What if ... S. Nakamoto lost all priv. key and can't use "his" btc? - page 2.

BillyBobZorton

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Quote from: ATguy on November 30, 2015, 02:36:30 PM

Quote from: bitbollo on November 30, 2015, 01:47:20 PM

Or even, if this happened, what are the consequences for btc environment?
Thank you to all responders/readers

I dont think it can be proved Satoshi coins are really lost, so as long as noone spending a lot of early coins (first month or so), we can assume Satoshi either lost the coins or he does not want to spend these coins.

There is a way to prove the coins are lost by sending them to obvious unspendable address, but there is no reason to do it.

At this point it's clear that if satoshi is still holding coins, he is the ultimate holder, he is the most legendary holder of coins ever. I mean he is super rich and not a single BTC was ever expended. The other possibilities is he died or he lost them.

junglist.massive

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no way he lost it.
How you can imagine to make that kind of mistake in project that you invent? He is waiting for 5k or 10k and will start to selloff

Meuh6879

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Quote from: bitbollo on November 30, 2015, 01:47:20 PM

S. Nakamoto lost all priv. key and can't use "him" btc?

it (they) don't have do this error.
proof : http://btc.blockr.io/address/info/12c6DSiU4Rq3P4ZxziKxzrL5LmMBrzjrJX

bitbollo

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Quote from: redsn0w on November 30, 2015, 05:28:55 PM

His btc not him bitcoin Grin

, however who cares?

however... me Grin

Quote from: franky1 on November 30, 2015, 04:37:59 PM

Quote from: bob123 on November 30, 2015, 04:28:14 PM

I dont think he would ever lose those private keys Cheesy

But in case he did.. well.. he kinda deleted "some" coins and made all other coins be worth more.

you do know that in the first year 2009-2010. bitcoinqt was very buggy and the coins were worthless so most days he would compile new versions to test out and require deleting wallets to test out new ways of storing keys. so its obvious that he doesnt have access to all the keys..

but this a really interesting "news" Cheesy

(for me).

about old forum, there is a backup to read "from" post 0 ? Cheesy

I remember that this is only a "new" version of an old forum...

Mickeyb

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Move On !!!!!!

Quote from: bitbollo on November 30, 2015, 01:47:20 PM

As subject...
What if ...
S. Nakamoto lost all priv. key and can't use "him" btc?
(can't sign a message etc etc?!?)
I know it's likewise "impossible" but did you think there is a possibilities about this?
Or even, if this happened, what are the consequences for btc environment?
Thank you to all responders/readers

Have you thought about that he has actually done this on purpose, so that he wouldn't fall in a temptation one day to use, sell his bitcoins or to intervene when we asked him to, about the block size increase for example.

I think about this every now and then and this is not impossible.

About your questions: Really nothing, our coins are just worth a bit more!

redsn0w

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#Free market

His btc not him bitcoin Grin

, however who cares?

hughbt

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If he didn't lose it, it is a great sign for all investors. It means he values Bitcoin a lot more than than the current ATH. There is also no reason for him to sell his stash(unless he has some kind of personal problems) at the current price. Also after mass adoption of Bitcoin there would be no reason for him to hide, so the price will be very high + he will be safe. Perfect moment to sell.

I wonder if he would be able to transfer and sell his coins before the market reacts and what that reaction would be.

Raimonn

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He knows how it works, and that is impossible to recover the bitcoins if the keys are lost. I suppose that with all that he knows about security and bitcoin network he would have copies of his wallets. But if he lost it and can't recover from any copy, that isn't a problem for us, with less bitcoins in circulation, our bitcoins would have more value.

eddie13

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BTC or BUST

Do we know that he did have the keys for the genesis block in the first place? Did he ever sign from that addy or anything?

Is it possible the genesis block was mined to an address that he never had the private key to in the first place?

spazzdla

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Quote from: croato on November 30, 2015, 04:38:15 PM

If keys are lost, coins are lost. Personally, i think he just buried that coins there but everything is possible. We dont even know for sure if he is still live.

I hightly doubt it. Odds are very high he destroyed them as 1 Mill BTC could decimate any value it has.

IMO he has a stash of several thousand BTC, no one he knows, knows he has it. It would seem his ability to hide himself was unmatched, may he forever remain unknown.

croato

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1BkEzspSxp2zzHiZTtUZJ6TjEb1hERFdRr

If keys are lost, coins are lost. Personally, i think he just buried that coins there but everything is possible. We dont even know for sure if he is still live.

franky1

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Quote from: bob123 on November 30, 2015, 04:28:14 PM

I dont think he would ever lose those private keys Cheesy

But in case he did.. well.. he kinda deleted "some" coins and made all other coins be worth more.

you do know that in the first year 2009-2010. bitcoinqt was very buggy and the coins were worthless so most days he would compile new versions to test out and require deleting wallets to test out new ways of storing keys. so its obvious that he doesnt have access to all the keys..

bob123

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I dont think he would ever lose those private keys Cheesy

But in case he did.. well.. he kinda deleted "some" coins and made all other coins be worth more.

ivanst776

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He will try to destroy the network and then bring it back at the beginning and generate the new private key, this is just imagination i don't know what will happen.

bitbollo

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Quote from: jonald_fyookball on November 30, 2015, 02:45:12 PM

Quote from: bitbollo on November 30, 2015, 01:47:20 PM

As subject...
What if ...
S. Nakamoto lost all priv. key and can't use "him" btc?
(can't sign a message etc etc?!?)
I know it's likewise "impossible" but did you think there is a possibilities about this?
Or even, if this happened, what are the consequences for btc environment?
Thank you to all responders/readers

He probably wont sign a message anyway.

So, business as usual.

Dumb thread.

It's not about a simply signature. But generally why these coin are there?
Some one told that "he" have "millions" of dollars in btc equiv.
I try to understand with other members why this btc are there and some info about the private key.

I think discussion about these coin are important and not dumb.

I am sorry but, meanwhile I have a senior membership in this forum I don't have read ALL discussion about s. nakamoto.

PolarPoint

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I think the community has accepted that Satoshi will never use his coins. He literally has millions of them. If any of those were moved, it would send shockwaves to the markets. It would be better if he indeed has lost his keys.

bitbollo

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Quote from: virtualx on November 30, 2015, 02:43:23 PM

Quote from: bitbollo on November 30, 2015, 01:47:20 PM

As subject...
What if ...
S. Nakamoto lost all priv. key and can't use "him" btc?
(can't sign a message etc etc?!?)
I know it's likewise "impossible" but did you think there is a possibilities about this?
Or even, if this happened, what are the consequences for btc environment?
Thank you to all responders/readers

If he does not have access to his private keys, bitcoin is more scarce and would be more valuable. Bitcoins do not depend on one user (Satoshi), the system is decentralized. All transactions occur without a third party middleman (except those who use a company to host their wallet). Satoshi still had his key last year (he kept them since 2011 or earlier), so I think it is very unlikely that he lost them.

In every case, also if it real or not this "what if",

how we could know?

Actually seems that this btc are "freeze".
Probably due the big echo of btc he know that every movement of every wallet can create more interest to identify who is "s.nakamoto"-
Therefore there is the possibility that these "first coins" will remain there, to avoid the interest to identify who is.

" Satoshi still had his key last year (he kept them since 2011 or earlier), so I think it is very unlikely that he lost them. "

Some one has never seen a backup?

spazzdla

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This has been discussed before.. many times.. Most believe Satoshi destroyed the coins. He seems to be a support of Humanity thus we will never hear from satoshi again. His word is to powerful, it is best to let satoshi be a legend and accept who ever tries to claim they are him are lying even if they are not.

Satoshi has done all he can for bitcoin the best thing he could do is never pop up again as it seems is his plan.

Patejl

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You have eyes but can see Mt. Tai?!

What happens if he has already lost them and is crying somewhere? Stupid satoshi threads make me wonder why there isn't a "Satopeculation" board already.

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

Quote from: bitbollo on November 30, 2015, 01:47:20 PM

As subject...
What if ...
S. Nakamoto lost all priv. key and can't use "him" btc?
(can't sign a message etc etc?!?)
I know it's likewise "impossible" but did you think there is a possibilities about this?
Or even, if this happened, what are the consequences for btc environment?
Thank you to all responders/readers

He probably wont sign a message anyway.

So, business as usual.

Dumb thread.

Topic: What if ... S. Nakamoto lost all priv. key and can't use "his" btc? - page 2. (Read 2268 times)