Thoughts on recent move of 1000 coins mined back in 2010?

[pixie85]

Its becoming obvious that after 10+ years, virtual currencies just aren't going to take over the world.

10 years is nothing in the life of a currency. What's 10 years when you look back at what stock market giants have achieved. In its first 10 years Apple barely made 4x gains.

Long term hodlers have to sell at some point or what was the point of buying in the first place?

Moving coins doesn't mean selling them! I've moved my coins many without selling or giving them away for example when I bought a hardware walet.

[Oceat]

Its becoming obvious that after 10+ years, virtual currencies just aren't going to take over the world.

10 years is nothing in the life of a currency. What's 10 years when you look back at what stock market giants have achieved. In its first 10 years Apple barely made 4x gains.

Long term hodlers have to sell at some point or what was the point of buying in the first place?

Moving coins doesn't mean selling them! I've moved my coins many without selling or giving them away for example when I bought a hardware walet.

You do have a point to that statement since moving coins doesn't actually give any changes of the market, it means it's just being traded to another address which is a personal address. Unlike exchanges, price might move if it stayed or dump on an exchange address that would cause a little turmoil. Hence, I think the owner just changing new gear for mining but I couldn't imagine if those coins is being dumped, there might be a sudden movement of the price that would change almost everything drastically.

[maxreish]

No one claiming it's Satoshi's coins it's because it was owned by the miners itself. Not an issue anymore. I mean, the movement reason can be maybe not that heavy to think that it was Satoshi who did the btc movement. We don't know the reason of that movement but perhaps this movement was just simply moving to another crypto wallet address. If not, we are seeing some huge market effects right now.

[Gotumoot]

At least this early miner/investor would get a huge profit by holding and being early in crypto.
Just imagine if this person totally forgot about all of the Bitcoin that he/she has mined back then and just recently remembered it because of pandemic or any other reason and facing a financial problem right now then he/she has been saved from it.

[shoreno]

No one claiming it's Satoshi's coins it's because it was owned by the miners itself. Not an issue anymore. I mean, the movement reason can be maybe not that heavy to think that it was Satoshi who did the btc movement. We don't know the reason of that movement but perhaps this movement was just simply moving to another crypto wallet address. If not, we are seeing some huge market effects right now.

how will they knew that he owns it and is he the only guy that can earn such amount i guess no but whale or any person that has an ability to accumulate a btc can too . the reason of the movement can be test or to make everyone aware that there is a huge amount owned by someone else . atleast we are still safe , he didnt dispose the coin for cash and thats why theres no dump that happen .  price were not that huge to sell now , user did that can also be a sign of preparation because he thinks that there still more to come or theres a bull to come .

[ice18]

No one claiming it's Satoshi's coins it's because it was owned by the miners itself. Not an issue anymore. I mean, the movement reason can be maybe not that heavy to think that it was Satoshi who did the btc movement. We don't know the reason of that movement but perhaps this movement was just simply moving to another crypto wallet address. If not, we are seeing some huge market effects right now.

how will they knew that he owns it and is he the only guy that can earn such amount i guess no but whale or any person that has an ability to accumulate a btc can too . the reason of the movement can be test or to make everyone aware that there is a huge amount owned by someone else . atleast we are still safe , he didnt dispose the coin for cash and thats why theres no dump that happen .  price were not that huge to sell now , user did that can also be a sign of preparation because he thinks that there still more to come or theres a bull to come .

Yes that btc movements are owned by Satoshi because he is the first one who mined that particular block in early days of bitcoin we still dont know what is the reason of this movements maybe for security reasons but this only indicates that Satoshi is still aware of btc and maybe only watching on current market situation.

[BuNga_cute]

I'm pretty sure this early miner is Satoshi Nakamoto, because I'm not sure if any other early miners had that much Bitcoin.
Luckily this guy just moved it, without selling it. We don't need to know the purpose of moving that much Bitcoin, the important
thing is he doesn't sell it. So the market is safe for a while, maybe he is waiting for Bitcoin to return to the price of $ 19,000 to sell it.
Because the current price is still very low to sell Bitcoin.

[Lucius]

I'm pretty sure this early miner is Satoshi Nakamoto, because I'm not sure if any other early miners had that much Bitcoin.

Precisely because of the mystery surrounding Satoshi, some are terribly excited when the coins from the early blocks happen to move - so we always wonder if it might be Satoshi. Although Satoshi was the first to mine, as far as I know, some others joined him very quickly and I think it was precisely these people, not Satoshi.

To me, such moves are much more interesting due to the fact that the myth that such coins are considered lost is shattered. Some might wish that this is the case, but our wishes are one thing - and reality is quite another.

[Debonaire217]

I'm pretty sure this early miner is Satoshi Nakamoto, because I'm not sure if any other early miners had that much Bitcoin.
Luckily this guy just moved it, without selling it. We don't need to know the purpose of moving that much Bitcoin, the important
thing is he doesn't sell it. So the market is safe for a while, maybe he is waiting for Bitcoin to return to the price of $ 19,000 to sell it.
Because the current price is still very low to sell Bitcoin.

If the person behind this is really Satoshi, he will definitely not sell it even if it goes above 19,000 USD. As a creator of this such big technology, you will see its value not dependent on USD, but the value of Bitcoin itself to be used to buy things and services. You need not to compare it with the market as we all know the way back before, there is someone who bought pizza with Bitcoin, people just associated it's price now, but what is important is that the transaction was executed with Bitcoin's value and I'm pretty sure that Satoshi will do the same thing and there will be no reason of selling it.

[BlackFor3st]

It is quite interesting why this wallet became active only this 2020 and not on the peak of the market that happened last 2017-2018.

Let's just hope that this move will trigger the bull season and not to crash the market because we are in the middle of the season as of this moment and a single move can easily change the market whether it will crash hard and no bull to happen or it will grow further and bull will be triggered.

And what is good is that there is no information yet that those bitcoin were being dumped.

[DougM]

I'm pretty sure this early miner is Satoshi Nakamoto, because I'm not sure if any other early miners had that much Bitcoin.
Luckily this guy just moved it, without selling it. We don't need to know the purpose of moving that much Bitcoin, the important
thing is he doesn't sell it. So the market is safe for a while, maybe he is waiting for Bitcoin to return to the price of $ 19,000 to sell it.
Because the current price is still very low to sell Bitcoin.

These mined coins do not follow his pattern and were mined late in 2010 (just a month or so before Satoshi's last post here in December 2010 I believe) so there were definitely more miners on board at this time. 

That said it is estimated that Satoshi has 1.3+ million coins mined and I personally don't believe they are lost/burned.  Things will get very interesting when coins believed to be his are moved or sold. 

[CryptopreneurBrainboss]

I'm pretty sure this early miner is Satoshi Nakamoto, because I'm not sure if any other early miners had that much Bitcoin.
Luckily this guy just moved it, without selling it. We don't need to know the purpose of moving that much Bitcoin, the important
thing is he doesn't sell it. So the market is safe for a while, maybe he is waiting for Bitcoin to return to the price of $ 19,000 to sell it.
Because the current price is still very low to sell Bitcoin.

Sorry to disappoint you but there's no chance this old mined coins were that of Satoshi. Satoshi wasn't the only one mining bitcoin as of then. We had other enthusiast too that believe and backed the technology, dedicating their time to keeping the blockchain active by mining even though they were doing so at lost or very little profit. Remember bitcoin wasn't as marketable as it currently is back then.

The motives behind the changes of address aren't known yet therefore all the predictions out there are just mere assumption. If you think the coins haven't been sold don't forget whales from the early days hoping not to affect the market with their decision-making sell their coins OTC and not on exchanges to avoid panic since they know their wallet address are been monitored.

Early adoption don't have to wait for any market conditions before they offload their bags if they're interested in selling so the statement regarding the user waiting for bitcoin to return to its previous highs isn't valid. S/he can sell now and still be at outrageous gains.

[South Park]

So, with this event. Are we not expecting any dump if ever Satoshi Nakamoto will move his/her Bitcoins in the future?
Because I saw a lot of conversation about the Bitcoins owned by Satoshi Nakamoto, especially when Satoshi still active and we all know that most of those Bitcoins still unmoved, they will always say that once those Bitcoins will be moved, we will experience a huge dump or another bottom before a new all-time-high.

It will depend on the reason of why those coins are moving, if satoshi came back and he moved his coins just to reorganize his stash or to at least confirm the number of coins that he has at his disposal I do not think a crash will happen and maybe the price will go up due to the return of satoshi, however if a hacker somehow got his hands on several of the private keys of satoshi then the story could be different and a small reduction on the price may be coming as people then will wonder if there are other hackers out there that have access to the coins that we believe belong to satoshi.

[gentlemand]

Pathetic that these moves can drop prices. And pathetic that people think just because something hasn't moved for a while it is guaranteed toast. I have txt files with 15yr old wifi passwords still stored away. Why would I throw away anything Bitcoin related from back in the day?

I'm sure a ton of coins are lost. I'm sure it's not the ones we expect them to be. If you were an early miner you're likely to be a pretty meticulous and committed noodler. If they'd all been pissed up beauty therapists then maybe. I do not believe they were.

[XCANA]

Basically, there is room for everyone to make a good profits from Bitcoin investment, those who hold their worth eleven years ago shouldn't be held and tag satoshi stash. There are those who have long time been investing into Bitcoin and other cryptocurrencies and when they choose to pick a profit then don't talk. Those who invest in Bitcoin, years ago will have good profits to take home.