Print Page - BCH, accessing them with bitcoin keys?

I was listening to Mr. Saylor explain as to why it's important for the founder of bitcoin not to move coins. It shows that bitcoin was never meant to be something that was built for profit. However true this is, if coins are moved what are the implications? And if one person holds coins in bitcoin before 2017 doesn't the same person hold coins in BCH? Why would Satoshi want to move coins if he could just move BCH? Asking for a friend.

Quote from: Keawe on May 05, 2024, 09:23:03 PM

It shows that bitcoin was never meant to be something that was built for profit. However true this is, if coins are moved what are the implications?

I don't think Satoshi is ever going to move their coins, and even if Satoshi does move coins, it would not change people's idea of what bitcoin is to them or what they want to use it for. That being said, there would be implications on the price of bitcoin if Satoshi's coins move, there would be a lot of uncertainties surrounding why Satoshi moved their coins and it will make many people sell off and the price will fall.

Quote from: Keawe on May 05, 2024, 09:23:03 PM

And if one person holds coins in bitcoin before 2017 doesn't the same person hold coins in BCH?

Yes, if you join the new chain and claim the forked coins.

Quote from: Keawe on May 05, 2024, 09:23:03 PM

However true this is, if coins are moved what are the implications?

The market would obviously react to that but long term, things would just be fine.

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And if one person holds coins in bitcoin before 2017 doesn't the same person hold coins in BCH?

Yes, if they never moved those coins out of the wallet before the forking event.

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Why would Satoshi want to move coins if he could just move BCH? Asking for a friend.

Ummm, because BCH is not Bitcoin?

Why would the Satoshi move a coin whose founder tried so hard to fight against Bitcoin?

Quote from: Keawe on May 05, 2024, 09:23:03 PM

You should have provided a link to the video so that one can actually listen and know what he was saying. But one thing I know is if a large amount of bitcoin is moved from a dormant address not necessarily by Satoshi himself then it will cause FOMO or let me say FUD as many will think it’s for sell. One thing I know is Michael Saylor is a big bitcoin enthusiast and he always talks about bitcoin been hold for a very long term and not been sold but that doesn’t mean you shouldn’t sell when you need to sell, just make sure it’s in profit.

Also bitcoin wasn’t built for just profit it was introduced by the founder as an alternative currency to the fiat currency but since it’s has an advantage of not been affected by inflation people see it as an asset that can grow and the hold for profits but the main reason for bitcoin creation was to be a currency.

BCH was a bitcoin hard fork that happened in 2017 so anyone that had bitcoin before the fork happened also got distributed the BCH equivalent of the same number of bitcoin

Worrying about bch is definitely not a good thing, this altcoin brought a lot of problems to bitcoin in the past when bch promoters kept calling this altcoin a real bitcoin because in their minds this altcoin was in line with what satoshi wrote. I see how BCH supporters thought bad, they were so crazy that they were even saying nonsense. and after many years, they still continue with their madness, and see that bitcoin was even ETF approved while altcoin cash was not and in my opinion not even if many years pass it will not be approved. so if you want to invest in altcoin cash Bch then just be careful with this altcoin, regarding the questions you asked, they already answered you

Quote from: Keawe on May 05, 2024, 09:23:03 PM

The market will dip temporarily because everyone will be in panic but later on, there goes the recovery.

Quote from: Keawe on May 05, 2024, 09:23:03 PM

And if one person holds coins in bitcoin before 2017 doesn't the same person hold coins in BCH? Why would Satoshi want to move coins if he could just move BCH? Asking for a friend.

It's because nobody knows if satoshi is already gone or still alive and kicking.

If Satoshi moves his BTC from that wallet I don't think we will see some changes in the market. I think it depends on where he sends it if it is just sent from wallet to wallet it might not have any impact on the price but if it is sent from his wallet to exchanges I'm sure most of us will react immediately because it could be a signal of the bearish season.

I don't think Satoshi would do that transferring BCH without moving the BTC from your wallet just to redeem BCH might compromise his private keys So I think Satoshi won't do that unless he transfers all the BTC from that wallet to a new wallet.

Quote from: BitMaxz on May 05, 2024, 10:37:07 PM

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I don't think Satoshi would do that transferring BCH without moving the BTC from your wallet just to redeem BCH might compromise his private keys So I think Satoshi won't do that unless he transfers all the BTC from that wallet to a new wallet.

Well said, in short, if Satoshi still exists and still has access to the wallets, it will fall here because even though Satoshi is able to do all the things we said, he/she still can't do the first step where the access on the wallet just to prove he/she is really the owner of it.

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“I'm sure that in 20 years there will either be very large transaction volume or no volume.”

Quote from: Keawe on May 05, 2024, 09:23:03 PM

Yes. The person keeping their coins on their non-custodial wallet prior to a fork would have ability to use every of those forked coins.
We don't know for exact how much bitcoin does satoshi owned wallets hold, even a humble estimate suggest it to be 500K btc that makes him multibillionaire.
It's a surprise that satoshi has not cashed out any of the coins we can associate with satoshi. Either he/she is too humble that he did all this for the sake of open sourcing and decentralizing the finance and don't want to profit from it or he/she is already a multibillionaire that the money doesn't hold as large significance to him/her or he/she is dead.

Yes satoshi and anyone who had coins on their wallet on Aug 2017, can access their Bch coins and sell them. Satoshi could sell all his BCH but by doing so it would create chaos because many BTC holders would be nervous that he might sell large amounts of his coins and cause market to crash.

There is speculation that he holds maybe a million or so bitcoins, this is a huge amount. So if he started to actually move any of those early coins, it would cause manic and many people would just sell their investment out of fear.

It’s best if they are never moved.

Quote from: Keawe on May 05, 2024, 09:23:03 PM

At this point I will be incredibly surprised if the coins which are believed to belong to Satoshi ever move, after all what is he waiting for? Bitcoin at its current price already made him one of the richest persons alive, and if the price of bitcoin keeps going up, it is entirely possible he could claim the first spot.

So why move his coins then, when he can still get great profits now if he sold just a portion of his coins? So at the end, it does not make the most sense for Satoshi to do this, which makes me think it is useless to worry about this.

Quote from: Keawe on May 05, 2024, 09:23:03 PM

I don't think that moving Satoshi is possible.In these type of market conditions where every project is facing major dumps it's not possible to shift a coin. Coin shifting is only possible with losses and a project can bear losses only if it's is running on a positive condition.

Even if the shift is done for the sake of argument it'll not change the view and perspective of BTC in peoples mind. It's usage will remain same and it will not be affected much.

Quote from: hugeblack on May 06, 2024, 02:19:33 AM

We do not know the truth about the reason for Satoshi’s disappearance. Perhaps he was involved in an accident or something, especially since he did not indicate that he wanted to leave, but I do not agree with the part that bitcoin was never meant to be something that was built for profit. [/quote
Does it mean some key developers of bitcoin after Satoshi hijacked and pre directed the actual motive of the first developed Crypto coin?
Wasn't it clearly written that the coins development was to serve as alternative means people can make payments on behalf of the fiats and then alternatively for a source of income termed to be holding as assets of investment.
Do you know that even if it wasn't speculated about holding bitcoin for investment, the coin users could still understand the fact that since it's a volatile currency potential to yield income and lost, it could still be discovered to be medium or investment.
I can also bet to it that if not for the volatility of cryptocurrencies, it'd definitely be a dump development to the society because the fiat is there already doing the same job and the only difference would be that it was a digital currency.

How surprise are we to even if someone have to say the USD is also an asset? The uniqueness of cryptocurrencies to the Fiat is just the assets volume and that's why it's being massively adopted in the globe of today.

Quote from: hugeblack on May 06, 2024, 02:19:33 AM

Satoshi explained in one of the quotes

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“I'm sure that in 20 years there will either be very large transaction volume or no volume.”

And the prophesy never lies because it's obviously fulfilling.

Quote from: BitMaxz on May 05, 2024, 10:37:07 PM

I don't think Satoshi's coins are ever going to move, but if it ever does there would be a crazy movement in the market, notwithstanding where he moved the coins to, it is even difficult to tell if the coins were moved to an exchange address or not and people would not wait for such details, they would get paranoid and start selling.

That being said, there'd be quite a lot of people that would not react if this happened, but so many others who are short term investors and are not strong hands/hodlers, will sell ASAP due to fear and uncertainties.

Quote from: Keawe on May 05, 2024, 09:23:03 PM

I can see this going two ways: people lose their trust or people gain confidence.

Once people sees that the founder is moving his coins, they might wonder what’s the reason and they will end up believing that there’s something wrong with the coin and thus they need to move their coins as well. Another scenario would be people finally feeling more safe and secure upon knowing that the founder still has access to his coins. This will allow people to think that all this time Satoshi has simply just been holding just like a lot of us.

Quote from: Keawe on May 05, 2024, 09:23:03 PM

And if one person holds coins in bitcoin before 2017 doesn't the same person hold coins in BCH?

If you hold btc from the time that btc was forked during 2017 then yes the same private keys and addresses that hold your btc will be the same as the ones you hold bch with. You hold the equal amount of btc and bch and I think that you can claim your bch with your btc private keys as long as you have bch wallet.

The original purpose of Bitcoin is not to invest but to pay goods digitally and not owor to buy Bitcoin and sell again and it is because of the store of value people started using it to be and investment coin to gain profit. But coins were moved from the genesis block/ address last year so probably the founder has move som coins from there. And it is necessary that someone who was holding coins from 2017 must have hodle coins in BCH if the person still have the key.

If Satoshi only move a potion of his coins and sell it. He would have enough profit from it.

Quote from: Mate2237 on May 07, 2024, 08:19:30 PM

If Satoshi only move a potion of his coins and sell it. He would have enough profit from it.

Hence why I am curious as to why won’t Satoshi reap the rewards from his hard work. Although of course we don’t know where he is nor what has he been up to maybe he is still in the crypto community and is participating somehow.

Whatever he’s doing, him not moving his coins should be the sign that we all should hold bitcoin dearly and earnestly.

As far as I can tell, I don't see any coin moving here, no one knows anything about Satoshi and there is no point in worrying about it. Both coins can be invested in, depending on one's own will rather than moving the coins. Bitcoin is always a good currency and the rise in price of Bitcoin makes everyone profitable. Do your research before investing your funds in any financial asset or product or event being presented.

Quote from: Keawe on May 05, 2024, 09:23:03 PM

I was listening to Mr. Saylor explain as to why it's important for the founder of bitcoin not to move coins.

None know whether satoshi is still alive. I think that i will never ever think about that to happen. Satoshi has mined it 1 millions btc but it's still remain unclear about his existence today. More than a decade has passed.

Quote from: Keawe on May 05, 2024, 09:23:03 PM

It shows that bitcoin was never meant to be something that was built for profit.

Satoshi has fully explained his motivation to build bitcoin on his bitcointalk account.

Quote from: Keawe on May 05, 2024, 09:23:03 PM

However true this is, if coins are moved what are the implications? And if one person holds coins in bitcoin before 2017 doesn't the same person hold coins in BCH? Why would Satoshi want to move coins if he could just move BCH? Asking for a friend.

Probably, investors are losing trust to the bitcoin. A huge dump is gonna happen. Then, just answer this. Where the fuk is satoshi now? no one knows it. Satoshi can dump his 1 millions BCH and it will give him almost a half of billions.

Quote from: btc78 on May 07, 2024, 11:05:01 PM

Quote from: Mate2237 on May 07, 2024, 08:19:30 PM

If Satoshi only move a potion of his coins and sell it. He would have enough profit from it.

You are right because the matter what, percentage of the coins in his custody must be sold im the All Time High period. Nobody invest in a business without taking profits and only investing. It has not been done any investment platform. And all depends on the market input and output. It is good to keep holding to maximize good profit. And there is no way someone creates something valuable that helping people in the world to come from the poverty line and the person would abandon the project for others to benefit when he is still alive. I don't think it is possible.

Even though we are not seeing Satoshi Nakamoto physically in the forum as a the name, he is participating with another account and really as he still holding on to his coins, it's an example for us to keep on holding.

Quote from: Coyster on May 07, 2024, 05:45:34 PM

Quote from: BitMaxz on May 05, 2024, 10:37:07 PM

I heard before that his wallet have started to became active again and I think there is even a transfer that happened. Maybe that's also the reason of the changes in the market that we experienced last time but luckily we are still recovering and becoming stable again. It's possible to track a wallet or if where are the coins are going/have come from but it will only became hard once that person uses some kind of anonymity tools/services like mixers.

It's always better to wait though and confirm things because we might panic for the wrong thing and we can only experience a loss. There are short-term investors who don't have a weak hands but they only sell to secure their profit and only to fulfil their chosen type of investment.

Quote from: Coyster on May 07, 2024, 05:45:34 PM

Quote from: BitMaxz on May 05, 2024, 10:37:07 PM

Kindly can you please explain further that how moving a coin will effect the market upto that much that you're giving focus on.I mean Satoshi is neither a top altcoins not it's a project that can have that much influence in the market.

Then how you're claiming that it'll effect that market that much? I'm not disagreeing with you I just want to know more about it so that I can correct and enhance my knowledge.

Quote from: Keawe on May 05, 2024, 09:23:03 PM

If you don't know that address format of BTC and BCH are same so if satoshi's BTC has bitcoins then the same address on BCH will have the forked coins so no matter which coin is moved it will definitely be the talk of the world for few days that would have negative effect on bitcoin as well. But he hasn't touched his bitcoin over a decade so is there any reason he comes now and cashout all of them? I don't find any.

Maybe Satoshi’s coins are in cold storage and he doesn’t want to import his keys into a hot wallet to access his BCH. The safest way to access forked coins is to first move your BTC into a new wallet to avoid any potential issues with malicious software stealing your Bitcoin. Any way you go about it, even if he doesn’t touch his BTC, we would still know Satoshi was active again and it would cause all kinds of speculation. He will probably not move any BCH, even if it is to dump it, because it will draw too much attention.

Quote from: FinneysTrueVision on May 10, 2024, 08:37:43 AM

So much time has passed already since we last heard anything from Satoshi, that at this point we can only assume that he is never going to move his coins no matter what.

Since it would not make sense to do so now when he could have done it on the past, now whether this is because he passed away already, he is an idealist, he is afraid of what it may happen to bitcoin or to face criminal charges, it does not really matter, as at the end the result is exactly the same.

If say Satoshi did move the 1 million bitcoins, people will notice and most of them if not all will probably interpret that move as a sign that something big is about to happen and depending on how they would see it, some big whales might sell all of their bitcoins because they expect that the move might be a cause for the floodgates to open which is the 1 million bitcoin being released in the market, that much bitcoin will lower the price to an unimaginable amount that it wouldn't be logical to hodl anymore because the price dump is going to be massive compared to the massive sell that would happen before the real sale of the millions of bitcoins.

Quote from: Keawe on May 05, 2024, 09:23:03 PM

If the coins were moved it would one prove satoshi is still alive but it wouldn't say anything about its creation. It's estimated that satoshi holds the keys to about 1 million bitcoin which was mine from inception. The fear of if they are moved is that 1 million of bitcoin could be dumped tanking the price I think that's the real reason.

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