Topic: Fork and Destroy Satoshi's 1 million Bitcoin? (Read 14353 times)
Your proposal is not ok. Satoshi create bitcoin and he should do what he want with his bitcoin, without him i think we never had crypto coins so let the things go on and don't worry, Satoshi will never dump his bitcoin.
What will happen in case he suddenly re-appear after 1-2 years? He is the creator of Bitcoin, and we need to show our respect for him. And as long as these coins can't be spent, it can have a positive effect on the exchange rates. And I guess this is beneficial for all the users, with the exception of those traders who engage in short-selling.
The impact will be big, but real Satoshi if really exist won't harmed it's own creations, he will rather to keep being anonymous and holds those coins with him instead of showing up and create doubts that he will dumped all those coins that he's keeping and make a huge downfall. Bitcoin should be forked and Satoshi's 1 million Bitcoin destroyed completely, if he really owns that much.
A sudden withdrawal of of 1 million (or large gradual withdrawals) should be regarded as an attack on Bitcoin.
Or it should be frozen for now until developers are sure no one is going to withdraw the whole thing and crash the market.
A sudden withdrawal of of 1 million (or large gradual withdrawals) should be regarded as an attack on Bitcoin.
Or it should be frozen for now until developers are sure no one is going to withdraw the whole thing and crash the market.
We don't know exactly who satoshi is, we don't know every of his addresses and how much bitcoin he holds. We also don't know the miner said to have 1 million bitcoin is really satoshi. And I don't believe we can just fork to destroy that coins without going back in the past i.e. about the time of bitcoin origin.
What will happen in case he suddenly re-appear after 1-2 years? He is the creator of Bitcoin, and we need to show our respect for him. And as long as these coins can't be spent, it can have a positive effect on the exchange rates. And I guess this is beneficial for all the users, with the exception of those traders who engage in short-selling.
The impact will be big, but real Satoshi if really exist won't harmed it's own creations, he will rather to keep being anonymous and holds those coins with him instead of showing up and create doubts that he will dumped all those coins that he's keeping and make a huge downfall.
I think it's none of our business, we should show gratitude to the man by giving us something great and life-changing, even if he sold it all and crash the market, it will eventually get up, if he did it, more people will earn more Bitcoin, because there will be many bitcoin in circulation.
What will happen in case he suddenly re-appear after 1-2 years? He is the creator of Bitcoin, and we need to show our respect for him. And as long as these coins can't be spent, it can have a positive effect on the exchange rates. And I guess this is beneficial for all the users, with the exception of those traders who engage in short-selling.
Bitcoin should be forked and Satoshi's 1 million Bitcoin destroyed completely, if he really owns that much.
A sudden withdrawal of of 1 million (or large gradual withdrawals) should be regarded as an attack on Bitcoin.
Or it should be frozen for now until developers are sure no one is going to withdraw the whole thing and crash the market.
A sudden withdrawal of of 1 million (or large gradual withdrawals) should be regarded as an attack on Bitcoin.
Or it should be frozen for now until developers are sure no one is going to withdraw the whole thing and crash the market.
Why should we punish him for something that he did not do he is wiser than an idiot like you, of course he will not crash the market by doing that, if he has an intention to do that, he would have done that when Bitcoin was at it's on all-time high, and besides that his share, he has the right to do whatever he wants to do with it.
Forks don't destroy coins, what forks does is chain split which gives the new chain some attributes of the old chain. We all should be grateful to satoshi anything he does with his tokens shouldn't be our concern.
Forking bitcoin will not be a solution to your perceived problem, if bitcoin is forked it can only affect the price for the main time but the original bitcoin will still maintain it dominance, and if you see withdrawal of 1 million bitcoin from santoshi wallet as an attack on the general bitcoin market also ask your self that this man developed and operate the bitcoin network Alone and can do whatever he wishes at any time.
A sudden withdrawal of of 1 million (or large gradual withdrawals) should be regarded as an attack on Bitcoin.
How is withdrawing 1 million BTC an "attack" on bitcoin? It's Satoshi's money. Let him do whatever he wants with his money. He can spend it all on blackjack and hookers and hell do I care how he wants to spend it.
yes you are right, indeed that is his money. but if all the BTCs that he has are sold to the market, can this not cause turmoil. this will make a dump worse than last year.
It is creating a large market I means business market. satoshi should not withdraw this large number of btc because million investor is faced odd by this withdrawn.
I don't care how much money satoshi really had, but people want to destroy his money is beyond crazy. what if it was not his money and someone else (like a whale) able to gather 1 million bitcoin, will people still going to destroy that money
It is definitely not crazy
And even less it is beyond crazy. It is just human nature at work, envious and greedy. The difference is that destroying (burning) coins on the blockchain looks like a feasible and actually doable thing, technically speaking (unlike stripping somebody of their wealth via "conventional" means). That's basically why people go wild over this idea. So it doesn't really matter if it is Satoshi's coins, some obscure whale's stash, or even their (thy) neighbor's money (in the latter case the destruction of these coins would feel very much like an ultimate act of justice)
I don't care how much money satoshi really had, but people want to destroy his money is beyond crazy. what if it was not his money and someone else (like a whale) able to gather 1 million bitcoin, will people still going to destroy that money. it's his money and let him do whatever he wants and I am sure everyone even Satoshi himself understands that withdrawing 1 million bitcoin is not possible on any type of market. we are not kids anymore no one is going to be doing like that.
Bitcoin should be forked and Satoshi's 1 million Bitcoin destroyed completely, if he really owns that much.
A sudden withdrawal of of 1 million (or large gradual withdrawals) should be regarded as an attack on Bitcoin.
Or it should be frozen for now until developers are sure no one is going to withdraw the whole thing and crash the market.
A sudden withdrawal of of 1 million (or large gradual withdrawals) should be regarded as an attack on Bitcoin.
Or it should be frozen for now until developers are sure no one is going to withdraw the whole thing and crash the market.
I mean the fed could just print a bunch of money and crash the price to 0 if they wanted to. they would buy it all up and just sell it at a loss... they don`t care.
Leave satoshi`s coins alone, he or she earned them just like everyone else, sure he/she had mad advantage because of higher rewards but still it is the same with gold, whoever was there first collecting had a bigger advantage because scarcity was less common.
Also in the future it will reveal who satoshi is when they move the coins.
if he really owns that much.
Uh huh. How will you decide what is 'really' his and what is someone else's?
Why not get rid of all coins mined before 2017? The people who mined them were probably dicks compared to all the cool dudes we have now
I have a better idea
I don't suggest burning all those coins (prior to 2017, 2018, 2019, whatever...) as this is an obvious overkill but why not announce sort of "bank holidays" (let's call it blockchain holidays), so that no one of the old holders (say, older than a month) can move their coins anywhere. In this way, we will be leveling out the playing ground for newbies
We can even go as far as to set the length of these holidays depending on how old your stash is. For example, if you kept the coins for 7 years, your won't be able to touch them for 7 weeks (7 months would do even better). What do you guys think of this idea? Will it help Bitcoin adoption?
if he really owns that much.
Uh huh. How will you decide what is 'really' his and what is someone else's?
Why not get rid of all coins mined before 2017? The people who mined them were probably dicks compared to all the cool dudes we have now.
Bitcoin shouldn't be forked, forking usually going to create a problem in the market and create more unnecessary coin into the market, and Satoshi also won't be that stupid to destroy its own coin by selling the coin in a huge bulk, and it can't be consider as an attack, everyone got the right to sell the coin no matter how big is the amount
I really don’t think anybody needs to worry about Satoshi’s bitcoin’s. He could be dead for all we know. The price hit near 20k USD & he sold nothing so even if he’s alive bitcoin is his work, his art, his masterpiece. I don’t think he would crash the price by selling.
Its not the right time to do that i guess and i believe Satoshi is not dead yet and he’s still working behind the scene. He will not crash the price because he wanted bitcoin to be on the main market so i think he will still hold that bitcoin until we reach the moon.
Leaving them for now makes the most sense. Maybe later freeze them.
Maybe Satoshi has just send them to addresses where he doesn't own the private keys. Mean these coins are lost forever and we don't need to speculate and worry what happens when he's going to send or sell them. And if it's not the case I can guess he won't ever sell them because that wouldn't make sense to come back, when Satoshi left, everything was well planned.
The price hit near 20k USD & he sold nothing so even if he’s alive bitcoin is his work, his art, his masterpiece.
I think he isn't in for the money and doesn't plan to sell if BTC reaches x USD. Jump to: