What if ... S. Nakamoto lost all priv. key and can't use "his" btc?

[ajareselde]

no way he lost it.
How you can imagine to make that kind of mistake in project that you invent? He is waiting for 5k or 10k and will start to selloff

I highly doubt that's true. If he was interested in money, he wouldn't be creating something with zero point of centralization, since it doesn't bring up profits to that central authority.
Satoshi is, i believe, interested in monetary revolution. Don't believe he lost his private keys either, and if he even uses some of his balance, it will be for the benefit of the bitcoin
network, and not for some private reasons.

[dothebeats]

Eh, none of our business actually. Yes, many will get shocked by the news, but we can't do much about it. There is a possibility that the hacker might sell some, but not all, and that may cause a big disturbance price wise.

[Kprawn]

If he lost the private key, it would be better for us all... The reason why I am saying this is A. Satoshi will have to reveal himself/herself to spend those coins, and that will not be good for us. The people hunting

Satoshi, needs to put a face to the person, and this might trigger that. B. If those coins are spend, the price will drop significantly.... to the levels where it was in the early days. A lot of people will lose a lot of

money. Just imagine if you bought bitcoins at $400 and the price drops to $0.20 cents. 

[johnyj]

I had a thought, there has never been a person called Satoshi Nakamoto from the beginning, it is just a name made by a group of people, and maybe some of them is already died, but just like the God in various religions are also made by a group of people, he become an immortal figure that represent the spirit of decentralization and an incorruptible monetary system

[NorrisK]

If he lost the private key, it would be better for us all... The reason why I am saying this is A. Satoshi will have to reveal himself/herself to spend those coins, and that will not be good for us. The people hunting

Satoshi, needs to put a face to the person, and this might trigger that. B. If those coins are spend, the price will drop significantly.... to the levels where it was in the early days. A lot of people will lose a lot of

money. Just imagine if you bought bitcoins at $400 and the price drops to $0.20 cents. 

It is very unlikely that the price will drop that far if he starts moving any coins. I guess it is even more unlikely though, that he will start moving any coins as it will indeed put his project at a serious risk.

Maybe the coins should just be send to a burn address to get rid of them forever.

[odolvlobo]

So let me get this straight guys.

People have speculated he has 1.5 million coins worth right now $566,490,000.00 USD
...

That number seems to grow over as time goes on. A year ago it was estimated that he had half that number of coins.

[LFC_Bitcoin]

As subject...
What if ...
S. Nakamoto lost all priv. key and can't use "his" btc?
(can't sign a message etc etc?!?)
I know it's likewise "impossible" but did you think there is a possibilities about this?
Or even, if this happened, what are the consequences for btc environment?
Thank you to all responders/readers

Selfishly it's probably a good thing for us because it limits supply & makes our coins worth more.

Think of it like oil, if a large % of the worlds oil dries up what do you think happens to the price of the available oil?

[spazzdla]

If he lost the private key, it would be better for us all... The reason why I am saying this is A. Satoshi will have to reveal himself/herself to spend those coins, and that will not be good for us. The people hunting

Satoshi, needs to put a face to the person, and this might trigger that. B. If those coins are spend, the price will drop significantly.... to the levels where it was in the early days. A lot of people will lose a lot of

money. Just imagine if you bought bitcoins at $400 and the price drops to $0.20 cents. 

It is very unlikely that the price will drop that far if he starts moving any coins. I guess it is even more unlikely though, that he will start moving any coins as it will indeed put his project at a serious risk.

Maybe the coins should just be send to a burn address to get rid of them forever.

That's a potential of 7% of all BTC that could be pushed at once.. it would spook people.  The price would react 100%.

The only person that can send them is one that knows the private key.

[spazzdla]

So let me get this straight guys.

People have speculated he has 1.5 million coins worth right now $566,490,000.00 USD
...

That number seems to grow over as time goes on. A year ago it was estimated that he had half that number of coins.

It's 100% known he has 1 mill coins min, they have never moved, mined to known addresses.  People are estimating coins mined to unknown addresses.

[Light]

At most, we can divide Bitcoin in denominations smaller than satoshi if the supply is too limited. I don't find that a huge problem however. Those coins can be retrived by a fork but I don't think it is reasonable.

I doubt we'll come to the need for denominations smaller than a satoshi in this lifetime (i.e. 80 years) and that's being hopeful given the uncertain nature of Bitcoin in the short term. As to 'retrieving' coins via a fork - that would be a definite no-go simply because if you could effectively steal someone's coin by getting a network consensus very few people would trust Bitcoin (and a great number of people would never support such a fork in the first place).

[bitbollo]

I had a thought, there has never been a person called Satoshi Nakamoto from the beginning, it is just a name made by a group of people, and maybe some of them is already died, but just like the God in various religions are also made by a group of people, he become an immortal figure that represent the spirit of decentralization and an incorruptible monetary system

As subject...
cut

Selfishly it's probably a good thing for us because it limits supply & makes our coins worth more.

Think of it like oil, if a large % of the worlds oil dries up what do you think happens to the price of the available oil?

Well...
As johnyj says this "protocol" was created by a group of people.
I think this as to be a "sure" fact, because, every one work in academia or study at university and can understand
"the quality" of a paper... well... one person could not do a paper like this.
Nor a genius, because there are some "points" that need the help of "other" people and not one only!
[I do know if there is a thread about the "paternity" of paper and some one has already talk about it...]
And this an important point, because:
- probably more than one person could be "satoshi" or use an address linked to "satoshi".
- this people need to have a strong agreement, because "what do you think happens to the price" ? One of this people could selfishly pump/dump the price.

There is a "time capsule"?
They decide to "destroy" all proof ?  
Hundreds of developer work on this project and they get a reward?