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

[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