I think we will eventually find out, but im sure it will be many many years. I believe Gavin was the person to speak to him. Satoshi basically handed the reigns over to him saying that he had other things to work on, or something to that effect...
I can almost guarantee you that he/they lurk(s) here, just not under his name...
The last time he posted was when that other satoshi nakamoto from California was accussed of being the Satoshi, the real satoshi logged into one of his accounts and said just a couple of words, like "thats not me" or something short...
Interesting to think about Satoshi lurking this site. I can't imagine it's much fun most of the time, being as he/she/they probably isn't that interested in petty things such as the price, or the topics that come up again and again. Technical discussion or possibly even altcoins could provide some stimulation. |
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It went down to around 310 on btc-e when someone dump a lot of coin. So, it is not just bitstamp and bitfinex.
Someone who has controlled of a lot of bitcoin is dumping them everyday.
Here is a question for the conspiracy-theorists: Ok, you believe that some big whale dumped coins on the market in order to drive the price down so they could buy them back cheaply. Well, this big whale sold bitcoins for as low as $310. What price did they buy them back at? A good point. Which raises the question of why someone was so intent on selling so many bitcoins that quickly and damn the price. It seems like either a complete cash-out by someone (maybe a panic sell from some foolish new whales who went all in at higher prices), or an attempt to strike a blow against the market. |
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Not long at all. Think a day or so.
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You won't whine so much if the price goes up again.
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The other thing is that it's one thing for a newcomer to look at the charts, see all the bubbles and think 'oh this is easy, just buy and wait' . What they fail to take account of is all the bits on the charts where the price was crashing, often unexpectedly. It's not like this is the first time people have bought in near to an ATH and felt like a sucker later.
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Do you still believe in the future of BTC and plan to stay in long term? If so, then selling now would not really be advantageous to you unless you plan to keep watch and buy back in at lower prices (which to be fair seems a fairly good chance of happening right now).
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Someone just took the mother of all dumps on btce, basically.
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Alternatively 'wouldn't appreciate what I have' could mean failing to hold your coins leads to missing out as they later 'appreciate' eh  Oh the mysteries of professional bullshitters. |
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Is gold a currency?
Bitcoin has far more chance as a store of value than it has as being a currency.
The only thing that is stopping it is the manipulation, and if it will go to new highs, it will be presented in the worst light until it is controlled in most volume by 1%.
It is simply a ponzi if all it ends up being is a store of value. Bitcoin MUST have that backbone of spend-ability to give it some intrinsic worth other than the number of greater fools it can attract. You could say it's a store of value that is easy to transact.... so, a currency. You want a pure store of value, forget bitcoin and go for something traditional like gold. Bitcoin is fundamentally going up on the potential it has to be easily spendable. Most newbs aren't happy to dive in until they feel there's more to it than making earlier adopters richer. |
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Yet another ageist thread. They are always very annoying reading for this long-time grandparent.
I'm sorry to hear that many of you have such dense grandparents though. Such conditions are often hereditary, but it is unwise to confound correlation with causality (hint).
Hey kids - did I ever tell you about the time I found two BTC blocks using nVidia cards? Back before the reward halving split in 2012, of course. True story!
Heh.
Well, yes it does make assumptions based on age, but really you're just very removed from the norm. |
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Oh gawd, now this thread will be spammed to death. Can we have this thread locked and all posts on this page deleted? I'd rather have this thread preserved as a historical relic than see it get tainted with a bunch of new guys putting their gum on the wall.
I was browsing through the old threads Satoshi posted in a while ago, kinda surprised they haven't been spammed up to death and locked already. |
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6) hoarding customers funds for a year, will make them profits without even having to play the markets
Not if the customer then wants to have the same number of coins back, surely. It would pretty much be embezzlement (though then again, wouldn't put it past them at all). |
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OK>.. NOW you are getting a little wishy washy. Which scenario are you predicting the BIG grand one or the CRASH one? Can't we have some kind of middle-ground and reasonable prediction? It is the uneasy feeling that i get when I hear people predicting that BTC is all or nothing... that is ridiculous in my thinking b/c there is quite a bit in the middle that seems just as probable as the all or nothing predictions.
For what it's worth, here are two quotes from Satoshi that explain the all or nothing mindset: Feb. 14, 2010: "I’m sure that in 20 years there will either be very large (bitcoin) transaction volume or no volume." Feb. 18, 2009: "As the number of users grows, the value per coin increases. It has the potential for a positive feedback loop; as users increase, the value goes up, which could attract more users to take advantage of the increasing value. It just seems hard to imagine any 'success' scenario where said success doesn't then cause even more users to jump on board and thus pump up the value to ultimately massive highs. This should hold true as long as bitcoin remains strong in network effects and technological superiority over fiat. I would say the public would have to become apathetic to bitcoin for it to top out at a 'good but sort of moderate' value, which is unlikely given the disruptive nature of it. |
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I will retire yes, but only when i reach 100 btc then i will retire and sell it all my asset.
Meaning i will sell all 100 btc and the rest of coins that i have.
I don't get people who say things like this. If BTC goes through enough growth for 100 coins to be enough for retiring early in luxurious style, the bitcoin economy will be a pretty solid store of value by that point, have enough users to be a real economy in its own right and no longer so based on speculation, and you'd probably later regret your decision to transfer back to fiat. Just buy what you need with your coins. |
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All they're recognising here is that bubbles burst, and that a big factor in the bubbles is media and social network attention.
So when search volume spikes, a bubble is probably happening, which will pop at some point or other. Well done BBC, justifying that license fee once more.. (but at least it's more visibility for bitcoin)
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Obviously he or they have the 'right' to make money off it. Doesn't change the fact that it would be regarded as a pretty significant event and yes, possibly damage people's perception of bitcoin. Remember that part of the mystique and allure of bitcoin is that it almost has a deus ex machina thing going on, with the disappearing and anonymous originator. Up to him/them to decide if potentially ruining their life's work is better or worse than living like a king!
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I think it will be hard to convince specifically consumers at this point because there still isn't enough infrastructure to yield a lot of benefits over fiat, as you've outlined. This will change in the future when getting in and out of Bitcoin can be done as easily as walking to a local bank or currency handler and storing Bitcoin becomes a virtually brainless activity. There's still a lot of fear and uncertainty associated with Bitcoin, which makes it scary for consumers.
On the other hand, you should be able to convince any long-term investor who can understand that central banks are inflating their respective currencies into oblivion.
This. Fiat is either spreadsheet numbers or cash, so if you remove the infrastructure and compare like for like, suddenly the bitcoin network looks enormously superior. We need a bit more infrastructure and ease-of-use stuff to comprehensively defeat traditional payments infrastructure still. With that said, owning some coins and seeing how easy it is to transfer wealth anywhere without limits is quite enlightening. You could pitch it as being useful to people who for example get paid from overseas regularly, who would easily see how wonderful this new tech is. So not really the Joe Average consumers you might be thinking about here, but they still exist. Oh! And don't forget that alt currencies open up online payments to those who are unable to do card payments for whatever reason. |
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+1 dropt. With the transparency of the blockchain we can all keep an eye on what's REALLY going on in bitcoin. Overall it's looking good, so calm your tits about the market price gyrations, it will only lead you to panic buy and sell at the worst possible times and fill someone else's pockets with your precious coins.
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