the reason why Satoshi didnt use his 500k-1Million Bitcoins

[toinew]

Because if he had used his huge stash of bitcoin, it would look like a huge premine (around 2 and 3% mined by him, the dev)
Also, the block rewards are supposed to distribute the bitcoin, and not centralize all the bitcoin mined in 1 person hands.

Therefore, i think Satoshi prefered to sacrifice those premined coins for the sake of a better distribution of coins.

[1714932895]

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[1714932895]

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[1714932895]

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[1714932895]

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[RussianRaibow]

Ok. So what's your point ?

[theskillzdatklls]

Ok. So what's your point ?

basically that he knows how to make words bold and type and stuff. you know, internet.

[jonald_fyookball]

Because if he had used his huge stash of bitcoin, it would look like a huge premine (around 2 and 3% mined by him, the dev)
Also, the block rewards are supposed to distribute the bitcoin, and not centralize all the bitcoin mined in 1 person hands.

Therefore, i think Satoshi prefered to sacrifice those premined coins for the sake of a better distribution of coins.

plus he can be more anon

[jbrnt]

He choose to leave the bitcoin scene and disappear. He must also leave his coin behind because they can be traced back to his real identity. I think some of those coins are actually lost. During development, he must have deleted a few wallet files by mistake. At the time, bitcoin was worth nothing and he didn't care. 

[philipma1957]

Because if he had used his huge stash of bitcoin, it would look like a huge premine (around 2 and 3% mined by him, the dev)
Also, the block rewards are supposed to distribute the bitcoin, and not centralize all the bitcoin mined in 1 person hands.

Therefore, i think Satoshi prefered to sacrifice those premined coins for the sake of a better distribution of coins.

So if Satoshi comes to me and wants to unload a 100,000 coin account  and I  give him  200usd (pick a number) a coin.

That is 20,000,000.

I put it in an unmarked swiss account.
I hold the coins until 2020 then cash them out.

So in 2020 everyone will think I am Satoshi.  

Since in reality I am Bill Gates, a Saudi Prince , Donald Trump , Queen of England.  Anyone you choose.  I was just looking for some skin in the game.

My point is the so called first 500,000 to 1,000,000 coins that are supposed to be Satoshi may all belong to anyone above.  Satoshi could have fully offloaded all the coins last year or two years ago. To anyone looking to get into the game.  Terms of the agreement include  a 5 year no cash out of coins  rule.

[AgentofCoin]

Because if he had used his huge stash of bitcoin, it would look like a huge premine (around 2 and 3% mined by him, the dev)
Also, the block rewards are supposed to distribute the bitcoin, and not centralize all the bitcoin mined in 1 person hands.

Therefore, i think Satoshi prefered to sacrifice those premined coins for the sake of a better distribution of coins.

Satoshi died due to natural causes.
His coins are locked for good.

[franky1]

Because if he had used his huge stash of bitcoin, it would look like a huge premine (around 2 and 3% mined by him, the dev)
Also, the block rewards are supposed to distribute the bitcoin, and not centralize all the bitcoin mined in 1 person hands.

Therefore, i think Satoshi prefered to sacrifice those premined coins for the sake of a better distribution of coins.

his hoard is far less than 500k..

even in january-february 2009 other people were mining bitcoin. hal finney for instance..
secondly as they were playing around with the first few versions of the code, they were litterally throwing away the private keys and trying different things while they debugged. so the funds satoshi nakamoto could possibly still have access too is smaller than people think. and if he did 'sacrafice' those remaining available funds or is hoarding for 30years.. no one will know unless we see funds suddenly move..

[BitcoinEXpress]

Because if he had used his huge stash of bitcoin, it would look like a huge premine (around 2 and 3% mined by him, the dev)
Also, the block rewards are supposed to distribute the bitcoin, and not centralize all the bitcoin mined in 1 person hands.

Therefore, i think Satoshi prefered to sacrifice those premined coins for the sake of a better distribution of coins.

@Newbie

Premine means mining BEFORE releasing to the public.

Satoshi released Bitcoin allowing anyone who wanted to mine BTC the opportunity from Block 1 forward.





~BCX~

[tokeweed]

Because if he had used his huge stash of bitcoin, it would look like a huge premine (around 2 and 3% mined by him, the dev)
Also, the block rewards are supposed to distribute the bitcoin, and not centralize all the bitcoin mined in 1 person hands.

Therefore, i think Satoshi prefered to sacrifice those premined coins for the sake of a better distribution of coins.

Yes it's a scam.  Sell your .64324 BTC and get out.

[toinew]

Because if he had used his huge stash of bitcoin, it would look like a huge premine (around 2 and 3% mined by him, the dev)
Also, the block rewards are supposed to distribute the bitcoin, and not centralize all the bitcoin mined in 1 person hands.

Therefore, i think Satoshi prefered to sacrifice those premined coins for the sake of a better distribution of coins.

@Newbie

Premine means mining BEFORE releasing to the public.

Satoshi released Bitcoin allowing anyone who wanted to mine BTC the opportunity from Block 1 forward.





~BCX~

yes public, like a dozen people from a mailing list ? Funny cause you play with the meaning of Premine but then use the word PUBLIC when it was confidential at most. Also calling me newbie makes no point, i could be your father or your mother IRL so stop be a dick because you came here everyday for so long. Go call the first member a newbie too since he also has that rank.

[DannyHamilton]

- snip -
i think Satoshi prefered to sacrifice those premined coins
- snip -

You keep using that word. I do not think it means what you think it means.

[Slark]

Because if he had used his huge stash of bitcoin, it would look like a huge premine (around 2 and 3% mined by him, the dev)
Also, the block rewards are supposed to distribute the bitcoin, and not centralize all the bitcoin mined in 1 person hands.

Therefore, i think Satoshi prefered to sacrifice those premined coins for the sake of a better distribution of coins.

From what I know bitcoin was never premined. It was tested and mined from the beginning. 'Pre Mining' is having generated coins right away from the start without mining.
At that time difficulty were like not existent really, so he could mine a lot of coins in short time. But 'premine' is not the word  I would use to describe these coins.

[pooya87]

Because if he had used his huge stash of bitcoin, it would look like a huge premine (around 2 and 3% mined by him, the dev)
Also, the block rewards are supposed to distribute the bitcoin, and not centralize all the bitcoin mined in 1 person hands.

Therefore, i think Satoshi prefered to sacrifice those premined coins for the sake of a better distribution of coins.

So if Satoshi comes to me and wants to unload a 100,000 coin account  and I  give him  200usd (pick a number) a coin.

That is 20,000,000.

I put it in an unmarked swiss account.
I hold the coins until 2020 then cash them out.

So in 2020 everyone will think I am Satoshi. 

Since in reality I am Bill Gates, a Saudi Prince , Donald Trump , Queen of England.  Anyone you choose.  I was just looking for some skin in the game.

My point is the so called first 500,000 to 1,000,000 coins that are supposed to be Satoshi may all belong to anyone above.  Satoshi could have fully offloaded all the coins last year or two years ago. To anyone looking to get into the game.  Terms of the agreement include  a 5 year no cash out of coins  rule.

many people are monitoring those coins (addresses) for fun, for curiosity, and many other reasons. if any of them starts moving there is going to be mass panic IMO.
and we are not talking about hundreds of bitcoin , the amount is big enough to cause this panic.
and the panic will result in mass dumping

[cbeast]

many people are monitoring those coins (addresses) for fun, for curiosity, and many other reasons. if any of them starts moving there is going to be mass panic IMO.
and we are not talking about hundreds of bitcoin , the amount is big enough to cause this panic.
and the panic will result in mass dumping

200 years from now people will be waiting for the return of Satoshi to airdrop his bitcoins upon the true believers.

[monsanto]

Because if he had used his huge stash of bitcoin, it would look like a huge premine (around 2 and 3% mined by him, the dev)
Also, the block rewards are supposed to distribute the bitcoin, and not centralize all the bitcoin mined in 1 person hands.

Therefore, i think Satoshi prefered to sacrifice those premined coins for the sake of a better distribution of coins.

He probably mined and sold plenty just not the very early coins that people have identified as his. So I think he is doing fine financially. I don't think he "sacrificed" the original stash or lost the keys either. If he tried to sell any of them (other than all in one big dump) he'd crash the price anyway, devaluing the rest of his coins.

[AGD]

1. I think, Satoshi was in fact "instamining" instead of "premining". One has to start supporting the network anyway, so why not the creator of the code himself?

2. OP. This topic has been discussed here countless times. Why opening another thread?

3. Searchfunction

/thread

[LiteCoinGuy]

Because if he had used his huge stash of bitcoin, it would look like a huge premine (around 2 and 3% mined by him, the dev)
Also, the block rewards are supposed to distribute the bitcoin, and not centralize all the bitcoin mined in 1 person hands.

Therefore, i think Satoshi prefered to sacrifice those premined coins for the sake of a better distribution of coins.

Satoshi had much bigger plans for BTC and he will never touch these coins. it is very likely that he destroyed his private keys in my opinion.





@AGD

these discussions will never end  

[Amph]

i have a better theory, i think he didn't use those coin, because he want bitcoin to be more scarse, by removing 1/21 the price should in theory rise more in the future when all coins will be mined

[Kprawn]

I think he did not think it would make such a big splash.... When he realised it, he already lost the private key to the coins he mined as part of the experimental in the beginning.

Then Gavin went to speak to the 3 letter agency and he got spooked and he dropped the whole project.

If he was still around, he would have been in court for most of his days. I think there is no sinister motive behind these coins... It's just a experiment with lost results.

*The he, can be replaced by she / they / it   

[HCLivess]

Satoshi enjoys his life and his job and has no urge in changing it.
Because he is a univeristy teacher and he is one of the most educated people in the world.
In turn, he has strong moral principles.

[BayAreaCoins]

Satoshi didn't lose or delete his private keys.... that is really silly to even consider!

[TinEye]

Satoshi didn't lose or delete his private keys.... that is really silly to even consider!

unless he is died, if he is really died, than he surely lost his key or someone stole it via brute force(not cracking i mean by killing him), otherwise how can you explain the fact that he didn't dumped some of his coin? i know that this cannot be proven, but if he did indeed dumped his coins, this whole would be thread is useless, OP you can't really prove that his coins were not dumped in the market or privately, this point is unsolvable

[Herbert2020]

Because if he had used his huge stash of bitcoin, it would look like a huge premine (around 2 and 3% mined by him, the dev)
Also, the block rewards are supposed to distribute the bitcoin, and not centralize all the bitcoin mined in 1 person hands.

Therefore, i think Satoshi prefered to sacrifice those premined coins for the sake of a better distribution of coins.

i am sure that he is not going to use his large stack of bitcoin and that is not because of what you said. it is because he didn't create bitcoin to make a profit.
you are comparing bitcoin to a random alt(copy)coin with a greedy dev.
and premine is not what you think it is!

[Krang]

I think there's only three possible reasons:

1) Morally he doesn't think it's right to keep them
2) He's dead
3) He's bitcoin's biggest hodler and is going to be the world's first trillionaire  .

[qwk]

Therefore, i think Satoshi prefered to sacrifice those premined coins for the sake of a better distribution of coins.

I think he did not think it would make such a big splash.... When he realised it, he already lost the private key to the coins he mined as part of the experimental in the beginning.

Satoshi had much bigger plans for BTC and he will never touch these coins. it is very likely that he destroyed his private keys in my opinion.

If satoshi really had decided to sacrifice or destroy his coins, he would have done so publicly by spending them to a black-hole address.
He did not. Which only leaves us with two options, either he wants to keep them for whatever reason or he really lost the private keys (which I personally doubt).

these discussions will never end  

Satoshi might end them

[MJK]

Satoshi had much bigger plans for BTC and he will never touch these coins. it is very likely that he destroyed his private keys in my opinion.

If satoshi really had decided to sacrifice or destroy his coins, he would have done so publicly by spending them to a black-hole address.
He did not. Which only leaves us with two options, either he wants to keep them for whatever reason or he really lost the private keys (which I personally doubt).

Maybe he's undecided what he's going to do with them. He doesn't have to spend them on himself or on materialistic things but think about the good that could be done with those coins sometime in the future. If I became a billion or a trillionaire I'd buy myself a nice mansion and a nice car or two but make it my job to try change the world in the little ways that I could. You could build a lot of hospitals, schools and affordable houses with that money for sure.

[afriezalie]

If Mr. Satoshi used his premined bitcoin, bitcoin price will jump down and many bitcoin holders will sell their bitcoin because they don't trust him anymore. People hate developers who use their premined coins.

[johnyj]

A secret weapon

[Demille]

I don't think it's likely that he's dead. He was still active for a bit and never spent them. Does anyone know the value of his coins when he was last active on the forums here?

A secret weapon

He could sure afford one.

[bryant.coleman]

Here are the possible reasons in my opinion (ranked from the most probable one to the least):

1. He is dead
2. He has lost the private keys
3. He is not interested in accumulating wealth
4. He is waiting for BTC to climb to 1BTC = $ 100,000
5. He is in jail
6. He is under surveillance from the tax authorities
7. He is in a coma
8. He is saving them for his retirement
9. He is terminally ill
10.He has already transferred / sold the private keys to someone else.

[eerygarden]

In the year 2141 the first transaction from one of satoshi's addresses will be made. The world will go crazy. The prices which people have become accustomed to paying in BTC will sky rocket. People will die because they can't afford bread any more. People will curse their BTC and blame the generation before for handing down to them this pesky digital nothingness which has been their main motivation in life for so long. Conspiracy theories will be rife, conflict will be at it's maximum. This is life.

If this comes true and you come across this post in 2141, put me on the news and say nice things.

[qwk]

In the year 2141 the first transaction from one of satoshi's addresses will be made. The world will go crazy. The prices which people have become accustomed to paying in BTC will sky rocket. People will die because they can't afford bread any more. People will curse their BTC and blame the generation before for handing down to them this pesky digital nothingness which has been their main motivation in life for so long. Conspiracy theories will be rife, conflict will be at it's maximum. This is life.

If this comes true and you come across this post in 2141, put me on the news and say nice things.

Not gonna happen. Skynet altered the Bitcoin protocol to make satoshi's coins unspendable by sending back cyborgs from 2140 to 2016 to replace the Bitcoin core developers.

[jeannemadrigal2]

Assuming he is alive, the strategy that makes the most sense is to slowly sell them off over time.  No one would be stupid enough to dump them all at once.  OK maybe someone out there would be.  It is strange to think that Satoshi has all this money and would not want to cash it in. 

But if you think that satoshi is just an alias for a group of developers, then things become a little more interesting. 

[eerygarden]

In the year 2141 the first transaction from one of satoshi's addresses will be made. The world will go crazy. The prices which people have become accustomed to paying in BTC will sky rocket. People will die because they can't afford bread any more. People will curse their BTC and blame the generation before for handing down to them this pesky digital nothingness which has been their main motivation in life for so long. Conspiracy theories will be rife, conflict will be at it's maximum. This is life.

If this comes true and you come across this post in 2141, put me on the news and say nice things.

Not gonna happen. Skynet altered the Bitcoin protocol to make satoshi's coins unspendable by sending back cyborgs from 2140 to 2016 to replace the Bitcoin core developers.

Haha. Nice imagination

[Cryptopher]

Here are the possible reasons in my opinion (ranked from the most probable one to the least):

1. He is dead
2. He has lost the private keys
3. He is not interested in accumulating wealth
4. He is waiting for BTC to climb to 1BTC = $ 100,000
5. He is in jail
6. He is under surveillance from the tax authorities
7. He is in a coma
8. He is saving them for his retirement
9. He is terminally ill
10.He has already transferred / sold the private keys to someone else.

Assuming 10 then repeat the above for the buyer?

[BADecker]

Here are the possible reasons in my opinion (ranked from the most probable one to the least):

1. He is dead
2. He has lost the private keys
3. He is not interested in accumulating wealth
4. He is waiting for BTC to climb to 1BTC = $ 100,000
5. He is in jail
6. He is under surveillance from the tax authorities
7. He is in a coma
8. He is saving them for his retirement
9. He is terminally ill
10.He has already transferred / sold the private keys to someone else.

Assuming 10 then repeat the above for the buyer?

He is someone in one of the super rich families. He doesn't like the ways the super rich are handling the world fiat. But being only one, there was no other way to bring about changes.

The so-called Satoshi Nakamoto doesn't need any more wealth. His developing of Bitcoin was simply a way to change the course of the stupid things that the rest of the super rich are doing with world finances.

[ransomer]

I think there are only a few realistic options: Super-rich or dead. He did not forget them, and he did not get hacked. And he did not just start this thinking it would not be anything really and therefore was sloppy... no. he was not sloppy. He thought this through ahead of time - why else would he have managed to stay anonymous? And if he had been hacked the hackers would be more likely to spend huge amounts etc.

I actually have thought about whether 'he' is a group. Like Samsung, Toyota etc. forming a joint venture around this idea. The more I think about it the more I doubt it - it would be very unlikely that something would not have been revealed by now had there been about involved. This is standard knowledge for any type of group and secrecy. Criminals in groups are almost impossible to not get revealed - while individual villains can keep hidden much easier.

At the end of the day.. I cannot decide whether I think he is super-rich or dead.   

[chrisvl]

Because if he had used his huge stash of bitcoin, it would look like a huge premine (around 2 and 3% mined by him, the dev)
Also, the block rewards are supposed to distribute the bitcoin, and not centralize all the bitcoin mined in 1 person hands.

Therefore, i think Satoshi prefered to sacrifice those premined coins for the sake of a better distribution of coins.

How you can be sure for that ??

[Amph]

also none is telling us that he didn't dump at 1200 or whatever other good price, there is no proof of that, he can dumb privately(off market) and no one will ever know, maybe small portion at time, or on exchange always with small portion

there isn't a really good reason for him to not dump, too attached to bitcoin? liberalist? bullshit, when big money come in play you forgot all the rest, especially if you were not a rich person

[NyeFe]

I vividly remember a quote from Satoshi, with the meaning "every coin lost is a gift for the community..." In that case it's highly possible that he dumped the coins, to give us a gift long after his departure [...]

[Kprawn]

Image if we wake up one morning and we see the headlines on the news... "Inventor of Bitcoin dumped his 1 000 000 hoard and crashed the price"

We have seen what impact the Silkroad coins had on the price, and it took a while for the price to increase after those coins entered the market.

If Satoshi's coins was dumped on the exchanges, it would kill the price for sure. {Over supply} 

[bryant.coleman]

Here are the possible reasons in my opinion (ranked from the most probable one to the least):

1. He is dead
2. He has lost the private keys
3. He is not interested in accumulating wealth
4. He is waiting for BTC to climb to 1BTC = $ 100,000
5. He is in jail
6. He is under surveillance from the tax authorities
7. He is in a coma
8. He is saving them for his retirement
9. He is terminally ill
10.He has already transferred / sold the private keys to someone else.

Assuming 10 then repeat the above for the buyer?

If #10 is true, then #1 to #9 are possibilities, but the ranking will change. According to the estimates by some Bitcoin experts, Satoshi is believed to be holding a total of BTC980,000. He might have sold the private keys to some billionaire in 2013 or 2014, and that person might be waiting for Bitcoin to climb to new peaks, before exchanging them for fiat.

[Hollingsworth]

Because if he had used his huge stash of bitcoin, it would look like a huge premine (around 2 and 3% mined by him, the dev)
Also, the block rewards are supposed to distribute the bitcoin, and not centralize all the bitcoin mined in 1 person hands.

Therefore, i think Satoshi prefered to sacrifice those premined coins for the sake of a better distribution of coins.

Yes it's a scam.  Sell your .64324 BTC and get out.

lmao


The Dude abides...

[Hollingsworth]

I remember a few years back,  a news crew was pursuing this Japanese fellow who they thought was the enigmatic Satoshi. He denied the assertion that he was Satoshi, albeit very humbly and appeared to be living a very middle class lifestyle.

I choose to believe he is the One, perhaps wishfully. If this middle aged, briefcase carrying, and Toyota Camry driving software engineer is in fact the One...than he is a fitting epitaph... Just a humble Joe, representing a coin of the people and for the people.

H.

[ransomer]

I remember a few years back,  a news crew was pursuing this Japanese fellow who they thought was the enigmatic Satoshi. He denied the assertion that he was Satoshi, albeit very humbly and appeared to be living a very middle class lifestyle.

I choose to believe he is the One, perhaps wishfully. If this middle aged, briefcase carrying, and Toyota Camry driving software engineer is in fact the One...than he is a fitting epitaph... representing a coin of the people and for the people. Not a ponzi scheme, not a government conspiracy.

H.

Was it San Francisco he lived in?

[Hollingsworth]

I remember a few years back,  a news crew was pursuing this Japanese fellow who they thought was the enigmatic Satoshi. He denied the assertion that he was Satoshi, albeit very humbly and appeared to be living a very middle class lifestyle.

I choose to believe he is the One, perhaps wishfully. If this middle aged, briefcase carrying, and Toyota Camry driving software engineer is in fact the One...than he is a fitting epitaph... representing a coin of the people and for the people. Not a ponzi scheme, not a government conspiracy.

H.

Was it San Francisco he lived in?

No, hes in a suburb of LA, his last name is Nakomoto. Just Google "interview with bitcoin inventor"

[Hazir]

I vividly remember a quote from Satoshi, with the meaning "every coin lost is a gift for the community..." In that case it's highly possible that he dumped the coins, to give us a gift long after his departure [...]

But the problem is we don't know if Satoshi abandoned his coins, maybe he is waiting for bitcoin to reach higher price, or he is still in control of the private key and have perfect access to his coins.
For us these coins are not lost at all. We are just in the dark about who owns it now. And I honestly doubt that anyone would sacrifice so much money just to 'gift' community.

[ransomer]

I vividly remember a quote from Satoshi, with the meaning "every coin lost is a gift for the community..." In that case it's highly possible that he dumped the coins, to give us a gift long after his departure [...]

But the problem is we don't know if Satoshi abandoned his coins, maybe he is waiting for bitcoin to reach higher price, or he is still in control of the private key and have perfect access to his coins.
For us these coins are not lost at all. We are just in the dark about who owns it now. And I honestly doubt that anyone would sacrifice so much money just to 'gift' community.

It's not hard to believe. Bill Gates is giving away most of his fortune... as are many other people. And it makes some sense that Satoshi is proud of 'his' invention. He knows that this is his historical legacy. If Bitcoin becomes a real alternative to FIAT then he will be remembered 1000 years from now. Longer than perhaps any other millionaire or billionaire from our time. Just having money is not really worth being remember for.

[Scamalert]

It is pretty clear that if he used his bitcoins then will it have a big impact on the bitcoin price. The market cannot absorbe 500K bitcoins, they price will colapps and his project will be in vain.
I think that reward from block 0 will never be touched, its a historical milestone.

[ransomer]

It is pretty clear that if he used his bitcoins then will it have a big impact on the bitcoin price. The market cannot absorbe 500K bitcoins, they price will colapps and his project will be in vain.
I think that reward from block 0 will never be touched, its a historical milestone.

The Winklevos twins how many do they have? 150.000?

[Amph]

It is pretty clear that if he used his bitcoins then will it have a big impact on the bitcoin price. The market cannot absorbe 500K bitcoins, they price will colapps and his project will be in vain.
I think that reward from block 0 will never be touched, its a historical milestone.

well he could have dumped small portion per day, like 10k or more, he may be the responsabile of the 1200 crash, no one will never know

i still think that if he dumped something, he didn't dumped everything, he know that bitcoin has a greater potential than a simply 1200 value

[jorjito25]

Catch 22. Bitcoin is premined, but without that premine bitcoin would not exist.

Reason for not touching the funds probably have to do with his deep wish to remain anonymous. Imagine all the threads here if some his coins suddenly moved after six years.

[qwk]

Catch 22. Bitcoin is premined, but without that premine bitcoin would not exist.

Reason for not touching the funds probably have to do with his deep wish to remain anonymous. Imagine all the threads here if some his coins suddenly moved after six years.

That's where the real catch-22 starts. As long as he doesn't touch his coins, they're (potentially) detrimental to the value of Bitcoin, since some people might stay away from a currency where a significant percentage of money supply is controlled by just one entity. If he touches them, though, that might have an even more detrimental effect with people expecting a huge drop

[eerygarden]

Its best just to assume that he will return for them one day.

[redsn0w]

Because if he had used his huge stash of bitcoin, it would look like a huge premine (around 2 and 3% mined by him, the dev)
...

Which premine? I don't think it was a premine... because all the source was released so technically it was not really a premine (the problem was the lack of confidence by a lot of person).

[scarsbergholden]

Here are the possible reasons in my opinion (ranked from the most probable one to the least):

1. He is dead
2. He has lost the private keys
3. He is not interested in accumulating wealth
4. He is waiting for BTC to climb to 1BTC = $ 100,000
5. He is in jail
6. He is under surveillance from the tax authorities
7. He is in a coma
8. He is saving them for his retirement
9. He is terminally ill
10.He has already transferred / sold the private keys to someone else.

lmao oh god, 

11. He has a lot of child support and he doesnt want the court to know he has bitcoins
12. He is scare that he's wife might take half of his bitcoin and leave him

not bad i would say #10 there is always private deals going on.

[kokojie]

It is pretty clear that if he used his bitcoins then will it have a big impact on the bitcoin price. The market cannot absorbe 500K bitcoins, they price will colapps and his project will be in vain.
I think that reward from block 0 will never be touched, its a historical milestone.

The Winklevos twins how many do they have? 150.000?

Some guy mined on company server early in the game, and have like 330k Bitcoins. I wonder what happened to him.

[Mowcore]

Some guy mined on company server early in the game, and have like 330k Bitcoins. I wonder what happened to him.

[Amph]

It is pretty clear that if he used his bitcoins then will it have a big impact on the bitcoin price. The market cannot absorbe 500K bitcoins, they price will colapps and his project will be in vain.
I think that reward from block 0 will never be touched, its a historical milestone.

The Winklevos twins how many do they have? 150.000?

Some guy mined on company server early in the game, and have like 330k Bitcoins. I wonder what happened to him.

it was the guy were the police came into his house, he was talking about his story here on bitcointalk, happened in 2012, i can't find the thread now, but he was holding more than 200k coins

[ransomer]

It is pretty clear that if he used his bitcoins then will it have a big impact on the bitcoin price. The market cannot absorbe 500K bitcoins, they price will colapps and his project will be in vain.
I think that reward from block 0 will never be touched, its a historical milestone.

The Winklevos twins how many do they have? 150.000?

Some guy mined on company server early in the game, and have like 330k Bitcoins. I wonder what happened to him.

it was the guy were the police came into his house, he was talking about his story here on bitcointalk, happened in 2012, i can't find the thread now, but he was holding more than 200k coins

Why did the police come, and what happened to his coin?

[Coogan]

I vividly remember a quote from Satoshi, with the meaning "every coin lost is a gift for the community..." In that case it's highly possible that he dumped the coins, to give us a gift long after his departure [...]

Damn, really? Do you have the source for this? If he did say this then I guess he might have purposely lost his coins for the good of the community, though I would like to think he still has them safe somewhere and would use them for charitable means at some point.

[Scamalert]

It is pretty clear that if he used his bitcoins then will it have a big impact on the bitcoin price. The market cannot absorbe 500K bitcoins, they price will colapps and his project will be in vain.
I think that reward from block 0 will never be touched, its a historical milestone.

well he could have dumped small portion per day, like 10k or more, he may be the responsabile of the 1200 crash, no one will never know

i still think that if he dumped something, he didn't dumped everything, he know that bitcoin has a greater potential than a simply 1200 value

Most of satoshi's coins are completely untouched.
Just an example, try examine block 0 - 2000... most are untouched.
Teoretical could he have sold the private keys, but that is not a "dump" since they have never been on the exhange.

[BillyBobZorton]

Maybe he mined all those coins to test the software out in a real environment. Lets remember back in the day everything was extremely new. Now no one needs to premine to test anything, but back in the day it wasn't the same. Because of this he may have purposely destroyed the private keys to those coins, which only makes Bitcoin more valuable since it shrinks the total supply by 1million+.
Also let's not forget back in the day all those coins were worthless.

[ACCTseller]

Therefore, i think Satoshi prefered to sacrifice those premined coins for the sake of a better distribution of coins.

I think he did not think it would make such a big splash.... When he realised it, he already lost the private key to the coins he mined as part of the experimental in the beginning.

Satoshi had much bigger plans for BTC and he will never touch these coins. it is very likely that he destroyed his private keys in my opinion.

If satoshi really had decided to sacrifice or destroy his coins, he would have done so publicly by spending them to a black-hole address.
He did not. Which only leaves us with two options, either he wants to keep them for whatever reason or he really lost the private keys (which I personally doubt).

Satoshi kept his anonymity in mind too much to have likely made a mistake that resulted in him destroying his keys. I would be personally surprised if he still doesn't have at least three copies of his private keys in his control currently.

The fact is that Satoshi wants to keep his identity secret and spending his coins would most likely cause his identity to leak. This is especially true in regards to the earliest coins that he mined, he might be able to sell some of his later coins and only raise a few eyebrows but have nothing concrete about the coins being from satoshi.

Also if satoshi were to start selling his coins, it would likely cause a massive drop in the price of bitcoin because people might assume that he will sell a large portion of his coins at once. Even if he were to get the market to believe that he will only sell a small portion of his bitcoin at a time, it would still be a large amount of additional supply that the market might not be able to handle. I might predict that satoshi would decide to start selling some of his coins after the next few block reward halvings when little additional supply enters into the market from the miners.

[fox19891989]

Because if he had used his huge stash of bitcoin, it would look like a huge premine (around 2 and 3% mined by him, the dev)
Also, the block rewards are supposed to distribute the bitcoin, and not centralize all the bitcoin mined in 1 person hands.

Therefore, i think Satoshi prefered to sacrifice those premined coins for the sake of a better distribution of coins.

satoshi only wanted to design it and he didn't expect earn huge amount of money from bitcoin, so he was unhappy to see so many people are speculating bitcoin, so that's why he never sold any of his bitcoin.

The other reason may be satoshi is dead, or CIA/FBI wants him, so he has to keep anonymous, there are so many scam cases and money laundry cases of bitcoin, I am pretty sure FBI will arrest him if he is not anon.

[Herbert2020]

Therefore, i think Satoshi prefered to sacrifice those premined coins for the sake of a better distribution of coins.

I think he did not think it would make such a big splash.... When he realised it, he already lost the private key to the coins he mined as part of the experimental in the beginning.

Satoshi had much bigger plans for BTC and he will never touch these coins. it is very likely that he destroyed his private keys in my opinion.

If satoshi really had decided to sacrifice or destroy his coins, he would have done so publicly by spending them to a black-hole address.
He did not. Which only leaves us with two options, either he wants to keep them for whatever reason or he really lost the private keys (which I personally doubt).

Satoshi kept his anonymity in mind too much to have likely made a mistake that resulted in him destroying his keys. I would be personally surprised if he still doesn't have at least three copies of his private keys in his control currently.

The fact is that Satoshi wants to keep his identity secret and spending his coins would most likely cause his identity to leak. This is especially true in regards to the earliest coins that he mined, he might be able to sell some of his later coins and only raise a few eyebrows but have nothing concrete about the coins being from satoshi.

Also if satoshi were to start selling his coins, it would likely cause a massive drop in the price of bitcoin because people might assume that he will sell a large portion of his coins at once. Even if he were to get the market to believe that he will only sell a small portion of his bitcoin at a time, it would still be a large amount of additional supply that the market might not be able to handle. I might predict that satoshi would decide to start selling some of his coins after the next few block reward halvings when little additional supply enters into the market from the miners.

if satoshi touches any of those coins there will be huge panic in the market. and as the result many of bitcoin holders will dump their coins in fear of the price falling . and that will cause the price to go down, then as a chain reaction everybody starts dumping and soon enough we will see bitcoin die.!

[BitmoreCoin]

Because if he had used his huge stash of bitcoin, it would look like a huge premine (around 2 and 3% mined by him, the dev)
Also, the block rewards are supposed to distribute the bitcoin, and not centralize all the bitcoin mined in 1 person hands.

Therefore, i think Satoshi prefered to sacrifice those premined coins for the sake of a better distribution of coins.

It is not a premine, just so many people did not know it.

[dothebeats]

If you read the whitepaper, bitcoin's concept is generally against the greediness and control of a central authority. Satoshi doesn't want people to be controlled anymore, so he created a trustless cash system wherein you don't have to trust somebody in order to keep and spend your coins safely and securely. Given the words from the whitepaper, Satoshi is a man of principles, and he also once said 9non-verbatim) that every coin that is lost will only add to the scarcity of the coin hence, it will grow on value. The coins he had mined, I think, were somehow left unspent on purpose so as to add up to the scarcity of the coin, though I will not remove my hints of him/her being dead right now.