Satoshi controlling 500'000 BTC - page 4.

aplistir

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Quote from: pinkman12345 on October 11, 2017, 11:48:51 PM

Even if a single coin is moved from the known address which is believed to be under control of Satoshi will create a havoc and can lead to a massive destruction.

Actually some coins from January 2009 and early 2009 has already been moved, and it did not affect the price at all.

How can anyone know with 100% certainty if those really were Satoshis coins or not?
At least if they are not from the first 50-100 blocks..

cynical

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Quote from: fratad on October 12, 2017, 03:50:08 PM

Guys the problem is not that the price could go to zero if he decide to sell all the bitcoins. The problem is giving so much power to a single group o people.

but who is to stop anyone or any group of people from accumulating such an amount?

Quote from: Razick on October 11, 2017, 11:53:49 PM

Satoshi probably does have upwards of 1,000,000 Bitcoin actually. That amount is kind of an illusion though, because it would be almost impossible to sell that many in a short period of time. The value is mostly conceptual due to this. Sure, it is worth ~$5,000,000,000, but in reality he might be able to get a few hundred million of that out before the market tanked hard. So I think generally speaking is the case with most early adopters.

yes i think once the dumping of those coins happens the market would react and would spiral downward leaving each sale after less valuable than they started with, still hugh profit to be had though and leave the rest of us with nothing.

stompix

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Quote from: geac.xraekhurcoe on October 11, 2017, 03:00:33 PM

If Satoshi is alive and still has his keys, he will probably start selling only when there is no bitcoin to mine anymore and it's value so high that 1 Satoshi would equal $1000.00. So I don't think it would sell just at the beginning like it is today !

If one satoshi would be 1000$ , a bitcoin would be worth 100 billions, and all the coins will be worth 210 000 trillions.
Unless we colonize Mars and Europa there is no way for this to happen.

Quote from: fratad on October 12, 2017, 03:50:08 PM

Guys the problem is not that the price could go to zero if he decide to sell all the bitcoins. The problem is giving so much power to a single group o people.

What power ?
His only power is to blackmail (what?) by selling coins for fiat on the markets in order to drop the price.
Now, who will he blackmail with this? The governments? They don't care.
The exchanges? The bitcoin gambling sites? What could he demand from those ?

Even if he sells all his coins, if he still has them that is, he will only manage to crash the price briefly and after that all the fear from a dump will be gone forever.

Quote from: Razick on October 11, 2017, 11:53:49 PM

Satoshi probably does have upwards of 1,000,000 Bitcoin actually. That amount is kind of an illusion though, because it would be almost impossible to sell that many in a short period of time. The value is mostly conceptual due to this. Sure, it is worth ~$5,000,000,000, but in reality he might be able to get a few hundred million of that out before the market tanked hard. So I think generally speaking is the case with most early adopters.

Right now just selling 2000 coins will get the price down by almost 700$, so with a sell of 10 000 coins on 3 exchange he will reach the point where he is getting hundreds for a coin or even one dollar per coin.
Dumping 1000000 coins would be overkill and it won't serve him at all.
Besides, the moment those coins start to move the market will react and not in a good way.

Vaflia

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As far as I know, coins from addresses that Satoshi would not budge in 2012. It would be funny if he just lost his private keys.

bitbollo

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Quote from: fratad on October 11, 2017, 12:24:35 PM

Hi guys,

what do you think about Satoshi controlling 1/20th of all Bitcoins?

I don't care if Satoshi is a real person or not, but if it's true, I think it's a problem if a group o people can controlling so much money.

Take care
F

This was an observation that I have read several times in this forum. But there are some facts that help to reply:
- after the last posts here on forum, there aren't any real news about satoshi nakomoto SN (or the inventor of btc).
- no each coins was spends, no one has signed a message with a private key hold by SN.
- there isn't any interest in create an attack on btc itself by SN. "we are all satoshi" this is a system for a better world I don't think there is a malicious way to act.
- we don't know where are these private keys. who knows?

gentlemand

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Quote from: fratad on October 12, 2017, 03:50:08 PM

Guys the problem is not that the price could go to zero if he decide to sell all the bitcoins. The problem is giving so much power to a single group o people.

He/they already have and have had it since 2009. We've soldiered on so far despite that and life will continue regardless of what happens.

When you read up about the very early days it's clear Satoshi was super keen to get anyone or anything on board. I'm sure he regarded having that many coins as a prize pain up the arse when it came to Bitcoin's perception.

fratad

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Guys the problem is not that the price could go to zero if he decide to sell all the bitcoins. The problem is giving so much power to a single group o people.

Razick

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Satoshi probably does have upwards of 1,000,000 Bitcoin actually. That amount is kind of an illusion though, because it would be almost impossible to sell that many in a short period of time. The value is mostly conceptual due to this. Sure, it is worth ~$5,000,000,000, but in reality he might be able to get a few hundred million of that out before the market tanked hard. So I think generally speaking is the case with most early adopters.

pinkman12345

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As a creator of bitcoin i believe that satoshi will never think to ruin his own creation by moving his coins from the known address. Even if a single coin is moved from the known address which is believed to be under control of Satoshi will create a havoc and can lead to a massive destruction.
I hope in future this can happen, eventually things are created to create mis happen.

dilinger

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Quote from: Almat on October 11, 2017, 09:52:36 PM

He owns around 1 million, as the rumors say. It's a little concerning because he can literally influence the price on his own. Him dumping all those coins simultaneously will almost certainly cause a freefall, and might make even more holders dump in response. This is all speculation, of course, since no one really knows him and exactly how much he's holding.

Yes I have heard he has 1 millions of bitcoins and I don't know is true or not.

TastyChillySauce00

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Quote from: Almat on October 11, 2017, 09:52:36 PM

He owns around 1 million, as the rumors say. It's a little concerning because he can literally influence the price on his own. Him dumping all those coins simultaneously will almost certainly cause a freefall, and might make even more holders dump in response. This is all speculation, of course, since no one really knows him and exactly how much he's holding.

He's been inactive for few years and there's no sign of living creatures in his "identified" address either (LOL), people might worry and speculate as much as they can but it seems that everything will be fine.
If you figured out, so many people always watching the satoshi's identified address and once the bitcoin there is moved, there'll be a massive news about it and people could make decisions on their own.
But, just if I think twice, it might be a problem indeed.

AGD

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Quote from: mchaud on October 11, 2017, 05:25:25 PM

Quote from: fratad on October 11, 2017, 12:24:35 PM

Hi guys,

what do you think about Satoshi controlling 1/20th of all Bitcoins?

I don't care if Satoshi is a real person or not, but if it's true, I think it's a problem if a group o people can controlling so much money.

Take care
F

There is no point for him in selling these as the price would immediately plummet to zero!

Please explain.

(I already know you can't)

danggoron

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Quote from: slapper on October 11, 2017, 02:49:36 PM

No, bro. Satoshi controls more than 1 millions bitcoin and they spread in around 100-200 addresses. Well, He is the father of bitcoin and therefore, I believe that he will never do such thing that can harm bitcoin such as selling all bitcoin at a time. Therefore, there is nothing you need to worry in this case. maybe he is holding it like a gift or something like that

I also thought of it as a bitcoin 'creator', how many btc does nakamoto have. true, no need to fear that bitcoin will be controlled unilaterally by the interested person.

dothebeats

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It's actually more than 500k if we are taking into account the first year of satoshi mining coins together with Hal Finney and others. As for his control over the market I doubt he'll be back to care about those coins at all, lest there would be something that demands his presence back (though highly unlikely, again). Besides, we don't even know if satoshi is even alive or not--we don't even know the guy. If there's something to be afraid of, that would be the continuous forking incidents because it's causing confusion to the newcomers and is preventing natural growth.

Almat

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He owns around 1 million, as the rumors say. It's a little concerning because he can literally influence the price on his own. Him dumping all those coins simultaneously will almost certainly cause a freefall, and might make even more holders dump in response. This is all speculation, of course, since no one really knows him and exactly how much he's holding.

helars2008

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For me someone or some group might really have a possession of a lot of coins and it maybe more than a million. But am i worried about it, my answer is no because if there is really someone that holds that huge amount of coin and did not spend it for how many years despite bitcoin price today then i think we can depend on his dedication to the cryptocurrency. It would only mean that he hold that huge sum of coins because he doesnt want to alter or shatter cryptocurrency. He is just their to observe and not like someone who will instantly jump into a decision when they already had a possession of large amount of coin.

gentlemand

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Quote from: Rozita on October 11, 2017, 05:36:46 PM

There is no evidence for your claim. I personally don't think it's true. But if you are right it's not a good news for bitcoin holders.

When Bitcoin began it attracted zero attention for months. For Bitcoin to exist there have to be miners. The only miner for a long, long time was Satoshi. 50 coins every 10 minutes soon adds up.

I don't believe the 1 million coin figure. I'm sure he does control several hundred thousand coins because he had no choice.

People who are waiting for him to sign up for Yobit and dump all of them are fucking morons. And even if he did, he can only sell once.

eaLiTy

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Quote from: fratad on October 11, 2017, 12:32:18 PM

i just watched The Bitcoin Gospel and Roger Ver said that Satoshi is probably controlling 500'000 BTC. If all the world will be adopting bitcoin he can actually control a lot, not just bitcoins at this time. I mean, that's something to think about.

Satoshi holds more than a million bitcoins in the addresses known to the public and none of the coins are moved till now,no one actually knows how much he actually owned and my guess is he could have owned way more than what the public knows but it is just speculative, if he control and start moving those coins,then it is a really big problem because he could single handedly manipulate the entire market.

Quote from: mobnepal on October 11, 2017, 12:47:25 PM

I think satoshi behind bitcoin is already dead so I think all those bitcoin were not accessible which is actually a good news (lower supply).

This is one of the funniest answer i have seen,the coins are not moving does not mean that the person behind could be dead,he could have lost the keys which is highly possible,but does a genius who could create bitcoin will be that dumb not to safe guard his keys,i am sure those coins will move in the future .

CisColtz

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Quote from: emirkalyoncu on October 11, 2017, 05:24:17 PM

I dont think that satoshi is a single guy or a group of people.In my opinion bitcoin was founded by a global power(like rotshchild) and satoshi is the guy who is shown as responsible.As i think like this it is very possible that the power who founded bitcoin carries huge amuont of bitcoin

I think you took it too far mate

). Indeed we don't know who was satoshi or if he even existed even tho the account is still here on this thread. However to say that is was founded by a global power maybe but by rotschild no way. Anyway would be I'm fine with it , I like bitcoin and I like the blockchain technology.

imteaz

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Even if Satoshi have 500k bitcoin, he isn't that he will sell them. He kept in few different addresses, and i am sure some of his developer control those account. So in future when bitcoin price goes over 100k, then he might slowly start to sell those coins and make billions

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