Market reaction if C. Wright moves coin?

[pawel7777]

http://www.bbc.co.uk/news/technology-36193006

Craig Wright's spokesman told the BBC that the Australian would "move a coin from an early block" known to belong to the crypto-currency's inventor "in the coming days".

What market reaction should we expect if CW delivers on his promise and moves Satoshi's coin?

[1715223848]

1715223848

[zby]

I would predict another correction - because it is clear that he cannot be trusted with those 1M BTCs (plus he has financial problems).

I personally don't expect that he is Satoshi - but he might have learned/cracked/hacked some of the private keys - so this show can take a little bit longer.

[maokoto]

There will be a market reaction for sure, but I cannot or would not dare to tell in which direction. Probably down, as many do not seem to trust wright and it would be disappointing for them that he is satoshi.

[~BitSy~]

It depends on how much he moves and by moving what he does. If he simply send an small amount to another address just for sake of proving his identity then can't see mach of difference in terms of market reaction but if he moves a large amount and sell it in exchange to some other type of money then we could expect a fall reaction in the market.

[RodeoX]

I would predict another correction - because it is clear that he cannot be trusted with those 1M BTCs (plus he has financial problems).

I personally don't expect that he is Satoshi - but he might have learned/cracked/hacked some of the private keys - so this show can take a little bit longer.

Well, they are his coins (Satoshi). Knowing that the big wallet can still be accessed would cause me to devalue bitcoin a bit just as knowing the coins are in "limbo" would cause me to consider a higher valuation. But who am I to decide who is deserving?

[iv4n]

http://www.bbc.co.uk/news/technology-36193006

Craig Wright's spokesman told the BBC that the Australian would "move a coin from an early block" known to belong to the crypto-currency's inventor "in the coming days".

What market reaction should we expect if CW delivers on his promise and moves Satoshi's coin?

If he really can move it, in what I doubt he can, where he can sell it? To whom?
I think what will happen depends more from who will buyers be then his dumping.
Maybe we will see price goes down while he selling his coins, but after that when situation get stabile again price can just go up, of course if some bitcoin believer grabs all amount.
But if coins end up in wrong hands we can expect some problems for sure.

[gentlemand]

Regardless of who he actually is, it is quite clear he was an early miner. There's plenty of those already and probably others with more coins too. I'd like to know where this 1.1 million figure comes from.

The market is a fucking pussy so it'll probably have a shit anyway.

[JaneEverycunt]

If he really can move it, in what I doubt he can, where he can sell it? To whom?

The same place everybody sells bitcoins, like exchanges, to anyone who buys bitcoins.

[hector3115]

According to him they are locked in a trust until 2020.  That should be very bullish for the price because it provides certainty that those coins will not move until then.  Uncertainty about Satoshi and his coins has been a drag on bitcoins price forever.

If CW is in fact Satoshi, the fact that the coins are locked up makes sense considering he has had financial problems that would have been wiped out if he could touch the coins.

[Denker]

I doubt he can move any coins belonging to Satoshi.
That's why I'm not worried or care what this guy will demonstrating.
He's a hoax, a con artist and loves to get attention.

[mobnepal]

If he really can move it, in what I doubt he can, where he can sell it? To whom?

The same place everybody sells bitcoins, like exchanges, to anyone who buys bitcoins.

It is for sure he can't sell all his 1m coin in one go and i also personally don't think he have those 1m coins even if he is real satoshi. He may have forget lots of those private key of those old addressess. I am holding my coin for now.

[Leonius]

http://www.bbc.co.uk/news/technology-36193006

Craig Wright's spokesman told the BBC that the Australian would "move a coin from an early block" known to belong to the crypto-currency's inventor "in the coming days".

What market reaction should we expect if CW delivers on his promise and moves Satoshi's coin?

Probably down a little but it depends, maybe we've had our down move.  It really shouldn't matter either way.

[pawel7777]

I would predict another correction - because it is clear that he cannot be trusted with those 1M BTCs (plus he has financial problems).
...

Definitely. The question is how low would it go. Right after BBC, Economist published the story, price went down something like $10 (I can be wrong on this one), BTC lending rates on Polo instantly went up 3-4 fold, meaning people were expecting some sort of crash. His 'proof' was debunked only after 90 minutes and things got back to normal.

According to him they are locked in a trust until 2020.  That should be very bullish for the price because it provides certainty that those coins will not move until then.  Uncertainty about Satoshi and his coins has been a drag on bitcoins price forever.

If CW is in fact Satoshi, the fact that the coins are locked up makes sense considering he has had financial problems that would have been wiped out if he could touch the coins.

But if he was to move even 1 satoshi, that would mean coins are not locked and he's got access to them.

I also don't buy the "trust" story. Afaik the coins are sitting there since forever, so there's no way he had transferred them into trust account. So how would that work? He deposited his private keys with a trust, like in a safe deposit box? That's not quite how trust funds work.

...
The market is a fucking pussy so it'll probably have a shit anyway.

I like your style 

Market is a pussy because everyone expect others to act like pussies and start panic-selling. Self-fulfilling prophecy kind of thing.

[biggus dickus]

...
The market is a fucking pussy so it'll probably have a shit anyway.

I like your style 

Market is a pussy because everyone expect others to act like pussies and start panic-selling. Self-fulfilling prophecy kind of thing.

The whole market is waiting with baited breath to see if he starts moving coins. Any movement will spark a panic-selling massive dump because its a giant fear at the back of everyone's minds worse than an exchange getting hacked. Those Satoshi coins getting dumped frightens people even more than the Gox hack.

[gentlemand]

It's a healthy thing overall even if it does produce some jitters in the short term. And the creator dumping one million coins on yobit doesn't quite make much sense to me.

[biggus dickus]

It's a healthy thing overall even if it does produce some jitters in the short term. And the creator dumping one million coins on yobit doesn't quite make much sense to me.

Overall getting those coins dumped would remove that giant fear from the back of people's minds, and might encourage new blood into the market. There must be people who refused to invest because they knew about those unspent Satoshi coins. Everyone's been waiting for institutional investors, but they were probably put off by the risk of Satoshi dumping.

[ingiltere]

He's not Satoshi so he can't move coins but if real Satoshi moves coins then it's healthy in the long run. There's a significant pressure in the market for those +1 million coins, we can't deny it. Coins should be moved at one point, the faster the better.