What would happen if Satoshi Returned ? - page 4.

cryptor0th

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Quote from: knowhow on May 08, 2016, 03:31:23 PM

Well the only problem around a return of Satoshi would be the coins he really own,if he drop some people could follow him and make bitcoin worth nothing in the short time,because to make him drop their coins would mean two things something bad coming to bitcoin or he dont wanna anymore be conected to bitcoin ,in any way he had made already bitcoin soo a returning now would just expose him and make him a target from the country he lives.

Pretty much all the argument I've heard against his return : The coins he holds.

knowhow

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Well the only problem around a return of Satoshi would be the coins he really own,if he drop some people could follow him and make bitcoin worth nothing in the short time,because to make him drop their coins would mean two things something bad coming to bitcoin or he dont wanna anymore be conected to bitcoin ,in any way he had made already bitcoin soo a returning now would just expose him and make him a target from the country he lives.

cryptor0th

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Merit: 100

Quote from: --Encrypted-- on May 08, 2016, 01:32:48 PM

FUDsters would go full throttle, using satoshi's suspected wealth as their weapon. some people would refuse to believe him/her and starts asking questions. and the traders might go to panic mode.
one thing for sure, the community will be thrown into uproar.

Possibly. Or maybe the uproar passes in a month's time when the people realize everything is decentralized. I didn't see a heavy downward pressure on the price of Btc during the wright fiasco.

--Encrypted--

copper member

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hee-ho.

FUDsters would go full throttle, using satoshi's suspected wealth as their weapon. some people would refuse to believe him/her and starts asking questions. and the traders might go to panic mode.
one thing for sure, the community will be thrown into uproar.

cryptor0th

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Activity: 218

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Quote from: AgentofCoin on May 08, 2016, 01:26:24 PM

Quote from: cryptor0th on May 08, 2016, 12:59:46 PM

Quote from: ASHLIUSZ on May 08, 2016, 12:57:24 PM

Quote from: cryptor0th on May 08, 2016, 12:23:53 PM

Quote from: tobacco123 on May 08, 2016, 12:21:04 PM

He might still have some influence over the blocksize debate and voice his opinions, and yes the 1 million coins he is holding could potentially flood the market, which the exchanges can actually help to buffer by setting some rules?
Other than that, bitcoin is basically a trustless system and depends on noone, controlled by noone.

"depends on noone, controlled by noone"
What about the miners ?
Don't they have a certain amount of influence?

Bitcoin's value is a perceived regard for its benefits and usefulness that the Bitcoin protocol depends upon for its existence. Bitcoin Miners are rewarded bitcoins for processing.

What am trying to say is, don't they practice a certain amount of power if they pool together 51 percent of mining power.

Craig, stop writing questions to the community that you already know the answers to.
Start working on your book. Have you reached your 5000 word quota for today?

Man, I wish I were Craig. Dude is a millionaire. Am struggling to pay college tution.

AgentofCoin

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Quote from: cryptor0th on May 08, 2016, 12:59:46 PM

Quote from: ASHLIUSZ on May 08, 2016, 12:57:24 PM

Quote from: cryptor0th on May 08, 2016, 12:23:53 PM

Quote from: tobacco123 on May 08, 2016, 12:21:04 PM

He might still have some influence over the blocksize debate and voice his opinions, and yes the 1 million coins he is holding could potentially flood the market, which the exchanges can actually help to buffer by setting some rules?
Other than that, bitcoin is basically a trustless system and depends on noone, controlled by noone.

"depends on noone, controlled by noone"
What about the miners ?
Don't they have a certain amount of influence?

Bitcoin's value is a perceived regard for its benefits and usefulness that the Bitcoin protocol depends upon for its existence. Bitcoin Miners are rewarded bitcoins for processing.

What am trying to say is, don't they practice a certain amount of power if they pool together 51 percent of mining power.

Craig, stop writing questions to the community that you already know the answers to.
Start working on your book. Have you reached your 5000 word quota for today?

AGD

legendary

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Keeper of the Private Key

A lot of people would ask him for a donation.

cryptor0th

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Activity: 218

Merit: 100

Quote from: ASHLIUSZ on May 08, 2016, 12:57:24 PM

Quote from: cryptor0th on May 08, 2016, 12:23:53 PM

Quote from: tobacco123 on May 08, 2016, 12:21:04 PM

He might still have some influence over the blocksize debate and voice his opinions, and yes the 1 million coins he is holding could potentially flood the market, which the exchanges can actually help to buffer by setting some rules?

Other than that, bitcoin is basically a trustless system and depends on noone, controlled by noone.

"depends on noone, controlled by noone"

What about the miners ?
Don't they have a certain amount of influence?

Bitcoin's value is a perceived regard for its benefits and usefulness that the Bitcoin protocol depends upon for its existence. Bitcoin Miners are rewarded bitcoins for processing.

What am trying to say is, don't they practice a certain amount of power if they pool together 51 percent of mining power.

ASHLIUSZ

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Activity: 994

Merit: 502

Quote from: cryptor0th on May 08, 2016, 12:23:53 PM

Quote from: tobacco123 on May 08, 2016, 12:21:04 PM

He might still have some influence over the blocksize debate and voice his opinions, and yes the 1 million coins he is holding could potentially flood the market, which the exchanges can actually help to buffer by setting some rules?

Other than that, bitcoin is basically a trustless system and depends on noone, controlled by noone.

"depends on noone, controlled by noone"

What about the miners ?
Don't they have a certain amount of influence?

Bitcoin's value is a perceived regard for its benefits and usefulness that the Bitcoin protocol depends upon for its existence. Bitcoin Miners are rewarded bitcoins for processing.

cryptor0th

full member

Activity: 218

Merit: 100

Quote from: tobacco123 on May 08, 2016, 12:21:04 PM

He might still have some influence over the blocksize debate and voice his opinions, and yes the 1 million coins he is holding could potentially flood the market, which the exchanges can actually help to buffer by setting some rules?

Other than that, bitcoin is basically a trustless system and depends on noone, controlled by noone.

"depends on noone, controlled by noone"

What about the miners ?
Don't they have a certain amount of influence?

tobacco123

sr. member

Activity: 552

Merit: 250

He might still have some influence over the blocksize debate and voice his opinions, and yes the 1 million coins he is holding could potentially flood the market, which the exchanges can actually help to buffer by setting some rules?

Other than that, bitcoin is basically a trustless system and depends on noone, controlled by noone.

cryptor0th

full member

Activity: 218

Merit: 100

So amidst all the Satoshi hype that's gone in with each time the media saying they have found the man, I have been wondering what would truly happen if Satoshi did return. As it stands, I believe, nothing really would happen because the currency has reached a point of decentralization where-in Satoshi cannot single handedly influence the project anymore. He will definitely have a cult following and companies begging him to be on their board. Hell, I even see him getting a Nobel prize for economics, but apart from that what do you think could be the possible implications ?

For me, the single biggest concern is the 1m+ Bitcoin in his possession.
Technically, he single handedly owns over 5 percent of this monetary system, which in my opinion is a heavy concentration with a single individual. He could definitely liquidate it over time, but I doubt how the markets would react to the same.

Thoughts guys ?

Topic: What would happen if Satoshi Returned ? - page 4. (Read 2757 times)