Minecache (OP)
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June 23, 2017, 01:37:58 PM |
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Note: this is a theoretical thread to discuss what would happen to Bitcoin, its price, and fanatics if it was suddenly revealed who is Satoshi Nakamoto and that they are now deceased.
What would happen to:
1. Bitcoin technology;
2. The price of a Bitcoin;
3. How would the community feel.
Discuss.
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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CryptosapienZA
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June 23, 2017, 01:54:32 PM |
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Note: this is a theoretical thread to discuss what would happen to Bitcoin, its price, and fanatics if it was suddenly revealed who is Satoshi Nakamoto and that they are now deceased.
What would happen to:
1. Bitcoin technology;
2. The price of a Bitcoin;
3. How would the community feel.
Discuss.
1. Nothing 2. Nothing 3. I think recent adopters wont care. I think early adopters would be the ones that care the most. |
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thejaytiesto
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June 23, 2017, 01:59:52 PM |
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The price would probably pump, because the fear of some guy having 1 million coins would not be there again. Some are worried that whoever satoshi is goes insane and dumps 1 million coins into the market and whatnot. But then again, his coins could be stolen.. so I think it would change nothing. It may be a non event, then again markets can act irrational so who knows. I don't think long term it would change anything.
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royalpapa
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June 23, 2017, 02:02:14 PM |
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Note: this is a theoretical thread to discuss what would happen to Bitcoin, its price, and fanatics if it was suddenly revealed who is Satoshi Nakamoto and that they are now deceased.
What would happen to:
1. Bitcoin technology;
2. The price of a Bitcoin;
3. How would the community feel.
Discuss.
Satoshi who? He doesn't care at all.. Bitbitbitbit...coin will go to the moon i perhaps..  But.. if he/she really being deceased, i'll bet people will kill for bitcoin.. |
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karasuri
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June 23, 2017, 02:09:47 PM |
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This is a strange question. The heads of huge corporations are constantly dying and their work continues to live, there is nothing strange about this. If Satoshi was real, then his death did not change anything, bitcoin was still developing. He is not the only one working on this so that his death means so much.
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erickkyut
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June 23, 2017, 02:14:41 PM |
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If Satoshi Nakamoto is dead, the Bitcoin Technology will still continue. The Bitcoin price will still depend on the demand and supply in the market. I think we will feel a little bit sad because it is late that we knew him when he is already dead and we didn't have the chance for the opportunity he had given us.
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Mazt rhiezt
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June 23, 2017, 02:29:45 PM |
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Bitcoin is already owned by investors so it will not affect anything if its inventors like sathosi nakamoto die, thanks for finding a profitable digital money.
This may be bad news but will not impact anything with bitcoin value.
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chga
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June 23, 2017, 02:32:05 PM |
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Actually he may be already dead, according to some theories about his identity (see in another thread of today).
Anyway, it has not impact on Bitcoin or the community.
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buwaytress
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Join the world-leading crypto sportsbook NOW!
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June 23, 2017, 02:34:52 PM |
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It should come as little surprise that this news wouldn't elicit any kind of response from the majority of Bitcoin users. Those closest to Nakamoto, perhaps, would feel some sadness, those who've always known privately wouldn't anyway be open to displaying their responses.
The only information this confirmation would help confirm is if his death also meant the certain loss of 1 million Bitcoin, in which case the max cap would have been reduced by almost 5%.
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xFiber
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June 23, 2017, 02:37:21 PM |
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I think either Satoshi is already dead or if he/she dies he/she will take it with them in their grave. I don't think we will ever see satoshi again. But if that scenario that OP described does happen I don't think that would affect bitcoin in a negative way. Instead it the solved mystery would be all over the news and that would only attract new people to bitcoin. But I'm pretty positive that won't happen.
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LodisMcguire
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June 23, 2017, 02:40:03 PM |
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Even if he/she is dead,it will have no affect to the current system
I think it's like how the past inventor treated,people only interested about the story rather than the person itself
People who like doing business is not that sentimental
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pinkflower
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June 23, 2017, 02:40:53 PM |
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But in a way, hes already dead. Did the technology became stagnant? No it's getting better and better. Did the price go down? No, its still growing.
How would the community feel? The community wont feel anything. Everything is all about the price of BTC now.
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Arindava
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June 23, 2017, 02:56:16 PM |
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Is it true that satoshi nakamoto is dead ?? Still a question mark who gets the legacy 1 million BTC, it's just a person's revelation about satoshi nakamoto..
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Wendigo
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June 23, 2017, 03:05:03 PM |
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1. Bitcoin technology doesn't belong to Satoshi any more. So - same old.
2. Satoshi could destroy Bitcoin with one click of his mouse if he decides to sell his Bitcoin stash. Oh wait he is dead....
3. Who cares? Everyone is in this for the money.
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Kprawn
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June 23, 2017, 03:16:55 PM |
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Note: this is a theoretical thread to discuss what would happen to Bitcoin, its price, and fanatics if it was suddenly revealed who is Satoshi Nakamoto and that they are now deceased.
What would happen to:
1. Bitcoin technology;
2. The price of a Bitcoin;
3. How would the community feel.
Discuss.
1. The technology was handed to the people, so he/she/they have zero influence. So nothing will change, if he is dead. 2. The price will skyrocket if people can verify this, but then we must know that nobody else has access to the private keys to his/her/their coins. 3. I cannot comment on how the community will feel, but I will be sad. I always thought Satoshi would come forward, somewhere in the future. * Some people think Hal Finney was Satoshi and he is dead.  { Died: 28 August 2014 } |
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Dudeperfect
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June 23, 2017, 03:24:58 PM |
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It would be the single best thing which could happen to the Bitcoin. We must accept the fact that bitcoin has grown so big that even if Satoshi is alive and disclosing himself with the valid proof then there will be threats to his life and possible pressure from the government authorities to compromise the security, privacy of the bitcoin so I believe if he is dead then it would be a good sign for the bitcoin and my opinion doesn't mean that I am happy, I deeply respect this genius and wish a long healthy life for him (and want him to remain under cover forever).
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Ichijou025
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June 23, 2017, 03:28:47 PM |
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Note: this is a theoretical thread to discuss what would happen to Bitcoin, its price, and fanatics if it was suddenly revealed who is Satoshi Nakamoto and that they are now deceased.
What would happen to:
1. Bitcoin technology;
2. The price of a Bitcoin;
3. How would the community feel.
Discuss.
Oh satoshi that guy .... i dont know about that guy but im pretty sure bitcoin will still contineu. And he is old |
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novemberwoah
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June 23, 2017, 03:34:56 PM |
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If Satoshi Nakamoto is dead, the Bitcoin Technology will still continue. The Bitcoin price will still depend on the demand and supply in the market. I think we will feel a little bit sad because it is late that we knew him when he is already dead and we didn't have the chance for the opportunity he had given us.
Yeah right, if Satoshi Nakamoto died bitcoin will continue. As we know bitcoin is decentralized and does not depend on trusting major publishers. So if Satoshi Nakamoto is dead bitcoin will not change, because the development of bitcoin is on the user. And how can we know that Satoshi Nakamoto has died if we still do not know who and what he really is. But I'm sure if it happens bitcoin users will be sad because as you say, we know him when he died. We can only remember him and thank him for creating this incredible technology. |
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deisik
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June 23, 2017, 03:35:56 PM
Last edit: June 23, 2017, 04:35:41 PM by deisik |
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If Satoshi is dead, he will become a symbol or even a legend with time
But he is likely already a legend, and even more so if no one finds out about him. Though this is unlikely, there should be folks who know for certain who is the guy behind this name, and they will make a clean breast sooner or later (when their time comes). Regarding the questions in the OP, Bitcoin technology is not tied to just one person (in other words, there's no single point of failure), so everything will go on as per usual. The market sentiment can be confused, though. On the one hand, his coins would be essentially left for dead, which would mean the fears of them being dumped will vanish over time (provided there were any, in the first place, of course), while on the other, the markets may feel somewhat depressed and some folks may choose to dump their coins (but not many, anyway). The community won't be quite happy, obviously. I guess the majorly would prefer if Satoshi remained incognito till the end of days (or at least, till the end of Bitcoin)
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bamboylee
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June 23, 2017, 03:41:54 PM |
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Unless he bequeath his bitcoin to his relatives and those relatives start dumping their bitcoin, satoshi dying will have no effect to bitcoin and its price. Everything is already in order. There are devs taking care of development. He may have started it but he already left bitcoin in good hands.
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