I think the most sensible answer is, having created the currency, and presumably, having watched its actions over the years, he'd probably be smart enough not to attempt to dump/swap/exchange all of his coins at once. If the goal was to have a billion dollars, then selling a million coins at market price at the same time would be the surest way NOT to reach that goal.
I assume s/he's still among us, and has plenty more coins aside from the fabled "satoshi" coins to do whatever they want with. But if those original coins did move, I don't get why there would be a freak out. Everyone came into the system knowing, or has since learned, that the mythological satoshi owns what he owns. If the day comes that they want to see some of the fruits of their labor, and that involves moving coins from the earlier blocks, why freak out any more than if they moved coins from later blocks?
Topic: The "Satoshi Risk" - page 2. (Read 1325 times)
So I can tell you with confidence that you mined very few blocks (e.g. 10 blocks) during that time and you're not millonaire, or you are part of the Satoshi group, period.
Do I get to be Satoshi too? I was off by only a few days... https://i.imgur.com/w57rtbs.png
I know first-hand that there were several different people who mined before January 2010. It's kind of funny that history I've lived through is being questioned...
This 1 million figure was thoroughly debunked long ago by many an old hand. Sergio was wrong about it, and so many things.
We cannot know the real amount of bitcoins Satoshi himself holds. Of course he is a very smart, a genius person so he keeps his fortune distributed in many different bitcoin addresses. This way he ensures privacy, he knows very well that if he keep all his bitcoins in a single address, then he can say goodbye to his privacy. At first he did mine a lot of blocks of 50 BTC each which has still coins on them, but soon after a few months Hal Finney joined and he did mine a lot of blocks too. I think it is complicated to check how many coins Satoshi hold. I think we should leave him alone as long as he has decided to stay hidden.
I don't see any "Satoshi Risk". It would only be beneficial to bitcoin if he comes back to the scene(personal opinion).
I don't see any "Satoshi Risk". It would only be beneficial to bitcoin if he comes back to the scene(personal opinion).
1 - He can only sell once.
2 - There's no evidence for this 1 million figure anywhere. There were early miners. Not millions of them, but more than just him.
2 - There's no evidence for this 1 million figure anywhere. There were early miners. Not millions of them, but more than just him.
If he would like to spend his bitcoins in future, it doesn't seem like that he would dump them fast. It would not be logical to dump them fast. Small moves would not be such a huge panic situation. Pricing of bitcoin would decline, but it would not be a crash.
At this stage it isn't something we even need to consider, because there isn't nearly enough volume to be able to sell $2,500,000,000 worth of Bitcoins without everyone noticing and also getting out, which would likely lead to the end of crypto as we know it... at least for a while.
Satoshi created a system and keeps calling it a peer to peer digital cash if you have ever read the paper. now do you think someone with the vision of creating a currency is going to "sell" the coins.
He might die, and his heirs might care more about having a couple of billion dollars than they care about Bitcoin.Imagine if some relative you didn't know you had, died and left you all his stuff, and going through it you found pages of printed out private keys, 50 BTC in each address. Or if you found the printed sheets in a thrift store from when they cleared out his house. I wonder how many people reading this would be able to resist temptation.
Do you see a couple billion dollars in orders waiting to buy btc at this price? If they sold more than ten million the slippage would probably be significant.
For all we know he could be the one pumping and dumping the market this whole time. He doesn't ever have to touch the coins people know about, he just knows he has them but he is probably holding many other wallets with coins nobody realizes are his and extracting fiat and precious metals by the truckload. At least that's what I'd do.
Satoshi created a system and keeps calling it a peer to peer digital cash if you have ever read the paper. now do you think someone with the vision of creating a currency is going to "sell" the coins.
He might die, and his heirs might care more about having a couple of billion dollars than they care about Bitcoin.Imagine if some relative you didn't know you had, died and left you all his stuff, and going through it you found pages of printed out private keys, 50 BTC in each address. Or if you found the printed sheets in a thrift store from when they cleared out his house. I wonder how many people reading this would be able to resist temptation.
Amazing that nobody asked this question before... 
The coins in satoshi's known addresses have been left there and not moved. It's possible that satoshi is afraid of doing so due to fear of his identity being tracked, or that he no longer has access to those addresses.
It could also be that he simply doesn't intend to sell, and would rather spend the coins when he can (after all, he did create a "peer-to-peer electronic cash system" - why he would sell his real money for fiat I have no idea).
Also, the 1 million figure is quite unlikely to be true, and the couple of hundred thousand that he most likely has in reality would not crash the market as severely as you think, especially since it's extremely unlikely for him to offload all the coins at once and that even if he did, it wouldn't be the end considering trading volume of >1 billion dollars these days.
It could also be that he simply doesn't intend to sell, and would rather spend the coins when he can (after all, he did create a "peer-to-peer electronic cash system" - why he would sell his real money for fiat I have no idea).
Also, the 1 million figure is quite unlikely to be true, and the couple of hundred thousand that he most likely has in reality would not crash the market as severely as you think, especially since it's extremely unlikely for him to offload all the coins at once and that even if he did, it wouldn't be the end considering trading volume of >1 billion dollars these days.
P.S. I also think the "Satoshi risk" is one of the main reasons why the Bitcoin ETF was rejected.
The SEC were extremely open about their reasons for rejecting the ETF, and are a traditionally conservative institution. I think this is childish reasoning from you.Quote from: coinmore_org
P.S.S. Satoshi, if you are reading this, please come back and express your views on how this scaling issue should be addressed
As if no one's asked that before... 
Satoshi's 1 million Bitcoins (worth $2.5b) out of my head.
it is not 1 million it is below that, the 1 mil is speculation. the fact is we don't know how many people were mining at the same time as Satoshi.also i say think about it this way:
Satoshi created a system and keeps calling it a peer to peer digital cash if you have ever read the paper. now do you think someone with the vision of creating a currency is going to "sell" the coins.
i don't think so. if they ever move they will move as a currency. lets say someday staoshi came back and wanted to buy a smart phone with his stash from a local shop, he will go there and pay 1000 satoshi and buy the latest iphone for example
there is nothing to worry in that case! it is just money entering back into circulation.
Quote
From what i have researched, Satoshi is a revered entity and almost "God like" in the Bitcoin community.
LOLQuote
P.S. I also think the "Satoshi risk" is one of the main reasons why the Bitcoin ETF was rejected.
no it had nothing to do with it.their reasons were pretty crystal clear.
1. not regulated.
2. end of discussion.
Firstly, this is not an attack on Bitcoin. I am a huge Bitcoin advocate but i can't seem to get the thought of Satoshi's 1 million Bitcoins (worth $2.5b) out of my head.
This is just a speculation, nobody knows how many bitcoin addresses actually belongs to satoshi and how much bitcoin those addresses contains. Now, we all know Satoshi has this huge stash of Bitcoins and we also know Bitcoin's overall valuation reacts to anything and everything. So im asking...What on Earth would happen if the "great one" was to suddenly move these coins ? Or what if he/she/they came out of the woodworks and came back to Bitcoin? From what i have researched, Satoshi is a revered entity and almost "God like" in the Bitcoin community. Are we immune from (what i like to call) the "Satoshi risk".
P.S. I also think the "Satoshi risk" is one of the main reasons why the Bitcoin ETF was rejected.
P.S.S. Satoshi, if you are reading this, please come back and express your views on how this scaling issue should be addressed (although i don't think your input alone should be the deciding factor considering we have to protect the decentralized/consensus aspects of your great invention)
If satoshi even moves 1 bitcoin from one of his known address, there will be huge panic on market which can easily dump the price but this is quite unlikely to happen anytime soon. I don't think satoshi is still alive and watching all this drama and speculation in bitcoin community. P.S. I also think the "Satoshi risk" is one of the main reasons why the Bitcoin ETF was rejected.
P.S.S. Satoshi, if you are reading this, please come back and express your views on how this scaling issue should be addressed (although i don't think your input alone should be the deciding factor considering we have to protect the decentralized/consensus aspects of your great invention)
if he would sell just one coin there would be a financial crises in the btc community....
just my 2 cents
Firstly, this is not an attack on Bitcoin. I am a huge Bitcoin advocate but i can't seem to get the thought of Satoshi's 1 million Bitcoins (worth $2.5b) out of my head.
This is just a speculation, nobody knows how many bitcoin addresses actually belongs to satoshi and how much bitcoin those addresses contains. Now, we all know Satoshi has this huge stash of Bitcoins and we also know Bitcoin's overall valuation reacts to anything and everything. So im asking...What on Earth would happen if the "great one" was to suddenly move these coins ? Or what if he/she/they came out of the woodworks and came back to Bitcoin? From what i have researched, Satoshi is a revered entity and almost "God like" in the Bitcoin community. Are we immune from (what i like to call) the "Satoshi risk".
P.S. I also think the "Satoshi risk" is one of the main reasons why the Bitcoin ETF was rejected.
P.S.S. Satoshi, if you are reading this, please come back and express your views on how this scaling issue should be addressed (although i don't think your input alone should be the deciding factor considering we have to protect the decentralized/consensus aspects of your great invention)
If satoshi even moves 1 bitcoin from one of his known address, there will be huge panic on market which can easily dump the price but this is quite unlikely to happen anytime soon. I don't think satoshi is still alive and watching all this drama and speculation in bitcoin community. P.S. I also think the "Satoshi risk" is one of the main reasons why the Bitcoin ETF was rejected.
P.S.S. Satoshi, if you are reading this, please come back and express your views on how this scaling issue should be addressed (although i don't think your input alone should be the deciding factor considering we have to protect the decentralized/consensus aspects of your great invention)
Satoshi's 1 million Bitcoins (worth $2.5b) out of my head.
it is not 1 million it is below that, the 1 mil is speculation. the fact is we don't know how many people were mining at the same time as Satoshi.also i say think about it this way:
Satoshi created a system and keeps calling it a peer to peer digital cash if you have ever read the paper. now do you think someone with the vision of creating a currency is going to "sell" the coins.
i don't think so. if they ever move they will move as a currency. lets say someday staoshi came back and wanted to buy a smart phone with his stash from a local shop, he will go there and pay 1000 satoshi and buy the latest iphone for example
there is nothing to worry in that case! it is just money entering back into circulation.
Quote
From what i have researched, Satoshi is a revered entity and almost "God like" in the Bitcoin community.
LOLQuote
P.S. I also think the "Satoshi risk" is one of the main reasons why the Bitcoin ETF was rejected.
no it had nothing to do with it.their reasons were pretty crystal clear.
1. not regulated.
2. end of discussion.
Satoshi's 1 million Bitcoins (worth $2.5b) out of my head.
it is not 1 million it is below that, the 1 mil is speculation. the fact is we don't know how many people were mining at the same time as Satoshi.also i say think about it this way:
Satoshi created a system and keeps calling it a peer to peer digital cash if you have ever read the paper. now do you think someone with the vision of creating a currency is going to "sell" the coins.
i don't think so. if they ever move they will move as a currency. lets say someday staoshi came back and wanted to buy a smart phone with his stash from a local shop, he will go there and pay 1000 satoshi and buy the latest iphone for example
there is nothing to worry in that case! it is just money entering back into circulation.
Quote
From what i have researched, Satoshi is a revered entity and almost "God like" in the Bitcoin community.
LOLQuote
P.S. I also think the "Satoshi risk" is one of the main reasons why the Bitcoin ETF was rejected.
no it had nothing to do with it.their reasons were pretty crystal clear.
1. not regulated.
2. end of discussion.
Firstly, this is not an attack on Bitcoin. I am a huge Bitcoin advocate but i can't seem to get the thought of Satoshi's 1 million Bitcoins (worth $2.5b) out of my head.
Now, we all know Satoshi has this huge stash of Bitcoins and we also know Bitcoin's overall valuation reacts to anything and everything. So im asking...What on Earth would happen if the "great one" was to suddenly move these coins ? Or what if he/she/they came out of the woodworks and came back to Bitcoin? From what i have researched, Satoshi is a revered entity and almost "God like" in the Bitcoin community. Are we immune from (what i like to call) the "Satoshi risk".
P.S. I also think the "Satoshi risk" is one of the main reasons why the Bitcoin ETF was rejected.
P.S.S. Satoshi, if you are reading this, please come back and express your views on how this scaling issue should be addressed (although i don't think your input alone should be the deciding factor considering we have to protect the decentralized/consensus aspects of your great invention)
Now, we all know Satoshi has this huge stash of Bitcoins and we also know Bitcoin's overall valuation reacts to anything and everything. So im asking...What on Earth would happen if the "great one" was to suddenly move these coins ? Or what if he/she/they came out of the woodworks and came back to Bitcoin? From what i have researched, Satoshi is a revered entity and almost "God like" in the Bitcoin community. Are we immune from (what i like to call) the "Satoshi risk".
P.S. I also think the "Satoshi risk" is one of the main reasons why the Bitcoin ETF was rejected.
P.S.S. Satoshi, if you are reading this, please come back and express your views on how this scaling issue should be addressed (although i don't think your input alone should be the deciding factor considering we have to protect the decentralized/consensus aspects of your great invention)
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