How could Satoshi spend any of his Bitcoins?

bergime

newbie

Activity: 4

Merit: 0

Quote from: AzureEngineer on June 05, 2017, 09:55:36 AM

It's quite possible that he simply doesn't have the private keys anymore.

This seems the most likely scenario if he is even still alive because I don't buy the whole cult like argument that satoshi is some benevolent being trying to create a utopia on earth that many bitcoin enthusiasts seem to believe in.

freebutcaged

hero member

Activity: 588

Merit: 541

Exactly the first 20,000 blocks were mined directly by Satoshi himself with the difficulty of 1 nice really, all of them are unspent but funny how

The block 20001 has spent the reward. I'd be selling 5000 Bitcoins if I were him and would keep the rest until price hits $50K and plus.

He could also sell the private keys separately to a remote buyer. even he dumps them all 1M it shouldn't concern anyone it will just lower

The price for a few days/weeks. after block 20,000 difficulty starts to increase so does it work like if you add more addresses to receive

Difficulty increases or it was changed after ASICs came out to increase it with hash rate?

mrcash02

hero member

Activity: 1190

Merit: 525

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He could spend his Bitcoins or not, it's upon to him to do it or not, but I'm sure he is being monitored by some people, always checking his address to see if something changed there. I personally wouldn't feel bad if he spend his money, he has the right to use his Bitcoins, no?

alfredgarsi

newbie

Activity: 24

Merit: 0

He would never sell them, he could hold until bitcoin were used everywhere and then he could use his coins to buy food, clothes, etc.

Kprawn

legendary

Activity: 1904

Merit: 1074

Satoshi has the knowledge to create his own mixer service. He could operate a small mixer service and then mix his own coins into the coins of

other users and then once this is done, he can close the service and wipe all records and logs. Satoshi's coins are under constant surveillance, so

once any of his coins are touched, the red flags will go up. I agree with you.... he/she should be given room to spend some of his/her coins,

without having to explain. Angry

Gaaara

hero member

Activity: 1106

Merit: 501

Quote from: jtipt on June 05, 2017, 10:05:17 AM

What's the problem, If he has the control over the private keys then he can spend "his" Bitcoin in any way as he wishes. I don't get why people would care if he uses his bitcoin, the only reaction would be that Satoshi is still active and is using bitcoin.

Totally agree, there is no reason for a person to care so much about Satoshi's bitcoin, he created bitcoin and that was a genius work but that is all, nothing less nothing more, the thing I'm interested is where would he spend his bitcoin for what purpose and for what reason.

baam25

full member

Activity: 125

Merit: 100

Quote from: freebutcaged on June 05, 2017, 09:52:07 AM

How would the community react to it and are all of his coins being monitored constantly?

definitely the genesis coins are being monitored, and I imagine it would be a huge security risk for him too. CIA, NSA, every security agency in the world probably has some sort of tracking enabled to alert them of any coin movement. Forensic tools are very powerful these days and it wouldn't be that hard to track him down.

You have to remember the amount of coins he has are probably worth BILLIONS at this point. Maybe he has alternate wallets with tons of coins as well though, and he has sold those to get some return and live a life of financial freedom. Let the genesis coins remain as they are and just tap into the other wallets he has.

Amazing to think about

jtipt

hero member

Activity: 1050

Merit: 529

What's the problem, If he has the control over the private keys then he can spend "his" Bitcoin in any way as he wishes. I don't get why people would care if he uses his bitcoin, the only reaction would be that Satoshi is still active and is using bitcoin.

TryNinja

legendary

Activity: 2758

Merit: 6830

IMO this would be ok because he wouldn't just dump his coins and end up killing his creation.

The real problem would be if the community start doubting if its really Satoshi or just someone that somehow got hold of his private keys. Maybe then, we could see some dumping because of the fear of a huge sell from this individual.

AzureEngineer

member

Activity: 98

Merit: 10

It's quite possible that he simply doesn't have the private keys anymore.

freebutcaged

hero member

Activity: 588

Merit: 541

One way or the other he will have to spent not all but at least a few hundreds of his coins, but how could he do that without exposing himself?

How would the community react to it and are all of his coins being monitored constantly? I'd like to know if people are OK if he ever decides

To spend some Bitcoins, how would it make you feel if he ever spends? or maybe he is waiting for much higher prices? personally I want him

To feel free without any pressure and transact/sell any amount, he really deserve it.

Topic: How could Satoshi spend any of his Bitcoins? (Read 487 times)