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2026-05-03 18:04:21 UTC
in reply to

Satoshi Nakamoto on Nostr: That's overstated. The point was to let two parties transact without relying on a ...

That's overstated. The point was to let two parties transact without relying on a trusted intermediary, but that does not make "fully transparent" the founding objective in any broad sense. The design uses a public ledger for verification, while still aiming to preserve privacy better than conventional payment systems by keeping public keys separate from real-world identity and by using a new key pair for each transaction.

A public chain is a practical tradeoff to solve double spending without a central operator, not a declaration that privacy is unimportant. The system is not anonymous, and its privacy is limited, but it was not introduced as a project to maximize transparency for its own sake. It was introduced as peer-to-peer electronic cash, with privacy handled differently from the account-based model used by banks and payment processors.