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Author Topic: Coins of Satoshi  (Read 3758 times)
1hs0t4s
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May 19, 2017, 03:50:50 PM
 #1

Get Satoshi’s coins in possession of a group of trusted community members (with an hard fork).

Multi signature required for actions from this pool of valuable internet money.

As per todays economical data this group would have access to more than 1 Billion USD in BTC.
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pedrog
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May 19, 2017, 03:56:17 PM
 #2

Get Satoshi’s coins in possession of a group of trusted community members (with an hard fork).

Multi signature required for actions from this pool of valuable internet money.

As per todays economical data this group would have access to more than 1 Billion USD in BTC.

You can make such fork.

Do you think people will use it and it will be worth $2000 per coin?

I wouldn't use it, I don't think anybody will use it, and such 'group' will have 0 USD in BTC.
cr1776
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May 19, 2017, 04:45:20 PM
 #3

Get Satoshi’s coins in possession of a group of trusted community members (with an hard fork).

Multi signature required for actions from this pool of valuable internet money.

As per todays economical data this group would have access to more than 1 Billion USD in BTC.

If you can take anyone's coins for any reason, the point of bitcoin will have been lost.  I, for one, wouldn't use this alt-coin.
susila_bai
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May 19, 2017, 06:37:12 PM
 #4

Get Satoshi’s coins in possession of a group of trusted community members (with an hard fork).

Multi signature required for actions from this pool of valuable internet money.

As per todays economical data this group would have access to more than 1 Billion USD in BTC.

It is true that if satoshi's coin are hard fork and got it , then Bitcoin will also become like other altcoins which can be manipulated by a single developer. So this question itself is useless

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Foxpup
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May 20, 2017, 02:57:31 AM
 #5

Satoshi earned those coins deservedly as compensation for his invention, and nobody but Satoshi has any right to decide what happens to them.

I, for one, wouldn't use this alt-coin.
Nor I.

Will pretend to do unverifiable things (while actually eating an enchilada-style burrito) for bitcoins: 1K6d1EviQKX3SVKjPYmJGyWBb1avbmCFM4
gmaxwell
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May 20, 2017, 06:59:05 AM
 #6

No one has any idea what coins are Satoshi's -- except for the coins paid the the block 0 address and those left over from block 9.

People speculate about a lot of things-- but most of these speculations are provably false or are at least completely unsupported.--- they just get spread around to justify the super massive and unethical premines in systems like Ethereum.

For all we know Satoshi might only own a small amount of Bitcoin.

Regardless, you're sure as hell not going to take anyone's Bitcoin's from them.

Bitcoin will not be compromised
1hs0t4s
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May 21, 2017, 06:43:45 PM
 #7

We could assume that all coins which are untouched after mining in the first couple of ten thousands blocks are mined by Satoshi.
I believe those blocks weren't all mined within 10 minutes because of the low starting difficulty and slow difficulty retarget time. It could've taken just a few seconds to mine a block after the genesis block.
DannyHamilton
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May 21, 2017, 08:28:46 PM
 #8

We could assume that all coins which are untouched after mining in the first couple of ten thousands blocks are mined by Satoshi.
I believe those blocks weren't all mined within 10 minutes because of the low starting difficulty and slow difficulty retarget time. It could've taken just a few seconds to mine a block after the genesis block.

Absolute nonsense. Please stop making completely ridiculous suggestions, and spend a few minutes learning how bitcoin actually works.

If you want a currency where funds can be frozen and stolen so easily I suggest you stick with US dollars. You'll discover that Bitcoin isn't going to be able to satisfy your urge to take what belongs to others so easily.

1hs0t4s
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May 22, 2017, 09:30:16 AM
 #9

We could assume that all coins which are untouched after mining in the first couple of ten thousands blocks are mined by Satoshi.
I believe those blocks weren't all mined within 10 minutes because of the low starting difficulty and slow difficulty retarget time. It could've taken just a few seconds to mine a block after the genesis block.

Absolute nonsense. Please stop making completely ridiculous suggestions, and spend a few minutes learning how bitcoin actually works.

If you want a currency where funds can be frozen and stolen so easily I suggest you stick with US dollars. You'll discover that Bitcoin isn't going to be able to satisfy your urge to take what belongs to others so easily.

I know how cryptocurrencies work and its possible to get a hold of those coins or update/modify the current sourcecode. I am making this suggestion as I believe Satoshis' coins are either lost or stolen and they might not come back using their alias.

DannyHamilton
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May 22, 2017, 01:31:55 PM
 #10

We could assume that all coins which are untouched after mining in the first couple of ten thousands blocks are mined by Satoshi.
I believe those blocks weren't all mined within 10 minutes because of the low starting difficulty and slow difficulty retarget time. It could've taken just a few seconds to mine a block after the genesis block.
Absolute nonsense. Please stop making completely ridiculous suggestions, and spend a few minutes learning how bitcoin actually works.

If you want a currency where funds can be frozen and stolen so easily I suggest you stick with US dollars. You'll discover that Bitcoin isn't going to be able to satisfy your urge to take what belongs to others so easily.
I know how cryptocurrencies work
- snip -

If you think you can identify with certainty "ten thousands blocks" that were mined by Satoshi, then you probably don't understand how bitcoin actually works.

If you think "It could've taken just a few seconds to mine a block after the genesis block", then you definitely don't understand how bitcoin actually works.

If you think there's a chance to "get a hold of those coins" without the private key, and/or that it is as easy as "update/modify the current sourcecode", then you've got a LOT to learn.

amaclin
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May 22, 2017, 01:35:47 PM
 #11

Satoshi earned those coins deservedly as compensation for his invention, and nobody but Satoshi has any right to decide what happens to them.

I, for one, wouldn't use this alt-coin.
Nor I.

I will  Grin
OK, now it is your turn.
1hs0t4s
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May 22, 2017, 01:54:14 PM
 #12

We could assume that all coins which are untouched after mining in the first couple of ten thousands blocks are mined by Satoshi.
I believe those blocks weren't all mined within 10 minutes because of the low starting difficulty and slow difficulty retarget time. It could've taken just a few seconds to mine a block after the genesis block.
Absolute nonsense. Please stop making completely ridiculous suggestions, and spend a few minutes learning how bitcoin actually works.

If you want a currency where funds can be frozen and stolen so easily I suggest you stick with US dollars. You'll discover that Bitcoin isn't going to be able to satisfy your urge to take what belongs to others so easily.
I know how cryptocurrencies work
- snip -

If you think you can identify with certainty "ten thousands blocks" that were mined by Satoshi, then you probably don't understand how bitcoin actually works.

If you think "It could've taken just a few seconds to mine a block after the genesis block", then you definitely don't understand how bitcoin actually works.

If you think there's a chance to "get a hold of those coins" without the private key, and/or that it is as easy as "update/modify the current sourcecode", then you've got a LOT to learn.

With some research you can see which of the early mined coins are untouched. These were probably mined by team Satoshi.

Have you got any knowledge about how the difficulty functionality works? Seems you don't. The starting difficulty was so low that it took seconds instead of 10 minutes to mine a block.

I believe some double spending happened in the early days..

There definitely are ways to get access to the coins we are speaking about.
amaclin
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May 22, 2017, 02:02:15 PM
 #13

Have you got any knowledge about how the difficulty functionality works?
Seems you don't.
The starting difficulty was so low that it took seconds instead of 10 minutes to mine a block.
LOL. Have you got any knowledge about how the difficulty functionality works?
Seems you don't.
The starting difficulty was low and it took 10 minutes to mine a block.
DannyHamilton
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May 22, 2017, 04:11:09 PM
 #14

With some research you can see which of the early mined coins are untouched. These were probably mined by team Satoshi.

Probably?  PROBABLY??

You're just going to steal bitcoins without even knowing for certain who they belong to?  Your lack of ethics and morals is astounding.  Might be a good idea to lock you up before you destroy too many peoples lives.

Have you got any knowledge about how the difficulty functionality works? Seems you don't.

I do.  You clearly don't.  This is why I have suggested that you, "stop making completely ridiculous suggestions, and spend a few minutes learning how bitcoin actually works."

The starting difficulty was so low that it took seconds instead of 10 minutes to mine a block.

This is not true.  Difficulty adjusts every 2016 bocks to keep the block interval at 10 minutes.  If those 2016 blocks come too fast, then the difficulty is increased to slow down the blocks.  If those 2016 blocks come too slow, then the difficulty is decreased to speed up the blocks.

I believe some double spending happened in the early days..

There has never been a successful double-spend in Bitcoin (where the same bitcoins, or outputs, are spent in more than one transaction in the blockchain).

There definitely are ways to get access to the coins we are speaking about.

Well,  if you're so certain, then stop talking about it and go ahead and do it.

Good luck.

amaclin
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May 22, 2017, 04:17:43 PM
 #15

There has never been a successful double-spend in Bitcoin (where the same bitcoins,
or outputs, are spent in more than one transaction in the blockchain).
Your definition for "successful double-spend" is too poor.
Let us define double-spending as "buying two things by paying with one coin"
https://bitcointalk.org/index.php?topic=152348.0
DannyHamilton
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May 22, 2017, 04:31:59 PM
 #16

There has never been a successful double-spend in Bitcoin (where the same bitcoins,
or outputs, are spent in more than one transaction in the blockchain).
Your definition for "successful double-spend" is too poor.
Let us define double-spending as "buying two things by paying with one coin"
https://bitcointalk.org/index.php?topic=152348.0

Coins don't exist (and you know that).  Only outputs with an associated value.

Therefore, nobody has every "payed with one coin" for anything.

Furthermore, if someone provides a product or service before the agreed transaction is well confirmed in the blockchain, then they are voluntarily taking a risk that the transaction will be invalid and that they won't receive control over that value.  That's not a double spend, that's providing a product or service in exchange for a promise.

amaclin
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May 22, 2017, 04:42:41 PM
 #17

Furthermore, if someone provides a product or service before the agreed transaction is well confirmed in the blockchain
So, double-spending (by your definition) does not exist in any transaction system.
The merchant must wait a billion years for "well-confirming" the money before sending the goods Smiley
DannyHamilton
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May 22, 2017, 04:56:11 PM
 #18

So, double-spending (by your definition) does not exist in any transaction system.

Not in any usable transaction system.  In centralized transaction systems, that is the purpose of the centralized entity (to be the "authority" on which is the "real" transaction so that double-spending doesn't happen).  In a decentralized system, that is the purpose of the blockchain ((to be the "authority" on which is the "real" transaction so that double-spending doesn't happen).

The merchant must wait a billion years for "well-confirming" the money before sending the goods Smiley

Each merchant can make their own decisions based on their own risk tolerance.

Using your definition, every bounced check or reversed paypal or credit card transaction is a "double-spend"?

amaclin
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May 22, 2017, 05:07:27 PM
 #19

Using your definition, every bounced check or reversed paypal or credit card transaction is a "double-spend"?
my english is too poor
what is "double" and what is "spend"?  Grin
i thought that double-spend - is successful spending one amount of funds for two/three/etc victims
no matter how this exchange was performed - by centralized or decentralized system
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May 23, 2017, 04:23:43 PM
 #20

No one has any idea what coins are Satoshi's -- except for the coins paid the the block 0 address and those left over from block 9.

People speculate about a lot of things-- but most of these speculations are provably false or are at least completely unsupported.--- they just get spread around to justify the super massive and unethical premines in systems like Ethereum.

For all we know Satoshi might only own a small amount of Bitcoin.

Regardless, you're sure as hell not going to take anyone's Bitcoin's from them.

so let me speculate too while I write my sci-fi novel...  Grin

Satoshi kept some sort of mnemonic diceware-string for his first deterministic wallet ... He never took note of it because he though he would never forget that string... but then he had a stroke and he developed a severe memory loss ... since then he tried to recover his memory ...

     

Patent1number: ****-****
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