Interesting research on Satoshi and his motives and actions

TheArchaeologist

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Quote from: hatshepsut93 on July 24, 2020, 07:57:21 AM

Is there anything original in this research, or is this just a repetition of the original research?

Nah, just another click-bait from Whale Alert showing off stuff done by someone else.

Just like the "Did Satoshi just moved coins from an early mined block?" tweet from Whale Alert in May. Anything for the clicks I guess... BTW: If a headline ends in a questionmark you can be sure the answer is NO.

Wexnident

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I doubt when Satoshi made Bitcoin, he had the idea of it becoming a speculative asset as of date, and would reach such prices in the next decade. Assuming that the Patoshi did stop at 2010, then we can safely assume that the article is indeed correct in saying that Satoshi only wanted to protect his creation from a 51% attack. Judging from his actions back then, we can assume that he won't release said coins back into the market, which would only lead to a crash and possibly ruin the entire scene. We may say that the price doesn't really matter since BTC is still BTC, but hell, the market right now whether we like it or not is basically still a part of what makes BTC.

Quote from: crwth on July 24, 2020, 11:54:59 AM

Well, hats off to Satoshi Nakamoto for thinking ahead with the possible direction in which Bitcoin could be attacked. I think miners that are "honest" deserve the credit as well to help the 51% attack even more impossible. Anyways, I'm still curious about what Satoshi would do to the remainder BTC that is the byproduct of the mining that Patoshi had done? I hope to receive some of it. Lol.

He'd either just let those coins be lost forever or release them by the end, when volatility comes to a minimum so as to avoid a major change with regards to the market. The latter is kind of unlikely though, since if people were to see his coins moving, they'd probably do something and BTC price would probably rise up again for no reason other than hype.

Lordhermes

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Selling such amount of BTC would definitely crash the price of it. But since he supports the development and good reputation of what he created, he couldn't sell such because of his love for customers. If in the case he wishe to sell, then he gradually selling 5% of it yearly, can't this make the market still stable?

TimeTeller

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Quote from: rexxarofmoknathal on July 24, 2020, 05:17:04 PM

It's quite obvious that Satoshi is either benevolent, unable to access his coins, or dead.

I highly doubt he's simply playing the long game because I don't think anybody's hands are strong enough to avoid dumping anything when you've got $10 billion sitting in your wallet.

Maybe he's worried that the myriad blockchain analytics firms will hunt him down if he does so?

We can only speculate things about Satoshi because we don't know his true identity.
This is one of the reasons why Bitcoin's origin is still clouded with mystery.
But I am grateful that he created this because it is helping a lot of people across the globe.
Everyone is welcome to join this amazing community, no rich or poor, educated or not.

Oasisman

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Quote from: Lucius on July 24, 2020, 09:13:54 AM

I personally respect the fact that someone wants to remain anonymous, but also that he may no longer be alive, and I think he was personally aware of the fact that BTC has a chance to succeed only if he disappears from the scene completely. The assumption that he may have mined 1+ million BTC in the early days only helped the price go up, which he once said referring to lost coins.

Quote from: satoshi on June 21, 2010, 01:48:26 PM

Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone.

Interesting!
This only shows that no matter how much satoshi has mined during the early days, he won't gonna be touching those nor sell those Btc's. This also makes sense as to why his disappearance is essential to Bitcoin in general.
Lost coins are a deduction to the total supply in circulation, and so that obviously means shortage of supply will cause the demand to increase as well as the price value of Btc.
Satoshi will never destroy his own creation, and I always believe he won't be doing any activities on his stash ever.

rexxarofmoknathal

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It's quite obvious that Satoshi is either benevolent, unable to access his coins, or dead.

I highly doubt he's simply playing the long game because I don't think anybody's hands are strong enough to avoid dumping anything when you've got $10 billion sitting in your wallet.

Maybe he's worried that the myriad blockchain analytics firms will hunt him down if he does so?

batang_bitcoin

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Quote from: davis196 on July 24, 2020, 07:23:44 AM

What if he comes back and decides to sell everything,only to create a price crash and do some damage to all the traders and whales?

Everyone will be in dire situation as it will cause a panic.

Quote from: coin999 on July 24, 2020, 09:35:23 AM

He worked hard at being anonymous; no reason to undo that.

Can't remove the thought of the "what if" questions because we're talking about big bucks that will change your life forever. But if this is justified, he's a genius as always.

Sanugarid

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Quote from: shata on July 24, 2020, 07:11:34 AM

So even though he will dumped the market price, still, there will other people doing stuff to buy, say he can dumped right now; institutions will be very delighted. Cause currently Grayscale obtained 2% of the overall supply of bitcoin in the circulation only about a year of buying - of new bitcoin that have been mined.

Yeah I believe so, if that person dump his bitcoin it will be seen as an opportunity by the other big players in the market but I doubt if he dump all of his bitcoins price will really go down even after many of us buy at that time, coz what amount he got is so huge, and if he perfectly timing it in time that no one will believe that would be explosive to the crypto community. Grayscale is lifting the bitcoin I must say, they added 60,000+ bitcoin in a span of more than 3months about 30% of what is mined in that time range, very impressive move, that was about 500 btc bought a day. Would they be delighted if it happens? Uhmm well , maybe? since they can just buy a lot of it once it dumps but it would be very expensive from fees to rising price every buy. Would they do it if ever? no one really knows.

crwth

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Well, hats off to Satoshi Nakamoto for thinking ahead with the possible direction in which Bitcoin could be attacked. I think miners that are "honest" deserve the credit as well to help the 51% attack even more impossible. Anyways, I'm still curious about what Satoshi would do to the remainder BTC that is the byproduct of the mining that Patoshi had done? I hope to receive some of it. Lol.

Cityhunter123

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The research is really interesting, but how close are they to reality?

CarnagexD

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Quote from: The Cryptovator on July 24, 2020, 09:51:52 AM

As I am always telling that, who has created bitcoin he is more brilliant than our imagination.
His motives were to create a financial environment where we can enjoy manage our own funds without any third party involvement. We can say bitcoin give us financial freedoms, we are our own bank.

Inventing bitcoin where we can enjoy the money that we worked hard for is really an outstanding move towards financial freedom. Most of the transactions are needed to be private and these bitcoin transactions are the key for you to have that. As it is in a centralized economy, you are free to make a lot of transactions without the government's perception.

Quote from: coin999 on July 24, 2020, 09:35:23 AM

He worked hard at being anonymous; no reason to undo that.

He will really a legend towards digital currency. Satoshi Nakamoto made a coin that can secure our future depending on the market movement. He deserved a lot of credits

sheenshane

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I'm sure if Satoshi was still there he/they might be watching the progress of Bitcoin had and as a creator no one wants to put shit of what you have created. That's why Satoshi choose and remain anonymous to protect his creation if Satoshi reveals himself I don't think what will happen to Bitcoin, and might the authority will keep chasing him/them, probably it makes him decide of selling all Bitcoin he had.

If selling all this Bitcoin he had might hurt to Bitcoin and the entire users on it, of course, he doesn't. It's already gained and build the reputation, you can't undo in just a single mistake of selling or even revealing himself.

Reid

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We still have no assurance about that.
But I am glad to hear that over and over again.

Of course, he doesn't want his baby to be hurt.
He created Bitcoin with good intentions. But, do remember people could change or worse he trusted someone else with those coins and shared the private keys. That one could make a bad decision anytime.
I guess we will just know if that thing happens. It may not be now or we won't even see it happen.

The Cryptovator

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As I am always telling that, who has created bitcoin he is more brilliant than our imagination. We don't know exactly those addresses belong to Satoshi and don't know if it has been sold. But if in case he is alive and holding all of his mined bitcoin currently then I believe he will never sell it instantly. Satoshi can't destroy his own kingdom. His motives were to create a financial environment where we can enjoy manage our own funds without any third party involvement. We can say bitcoin give us financial freedoms, we are our own bank.

coin999

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He worked hard at being anonymous; no reason to undo that.

Lucius

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Quote from: Daniel91 on July 24, 2020, 06:45:59 AM

It seems to me that this research gives a very positive opinion of Satoshi, his motivation behind bitcoin, willingness to do everything he can to protect bitcoin and I think such a person will certainly not sell their bitcoins and suddenly bring down the price.
Satoshi has already shown that he cares about others and the community.
What do you think?

Most users of this forum have a positive opinion of Satoshi Nakamoto, and hardly any research can change that for the worse. The two things that are most controversial to some are his identity and the amount of BTC he mined, hence the fear that one day he will show up, sell everything (as if it were easy to dump 1 million BTC just like that) and crash the price of BTC in some three-digit numbers.

I personally respect the fact that someone wants to remain anonymous, but also that he may no longer be alive, and I think he was personally aware of the fact that BTC has a chance to succeed only if he disappears from the scene completely. The assumption that he may have mined 1+ million BTC in the early days only helped the price go up, which he once said referring to lost coins.

Quote from: satoshi on June 21, 2010, 01:48:26 PM

Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone.

ShowOff

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Quote from: Daniel91 on July 24, 2020, 06:45:59 AM

It seems to me that this research gives a very positive opinion of Satoshi, his motivation behind bitcoin, willingness to do everything he can to protect bitcoin and I think such a person will certainly not sell their bitcoins and suddenly bring down the price.
Satoshi has already shown that he cares about others and the community.
What do you think?

Bitcoin today may be very different compared to when bitcoin was made, specifically in term of price and adoption. When you are a very successful company owner, it is very unlikely that you will damage your company by selling part of your asset. Of course you will really care about the growth of your company, making it stronger and more popular. That is a very natural thing because the future of your company is a top priority. I think that also happened to Satoshi and naturally he should care about bitcoin from various aspect.

akhjob

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Quote from: davis196 on July 24, 2020, 07:23:44 AM

What if he comes back and decides to sell everything,only to create a price crash and do some damage to all the traders and whales?

Damn, that would be a dream come true for me. I will have a chance to buy quite a lot of BTC at cheap rates. Yes, it would do some serious damage to traders, but for Hodlers, I don't think that would matter as most of the hodlers are willing to take their Bitcoin to their grave. So it really doesn't matter in the long term perspective.

hatshepsut93

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Is there anything original in this research, or is this just a repetition of the original research?

Quote from: Daniel91 on July 24, 2020, 06:45:59 AM

It seems to me that this research gives a very positive opinion of Satoshi, his motivation behind bitcoin, willingness to do everything he can to protect bitcoin and I think such a person will certainly not sell their bitcoins and suddenly bring down the price.

It doesn't say anything about his motivation. We can speculate about that only based on his posts and emails.

Quote from: Daniel91 on July 24, 2020, 06:45:59 AM

It seems unlikely that the same entity would want to sell its stake in Bitcoin as this would have a bad effect on the Bitcoin network.

That was 10 years ago, people can drastically change over time. Of course there no reasons to speculate that Satoshi will dump his stash, because there was zero activity from him for all these years, but the possibility is always there, however small it may be.

davis196

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Quote

t seems to me that this research gives a very positive opinion of Satoshi, his motivation behind bitcoin, willingness to do everything he can to protect bitcoin and I think such a person will certainly not sell their bitcoins and suddenly bring down the price.
Satoshi has already shown that he cares about others and the community.
What do you think?

Protecting the Bitcoin Core blockchain network from a 51% attack and "protecting" the Bitcoin price from a price dump are two completely different things.
Yeah,Satoshi cared about Bitcoin.After all,BTC is his creation.If I created something like Bitcoin,I would do everything in my powers to protect my creation.This is just common sense.
We don't know what happened with Satoshi and we don't know his opinions about cryptocurrency traders,speculators,the whales,all the crypto exchange platforms.
What if he comes back and decides to sell everything,only to create a price crash and do some damage to all the traders and whales?

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