Satoshi Nakamoto’s Key Bitcoin Statement Turns 15: ‘Not Having BTC Would Be Net Waste’

Today is 15 years since the mysterious Bitcoin creator, Satoshi Nakamoto, made an important statement about the future of BTC and crypto exchanges.

Major crypto analytics X account Crypto Rand has issued a reminder to the global crypto community about this.

Satoshi Nakamoto’s prediction about Bitcoin and exchanges

The aforementioned crypto X account shared an image that cites the statement made by Satoshi exactly fifteen years ago – on August 7, 2010.

Satoshi then predicted the creation of various electronic platforms for trading Bitcoin – crypto exchanges. He was certain that their utility would be much higher than the electricity used for their running. This would make Bitcoin a great source of profit: “Therefore, not having Bitcoin would be the net waste.”

The issue of electricity consumption related to Bitcoin, though in the sphere of mining and not exchanges, was particularly acute several years ago when many opponents from both traditional finance, Greenpeace, and even the Ripple crypto giant, criticized Bitcoin miners for consuming giant amounts of electricity for sustaining the BTC network.

That controversial issue even drove tech mogul Elon Musk to shut down a Bitcoin payments option that he launched in Tesla a couple of months before that in 2021.

Community launches a Satoshi statue petition

As reported by U.Today earlier, Bitcoin advocate Samson Mow shared a link to Change.org and a page of the petition set up by Bitcoiners to urge the restoration of the Satoshi Nakamoto statue that was recently vandalized in Switzerland. That was the very first Satoshi monument erected in the world.

Recently, the statue went missing in the Swiss city of Lugano and was later discovered in Lake Ceresio – it had been torn off the base and thrown into the lake. Now, a local community of Bitcoiners says that the original author of the statue, Valentina Picozzi, will restore it at her own expense. The only thing they ask for in the petition is that the new statue be exhibited safely.