Gavin believes Craig Wright is Satoshi - Effect on BTC price

[fedmahnkassad]

After Gavin confirmed that Craig Wright was Satoshi, I believe most people will take this as the truth. What does it mean for the $1 bil BTC address, and what effect will it have on the price short and mid term?

The initial reaction seams negative with BTC dropping about $8 so far.

http://gavinandresen.ninja/satoshi

http://financialcryptography.com/mt/archives/001593.html


Edit: People are now saying that Gaving might have been hacked https://twitter.com/petertoddbtc/status/727078284345917441

Edit2: Gavin says he was not hacked.

[MatTheCat]

After Gavin confirmed that Craig Wright was Satoshi, I believe most people will take this as the truth. What does it mean for the $1 bil BTC address, and what effect will it have on the price short and mid term?

The initial reaction seams negative with BTC dropping about $8 so far.

http://gavinandresen.ninja/satoshi

http://financialcryptography.com/mt/archives/001593.html

I don't quite understand why Bitcoin has to dump, but it has dumped/is dumping and I can therefore only presume, that there will be a shit ton more to come when the US gets out their beds and reads the news.

[fedmahnkassad]

After Gavin confirmed that Craig Wright was Satoshi, I believe most people will take this as the truth. What does it mean for the $1 bil BTC address, and what effect will it have on the price short and mid term?

The initial reaction seams negative with BTC dropping about $8 so far.

http://gavinandresen.ninja/satoshi

http://financialcryptography.com/mt/archives/001593.html

I don't quite understand why Bitcoin has to dump, but it has dumped/is dumping and I can therefore only presume, that there will be a shit ton more to come when the US gets out their beds and reads the news.

Mostly because a lot of people believed that the $1 bil BTC would never be spend, but now the likelihood of them being spent increased.

[MatTheCat]

Mostly because a lot of people believed that the $1 bil BTC would never be spend, but now the likelihood of them being spent increased.

But everyone knew that some entity out there, could have spent those 1 Million BTC, at anytime.

That fact hasn't changed.

But, if in doubt, keep out.

News events like this provide great fuel for whales who might want to bring the market down into thier RLZs, and there is a shit ton of margin longs sitting on BFX just screaming "margin call". I don't have a fucking clue where this will lead, cos my own logic tells me that nothing has really changed with regards to Bitcoin. With that said, I did scrap my plans to buy Bitcoin at $440, due to fears off market over reaction, and I guess that is me, playing my small part in this market over reaction. I wonder how people might 'over react' who are holding all those margin long positions?

BTC is a very hot potatoe right now. Too hot to touch.

[Ibian]

In a week nobody will care. As usual.

[fedmahnkassad]

People now saying Gavin might have been hacked...

[belmonty]

People now saying Gavin might have been hacked...

Until we get simple proof we can check ourselves we don't know if it's a scam or not. This reddit comment sums up how I feel. I'll be throwing tomatoes without hard cryptographic proof within two days.

https://www.reddit.com/r/Bitcoin/comments/4hflr3/craig_wrights_signature_is_worthless/d2pgjut

I'm giving Andresen, Matonis and Grigg the benefit of the doubt for 48 hours. No hard cryptographic proof after that I'll be throwing tomatoes

[MatTheCat]

People now saying Gavin might have been hacked...

Have to say...this Satoshi story is setting off my untruth alarm bells, just like it did the first time around....


....but then again, I am not exactly well placed to know for sure, or to even know what it was that Craig Wright done to 'prove' that he is Satoshi Nakamoto.

[BitHodler]

There is literally nothing that can confirm Craig Wright is in fact Satoshi.

And those who panic sell just because of this are even dumber.

At least it offers people a good chance to enter the market at decent prices.

[Denker]

The thread title is missleading.
Gavin did not confirmed that Wright is Satoshi. He wrotes in his blog to believe that Wright is Satoshi.
And to be honest Gavin can believe as much as he wants.
As long as Wright does not sign a message or moves one of the coins he can claim to be Satoshi as long as he wants.
I doubt it very strongly. And if Gavin wasn't hacked and decided to play this hoax together with Wright he deserves some serious kicks in his suspicious butt. His commit access had been already revoked.Good!

[kwukduck]

Tell me how youbhack or fake a digital bitcoin/pgp signature... Roght, you don't. It's time all you nay sayers in denial accept and praise the founder of bitcoin. You all respected him before he got a name, now you know the face behind it y'all go boo-hoo?
Sad... Really sad...

[~BitSy~]

usually when things like this happens, there will be slight panics in the short term basis but as we go along everything will stable again however the recent crash might not be correlated to this news and rather mor of a normal market manipulation that actually happened last week as well but it was short term and eventually was stable until it began again.

[Tzupy]

IMO the creator of bitcoin was Dave Kleiman, and the 1 million BTC are not yet under the control of Craig Wright, who is taking more credit than he deserves.

[--Encrypted--]

Tell me how youbhack or fake a digital bitcoin/pgp signature... Roght, you don't. It's time all you nay sayers in denial accept and praise the founder of bitcoin. You all respected him before he got a name, now you know the face behind it y'all go boo-hoo?
Sad... Really sad...

he didn't hack or fake a new bitcoin/pgp signature. what he did is taking an input script from years old transaction, convert it to base64, and added a line of text which is not a part of the signature. and somehow fooled gavin with it.

here's hoping that most bitcoiners won't be fooled also.

[gentlemand]

Well, it sounds like bilge to me and as ever in Bitcoinland it's borderline impossible to figure out what's actually going on. It would be nice to get this 1 million coin thing settled in peoples' heads once and for all though. That's always been a needless boogeyman.

[Amph]

he said in the interview that he was forced to get out of his limbo, i'm wondering who forced him to get out and say that he is supposedly, satoshi

[Syke]

After Gavin confirmed that Craig Wright was Satoshi, I believe most people will take this as the truth. What does it mean for the $1 bil BTC address, and what effect will it have on the price short and mid term?

The initial reaction seams negative with BTC dropping about $8 so far.

http://gavinandresen.ninja/satoshi

http://financialcryptography.com/mt/archives/001593.html


Edit: People are now saying that Gaving might have been hacked https://twitter.com/petertoddbtc/status/727078284345917441

If you don't see a bitcoin-signed message from the genesis address (1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa) then it's not Satoshi. I don't see that. Craig is not Satoshi.

[bitconerian]

Tell me how youbhack or fake a digital bitcoin/pgp signature... Roght, you don't. It's time all you nay sayers in denial accept and praise the founder of bitcoin. You all respected him before he got a name, now you know the face behind it y'all go boo-hoo?
Sad... Really sad...

I don't really mind if Satoshi turns out to be a bankrupt tax cheat, but Australian?! FFS!

[RodeoX]

Anyone who trades based on this news is a pretty bad trader. I have no clue who invented most of the technology I use today. And it certainly does not change the protocol to know who wrote the protocol, no more than the answer to a math problem is determined by who is holding the calculator.

[Foxpup]

It's time all you nay sayers in denial accept and praise the founder of bitcoin.

Behold, the Opposite Oracle has spoken. If kwukduck says it, it must be false. Hoax confirmed (as if it wasn't already).