Satoshi Nakamoto should be richer than Bill Gates. - page 8.

pitham1

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Quote from: satongshi on March 29, 2017, 06:49:07 AM

We all know Bill Gates the owner of microsoft is the most richest man in the world. Total wealth of $80 Billion US dollars. While satoshi nakamoto the owner and founder of bitcoin only have $1 billion US dollars, Why he cant just generate indefinite amount of bitcoins for him and exchange it to real cash, right? Any thoughts?

There is enough debt in the equity markets for Bill Gates to sell his stake.
Satoshi might have a million bitcoins, but just imagine what will happen if he tries to sell his coins. Bitcoin's price will crash in a matter of minutes.

CraigWrightBTC

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Of course yes Satoshi Nakamoto should be richer than bill gates, if Satoshi Nakamoto hold about BTC1.000.000
but we don't is Satoshi Nakamoto still has baru bitcoin or not on the wallet, because there are not people who
know about Satoshi Nakamoto and who is it. It is still anonymous.

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Quote from: satongshi on March 29, 2017, 06:49:07 AM

We all know Bill Gates the owner of microsoft is the most richest man in the world. Total wealth of $80 Billion US dollars. While satoshi nakamoto the owner and founder of bitcoin only have $1 billion US dollars, Why he cant just generate indefinite amount of bitcoins for him and exchange it to real cash, right? Any thoughts?

I don't think so, Bill Gates will remain as the richest man on Earth and I don't think Satoshi is able to surpass him. Sats maybe holding 1 million supply of bitcoin but still that isn't enough compare to the total net worth, assets and everything that Bill Gates now. And Satoshi is definitely a rich guy already and just enjoying the world around us.

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Quote from: machinek20 on March 31, 2017, 06:43:51 PM

Satoshi cant do that, if he made the bitcoin unlimited then it will makes the price drop down and up until now we still dont know who is satoshi and how many coin did he saved, so i doubt satoshi is richer than bill gates

Did you think if satoshi nakamoto is the maker of bitcoin unlimited idea? Satoshi is not a greedy person and he was having enough btc in his wallet. i mean around 1k btc in his wallet. I've ever heard someone else said about that. Roll Eyes

centralbanksequalsbombs

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Quote from: HarringtonStark on March 31, 2017, 08:04:56 PM

Quote from: tiggytomb on March 29, 2017, 07:55:34 AM

Satoshi could even be Bill Gates for all we know as his identity is unknown, or Satoshi could be a test of some next level AI imagine that.

It could be possible who knows it's just Bill tinkering with his programming skills . This is interesting

No, Satoshi died in 2013 ~~2014~~. I covered it in my big hacks, puppets post. Generous genius who never offloaded all those big initial chunks of bitcoin...and no one ever will. Which is all good for the bitcoin network and for all bitcoin holders.

[edited for getting the year wrong. oops.]

HarringtonStark

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Quote from: tiggytomb on March 29, 2017, 07:55:34 AM

Satoshi could even be Bill Gates for all we know as his identity is unknown, or Satoshi could be a test of some next level AI imagine that.

It could be possible who knows it's just Bill tinkering with his programming skills . This is interesting

Yuuto

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Quote from: satongshi on March 29, 2017, 06:49:07 AM

We all know Bill Gates the owner of microsoft is the most richest man in the world. Total wealth of $80 Billion US dollars. While satoshi nakamoto the owner and founder of bitcoin only have $1 billion US dollars, Why he cant just generate indefinite amount of bitcoins for him and exchange it to real cash, right? Any thoughts?

Nope, that is not possible.

The beauty of bitcoin is that the production of coins is completely decentralised, and that means that Satoshi or anyone else can't just wake up one day and be like hmmm i feel like generating coins today, lets go to the coins generator and get a few billion coins.

In fact, this is exactly what governments do to hold a tight grip over the economy.

And there is no way right now that satoshi is richer than Bill Gates, because the market cap is only $17 billion in total. Even if he had all the bitcoins in circulation he won't have enough to exceed Gates' 70 billion net worth.

machinek20

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Satoshi cant do that, if he made the bitcoin unlimited then it will makes the price drop down and up until now we still dont know who is satoshi and how many coin did he saved, so i doubt satoshi is richer than bill gates

Yakamoto

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Quote from: satongshi on March 29, 2017, 06:49:07 AM

We all know Bill Gates the owner of microsoft is the most richest man in the world. Total wealth of $80 Billion US dollars. While satoshi nakamoto the owner and founder of bitcoin only have $1 billion US dollars, Why he cant just generate indefinite amount of bitcoins for him and exchange it to real cash, right? Any thoughts?

Hmm, let's think about why Satoshi can't generate as many coins as he wants and attempts to sell them for whatever amount he wants to...

Maybe it has something to do with the laws of supply and demand, and the fact that a lot of Bitcoin' value comes from it being a deflationary currency?

You don't even know how much he owns, I don't know what in the world this thread is supposed to be. Most people understand this at this point.

Rinder

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If were soo easy as you think Nakamoto would had already created more bitcoins, the code hasnt been build to create more coins, its 21 milion supply, and the process is already set to have halvings. And as already others said even if Nakamoto sell is coins at 1000 dollars, he will get only 1 bilion, soo tax will get a huge part of those coins, if doesnt frozen those ammount saying its from dark marketplace business.

ASHLIUSZ

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As his entire wealth is virtually available it won't be considered with respect to the decentralized nature of the money. Bill Gates has a different phenomenal earning which is just part of innovationthat took the entire system of the world get changed. If the same happens with bitcoin changing the entire world with the technology soon Satoshi might take the position of Bill Gates.

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Quote from: satongshi on March 29, 2017, 06:49:07 AM

We all know Bill Gates the owner of microsoft is the most richest man in the world. Total wealth of $80 Billion US dollars. While satoshi nakamoto the owner and founder of bitcoin only have $1 billion US dollars, Why he cant just generate indefinite amount of bitcoins for him and exchange it to real cash, right? Any thoughts?

That's a glaring example of misconception that money itself represents wealth

Even if he mined infinite amount of bitcoins (like many other altcoin developers did), the price per bitcoin wouldn't be over 1,000 dollars. I guess it wouldn't even be above just 1 dollar per coin. I don't know whether Bill Gates is really the richest man in the world right now (since there are other contenders like Warren Buffett), but even if he is that doesn't mean that he 80 billion dollars packed in some bank or safe. Roughly speaking, this how much wealth he has in dollar terms, but that doesn't mean that he has 80B dollars stacked under the mattress (figuratively speaking)

Okurkabinladin

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Quote from: satongshi on March 29, 2017, 06:49:07 AM

We all know Bill Gates the owner of microsoft is the most richest man in the world. Total wealth of $80 Billion US dollars. While satoshi nakamoto the owner and founder of bitcoin only have $1 billion US dollars, Why he cant just generate indefinite amount of bitcoins for him and exchange it to real cash, right? Any thoughts?

Because FINITE number of coins is hard coded into the network. Since bitcoin value is inherently linked to trust of its users ie. their fiat investment in it, any agreement on infinite inflation (which is what you just proposed) would lead to price collapse.

By the way, I think, that bitcoin is not as omnipresent around the world as are the products of Microsoft.

Paashaas

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Bill Gate's wealth is pocket change, can Satoshi be richer than the Rothschilds? If Bitcoin takes off his bag must one of the biggest honeypots in human history.

pixie85

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He could be richer than Bill, but his wealth would be in large part virtual, just like Bill's. Gates can be the wealthiest man, but most of his wealth are corporate shares and project investments. This isn't money you can cash out just like that and buy yourself an island or a town. Most of his money is frozen, not like he needed that much in hand, but it is what it is, a virtual wealth.
It's the same with Satoshi, he can't move the coins without risking exposure and selling that much would take years if one didn't want to crash the market.

BillyBobZorton

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Satoshi Nakamoto (if he is a single person and not a group) will be the wealthiest man alive and the first trillionaire man alive (assuming he is still alive if he is a person and not a group).

Bitcoin cannot be stopped, network effect too big, it crashes and always comes back, too many people wants to get in cheap.

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Quote from: satongshi on March 29, 2017, 06:49:07 AM

We all know Bill Gates the owner of microsoft is the most richest man in the world. Total wealth of $80 Billion US dollars. While satoshi nakamoto the owner and founder of bitcoin only have $1 billion US dollars, Why he cant just generate indefinite amount of bitcoins for him and exchange it to real cash, right? Any thoughts?

If Satoshi (or whoever who somehow get access to his coins) would ever move any of his known coins there would be market panic.
Bitcoin's price would immediately crash to unknown levels - furthermore it would be very hard for him to sell his coins without risking that his identity will be exposed.

Infinite amount of bitcoin = near zero value.

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Quote from: satongshi on March 29, 2017, 06:49:07 AM

We all know Bill Gates the owner of microsoft is the most richest man in the world. Total wealth of $80 Billion US dollars. While satoshi nakamoto the owner and founder of bitcoin only have $1 billion US dollars, Why he cant just generate indefinite amount of bitcoins for him and exchange it to real cash, right? Any thoughts?

Why people all of these centuries they had given value to precious metals (silver, gold, platinum) and they continue to do the same till now? If gold and the rest precious metals were something that there is in abundance and everywhere then all of these can not have any value, it would be like the inflationary fiat money. That should be rare but not too rare! The same is with bitcoin. It is a digital scarce coin. If anybody could create any amount he wants then the price of bitcoin could be absolutely zero.

Arcteryx

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If he is in fact a real person or just a group of people that use his name.
Like Negan from TWD.
I am negan!
So I am BTC! Grin

Not BTU!

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Quote from: izanagi narukami on March 31, 2017, 10:28:20 AM

Bitcoin is unique so I'm sure someone who created bitcoin must have their own reason to hide their identity.
Since bitcoin unique, it's impossible to happen that bitcoin creator will richer than Gate's especially when bitcoin keep reach another halving for next period

Yes, there is nothing hidden in Bitcoin, its an open source currency, anyone can have access to mining, sending/receiving. Moreover, there is limited supply to 21 millions. So it can't some how happen that Nakamato someday emerge and show his lots of Bitcoins and become ultra rich. Bitcoins have already move from centralized phase to decentralized.

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