Topic: Satoshi has how many Bitcoins? - page 4. (Read 8743 times)
yea, but bitcoin was the first coin so the idea and concept of a premine had not yet developed and I don't believe that satoshi has any evil intentions, I believe he started it for moral and idealistic reasons
that's actually really interesting, I always thought he had so many computers because he was so passionate, I guess that makes a lot of sence
Nope.. atleast in the beginning the hash rate was extremely low. No more than 10 computers were used for mining at any given point of time during the first month. Mining picked up only in mid-2010.
Thanks for making the video, nice video!
I think it is foolish to assume that satoshi was an idealist, we know very little about him/them. No one man should control that much power, this is one of bitcoins fatal shortcomings.
that's actually really interesting, I always thought he had so many computers because he was so passionate, I guess that makes a lot of sence
It isn't at all doubtful that he mined that much. He wanted to prove the concept and he felt it absolutely necessary to secure the blockchain so nobody could come along with a really good computer and force a chain reorg. It's all about trust; he wanted Bitcoin to be trusted and therefore it had to have mondo hash power. Until other people were providing enough hashing power for him to be confident of security, he mined like crazy.
That said, he's an idealist and it isn't very likely he will actually start spending the coins.
That said, he's an idealist and it isn't very likely he will actually start spending the coins.
it's still just crazy that bitcoin is almost 5 years old soon :0
Any way I still hold my belief that he will never spend those coins
Any way I still hold my belief that he will never spend those coins
Satoshi was an idealist, it is very doubtful that he mined a hoard of BTC greater than or even equal to a minute fraction of the Winklevoss brothers or that chinese millionaire.
wait are you sure there were multiple people out there mining at the very beginning?
I agree that the first block was mined by Satoshi on 3rd January 2009. But a few days later, people were posting in blogs and forums about mining BTCs. So in the first month, there were probably dozens of miners.
Satoshi didn't premine a darn thing. He had way too much class for that.
That said, he did sic something like sixty computers on mining for the first two years of Bitcoin's life, starting when there were only about fifty people who had ever heard of his cryptocurrency protocol, only about thirty became miners in the first year, and most of them (remember, everyone is CPU mining at this point) were only using single computer.
So, yah, he's got a lot of coin. About a million by my estimate, making him the first Bitcoin Billionaire as of a few weeks ago when we poked our noses over a thousand bucks a coin. A bit less than a billionaire now that we're under the thousand again, but let's face it; he's filthy rich if he ever wants to start using his Bitcoin.
That said, he did sic something like sixty computers on mining for the first two years of Bitcoin's life, starting when there were only about fifty people who had ever heard of his cryptocurrency protocol, only about thirty became miners in the first year, and most of them (remember, everyone is CPU mining at this point) were only using single computer.
So, yah, he's got a lot of coin. About a million by my estimate, making him the first Bitcoin Billionaire as of a few weeks ago when we poked our noses over a thousand bucks a coin. A bit less than a billionaire now that we're under the thousand again, but let's face it; he's filthy rich if he ever wants to start using his Bitcoin.
Yes. Either way, bitcoin needed the people there at each step of the way for it to grow into what it is today. if there wernt people before other people, bitcoin wouldnt have ever grown. The closer people are to the start, the more deserving they are of what they have. Everyone at each and every step of bitcoins life has had a chance to buy in at its current price before the price went higher.
wait are you sure there were multiple people out there mining at the very beginning?
Does anybody here knows how many coins were premined?
None. The mining started on January 01, 2009. Not a single coin was not mined before that date. And dozens of people started mining on January 01, so we are sure that nothing immoral happened.
Satoshi did not premine this coin per say, what you have to realize is at first Satoshi was the only person on the project, then slowly people found out about bitcoin and joined him. I also find it hard to believe he would leave it in a will, even after he is dead the media would be able to tear every aspect of his life apart. I could only possibly entertain the idea that he would transfer the coins to someone maybe lol
Does anybody here knows how many coins were premined?
The world will not know who Satoshi is until his will is read. I expect he will leave his bitcoins to someone.
Yea, but if he still had the keys, it would be a temptation, how would he handle that when he knows the amount of money could feed every hungry person in the world? it's too much temptation, that's my .02 cents
One wallet with 980.000 BTC might just be a time bomb.
There is no BTC wallet with 980K coins. The richest wallet contains 144,341 BTCs and is tagged as DPR Seized Coins.
In my opinion, Satoshi is not possessing a large number of coins. He created the BTC for ideological reasons. Stashing up a large number of coins will be against his morals. https://bitcointalk.org/index.php?action=post;quote=3872220;topic=361529.0;num_replies=13;sesc=339f7086b7639151c7d5423795e2b82e
One wallet with 980.000 BTC might just be a time bomb.
There is no BTC wallet with 980K coins. The richest wallet contains 144,341 BTCs and is tagged as DPR Seized Coins.
In my opinion, Satoshi is not possessing a large number of coins. He created the BTC for ideological reasons. Stashing up a large number of coins will be against his morals.
yea but you also have to realize satoshi was very big about having a different address for each block reward, hints why we see a lot of 50BTC wallets
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