Topic: Why would Satoshi not be dumping? (Read 4899 times)

Is it that hard to believe that there are people today that dont care about fiat money they have? Especially given the fact that he went through all the trouble of making an alternative
financial system because he didnt believe in fiat in the first place; so why would he give up on his own project by hedging against it?
I believe he has enough wealth even without selling his bitcoins; the fact that he obviously has a good understanding in finances, because when u look at it, bitcoin was created in a very specific way,
and it couldnt have come from someone without a good background.
btw if im not mistaken, there are some flagged adresses that are believed to be satoshi's, and their funds are not moving at all, so theres that also.

cheers

We never know if he is or isn't. He can easily have a lot of other bitcoin addresses or mined ones, which could have already been sold, giving him enough amount for a lifetime. If he needs the other coins, he might sell them in future. Its hard to say that he didn't already do that.

The point is that he cannot spend these coins without giving up the secret of his identity.  No matter what he does in order to spend those coins against something else, the one receiving the payment would of course know who is his customer, to provide the goods or services.

Everybody knows that if you receive a payment in bitcoin that comes from the 37th block on the chain, it is Satoshi him/herself who is paying you, right.

Even putting those coins in a coinjoin style laundry would be extremely difficult without being traced.  Of course he could use Tor, but Tor is not entirely sure either.  So many people are eager now to find out who she is, that it would be way way too risky to ever sign a transaction on those coins.

Also, the effect would be devastating on bitcoin: if Satoshi sold his/her coins, what does that give as a signal about the future of bitcoin ?  Any movement on those coins will be seen immediately.

If Satoshi wanted to let know that these coins are not redeemable, then there would be other ways to do so.  The simplest would be to send them to a script that simply states OP_RETURN.

It's a possibility and not out of the question.

My guess is that he has cashed out a few, and if he hasn't he should, because certainly he deserves it.

it is hard to believe but not all humans are greedy. i don't think he created bitcoin to get rich (unlike altcoin devs).

He still loves his coins, obviously.

He is all but certainly much more then a millionaire. He is most likely a multimillionaire (he probably actually has several hundred million dollars worth of bitcoin).

I would say that he has not sold his bitcoin because there are no viable options that he can sell his bitcoin that would not involve his identity being discovered.

He posted that it is never good to delete a wallet for any reason.

You don't know who he is. He probably made it in a way that people like you would not be able to link any moves to his people

Im sure he does. He is intelligent enough to create bitcoin, hence intelligent enough to not lose his original wallet.

Why would he erase it? Even back then hard drive space wasn't such a rare commodity only takes a few seconds to backup the wallet.

he doesn't have the wallet.
back then bitcoin was fun money he probably erased and created a new wallet tens of times during 2009-2010.

The point is that you can verify for yourself the first 24000 blocks or so: the reward addresses still contain the 50 coins, and have undergone no transaction at all (very funny, the first address, of block 0, has received quite some extra coins, even in 2014)

A couple of million would keep most people happy. I'd be surprised if Satoshi is not already a millionaire. He will probably hold any coins he has left and dump a few during each new rally, but not so many that he draws attention to himself.

Pretty sure he took a big dump at 1k and bought all he needed and still holds most of the Bitcoin reserve. Other bitcoin lotery winers aka early adopters like rpietila bough a damn castle, im sure most luckytime guys sold and bought shit already, but still hold a big % of bitcoin just in case it doesnt crash.

Maybe this satoshi guy never existed - as such.

Would you explain how can Bitcoin be feasible for governments at all? Emission is controlled and known in advance, contrary to USD fairy tale which they emit at their will.

Satoshi is either an incredibly smart single individual or a collective mind with an end goal. Personally i think its too much for one individual to create so i believe its a collective hive mind if you will.

The coins mined by satoshi were likely part of the test as it grew. It would be detrimental for those to be sold off while the currency is still in adoption phase. If it truely is a group creation or a government creation we won't see those coins go for many years to come.... its not feasible to sabotage the project.

Nobody should worry about those coins destroying market value as they would be sold off when the market value increases way more.

For now spread the BTC love and increase its adoption and value. Thats all we can do if we do indeed believe in currency evolved.

It would still be better if he would somehow make it known what happened or is going to happen with those coins....

The fact that he never combined any coins from those thousands of addresses might indicate that most of those wallets were never saved. To the end, the best way to advertise a system's advantage is that the creator never benefited directly from the system

He is likely either dead or destroyed his coins and is true social recluse.

One day his coins will be a big problem, the reason i think he is dead is because he knows what a million bitcoins lurking can mean to the stability of the market and he clearly wanted bitcoin to take over as a payment medium. He would have resolved his million bitcoins by now if he could.

He could resolve the million coin problem in many different ways but I would vote for him doing a viral marketing campaign that will give away his bitcoins on a date in the near future, say six months. Everyone with a changetip account for example will get a satoshi tip that all told will add up to a million coins. yes the price may dive afterwards but the uptick in real users would offset it and send bitcoin to mass adoption.

Satoshi can, with one well planned event, send bitcoin into the mainstream for good.

Come on Satoshi contact me and I will help you get this done. I won't even ask you to pay me.

Maybe he was Richard Bransons test pilot

Perhaps he died? Or he wants to hold till his coins are worth trillions of $.

How do you know he isn't old now?

Satoshi's job is not over. Here's how he should spend his fortune! Come on Satoshi!

Insider info:
Satoshi still owns every single one of his coins

Man, I wish someone would write an espionage-thriller novel about Satoshi.
The potential plot elements are all there - genius on the run, conspiracy, shadowy elite, hidden fortune, assassination, NSA - only thing missing is a leggy blonde.

I know of one too. For some, principles are everything.

Technically speaking can you have a legacy if you are anonymous?

Why should he/she/they dump?
It's not about the money.

No I wouldn't, but I'm not an expert in cryptography or online anonymity. I'm not trying to convince anyone, that's just what I think, is that he passed away.

^Does being Bitcoin-rich mean hiding out for the rest of your life?
Why is it that fiat billionaires are not worried about disclosing their identities?

Would you feel safe if you had half a billion dollars worth of bitcoins on a pen drive in your pocket? It would be bad enough if almost nobody else knew about it except perhaps your family. In Satoshi's shoes I would not want to take the slightest chance that the whole world could find out my identity by posting here.

I believe Satoshi was an individual who is now deceased. It doesn't make sense to me why he doesn't post anymore. Some indicate it is so he isn't tracked down, but then why did he post before? With his knowledge he could easily find a way online without being traced.

People assume satoshi has a huge load of Bitcoins, but he wasn't the only one mining in the very early months of Bitcoin.

A lot coins have been moved since 2011 so he might actually have sold some. (2011 Bitcoin started to gain some value)

And still there are so many "sleeping" Bitcoins right now, that haven't been touched in year, the owner knows that it's better to keep them untouched.

I read about this British guy whose HDD was discarded and when Bitcoin boomed he figured it was in a landfill. He got quotes of what it would take to dig the whole site and then gave up.

best post so far

He lost the keys.

I think satoshi has alzheimer and he has forgotten what he has

Maybe that happened and he topped himself?


I would certainly like to think that. It does make you wonder if this is the case seeing as he hasn't spent them... yet.

I think he "doesn't like"  to be rich , he is only happy to have created a new revolutionary currency  ( And this is  a really great thing).

I'm also of the opinion that Bitcoin is likely the product of some western governmental agency or group.  Either as a hedge to fiat collapse or to destabilize authoritarian regimes by giving the general population in them a method to send and receive money outside of their local governments control.  So many countries have printed way too much money and its hard to envision anything other than collapse(Exodus to digital currency) happening at some point in the future.  So far you see a trend of Russia and China "banning" it.
If you read through all his posts he uses UK English at times but its just a smattering.  Someone did a plot of all the timestamps of his posts that pointed toward UTC -05:00 or UTC -06:00 (North American Eastern or Central Time Zones).  He is highly intelligent and his posts are clearly from someone well educated in the US/EU.  My Guess is an American that studied abroad some or a European that emigrated to the US and has been in the US for a long time.  I think its likely that the person posting was a single individual but was working with a group to produce bitcoin with a bigger picture goal than just "sticking it do da man" (banks/governments in this case).

His Writings http://satoshi.nakamotoinstitute.org/
Wikipedia http://en.wikipedia.org/wiki/Satoshi_Nakamoto

I think Satoshi's HDD crashed and he said, "F-it, I'm done with this!" 

- Maybe he will dump them and he's just waiting to become a trillionaire?
- maybe he's dead
- maybe he's just a top bloke and doesn't think it's fair to spend them?
- Maybe he sees the potential like most of us and can do more good with them in the future.

Who knows, only time will tell.

If he is individual, he probably mined much more coins then those million we know and is very rich anyway.

Someone with the ability and knowledge to create Bitcoin
Is likely already rich, so they don't need to sacrifice their anonymity for some more cash
(That said if Satoshi ever secretly released a book on the internet I would get it ^_^)

Either that or he is saving it for the day when he needs it to take over the world after we do all the foundation work for him 

Yeah, come 2020, US to China: "we owe you three hundred trillion dollars. But that would be hard for us to transport so here's your 3 bitcoins. Thanks btw!"

As what comes to Satoshi's identity

Somehow I believe that he might be individual who wanted to change the world (and already succeeded in doing so, future will make the judgement on this). I know couple of these kinds of guys and what is remarkable of them is that their principles cant be bought with money.

Other possibility which makes perfect sense is that the debt of USA is so big that I think they will do everything to wiggle out of the situation. Every born american is bonded with over 100 000 dollars of debt. Its their birth right (or weight) at the moment. And situation is just worsening. If I recall average state-loan for average family is something like 500.00 dollars! It's just sick.

If somehow the largest bagholder would be USA and their current debt is in dollars, they would just need to make sure that bitcoin (or some other crypto currency) is to succeed in future and voila, things look wholly different.

Only way to them to repay their debts is to crash the whole dollar system and invaluate the dollar and THEN make the payment.  In the meantime dollar should be replaced of course with other currency and here bitcoin comes handy. Basicly they need to do nothing, just push little behind the curtain and it happens all by itself! And at the same time they could blame it on everybody else but them=)

And when somebody has the biggest bag in bitcoin ecosystem he rules the world !

These auctions they are doing might just be theatrical while at the same time accumulating/holding in the background.

What saddens me is that I have started to think the latter option is more reasonable  

Whoa, I think I just exceeded myself in the reasoning XD

why dump and destroy his own creation when he can sell a few at a time and have a decent quality of life

+1

Anybody with half a billion probably starts worrying about their family being kidnapped. They would probably end out surrounded by bodyguards at all times. I have read stories by billionaires stating it's not a pleasant experience because of security fears. 

Since I'm back on ignore, I can only assume your question was rhetorical.

i put you off ignore for this single occasion.

i know i drank the bitcoin kool aid. guess what: that is why i am here.

how do you explain your unwelcome, stinky, non-edjucating, non-enlighting, no-good-whatsoever, fucking annoying, never slowing down, fishy, retarded, boring, un-needed appearance postings here ?

*deleted insult*

back to ignore

edit: insulting individuals is not ok. i apologize to you.

Here's your proof: Being rich is an idiot's end-game. Only people with empty brains dream of that. Satoshi is not an idiot, I am sure he already knows what really is valuable.

Could it not reveal his identity if he sold them to someone or at some exchange?

all of that could be true.

but for 80% (my opinion) nothing of this is true and he is a normal (unknown) person, who still has access to his coins.

How about you leave some kool aid for the rest of the kids?

mr nakamoto



-could have been already wealthy enough before inventing bitcoin

-could be more more than one person, which broke up/having a fight

-could have lost access to priv keys

-could have destroyed priv keys

-could be a secret service project that not even the secret service knows about and already cancelled/finished/aborted

-could be dead

-could have had an accident/sick/stroke/amnesia

-could be in jail

-could have decided to live as a hermit in the taiga

-knows what panic it could cause if he starts to move the oldest coins

-and so on....


since he created bitcoin to replace the fiat banking system, why would he dump his precious coins when fiat is weakest and his coins are strongest ? he might not be thinking in terms of fiat accumulation, but in terms of revolution. revolutionaires tend to be less corrupt then average.

I kind of hope that he burned the Bitcoins, discarded the wallets. It's possible he cares more about Bitcoin than personal wealth.

If he's some academic somewhere he may already be comfortable enough. (He must have had *some* funds to spend the time he did working on Bitcoin in the early days).

There are limits on how much you can withdraw from any of the big exchanges. Generally there is a maximum amount allowed each year. What would Satoshi dump half a billion worth of bitcoins for if he could only withdraw a million a year from each big exchange?

If satoshi dumped Bitcoin to hell his legacy would fall in ruins. He would just be one of the biggest scammers all time.

Not everyone is a materialist, some people want to be remembered and live their life in peace.

Not all humans need an isle with a mansion, you know. But you're right about the rest, he/she/they could sell a lot.

Satoshi is no god or some higher tier. He is also a human and maybe when he gets older he wants to buy a nice isle with a house.

So, why should he or any other early adopters would not "dump" his coins?

All his work would be useless if he didnt dump his coins, because then he wont have anything to live...and he wont be rich.


Meanwhile i think this perma dumping is done by someone like satoshi who was an early adopter and has "unlimited" amount of coins...


In the end, bitcoin gets stronger out of it because the coins are shared between more users, but the value will go down.