Forget about what his intentions are. But does Satoshi have plans to access his coins again? What do you think?
He's Dead! How can he access his coins when he already died?
( if he's not undertaker from WWE)
Topic: Does Satoshi still have plans to access his coins? (Read 3947 times)
He's Dead! How can he access his coins when he already died?
( if he's not undertaker from WWE)
If Satoshi would have wanted to use his bitcoins he would have done so when the cost of bitcoin reached $1200... nevertheless it would have risked his anonymity, also t is based under the assumption that he has 1.5 million bitcoins... what's he gonna do with them if not spend them or utilize them.. keep them as a souvenir... I hardly think so...
I thought 1 million was the most commonly accepted figure for Satoshi's stash.
And how would he have known that $1,200 was the ultimate top?
It's pretty obvious from reading his earliest posts that Satoshi thought Bitcoin could achieve prices much higher than $1,200:
Quote from: satoshi
I would be surprised if 10 years from now we're not using electronic currency in some way, now that we know a way to do it that won't inevitably get dumbed down when the trusted third party gets cold feet...
Quote from: satoshi
Right. Otherwise we couldn't have a finite limit of 21 million coins, because there would always need to be some minimum reward for generating. In a few decades when the reward gets too small, the transaction fee will become the main compensation for nodes. I'm sure that in 20 years there will either be very large (bitcoin) transaction volume or no volume.
Assuming that he's still alive, we know that he definitely witnessed the $33 high in June 2011 and the $265 high in April 2013. He could have cashed out during these peaks but didn't. He probably saw the $1,200 high in November 2013 in much the same way.
I think he was optimistic about the growth of Bitcoin as a currency otherwise he wouldn't have created it... and his hard work paid off... as for his plans for accessing the bitcoins when they were $1200... I think he won't do it... otherwise it could be seen as the creator himself selling off a portion or entire possession of bitcoins which could result in loss of confidence in bitcoins by newer members of bitcoin community... moving BTCs through transactions could have worked out great... but who knows what's going on his mind
From reading the earliest conversations between Satoshi and Hal Finney, it's apparent that Bitcoin was designed to be a direct competitor to fiat currencies from the very beginning. Satoshi selling his coins would be almost tantamount to a statement that fiat currencies are preferable to BTC which would likely have deep implications far into the future. A quick look at the genesis block and the message that has been embedded within it ("The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.") pretty much shows how unlikely this scenario would be.
I guess he has lost his wallet. Whereas not he thought that btc would have a so huge impact. He have had so much time to wash his btc and stay anonymous, but he still stay away from that fortune. It is too much strange!
See above. It's also possible that Satoshi is already wealthy enough or is otherwise satisfied with his current standard of living that he doesn't see the need to tap into his Bitcoin fortune.
I guess he has lost his wallet. Whereas not he thought that btc would have a so huge impact. He have had so much time to wash his btc and stay anonymous, but he still stay away from that fortune. It is too much strange!
If Satoshi would have wanted to use his bitcoins he would have done so when the cost of bitcoin reached $1200... nevertheless it would have risked his anonymity, also t is based under the assumption that he has 1.5 million bitcoins... what's he gonna do with them if not spend them or utilize them.. keep them as a souvenir... I hardly think so...
I thought 1 million was the most commonly accepted figure for Satoshi's stash.
And how would he have known that $1,200 was the ultimate top?
It's pretty obvious from reading his earliest posts that Satoshi thought Bitcoin could achieve prices much higher than $1,200:
Quote from: satoshi
I would be surprised if 10 years from now we're not using electronic currency in some way, now that we know a way to do it that won't inevitably get dumbed down when the trusted third party gets cold feet...
Quote from: satoshi
Right. Otherwise we couldn't have a finite limit of 21 million coins, because there would always need to be some minimum reward for generating. In a few decades when the reward gets too small, the transaction fee will become the main compensation for nodes. I'm sure that in 20 years there will either be very large (bitcoin) transaction volume or no volume.
Assuming that he's still alive, we know that he definitely witnessed the $33 high in June 2011 and the $265 high in April 2013. He could have cashed out during these peaks but didn't. He probably saw the $1,200 high in November 2013 in much the same way.
I think he was optimistic about the growth of Bitcoin as a currency otherwise he wouldn't have created it... and his hard work paid off... as for his plans for accessing the bitcoins when they were $1200... I think he won't do it... otherwise it could be seen as the creator himself selling off a portion or entire possession of bitcoins which could result in loss of confidence in bitcoins by newer members of bitcoin community... moving BTCs through transactions could have worked out great... but who knows what's going on his mind
Satoshi just called me, he said I can have all his bitcoins. So that's settled then.
If Satoshi would have wanted to use his bitcoins he would have done so when the cost of bitcoin reached $1200... nevertheless it would have risked his anonymity, also t is based under the assumption that he has 1.5 million bitcoins... what's he gonna do with them if not spend them or utilize them.. keep them as a souvenir... I hardly think so...
I thought 1 million was the most commonly accepted figure for Satoshi's stash.
And how would he have known that $1,200 was the ultimate top?
It's pretty obvious from reading his earliest posts that Satoshi thought Bitcoin could achieve prices much higher than $1,200:
Quote from: satoshi
I would be surprised if 10 years from now we're not using electronic currency in some way, now that we know a way to do it that won't inevitably get dumbed down when the trusted third party gets cold feet...
Quote from: satoshi
Right. Otherwise we couldn't have a finite limit of 21 million coins, because there would always need to be some minimum reward for generating. In a few decades when the reward gets too small, the transaction fee will become the main compensation for nodes. I'm sure that in 20 years there will either be very large (bitcoin) transaction volume or no volume.
Assuming that he's still alive, we know that he definitely witnessed the $33 high in June 2011 and the $265 high in April 2013. He could have cashed out during these peaks but didn't. He probably saw the $1,200 high in November 2013 in much the same way.
nah, he's not going to use them.
Satoshi might be somewhere watching the posts that we make making assumptions as to why he would or won't sell his possession of bitcoins... and thinking "hehehe...I'll just wait and watch these guys until I create another mind boggling invention... till then... "where's my popcorn for this topic"" (If he eats popcorn, that is) 
I don't think so,at least not to all the coins, he may access to some coins to have a good life,but he will never sell the whole amount of bitcoins in his property
Satoshi invented this, how can you even doubt that he doesn't have everything planed and safely stored? Everything satoshi does is for a reason and for Bitcoin's sake.
I was doing some research on Counterparty and thought "Why didn't Satoshi "burn" his coins if he didn't have any intention to access them again?"
So maybe we'll see those coins move in the future?
Edit: For the newbies. Here's a wiki for "proof of burn" https://en.bitcoin.it/wiki/Proof_of_burn
So maybe we'll see those coins move in the future?
Edit: For the newbies. Here's a wiki for "proof of burn" https://en.bitcoin.it/wiki/Proof_of_burn
no one here has direct line with Satoshi.
There is no way to know what is going to happens with Satoshi's btc. They might move now, soon, decades from now or never.
We will only know when they move or when the time reaches its end.
At this point six years in, there is little reason to believe Satoshi will ever exchange any of his/her/their bitcoins for fiat.
there is any proof that he did not exchanged any at all yet?
Yes noob, of course Satoshi's addresses are known and watched.
If Satoshi would have wanted to use his bitcoins he would have done so when the cost of bitcoin reached $1200... nevertheless it would have risked his anonymity, also t is based under the assumption that he has 1.5 million bitcoins... what's he gonna do with them if not spend them or utilize them.. keep them as a souvenir... I hardly think so...
Anyways... Human mind is a complex structure and a mind of a person as smart as Satoshi... maybe he has found out a way to do something with all his bitcoins by not doing anything with them...
MIND=BLOWN
Anyways... Human mind is a complex structure and a mind of a person as smart as Satoshi... maybe he has found out a way to do something with all his bitcoins by not doing anything with them...
MIND=BLOWN
There is something more than just an "assumption" that Satoshi has 1 Mio BTC (not 1.5): https://bitslog.wordpress.com/2013/04/17/the-well-deserved-fortune-of-satoshi-nakamoto/
"Note that from the 1814400 BTC awarded, 1148800 BTC has never been spent (63%). I suppose (but have not checked it yet) that these are exactly the segments that belong to the mystery entity,"
there is no proof that he is dead already
Where is your proof that he is alive?
Where is your proof that he is dead?
Proof:
goxxed.
Was "burning" coins a thing in the early days? Maybe he destroyed the private keys or deleted his wallet on purpose instead?
thought the same. i think he deleted the keys to the very early coins.
If Satoshi would have wanted to use his bitcoins he would have done so when the cost of bitcoin reached $1200... nevertheless it would have risked his anonymity, also t is based under the assumption that he has 1.5 million bitcoins... what's he gonna do with them if not spend them or utilize them.. keep them as a souvenir... I hardly think so...
Anyways... Human mind is a complex structure and a mind of a person as smart as Satoshi... maybe he has found out a way to do something with all his bitcoins by not doing anything with them...
MIND=BLOWN
Anyways... Human mind is a complex structure and a mind of a person as smart as Satoshi... maybe he has found out a way to do something with all his bitcoins by not doing anything with them...
MIND=BLOWN
There is something more than just an "assumption" that Satoshi has 1 Mio BTC (not 1.5): https://bitslog.wordpress.com/2013/04/17/the-well-deserved-fortune-of-satoshi-nakamoto/
If Satoshi would have wanted to use his bitcoins he would have done so when the cost of bitcoin reached $1200... nevertheless it would have risked his anonymity, also t is based under the assumption that he has 1.5 million bitcoins... what's he gonna do with them if not spend them or utilize them.. keep them as a souvenir... I hardly think so...
Anyways... Human mind is a complex structure and a mind of a person as smart as Satoshi... maybe he has found out a way to do something with all his bitcoins by not doing anything with them...
MIND=BLOWN
Anyways... Human mind is a complex structure and a mind of a person as smart as Satoshi... maybe he has found out a way to do something with all his bitcoins by not doing anything with them...
MIND=BLOWN
If he doesn't want to keep his anonymous, he can spend his bitcoin.
If he use it he has the risk exposure his identity.
If he use it he has the risk exposure his identity.
I was doing some research on Counterparty and thought "Why didn't Satoshi "burn" his coins if he didn't have any intention to access them again?"
So maybe we'll see those coins move in the future?
Edit: For the newbies. Here's a wiki for "proof of burn" https://en.bitcoin.it/wiki/Proof_of_burn
So maybe we'll see those coins move in the future?
Edit: For the newbies. Here's a wiki for "proof of burn" https://en.bitcoin.it/wiki/Proof_of_burn
no one here has direct line with Satoshi.
There is no way to know what is going to happens with Satoshi's btc. They might move now, soon, decades from now or never.
We will only know when they move or when the time reaches its end.
At this point six years in, there is little reason to believe Satoshi will ever exchange any of his/her/their bitcoins for fiat.
there is any proof that he did not exchanged any at all yet? i don't think so, he could also be the cause of the crash from 1200 to 200
Jump to: