Bitcoin Forum

Are they on blockchain.info or implemented in some kind of code in the protocol?

Do they exist?

Can I see them?

They are in the blockchain, just like ALL bitcoins.  Bitcoins don't exist other than as an unspent output in the blockchain.

You can use any block explorer to see transactions and block rewards.

The difficult part is determining which ones belong to Satoshi, and which ones belong to other people.

There has been some analysis based on knowledge about what the bitcoin community, software, and economy was like during the first year of its existence. This analysis has resulted in several people coming to the conclusion that there is a significant sum of bitcoins that can be assumed with relative confidence to have been mined by Satoshi.

For an example of the analysis, see here:
https://bitcointalk.org/index.php?topic=507458.0

"No satoshi address for you!!"   -address_nazi

What is this 1.5 million coin stuff?

A hoax premine or coins mined really early in the days?

I'd like to know, because it doesn't exactly click in my head.

I think it's the coins mined early on and not the premine, but I could be wrong.

No its a premine. No doubt about it. Bitcoins had one of the highest premine's ever. Only coins I know of had a bigger premine off the top of my head was the country coins that was popular a few months back.

Steve

The coins from satoshi went each block to a separate address/multiple addresses at the time of mining, so dont expect to see them all in one address.

Utter nonsense.

You can pretty much ignore 99% of the people with PRIMEDICE adds in their signatures.  I find that very few of them have any idea what they are talking about and just spout off nonsense to try and increase their post count so they can earn more from the advertisement. I've actually taken to clicking the "ignore" link under their ID on their post before I even read their posts in most cases.

There was no premine in Bitcoin.  Satoshi made certain that it was verifiable that there was no premine by including a headline from a newspaper in the genesis block to prove that the genesis block couldn't possibly have been created any earlier.

While Satoshi did publicly announce the bitcoin software in discussion forums immediately, there weren't very many people that saw the potential or found it worthwhile to participate.  Obviously only those who read the forums were even aware of its existence.  On the other hand, it wasn't clear that it would ever be anything more than a interesting technical concept either.  As such, Satoshi did the vast majority of the mining during the first few months to keep it up and running while people were using the system and trying it out.

Exactly, Satoshi had or has those coins because at that point no one was mining no matter that he made public the launch so he had to be solo mining for almost a year to keep the network online.

Sounds like you have a very different definition of "premine" here...
Satoshi announced the project publicly, and there were only a small number of people interested in it and started mining at the beginning.
As a result, satoshi did mine a lot of bitcoins, but I don't think it should be called as a "premine".

Wait, so the guy shuffling around 10,000s of BTC might actually be Satoshi?

Does our fabled mystery man still reveal himself via transactions?

And is Satoshi currently still using the network? Could be track him?

SOMEONE START A THREAD DEVOTED TO THIS NOW!

On a different topic however, I can see Satoshi having a large amount of coins, but I in no way think that it is a premine. There is no way Bitcoin would be at $600 with another 1.5 million coins on top of the 21 million.

I've heard of and done stories on such massive premises in the past, but I seriously doubt that there is a premine, and, as stated, people have said it's verifiable on the gensis block.

And thanks DannyHimilton, really helps to have a long-time member explain.

 ???

Satoshi get over ~1 mil bitcoin from mining almost alone for more than a year. https://bitcointalk.org/index.php?topic=175996.0
But, he has only spent 50 btc of them, and hasn't touched the rest of his bitcoin. https://bitcointalk.org/index.php?topic=548508.0

Shuffling around 10,000's of BTC?  Not sure what you mean, but there hasn't been any indication that any of the bitcoins that are likely to belong to Satoshi from the early months of Bitcoin have been moved.


Not that anyone can confirm as far as I've heard.


Possibly.  There really isn't any way to know unless he spends some of the coins that have a high probability of belonging to him.


Not as long as he is careful.


Why?


It's not.


The possibly 1.5 million BTC that he might own are part of the 21 million BTC that will ever be created, not "in addition to".

Well block reward is fix.. of 25 btc .. with some fees..

Block reward gets halved every 210,000 blocks, starting at 50 btc in the beginning.

Focusing mainly on that last part, I know it's part of, not in addition too. In my statement, I am saying there wouldn't be another 1.5 million coins premined IN ADDITION TO the limited 21 million and the exchange rate would remain the same.
The block reward is not 100% fixed. A little while ago, it was 50 BTC/block, not the 25 we have currently. And in 2016, I believe, even that will be halved into 12.5 BTC/block and so on, until the final bitcoin is mined in 2140. That's still a log while off. The mining rate halves even 4 years was it? So yeah, 2016, then 2020, then 2024, and so on. It'll become really small amounts, however. Trust me. Just wait and you'll see.

after 2140 the bitcoin cannot be mined so its mean that no bitcoin left to mine why? is the algorith set to it? and i want to know that after 2140 the bitcoin worth lower then 1 dollars or will raise from 1000 dollars.. ? please clear it..

Transaction processing will still occur.  New blocks will still be created.  There just won't be a block subsidy any more.  Instead those creating blocks will get their revenue entirely from transaction fees.


Correct.  No new bitcoins will be created after that.


Yes.


Everybody wants to know that.  None of us can predict the future.  There are no time traveling machines.

Well, I have read most of Satoshi's post on this forum, to try and picture, what his thinking was, when he was still active. A lot of testing and tweaking was done in the beginning, so I'd guess, most of those coins
was just part of the testing process.

Might not even be him, but someone else. Will we ever know.

What we do know is, we have 1.5M coins out of circulation and many more in cold storage. That inflates the BTC price. The small amount of coins, autioned off by the fed's, dropped the value of the coin, by 6% - So you can imagine, what a 1.5M coin dump, would do to the currency.

Whatever his, or their reason to keep these coins out of circulation are, for now it's a good think, to keep it out.

That is some serious amount of BTC, if they all belongs to satoshi, he is some whealthy and clever guy. Clever anyway to create a BTC offcorse :)

I thought Satoshi had 1 million coins, not 1.5 million.


Bitcoin wasn't premined. Because the definition of a premine is when the dev begins mining before the coin is actually released. Satoshi launched Bitcoin in 2009 and all coins were mined after this date.

On the other hand, it could be argued that Bitcoin was ninjamined, albeit unintentionally.

Bitcoin wasnt pre-mined, that's just fud, and you can see all of satoshis coins on the blockchain. They haven't moved weirdly.

Yea, i wonder why does Satoshi do not move coins at all ? He is not even active now in the forum or anywhere else ?

So where are the oldest coins, can someone pubish their address here?

The block reward for block #1 is the oldest spendable coin (the genesis block is unspendable due to a bug).
https://blockchain.info/block/00000000839a8e6886ab5951d76f411475428afc90947ee320161bbf18eb6048

Maybe he is dead?  People die everyday.  Walked out in front of a bus and his next of kin had no idea he was Satoshi.  Not saying that did happen but it could have happened.  Kinda hard to move coins or post on forums if you are dead.

imagine if he actualy sold on that 30$ spike in the early days, or 50$ on second one.

if he did walk infront of a bus, that would be the most obvious reason :)

regarding those coins on blockchain , you cant realy know who owns them, one can only guess

Thanks for the replies. It seems that Satoshi was a master of anonymity even before he knew how popular BTC would be. He sent his original mined coins to lots of different addresses. It's like he knew that this idea would be important.

Which forum did he mainly post on in the early days? Just this one, or were there other places?

Posted From bitcointalk.org Android App

well, he is wealthy should he decide to collect payment. but if he tried to sell/spend even a decent fraction of his BTC, the price would go to $0..... i'm thinking he "lost" the keys on purpose.

That would be an elegant way to secure the network and ensure bitcoin's success.  <br /> <br />Win the game by throwing away the private keys to 1.5M BTC, ensuring your baby survives.  <br /> <br />Could be the end scene of a movie!

That is one of the biggest mysteries in bitcoin, along with "who is satoshi" and "where is satoshi now". :P

If the satoshi's coins are moved (but not sold on exchanges), IMHO, the price shouldn't be affected too much, but we will get a flood of "satoshi is back" posts everywhere and the story will hit mainstream media in a short period of time. :)

hello sorry i did not find any answers for you but i find the first bitoins blocked mine by satoshi for test the coin is it working good .. i have the addy and i think that addy is of satoshi.. its full of bitcoins about 1000 bitcoins in it.. :)

Doesn't make sense, it is not premine, because you have the opportunity to mine, but you didn't

He used to post here, but he posted the whitepaper somewhere else I believe.

Here is his bitcointalk account: https://bitcointalk.org/index.php?action=profile;u=3

If 1.5 Millions coins belong to the founder of bitcoin, that wouldn't be surprising because of the fact that he created and developed bitcoin during its early days. If you want to see those coins, i'll doubt you'll find it lying on a single address. That would create suspicion over bitcoin users :D

Many of the early mines sent each block reward to it's own new address.  You'll find thousands of addresses with untouched 50BTCs sitting in them.  Satoshi probably did something similar and has many "small" addresses.

So his coins are hidden and we can't track them really.

Most of his bitcoin were untouched, there is like nothing we can track...

why you guys want to see satoshi 1.5m coins? as he said that they are not in one addy.. but satoshi nakamoto mine first block to check the bitcoin algorithm or whatever and wants to check its working i see the first block but i forgot the link .. as sson as i got the link i will tell you .. And yeah there are total of 21M bitcoins have been already mined. and the mining will be stopeed on 2140 .. last coin will be mined in 2140  or so..
Please clear this if the last bitcoin mined in 2140 then the difficulty drops down?

So basically after 210,000,000 its over lol.

Yes, thats the total suply.

Satoshi is not dead... at least till Mar 7, 2014 => http://p2pfoundation.ning.com/forum/topics/bitcoin-open-source?commentId=2003008%3AComment%3A52186

He is smart enough that he will keep them hidden from general public, since it's safer for his life, his coins are worth a lot, so he will not gamble his life on public addy.

May be, most of the addresses listed here (http://bitcoinrichlist.com/top100) are owned by Satoshi.