bitcoin community system, technicians only do ecological communities. There are many eye-catching things, but they are still far from perfect. It is better to let people who understand the community lead humanity.

I haven’t read Wei Dai’s more than 4,000 posts on “LessWrong.” From the information. I don’t know how much Satoshi Nakamoto’s financial level is today. When I read Wei Dai’s posts, I often felt like I was talking to Satoshi Nakamoto, and he often forgot his identity. Role-playing is not easy, and even a person with dual personalities cannot change in real-time every time. His departure was the trigger of the WikiLeaks incident. There are reports that he wanted to leave a long time ago. The two-faced person is too tired. Who can bear it for a long time? It’s okay if he’s not famous. Once he’s famous, intelligent people will look at him with a magnifying glass. The sooner go, the sooner he is free.

Wu: It’s exciting. If Wei Dai is Satoshi Nakamoto, your judgment has a high probability of him coming out. But there is still insufficient evidence to convince me. If Wei Dai is Satoshi Nakamoto, you also need to provide proof.

Let’s continue our journey of finding vulnerabilities. In the next section, I will provide SHA256, Bitcoin’s most basic encryption algorithm, to see who wrote it. My English is not good enough, so I asked a few people to proofread it. After seeing this problem, the technicians can shut up. Most people don’t understand the technology and are still unconvinced. In other words, the evidence to convince Lao Wu is not enough.


1. WEI DAI March 16, 2014


A : Does bitcoin seem cyberpunk project to you? In that case, can one expect they ever disclose identity?

Re: Not sure what the first part of the question means. I don’t expect Satoshi to voluntarily reveal his identity in the near future, but maybe he will do so eventually?

2. Wei Dai March 16, 2014


I don’t think Satoshi would have patented his ideas either, because I think he is not motivated mainly to personally make money, but to change the world and to solve an interesting technical problem. Otherwise he would have sold at least some of his mined Bitcoins in order to spend or to diversify into other investments.

3. Wei Dai February 6, 2016


“To the second link, I guess you mean to imply the monetary policy of Bitcoin is ultimately flawed due to its deflationary nature?”

That’s part of it. If decentralized cryptocurrency is ultimately good for the world, then Bitcoin may be bad because its flawed monetary policy prevents or delays widespread adoption of cryptocurrency. But another part is that cryptocurrency and other cypherpunk/cryptoanarchist ideas may ultimately be harmful even if they are successful in their goals. For example they tend to make it harder for governments to regulate economic activity, but we may need such regulation to reduce existential risk from AI, nanotech, and other future technologies.

If one wants to push the future in a positive direction, it seems to me that there are better things to work on than Bitcoin.

  • 过河卒

Over the River Soldier

戴习为著/Dai Xiwei


Electronic Industry Press,344-358, Beijing, China, April 2003

in China link

Here is our article link: https://chainless.hk/


Chinese link:


English link: https://en.bitpush.news/?s=Weisha+Zhu

Sun TV’s link is as follows:

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