Is it bad to own and control over 1,100,000 Bitcoins?

[phillymogul]

I came across this article
https://www.businessinsider.com.au/bitcoin-craig-wright-5-billion-lawsuit-2018-2?utm_source=Business+Insider+Australia

Craig Wright, the Australian technology entrepreneur who once claimed to have been behind the creation of bitcoin,
is being sued by the family of his dead former business partner Dave Kleiman. The lawsuit claims Wright wrongly
gained control over "huge amounts of bitcoin that would be worth over $US10 billion today".

So I wanted to know if you -- "owned and controlled over 1,100,000 Bitcoins" with market value over $US10 billion --
What types of things would you do that you don't do now? Would you become ruthless as a person? Who would you sue?

Thoughts?

[TheGodFather]

I came across this article
https://www.businessinsider.com.au/bitcoin-craig-wright-5-billion-lawsuit-2018-2?utm_source=Business+Insider+Australia

Craig Wright, the Australian technology entrepreneur who once claimed to have been behind the creation of bitcoin,
is being sued by the family of his dead former business partner Dave Kleiman. The lawsuit claims Wright wrongly
gained control over "huge amounts of bitcoin that would be worth over $US10 billion today".

So I wanted to know if you -- "owned and controlled over 1,100,000 Bitcoins" with market value over $US10 billion --
What types of things would you do that you don't do now? Would you become ruthless as a person? Who would you sue?

Thoughts?

I don’t have any question regarding your concern on the big number of bitcoin coins that you are holding as long as you don’t have any regrets on it and you would still have enough to spare that even if bitcoin and the cryptocurrency market would fall and shutdown then you can still lige off the money that you are holding in the realm of paper money. However with how bitcoin is trending, having that bitcojn coin is like a real fortune that you should be happy of

[First77]

Bitcoin was $1 in 2009. Dave Kleiman should have sold all the Bitcoins at $500. It is like Greedy people took money from greedy people.

1,100,000 x $500 = $55,000,000. People who say Bitcoin $3000 or $4000 are greedy people/super gamblers.

[NorrisK]

It has been almost completely debunked that Craig Wright is satoshi... He is just an attention whore that used some trickery to make some semi beleiveable proof that the press ran off with. After that, he hasn't done anything to prove he is satoshi.

It would be as simple as signing a new message with one of the old addresses associated with satoshi, but he hasn't done this. Therefore it is almost certain that he has no control over the coins and is not satoshi.

[Coffee_Lover]

I came across this article
https://www.businessinsider.com.au/bitcoin-craig-wright-5-billion-lawsuit-2018-2?utm_source=Business+Insider+Australia

Craig Wright, the Australian technology entrepreneur who once claimed to have been behind the creation of bitcoin,
is being sued by the family of his dead former business partner Dave Kleiman. The lawsuit claims Wright wrongly
gained control over "huge amounts of bitcoin that would be worth over $US10 billion today".

So I wanted to know if you -- "owned and controlled over 1,100,000 Bitcoins" with market value over $US10 billion --
What types of things would you do that you don't do now? Would you become ruthless as a person? Who would you sue?

Thoughts?

I do believe that people change because of money. It’s like this: a poor, kind-hearted and generous person becomes instantly rich. He said we won’t change his attitude even if he is rich but all of a sudden he’s become greedy, selfish and too proud of himself. Did he become ruthless? Yes.

If I will be a billionaire, I cannot foresee the future and tell you that I won’t be ruthless. I might change as well. I just hope that I won’t be blinded by the material things and ask my Savior to guide and enlighten me all the way.

[Pan Troglodytes]

It has been almost completely debunked that Craig Wright is satoshi... He is just an attention whore that used some trickery to make some semi beleiveable proof that the press ran off with. After that, he hasn't done anything to prove he is satoshi.

It would be as simple as signing a new message with one of the old addresses associated with satoshi, but he hasn't done this. Therefore it is almost certain that he has no control over the coins and is not satoshi.

It would be a fate's irony if he were sentenced by court order to give the $10 billions in bitcoins he even doesn't himself posses back to Dave Kleiman's family. If he just pretended to control them to inpersonate Satoshi.

I would laugh so hard!

[SakinaPrincess]

Probably this is something behind the scenes, it definitely doesn't have anything to do with the amount of bitcoins but something else.

[VitKoyn]

I came across this article
https://www.businessinsider.com.au/bitcoin-craig-wright-5-billion-lawsuit-2018-2?utm_source=Business+Insider+Australia
Craig Wright, the Australian technology entrepreneur who once claimed to have been behind the creation of bitcoin,
is being sued by the family of his dead former business partner Dave Kleiman. The lawsuit claims Wright wrongly
gained control over "huge amounts of bitcoin that would be worth over $US10 billion today".
So I wanted to know if you -- "owned and controlled over 1,100,000 Bitcoins" with market value over $US10 billion --
What types of things would you do that you don't do now? Would you become ruthless as a person? Who would you sue?
Thoughts?

Owning a huge amount of Bitcoin like millions is not a bad thing because no one really knows if you own some unless you announce it on public. The problem with this is Craig Wright was accused of stealing those Bitcoin which is owned by Dave Kleiman after he died and of course it is illegal. But as far as I know there are still no proof that it was really a stolen Bitcoins, so I'm looking forward to see what will happen with this case. To answer that question, If I own that huge amount of coins, I would not tell anyone that I own any amount of cryptocurrency (that will solve everything), cash out half of it and enjoy my life.

[jseverson]

He isn't being sued because he allegedly controls 1.1m Bitcoins (he claims to only have around 700k though), he's being sued because of the way he supposedly acquired them. I don't like that a single entity could hold like 5% of the entire amount that could ever circulate, but nothing is inherently wrong with that. I would rather not take a position on whether or not the allegations are true.

I would probably just hold quietly, spending here and there, but I imagine there are others who might want to use them to position themselves into a trading advantage.

[frowsiter]

Why would I sue anyone. I will just get half of them sold and cash them out into my bank account. Will pay the taxes for this transaction and will get retired. Will start building huge mansion for me and will get all of my family retired as well. Surely the world tour would be my dream. Will leave like legends by joining big wealthy club. Will leave only on 8 starred hotels and people at my services all the time who will get paid nice handsome payout.

I dont understand why they have to go in wars all the time when they huge money like this. You can enjoy heavenly life if you that much money.

Oh, about the remaining half money, I will keep it as it is just in case I get into trouble like this. Lolz.

[Sithara007]

Bitcoin was $1 in 2009. Dave Kleiman should have sold all the Bitcoins at $500. It is like Greedy people took money from greedy people.

1,100,000 x $500 = $55,000,000. People who say Bitcoin $3000 or $4000 are greedy people/super gamblers.

Who told you that Bitcoin  was worth $1 in 2009? As per the exchange rates from New Liberty Standard, the exchange rate was less than $0.001 at that time (and for most part of 2010). So Mr. Kleiman's share (if there was any) was worth around $500 and I believe that Mr. Wright should give his family $500 plus annual interest at a rate of 4% (if there is any merit in the lawsuit).

[batang_bitcoin]

He is just an attention

You have said the reality on his showy proclaiming that he's the genius satoshi.

What types of things would you do that you don't do now? Would you become ruthless as a person? Who would you sue?

I'll definitely live peacefully and I will keep myself low key. There's no need to broadcast that I own such amounts and with the case of Wright and Kleiman, they should talk about it privately.

[hasmukh_rawal]

In my opinion, it is definitely bad to own such a big amount of BTC. Bitcoin is very volatile since its price keeps going up and down. If a person holds such a big amount just imagine what will be the value of bitcoin if he sells it all. The price will definitely drastically decrease.
The other problem is that selling such a big amount will be a big problem since banks these days dont support such a big transactions. Traders also wont be trading for cash at such volumes.

[plasmafrog75]

Probably this is something behind the scenes, it definitely doesn't have anything to do with the amount of bitcoins but something else.

Of course, if an account contains a lot of Bitcoins there will be a lot of risk of hackers attacking and stealing, I think that the virtual currency is not strictly protected, so hackers attack It is straightforward, in addition to owning many Bitcoin such an investor certainly has a lot of experience in the business, and this is interesting.

[First77]

Who told you that Bitcoin  was worth $1 in 2009? As per the exchange rates from New Liberty Standard, the exchange rate was less than $0.001 at that time (and for most part of 2010). So Mr. Kleiman's share (if there was any) was worth around $500 and I believe that Mr. Wright should give his family $500 plus annual interest at a rate of 4% (if there is any merit in the lawsuit).

I am saying if Dave Kleiman or his family had sold 110,000 Bitcoins at $500, now they would have $55 million in their bank accounts. Sell at the right time.

[kiver]

Well personally i don't care if anyone have that amount of money in general but in a situaion like bitcoin this huge amount of the spcified crypto currency in the hand of the wrong guy could be dangrous to the whole market it could be a way to manpulate the crypto market more than its already does. I hope its in the hand of a guy who understand the big vision about bitcoin....

[coinwizard_]

If he is the real satoshi then he can provide proof to the bitcointalk admins and they will unblock his account so he can post a message here. If he can't provide proof then it's just a hoax scammer - too many of those around these days

[zenrol28]

Well, it's not bad owning that amount of bitcoins. But it's very dangerous if someone knows that you own that much. Like in some news around, some people got kidnapped, robbed and someday i will not be surprised if someone is killed because of his / her ownership of bitcoins. And if I own that, I'll disconnect myself to the world just like what satoshi did. He knew this could happen.

[ogini]

It is not bad to gain wealth but it will be so foolish to be a rude person if you gained such wealth and you no longer have regard for individuals,money is power with money you earn respect.

[BTCLovingDude]

if "I" say that I am Bill Gates, will you believe me or will you ask for a poof?

the same thing is true when some asshole scammer claims to be Satoshi Nakamoto. we ask him for proof. and since not only he failed to provide the proof but also evaded every request in a shady way, that means he is NOT satoshi and does not own the coins that he claims to own. he is indeed a scammer who might have bought bitcoin at some point or stolen some from some poor soul.