Topic: Satoshi ..Private key lost? - page 5. (Read 12760 times)

Central banks hold more than 17% of world's gold reserve, do they have any motivation to dump them?

Satoshi might have another huge load of coins and circulating them actively, he just don't need those extra reserves

Famous last words. You don't know what is going to happen to his coins in the future.

I personally think satoshi has passed on.

may be satoshi didn't want to move his coins
he is not a dumper

Extremely slim would be my guess. Satoshi isn't moving coins because he doesn't need to. He's leading by example.

But with this legal platform I want it to be really simple and based on common law moreso than this complex maritime admiralty legal system that is kind of being forced down our throats where it's impossible for the small guy to have a fair voice.

I mean I'm talking simple things like for instance, a promissory note.

http://en.wikipedia.org/wiki/Promissory_note

Definition and usage of promissory notes are internationally established by the Convention providing a uniform law for bills of exchange and promissory notes, signed in Geneva in 1930.[6] Article 75 of the treaty stated that a promissory note shall contain:
the term "promissory note" inserted in the body of the instrument and expressed in the language employed in drawing up the instrument
an unconditional promise to pay a determinate sum of money;
a statement of the time of payment;
a statement of the place where payment is to be made;
the name of the person to whom or to whose order payment is to be made;
a statement of the date and of the place where the promissory note is issued;
the signature of the person who issues the instrument (maker).

Historically, promissory notes have acted as a form of privately issued currency. Flying cash or feiqian was a promissory note used during the Tang dynasty (618 – 907). Flying cash was regularly used by Chinese tea merchants, and could be exchanged for hard currency at provincial capitals.[9] According to tradition, in 1325 a promissory note was signed in Milan. There is evidence of promissory notes being issued in 1384 between Genova and Barcelona, although the letters themselves are lost. The same happens for the ones issued in Valencia in 1371 by Bernat de Codinachs for Manuel d'Entença, a merchant from Huesca (then part of the Crown of Aragon), amounting a total of 100 florins.[10] In all these cases, the promissory notes were used as a rudimentary system of paper money, for the amounts issued could not be easily transported in metal coins between the cities involved. Ginaldo Giovanni Battista Strozzi issued an early form of promissory note in Medina del Campo (Spain), against the city of Besançon in 1553.[11] However, there exists notice of promissory notes being in used in Mediterranean commerce well before that date.

But something simple that the common person could set one up in for instance by software or application. And you could have possibly a digital signature.

I'm not really good with legal matters though, that's why I would need some consultants that are liberty minded but also adept in legal matters. I'm sure they're out there.

He may not want to affect to the bitcoin

I hereby renounce any association with said satoshi group if this is true. Never heard of him never liked him nada!

What's the big deal with liquidating say 5-10%. The gubmint did it with Silk Road coins and the sky never fell chicken little.

And why destroy coins I already don't like the idea of lost coins. I know i said it make it more valuable but I changed my mind.

Or say spent a portion for designing a legal platform for people to do contracts. Would not this add value to the coin as more business and higher velocity of transactions would be moving through the currency?. Second it would make it more usable to business instead of the immediate conversion back to fiat. I don't like right now that it gets immediately converted. Though the western union thing was good news. Hate those guys.

They'll still use btc, sort of.  They just will use an off-chain processor.  Coinbase does that today (you can send bitcoin from your coinbase account, to someone else's coinbase account, and the transaction never appears on the blockchain and it's much cheaper and faster that way - just involves more trust).

Why lost , he probably have them but Just don't want to spend them , how you can tell that Satoshi isnt a millionaire (before creating bitcoin) or with his knowledge he probably have a job on a very decent company and getting paid as should be.

he just want to stay annonymus.

Well what will they use for coffee? Coffee seems like a good thing to purchase with btc, though if it isn't obviously some fiat coin will still need to be used.

People may be 'forced' to use bitcoin eventually. Fiat has its uses and likely will for a very long time, but it could lose a lot of it's value if mass inflation happens and people could abandon it for other currencies and that's where bitcoin could flourish, though paper money or some other physical currency could still be used for those in the sticks or backwards or something.

^I dunno, I can't see satoshi just destroying coins like that. It seems like a waste.


No, but we know it's true 

not lost, destroyd by satoshi because he knew that the idea of bitcoin is bigger than he  
that would be a cool move.

I don't see any reason for fiat to stick around, unless it's by force.  Let's imagine bitcoin is accepted everywhere, what possible reason would you have to accept anything else?  Perhaps a different coin is more anonymous or has some technical feature.  But bitcoin could probably copy those features.  And there's always off-chain transactions (which still use bitcoin as the unit of account).

I don't necessarily think everyone's coffee purchases will be on the blockchain, but could see all the prices being in bitcoin.

I don't remember Satoshi saying that

ONE COIN TO RULE THEM ALL

That is just idealistic bullshit.
Bitcoin can take a major part in the world without destroying fiat completely. There can also be other cryptocurrencies besides bitcoin.
Bitcoin will definitely never be the only money on earth.

A lot of people don't seem to understand that if Bitcoin is successful it will be the money - currency trading as an industry and occupation won't exist any more because there won't be other currencies to exchange.

If you must know what I'd do with the coins. I'd be long like I seemingly already am right now. But like I said someone else in the group holds them. I would not divest and put them into regular assets. I would liquidate some of the holdings and move them into real business ideas I have and property. I wouldn't have much to do with the bitcoin architecture other than what I have said in wanting to see a true legal platform developed for the coin. Other than that I'd say what I said back then to the group satoshi. "you guys seem like you are doing a good job what do you need me for?" The legal platform is to get people to start legislating from the bench kind of like the supreme court already does. I don't know if you follow the news much but the court of common pleas in all the states issued a major warning to the federal government. I forget what the legal latin phrase is but it's somewhat of a big deal. My idea is to use the court of common pleas to do law and get away from this tyrannical prison system and handle things more in terms of fines and fees when the law is broken.

My thoughts are the legal system today is broken and destroys peoples lives. All for what? So, someone can have a criminal record and never get a decent job while they pound salt in some cell for some rich dude that owns the prison. I hate that.