Message to Satoshi, please dump your 1million bitcoins

[joebrook]

I really don't see what that what that will prove after all, If he dumps the bitcoins that he is supposedly holding, it is not going to be a part of the unmined bitcoins but rather, its going to go some exchanges.

[RealJoshuar]

My resolution? Dump all your bitcoins on the biggest exchanges and destroy the currency, then start over.

Let's say satoshi listened to a newbie, and he actually destroyed bitcoin, what do you suggest to start over? What are you gonna change in bitcoin to make it better and not just repeat the whole cycle back to where we are now?

Or you just want to push an altcoin?

Or you are just jealous to those early adopters who have lots of money because of bitcoin that's why you want start over?

My original account got hacked and is legendary, I joined way earlier than you(years ago) and have been lurking even earlier. Please...

I bought over 50 btc back in early 2014, I am a "semi early adopter", but this coin is pretty useless asides from making money based entirely on speculation.

I'm also not pushing any other coin as they all suffer the same fate, though I have a bias for ones that are moreso entirely anonymous

[dawoodkhan97]

If such an event does happen it will only create a seller panic frenzy
which can significantly hurt bitcoin and cripple its price action.

[The_Dark_Knight]

destroy?
start over?

but why newbies have this destructive ideas? They doesn't know how it was hard and difficult arrive at this point also for the btc cash fork?!?
No I think no, because it's really a crazy idea " destroy" btc dumping satoshi btc.
I suggest you some lecture about Satoshi Nakamoto, because you can understand more about the creator (creators?) of btc and why probably he (they?) are not selling any dime (or probably only a small part was moved just some time ago). https://bitcointalk.org/index.php?topic=507458.0

Because they do not understand all what it was needed to happen for something like bitcoin to exist at all, many people imagined something like bitcoin for a very long time but it took a lot of time and a genius like satoshi to solve the puzzle and create bitcoin and now they want to start over when we have a market of 300 billion dollars, bitcoin is not perfect but it is what we have and we will have to deal with it.

[lighpulsar07]

Well you know satoshi left the building few years ago right? Without any trace of his true identity. We don't know what is he doing right now and some of us including me, speculated that he is dead so, how can we contact him? And also if satoshi came back to bitcoin do you think he will just dump all of his coins? And if he wanted to dump all his coins do you think exchanges can pay him in terms of fiat considering the price of bitcoin is over 10000?

[BitcoinMoses]

 Dumping the 985050 Bitcoins will not sort-out the major problems.

[SHANTA]

Satoshi, bitcoin is extremely volatile and run by organizations now, not the people. There's constant forks such as Bitcoin Cash and other garbage that shows just how jokey the coin is. The only thing worthwhile is the blockchain itself and I honestly believe this was not meant to function as a method of payment, but as a method of storage(Bitcoin's constant dramatic price changes, good and bad, show this)
 
My resolution? Dump all your bitcoins on the biggest exchanges and destroy the currency, then start over.

What do you want to say broo I cant understand what are you say?

[ViceOfBTC21]

You are joking. Satoshi will keep these coins forever. It will be even worse. Maybe I understand 250000, but no more.

[Za1n]

Maybe Satoshi lost the keys to the bitcoins in question, or perhaps Satoshi is deceased. Hal Finney was one of the first people to publicly work with Satoshi on bitcoin, perhaps they were one in the same and Satoshi was simply his nom de plume to avoid publicity. Now with Hal gone the keys are probably gone as well.

[Crypto Bloke]

I thought that the common view was that 'Satoshi' was either the name of a group of developers or that the original 'Satoshi' was thought to have died?

I think that Satoshi would have been discovered by now.  It's difficult to 'lay-low' with such a fortune and to keep such a big secret for such a long time....

[The_Dark_Knight]

I thought that the common view was that 'Satoshi' was either the name of a group of developers or that the original 'Satoshi' was thought to have died?

I think that Satoshi would have been discovered by now.  It's difficult to 'lay-low' with such a fortune and to keep such a big secret for such a long time....

It is very easy for satoshi to lay low with such a fortune in bitcoin, he has not touched those coins and after so much time it is unlikely he is ever going to touch those coins, it is very likely that he deleted the private keys since it seems obvious he was not interested in being famous either, also there is not an agreement of who satoshi is or what has happened to him.

[firl21]

Please don't, send them to me.
In all honesty, I think Satoshi is Gates or Ellison. Someone who doesn't need the money

[harrypotter1229]

It is still early in the development of encrypted currency that the price of bitcoin is often fluctuating, and now the market is full of too much speculating. I think there will be more practical projects combined with the block chain in the future, and maybe that time the money market will not be encrypted as it is now.

[jseverson]

Satoshi, bitcoin is extremely volatile and run by organizations now, not the people.

Bitcoin volatility is well documented, but do you have a source in saying that Bitcoin is being run by an organizations?

There's constant forks such as Bitcoin Cash and other garbage that shows just how jokey the coin is.

I actually think forks show the exact opposite; it makes a great foundation for some shitcoin some random person is trying to launch. Fact of the matter is, most altcoins were based off Bitcoin, which is a testament as to how solid it is.

The only thing worthwhile is the blockchain itself and I honestly believe this was not meant to function as a method of payment, but as a method of storage(Bitcoin's constant dramatic price changes, good and bad, show this)

It was meant as a method of payment. Whether it is ideal as a form of payment is up in the air. I personally believe it could be, and that its value will settle down once it actually gets a good chunk of adoption.

My resolution? Dump all your bitcoins on the biggest exchanges and destroy the currency, then start over.

I'm not sure this will destroy Bitcoin. It will cause a massive slide, yes, but recovery isn't out of the question. Not to mention that this will never happen; Satoshi has had every opportunity to be a billionaire and has never taken it. He's not going to take it now.

[RealJoshuar]

Satoshi, bitcoin is extremely volatile and run by organizations now, not the people.

Bitcoin volatility is well documented, but do you have a source in saying that Bitcoin is being run by an organizations?

There's constant forks such as Bitcoin Cash and other garbage that shows just how jokey the coin is.

I actually think forks show the exact opposite; it makes a great foundation for some shitcoin some random person is trying to launch. Fact of the matter is, most altcoins were based off Bitcoin, which is a testament as to how solid it is.

The only thing worthwhile is the blockchain itself and I honestly believe this was not meant to function as a method of payment, but as a method of storage(Bitcoin's constant dramatic price changes, good and bad, show this)

It was meant as a method of payment. Whether it is ideal as a form of payment is up in the air. I personally believe it could be, and that its value will settle down once it actually gets a good chunk of adoption.

My resolution? Dump all your bitcoins on the biggest exchanges and destroy the currency, then start over.

I'm not sure this will destroy Bitcoin. It will cause a massive slide, yes, but recovery isn't out of the question. Not to mention that this will never happen; Satoshi has had every opportunity to be a billionaire and has never taken it. He's not going to take it now.

1) As you can clearly see on https://blockchain.info/pools Bitcoin mining is condensed into mostly a few pools. Coinbase themselves own the largest % of Bitcoins after Satoshi.

2) Constant forks that are "accepted" undermine Bitcoin, such as Bitcoin Cash, etc. This shows to the average person that Bitcoin is more like play money than anything substantial. Do you see there being any variants of the USD? No, there's only one United States Fiat

3) Bitcoin could never be anything close to an ideal method of payment. There is absolutely no way to solve Bitcoin's volatility currently, hence it will never become widely adopted. Not to mention once Bitcoin's are stolen, the action cannot be reversed(Like it could with banks, etc), and in the future quantamn computing will break into Bitcoin. Those few among many are reasons the average person will never use this crypto to buy groceries at the supermarket. Also, bitcoin is becoming used less, as Steam and others have stopped accepting it due to it's extremely slow confirmation times and high fees.

Bitcoin's exchange value is 100% speculative(it has no basis to it, it could drop to $100 by next week or go to $20,000), it's intrinsic value is based upon the $ it takes to mine one, which is less than $1500.

[jseverson]

1) As you can clearly see on https://blockchain.info/pools Bitcoin mining is condensed into mostly a few pools. Coinbase themselves own the largest % of Bitcoins after Satoshi.

What does mining have to do with anything? I agree that the hashpower isn't as well distributed as well as I would like it to be, but it shouldn't matter for as long as a single entity doesn't hold more than 50%.

2) Constant forks that are "accepted" undermine Bitcoin, such as Bitcoin Cash, etc. This shows to the average person that Bitcoin is more like play money than anything substantial. Do you see there being any variants of the USD? No, there's only one United States Fiat

No forks are actually accepted by the community as the true Bitcoin though. Every fork is a side project and an altcoin. The moment it forks from Bitcoin, it becomes a different entity which takes advantage of Bitcoin's open source nature to use its branding. There is only one Bitcoin just like there is only one United States fiat. Bitcoin to Bitcoin Cash is far more comparable to, say, the United States Dollar to the Australian Dollar -- they may share a portion of their name but they're different entities.

3) Bitcoin could never be anything close to an ideal method of payment. There is absolutely no way to solve Bitcoin's volatility currently, hence it will never become widely adopted. Not to mention once Bitcoin's are stolen, the action cannot be reversed(Like it could with banks, etc), and in the future quantamn computing will break into Bitcoin. Those few among many are reasons the average person will never use this crypto to buy groceries at the supermarket. Also, bitcoin is becoming used less, as Steam and others have stopped accepting it due to it's extremely slow confirmation times and high fees.

I respect that opinion. It's easy to be pessimistic towards Bitcoin's future as a method of payment because of how things have been going recently. However, there is no guarantee that quantum computing can break into Bitcoin. The slow confirmation times and high fees are also set to be addressed by future changes like the Lightning Network. Only time will tell.

[cyclesolo]

That would be very dangerous for the market. It would be better is the bitcoins would come out slowly but surely. It would cause a really unstable market.

[cx_primo]

Well i think satoshi is in first only but. Maybe maybe it also be famous and become hug exchange rate.

[RealJoshuar]

1) As you can clearly see on https://blockchain.info/pools Bitcoin mining is condensed into mostly a few pools. Coinbase themselves own the largest % of Bitcoins after Satoshi.

What does mining have to do with anything? I agree that the hashpower isn't as well distributed as well as I would like it to be, but it shouldn't matter for as long as a single entity doesn't hold more than 50%.

2) Constant forks that are "accepted" undermine Bitcoin, such as Bitcoin Cash, etc. This shows to the average person that Bitcoin is more like play money than anything substantial. Do you see there being any variants of the USD? No, there's only one United States Fiat

No forks are actually accepted by the community as the true Bitcoin though. Every fork is a side project and an altcoin. The moment it forks from Bitcoin, it becomes a different entity which takes advantage of Bitcoin's open source nature to use its branding. There is only one Bitcoin just like there is only one United States fiat. Bitcoin to Bitcoin Cash is far more comparable to, say, the United States Dollar to the Australian Dollar -- they may share a portion of their name but they're different entities.

3) Bitcoin could never be anything close to an ideal method of payment. There is absolutely no way to solve Bitcoin's volatility currently, hence it will never become widely adopted. Not to mention once Bitcoin's are stolen, the action cannot be reversed(Like it could with banks, etc), and in the future quantamn computing will break into Bitcoin. Those few among many are reasons the average person will never use this crypto to buy groceries at the supermarket. Also, bitcoin is becoming used less, as Steam and others have stopped accepting it due to it's extremely slow confirmation times and high fees.

I respect that opinion. It's easy to be pessimistic towards Bitcoin's future as a method of payment because of how things have been going recently. However, there is no guarantee that quantum computing can break into Bitcoin. The slow confirmation times and high fees are also set to be addressed by future changes like the Lightning Network. Only time will tell.

Unfortunately quantum computing can 100% break into Bitcoins PoW. It can also break any known crypography today. The issue is, centralized services, while they can be hacked, your money is still ensured and $ gained by the attacker(digital) would be rendered void and worthless by the government. So if your bank get's hacked, you have an insurance for upto 250,000$ in the USA. So yea the hacking is going to cause problems(privacy leaks, etc), but not a total disruption.

However, if Bitcoin PoW were to be hacked, it's game over, the currency is dead from that point on. The reason being is because once your coins are stolen, you cannot get them back. There is no insurance. The only question is when will this hack occur, 5 years, a decade from now? That is unfortunately, a huge flaw in a crypto like this. The future of cryptocurrency is not bitcoin, it's a currency with a built in, very advanced A.I(this right now isn't even remotely feasible, so I'm talking maybe a few decades in the future).

The future of money as a whole, is not cryptocurrency either. In the advent of the internet shutting down or being disrupted for whatever reason, there would be no feasible way to use any cryptocurrency(crypto's require the internet). However, physical fiat would not be affected.

[cryptopov]

Satoshi, bitcoin is extremely volatile and run by organizations now, not the people. There's constant forks such as Bitcoin Cash and other garbage that shows just how jokey the coin is. The only thing worthwhile is the blockchain itself and I honestly believe this was not meant to function as a method of payment, but as a method of storage(Bitcoin's constant dramatic price changes, good and bad, show this)
 
My resolution? Dump all your bitcoins on the biggest exchanges and destroy the currency, then start over.

You can probably do that or if you want i will buy your BTC with 50% off in google's price,you should go first before anyone will follow.You shouldnt be using bitcoin if you do not believe in the technology behind it which is the blockchain.