From Satoshi Nakamoto to SBF: Who is stealing the soul of the encryption world?

Compiled by: Zhouzhou, BlockBeats

Editor’s note: This article explores the difference between cultural builders and cultural destroyers. Cultural builders, like Satoshi Nakamoto, promote cultural development through ideals, community participation, and values, ensuring the sustainability of culture; while cultural destroyers, like SBF, pursue personal interests, exploiting culture for their own profit, ultimately undermining the foundation of the community and culture. The article emphasizes that the culture of a community is not shaped by a single event or individual, but rather by the collective efforts and protection of everyone. The power of culture comes from the defense and inheritance of its values, rather than selfish manipulation and exploitation.

The following is the original content (for ease of reading and understanding, the original content has been reorganized):

Lore is a community's shared story, symbolic system, and collective memory that tightly binds its members together. It cannot be bought; for Lore to endure, the community must deeply engage and drive its evolution. The most influential Lore is an open invitation to the community, encouraging everyone to participate in shaping its mission and destiny. Those who quietly nurture these Lores behind the scenes are the builders of Lore.

Their motivations vary: some people are "just doing it for fun", while others are driven by a strong inner mission. Regardless of the reason, all Lore builders share one commonality – what they construct is not just for themselves, but for something greater than themselves.

At the same time, there is a completely opposite class of people to Lore builders: Lorebreakers. They are self-driven and view Lore as a resource to draw energy from, rather than a cause worth contributing to. On the surface, they may appear similar to Lore builders and even behave in similar ways, but over time, their true motivations will ultimately be revealed. Lorebreakers do not see themselves as part of the story; rather, they consider themselves the center of the entire story—once personal interests are at stake, they do not hesitate to betray Lore.

As the concept of "Lore construction" is still new, we must remain vigilant and clearly delineate the boundaries between Lore builders and destroyers. It is precisely to establish this discerning boundary that this article was written. When this line is crossed, it becomes easier for us to identify who is building and who is consuming.

Among all the characteristics of these two opposing forces, the most important to remember is that successful Lore builders are the guardians of cultural memory, shaping a lasting collective identity; while Lore destroyers act like parasites attaching themselves, only seeing immediate desires, constantly draining the vitality from the Lore until it is exhausted.

What is Lore Builder

Lore builders are a class of individuals who listen, practice, and collaboratively extend mythic narratives with the community. As I mentioned in my previous article, Lore builders "can identify emerging ideas, understand their historical context, gain insight into collective emotions, and weave all of this into a coherent and engaging narrative." They are the prophets of Lore. Excellent Lore builders do not impose direction; they listen, safeguard, and remain sensitive and responsive to the natural evolution of Lore.

It is worth emphasizing that Lore builders are often not the loudest or most conspicuous person in the room. They speak and act with clear intent, often being the ones who silently toil behind the scenes—when everyone else has moved on, it is they who keep that flame alive. While their specific words and actions may vary, they all share a common core trait: being rooted in the values they believe in and uphold.

Lore builders are naturally endowed with a high degree of sensitivity and intuition. They understand the context of the Lore they create within history and comprehend what past forces have endowed it with meaning and power in reality. They can perceive the emotions and atmosphere of those around them, allowing them to determine the next direction and gain insight into what actions can truly resonate with the community.

Lore builders have an instinctive insight into the "mythical sense," able to identify those profound moments and actions—whether grand or small—and amplify and spread them at the right time. Ultimately, the perceptiveness of Lore builders stems from a vision of the future, viewing Lore as a continuously evolving living story that unfolds slowly over the passage of time.

Lore builders are essentially selfless, possessing a high sense of integrity. They set aside personal interests and serve the community in a humble guardian role, serving Lore itself rather than using Lore as a tool for self-service. They understand that Lore is a collective creation, shaped by many, and constantly evolving within the larger narrative and emotional tides. They realize that actions speak far louder than words; whether they are well known is not important, as they let their contributions speak for themselves.

Lore builders take initiative. They act without needing direction from others and feel a sense of responsibility for advancing Lore. This "proactivity" can manifest in various forms: symbolically (such as creating memes, shaping iconic symbols), narratively (writing content, "canonizing" specific events, creating characters), ideologically (taking public stances, establishing values), and can also be ritualistic (holding events, forming habits, repeating certain actions).

An excellent Lore builder knows very well when to step forward and when to wait for the right moment. Being proactive does not mean to force the development of Lore, but to step up at the right time. Every proactive move will continuously increase and expand the "density" of Lore.

Lore builders also possess patience and resilience. They understand that the formation and rooting of Lore takes time; it must deeply resonate with people and settle in the collective memory. All truly powerful Lore is gradually formed through shared experiences—whether it be laughter, struggle, or victory. There are no shortcuts to establishing Lore; it is by no means an overnight process. It must be built brick by brick, drop by drop, accumulated through concrete actions.

As long as enough time passes, a mental fortress capable of withstanding various external shocks will eventually take shape.

Ultimately, no matter what they did or how they acted, the Lore builders always regarded themselves as part of Lore—like a note in a symphony or a thread in a mythical tapestry, seemingly insignificant when viewed alone, yet indispensable to the overall form.

Satoshi Nakamoto: A Model of Lore Builders

Satoshi Nakamoto is not only the founder of Bitcoin, but he also set a standard for all subsequent Lore builders. No matter how amazing Bitcoin is technically, it could not have survived to this day without a Lore that could attract devoted believers.

Satoshi Nakamoto was well aware of the historical background that gave rise to Bitcoin. He understood the significant importance of the "cypherpunk movement" of the 1990s - which is the ideological foundation of Bitcoin. This movement sowed the seeds of "fighting for freedom with code," emphasizing that cryptographic technology is a tool for achieving individual and collective sovereignty. During that era, projects like B-Money and Bit Gold laid the theoretical groundwork for the concept of digital currency, but it was not until the "double spending problem" was solved that digital currency became truly viable on computational and economic levels.

Satoshi Nakamoto integrated these advancements in cryptography and distributed systems while staying true to the spirit of cyberpunk, ultimately creating a trustless, self-operating digital value transfer protocol. The last piece he needed was a suitable catalyst.

Then, the financial crisis erupted in 2008. Governments around the world chose to bail out financial giants while leaving ordinary citizens behind, and they printed money extensively through quantitative easing policies. These measures triggered widespread disillusionment and distortions in incentive mechanisms—profits were privatized while losses were borne by society as a whole. The systemic failure of the financial system and the collapse of public trust in mainstream institutions created an ideal historical window for Satoshi Nakamoto to release the Bitcoin white paper on Halloween 2008.

Satoshi Nakamoto's vision is very clear: to create a peer-to-peer, decentralized system that replaces state-controlled currency. No longer relying on banks, governments, or intermediaries, but solely on transactions between individuals, secured by cryptographic trust mechanisms. There is no central server, nor any individual who can be held accountable, only an open-source network that transcends borders, allowing anyone to participate.

This involvement is not limited to running a full node or contributing to the technical work of the code, but also includes active participation in the community and social aspects of Bitcoin. For example, the Bitcoin Forum "Bitcoin Talk" is where Satoshi Nakamoto is based, where he not only shares his thoughts and logic, but also guides and nurtures a community that will work together to establish cultural norms and refine Bitcoin's core philosophy.

On this forum, the philosophical concepts advocated by Satoshi Nakamoto, as well as the community's responses to these concepts, are of equal importance to the code he wrote.

For example, the total supply of Bitcoin is strictly limited to 21 million, a mechanism that deeply instills a culture of "scarcity," fundamentally protecting the community from the inflationary tyranny brought about by the excessive issuance of fiat currency—an act that has never truly received public consent. Additionally, principles such as "decentralization," "sovereign awareness," "permissionless," "neutrality," "anti-fragility," and "pragmatism" were established in Bitcoin's early culture and laid the foundation for its future development.

Satoshi Nakamoto held himself to the highest standards and became a role model for others to follow. He remained anonymous and never sought personal attention. The often-quoted slogan "We are all Bitcoin" was not a coincidence—it was exactly Satoshi's intention: to allow everyone to participate in the development of Bitcoin, because Bitcoin was destined from the very beginning to surpass any individual. The moment he handed Bitcoin over to the community was also the moment the new generation of Lore builders was born, who will continue to drive Bitcoin into the future.

The one million bitcoins in Satoshi Nakamoto's wallet that have yet to be used remain his strongest declaration. Although these bitcoins are now worth tens of billions of dollars, for him, their value is insignificant—they are measured against a fiat currency system he tried to create as an "escape route," which has already been subverted. If these bitcoins are ever sold, it will completely betray everything Nakamoto represents and destroy the spiritual foundation of Bitcoin—turning him from a Lore creator into a Lore destroyer.

Since Satoshi Nakamoto vanished from the history of Bitcoin and society, he has become a mythological figure for millions around the world, with everyone looking to his actions as a guide. Ultimately, he has become the best example for all subsequent Lore builders.

Lore Destroyer and its Consequences

Lore destroyers are those who extract and distort Lore for personal gain, manipulating the communities they are involved in to achieve this goal.

They are false prophets, shaping themselves into saviors, presenting themselves in an almost mythical way, only to eventually fall from glory in a manner reminiscent of biblical downfall. Time and again, people in the digital currency space have shown that they are easily tempted by Lore disruptors.

Humans are inherently inclined to seek saviors; everyone is looking for someone worth following, and this tendency is often exploited. If we are to continue growing and developing as an industry, we must stay vigilant, identify Lore destroyers, and bravely expose them.

Lore Breakers are typically self-driven, prioritizing themselves. Their motivation is personal glory, and they are most concerned with how others perceive them. Their mindset is "mine" rather than "ours," and their language is often self-referential. For instance, they might say, "Look at me, I am a visionary," instead of "Look at what we are building together."

Lore Destroyers are inherently short-term opportunists and toxic mercenaries. They only engage in the story when it benefits them, and once a better opportunity arises, they quickly betray the narrative. Lore Destroyers have no steadfast beliefs or positions; they will say anything to please the masses. Rather than building myths, they exploit them, distorting the Lore and ultimately serving their own personal interests.

Lore Destroyers appear to be purified and unreal. Their language sounds robotic, seeming hollow and superficial, rather than providing anything substantive. They overly optimize metrics and dramatic effects, while neglecting the substantial content and naturally listening to the direction of Lore's development.

In the end, the Lore Destroyer attempted to extract benefits from the myth as quickly as possible, ultimately leading the community into ruin and chaos. On the other hand, the Lore Builder continuously pushed for the evolution of the myth over a long period, allowing patient community members to rise together and move forward hand in hand.

SBF: Ultimate Lore Destroyer

In recent memory, one of the most notorious Lore destroyers is none other than Sam Bankman-Fried (SBF for short). From the perspective of Lore construction, he did many things right while building Lore for himself and FTX/Alameda.

He comes from a prestigious background, MIT and Jane Street, and initially entered the crypto space through Bitcoin arbitrage in Asia. He has crafted himself into a scruffy genius founder, sleeping on bean bags and living simply, but all of this is a carefully designed facade.

The philosophical framework of "effective altruism" that SBF advocates emphasizes doing the most good by any means possible, which positions him and his actions on a moral high ground. Those who follow him and the Lore he established often encounter a wealth of copy-pasted content and the iconic events he was involved in, whether it was his "saving" Sushiswap from Chef Nomi's control or his claim that "he is willing to buy all SOL at a price of 3 dollars," these are just a few examples.

SBF has cemented outside recognition, raising hundreds of millions for FTX from venture capital firms like SoftBank, Sequoia Capital, Paradigm, Temasek, Blackstone, and others, and establishing itself as the legitimate voice of the authorities. He met with regulators, testified before Congress, and positioned himself as an "acceptable face" for cryptocurrency. Cryptocurrency Twitter has been bewildered by this myth, and accounts like Autism Capital have been glorifying his image and efforts over the years.

However, the signs of Lore's destruction have long been evident. First, SBF rebuilt the system that Bitcoin and cryptocurrencies were supposed to disrupt between his business and political efforts, replacing it with a personality cult centered around himself. Ironically, he established close relationships with the institutions that Satoshi tried to distance himself from, but whether it was due to being charmed by him or because it served their interests, many chose to overlook this fact. SBF was very opaque in the transactions and structures between Alameda and FTX, which are essentially the same entity.

From the Miami Arena to posting his face on a billboard in San Francisco, claiming that he "joined crypto to do global good," SBF mimics legitimacy while undermining the mythical foundations of cryptocurrency. He disguises himself in the language of altruism, decentralization, and ethics as a front to further personal and political goals.

As a Lore destroyer, SBF viewed cryptocurrency as an industry from which to profit, rather than a space worth building. He used this myth to enhance the power of himself and his confidants, and when his empire collapsed in November 2022 with FTX filing for bankruptcy, many were abandoned and destroyed.

SBF has been convicted of multiple crimes and is currently serving a 25-year federal prison sentence, with orders to forfeit over $11 billion in assets, because he misappropriated FTX customers' deposits to support Alameda, purchase real estate, make political donations, and more. We are fortunate that he was caught; had SBF gone further, he could have become a Trojan horse, completely dismantling everything this industry has built.

Conclusion

The life and death of a community is determined by its cultural heritage, and the fate of cultural heritage is in the hands of those "cultural builders" who take responsibility and drive its development. Cultural building has always existed; it is only now that we begin to define it and distinguish between cultural builders and cultural destroyers. Culture is the lifeline of a community; while cultural builders are the wise ones who give it vitality, cultural destroyers are the vampires that drain its essence.

Culture is never neutral; it is always in a state shaped and changed by the community. Without excellent cultural builders to defend this culture, it is vulnerable to exploitation. The future of any project is not driven by code or the amount of funding, but by those who imbue it with myth and shape its culture.

Today, founders are romanticized, much like athletes. But we no longer need more founders raising huge amounts of money, nor do we need more venture capital to fund them. What we need are more guardians, weavers, keepers of the myths, and humble shepherds who play a role in preserving cultural heritage and defending it from external forces. To do this, you don't need to appear in the most dazzling way, and I wouldn't recommend that.

To become a cultural builder, you just need to care and step into your role at the right moment.