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Author Topic: Satoshi Nakamoto should be richer than Bill Gates.  (Read 7397 times)
Xester
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March 31, 2017, 11:58:20 AM
 #21

We all know Bill Gates the owner of microsoft is the most richest man in the world. Total wealth of $80 Billion US dollars. While satoshi nakamoto the owner and founder of bitcoin only have $1 billion US dollars, Why he cant just generate indefinite amount of bitcoins for him and exchange it to real cash, right? Any thoughts?

Bill gates is very rich and if we compute his wealth it is considered as a fix asset while Nakamotos bitcoins virtual assets is not fixed. Satoshi Nakamoto cannot do that thing since he already made his design in bitcoin in which everything will be mined. I believe he already holds a huge amount of bitcoin in his wallet. But even if he has a a huge amount of bitcoins he cannot catch up to Nakamoto since if he sells a huge amount of bitcoin the value of bitcoins will deflate.
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March 31, 2017, 12:28:40 PM
 #22

Generation of bitcoin doesn't mean you will get very rich. Bitcoin is virtual thing and it is solely based on market status. If you create lots of BTC then you will end up with "steady state", meaning everyone will have bigger nodes and what if they do not release the node? It will result in decrease in price of bitcoin as it is maintaining sink conditions on price graph. Though nakomoto makes it, but it has to be released and circulated in proper manner and of course blocks. Predictions of such thought are really chaotic.

 
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Kevin77
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March 31, 2017, 12:36:48 PM
 #23

Why he cant just generate indefinite amount of bitcoins for him and exchange it to real cash, right? Any thoughts?
Could you please elobrate what you're talking exactly. Did you mean Satoshi to have more number of bitcoins for himself and then selling them for real cash to become rich man ? If it is so, I'm sorry I come to a conclusion that you do not know how bitcoin ecosystem is working.

I'm sure one day or other, Mr. Satoshi will become richest man of this world when bitcoin values will be hitting more than million dollars. I believe this is the only way for Mr. Satoshi to become richer than Bill Gates.
bamboylee
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March 31, 2017, 12:57:22 PM
 #24

We all know Bill Gates the owner of microsoft is the most richest man in the world. Total wealth of $80 Billion US dollars. While satoshi nakamoto the owner and founder of bitcoin only have $1 billion US dollars, Why he cant just generate indefinite amount of bitcoins for him and exchange it to real cash, right? Any thoughts?


Your thoughts will destroy bitcoin and its foundation. What makes bitcoin a good store of value is that it have a limit in a total of bitcoins that can be generated. And I think Satoshi does not need that distinction, richest man on earth. He is still anonymous up to this date even though his invention is already making its way to the moon.
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March 31, 2017, 01:09:00 PM
 #25

I dont think Satohi Nakamoto is richer than Bill gates. Unless the price of bitcoin is very big like $50,000-$200,000 per bitcoin and if he sell all their bitcoin with that price it will be number 1 rich man in world . Bill gates have many online business and offline business so his income is continously increasing and this man will become richer and richer every single day. I dont know what is the estimate money of bill gates but I think it is billion of dollars.
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March 31, 2017, 01:10:07 PM
 #26

Is only, tax problems are very serious
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March 31, 2017, 02:08:02 PM
 #27

If you look at the total number of Bitcoin user versus the total number of people who use or have used Microsoft products, then you would know why it's a silly idea to think that Satoshi should be richer than Bill Gates.
Then add the fact that Bitcoin is open source and Satoshi has completely disappeared, it's obvious why the comparison doesn't even make sense.

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March 31, 2017, 02:24:06 PM
 #28

It's obvious that satoshi nakamoto should have more wealth than bill gates. What the hell has bill gates done for humanity other than steal the ideas of xerox and pretty much monopolize a market with it? ridiculous.
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March 31, 2017, 02:29:04 PM
 #29

I believe that bill gates is the richest with the formalities and rules of the state, but when talking nakamato satoshi, perhaps he is also the richest man in anounymous, most likely also nakamato satoshi is merely a fictional character from bitcoin ownership. still can not be accounted for in the world cryptocurency gray grounded in law.
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March 31, 2017, 02:53:59 PM
 #30

We all know Bill Gates the owner of microsoft is the most richest man in the world. Total wealth of $80 Billion US dollars. While satoshi nakamoto the owner and founder of bitcoin only have $1 billion US dollars, Why he cant just generate indefinite amount of bitcoins for him and exchange it to real cash, right? Any thoughts?

your first mistake is calling Satoshi as "owner" of bitcoin. nobody owns bitcoin, it is an open source technology that doesn't belong to anyone.

your second mistake is comparing bitcoin (a currency and a revolutionary technology) with Microsoft (a financial place made to make money). the first is a free technology made to improve our lives and be used as a decentralized currency not to make anybody rich. but the second is build to make the owner money.

i suggest reading the bitcoin paper on bitcoin.org to you.

There is a FOMO brewing...
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March 31, 2017, 03:28:20 PM
 #31

Bitcoin is unique so I'm sure someone who created bitcoin must have their own reason to hide their identity.
Since bitcoin unique, it's impossible to happen that bitcoin creator will richer than Gate's especially when bitcoin keep reach another halving for next period

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March 31, 2017, 03:54:49 PM
 #32

Bitcoin is unique so I'm sure someone who created bitcoin must have their own reason to hide their identity.
Since bitcoin unique, it's impossible to happen that bitcoin creator will richer than Gate's especially when bitcoin keep reach another halving for next period

Yes, there is nothing hidden in Bitcoin, its an open source currency, anyone can have access to mining, sending/receiving. Moreover, there is limited supply to 21 millions. So it can't some how happen that Nakamato someday emerge and show his lots of Bitcoins and become ultra rich. Bitcoins have already move from centralized phase to decentralized.
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March 31, 2017, 04:42:45 PM
 #33

If he is in fact a real person or just a group of people that use his name.
Like Negan from TWD.
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March 31, 2017, 04:55:20 PM
 #34

We all know Bill Gates the owner of microsoft is the most richest man in the world. Total wealth of $80 Billion US dollars. While satoshi nakamoto the owner and founder of bitcoin only have $1 billion US dollars, Why he cant just generate indefinite amount of bitcoins for him and exchange it to real cash, right? Any thoughts?


Why people all of these centuries they had given value to precious metals (silver, gold, platinum) and they continue to do the same till now? If gold and the rest precious metals were something that there is in abundance and everywhere then all of these can not have any value, it would be like the inflationary fiat money. That should be rare but not too rare! The same is with bitcoin. It is a digital scarce coin. If anybody could create any amount he wants then the price of bitcoin could be absolutely zero. 
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March 31, 2017, 05:14:55 PM
 #35

We all know Bill Gates the owner of microsoft is the most richest man in the world. Total wealth of $80 Billion US dollars. While satoshi nakamoto the owner and founder of bitcoin only have $1 billion US dollars, Why he cant just generate indefinite amount of bitcoins for him and exchange it to real cash, right? Any thoughts?
If Satoshi (or whoever who somehow get access to his coins) would ever move any of his known coins there would be market panic.
Bitcoin's price would immediately crash to unknown levels - furthermore it would be very hard for him to sell his coins without risking that his identity will be exposed.

Infinite amount of bitcoin = near zero value.


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March 31, 2017, 05:44:54 PM
 #36

Satoshi Nakamoto (if he is a single person and not a group) will be the wealthiest man alive and the first trillionaire man alive (assuming he is still alive if he is a person and not a group).

Bitcoin cannot be stopped, network effect too big, it crashes and always comes back, too many people wants to get in cheap.
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March 31, 2017, 05:59:35 PM
 #37

He could be richer than Bill, but his wealth would be in large part virtual, just like Bill's. Gates can be the wealthiest man, but most of his wealth are corporate shares and project investments. This isn't money you can cash out just like that and buy yourself an island or a town. Most of his money is frozen, not like he needed that much in hand, but it is what it is, a virtual wealth.
It's the same with Satoshi, he can't move the coins without risking exposure and selling that much would take years if one didn't want to crash the market.
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March 31, 2017, 06:22:03 PM
 #38

Bill Gate's wealth is pocket change, can Satoshi be richer than the Rothschilds? If Bitcoin takes off his bag must one of the biggest honeypots in human history.
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March 31, 2017, 06:51:46 PM
 #39

We all know Bill Gates the owner of microsoft is the most richest man in the world. Total wealth of $80 Billion US dollars. While satoshi nakamoto the owner and founder of bitcoin only have $1 billion US dollars, Why he cant just generate indefinite amount of bitcoins for him and exchange it to real cash, right? Any thoughts?

Because FINITE number of coins is hard coded into the network. Since bitcoin value is inherently linked to trust of its users ie. their fiat investment in it, any agreement on infinite inflation (which is what you just proposed) would lead to price collapse.

By the way, I think, that bitcoin is not as omnipresent around the world as are the products of Microsoft.
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March 31, 2017, 07:03:03 PM
 #40

We all know Bill Gates the owner of microsoft is the most richest man in the world. Total wealth of $80 Billion US dollars. While satoshi nakamoto the owner and founder of bitcoin only have $1 billion US dollars, Why he cant just generate indefinite amount of bitcoins for him and exchange it to real cash, right? Any thoughts?

That's a glaring example of misconception that money itself represents wealth

Even if he mined infinite amount of bitcoins (like many other altcoin developers did), the price per bitcoin wouldn't be over 1,000 dollars. I guess it wouldn't even be above just 1 dollar per coin. I don't know whether Bill Gates is really the richest man in the world right now (since there are other contenders like Warren Buffett), but even if he is that doesn't mean that he 80 billion dollars packed in some bank or safe. Roughly speaking, this how much wealth he has in dollar terms, but that doesn't mean that he has 80B dollars stacked under the mattress (figuratively speaking)

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