Bitcoin Forum

Nothing. At least, nothing of lasting consequence. Price would drop. Some of you would panic sell, the rest of us would buy up your cheap coins. Net result better wealth distribution (which, I gather, some of you are keen on for some reason?).

Bonus: If this is in fact the real Satoshi (don't buy it for a moment) and he in fact works for a scary three letter arm of the government, he (they) are not going to do any dumping for the above reason.

My friend, please be under no illusions.

If Satoshi dumped his coins.

Bitcoin would go to zero, with hundreds of thousands of coins left to spare.

But he is not going to dump them, because they aren't his to dump. They belong to his employer, a secretive branch of Uncle Sam.

Now, all those conducting shady trades who thought they were doing business out from under the nose of The Man, these people may be getting a little bit nervous right about now, and that might prove not so good for the USD value of your BTC holdings. But you don't care about USD, you only care about how many BTC u have, right?

probably the biggest drop and then spike in BTC history. Silk Road effect X 100

Most epic long squeeze in history.

Drop to single digits, then jump to 300-400 before diving back to $100..

My guess.

yea of course

cuz who in their right mind would buy something for $0.1 when yesterday it was worth $700?

Remember BTC-E's little dip to 102? Yeah that wasn't nearly a fraction of the coins Satoshi owns. He an drop the price to 0 for all he cares. He can sell out all of the buy orders until there's nothing left, at least for a while.

He asked if Satoshi dumped his coins?

If Satoshi dumped all his coins, Bitcoin would go to single digits, and there would still be over 1 million coins sitting chasing down the spot price in the Ask walls across all exchanges. In such a situation, Bitcoin would become instantly worthless and nobody would give two shits how much it was worth just yesterday.

It isn't going to happen. But if it did happen, Bitcoin would go to zero. Its that simple.

ITT MTC reveals his tinfoil hat.

I didn't know he was a crazy paranoid alex jones-watching libertardarian basement-dwelling EMF-fearing government-alphabet-soup-accusing whacko,

I thought he was just a bad day-trader who constantly admits to losing leveraged trades on bitfinex.

 ;D

"OMG satoshi's coins are owned by the US government, if he sold them, bitcoin would go to 0 because it would lose one of the most important functions of its core protocol - a shady, anonymous creator who owns a whole bunch of coins but doesn't sell them. The creator selling them would be a serious breach in the core protocol, which depends on an anonymous shady creator with tons of coins not selling them. Thus protocol breach, confirmed, fundamental collapse, value reduced to $zero, QED."

CONFIMRED 

(EDIT: Yes, selling coins makes price go down. But selling X quantity of coins does not mathematically imply selling X+Y quantity of coins. In other words, price would go down temporarily if someone decided to sell a hundred thousand coins, but that is all. These doomsday extrapolations are just silly - go back to losing money via leveraged shorts on Bitfinex, MTC.)

Didn't you know that about me?

That's strange because I always knew you were a closed minded box headed fkn retard who is trapped in orthodox ways of thinking.....even though it hasn't been the 1950's for over 60 years.

I think you guys are all wrong. If he sold, BTC would crash and then simply recover after a few weeks. The fundamentals wouldn't have changed, and many people would welcome the chance to snap up some cheap coins.

Heck, I HOPE he'll sell.

The coins would be bought up quickly and distributed. The price might take a while to fully recover, but it eventually would. The sheep and panic sellers who either allow fear to influence their decisions or use fear to manipulate the market would have a field day.

Nonsense.  The network would still have value and people would be insane to not buy at a fraction of a penny.  I tell you what since you are "worried" about it going to zero, if Satoshi dumps them all I will buy any unbought coins at the first recorded exchange rate of 1,309.03 BTC per dollar.  If we guestimate that Satoshi has one million coins that would be a grand total of $763.93 to buy them all.

See it won't go to zero.  Of course I will never be able to buy that low, but now you can stop panicking about it going to zero.

I am not panicking. Going by the anger responses, "its a lie! It's a lie!" to the denial "Even if he did dump all his coins, bitcoin would recover right away", I would suggest that quite a few in here are feeling a bit panicky. But I am not.

However, if Satoshi did indeed dump around 13'000'000 Bitcoin, I am sorry but the price would go to zero. I am sorry but if you can't see that, then there is something wrong with your head.

Hey...maybe if he is just a little old man, who has worked on classified projects for Uncle Sam but somehow managed to sneak this 'anarchistic crypto-cash' out from under their noses, maybe now he will be forced to cash out some of them Bitcoins in order to pay for the his own security. He will need a nice big estate, fenced off, private security.....how many Bitcoins would he have to dump for all that, 50K BTC? Maybe a 100K?

Where do you get 13M from and no unless you are calling me a liar it won't go to zero.  I will buy all the unbought coins at the first recorded exchange rate (1,309.03 BTC per dollar) even if every coin on the planet was sold it would only cost me <$10,000.  I think the network is worth many magnitudes more than that so yeah I would buy em all.

So standing open order from me.  I will buy Satoshi (and anyone else's) coins for 1,309.03 BTC per dollar in the event Satoshi sells them.

Wow, you turned to conspiracy theorist really fast...I'm reminded of this quote from my good buddy...http://www.youtube.com/watch?v=FONN-0uoTHI&list=RDFONN-0uoTHI#t=0 (http://www.youtube.com/watch?v=FONN-0uoTHI&list=RDFONN-0uoTHI#t=0)

If satoshi dumped his coins and BTC went down to $0.10 I'd somehow pony up $120k, buy up all existing Bitcoins, , then trade with myself on Bitstamp to make the biggest rally in existence so BTC gets to $10k, and then sell 12 of my coins back to the world at large. If you think nobody would buy you're nuts.

Lol, moment he would move 0.01 from that address he would have to sell it for 5$ a piece. Those coins are lost forever.

Satoshi has 1'300'000 BTC.

How deep is the complete order book on the most liquid exchange, Bitstamp? 30K BTC? 50K BTC?

Y'all say ya would dive in on double and single digit coins, but the reality is that the first sign on the blockchain of Satoshi moving his coins around and this market would freak right out and dump a shit ton. There are millionaires in Bitcoinland who if not for their lucky investments, would be flipping burgers in McDonalds (billyjoeallen?). Bitcoins nominal worth is held up by the fact that less than 10% of these mined Bitcoins are in circulation. Take 10% of all the Bitcoins in existence and dump them on the market then Bitcoin is over.

Of course, they won't go to zero, but then neither will Maxcoin go to zero.

Didn't you hear? Satoshi now owns all the coins (err...the NSA does, err, no the CIA?). Crap, I'm getting confused.

So, you're saying Satoshi CANNOT die and MUST LIVE FOREVER to keep bitcoin going???   ::)

Mat is on some drugs again today  ;D

That is because you are not very bright.

Calm down, it was a typo. I meant 1.3M not 13M.

Edit: It is getting hysterical in here. If you lot keep this up I am going to have pull my buy-ins as this sort of anger/denial hysteria is generally followed by fear. I don't want to participate in any market ruled by maniacal fear.

I am not saying that Satoshi is going to destroy Bitcoin. I am merely responding to the suggestion made by OP that if he did dump his coins, then bitcoin would quickly recover, which is of course lunacy on toast. IF Satoshi went to the exchanges and dumped 1.3M BTC, which he isn't going to do, but if he did, he would smash Bitcoin down to single and even decimal digits with still over 1 million coins in the Ask wall. This market is not that liquid in comparison to the number of coins out in circulation.

What would happen to USD if China started dumping all its US government bonds?

Same thing here with Satoshi's Bitcoins.

dumping where ??? :D I just imagining the physical scene lol

Finally, you got something right. This has been confirmed by sources (mostly my wife, and maybe my kids).

But, if that was indeed him in the article, you've gotta think he would've dumped by now if he was going to. And, it can't be the same guy who supposedly wrote the article regarding the train through East LA stuff. The language is completely different. One looks like english as a first language, the other looks like english as a 5th language.

Nice backtrack.

That would depend if he sold them or what. Could blow the price through the roof or end bitcoin for good.

Uh... just about every exchange has millions of BTC of bids in the $1 range.

What? of course it would go to ZERO when all buy orders are fulfilled and there are none left on the exchange, that is essentially zero. He has enough bitcoins to push the market to fulfill all buy orders listed at any time.

Honestly if u asked about "dropped" u know almost anything about cryptology

...

We should know soon I guess if he intends to withdraw.  Which exchange offers the fastest verification for USD withdrawls?  I had a Vault of Satoshi account get verified in <12 hours.  Bitstamp is still taking about 48-72 hours I think.

I hope they waive the fees for Mr Nakamoto.

No, he doesnt. Even all the bitcoins in existence isnt enough to push it to 0.

people who
 know him ... knows he does no need withdraw anything ... anywhere, anytime he goes... he will be welcomed ... even in the star haven  

He had better sale before Bitcoins are a foot note in history

How can we trust someone who says, in a public forum that Natalie Portman is 'ugly as hell'??

you mean ... these computer cycles are lost forever ??? nop

Not only Satoshi.. When you look at the history of bitcoin, then in all probability, there are millions of coins out there that have been earned by drug dealers,computer crackers and confidence men.
This is the main reason I only hold coins when going to sleep, when there is a very strong upwards momentum, like we witnessed in November.
I can trust the source code of bitcoin, and I can even somehow trust some of the exchanges, but I can't trust a bunch of unknown people with unknown motives to keep my coins valuable.
It seems that most people are just ignoring this problem, since it hasn't happened yet. But this isn't making me feel any secure, because The Crash would only happen once, with leaving bitcoin in ruins.

Exactly. We may compare to the oil price after 9/11; it spiked but then dropped because the (airplane) game changed.

Markets are funny. I could imagine that price would drop but then things would happen like: investors grap cheap coins to repair Gox, Wallstreet grabs cheap coins to get their funds filled, and finally the "market" would recognize that there will never be so many coins thrown at the market in the future and price could go up quite a bit.

Btw. I don't think he would sell them like that, this would probably be a dark pool transaction to a Wallstreet vehicle. An open transaction is not in Satoshi's interest and not in the investor's interest either. And the tax issue of course ...

Would the Facebook stock go to zero, because one guy owns 30% and can "dump" it?

The other question is, if Satoshi still has the keys. Maybe he is so idealistic, that he threw them away. I can't really estimate, how high the chances are for that...

No, if Satoshi would dump all his coins it would be much worse than that, a bear market like 2011 means that the price would only drop to about 80$.
A similar drop to the one in 2011, from 32$ to 2$, can happen on Bitstamp if the bid sum drops below 5M$ and the ask sum gets close to 100k BTC.
Which is possible in 3 - 4 months, if there will be no new demand for bitcoins and some extra bad news. If Satoshi dumps all, we might see single digits.

This story has really been picked up in the last couple of hours. Nothing much new, just recycled, even by 'reputable' (yeah, I know what an oxymoron is) news outlets. Sucks for Mr D. Nakamoto. If it's not him I hope that journalist gets slapped with a lawsuit.
Supply/demand. Dump anything on the market and the price goes down. Dump a lot and it drops a lot. Dump a very lot and maybe there's enough to depress the price for quite a while.
No reason why Satoshi would do this, or why any major bitcoin holder would do this. You might as well ask what would happen if xx pension fund dumped all their stock of yy company.

sounds like question of big investor ... regular guys are not like this ...

btw hodlers not give a shit for questions like that

 

Let's do it Satoshi boy, let's do it  ;D

I think it would be awesome if he put up a 1 million coin Sell wall at $10,000.

I'm in ! ^^ I want 100 MILLIONS BTCs at 1 satoshi. 10K at 0.01 USD ! 1K at 1$.

The biggest ponzi scheme in history that lasted over 100 years?  :D however I doubt it would have a lasting effect because it is a disruptive technology that does not obey or recognize borders or rules or governments.You would have millionaires governments and everybody buy up the cheap coins  the price would drop for awhile but it would go back up.Remember there will be only so many of them.Last one being minted in what 2112 or something like that?Maybe Satoshi liked Rush or 2112 is is a prediction?

4th verse.

Look around this world we made
Equality our stock in trade
Come and join the Brotherhood of Man
Oh what a nice contented world
Let the banners be unfurled
Hold the Red Star proudly high in hand

and well it is inevitable that some will be lost.Your going to have someone in the future looking through old computer parts find a hard drive or thumb drive or some other piece of hardware with a unencrypted wallet on it and that treasure just waiting for them its not a matter of if its a matter of when.