|
Title: How do people know the number of bitcoins Satoshi has ? Post by: Hersilie on August 15, 2017, 09:07:02 AM I just passed on a thread (https://bitcointalk.org/index.php?topic=2075334.0) where people were discussing whether Satoshi had sold his coins or not. But my question is how do you know that he actually have coins ? It is rumored that he would have one million and a half coins, but yet, the biggest address has way less than this, so can you know that he has a given number of coins ?
Title: Re: How do people know the number of bitcoins Satoshi has ? Post by: krishnapramod on August 15, 2017, 09:29:02 AM I just passed on a thread (https://bitcointalk.org/index.php?topic=2075334.0) where people were discussing whether Satoshi had sold his coins or not. But my question is how do you know that he actually have coins ? It is rumored that he would have one million and a half coins, but yet, the biggest address has way less than this, so can you know that he has a given number of coins ? It is assumed that Satoshi owns 1 million BTC, and this assumption is made through this analysis, https://bitslog.wordpress.com/2013/04/17/the-well-deserved-fortune-of-satoshi-nakamoto/ https://bitcointalk.org/index.php?topic=175996.0 This is just a made up number, no concrete proof to back it up. It might be true, might not be and if Satoshi wasn't an individual, but a group then this amount gets further split. Did Satoshi already sold his bitcoins or still holding it is another debate which can't be backed by any factual data. Title: Re: How do people know the number of bitcoins Satoshi has ? Post by: Iranus on August 15, 2017, 10:17:48 AM We don't know. It's just an estimate based on this blog post (https://bitslog.wordpress.com/2013/04/17/the-well-deserved-fortune-of-satoshi-nakamoto/).
The writer observed a mining pattern which looked like most of the blocks in it were mined by the same entity - an entity which began mining at block 1 and restarted at regular intervals (probably to back up wallets). We do not know whether he has sold any coins at all but the majority of coins mined in that period have not moved and no blocks that we expect to be satoshi's coins have moved. Title: Re: How do people know the number of bitcoins Satoshi has ? Post by: Hersilie on August 16, 2017, 01:41:22 PM So okay, this is just a estimation, so in case Bitcoin price rise enough, he could not be a labeled as the wealthiest man on Earth. Beside him, who is the biggest bitcoins possessor ? Roger Ver with 300 000BTC ?
Title: Re: How do people know the number of bitcoins Satoshi has ? Post by: BitcoinHodler on August 16, 2017, 01:46:49 PM So okay, this is just a estimation, so in case Bitcoin price rise enough, he could not be a labeled as the wealthiest man on Earth. Beside him, who is the biggest bitcoins possessor ? Roger Ver with 300 000BTC ? probably Hal Finney. and other anonymous people who have been hodling and keeping to themselves. and remember that these are all speculations, not facts. unless any of these sign a message from a bitcoin key holding whatever amount we can never know how much they really hold. it can be 10 satoshi or 300 000 bitcoin. Title: Re: How do people know the number of bitcoins Satoshi has ? Post by: Taki on August 16, 2017, 01:56:24 PM I just passed on a thread (https://bitcointalk.org/index.php?topic=2075334.0) where people were discussing whether Satoshi had sold his coins or not. But my question is how do you know that he actually have coins ? It is rumored that he would have one million and a half coins, but yet, the biggest address has way less than this, so can you know that he has a given number of coins ? It is assumed that Satoshi owns 1 million BTC, and this assumption is made through this analysis, https://bitslog.wordpress.com/2013/04/17/the-well-deserved-fortune-of-satoshi-nakamoto/ https://bitcointalk.org/index.php?topic=175996.0 This is just a made up number, no concrete proof to back it up. It might be true, might not be and if Satoshi wasn't an individual, but a group then this amount gets further split. Did Satoshi already sold his bitcoins or still holding it is another debate which can't be backed by any factual data. I have heard that it was followed somehow that there is a person who holds such huge number of coins. And there wasn't another suggestion besides to suppose it is Satoshi. Title: Re: How do people know the number of bitcoins Satoshi has ? Post by: Gaaara on August 16, 2017, 02:04:16 PM I think its just a conclusion there is no proof that Satoshi has that amount of bitcoin, they've been monitoring the market because of assuming that Satoshi has a million bitcoin and it could affect not just the movement of the market but bitcoin instead. Think about what will happen if a person appears to have a full control on a coin that is currently lives in market, I mean they say Satoshi knows how to make bitcoin by himself, it will be a disaster if he started making one then selling to the market, its like having a person with a bank in his hand.
Title: Re: How do people know the number of bitcoins Satoshi has ? Post by: johnwest on August 16, 2017, 02:36:08 PM Everything is a speculation, no one knows the exact value. He may have deleted/lost all of those private keys or may be stored safely to sell them at a huge price. Just think about the rate Bitcoin will be falling if he sells his millions of coins.
Title: Re: How do people know the number of bitcoins Satoshi has ? Post by: Tyrantt on August 16, 2017, 03:12:20 PM The short answer: probably a lot and more than anyone else ever will, since he was able o mine it by himself until published and other miners jumped in. Also, he's the creator(s) of course he'll have big amounts of bitcoin.
Title: Re: How do people know the number of bitcoins Satoshi has ? Post by: FlightyPouch on August 16, 2017, 03:16:24 PM I just passed on a thread (https://bitcointalk.org/index.php?topic=2075334.0) where people were discussing whether Satoshi had sold his coins or not. But my question is how do you know that he actually have coins ? It is rumored that he would have one million and a half coins, but yet, the biggest address has way less than this, so can you know that he has a given number of coins ? I've read an article about the inventor of bitcoin and what he did with it. In the article, they said that Satoshi Nakamoto mined a lot of bitcoins and leave. We don't know where did they use those bitcoinbut one thing is for sure, he knows that it will be having a good price in the past. Title: Re: How do people know the number of bitcoins Satoshi has ? Post by: Nicol3 on August 16, 2017, 03:17:45 PM People don't really know how much bitcoin Satoshi Nakamoto has, these are just speculations. I bet they don't even know where Satoshi is too. But if ever he is holding bitcoins then most probably he already has a lot now.
Title: Re: How do people know the number of bitcoins Satoshi has ? Post by: Prem.Soorajpaul on August 16, 2017, 03:19:17 PM I have seen a few sources, which claim that Satoshi owns around BTC980,000. I don't know whether this figure is accurate or not. A few of the links are here:
https://www.cryptocoinsnews.com/owns-bitcoins-infographic-wealth-distribution/ https://bitslog.wordpress.com/2013/04/17/the-well-deserved-fortune-of-satoshi-nakamoto/ |