Bitcoin Forum

So, I just realized that Ross Ulbricht - former owner of Silk Road - owns a huge proportion af all the bitcoins in existence. Today we hit the 12 million mark, and this single man is estimated at owning 400,000 bitcoins in his personal wallet. Which is ~ a 30th of all the bitcoins in existence right now. That's insane!

Satoshi owns around 1 sixth or seventh of all coins

they're in hands of u.s gov now

n
Not yet.  They have the encrypted wallet, but not the passcode.  Maybe they never will, because I'm not convinced that this guy is DPR at all.  He certainly is at least an employee, but then even he won't have access to the company funds.

Lol , Wonder if he gave this amount of btc to friends or family

That is way to much money just to keep in a wallet no one knows about

The FBI has a lot of them, or maybe all of them - 400K is just an estimate, he may have just had 144K left.  The FBI moved 144,336 of them to here: 

https://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH

You're right, 400K is an estimate but from what I've read, the FBI have seized the company bitcoins but not his PERSONAL funds, of which there is an estimated 400K. And wow, at the current price that's over £200M

DPR took a large risk in getting that amount of bitcoin. and even if he does have vast wealth, would you trade places with him?

haha, I came across another wallet of his. (I believe) is any how. One wallet i found, came from one of his others, made a transaction this past week and i don't think it is the FBI because they didn't sweep they wallet. Still has around 50k in it.

Problem is that it is too much influence on price of bitcoin by the holder of this amount if it is true. More and more messages about people holding vast amount of bitcoin surface, giving a lot of power to a small amount of people.

What will the FBI do with the seized bitcoins by the way? Any speculations?

Seriously? With this amount he is almost a $$ billionaire. :O

And to the topic, if this is the true, that just a handful ppl hold 60 or 70% of the total amount, it's dangerous and explain, why the price raise up so stable. Maybe this handful ppl just want to catch 1000$ and bam...the bubble is bursting.

really? do they have the private key?
would like to see their faces if an anonymous guy makes a transaction with those coins  :D

Slim chance. If half of all bitcoins get dumped on the market at $1000,- prices will fall so quick that everybody gets fucked.

Please show source of Satoshi owning a 6th of all bitcoins?  If this is true, that can be the end to bitcoin as we know it.  Someone owning that many can kill the whole thing if the word gets out.

Who mined coins in 2009? Satoshi and, at most, some other people, note how difficulty was stuck at 1 for like a year or so, this means only one or so cpu were mining.

But this still not prove, that he keep all instead of sale some from time to time. :)

As you wrote, "If half of all bitcoins get dumped" 60-70% is around the half or even a bit more. So you think they care about the crowd get fucked? And if the market is dumped and reach the bottom, is easy to turn and start again. EXACTLY what high roller do at the stock market from time to time...if the same guys are in bitcoin now (and it's sounds not so impossible!) it gonna happen too with the coins.

They indeed won't give a flying f about the crowd getting fucked, problem is they fuck themselves. The volume is too big to sell which means the price they will be getting for their bitcoins will be extremely low. The demand is too slow for these volumes. As for the $1000,- dollar barrier, part of me believes in the dumping scenario, but on the other hand, people that have huge amounts of BTc now also had it when it became $10, when it became $100, $500, etc.

The coins are still there , very few of the first coins ever moved from their blocks.
What more proof you want?

For all we know the guy might be dead and the coins will never surface.

The better for us. Less bitcoin in circulation means their value increases due to high demand and high scarcity. Right?

Right, until a handful ppl decide to finish the raise.  8)

No, less in circulation means that there is always a risk that at some point a shit ton of btc will be dropped on the market. Better to get it out of the way now, before it is widely used as a payment method!

Satoshi has most likely less then 500k bitcoins. Does he/they still have access to them? Who knows. Will he/they dump them all at once? No, he/they won't, because he/they is obviously not a complete idiot.

I can only hope for a whale like that to come along and dump them on the market, cheap Bitcoins for me and the price will bounce back as soon as the panic stops. Thanks in advance oh big holy whale!

I am pretty sure that U.S. government can have access to his Bitcoins whenever they want. It would be normal to them to torture him until they get what they want.

Wait wait.
Normal? Common , I've heard a few constipation theories but let's not get overboard.

This is my opinion. I am pretty sure that it is correct, but everyone should decide what to believe.

No, the FBI got a hold on some wallets and sent the bitcoins to an address that they own. You can see them all here: http://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH

Satoshi owned 6th of all existence bitcoin?

Anyway it is very impressive

what is that, like 80 Papa John's pizzas?  W0W!

 :D

This thread gets more interesting by the minute.  I wonder if Satoshi is scared to come out to the public, or if he/they ever will.  Maybe if bitcoins get super mainstream, he'll come out as a hero of some sort and open his own country with the money he has o_0

I'm pretty sure Ross and Satoshi never worked together, They were just in the same forums.

use it as a reserve currency in case the petrodollar fails. (at least that would be the smartest thing to do, even if it's only temporarily).

How do we know Satoshi has so many BTC?  I'm sure it must be  possible he lost many of them or something went wrong and he doens't have them.  Isn't it VERY unlikely if Satoshi is 1 or a few people that they are billionaires and no one knows who they are?

I don't think it's a great thing that there are some people with all these coins, just too much power, but nothing we can do about it, just hope they use them for good.

+1

A large accumulation of bitcoins implies only spending power, and nothing more.  They have no more authority to effect another person's transactions or costs than you do.

Why would Satoshi have to reveal him/her/themselves in order to do this?

I think the FBI has em!