Topic: Why would someone send 4 BTC to Satoshi (Genesis block) - page 2. (Read 523 times)
No one knows the real problem for which the amount has been transacted. For sure, the transaction isn't out of mistake. It is possible to see Good number of old donars in our forum. They've made donation in big numbers. Same as that this guy might be one among the early adopter of bitcoin. Maybe no one to claim his funds later, maybe that too can be a reason.
I agree with @pooya87 on this.
I see no good reason to send 4 BTC to Satoshi and some 100$ to a change address. I think that whoever did that wanted to send the 100$ to Satoshi and 4 BTC to self.
Of course, making a donation to everybody is another not-too-bad scenario, i.e. somebody with lots of money wanted to make every bitcoiner a bit richer with this, or at least Satoshi if he ever comes back.
Still, the scenario with the error makes more sense to me...
I see no good reason to send 4 BTC to Satoshi and some 100$ to a change address. I think that whoever did that wanted to send the 100$ to Satoshi and 4 BTC to self.
Of course, making a donation to everybody is another not-too-bad scenario, i.e. somebody with lots of money wanted to make every bitcoiner a bit richer with this, or at least Satoshi if he ever comes back.
Still, the scenario with the error makes more sense to me...
If this is the case we might end up reading a new about this mistake. While it makes sense to consider the transaction a mistake done by the sender, we also cannot remove the fact that sometimes people who earn huge amounts of money give the person who gave them an opportunity some part of the earned money thus the 4 BTC sent to Satoshi address is indeed intentional to pay respect and thanks to what Satoshi had done to his financial status.
There is no reason at all to give 4BTC to someone who is supposed to own from 700k to 1m BTC
This is not burn because we don't know if it's spendable or not. Satoshi still has access to his entire wallet, but he isn't touching it. I don't believe the Bitcoin creator would lose his private keys, which he is very familiar with. The sender would illustrate why he sent four Bitcoin to the Satoshi address. I believe it is an error. Because there is no reason for anyone to send this amount consciously.
I would argue that Satoshi may not have the keys to this address. When BTC is unspendable or out of circulation, then its value grows. Therefore, "forgetting" or "losing" their keys, Satoshi actually adds value to the existing bitcoin in circulation
Well since we haven't heard from the guy I guess it's safe to say that he lost his keys, or maybe even did the same things you stated lmao. kiddings aside I can point to clout as to why they did this. They wanna be topical and be talked about probably in this forum, and they succeeded coz now we're talking about them.
As I said before, probably Satoshi "lost" his keys. Maybe he just sent the mined BTC to the addresses and then got rid of the keys for all of them.
If Satoshi is even alive still. ... 
That is a bit of a horrible thought, is it not? Satoshi dies without anyone ever knowing who he was in the end.
That is a bit of a horrible thought, is it not? Satoshi dies without anyone ever knowing who he was in the end.
I don't believe Satoshi is dead. I strongly believe Satoshi was a student of Hal Finney's. Hence, the first transaction ever made was from him to Hal Finney.
I agree with @pooya87 on this.
I see no good reason to send 4 BTC to Satoshi and some 100$ to a change address. I think that whoever did that wanted to send the 100$ to Satoshi and 4 BTC to self.
Of course, making a donation to everybody is another not-too-bad scenario, i.e. somebody with lots of money wanted to make every bitcoiner a bit richer with this, or at least Satoshi if he ever comes back.
Still, the scenario with the error makes more sense to me...
I see no good reason to send 4 BTC to Satoshi and some 100$ to a change address. I think that whoever did that wanted to send the 100$ to Satoshi and 4 BTC to self.
Of course, making a donation to everybody is another not-too-bad scenario, i.e. somebody with lots of money wanted to make every bitcoiner a bit richer with this, or at least Satoshi if he ever comes back.
Still, the scenario with the error makes more sense to me...
If this is the case we might end up reading a new about this mistake. While it makes sense to consider the transaction a mistake done by the sender, we also cannot remove the fact that sometimes people who earn huge amounts of money give the person who gave them an opportunity some part of the earned money thus the 4 BTC sent to Satoshi address is indeed intentional to pay respect and thanks to what Satoshi had done to his financial status.
My guess is a crazy youtuber to get extra views. Maybe he can even recuperate the funds with the incremental views he gets 
Would be stupid but have seen worse
Would be stupid but have seen worse
If you want to be a part of history, and have Bitcoin to burn I can see certain individuals being motivated to do this. However, there's no real reason they did it other than saying they did do it. Since, no one knows the status of Satoshi, none of his addresses can be considered burn addresses either since they can't be verifiable as lost.
They probably just wanted users to talk about it, which they've achieved. If they have a lot of Bitcoin this might have been pennies to them.
They probably just wanted users to talk about it, which they've achieved. If they have a lot of Bitcoin this might have been pennies to them.
Seems really stupid, I hope the person who send these bitcoin is a whale because that is a lot of money to send to an address that will never use those bitcoin. Craig Wright has lost access to those keys (i’m kidding, I’m kidding 
).
Every lost or inaccessible bitcoin is a donation to us though so thanks anon
That’s 4 more bitcoin effectively out of circulation & off the market
).Every lost or inaccessible bitcoin is a donation to us though so thanks anon
That’s 4 more bitcoin effectively out of circulation & off the market
This is not burn because we don't know if it's spendable or not. Satoshi still has access to his entire wallet, but he isn't touching it. I don't believe the Bitcoin creator would lose his private keys, which he is very familiar with. The sender would illustrate why he sent four Bitcoin to the Satoshi address. I believe it is an error. Because there is no reason for anyone to send this amount consciously.
That Satoshi's genesis block address currently has 72 BTC worth $1.3million. So to me, the person who sent that amount can only be a very rich and generous crypto enthusiast who had benefited from Satoshi's project and thought that could be the only way to reward him for the awesome project he developed that we all on this forum still benefiting till today.
Moreover, that 4 BTC is equally huge and would have gone a long way had he/she used that amount to touch the lives of the poor and less privileged in the society. However, everybody has a choice to decide how he/she spend their money.
Moreover, that 4 BTC is equally huge and would have gone a long way had he/she used that amount to touch the lives of the poor and less privileged in the society. However, everybody has a choice to decide how he/she spend their money.
Just wondering why someone would send 4BTC to the Genesis block which is over $75K.
Here is the transaction
https://www.blockchain.com/explorer/transactions/btc/6805b175260c47549995c3ff19c3c51596651c26269e9f1b31c243986433a0b7
I understand many want to send a small amount so they can get a piece of history on the block chain but sending over $75K which is pretty much a burn address since most likely it will never get spent is kind of crazy.
Why do you think they did this?
I think you already answered your question, to burn bitcoins basically. Don't forget that every bitcoin burned adds value to the whole supply, so this cool bloke out there probably thought of burning some of his bitcoins whilst at the same time cementing himself in the history, I mean we're talking about him right now, so I guess it works?Here is the transaction
https://www.blockchain.com/explorer/transactions/btc/6805b175260c47549995c3ff19c3c51596651c26269e9f1b31c243986433a0b7
I understand many want to send a small amount so they can get a piece of history on the block chain but sending over $75K which is pretty much a burn address since most likely it will never get spent is kind of crazy.
Why do you think they did this?
Obviously that's curious, but there are 2 things we know for sure:
1. Satoshi is 4BTC richer now
2. The coins aren't lost unless Satoshi has no access to the private keys.
ps: If you want to be absolutely sure that you burn some coins, you can generate a wallet, send money to the address and make sure to forget the private key, or burn it, or destroy it, or demolish the building where you have saved it.
Well since we haven't heard from the guy I guess it's safe to say that he lost his keys, or maybe even did the same things you stated lmao. kiddings aside I can point to clout as to why they did this. They wanna be topical and be talked about probably in this forum, and they succeeded coz now we're talking about them. 1. Satoshi is 4BTC richer now
2. The coins aren't lost unless Satoshi has no access to the private keys.
ps: If you want to be absolutely sure that you burn some coins, you can generate a wallet, send money to the address and make sure to forget the private key, or burn it, or destroy it, or demolish the building where you have saved it.
Obviously that's curious, but there are 2 things we know for sure:
1. Satoshi is 4BTC richer now
2. The coins aren't lost unless Satoshi has no access to the private keys.
ps: If you want to be absolutely sure that you burn some coins, you can generate a wallet, send money to the address and make sure to forget the private key, or burn it, or destroy it, or demolish the building where you have saved it.
1. Satoshi is 4BTC richer now
2. The coins aren't lost unless Satoshi has no access to the private keys.
ps: If you want to be absolutely sure that you burn some coins, you can generate a wallet, send money to the address and make sure to forget the private key, or burn it, or destroy it, or demolish the building where you have saved it.
Just wondering why someone would send 4BTC to the Genesis block which is over $75K.
Here is the transaction
https://www.blockchain.com/explorer/transactions/btc/6805b175260c47549995c3ff19c3c51596651c26269e9f1b31c243986433a0b7
I understand many want to send a small amount so they can get a piece of history on the block chain but sending over $75K which is pretty much a burn address since most likely it will never get spent is kind of crazy.
Why do you think they did this?
Well. This transaction took place quite recently - a few days ago. I assumed that perhaps this happened many years ago, but I was wrong. Checking blockchain confirmed that the amount of 75k$ was sent recently.Here is the transaction
https://www.blockchain.com/explorer/transactions/btc/6805b175260c47549995c3ff19c3c51596651c26269e9f1b31c243986433a0b7
I understand many want to send a small amount so they can get a piece of history on the block chain but sending over $75K which is pretty much a burn address since most likely it will never get spent is kind of crazy.
Why do you think they did this?
That should not be a mistake but to burn it. Every bitcoin burned adds its value to the remaining coins in circulation.
I had a similar thought and the person who sent 4BTC can afford to donate that amount. In fact, he definitely managed to burn it, and these 4BTC can certainly be deleted from the general circulation of bitcoin.To me this doesn't seem like a mistake, but rather a deliberate action. It is impossible to say exactly who and why did it.
Proponents of amazing theories may say that it is OP who sends btc to himself from other addresses.
But this is impossible. 
Just wondering why someone would send 4BTC to the Genesis block which is over $75K.
Here is the transaction
https://www.blockchain.com/explorer/transactions/btc/6805b175260c47549995c3ff19c3c51596651c26269e9f1b31c243986433a0b7
I understand many want to send a small amount so they can get a piece of history on the block chain but sending over $75K which is pretty much a burn address since most likely it will never get spent is kind of crazy.
Why do you think they did this?
Here is the transaction
https://www.blockchain.com/explorer/transactions/btc/6805b175260c47549995c3ff19c3c51596651c26269e9f1b31c243986433a0b7
I understand many want to send a small amount so they can get a piece of history on the block chain but sending over $75K which is pretty much a burn address since most likely it will never get spent is kind of crazy.
Why do you think they did this?
Bored rich people playing games to get attention and yet remain anonymous? I do not know. If I had billions of dollars I would send everyone on Bitcointalk a nice number of Bitcoin.
It is possible that they messed up and were trying to actually send the 0.00525500BTC amount to that address which is about 90 bucks but they set that amount to the change and the change (4BTC) to Genesis address which already contains 22.57BTC!
P.S. coins sent there are not burnt though, Satoshi may some day decide to spend them
P.S. coins sent there are not burnt though, Satoshi may some day decide to spend them
If Satoshi is even alive still. ...
That is a bit of a horrible thought, is it not? Satoshi dies without anyone ever knowing who he was in the end.
It is possible that they messed up and were trying to actually send the 0.00525500BTC amount to that address which is about 90 bucks but they set that amount to the change and the change (4BTC) to Genesis address which already contains 22.57BTC!
P.S. coins sent there are not burnt though, Satoshi may some day decide to spend them
P.S. coins sent there are not burnt though, Satoshi may some day decide to spend them
That’s horrible mistake then. Lolz. I think there might be speculations now that it’s Satoshi only who is operating from other address and it may happen they are working on something else. Can’t wait to see something like that being discussed now. It could be possible that someone is too rich and just had some work with Satoshi and they paid then the fees. Anyway that is too too wide assumption. But who knows, in the current situation it looks anything is possible.
If I would like to look at this situation from a slightly funny angle, then I would say that this "donation" is perhaps part of some kind of strange idea that stems from the fact that there are people who think that Satoshi will appear one day and that he will share his Bitcoins with everyone who sent something to his address - let's call it "future Satoshi Bitcoin doubler" 
It's entirely possible someone spends that output, once the underlying cryptography is weak enough.
In my opinion there is a good chance that bitcoin would die if something like that ever happened before fully switching to another algorithm and making the previous one obsolete. P.S. coins sent there are not burnt though, Satoshi may some day decide to spend them
Would it be ok if Satoshi spent them
(He's not knowing why the sender did it.)or .... this one is better .....
Satoshi sent these 4 BTC to himself
Sending to that Genesis address but it is a donation for everyone. 'They' donated about 25 BTC to everyone.
Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone.
That's how proud I feel about myself each time I burn fees to consolidate, or to send people Bitcoin I know they may never use. A small amount I sent to my kid is lost forever, that's my personal record for "burning" and address (I say small but it was the value years ago, I remind him every now and then how much he lost in today's value haha).
I agree with @pooya87 on this.
I see no good reason to send 4 BTC to Satoshi and some 100$ to a change address. I think that whoever did that wanted to send the 100$ to Satoshi and 4 BTC to self.
Of course, making a donation to everybody is another not-too-bad scenario, i.e. somebody with lots of money wanted to make every bitcoiner a bit richer with this, or at least Satoshi if he ever comes back.
Still, the scenario with the error makes more sense to me...
I see no good reason to send 4 BTC to Satoshi and some 100$ to a change address. I think that whoever did that wanted to send the 100$ to Satoshi and 4 BTC to self.
Of course, making a donation to everybody is another not-too-bad scenario, i.e. somebody with lots of money wanted to make every bitcoiner a bit richer with this, or at least Satoshi if he ever comes back.
Still, the scenario with the error makes more sense to me...
Why do you think they did this?
I don't know, but I don't think it was an accident. You really need to be irresponsible as fuck to not be cautious when spending 4+ BTC. Couldn't there be a new kind of Proof-of-Burn perhaps?P.S. coins sent there are not burnt though
They are definitely not burned. Besides Satoshi spending them (which, between us, I don't find it a wise thing to do), the public key of that address is known. It's entirely possible someone spends that output, once the underlying cryptography is weak enough. Jump to: