Bitcoin Forum

Alright... sorry for the clickbait but it looks like some very very early early adopter is cashing out

https://blockchain.info/tx/4b60dc9cd051f4489420018bf52ead4f1f1377b0e0b4f2bc552f31b2649230ab

Most were mined beginning of 2010 which at the time bitcoin had no value.

If I understand it correctly, SegWit uses newer P2SH (pay to script hash) addresses, which start with a three just like the ones that this person is sending to.

Rather than jumping to the conclusion that this early adopter is "cashing out", we could consider that they're moving their coins to SegWit-compatible wallets - something which people with the opportunity should certainly be doing.

There is no indication that someone is "cashing out" unless you know the destination address is an exchange.

You can't assume it's a cash out by only viewing the transaction. Even if it went to a known exchange address, it doesn't guarantee that.
It could simply be a transfer between addresses he/she owns.

Too late for the sorry isn't it. Though I also think this is not a cash out but someone making his bitcoins secure. Still that is a lot of Bitcoins there. I guess there are really a lot of people we don't know of that has a massive number of Bitcoins.

I thought Satoshi really sold out his bitcoins. I've read that Satoshi mined a lot of bitcoins before leaving his creation and I thought this is the bitcoins he mined that time, ohh well, I guess Satoshi really don't care about bitcoins anymore, still  where is the coins he mined that time?  ???

I haven't been around for anywhere near long enough to know personally, of course, but I thought I'd read that no one was even sure if Satoshi was a real person or not... does anyone actually know for certain? I've read a few theories, that's it. It seems a little unreal to think that now, with Bitcoin being a billion-dollar business, one single inventor is just sitting quietly with his fortune and not saying a word about it. Dunno, maybe I'm wrong, maybe it really is someone who just published the idea and some code ideas and then abandoned the project without looking back... until he reads the news, anyway.

Satoshi ... now more than ever, he's dead.

I have not moved anything, they will have stolen them.

.....

do you know it is Satoshi? come on dont spread such rumors.

It's possible that those addresses belong to Satoshi, but they are all from 2010, while Satoshi has started mining in Jan 2009. This means that it can also be some other early miner. Also, this transaction included only 3000 BTC, while rumors say that Satoshi owns around 1 million BTC. Also it doesn't look like dumping, the outputs might belong to the same person and it looks like that person is just testing SegWit transactions. But anyway, that's a good find, keep watching that address to see if it will get sent to some exchange.

Don't spread rumors. You must have proof that it''s satoshi. He has like worth 1,000,000 Bitcoin in his wallets. And also no one knows who is satoshi. All of his old a dress are stuck since 2010

Maybe the person wants to dump their Bitcoin Cash and are simply moving their coins to protect from a replay attack prior to cashing out the BCH.

The fee isn't even too bad, actually. hehehe

Anyways, this should be expected. We are in a huge bubble which is bound to break soon.

By the way, please do not clickbait. Thanks

Good theory.


Not exactly a safe amount, this early in the Segwit on mainnet game...

Started to do some digging on this transaction. All inputs were from mining during a short period of time.

Oldest block was mined 2010-01-25 14:03:24 (36297)
Newest block was mined 2010-01-31 02:42:28 (37356)
That's a 1059 block difference to mine their 60 blocks. So at the time they had approximately 18% of the network hashrate.

Check this out http://1.bp.blogspot.com/-0RMaiJObi8s/U-tDSbfK11I/AAAAAAAAAbU/Td_SxUQ7Kws/s1600/satoshisProportion2014-08-13.png

Which is a link from this article http://organofcorti.blogspot.com.au/2014/08/167-satoshis-hashrate.html

Anyone know if there were many others mining at that level early on? This can't have been more than one of a handful of people and satoshi isn't ruled out yet.

Edit: total math fail, that's only 5.6% of mining power, probably not satoshi, but likely another big early player.

This title is ridiculous. OP needs to change it to something more realistic. Satoshi has 1,000,000 Bitcoins like you say, and this guy is only selling 1,000 Bitcoins, which is only 1,000th of what Satoshi has. I don't mind clickbait, but this isn't even clickbait it is just straight up lying... right? I mean come on how many people are going to click this and waste their time. :P

That's a pretty large number of bitcoins and regardless who owns it, he must be having a good time right now. After holding them coins for a little over seven years, the value has risen so much and if I were in his position, I would really be thinking about cashing out some too. Maybe that is just part of what he owns or just transferring to another address but whatever the case, he is one lucky man for having that many bitcoin in holding.

This dude (whoever is selling, who is NOT Satoshi by the way) is smart, nonetheless. He sees we are in a bubble and cashing out before it bursts. And also if you had that much money it really doesn't make much a difference to make more. :P

Well whoever this person is, he must be so happy right now.
Things that had no value at all are worth millions of dollars and granted him the title of "millionaire".

Well that's still actually a possibility but we'll never know since these addresses are brand new. Actually the scenario that the coins got sold is acceptable.
Maybe a new investor bought ? and just created one address and the other is the exchange address of the owner.

Thats a good theory, but let me counter that for fun. What if that is Roger Ver who is getting ready to sell some of his BTC in order to have the funds to pump his new beloved BCH?

From what Ive heard BCH needs to be pumped to stop the miners from abusing the EDA.

There is a lot of possibilities here but what i think here is some company is starting to set there bankroll. But if i will answer based on the title, it is not sure if the person who is cashing out it satoshi because there are lots of people who adopt bitcoin at early stages.

I read the topic and here are really interesting ideas.

As far as I know Satoshi can't mine the genesis coins, it is unkown if this was an errore of his code or not. Only after the last coins will be mined in the bitcoin network the satoshi will be able to move the funds from the genessis address.

Even more about bitcoin segwit, it is too early to say it is safe to trade this kind of ammounts at this moment

Well how do we know its for sure not him?

Obviously if he sold his BTC from Block #1 we would know it was him. But if he was mining for around a year or so and selling his mined coins backwards then it would be harder to link it to him.

The only transaction was No.1 It means that this BTC is never been used and just keeping it or It could be the hardware that I throwed in the garbage when I though that this coins is just useless and nothing of use. xD

True. This early birds can have more than a 10k btc in their holdings but still we don't know if it is a cash out. Still that's a large amount he got there.


I would cash out too but only to sustain some of my personal expenses like building a home and have a business in the real world, I won't cash out if I don't have a solid reason and instead of cashing out some, I would rather spend it on alts and do some trades to make a money roll. Every bits count. ::)

Well I think 3,000 x $4500 is reason enough to cash out.
it's $12,000,000 who wouldn't cash out and be able to do whatever you want.

I have been on this ride since 2011 and no I did not buy a lot of bitcoins I just got a few to play around with and cashed out when I mined like 40. For today standards 3000 btc this is called a big fish. I remember people sitting on 300k bitcoins when the price hit 100 and yes he did cash out 1 day. If you look very closely you see that bitcoins are getting more divided between people and its worth is increasing. Most likely in 10 years having 10 BTC might be called a whale. There might be some investors hoarding them but lucky there is not someone that owns all bitcoins.

this has nothing to do with satsohi, the coins are all after the Satoshi time and from 2010 not the early blocks which were mined by Satoshi. and also as it was mentioned by someone else. this is most probably someone from the early days who is trying to get the Bitcion Cash airdrop now that the price is still high enough to be worth anything. or probably getting ready to claim it if there was a pump or something.

We can't say for sure that this was a sell transaction. More like a consolidation, maybe? Or maybe their trying to get the bitcoin cash too by doing this. We can't really say this is satoshi's though, we need more evidence than just because this is from an early adopter. Since the coins that were mined were from 2010, it is not definitely from satoshi.

I don't see why. If you have a ton of BTC and you are just holding it for long term, why even bother moving them? they are safe in the classic format that begins with an 1.

Most likely it's an early adopter getting ready to dump his BCH or at least to protect from replay attacks when trying to access his BCH. This is no satoshi, his coins are well traced.

There is no proof that whoever is transferring this much btc is actually cashing out, the address may be a new cold storage or an exchange.

We can't really say that this is Satoshi selling, but it could be a possibility that he is cashing out.

That's 12Mil dollars, so I guess whoever cashed out is probably living in a mansion now. Good luck to him.

There are many people from the early days that have 3k BTC. There are a bunch on this very forum with 10k+.

It looks like one of the output addresses is stamp's trading wallet, so it's likely that this guy is looking to cash out 1k and hodling 2k.

I hope this person gets a vacation house somewhere nice as it takes some nerves to hodl through the extra long sub-30 sub-1000 dips. But it is silly to implicate Satoshi. There's absolutely no reason to believe it is as there were plenty miners in 2010.

Also, look at the depth of the exchanges today. 1k coins won't even move the needle.

How do we know that only Bitcoins mined with the difficulty of 1 were mined by Satoshi? he could've used another PC to become the second miner.

All in all, he has to have the freedom to do whatever he wants, he did a great job by creating the system and inventing blockchain technology which

Had been used on thousands of different projects, if he can't use his coins then who is more deserving?

why lots of people think that was Satoshi ? Was he the only miner during that period ?

Heres another possibility. What if BTC is already at its peak in value and the earliest of investors are getting ready to sell everything and invest in some other cryptocurrency?

probably theymos moving his coins

(known as sirius-m) back in those days

FYI, theymos (https://bitcointalk.org/index.php?action=profile;u=35) and sirius (https://bitcointalk.org/index.php?action=profile;u=4) are different people.

What a like guy. I dont mind to be him, and if i was him i sell part of the bitcoin right now. No one knows the future and despite possible bitcoin valrozation in the future he makes a fortune today selling it. A life changer at least for me.

What you said is so dirty rumor. If Satoshi will appear, or his traces will be revealed it would cause huge influence at the market. Its only possible to happen in bound with changing whole bitcoins position in people minds, to better of worse direction

LBO has been attacking LARGE BALANCE ACCOUNTS for months ever think that they could have cracked an early one with a poor hash or password?

Brute force LBO is active, statistically it can happen and HIGH value accounts are the targets.

***

But given all the BCH bullshit, and given that the OP posted a LIE as the title click-bait, and given that BCH just wants to demonize and create FUD in BITCOIN

WE can probably assume this story is bullsit, so an old account move 3,000 BTC true? Yes or No, maybe somebody will dump the blockhash I don't want to bother,

So this is the future? everytime a high value account makes a transaction its news?

***

SKY is falling BITCOIN legacy-founders are selling, THIS IS SO F**KING BCH