Could Satoshi burn BCH if he(they) are actually against it?

ChrisJ1989

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Quote from: dothebeats on October 04, 2018, 07:56:49 AM

Why would an advocate of digital money be roasting any other cryptocurrency just because he thinks it's wrong? If anything, Satoshi would just let it flourish and let the people decide for themselves whether they'll use it or not. The system he devised is somewhat 'democratic' in nature and no central authority controls it, otherwise he would just be governing bitcoin and be issuing all the coins like any other central bank would do. Needless to say, he will not do such; he let 'forks' happen for a reason, and he'll just let them flourish and the community decides which way would they go to further.

I guess i found it just plain dishonest and dangerous that BCH guy roger owns bitcoin website and is adamant about claiming that his is the 'real' bitcoin. I think it would be great to get a response from Satoshi in some form.
Marketing is dangerous. With product when u 'sell' it it has to be accurate in description, ingredients etc. it seems the 'sales pitch' is deceitful and being orchestrated by an intelligent but seemingly an emotionally immature spokesperson

Which is why i suggested the 'burn' option rather than selling

Pan Troglodytes

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Quote from: pawel7777 on October 04, 2018, 04:09:28 AM

Burning significant amount of coins is, in general terms, a gift to other holders and something that drives the price up. If Satoshi was to express his disdain for any forked version of Bitcoin - he would be better off just dumping it on the market (for BTC).

In practice though - any action proving that he (or anyone else) still has access to that estimated ~1 million coins of his, would cause massive panic and entire crypto-market crash, which would take very long time to recover. Also, that would increase the risk of BTC losing its dominant position.

Quote from: bob123 on October 04, 2018, 04:03:57 AM

...
But still.. this wouldn't prove that BCH is a scam. This would just show his stance regarding BCH.
...

That wouldn't prove BCH to be a scam, but that would take away almost all of its appeal - being Bitcoin as Satoshi intended.

I agree that any action executed with his BCH or BTC (be it burn or sell, whatever) is a kind of tripping the very first domino, causing a chain of reactions: price changes, attitude changes, some of them very hard to predict, all of them related to the huge volume of those transactions and their legendary originator, of course his intentions would be subjected to interpretations and reinterpretations all over again, and becoming less and less clear with each reinterpretation. In any case, it would reveal that he is alive.

If he wanted to tell people his stance on BCH and BTC (and it is a big IF) wouldn't it be simpler just to write a post clearly stating his stance? It would reveal that he is alive, of course, but the first scenario does that too. It would cause some massive reaction too, obviously, but the sheer scale would be much smaller than the completely unpredictable scale of reactions in the first scenario.

qwk

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Quote from: pawel7777 on October 04, 2018, 07:33:58 AM

Quote from: qwk on October 04, 2018, 07:15:17 AM

Actually selling the coins on the market is out of the question, that would just be calling the SWAT teams to his house.

Why though? Reporters, fanboys, maybe even mafia - sure, but why SWAT? He did nothing wrong.

Oh, they sure as hell would find some "terrorism" excuse Wink

dothebeats

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Why would an advocate of digital money be roasting any other cryptocurrency just because he thinks it's wrong? If anything, Satoshi would just let it flourish and let the people decide for themselves whether they'll use it or not. The system he devised is somewhat 'democratic' in nature and no central authority controls it, otherwise he would just be governing bitcoin and be issuing all the coins like any other central bank would do. Needless to say, he will not do such; he let 'forks' happen for a reason, and he'll just let them flourish and the community decides which way would they go to further.

Iluka

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Satoshi definitely can do it, but he woun't cause Bcash will die in near futire without any help and Satoshi activity.)

Theb

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Quote from: bob123 on October 04, 2018, 04:03:57 AM

If he really would want to harm BCH, he'd probably just dump all of his coins for BTC. Not necessarily to get the money, but simply just to crash the price.

Even with this technique I don't see BCH's price dump will be something it won't be able to rise again. The quantity that Satoshi will be dumping will still be circulating back in the market again once it is sold, most likely another whale/s or even groups of people will take advantage of the prices and will most likely do some hardcore pumping depending on how much it crashed. Most likely the price dump will only make the prices volatile in the short term but the recovery of its prices is still inevitable.

pawel7777

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Quote from: qwk on October 04, 2018, 07:15:17 AM

Actually selling the coins on the market is out of the question, that would just be calling the SWAT teams to his house.

Why though? Reporters, fanboys, maybe even mafia - sure, but why SWAT? He did nothing wrong.

Strufmbae

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It is one of the top 10 coin reigning in the market eventually, when it first appeared more investors came to believe and trust to it because it is considered as a split coin of bitcoin, as you can see it's value currently then it can't be called as underdog, maybe in the near future it can surpass eth, (just my speculation)

qwk

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Burning his BCH would obviously help BCash, as pointed out by others.
At the same time, showing the world that his BTC are a possible part of the circulating supply would harm BTC, also as pointed out before.
If anything, it'd be a statement pro BCH.

Simply moving his BCH, or signing a message with a few private keys would be a completely different matter.
On the one hand, he'd probably severely harm the BCH market, since liquidity is much more of an issue "over there" than with BTC.
On the other hand, BTC would also suffer from the looming Sword of Damocles.
All in all, it'd probably be a lethal blow to BCH and a serious crash for BTC.
All that without spending a single coin. Cool

Actually selling the coins on the market is out of the question, that would just be calling the SWAT teams to his house.
There's simply no obvious solution how and where he could sell a million BTC/BCH for Dollars or Euros without being tracked down.
Selling for Altcoins wouldn't work, either. Any Altcoin's price would skyrocket as long as he's buying and plummet to (near) worthless once he's finished.

Best case scenario:
Burn the BTC, move the BCH. Cool

mfyilmaz

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BCH was invented way later than satoshi did disappear so I guess there is no proof on wether he likes BCH or not the only thing we can do is assume. On one point if he wanted the blocksize to be 8mb why didnt he do it himself? On the other side 2009 space for data was more valuable and today you can get a lot more storage for the same money so it would be logical to aim for a bigger blocksize so we wont have a month of backlogs... if by some mystery all of the bch from the accounts we think that belong to satoshi send their bch to a burn adress this obviously would prove that he is against it, but however I dont think this will be possible as nobody heard anything from satoshi for almost a decade...

ChrisJ1989

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yeah but that's what i mean about dumping it for btc, then there's just more of a trail for them to be tracked/traced etc
If they just burn it all we can be like oh well i guess they hate those projects since the creator of BTC essentially threw it in the trash

I think they should stay anonymous if they want, but be able to weigh in in a meaningful way on the bitcoin forks developments.

I'm a bit on the fence about the whole situation but leaning less towards the forked coins legitimacy and more toward improving the current BTC with the consensus of the informed community

davis196

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I remember that,a few years ago,Satoshi supported the idea of bigger blocks and scaling.That doesn't mean that he supports and likes bitcoin cash.I really doubt that he cares anymore about bitcoin or any bitcoin fork.
"Burning" BCH is not the solution to dump the bitcoin cash price.He could just sell his coins at a very cheap rate.

pawel7777

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Burning significant amount of coins is, in general terms, a gift to other holders and something that drives the price up. If Satoshi was to express his disdain for any forked version of Bitcoin - he would be better off just dumping it on the market (for BTC).

In practice though - any action proving that he (or anyone else) still has access to that estimated ~1 million coins of his, would cause massive panic and entire crypto-market crash, which would take very long time to recover. Also, that would increase the risk of BTC losing its dominant position.

Quote from: bob123 on October 04, 2018, 04:03:57 AM

...
But still.. this wouldn't prove that BCH is a scam. This would just show his stance regarding BCH.
...

That wouldn't prove BCH to be a scam, but that would take away almost all of its appeal - being Bitcoin as Satoshi intended.

bob123

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Quote from: ChrisJ1989 on October 04, 2018, 02:07:55 AM

If Satoshi thought BCH was essentially a scam, could he prove this by dumping all his BCH and other bitcoin forks from his old Bitcoin wallets into a burn address?

He wouldn't prove anything with it.
Sending the coins to a burning address would simply just make them inaccessible.

If he really would want to harm BCH, he'd probably just dump all of his coins for BTC. Not necessarily to get the money, but simply just to crash the price.

But still.. this wouldn't prove that BCH is a scam. This would just show his stance regarding BCH.

In the end i think it is very unlikely that satoshi is/are going to touch his/her/their coins (neither BTC nor any fork of BTC).
This could create some kind of panic (e.g. 'what if he dumps all his BTC too') and probably would harm the whole crypto ecosystem. And satoshi (if he/she/they is/are still alive) does know this.

ChrisJ1989

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Quote from: Hivalley on October 04, 2018, 02:44:26 AM

Quote from: ChrisJ1989 on October 04, 2018, 02:07:55 AM

Question Guys!

If Satoshi thought BCH was essentially a scam, could he prove this by dumping all his BCH and other bitcoin forks from his old Bitcoin wallets into a burn address? i would say sell them but then there is more to track/trace him down with

Did satoshi ever claim that he,she or they thought bitcoin Cash was a scam,i do not really understand your claims in here.satoshi is nowhere to be found,i don't think we really should be discussing all this,as it's unhelpful to the forum.

Quote from: ChrisJ1989 on October 04, 2018, 02:07:55 AM

not sure if this has been discussed

Yeah you're right this hasn't and wouldn't be discussed,please lock this thread..

Good luck!!!

Not sure how to reply to this properly....how does a question make claims??? what the hell? it was a question.. ***IF*** they agreed or disagreed with the existence of BCH or the other forks from BTC would be cool to know what they think by seeing the coins they burn etc.

You are looking for a fight from a question it seems...

Hivalley

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Quote from: ChrisJ1989 on October 04, 2018, 02:07:55 AM

Question Guys!

If Satoshi thought BCH was essentially a scam, could he prove this by dumping all his BCH and other bitcoin forks from his old Bitcoin wallets into a burn address? i would say sell them but then there is more to track/trace him down with

Did satoshi ever claim that he,she or they thought bitcoin Cash was a scam,i do not really understand your claims in here.satoshi is nowhere to be found,i don't think we really should be discussing all this,as it's unhelpful to the forum.

Quote from: ChrisJ1989 on October 04, 2018, 02:07:55 AM

not sure if this has been discussed

Yeah you're right this hasn't and wouldn't be discussed,please lock this thread..

Good luck!!!

ChrisJ1989

newbie

Activity: 8

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Question Guys!

If Satoshi thought BCH was essentially a scam, could he prove this by dumping all his BCH and other bitcoin forks from his old Bitcoin wallets into a burn address? i would say sell them but then there is more to track/trace him down with

Without saying anything wouldn't this tell us which is on the right path without revealing himself? Also would let us know hes still watching from somewhere

not sure if this has been discussed

Cheers!

Topic: Could Satoshi burn BCH if he(they) are actually against it? (Read 204 times)