The whole network could go to hell if an entity with mass computational power joins in and starts being malicious. What about privacy? How can you spend your bitcoins without everyone knowing exactly what you're buying?
Thread #174: "Not a Suggestion"
This thread began when a user called "Red" suggested improvements to Bitcoin's privacy. Satoshi's response revealed deep thinking about privacy features that would later define Monero.
August 10, 2010
August 10, 2010
It's hard to think of how to apply zero-knowledge-proofs in this case. We're trying to prove the absence of something, which seems to require knowing all of something and that's a lot.
Key Insight — Stealth Addresses
"What we need is a way to generate additional blinded variations of a public key. The blinded variations would have the same properties as a public key and could be used to receive payments. Others could not tell the blinded public keys belong to the owner of the original public key."
This is a precise description of stealth addresses—one of Monero's three core privacy features. Satoshi described it four years before Monero implemented it.
August 11, 2010
A private key could have a counter so you can derive any number of random variations of the public key. The network would track a bunch of independent outpoints. It doesn't know what transactions or amounts they belong to.
Key Insight — Ring Signatures
"With group signatures, it is possible for something to be signed but not know who signed it."
Group signatures evolved into ring signatures—the technology that hides Monero senders by mixing their transaction with decoys. Satoshi was describing the concept in 2010.
August 13, 2010
If we have to hide transaction amounts, we'd need something like David Chaum's approach. Transactions would be split into standard denominations. You could only transact in set amounts like 0.01, 0.02, 0.05, 0.10, etc.
Satoshi's proposed denomination system was a workaround. RingCT (Ring Confidential Transactions), activated in Monero in 2017, solved this more elegantly by hiding amounts cryptographically without needing fixed denominations.
Thread #82: "Anonymity"
An earlier thread where the community debated Bitcoin's privacy limitations. Satoshi acknowledged the issue while explaining Bitcoin's design constraints.
July 7, 2010
Bitcoin is not anonymous. If you want to be anonymous, you need to take extra steps like using Tor and mixing services. The blockchain is completely public.
July 8, 2010
The possibility of a pseudo-anonymous currency is not on any regulatory radar at this point. When they notice Bitcoin, they'll focus on the normal KYC procedures at the exchange endpoints.
For privacy, it's best to use new addresses for each transaction. Your client creates new addresses automatically, but you need to remember to use them.
Satoshi's advice—use new addresses—became irrelevant as chain analysis evolved. Monero's solution: make privacy automatic and mandatory, not optional.
Thread #241: "WikiLeaks contact info?"
When the community discussed WikiLeaks accepting Bitcoin donations, Satoshi made his final public statement—and disappeared.
December 5, 2010
Bring it on. WikiLeaks should accept Bitcoin. The publicity would be huge!
December 5, 2010
No, don't "bring it on."
The project needs to grow gradually so the software can be strengthened along the way.
I make this appeal to WikiLeaks not to try to use Bitcoin. Bitcoin is a small beta community in its infancy. You would not stand to get more than pocket change, and the heat you would bring would likely destroy us at this stage.
Satoshi's Final Public Words
"It would have been nice to get this attention in any other context. WikiLeaks has kicked the hornet's nest, and the swarm is headed towards us."
After this post, Satoshi never wrote publicly again. His final private email, sent to Mike Hearn in April 2011, simply stated: "I've moved on to other things. It's in good hands with Gavin and everyone."
The Direct Line to Monero
Satoshi 2010
"Blinded variations of a public key"
→
Monero 2014
Stealth Addresses
Satoshi 2010
"Group signatures—signed but not know who"
→
Monero 2014
Ring Signatures
Satoshi 2010
"Hide transaction amounts"
→
Monero 2017
RingCT
What The Threads Reveal
- Satoshi understood Bitcoin's privacy limitations from the beginning
- He described stealth addresses, ring signatures, and hidden amounts in 2010
- Technical constraints prevented him from implementing these features in Bitcoin
- The CryptoNote whitepaper (2012) and Monero (2014) realized his vision
- Satoshi's departure coincided with increased regulatory attention on Bitcoin
- His privacy concerns proved prophetic as chain analysis became a billion-dollar industry