the reason why Satoshi didnt use his 500k-1Million Bitcoins - page 4.

BitcoinEXpress

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Quote from: toinew on July 02, 2015, 06:51:17 PM

Because if he had used his huge stash of bitcoin, it would look like a huge premine (around 2 and 3% mined by him, the dev)
Also, the block rewards are supposed to distribute the bitcoin, and not centralize all the bitcoin mined in 1 person hands.

Therefore, i think Satoshi prefered to sacrifice those premined coins for the sake of a better distribution of coins.

@Newbie

Premine means mining BEFORE releasing to the public.

Satoshi released Bitcoin allowing anyone who wanted to mine BTC the opportunity from Block 1 forward.

~BCX~

franky1

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Quote from: toinew on July 02, 2015, 06:51:17 PM

Because if he had used his huge stash of bitcoin, it would look like a huge premine (around 2 and 3% mined by him, the dev)
Also, the block rewards are supposed to distribute the bitcoin, and not centralize all the bitcoin mined in 1 person hands.

Therefore, i think Satoshi prefered to sacrifice those premined coins for the sake of a better distribution of coins.

his hoard is far less than 500k..

even in january-february 2009 other people were mining bitcoin. hal finney for instance..
secondly as they were playing around with the first few versions of the code, they were litterally throwing away the private keys and trying different things while they debugged. so the funds satoshi nakamoto could possibly still have access too is smaller than people think. and if he did 'sacrafice' those remaining available funds or is hoarding for 30years.. no one will know unless we see funds suddenly move..

AgentofCoin

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Quote from: toinew on July 02, 2015, 06:51:17 PM

Because if he had used his huge stash of bitcoin, it would look like a huge premine (around 2 and 3% mined by him, the dev)
Also, the block rewards are supposed to distribute the bitcoin, and not centralize all the bitcoin mined in 1 person hands.

Therefore, i think Satoshi prefered to sacrifice those premined coins for the sake of a better distribution of coins.

Satoshi died due to natural causes.
His coins are locked for good.

philipma1957

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'The right to privacy matters'

Quote from: toinew on July 02, 2015, 06:51:17 PM

Because if he had used his huge stash of bitcoin, it would look like a huge premine (around 2 and 3% mined by him, the dev)
Also, the block rewards are supposed to distribute the bitcoin, and not centralize all the bitcoin mined in 1 person hands.

Therefore, i think Satoshi prefered to sacrifice those premined coins for the sake of a better distribution of coins.

So if Satoshi comes to me and wants to unload a 100,000 coin account and I give him 200usd (pick a number) a coin.

That is 20,000,000.

I put it in an unmarked swiss account.
I hold the coins until 2020 then cash them out.

So in 2020 everyone will think I am Satoshi.

Since in reality I am Bill Gates, a Saudi Prince , Donald Trump , Queen of England. Anyone you choose. I was just looking for some skin in the game.

My point is the so called first 500,000 to 1,000,000 coins that are supposed to be Satoshi may all belong to anyone above. Satoshi could have fully offloaded all the coins last year or two years ago. To anyone looking to get into the game. Terms of the agreement include a 5 year no cash out of coins rule.

jbrnt

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He choose to leave the bitcoin scene and disappear. He must also leave his coin behind because they can be traced back to his real identity. I think some of those coins are actually lost. During development, he must have deleted a few wallet files by mistake. At the time, bitcoin was worth nothing and he didn't care. Grin

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

Quote from: toinew on July 02, 2015, 06:51:17 PM

Because if he had used his huge stash of bitcoin, it would look like a huge premine (around 2 and 3% mined by him, the dev)
Also, the block rewards are supposed to distribute the bitcoin, and not centralize all the bitcoin mined in 1 person hands.

Therefore, i think Satoshi prefered to sacrifice those premined coins for the sake of a better distribution of coins.

plus he can be more anon

theskillzdatklls

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MintDice.com | TG: t.me/MintDice

Quote from: RussianRaibow on July 02, 2015, 06:55:26 PM

Ok. So what's your point ?

basically that he knows how to make words bold and type and stuff. you know, internet.

RussianRaibow

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I AM A SCAMMER

Ok. So what's your point ?

toinew

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Because if he had used his huge stash of bitcoin, it would look like a huge premine (around 2 and 3% mined by him, the dev)
Also, the block rewards are supposed to distribute the bitcoin, and not centralize all the bitcoin mined in 1 person hands.

Therefore, i think Satoshi prefered to sacrifice those premined coins for the sake of a better distribution of coins.

Topic: the reason why Satoshi didnt use his 500k-1Million Bitcoins - page 4. (Read 3246 times)