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mrcash02
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June 08, 2017, 01:55:49 AM
 #1

It's not a secret Satoshi Nakamoto has more than 1 million of Bitcoins in his wallet, right?

If he suddenly wants to sell all his Bitcoins, could it cause a chaos in Bitcoin market making the price fall? Or is this amount too insignificant to cause any mess?

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June 08, 2017, 03:06:00 AM
 #2

For as long as Bitcoin has existed, it has always been a possibility. Some like to think Satoshi purposefully threw away the keys to his multiple wallets because he knew how risky keeping that much btc was. Personally, I believe that he still has access to the wallets and hasn't touched them for three main reasons. Firstly, he knows that people would notice if he sold his bitcoins, which has the potential to destroy faith in the whole project. Secondly, he's aware of the fact that selling so many bitcoins would most definitely disrupt the market. Thirdly, as the visionary behind blockchains, he has an unshakable faith in Bitcoin and is certain it will succeed in the long term.
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June 08, 2017, 03:14:47 AM
 #3

It's not a secret Satoshi Nakamoto has more than 1 million of Bitcoins in his wallet, right?

If he suddenly wants to sell all his Bitcoins, could it cause a chaos in Bitcoin market making the price fall? Or is this amount too insignificant to cause any mess?
If this happen that nakamoto sell all his bitcoin i think bitcoin price drop.  And many investor panic for this because they don't sell their bitcoin when the time price increase. Regretting is the number one feel all investor.
Hope that speculation not happen.

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mrcash02
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June 08, 2017, 03:42:32 AM
 #4

I believe only someone with big ideal would be able to create something like Bitcoin, and that is the case of Satoshi.

I don't know the real purpose why he intended to create Bitcoin, but considering what you said, as he has the potential to destroy the others faith in Bitcoin if he sells everything, could he be waiting the big whales of this world, the rich people introduce themselves in Bitcoin to make it fail and consequently, turning the wealth of rich people into ashes?

For me, it looks like God watching his own creation, and like in the "Deluge of Noah's Ark" story, at some point, God wanted to destroy the humanity because they weren't corresponding to his laws. Surely it's a figurative meaning, just an example, but something like this, if rich people start trying to control Bitcoin, Satoshi could destroy it.

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June 08, 2017, 03:46:20 AM
 #5

Every 50-70 bitcoins sold at one size can drop the price for 1 dollar. 1 mill can drop it down to the bottom. It is beginning of June stat.
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June 08, 2017, 03:57:16 AM
 #6

It's not a secret Satoshi Nakamoto has more than 1 million of Bitcoins in his wallet, right?

If he suddenly wants to sell all his Bitcoins, could it cause a chaos in Bitcoin market making the price fall? Or is this amount too insignificant to cause any mess?

If he is going to sell all of his bitcoin into a lower price then yes, it would affect the bitcoin market causing its price to go dump, but it is not a bad thing after all, because if this thing is going to happen in the near future, then I am going to buy bitcoins and I am going to hold it in my wallet and wait for its price to go up again so that I could earn a lot of profits in the long run.

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June 08, 2017, 03:58:42 AM
 #7

It's not a secret Satoshi Nakamoto has more than 1 million of Bitcoins in his wallet, right?

If he suddenly wants to sell all his Bitcoins, could it cause a chaos in Bitcoin market making the price fall? Or is this amount too insignificant to cause any mess?
Well, yes, a sudden influx of billions of dollars would definitely crash the market if he aimed to sell them all at once. If he tried to portion it out over time, then it would be possible for him to get the money and not destroy the market. Which is basically the better idea out of all the ones that you can think of. I'm personally surprised more people don't do it in the exchanges and a lot of it is just dumps at once, but whatever. I guess it depends on time periods that are available.
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June 08, 2017, 03:59:44 AM
 #8

I dont know whats worse,

- if he had access to his wallets and sold all his coins. ..or    Sad
- if he had died and no one has access to all of those coins....   Sad

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June 08, 2017, 04:03:13 AM
 #9

It's not a secret Satoshi Nakamoto has more than 1 million of Bitcoins in his wallet, right?

If he suddenly wants to sell all his Bitcoins, could it cause a chaos in Bitcoin market making the price fall? Or is this amount too insignificant to cause any mess?

the first thing you need to know about that stash is that it is a big guess not an accurate amount since many others were mining that time.
also if you knew the way satoshi were thinking and read the bitcoin paper and learn why satoshi created bitcoin. you can see that it was not because he wanted to sell bitcoin for fiat to make some money, that is the way we think. bitcoin was created in order to be a digital currency system which means being able to spend it directly. i say if someday those coins move it won't be because of "selling it for fiat" it will be because of spending them.

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June 08, 2017, 04:12:11 AM
 #10

It's not a secret Satoshi Nakamoto has more than 1 million of Bitcoins in his wallet, right?

If he suddenly wants to sell all his Bitcoins, could it cause a chaos in Bitcoin market making the price fall? Or is this amount too insignificant to cause any mess?
1 million bitcoin is a big value if you sell to fiat you can become rich, if satoshi intend to sell it's will only decrease the value of bitcoin may be worthless, investors will also run away and lose money if bitcoins are worthless and bitcoin becomes a failed project.

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June 08, 2017, 04:26:37 AM
 #11

It's not a secret Satoshi Nakamoto has more than 1 million of Bitcoins in his wallet, right?

If he suddenly wants to sell all his Bitcoins, could it cause a chaos in Bitcoin market making the price fall? Or is this amount too insignificant to cause any mess?

Of course it's a huge amount which could cause ripples across the markets but I do not think satoshi would ever do it, secondly we do not even know if he is yet there, it's weird to ask but did no one ever try to find out where satoshi coins where, no one ever claims to have them, the very possibility of his coins coming into market would cause excitement in the market. But currently there seem to be no clue as to if now or in future his coins will be ever sold, guess it's a wait and watch.

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June 08, 2017, 04:38:40 AM
 #12

It's not a secret Satoshi Nakamoto has more than 1 million of Bitcoins in his wallet, right?

If he suddenly wants to sell all his Bitcoins, could it cause a chaos in Bitcoin market making the price fall? Or is this amount too insignificant to cause any mess?
Yes , this is possible . You can easily understand that how much the market will fluctuate because when new service enter
In the Bitcoin market then for some days the price up ,.so you can think that what will happen if the Satoshi nakamoto will sell all his coins in the market , I am 100% sure that the market of the Bitcoin will crash to 40% because with the down of the price the people will
Also sell.thier Bitcoin due of panic to loss .
But I don't think that mr. Satoshi will.do this type of stupid activity because the power of the Satoshi nakamoto is due to the Bitcoin
And it's price in the world , if the price of the Bitcoin will get down then I am 100% sure that other altcoin will.enter in the market and can easily beat the Bitcoin . So here all thing that we are thinking will be impossible logically .


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June 08, 2017, 05:07:09 AM
 #13

It's not a secret Satoshi Nakamoto has more than 1 million of Bitcoins in his wallet, right?

If he suddenly wants to sell all his Bitcoins, could it cause a chaos in Bitcoin market making the price fall? Or is this amount too insignificant to cause any mess?

About 1 million, mining blocks of 50 each, 7% of bitcoins. Obviously if Satoshi decides to sell his coins it would cause a chaos, price would plummet, moreover it would cause a psychological impact, Satoshi selling his stash means he has no more faith in his creation. That would be disastrous for the community.

About an year ago, Theymos had proposed that old/lost coins should be destroyed before it gets stolen and cause a disastrous monetary inflation and this proposition wasn't well looked upon by the community, assuming that it suggested Satoshi's bitcoins should be destroyed. Yeah, this is a centralized approach and anyone with coins in their wallet have the right to access it whenever they want to. But from a security point of view it is a big risk, if the coin gets stolen it would have the same impact if Satoshi dumps it himself.

We have good reasons to believe Satoshi would not take such an irrational step.

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June 08, 2017, 05:19:48 AM
 #14

first of all i don't think he is that stupid to sell all in one volley and cause a major value wreck and panic dump, second the market now is so big that cna absorbs that without much trouble

and third one i think satoshi don't own 1M coins, the estimate is more around 200k, there were other people mining with him at that time
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June 08, 2017, 05:22:25 AM
 #15

We are not sure Satoshi got that amount and I think he is wise enough not to sell it all at once, if Satoshi sell all of his coin at once the price will fall down and it can cause chaos to the market, but eventually it will be back to normal because a lot of people now is looking for bitcoin to invest, so they are waiting the right time to buy it

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June 08, 2017, 05:26:53 AM
 #16

The price will drop a lot, if you look at what happened when they sold 44 000 bitcoins on the Silkroad Auction. It usually drop even before the auction or event happens. http://www.coindesk.com/four-winners-44000-bitcoins-final-silk-road-auction/

Even if Satoshi sell only 1 bitcoin, then the price will drop quickly. People will then know in advance that those coins are available to him or her and they will start to panic sell before he or she starts to dump the rest onto the markets. ^hmmmm^


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June 08, 2017, 05:57:20 AM
 #17

It's not a secret Satoshi Nakamoto has more than 1 million of Bitcoins in his wallet, right?

If he suddenly wants to sell all his Bitcoins, could it cause a chaos in Bitcoin market making the price fall? Or is this amount too insignificant to cause any mess?

the first thing you need to know about that stash is that it is a big guess not an accurate amount since many others were mining that time.
also if you knew the way satoshi were thinking and read the bitcoin paper and learn why satoshi created bitcoin. you can see that it was not because he wanted to sell bitcoin for fiat to make some money, that is the way we think. bitcoin was created in order to be a digital currency system which means being able to spend it directly. i say if someday those coins move it won't be because of "selling it for fiat" it will be because of spending them.
First 20K blocks were mined with difficulty of 1 meaning only 1 person was mining it but there are already some of the block rewards spent long time ago, he has already spent some of his coins, only difficulty starts to increase after 20K blocks, if not then some where along the way devs changed how difficulty adjusts.
He doesn't really have 1M it's just an estimation, anyways thinking that he could destroy Bitcoin like noobs here suggesting is absurd.
What is next maybe we should craft a statue and start worshiping him like an idol? lol.

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June 08, 2017, 06:10:43 AM
 #18

I dont know whats worse,

- if he had access to his wallets and sold all his coins. ..or    Sad
- if he had died and no one has access to all of those coins....   Sad

I would say that the worse is if he had sold all his coins but I doubt that he will since his project will definitely fall and die which logically is not even a time for that if he wants to now that it had garnered attention especially to the governments and adoption of Bitcoin is increasing that lead to the increase of Bitcoin's price and his wealth of course.

In the second one, it might be good that there is no one that can access that huge sum of Bitcoin but I am not saying that it is good that Satoshi to die so that he can't possibly do this threat to Bitcoin market. Bitcoin is Satoshi's creation and again I doubt that he will destroy it unless he has other plans for him to do so.
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June 08, 2017, 06:19:35 AM
 #19

The more market cap grows, day by day and the more people flock into cryptocurrency, the less there is a chance of one large holder signficantly affecting the network. If he decided to sell, I do not think he ll just dump it. After all, what would he do with that kind of amount of money? How would he perform this transaction. Send it to Coinbase and withdraw to his main account?

Yeah, right.

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June 08, 2017, 06:23:05 AM
 #20

It's not a secret Satoshi Nakamoto has more than 1 million of Bitcoins in his wallet, right?

If he suddenly wants to sell all his Bitcoins, could it cause a chaos in Bitcoin market making the price fall? Or is this amount too insignificant to cause any mess?
Satoshi must have plenty that he mined to get him by  Smiley
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