Why is there such a big problem with Satoshi? - page 2.

Denker

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Quote from: KaChingCoinDev on December 10, 2015, 05:09:14 PM

So this Craig Wright claims to be Satoshi. It has the media and half the bitcoin community up in arms. Why is it such a big deal? The whole point of bitcoin was to have nobody controlling it. Whether or not Craig is Satoshi, why does anybody care? It isn't important to Bitcoin at all. The miners and the people who transact via Bitcoin are more vital to it's survival than finding Satoshi will ever be.

It's true when you say that nothing would change if we would know who Satoshi is.
The mainstream media however doesn't seem to understand what decentralisation really means, or what open source is.
A part of them still seems to think that Bitcoin is controlled by somebody.
Furthermore it's all about sensationalist journalism.And maybe or lets say there are definitely people out there hunting for those 1 million BTC.And to find those you have to find out who Satoshi is.

readysalted89

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Quote from: Amph on December 11, 2015, 06:39:17 AM

Quote from: ConnAlt on December 11, 2015, 06:31:56 AM

I think it's because people would like to know who invented the amazing bitcoin. Other than that I don't think he's really relevant.
We're all satoshi, we are the bitcoin users.

they are more worried about the 1M coins, i know the first thing i would ask to satoshi is where are those 1M, if he already dumped at 1200 or they are lost

or maybe a scammer scammed him, and he is now prepared to dump at some point, those info could be important

He can't have dumped at 1200 because most of the early Bitcoins mined by Satoshi have never moved from their addresses. If he'd sold them they would have moved when he transferred them to an exchange. People have analysed the early mined coins and worked out which must have been mined by Satoshi, and they have computers scanning the internet that will alert them the second any of those coins move.

hunnaryb

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Quote from: Amph on December 11, 2015, 06:39:17 AM

Quote from: ConnAlt on December 11, 2015, 06:31:56 AM

I think it's because people would like to know who invented the amazing bitcoin. Other than that I don't think he's really relevant.
We're all satoshi, we are the bitcoin users.

they are more worried about the 1M coins, i know the first thing i would ask to satoshi is where are those 1M, if he already dumped at 1200 or they are lost

or maybe a scammer scammed him, and he is now prepared to dump at some point, those info could be important

I thought nonce analysis shows that the likely 1M coins have not been moved, and have not been moved. Very unlikely the market would be able to sustain 1M dump even if you started from $1200

Amph

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Quote from: ConnAlt on December 11, 2015, 06:31:56 AM

I think it's because people would like to know who invented the amazing bitcoin. Other than that I don't think he's really relevant.
We're all satoshi, we are the bitcoin users.

they are more worried about the 1M coins, i know the first thing i would ask to satoshi is where are those 1M, if he already dumped at 1200 or they are lost

or maybe a scammer scammed him, and he is now prepared to dump at some point, those info could be important

readysalted89

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Quote from: enhu on December 11, 2015, 06:09:26 AM

IRS is scary than CIA and FBI combined - Satoshi should really be hiding Grin

While Satoshi will never go out publicly not just because of the media. The quest to finding him sure will help making Bitcoin known so this can be a good for the BTC economy at the same time.

Satoshi left a headline from a British newspaper as a message in the blockchain. If he's British then I don't suppose he has to worry about its version of the IRS because I don't think you can get taxed on Bitcoins in Britain until you sell them for fiat. As far as I know you can hold a million Bitcoins in Britain and it's nothing to do with the tax man unless you sell them.

BCEmporium

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No one actually knows how many bitcoins he has, he announced Bitcoin by 9th Jan 2009 at a mailing list, so he was not the only one able to do it from the very beginning. 1,1 million is an estimation, not an actual figure.

ConnAlt

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I think it's because people would like to know who invented the amazing bitcoin. Other than that I don't think he's really relevant.
We're all satoshi, we are the bitcoin users.

HarryKPeters

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Quote from: achow101_alt on December 10, 2015, 05:10:02 PM

Because people want to know who Satoshi is, and the fact that his identity is unknown increases the mystery and the curiosity that people have.

Add to that the fact that he owns 1 millions bitcoins. He can crash the price instantly.

In the wired article i read that he will not sell before 2020 but after that we will see maybe some very dark times. If 5% of all bitcoins enter the market (he also pledged some of his coins to other parties) it will be quite some blood on the streets.

xuan87

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well for now bitcoin has been a great deal for everybody,

bitcoin has even been predicted to become one of the global currency that someday can replaced fiat money

this is one of the phenomenal achievement, so i predicted in future, one of the institution will give award to this inventor

enhu

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IRS is scary than CIA and FBI combined - Satoshi should really be hiding Grin

While Satoshi will never go out publicly not just because of the media. The quest to finding him sure will help making Bitcoin known so this can be a good for the BTC economy at the same time.

croato

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I dont think there is big problem with Satoshi at all. Some ppl think he could harm Bitcoin by selling his coins (even we cant tell if he have keys from those addresses) and other are just curious who he is. If you ask me, i would like if we never find out.

1Referee

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Satoshi himself is not a problem at all. I think the main problem are the sleeping coins that he owns. I was watching a news channel here were this situation was being discussed. They claim that Satoshi has around 1,000,000 coins lying somewhere. I do believe he has a good load of coins, but nothing in the range of the 1 million.

It's purely the IRS that is hunting for Satoshi. They want his money. They want to tax him, or even worse. If they for whatever reason confiscate his coins, then the whole community will get shaken up. These coins will probably get dumped on exchanges to get fiat in return, or perhaps you will see the FBI put up these coins for auction. Either way, it means that there will be a huge load of coins, that were sleeping for years, come to life, and into the market.

ultimatesky

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SkyFall

Yeah, I don't understand this either. I don't think it really matters either.
We are all satoshi whether you own a lot or just a little.

LiteCoinGuy

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In Satoshi I Trust

this media stories suck because they are reveal the poor journalism that we have.

crazyivan

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I really do not understand the entire fuss. Who cares who Satoshi really is, let the man who created something really great be.

It does bring additional press exposure to BTC and crypto and as we all know there s no bad press.

Mickeyb

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Move On !!!!!!

There is no problem in my opinion. The media and the whole community just want to know who Satoshi really is?!

When you think of it more closely, this whole Bitcoin creation thing and Satoshi situation is as mystical as it can get. And as bitcoin is climbing in its success it will just be more and more mystical.

I expect for frenzy just to become bigger as time passes.

Snorek

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Quote from: nicked on December 10, 2015, 05:21:32 PM

Satoshi has somewhere around one million coins. If these coins were to be sold on the market, it could crash the price.

Yes, he have all that coins piled up, but the real question is: does it change if we knew who is Satoshi? Not really. It is not like we can make him keep his coins untouched forever.
Whenever his identity is known or not he can start to sell these coins if he chose so.

Amph

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Quote from: nicked on December 10, 2015, 05:21:32 PM

Satoshi has somewhere around one million coins. If these coins were to be sold on the market, it could crash the price.

no one said that those coins will be sold all at once, selling them slowly will not cause any harm

let's say 1k coins per day in 3 years of a time frame, it will be like a major pressure coming from miners

and if he is really satoshi he will not harm bitcoin by selling them and destroying the market

Wapinter

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Quote from: KaChingCoinDev on December 10, 2015, 05:09:14 PM

So this Craig Wright claims to be Satoshi. It has the media and half the bitcoin community up in arms. Why is it such a big deal? The whole point of bitcoin was to have nobody controlling it. Whether or not Craig is Satoshi, why does anybody care? It isn't important to Bitcoin at all. The miners and the people who transact via Bitcoin are more vital to it's survival than finding Satoshi will ever be.

I think most want to meet Satoshi to beg some free bitcoins from him Wink

AndySt

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Now the development and promotion deals with a completely different team. His appearance in light is very unlikely to be anything seriously affected. Another question in his millions.

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