Alts market if C. Wright moves coins from early blocks

[freshman777]

The 1 million "Satoshi owned" bitcoins have been priced in by the market to stay put forever. Craig "Satoshi" Wright said he was going to move them, what are your opinions what would happen to altcoins prices if he stands by his word?

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[kiklo]

The 1 million "Satoshi owned" bitcoins have been priced in by the market to stay put forever. Craig "Satoshi" Wright said he was going to move them, what are your opinions what would happen to altcoins prices if he stands by his word?

If it tanks BTC, I will actually buy a bunch of BTC and immediately buy my favorite ALTS with it, since it will decrease their price verses FIAT.  
But I have more faith in my favorite Alt than BTC , no matter what happens with Wright.

 

[yelllowsin]

Craig "Satoshi" Wright said he was going to move them

hahah this guy is so funny lol. He doesn't need to move any coin to prove it, just sign the fcking message if he has the prive keys  . The excuse he gave for not moving the coins was because they were held by a "trust" is just hilarious. He must think everyone here is such a noob on crypto lmao

[The Sceptical Chymist]

So it's a hoax then? 

You know, I don't think the market has priced in Satoshi's block as infinitely unspendable.  I think it's quite the reverse, but my level of certainty isn't high on this one and it will definitely be interesting to see what happens.

[Za1n]

The 1 million "Satoshi owned" bitcoins have been priced in by the market to stay put forever. Craig "Satoshi" Wright said he was going to move them, what are your opinions what would happen to altcoins prices if he stands by his word?

I believe the claimed amount of coins Satoshi holds is somewhere around 600-700k of BTC. While this is a lot of coins, with the upcoming halving of the mining subsidy, from 25 coins/block to 12.5 coins/block, the supply hitting the market will be reduced by roughly 1,800 BTC/day, which works out to 657,000 BTC/year.

This would pretty much would erase the effects of any mass dumping within a year. While this may be catastrophic for some people, it would by no means be the end of Bitcoin and within a year or two it would be stronger then ever as the sword of Damascus would have finally be lifted away.

[Ayers]

The 1 million "Satoshi owned" bitcoins have been priced in by the market to stay put forever. Craig "Satoshi" Wright said he was going to move them, what are your opinions what would happen to altcoins prices if he stands by his word?

I believe the claimed amount of coins Satoshi holds is somewhere around 600-700k of BTC. While this is a lot of coins, with the upcoming halving of the mining subsidy, from 25 coins/block to 12.5 coins/block, the supply hitting the market will be reduced by roughly 1,800 BTC/day, which works out to 657,000 BTC/year.

This would pretty much would erase the effects of any mass dumping within a year. While this may be catastrophic for some people, it would by no means be the end of Bitcoin and within a year or two it would be stronger then ever as the sword of Damascus would have finally be lifted away.

i've read from other member that he have only 200-300k not anything near that crazy amount, but still enough to cause a panic selling fest, 200k is a lot of coins, but my question is, why he would dump now when he did not dump before at $1200, so i'm not worried about him dunping now

[Dekker3D]

The 1 million "Satoshi owned" bitcoins have been priced in by the market to stay put forever. Craig "Satoshi" Wright said he was going to move them, what are your opinions what would happen to altcoins prices if he stands by his word?

I believe the claimed amount of coins Satoshi holds is somewhere around 600-700k of BTC. While this is a lot of coins, with the upcoming halving of the mining subsidy, from 25 coins/block to 12.5 coins/block, the supply hitting the market will be reduced by roughly 1,800 BTC/day, which works out to 657,000 BTC/year.

This would pretty much would erase the effects of any mass dumping within a year. While this may be catastrophic for some people, it would by no means be the end of Bitcoin and within a year or two it would be stronger then ever as the sword of Damascus would have finally be lifted away.

i've read from other member that he have only 200-300k not anything near that crazy amount, but still enough to cause a panic selling fest, 200k is a lot of coins, but my question is, why he would dump now when he did not dump before at $1200, so i'm not worried about him dunping now

He could sell at the peak of the price hike once halving hits. Or maybe he lost/forgot the key

[TPTB_need_war]

Craig "Satoshi" Wright said he was going to move them

hahah this guy is so funny lol. He doesn't need to move any coin to prove it, just sign the fcking message if he has the prive keys

Something is weird. He provided a message and a signature, but there's nothing in the message to indicate that he signed it himself, or when it was signed. It could have been signed months or years ago and there's no way to prove otherwise.

To understand what is really going on, you need to read carefully what Craig Wright has always said and continues to reiterate:

In his initial blog post, Wright noted that “Satoshi is dead... but this is only the beginning.” He also said that he would follow up with a more detailed mathematical explanation for the revelation. Now, the world will likely have to wait for “the coming days”—however long that may be—for more clues.

If I sign Craig Wright, it is not the same as if I sign Craig Wright, Satoshi.

I think this is true, but in my heart I wish it wasn’t.

Since those early days, after distancing myself from the public persona that was Satoshi,

Satoshi is dead.

But this is only the beginning.

You need to remember that Craig Wright has never claimed he is Satoshi Nakamoto. Instead, he has claimed that his former colleague (who died) was Satoshi. He claims he was backing his colleague's the development of Bitcoin.

This Australian Says He and His Dead Friend Invented Bitcoin

David Kleiman, Craig Wright's friend more likely Satoshi Nakamoto

OK so this might get a little meandering but I keep finding tidbits of David Kleiman's life that makes him a far more likely candidate for Satoshi than Wright. So here are some in no specific order.

Remember that Craig Wright had obtained funding for and was running a the largest Supercomputer in Australia. So what Craig has ostensibly done is he is used supercomputer resources to find the inverse of a hash function and then used one of Satoshi old transactions to pretend he has the private key:

The implication is that either Craig Wright has stumbled upon an infinitesimally rare occurrence of an SHA256 collision, or that he had used the signature from block 258 to reverse engineer a hash (the first shown in his blog demonstration) and hoped that nobody would notice. ycombinator user JoukeH noticed.

Realize that he has probably promised to endorse Andresen's block chain scaling preferences and thus probably why Gavin wants him to be Satoshi:

Andresen’s only attempt at an explanation for Wright’s bizarre behavior, he says, is an ambivalence about definitively revealing himself after so many years in hiding. “I think the most likely explanation is that … he really doesn’t want to take on the mantle of being the inventor of Bitcoin,” says Andresen, who notes that his own credibility is at stake, too. “Maybe he wants things to be really weird and unclear, which would be bad for me.”

That uncertainty, Andresen says, seemed to be evident in Wright’s manner at the time of their demonstration. Andresen describes Wright as seeming “sad” and “overwhelmed” by the decision to come forward. “His voice was breaking.

Remember that after his death, David Kleiman's family recovered his USB flash drive and gave it to Craig Wright. Thus likely Craig Wright may have an unpublished transaction but not the actual private key. So he may be about to fool the world into thinking he is Satoshi, or making some proof that he was the man behind the man who was the real Satoshi.

[freshman777]

Remember that after his death, David Kleiman's family recovered his USB flash drive and gave it to Craig Wright.

You present this as a fact, it is not but let's pretend this is true, sure the markets can't ignore the possession of a large stash of Bitcoins by one man, the coins that are thought to be lost, and there will be a dump if only temporary. How can this affect the alts market, can the alts market finally disconnect from the price of Bitcoin, loosen the correlation?

[TPTB_need_war]

No - what Craig did was grab an existing signature used by Satoshi and pretend he had created it to sign a document by Sartre (which is fraud and even Gavin is not sure what on earth to make of that).

And he *is* claiming to be Satoshi (which is why he asked Gavin to come and *verify* his claim).

Also - why are you posting the exact same thing in multiple topics?

Re-read my post, you didn't seem to understand it. Craig has not said he is Satoshi. Find a quote where he said that. You won't. He has always said it was his colleague.

And with his access to a supercomputer, it is plausible he was able to reverse the hash in order to find a text that matched the signature that was already on the blockchain. Without that explanation, then he must have the private key! You seem to not understand the technology. 

I am replying to every topic where my post is relevant. I am not the one who created so many duplicate topics.

I am replying to every topic where my post is relevant. I am not the one who created so many duplicate topics.

It isn't relevant and it is just spamming (you could start your own topic of course).

And if he was saying that he just knew Satoshi and is not Satoshi then why does Gavin come out this "meeting" saying that he is Satoshi (surely he would  have told Gavin it was his friend and not him).

You are just butthurt.

It is very relevant.

Craig has played Gavin. He knows Gavin needs support for his preferences for the block scaling debate.

[kiklo]

Want to see something Funny:

Satoshi Nakamoto

(Urban Translation)    (Japanese Translation)   (Japanese Translation)  (Urban Translation)
Sato                           SHI                               Naka                         moto
To Fake Out                Death                             Inside                       Motivator


http://www.urbandictionary.com/define.php?term=sato

http://www.kanjijapanese.com/en/dictionary-japanese-english/shi
Also included under Shi
6.    shi-aie-    CIA
7.    shi-aie-    Central Intelligence Agency

http://www.kanjijapanese.com/en/dictionary-japanese-english/Naka

http://www.urbandictionary.com/define.php?term=moto

Never let it be said the Clowns In Action (CIA), don't have a sense of humor. 

 

FYI:
Oh Crap, who is that at the door?

[r0ach]

Makes more sense for Satoshi Nakamoto to be an anagram of four people.  There's no telling what the Craight Wright thing is.  Might just be western intelligence trying to hijack bitcoin since Wright seems to have some govt ties.  Wasn't Craight Wright writing a book the same timie he was supposedly making Bitcoin?  Who the hell can create Bitcoin and a book at the same time?

[bitbitch]

The 1 million "Satoshi owned" bitcoins have been priced in by the market to stay put forever. Craig "Satoshi" Wright said he was going to move them, what are your opinions what would happen to altcoins prices if he stands by his word?

I believe the claimed amount of coins Satoshi holds is somewhere around 600-700k of BTC. While this is a lot of coins, with the upcoming halving of the mining subsidy, from 25 coins/block to 12.5 coins/block, the supply hitting the market will be reduced by roughly 1,800 BTC/day, which works out to 657,000 BTC/year.

This would pretty much would erase the effects of any mass dumping within a year. While this may be catastrophic for some people, it would by no means be the end of Bitcoin and within a year or two it would be stronger then ever as the sword of Damascus would have finally be lifted away.

the timing of Wright's move right before the halving is the most interesting part of this story. he and his associates are up to something.

[SwedishGirl]

The 1 million "Satoshi owned" bitcoins have been priced in by the market to stay put forever. Craig "Satoshi" Wright said he was going to move them, what are your opinions what would happen to altcoins prices if he stands by his word?

I believe the claimed amount of coins Satoshi holds is somewhere around 600-700k of BTC. While this is a lot of coins, with the upcoming halving of the mining subsidy, from 25 coins/block to 12.5 coins/block, the supply hitting the market will be reduced by roughly 1,800 BTC/day, which works out to 657,000 BTC/year.

This would pretty much would erase the effects of any mass dumping within a year. While this may be catastrophic for some people, it would by no means be the end of Bitcoin and within a year or two it would be stronger then ever as the sword of Damascus would have finally be lifted away.

the timing of Wright's move right before the halving is the most interesting part of this story. he and his associates are up to something.

I agree, the whole timing of this is quite interesting. I am also inclined to think that Wright knew who Satoshi was and that the real Satoshi is probably dead. Otherwise why bother with the whole thing if the real Satoshi can just go "I am not Craig Wright".

[freshman777]

If Wright is Satoshi and we know from his interview he is a large blocker, the timing is right to take control of Bitcoin from Blockstream and give it back to the community.

[alyssa85]

The 1 million "Satoshi owned" bitcoins have been priced in by the market to stay put forever. Craig "Satoshi" Wright said he was going to move them, what are your opinions what would happen to altcoins prices if he stands by his word?

He'll move them extremely slowly - remember he has capital gains tax to pay if and when he sells them, so it will be in tiny amounts. So I don't think the Bitcoin market will tank as a result.

The biggest threat to bitcoin is not this chap moving his coins. It's the increasingly toxic civil war they were having before he surfaced, and which is still going on.

[Red-Apple]

The 1 million "Satoshi owned" bitcoins have been priced in by the market to stay put forever. Craig "Satoshi" Wright said he was going to move them, what are your opinions what would happen to altcoins prices if he stands by his word?

your information is just mis-information.
first of all he is not satoshi until he proves it, so stop calling him that name. he is just someone who claims to be satoshi and we have yet to see if her is telling the truth or not.

second he never said i am going to move 1 million coins, he said coins from early blocks. early blocks can be #10 or #500

for all i know this will be like him signing a message!

[mobnepal]

Price for most of the altcoins are related to market price of bitcoin so whatever we may see rise of altcoin price in terms of bitcoin, if we calculate price of those coins in USD it will be in same range as before. So the only coin that may get benifited from this move will be ethereum or other coins which have coin-USD pairs in trading platform.

[freshman777]

The 1 million "Satoshi owned" bitcoins have been priced in by the market to stay put forever. Craig "Satoshi" Wright said he was going to move them, what are your opinions what would happen to altcoins prices if he stands by his word?

your information is just mis-information.
first of all he is not satoshi until he proves it, so stop calling him that name. he is just someone who claims to be satoshi and we have yet to see if her is telling the truth or not.

second he never said i am going to move 1 million coins, he said coins from early blocks. early blocks can be #10 or #500

for all i know this will be like him signing a message!

1. I never said he is Satoshi. "Satoshi" is not Satoshi. Idk if he is Satoshi. In my imagination he is a good fit, not perfect but decent to pass for Satoshi. I don't know why some are not happy with his personality, he's a human and looks like a guy with the right knowledge and a mysterious twist to do what he claims he did. You're right that his claims are meaningless without proof.

2. I never said he needs to move 1 million coins, moving one satoshi from an early block will send a powerful message to the market. It's believed by many that Satoshi owns 1 million coins mined in 2009. Proof of access to coins of the early blocks that have never moved and priced in by the market to never move in the future will affect the price.

[freshman777]

Price for most of the altcoins are related to market price of bitcoin so whatever we may see rise of altcoin price in terms of bitcoin

Thus far this has been true. Past performance is not an indication of future performance, specially with so much news coming.