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Title: Assuming Satoshi owns a million Bitcoin but lost his private keys... Post by: Ucy on May 17, 2018, 07:42:46 PM And the only way to recover the Bitcoin is through a hardfork, would you accept the hardfork for the Father of Crypto?
Title: Re: Assuming Satoshi owns a million Bitcoin but lost his private keys... Post by: mdayonliner on May 17, 2018, 07:50:27 PM And the only way to recover the Bitcoin is through a hardfork, would you accept the hardfork for the Father of Crypto? I guess Satoshi (if he is alive) will never do that. That will disapprove the slogan of decentralisation. Bitcoin is has not created to serve a single person, it created to serve the whole world. PS: Losing a million from the total of 21 millions actually will increase the demand of bitcoin Title: Re: Assuming Satoshi owns a million Bitcoin but lost his private keys... Post by: yoseph on May 17, 2018, 11:40:14 PM And the only way to recover the Bitcoin is through a hardfork, would you accept the hardfork for the Father of Crypto? I guess Satoshi (if he is alive) will never do that. That will disapprove the slogan of decentralisation. Bitcoin is has not created to serve a single person, it created to serve the whole world. PS: Losing a million from the total of 21 millions actually will increase the demand of bitcoin Title: Re: Assuming Satoshi owns a million Bitcoin but lost his private keys... Post by: sham100899 on May 18, 2018, 03:06:32 AM And the only way to recover the Bitcoin is through a hardfork, would you accept the hardfork for the Father of Crypto? That's a lot of treasure. And assuming that satoshi accidentally sent his private key to you on email. What a destiny.Title: Re: Assuming Satoshi owns a million Bitcoin but lost his private keys... Post by: Cobalt9317 on May 18, 2018, 09:14:34 AM Sigh... why delete a wallet instead of moving it aside and keeping the old copy just in case? You should never delete a wallet. I'm anticipating nakamoto would never lost his wallet.dat and private keys is not a big deal back in 2010 as they were only testing and finding bugs.Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone. Assuming nakamoto lost his privatekeys it only makes everyone else's coins worth higher. He would only think of it as a donation to anyone.Title: Re: Assuming Satoshi owns a million Bitcoin but lost his private keys... Post by: aplistir on May 18, 2018, 01:45:32 PM I'm anticipating nakamoto would never lost his wallet.dat and private keys is not a big deal back in 2010 as they were only testing and finding bugs. Assuming nakamoto lost his privatekeys it only makes everyone else's coins worth higher. He would only think of it as a donation to anyone. I do not think he "lost" his keys. Instead I think he intentionally did not save them. He did not try to become rich, instead he was an idealist and wanted to create a new kind of currency. He probably thought that if he would take 1M coins for himself both the credibility of Bitcoin and Satoshi would have suffered, and maybe we would not have bitcoin now. I believe, Satoshi mined bitcoins with other computers too, and became rich. At-least I hope he did :) Title: Re: Assuming Satoshi owns a million Bitcoin but lost his private keys... Post by: bigmelons25 on May 18, 2018, 02:52:59 PM I think satoshi will eventually sell off his bitcoins , he is just waiting for a higher prie and even more adoption so that the price wouldn't crash much if he sold. Its the reason I m oved on to other crypto currencies that are more fair. I can't trust a coin where the foudner owns over 6 percent of total supply. that is a massive amount.
Title: Re: Assuming Satoshi owns a million Bitcoin but lost his private keys... Post by: Welsh on May 18, 2018, 07:44:51 PM Assuming Satoshi is alive, still have the private key and wish to sell the Bitcoin, that would be difficult since exchange can trace deposit source and it's not difficult since most Bitcoin in early years were mined with Satoshi. Satoshi's only chance is using decentralized exchange with proper configuration, secure connection and exchange to private cryptocurrency to ensure his/her/their safety and anonymity. But the problem is decentralized exchange trading volume is very low ::) Also, there are many cryptocurrency where founder owns high percentage (1% or more) of total supply, especially Ripple :P That's assuming that he would want to exchange his Bitcoin for fiat. I doubt he would personally. Title: Re: Assuming Satoshi owns a million Bitcoin but lost his private keys... Post by: crypto_nd on May 18, 2018, 11:31:55 PM No matter who lost their Bitcoin (or any decentralized cyptocurrency), there shouldn't be any hard-fork or blockchain rollback just to recover the lost Bitcoin. how about he creates his own exchange, after about a year of giving good features and make people adopt it. Then you moves in to sell his bitcoin anonymously, remember he is the owner of the exchange. I think satoshi will eventually sell off his bitcoins , he is just waiting for a higher prie and even more adoption so that the price wouldn't crash much if he sold. Its the reason I m oved on to other crypto currencies that are more fair. I can't trust a coin where the foudner owns over 6 percent of total supply. that is a massive amount. Assuming Satoshi is alive, still have the private key and wish to sell the Bitcoin, that would be difficult since exchange can trace deposit source and it's not difficult since most Bitcoin in early years were mined with Satoshi. Satoshi's only chance is using decentralized exchange with proper configuration, secure connection and exchange to private cryptocurrency to ensure his/her/their safety and anonymity. But the problem is decentralized exchange trading volume is very low ::) Also, there are many cryptocurrency where founder owns high percentage (1% or more) of total supply, especially Ripple :P Title: Re: Assuming Satoshi owns a million Bitcoin but lost his private keys... Post by: Daboy_Lyle on May 19, 2018, 02:29:12 AM And the only way to recover the Bitcoin is through a hardfork, would you accept the hardfork for the Father of Crypto? I will be lucky if nakamoto will accidentally send me an email with his private keys.This will be a big donation for everyone if he will send everything he has here on the forum member will recieve it. Title: Re: Assuming Satoshi owns a million Bitcoin but lost his private keys... Post by: Pablito89 on May 19, 2018, 08:11:52 AM And the only way to recover the Bitcoin is through a hardfork, would you accept the hardfork for the Father of Crypto? I guess Satoshi (if he is alive) will never do that. That will disapprove the slogan of decentralisation. Bitcoin is has not created to serve a single person, it created to serve the whole world. PS: Losing a million from the total of 21 millions actually will increase the demand of bitcoin 100% agree with that. If he's still alive, he will never do something like that. He made this just for decentralize the entire system. Title: Re: Assuming Satoshi owns a million Bitcoin but lost his private keys... Post by: vapourminer on May 19, 2018, 12:13:17 PM And the only way to recover the Bitcoin is through a hardfork, would you accept the hardfork for the Father of Crypto? as in "reclaim" his coins to redistribute somehow? or "burn" them? the moment i see that coming i will sell all my btc on that chain. they are his, to lose, burn or spend as he pleases. just like mine are. Title: Re: Assuming Satoshi owns a million Bitcoin but lost his private keys... Post by: groko271 on May 26, 2018, 03:01:20 AM I often wonder if satoshi will one day get the shits with the huge percent of "hodling Lambo hunters" accumulating bitcoin, will cause him to dump his load and crash it back to a few hundred dollars just to teach us a lesson.... and resume its original purpose for P2P transactions.
There isn't enough lambo's in the world if btc goes to $1M ea. ;D |