Topic: Tell me why Satoshi Nakamoto didn't spend a Satoshi from his 1 Mio BTC - page 5. (Read 8931 times)
March 01, 2016, 10:00:05 AM
I'm going with theory number 5. The CIA and the big banks of the world would want him arrested as Bitcoin disrupts their financial power of the world. As of now, the fed can simply print US currency and control the wealth of the world. With Bitcoin, this is decentralized, so nobody can control Bitcoin. This also means the modern citizen in the future would have more control over their finances.
March 01, 2016, 09:45:31 AM
3. Satoshi lost the private keys of his early wallets
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I will go deeper into this and other questions and theories later. Meanwhile, if you have a good and rational theory about why SN didn't spend a Satoshi, don't hesitate to write it down here. I will add new ideas to my OP with a reference from time to time.
I am going with option 3, He simply didn't think it was going this big and just can't access his old coin's
A guy like that probably has a new pc/hardware every week.
Or maybe he is just waiting for the price to go up more, till he can declare himself the richest man!
And build a better world, that would be awesome.
But I don't really chase the truth about Satoshi, like other people because there is no point.
I guess many people are monitoring these addresses. The moment one of them is spent, the whole world will know => resulting will be massive drop in bitcoin value to close to nothing due to fear.
Satoshi is a smart guy and he definitely understand that he will not be the richest guy in this world. All we know is that he wanted Bitcoin to be successful and therefore he will not be moving those coins.
March 01, 2016, 09:45:25 AM
Or maybe he's waiting for the halving as well so he can dump his coins at a higher price with more buyers than it ever did during the first halving.
Or he lost his HDD
Or he lost his HDD
so you think he predicted a higher price for this halving than the 2013 run up, and after all the dump that occured and the desperation phase?
ok satoshi is like nostradamus when we taalk about bitcoin, but those kinda of prediction is putting it overboard...
March 01, 2016, 08:52:46 AM
Every one know that if satoshi spend = move his btc it would be a new revolution, because yes "we are all satoshi" but there is also an original one, the first one! and no know can't ignore his movement.
I think is this the really think about it.
I think is this the really think about it.
March 01, 2016, 08:49:17 AM
3. Satoshi lost the private keys of his early wallets
---
I will go deeper into this and other questions and theories later. Meanwhile, if you have a good and rational theory about why SN didn't spend a Satoshi, don't hesitate to write it down here. I will add new ideas to my OP with a reference from time to time.
I am going with option 3, He simply didn't think it was going this big and just can't access his old coin's
A guy like that probably has a new pc/hardware every week.
Or maybe he is just waiting for the price to go up more, till he can declare himself the richest man!
And build a better world, that would be awesome.
But I don't really chase the truth about Satoshi, like other people because there is no point.
March 01, 2016, 08:48:41 AM
First of all, we don't know, and we never knew Satoshi's financial status before creating Bitcoin. What I mean is, he could have been a millionaire already, so this wouldn't mean he didn't need the extra money Bitcoin gave him, and he had some ethics and decided to leave the initial mined coins untouched.
Second option is, he simply lost the coins, and he can't take them back: the coins are lost forever.
Third option: He died before he had a chance to move some of the coins/got killed by a triple letter agency.
Second option is, he simply lost the coins, and he can't take them back: the coins are lost forever.
Third option: He died before he had a chance to move some of the coins/got killed by a triple letter agency.
March 01, 2016, 08:45:31 AM
Or maybe he's waiting for the halving as well so he can dump his coins at a higher price with more buyers than it ever did during the first halving.
Or he lost his HDD
Or he lost his HDD
dont think he lost his HD, but he was endlessly debugging bitcoin-qt so easy t presume due to lack of real value bitcoin had in 2009 that he didnt even care about deleting the wallet and use fresh new addresses in new wallets
March 01, 2016, 08:39:39 AM
Or maybe he's waiting for the halving as well so he can dump his coins at a higher price with more buyers than it ever did during the first halving.
Or he lost his HDD
Or he lost his HDD
March 01, 2016, 08:35:26 AM
All are theories, we don't know anything about how many bitcoins have, he or she could be minning with another bitcoin address. The only think that i suppose its important its if anyone want to sold in few time all these bitcoins price could go down.
March 01, 2016, 08:29:10 AM
I'm surprised no one have sited "due to security reasons" perhaps. If he comes out, he will be known well enough for him to be a target for either governments or some people who will surely try to get their hands on him for their own benefits. What his doing now (staying out of radar) is the ideal thing to do. Some thing coming out will benefit him only but there will be harm as well. plus he will never have a privacy again on his life (something only famous people would wish for in trade for fame).
March 01, 2016, 08:24:26 AM
Why can it not be that he has morals and doesn't want to hugely profit from essentially premining Bitcoin?
The whole idea of bitcoin is that it is for the people, if the creator crashed the market by selling out for a few million dollars, that wouldn't make him or his idealogy look very good!
I would assume that someone who came up with cryptocurrencies, and put it together as well as Satoshi did, would be rich enough or content enough with themselves that they wouldn't need to sell out.
I guess over time option 1 becomes ever more possible, but I would rather believe my reasoning.
The whole idea of bitcoin is that it is for the people, if the creator crashed the market by selling out for a few million dollars, that wouldn't make him or his idealogy look very good!
I would assume that someone who came up with cryptocurrencies, and put it together as well as Satoshi did, would be rich enough or content enough with themselves that they wouldn't need to sell out.
I guess over time option 1 becomes ever more possible, but I would rather believe my reasoning.
March 01, 2016, 08:19:52 AM
The last one sounds the most possible to me, it is something I can relate to happening.
March 01, 2016, 08:17:06 AM
Its better to assume he is dead which is also quite reasonable. But he may also have other unknown wallets which have lots of coin lying around.
March 01, 2016, 08:16:54 AM
if you think about it, having the first 1m coins not owned all by satoshi, it's not exactly a good thing
having one millions coins holded by 5 guys instead of one guy(satoshi) can actually be even worse, those other 4 guys probably are more greedy than satoshi and an easy dump can occur with more probability
having one millions coins holded by 5 guys instead of one guy(satoshi) can actually be even worse, those other 4 guys probably are more greedy than satoshi and an easy dump can occur with more probability
i have data of the first 222 days. and i know in the first 5 days atleast 5 computers were mining at the same time.
so far my data has shown in the first 11 days that the satoshi dots accounts for 60% of mined coins.
which i know from day 12 to day 222 dilutes down to a lower percentage as more people join in.
im pretty sure someone else must have done more research then the dot graph of previous research. and i hope so too because its giving me double vision going through this data manually
March 01, 2016, 08:14:31 AM
How about
Satoshi Nakamoto is NASA
Maybe Satoshi Nakamoto is some government agency of some country and did bitcoins without approval from the government, and now they are afraid if they expose their project nothing good will come out of it.
Just my two cents.
Satoshi Nakamoto is NASA
Maybe Satoshi Nakamoto is some government agency of some country and did bitcoins without approval from the government, and now they are afraid if they expose their project nothing good will come out of it.
Just my two cents.
March 01, 2016, 08:11:09 AM
Tell me why Satoshi Nakamoto didn't spend a Satoshi from his 1 Mio BTC
I don't really know why he never spent a satoshi out of his stash (or how sure we are that he didn't) but I'm pretty sure that he doesn't want to sell because if he does all the world's newspapers' headlines will be about "Satoshi Nakamoto (who) lost faith in his own creation and sold his coins". Just imagine the effect that it would have on the market. It could end up in a disaster. March 01, 2016, 07:57:30 AM
if you think about it, having the first 1m coins not owned all by satoshi, it's not exactly a good thing
having one millions coins holded by 5 guys instead of one guy(satoshi) can actually be even worse, those other 4 guys probably are more greedy than satoshi and an easy dump can occur with more probability
having one millions coins holded by 5 guys instead of one guy(satoshi) can actually be even worse, those other 4 guys probably are more greedy than satoshi and an easy dump can occur with more probability
March 01, 2016, 07:53:27 AM
all the block dots are NOT owned by satoshi.
the angle of the dots is the easiest way to work out who is who. because the angle is the eqivelent measure of CPU speed. the more vertical it is (10degrees) is super fast cpu. but the closer to 90degree's they get those are slower and slower cpu's
satoshis 'angle' can be easily counted.. if you have the time to manually do it
so far, this is an example.. the light blue is satoshi. the other colours are other people/other PC's
(my image is not exact because first i sorted out the satoshi angles and then moved onto colour coding different users individually.. but still not perfect)
as for saying satoshi never spent the coins.. he did move some coins. even on the first day he and hal finney were mining.. just not all of them were moved/spent.. for him it wasnt about selling for profit but for testing purposes.
as for other people, they also spent coins too.
by block 500(day 4) i can easily see 4-5 different patterns that represent 4-5 different users/computer mining. (still trying to manually sift through the data)
the angle of the dots is the easiest way to work out who is who. because the angle is the eqivelent measure of CPU speed. the more vertical it is (10degrees) is super fast cpu. but the closer to 90degree's they get those are slower and slower cpu's
satoshis 'angle' can be easily counted.. if you have the time to manually do it
so far, this is an example.. the light blue is satoshi. the other colours are other people/other PC's
(my image is not exact because first i sorted out the satoshi angles and then moved onto colour coding different users individually.. but still not perfect)
as for saying satoshi never spent the coins.. he did move some coins. even on the first day he and hal finney were mining.. just not all of them were moved/spent.. for him it wasnt about selling for profit but for testing purposes.
as for other people, they also spent coins too.
by block 500(day 4) i can easily see 4-5 different patterns that represent 4-5 different users/computer mining. (still trying to manually sift through the data)
March 01, 2016, 07:53:14 AM
how do we know he didn't mine a lot of BTC to an unknown address during the early days and is spending them gradually?
Check: https://bitslog.wordpress.com/2013/04/17/the-well-deserved-fortune-of-satoshi-nakamoto/
Quote
Disclaimer: I can’t assure with 100% certainty that the all the black dots are owned by Satoshi, but almost all are owned by a single entity, and that entity began mining right from block 1, and with the same performance as the genesis block. It can be identified by constant slope segments that occasionally restart. Also this entity is the only entity that has shown complete trust in Bitcoin, since it hasn’t spend any coins (as last as the eye can see). I estimate at eyesight that Satoshi fortune is around 1M Bitcoins, or 100M USD at current exchange rate. I’m sure there will be plenty of people that will carefully analyze the source data set and come up with the exact figure, which will be very close, but nevertheless they will scream at me again.
still can't prove that satoshi didn't mine using other computer(s) around that time. plus gmaxwell and theymos claimed that they and many people they know of mined around that time.
maybe satoshi did mine most of those blocks and never planned to spend it because he had some concern of what so many bitcoins can do to its economic growth. but did mine a safe amount of bitcoin using other separate computer(s) for himself.
March 01, 2016, 07:51:39 AM
There are other possibilities like maybe satoshi is waiting for more price rise as he is not convinced with the current btc/USD rates. Or maybe he mined the first early coins to a random addresses to keep them untouchable which may be safe for bitcoin network.
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