Topic: Tell me why Satoshi Nakamoto didn't spend a Satoshi from his 1 Mio BTC (Read 8904 times)
December 13, 2020, 10:12:54 AM
He did not keep track of the private keys while developing Bitcoin because he had no way of knowing that the price would go up as it did. He could have had a hard drive containing all the private keys and the hard drive packed up or was lost.
February 14, 2020, 12:42:56 PM
What if the coins he left in his wallet are like the foundation or should I say value? I can’t really tell because if you check other coins their creators/founders reached a point where they sold their coins to make money. Bitcoin is the only coin I know that the founder never sold his coins to make profit and make themselves rich. Or maybe he had another wallet and decided to abandon this one.
It’s quite possible that he may have two wallets, the one we know and one that he kept secret from everyone and when the price went up he sold that other one and made money and decide to leave this one. Or maybe Satoshi Nakamoto is an organization and they have decided to let it stay this way? I just can’t tell.
It’s quite possible that he may have two wallets, the one we know and one that he kept secret from everyone and when the price went up he sold that other one and made money and decide to leave this one. Or maybe Satoshi Nakamoto is an organization and they have decided to let it stay this way? I just can’t tell.
February 13, 2020, 02:10:09 PM
He mined until 2010
He locked them up for 10y
Maybe cause of tax / legal issues.
He hasn't said anything against CSW until now
He locked them up for 10y
Maybe cause of tax / legal issues.
He hasn't said anything against CSW until now
February 13, 2020, 10:41:38 AM
Re: Tell me why Satoshi Nakamoto didn't spend a Satoshi from his 1 Mio BTC
Did Satoshi think that quantum computers will exist? https://bitcointalksearch.org/topic/did-satoshi-think-that-quantum-computers-will-exist-5172573
Did Satoshi think that quantum computers will exist? https://bitcointalksearch.org/topic/did-satoshi-think-that-quantum-computers-will-exist-5172573
Satoshi did know about it. Quantum was a thing before year 2000. Don't tell me the man who created Bitcoin does not know what quantum is.
If we look at the history of quantum computers, it started around 1980's, so definitely, Satoshi have known and think about quantum computers because it is already existing and developing even before Bitcoin was created.
Why did he not move his early mined P2PK Bitcoins to quantum resistant P2PKH addresses?Satoshi knew that one day quantum computers will exist and will be able to move the early mined coins (P2PK) and created an unofficial prize competition to accelerate the development.
Maybe Satoshi created the greatest prize competition and the privatekeys are somehow within the blockchain.
Our guess is that he knew that the early mined coins will be moved one day. So he created a 'prize competition'. Otherwise he could move the coins to quantum resistant P2PKH addresses, but he did not and is not doing.
The only question is:
Nobody can stop that race.
The only question is:
Who will win the race and get the early coins?
Quantum computing or solving the "Satoshi Prize Competition".
Quantum computing or solving the "Satoshi Prize Competition".
Nobody can stop that race.
February 13, 2020, 01:38:07 AM
In my opinion the strongest reason is Satoshi Nakamoto wants to wait for the right time. Because from the beginning he was created
he had predicted the price of his created bitcoin will continue to rise in price. Because the limited supply is only 21 million BTC, it is no
wonder Satoshi Nakamoto until now didn't spend a satoshi from his 1 million BTC. If it's really my guess, then satoshi nakamoto is really
a person which takes into calculated everything from the start.
he had predicted the price of his created bitcoin will continue to rise in price. Because the limited supply is only 21 million BTC, it is no
wonder Satoshi Nakamoto until now didn't spend a satoshi from his 1 million BTC. If it's really my guess, then satoshi nakamoto is really
a person which takes into calculated everything from the start.
February 13, 2020, 01:15:31 AM
1) I think at least one of the group of Satoshis has died. (I think Satoshi was a team)
2) I think he/they has/have other bitcoins he has been able to spend.
3) It is definitely possible that some or all the keys have been lost - perhaps deliberately *
4) He does want to stay anonymous
5) I don't believe he wants to spend them. But maybe he wants to solve world poverty.
6) I do believe he is an idealist and more interested in the project rather than the $
Added reason:
7) I believe he has deliberately left the first addresses as a "bait" or "lure". If the first addresses move they will prove the private key has been compromised and the "system is at risk".
But the first coins will be near impossible to spend without attracting attention.
2) I think he/they has/have other bitcoins he has been able to spend.
3) It is definitely possible that some or all the keys have been lost - perhaps deliberately *
4) He does want to stay anonymous
5) I don't believe he wants to spend them. But maybe he wants to solve world poverty.
6) I do believe he is an idealist and more interested in the project rather than the $
Added reason:
7) I believe he has deliberately left the first addresses as a "bait" or "lure". If the first addresses move they will prove the private key has been compromised and the "system is at risk".
But the first coins will be near impossible to spend without attracting attention.
May 02, 2016, 05:35:07 AM
+1 for the headlines
April 25, 2016, 03:13:05 PM
Satoshi died on May 23, 2015.
is that true?if you joke about this,you should put kidding emoticon. sorry i'm just kidding man.but i never meet people that mentioning about satoshi dead,i'm wondering about this,tell me if that was true
Satoshi Nakamoto is the Cosmical Jesus sent to us to free the humanity from the New World Order. He can't die, that's impossible.
April 24, 2016, 02:33:13 AM
Satoshi Nakamoto whoever that is probably doesn't need a lot of money right now and if Satoshi wanted to liquidate his/her stash of coins that would have drawn all the public attention to him/her and would have endangered his/her privacy. There are a lot of Blockchain security experts monitoring the network so if Satoshi tries to cash in his/her fortune that would inevitably allow someone to match Satoshi's alias to a real name and face. And there are a lot of criminal organizations that would like to get hold of this Bitcoin stash so Satoshi better stay in the darkness if you ask me.
April 23, 2016, 04:19:57 PM
Satoshi died on May 23, 2015.
How do you know that Satoshi has passed away?well let assuming that you just said is true, it means that there is no access to his address and it just an memory, anyways i'am going with theory number 4, stay anonimity as we know that SN wanted to stay anonymous thus, he won't spend or sell his bitcoin. Just saying.
April 23, 2016, 03:33:46 PM
Where in the blockchain I can find his known addresses?
April 23, 2016, 12:30:07 PM
Its most likely a backup as the man/women was purely a idealist and believed in what bitcoin can achieve. If he sold some it might show lack of faith.
April 23, 2016, 12:22:32 PM
mr satoshi Nakamoto is currently doing what he does best being a full time crpto miner 
doesn't need the 1 Mio BTC
he is surely over clocking his computer skills at the moment
doesn't need the 1 Mio BTChe is surely over clocking his computer skills at the moment
April 23, 2016, 11:57:25 AM
The theories I contemplate nowadays are the following:
1) He has other addresses that no one knows are his addresses, with some money there too, enough to live a comfortable life for the rest of his life. He is not greedy so he doesn't want to move the coins from the 1 million stack because that would cause uncertainty.
2) He forgot the pass for his keys or simply lost his wallet
3) He was already a millionaire in fiat/assets before starting so doesn't want to damage Bitcoin by fucking around with the massive 1 million stack.
4) He doesn't want to move the coins because the movements would get scrutinized and it's a risk for his identity (he is a target worldwide already)
5) Guy actually got killed already
6) He's just a long term hodler
Something along those lines.
1) He has other addresses that no one knows are his addresses, with some money there too, enough to live a comfortable life for the rest of his life. He is not greedy so he doesn't want to move the coins from the 1 million stack because that would cause uncertainty.
2) He forgot the pass for his keys or simply lost his wallet
3) He was already a millionaire in fiat/assets before starting so doesn't want to damage Bitcoin by fucking around with the massive 1 million stack.
4) He doesn't want to move the coins because the movements would get scrutinized and it's a risk for his identity (he is a target worldwide already)
5) Guy actually got killed already
6) He's just a long term hodler
Something along those lines.
April 23, 2016, 10:55:19 AM
Satoshi died on May 23, 2015.
Probably died much sonner, when he dissapeared from Bitcoin development and forums and nobody else knew the passphrase to his walet or simply the HDD is reformated already. Sometimes even young people dying all of sudden like in car accident, heart attack and many other possibilites - just bad luck.
So 1) in OP seems to fit data best imo
April 23, 2016, 10:42:26 AM
I would like to think number 3 is very much possible lol
he must have lost it or purposely burn his access to his wallet so he can't spend it and so no matter what bitcoin will always have value.
He wouldn't be that foolish to do so.If he had to burn or destroy them he wouldn't have kept them in the first place.I think he must have some good reason to keep them with himQuote
3. Satoshi lost the private keys of his early wallets
That would be a good reason to not spend a good part of your "now worth alot" coins. It would also be a reason for some people to commit suicide btw.
But: Would this be a reason to give up and give all the keys to somebody else? I doubt it, really...
That would be a good reason to not spend a good part of your "now worth alot" coins. It would also be a reason for some people to commit suicide btw.
But: Would this be a reason to give up and give all the keys to somebody else? I doubt it, really...
he must have lost it or purposely burn his access to his wallet so he can't spend it and so no matter what bitcoin will always have value.
April 23, 2016, 10:15:04 AM
He lost his private keys, guaranteed! It wasnt a big deal to him when bitcoin was a few pennies, but now everytime bitcoin rises, it eats at his soul. 
April 23, 2016, 09:07:12 AM
he is either dead or he is so freaking rich. because any human being who would have that much of money will think about spending it everyday to buy what ever he desire
April 23, 2016, 08:55:01 AM
I believe that he just want to stay anonymous, or he don't want to use that chance to be a rich guy. Because he invented this technology for the world, not for himself.
April 23, 2016, 05:49:21 AM
I would like to think number 3 is very much possible lol
he must have lost it or purposely burn his access to his wallet so he can't spend it and so no matter what bitcoin will always have value.
He wouldn't be that foolish to do so.If he had to burn or destroy them he wouldn't have kept them in the first place.I think he must have some good reason to keep them with him Quote
3. Satoshi lost the private keys of his early wallets
That would be a good reason to not spend a good part of your "now worth alot" coins. It would also be a reason for some people to commit suicide btw.
But: Would this be a reason to give up and give all the keys to somebody else? I doubt it, really...
That would be a good reason to not spend a good part of your "now worth alot" coins. It would also be a reason for some people to commit suicide btw.
But: Would this be a reason to give up and give all the keys to somebody else? I doubt it, really...
he must have lost it or purposely burn his access to his wallet so he can't spend it and so no matter what bitcoin will always have value.
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