Do you think Satoshi will ever spend his bitcoins? - page 2.

MoonShadow

legendary

Activity: 1708

Merit: 1010

Quote from: bigasic on August 17, 2014, 10:05:33 PM

You cannot spend or give any coins made from the genesis block.. that formed the basis for the entire blockchain ... it would be taking the H out of H20..

It's still an open question concerning the genesis block coinbase. Actually, that's not quite true. The genesis block coinbase is spendable, but since the genesis block is hardcoded, there remains doubt that doing so won't break the running network; simply because a transaction that references back to the, very non-standard, genesis block would crash the verification code. This could be fixed, if it had to be, but since this effects exactly one person on the planet (who doesn't seem inclined to do it anyway) why bother fixing a bug that isn't a real issue? It's also possible that Satoshi didn't really want this coinbase to be spendable.

wasserman99

sr. member

Activity: 476

Merit: 250

Quote from: MoonShadow on August 17, 2014, 10:01:26 PM

Quote from: zedicus on August 14, 2014, 05:04:53 PM

Another explanation for this would be the fact that satoshi was very serious about staying anon. If he did take up this offer then he would likely need to give up his identity for only $50.

No, he would not have. Are you sure you understand how Bitcoin works?

If he were to receive the $50 then he would need to give up his identity. He could transmit the TX to the other person via TOR and keep his IP address secret from the rest of the network but if he wanted to receive the fiat from the other person then the other person would need to know where to send the money.

DKMathias

newbie

Activity: 4

Merit: 0

To be honest, i dont think so. He might "donate" some, but i dont hope he is greedy

4onesea

newbie

Activity: 56

Merit: 0

Quote from: nahtnam on August 13, 2014, 10:56:57 PM

Quote from: Kayex on August 13, 2014, 10:35:32 PM

Quote from: nahtnam on August 13, 2014, 06:49:09 PM

He might have lost it!

How would Satoshi lose his BTC?
.-.
I'm VERY sure Satoshi keeps a cold storage or something of the sorts.
Or he keeps the PW safe.
He's probably just not touching it for now.

He might have lost the private keys.

That's almost impossible in my opinion, he had planned to disappear several months before and his private keys are hidden somewhere.

pabpete

sr. member

Activity: 539

Merit: 255

I don't think he will under that alias ever. He seems like a very reclusive guy and doesn't want much light on himself.

rz20

legendary

Activity: 1330

Merit: 1001

I have voted yes. Maybe in 2025,

e1ghtSpace

legendary

Activity: 1540

Merit: 1001

Crypto since 2014

It looks like "No" is winning. It used to be "Yes". This is so cool.
This thread is the most popular one I've made.

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

Quote from: bigasic on August 17, 2014, 10:05:33 PM

Quote from: MoonShadow on August 17, 2014, 10:01:26 PM

Quote from: zedicus on August 14, 2014, 05:04:53 PM

Another explanation for this would be the fact that satoshi was very serious about staying anon. If he did take up this offer then he would likely need to give up his identity for only $50.

No, he would not have. Are you sure you understand how Bitcoin works?

You cannot spend or give any coins made from the genesis block.. that formed the basis for the entire blockchain ... it would be taking the H out of H20..

I wish I could remember his name, but he has ALS, I believe and is in the latter stages but was one of satoshis main programmers and he made the first bitcoin transaction. He said in one of his posts that while he has some bitcoins, they just made his computer hot and noisy, so he didnt mine that much, so, you never know what satoshi could have done with the computers/hardware like others have suggested. There have been several people claim to have lost millions worth of bitcoin had they not sold or reformatted the hd..

His name is Hal Finney.

bigasic

hero member

Activity: 924

Merit: 1000

Quote from: MoonShadow on August 17, 2014, 10:01:26 PM

Quote from: zedicus on August 14, 2014, 05:04:53 PM

Another explanation for this would be the fact that satoshi was very serious about staying anon. If he did take up this offer then he would likely need to give up his identity for only $50.

No, he would not have. Are you sure you understand how Bitcoin works?

You cannot spend or give any coins made from the genesis block.. that formed the basis for the entire blockchain ... it would be taking the H out of H20..

I wish I could remember his name, but he has ALS, I believe and is in the latter stages but was one of satoshis main programmers and he made the first bitcoin transaction. He said in one of his posts that while he has some bitcoins, they just made his computer hot and noisy, so he didnt mine that much, so, you never know what satoshi could have done with the computers/hardware like others have suggested. There have been several people claim to have lost millions worth of bitcoin had they not sold or reformatted the hd..

MoonShadow

legendary

Activity: 1708

Merit: 1010

Quote from: zedicus on August 14, 2014, 05:04:53 PM

Another explanation for this would be the fact that satoshi was very serious about staying anon. If he did take up this offer then he would likely need to give up his identity for only $50.

No, he would not have. Are you sure you understand how Bitcoin works?

Fray

full member

Activity: 209

Merit: 100

Quote from: Kayex on August 13, 2014, 10:35:32 PM

Quote from: nahtnam on August 13, 2014, 06:49:09 PM

He might have lost it!

How would Satoshi lose his BTC?
.-.
I'm VERY sure Satoshi keeps a cold storage or something of the sorts.
Or he keeps the PW safe.
He's probably just not touching it for now.

The concept of cold storage was really not around by the time that Satochi had "left." When Satochi "left" the value of bitcoin was still very low and theft was really not a problem (theft is the reason why people use cold storage).

I would also find it very hand to believe that Satoshi would lose his private keys as he comes across as someone who would not make the kind of mistakes that would cause a person to lose their private keys.

zedicus

legendary

Activity: 966

Merit: 1004

CryptoTalk.Org - Get Paid for every Post!

Quote from: MoonShadow on August 13, 2014, 10:59:40 PM

Quote from: nahtnam on August 13, 2014, 10:56:57 PM

Quote from: Kayex on August 13, 2014, 10:35:32 PM

Quote from: nahtnam on August 13, 2014, 06:49:09 PM

He might have lost it!

How would Satoshi lose his BTC?
.-.
I'm VERY sure Satoshi keeps a cold storage or something of the sorts.
Or he keeps the PW safe.
He's probably just not touching it for now.

He might have lost the private keys.

I doubt that, but of the blocks he is known to control, I'd wager he has some special intention for those. When he was still here, he was offered $50 for a single bitcoin from the genesis block; when the going rate was under a nickel. He refused, stating that those were his legacy. That could be interpreted in many ways, but I thought s/he intended those early blocks to go to his heirs.

I would say that the bitcoin from the genesis block would mean more to him then his other bitcoin. I doubt that he would decline an offer with that much of a premium for any of his other bitcoin (as I would doubt that anyone would be wiling to pay that much of a premium for any of his other bitcoin).

Another explanation for this would be the fact that satoshi was very serious about staying anon. If he did take up this offer then he would likely need to give up his identity for only $50.

slaveforanunnak1

hero member

Activity: 743

Merit: 502

I personally think they are all gone.
I mean imagine, you are in your house making a new currency FFS. Just thinking that in 2008, 2009 must have been like thinking you are going to make a paper airplane out of a safety deposit box! Like, this is never gonna fly! Meanwhile you're mining thousands of BTC a week oh bunch of random hardware. Are you gonna back up your keys? I wouldn't. I mean come on.. this is just a game right? a proof of concept. It's not like it's going to be worth BILLIONS! who knows how many times Satoshi had to reinstall linux or replace his hard drive on his miners when BTC was zero dollars! You have to pay someone to take your coins. Are you gonna waste your time backing up keys?
so yea.. I say they are all gone to bittie heaven.

nahtnam

legendary

Activity: 1092

Merit: 1000

nahtnam.com

Quote from: MoonShadow on August 13, 2014, 10:59:40 PM

Quote from: nahtnam on August 13, 2014, 10:56:57 PM

Quote from: Kayex on August 13, 2014, 10:35:32 PM

Quote from: nahtnam on August 13, 2014, 06:49:09 PM

He might have lost it!

How would Satoshi lose his BTC?
.-.
I'm VERY sure Satoshi keeps a cold storage or something of the sorts.
Or he keeps the PW safe.
He's probably just not touching it for now.

He might have lost the private keys.

I doubt that, but of the blocks he is known to control, I'd wager he has some special intention for those. When he was still here, he was offered $50 for a single bitcoin from the genesis block; when the going rate was under a nickel. He refused, stating that those were his legacy. That could be interpreted in many ways, but I thought s/he intended those early blocks to go to his heirs.

Wow, I didnt know that. In that case, my vote still stands. He will NOT spend his BTC.

MoonShadow

legendary

Activity: 1708

Merit: 1010

Quote from: nahtnam on August 13, 2014, 10:56:57 PM

Quote from: Kayex on August 13, 2014, 10:35:32 PM

Quote from: nahtnam on August 13, 2014, 06:49:09 PM

He might have lost it!

How would Satoshi lose his BTC?
.-.
I'm VERY sure Satoshi keeps a cold storage or something of the sorts.
Or he keeps the PW safe.
He's probably just not touching it for now.

He might have lost the private keys.

I doubt that, but of the blocks he is known to control, I'd wager he has some special intention for those. When he was still here, he was offered $50 for a single bitcoin from the genesis block; when the going rate was under a nickel. He refused, stating that those were his legacy. That could be interpreted in many ways, but I thought s/he intended those early blocks to go to his heirs.

nahtnam

legendary

Activity: 1092

Merit: 1000

nahtnam.com

Quote from: Kayex on August 13, 2014, 10:35:32 PM

Quote from: nahtnam on August 13, 2014, 06:49:09 PM

He might have lost it!

How would Satoshi lose his BTC?
.-.
I'm VERY sure Satoshi keeps a cold storage or something of the sorts.
Or he keeps the PW safe.
He's probably just not touching it for now.

He might have lost the private keys.

Kayex

member

Activity: 84

Merit: 10

Quote from: nahtnam on August 13, 2014, 06:49:09 PM

He might have lost it!

How would Satoshi lose his BTC?
.-.
I'm VERY sure Satoshi keeps a cold storage or something of the sorts.
Or he keeps the PW safe.
He's probably just not touching it for now.

dadaas

sr. member

Activity: 490

Merit: 250

Super Smash Bros. Ultimate Available Now!

Quote from: williamj2543 on August 13, 2014, 06:46:22 PM

Quote from: dadaas on August 13, 2014, 06:18:47 PM

I've just noticed that current poll results are 50-50. Quite interesting when you see that 196 users voted in this poll.

I just broke that with a yes. He will eventually spend them, because when he dies no one can recover hem unless he gives the private keyto someone else. I think he will slowly give some away to help growth.

Looks like your vote has been "outvoted" by someone else because it is still 50-50 Cheesy

nahtnam

legendary

Activity: 1092

Merit: 1000

nahtnam.com

He might have lost it!

williamj2543

hero member

Activity: 588

Merit: 500

Get ready for PrimeDice Sig Campaign!

Quote from: dadaas on August 13, 2014, 06:18:47 PM

I've just noticed that current poll results are 50-50. Quite interesting when you see that 196 users voted in this poll.

I just broke that with a yes. He will eventually spend them, because when he dies no one can recover hem unless he gives the private keyto someone else. I think he will slowly give some away to help growth.

Topic: Do you think Satoshi will ever spend his bitcoins? - page 2. (Read 9416 times)