Satoshi isn't that rich. | Bitcointalksearch.org

Zionatin

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Quote from: Yatsan on May 24, 2020, 08:19:43 PM

Quote from: Zionatin on May 24, 2020, 06:43:40 PM

If the bitcoin network "clearly shows" Satoshis transactions then we know what wallet belongs to him -_-
Which we do not. So what are you talking about? I don't think you understand what you are saying. 500 btc is not going to drop the price by thousands. Do you even know how much bitcoin moves everyday?

Quote from: rathaha10 on May 24, 2020, 06:37:37 PM

Quote from: BlackHatCoiner on May 23, 2020, 04:47:20 PM

It's known that he may have a million BTC in his possession. The bitcoin network clearly showed that if satoshi makes transactions the price drops. Even if he is not satoshi, big transactions from old generated blocks is creating a trouble in the market.

If satoshi sells 500BTC price may drop 2-3k dollars. So he is not that rich, isn't he? Tongue

Lol, i can't agree more...

If a huge bag of bitcoin is released into the market, we will surely experience a huge downtrend, i don't know if I'm to believe that is due to the current bear market condition or bitcoin isn't having much liquidity as it seems. It is a sure fact that if he decided to liquidate all his holding today, he might just be able to realize something more than half the supposed worth of his holding which surely shows that he isn't as rich as he seems

More crap? What the hell down trend are you talking about? The market is not a bear one. Not for bitcoin anyway. Check the charts. Liquidity? Lol you really just using words you do not understand now.
So you just think he is not that rich because the OP says so? Mkay...

It can trigger a downtrend if satoshi is gong to dump some of his bitcoin. In theory satoshi owns at least a million of bitcoin and if the market dump at least 500$ we all know that it will cause a panic to the whales and can lead to downtrend, of vise versa, if the bitcoin dump that hard maybe the other whales are going the buy it and make an upward trend.

Satoshi is the creator of bitcoin so I think he is holding at least a million. But all of this will be invalidated if satoshi sells his bitcoin in the past. As long satoshi is not selling a huge amount of bitcoin then, we are all fine.

Eh.... I think it will be fine. There will be people buying as well. There are still many people adopting bitcoin. With each one sold more will buy. I doubt Satoshi will sell his bitcoin he doesn't need to. It;s like selling your own baby. It's just emotion that could possibly start the downtrend. I don't give in to these emotion this is why I do not keep up to date with politics which is basically gossip and FUD.

crwth

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If there are a lot of people who show support with Bitcoin, there wouldn't be a problem for sure. Personally, I would gladly buy more Bitcoins when that price comes into play. More possible BTC in the long run, right? That's the goal, earn more.

Quote from: BlackHatCoiner on May 23, 2020, 04:47:20 PM

If satoshi sells 500BTC price may drop 2-3k dollars. So he is not that rich, isn't he? Tongue

Not That Rich is okay rather that not rich, IMO. If you have those in your possession then it's a great blessing in the first place.

P.S. Is this really controversial? We don't know who they/he/she is???

DoubleEdgeEX

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If you have a lot of one thing but you can´t sell it, you are rich but can´t use your fortune. If Satoshi really want to sell some of his coins, he should do it OTC so it´s not visible on the orderbooks of exchanges, no matter if centralized or not. The easest way would be to transfer them to a hardware wallet and sell the wallet and eventually let the buyer find out a way to blocktrade the single coins for fiat money.

20kevin20

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Quote from: gentlemand on May 24, 2020, 04:24:10 PM

~

The idea of him dumping on Yobit or handing everything over to Jamie Dimon is laughable. I fully expect no identifiable coin of his will ever move.

But if I were another early miner I would have moved and stirred my coins as soon as it became clear that the train had left the station. The intense scrutiny of the coins I was about to blow on a Lego Millennium Falcon as a reward for my patience would give me an ulcer.

As he wouldn't ever use a centralized exchange to cash in his potential fortune, we also wouldn't even notice a thing in the markets in case he decides to sell besides the scared weak hands thinking selling the first coins means the end of Bitcoin.

Never done a smart contract with locktime on BTC so I am really wondering whether you could set a locktime for your mined coins and if yes, if that would be transparent for anyone to see or only the miner would know. If I was an early miner, maybe that's something I would've done if I ever wanted to force myself not to move anything for a long while.

I had the thought a few times to set a locktime on my txs in order to forcefully control my emotions when I was a very weak hand, but what made me back out of that idea is the fact that in case Bitcoin ever dies with very clear signs of it, I'd be forced not to move anything and watch my balance and Bitcoin's price effectively die out right in front of my eyes.

Debonaire217

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Quote from: BlackHatCoiner on May 23, 2020, 04:47:20 PM

It's known that he may have a million BTC in his possession. The bitcoin network clearly showed that if satoshi makes transactions the price drops. Even if he is not satoshi, big transactions from old generated blocks is creating a trouble in the market.

If satoshi sells 500BTC price may drop 2-3k dollars. So he is not that rich, isn't he? Tongue

What about other ways to sell his bitcoin? Such as selling the wallet itself, meaning that he doesn't need to enter the market and to broadcast his transaction and probably will not affect the price of bitcoin. We know, that he created bitcoin and probably he also know what is the most anonymous way to transact using it.

That is just my opinion, but I think he considered to hodl BTC for the sake of BTC's development, and doing the exact same thing from what I've just stated in the first paragraph will just disregard the capability and proper usage of bitcoin.

imstillthebest

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im kinda bit confuse on your point op . you said satoshi isnt rich but then you said if what if he sold 500 btc worth of cash , thats alot .

this does not count that he also have other btc because he invents btc .

500 btc worth of fiat is too much and i dont think this will only affect 2k to 3k dollars in the price of btc but it can affect more than that .

seoincorporation

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Quote from: BlackHatCoiner on May 23, 2020, 04:47:20 PM

...

If satoshi sells 500BTC price may drop 2-3k dollars. So he is not that rich, isn't he? Tongue

If satoshi sells those bitcoins i think the price would crash much more, because all the investors will run away if a whale with 1M bitcoins joins to the game, is a losing game for the ones who stay there.

gentlemand

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Quote from: rathaha10 on May 24, 2020, 06:37:37 PM

Lol, i can't agree more...

If a huge bag of bitcoin is released into the market, we will surely experience a huge downtrend, i don't know if I'm to believe that is due to the current bear market condition or bitcoin isn't having much liquidity as it seems. It is a sure fact that if he decided to liquidate all his holding today, he might just be able to realize something more than half the supposed worth of his holding which surely shows that he isn't as rich as he seems

If Satoshi had a head injury and decided it was time to dump only a flat out moron would sell a significant amount on an exchange. He would have OTC buyers chewing his arm off. There would never, ever, ever be another opportunity to buy in quantities that large again. Not a single coin would hit the open market.

The biggest danger to price would not be the selling, it would be the hit it took when coins moved from the handful of addresses linked to him.

Yatsan

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Quote from: Zionatin on May 24, 2020, 06:43:40 PM

If the bitcoin network "clearly shows" Satoshis transactions then we know what wallet belongs to him -_-
Which we do not. So what are you talking about? I don't think you understand what you are saying. 500 btc is not going to drop the price by thousands. Do you even know how much bitcoin moves everyday?

Quote from: rathaha10 on May 24, 2020, 06:37:37 PM

Quote from: BlackHatCoiner on May 23, 2020, 04:47:20 PM

It's known that he may have a million BTC in his possession. The bitcoin network clearly showed that if satoshi makes transactions the price drops. Even if he is not satoshi, big transactions from old generated blocks is creating a trouble in the market.

If satoshi sells 500BTC price may drop 2-3k dollars. So he is not that rich, isn't he? Tongue

Lol, i can't agree more...

If a huge bag of bitcoin is released into the market, we will surely experience a huge downtrend, i don't know if I'm to believe that is due to the current bear market condition or bitcoin isn't having much liquidity as it seems. It is a sure fact that if he decided to liquidate all his holding today, he might just be able to realize something more than half the supposed worth of his holding which surely shows that he isn't as rich as he seems

More crap? What the hell down trend are you talking about? The market is not a bear one. Not for bitcoin anyway. Check the charts. Liquidity? Lol you really just using words you do not understand now.
So you just think he is not that rich because the OP says so? Mkay...

It can trigger a downtrend if satoshi is gong to dump some of his bitcoin. In theory satoshi owns at least a million of bitcoin and if the market dump at least 500$ we all know that it will cause a panic to the whales and can lead to downtrend, of vise versa, if the bitcoin dump that hard maybe the other whales are going the buy it and make an upward trend.

Satoshi is the creator of bitcoin so I think he is holding at least a million. But all of this will be invalidated if satoshi sells his bitcoin in the past. As long satoshi is not selling a huge amount of bitcoin then, we are all fine.

Zionatin

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If the bitcoin network "clearly shows" Satoshis transactions then we know what wallet belongs to him -_-
Which we do not. So what are you talking about? I don't think you understand what you are saying. 500 btc is not going to drop the price by thousands. Do you even know how much bitcoin moves everyday?

Quote from: rathaha10 on May 24, 2020, 06:37:37 PM

Quote from: BlackHatCoiner on May 23, 2020, 04:47:20 PM

It's known that he may have a million BTC in his possession. The bitcoin network clearly showed that if satoshi makes transactions the price drops. Even if he is not satoshi, big transactions from old generated blocks is creating a trouble in the market.

If satoshi sells 500BTC price may drop 2-3k dollars. So he is not that rich, isn't he? Tongue

Lol, i can't agree more...

If a huge bag of bitcoin is released into the market, we will surely experience a huge downtrend, i don't know if I'm to believe that is due to the current bear market condition or bitcoin isn't having much liquidity as it seems. It is a sure fact that if he decided to liquidate all his holding today, he might just be able to realize something more than half the supposed worth of his holding which surely shows that he isn't as rich as he seems

More crap? What the hell down trend are you talking about? The market is not a bear one. Not for bitcoin anyway. Check the charts. Liquidity? Lol you really just using words you do not understand now.
So you just think he is not that rich because the OP says so? Mkay...

rathaha10

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Quote from: BlackHatCoiner on May 23, 2020, 04:47:20 PM

It's known that he may have a million BTC in his possession. The bitcoin network clearly showed that if satoshi makes transactions the price drops. Even if he is not satoshi, big transactions from old generated blocks is creating a trouble in the market.

If satoshi sells 500BTC price may drop 2-3k dollars. So he is not that rich, isn't he? Tongue

Lol, i can't agree more...

If a huge bag of bitcoin is released into the market, we will surely experience a huge downtrend, i don't know if I'm to believe that is due to the current bear market condition or bitcoin isn't having much liquidity as it seems. It is a sure fact that if he decided to liquidate all his holding today, he might just be able to realize something more than half the supposed worth of his holding which surely shows that he isn't as rich as he seems

yazher

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Quote from: ChiBitCTy on May 23, 2020, 06:04:57 PM

What has always cracked me up is people think that Satoshi only has as many bitcoins as we can see from his known address. The truth of the matter is know one has a clue how many bitcoins they own. The creator of bitcoin could certainly have created other wallets and owned other bitcoins that we are unaware of.

This will answer the OP question, I think that the Satoshi known address is just a dummy that no matter happens with the market, it won't move and it will just stay there to let the people know Satoshi is not moving at his BTC at all while he is already selling his BTC in another wallet freely and slowly without anyone noticing him. but this is just some mere theories we don't really know if what satoshi meant by not moving any BTC in his wallet he only knows that himself.

gentlemand

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Quote from: 20kevin20 on May 24, 2020, 02:28:07 PM

Like God damn it, he created this thing that made many, many people richer, revolutionized tech and saved lives in some 3rd world countries and you hope he never gets a buck out of his supposed fortune because it may drop your $50 wallet balance by half a buck. That's such a f'ed up way of thinking.

Agreed, BUT with his coin mountain and lingering mystery he has created something of a sword of damacles that he probably now regrets.

He had no choice, someone had to mine and I'm sure he would've been delighted if the network had been swamped with miners from minute one, but I would've indicated some intention for such a large portion of supply before disappearing.

It was his right not to of course but it also unsettles the principles of his system a little for one entity to own that much.

The idea of him dumping on Yobit or handing everything over to Jamie Dimon is laughable. I fully expect no identifiable coin of his will ever move.

But if I were another early miner I would have moved and stirred my coins as soon as it became clear that the train had left the station. The intense scrutiny of the coins I was about to blow on a Lego Millennium Falcon as a reward for my patience would give me an ulcer.

DarkDays

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Anybody with a sufficiently large stack of Bitcoin is likely smart enough to know not to dump their entire bag at once. Satoshi, in particular, should know this, since he invented the damn thing and gave birth to all the markets we see today.

It's estimated that Satoshi could have somewhere in the order of 10,000 to 100,000 BTC. This means he has somewhere between $90 and $900 million at today's rates. I'd call that fantastically wealthy in my opinion, even if he somehow only managed to liquidate it at 1/3 market rate, earning himself a minimum of $30 million.

Plenty of people have created similar blockchains, many of which are equally capable to Bitcoin's with far less money. So that would be a pretty great turnout for him.

20kevin20

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I see an insane number of topics about Satoshi popping up every few hours and I wonder how long it'll be before they are considered nonsense threads .. +95% of the stuff people "know" about Satoshi is just potential truth nobody has proof for. CShitW is the best example.

It's quite silly and annoying how people desperately hope Satoshi lost his coins (if they are even his) or will never sell.

Like God damn it, he created this thing that made many, many people richer, revolutionized tech and saved lives in some 3rd world countries and you hope he never gets a buck out of his supposed fortune because it may drop your $50 wallet balance by half a buck. That's such a f'ed up way of thinking.

pixie85

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If he really started selling the market would panic and dump hard but before all those people would manage to sell he'd liquidate a large portion of his coins.

Even if he were to sell just 100000 bitcoins for half of the current price so around 5000 dollars that's 500 million USD! And that would be a very small part of his stash.

He is rich both theoretically and practically but selling would destroy his creation. I don't think having some fiat money is more important to him than his life's work that changed the way people see digital money and decentralization.

Skieleton

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Quote from: BlackHatCoiner on May 23, 2020, 04:47:20 PM

It's known that he may have a million BTC in his possession. The bitcoin network clearly showed that if satoshi makes transactions the price drops. Even if he is not satoshi, big transactions from old generated blocks is creating a trouble in the market.

If satoshi sells 500BTC price may drop 2-3k dollars. So he is not that rich, isn't he? Tongue

I think that it would be felt to introduce several hundred thousand BTC to the market, which have not been in circulation until now. This would cause a noticeable drop you are writing about.

The second thing when BTC was created Satoshi Nakamoto could not know how much bitcoin price will reach ... Now we do not know what will be in half a year and what in 30 years ...

Assface16678

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At the year started Satoshi Nakamoto is not rich because he just hold a huge amount of the bitcoin and from that year it does not have enough value by the time goes by the market price of the coin increases and every time it rapidly increases he makes a withdrawal on it that gives him a lot of enough funds to make huge money. If you are a person you will not sell all of your market investment in just a single day because if you are one of the sources if the bitcoin the price of the coin will now lose and decrease that many people getting affected in this kind of movement. One of the best ways is to make an investment while the market is low and wait for the opportunity to sell your coins but not all of your coins and repeat this cycle if Satoshi Nakamoto does this kind of method or process will become one of the billionaires among all others.

Quote from: BlackHatCoiner on May 24, 2020, 02:12:41 AM

Each post is funnier than the other.

Anyway, I never said that satoshi will sell them all, you pictured it. I just have seen by googling that with his bitcoin worth he could be counted as a billionaire. If a have a billion chocolates I am not a billionaire until I sell all of them.

Having a good market strategy is the key to gain a lot of money if you will grab the opportunity when is the market will become in demand it gives you a huge chance to make more profits. Still it takes time before you get your income.

BlackHatCoiner

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Each post is funnier than the other.

Anyway, I never said that satoshi will sell them all, you pictured it. I just have seen by googling that with his bitcoin worth he could be counted as a billionaire. If a have a billion chocolates I am not a billionaire until I sell all of them.

davis196

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Quote from: BlackHatCoiner on May 23, 2020, 04:47:20 PM

It's known that he may have a million BTC in his possession. The bitcoin network clearly showed that if satoshi makes transactions the price drops. Even if he is not satoshi, big transactions from old generated blocks is creating a trouble in the market.

If satoshi sells 500BTC price may drop 2-3k dollars. So he is not that rich, isn't he? Tongue

"Trouble in the market"?So a less than 10% Bitcoin price drop is a "trouble in the market"?Are you serious,OP?
The guy that moved those 2009 bitcoins isn't Satoshi.
Satoshi owns around 1M Bitcoins.Even if the Bitcoin price drops 2-3K dollars,he is still a multimillionaire.
What do you mean by "isn't that rich"?He isn't selling or using his BTC,which means that he's not rich at all.
We don't know if he is alive,discussing his BTC wealth(that he never used) is pointless.

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