El Extranjero
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Activity: 103
Merit: 10
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November 26, 2013, 03:09:22 PM |
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The better for us. Less bitcoin in circulation means their value increases due to high demand and high scarcity. Right?
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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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giletto
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November 26, 2013, 03:13:19 PM |
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Right, until a handful ppl decide to finish the raise.  |
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Lewis2
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Activity: 70
Merit: 10
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November 26, 2013, 03:20:20 PM |
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The better for us. Less bitcoin in circulation means their value increases due to high demand and high scarcity. Right?
No, less in circulation means that there is always a risk that at some point a shit ton of btc will be dropped on the market. Better to get it out of the way now, before it is widely used as a payment method! |
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Savior
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November 26, 2013, 03:48:51 PM |
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Satoshi has most likely less then 500k bitcoins. Does he/they still have access to them? Who knows. Will he/they dump them all at once? No, he/they won't, because he/they is obviously not a complete idiot.
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kwukduck
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Activity: 1937
Merit: 1001
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November 26, 2013, 04:21:22 PM |
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I can only hope for a whale like that to come along and dump them on the market, cheap Bitcoins for me and the price will bounce back as soon as the panic stops. Thanks in advance oh big holy whale!
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14b8PdeWLqK3yi3PrNHMmCvSmvDEKEBh3E
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PrFen
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November 26, 2013, 04:25:23 PM |
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they're in hands of u.s gov now
n Not yet. They have the encrypted wallet, but not the passcode. Maybe they never will, because I'm not convinced that this guy is DPR at all. He certainly is at least an employee, but then even he won't have access to the company funds. I am pretty sure that U.S. government can have access to his Bitcoins whenever they want. It would be normal to them to torture him until they get what they want. |
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niothor
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November 26, 2013, 04:28:56 PM |
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they're in hands of u.s gov now
n Not yet. They have the encrypted wallet, but not the passcode. Maybe they never will, because I'm not convinced that this guy is DPR at all. He certainly is at least an employee, but then even he won't have access to the company funds. I am pretty sure that U.S. government can have access to his Bitcoins whenever they want. It would be normal to them to torture him until they get what they want. Wait wait. Normal? Common , I've heard a few constipation theories but let's not get overboard. |
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PrFen
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November 26, 2013, 04:40:20 PM |
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they're in hands of u.s gov now
n Not yet. They have the encrypted wallet, but not the passcode. Maybe they never will, because I'm not convinced that this guy is DPR at all. He certainly is at least an employee, but then even he won't have access to the company funds. I am pretty sure that U.S. government can have access to his Bitcoins whenever they want. It would be normal to them to torture him until they get what they want. Wait wait. Normal? Common , I've heard a few constipation theories but let's not get overboard. This is my opinion. I am pretty sure that it is correct, but everyone should decide what to believe. |
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cainy393 (OP)
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December 10, 2013, 12:03:20 PM |
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they're in hands of u.s gov now
really? do they have the private key? would like to see their faces if an anonymous guy makes a transaction with those coins  No, the FBI got a hold on some wallets and sent the bitcoins to an address that they own. You can see them all here: http://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH |
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thesims
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Activity: 269
Merit: 250
Decentralize $15-Trillion Global Trade Industry
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December 10, 2013, 01:15:46 PM |
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Satoshi owned 6th of all existence bitcoin?
Anyway it is very impressive
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jongameson
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Activity: 84
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December 10, 2013, 02:07:54 PM |
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You're right, 400K is an estimate but from what I've read, the FBI have seized the company bitcoins but not his PERSONAL funds, of which there is an estimated 400K. And wow, at the current price that's over £200M
what is that, like 80 Papa John's pizzas? W0W! |
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allthingsluxury
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Activity: 1540
Merit: 1029
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December 10, 2013, 05:43:15 PM |
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You're right, 400K is an estimate but from what I've read, the FBI have seized the company bitcoins but not his PERSONAL funds, of which there is an estimated 400K. And wow, at the current price that's over £200M
what is that, like 80 Papa John's pizzas? W0W! |
Gold & Silver Financial News: Silver Liberation Army, Gold & Silver News, Geopolitical & Financial News, Jim Rickards Blog, Marc Faber Blog, Jim Rogers Blog, Peter Schiff Blog, David Morgan Blog, James Turk Blog, Eric Sprott Blog, Gerald Celente Blog |
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bitcoinpsftp
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Activity: 84
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December 10, 2013, 05:49:49 PM |
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This thread gets more interesting by the minute. I wonder if Satoshi is scared to come out to the public, or if he/they ever will. Maybe if bitcoins get super mainstream, he'll come out as a hero of some sort and open his own country with the money he has o_0
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kazzy
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December 10, 2013, 06:01:32 PM |
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I'm pretty sure Ross and Satoshi never worked together, They were just in the same forums.
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zimmah
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Activity: 1106
Merit: 1005
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December 10, 2013, 06:39:00 PM |
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Problem is that it is too much influence on price of bitcoin by the holder of this amount if it is true. More and more messages about people holding vast amount of bitcoin surface, giving a lot of power to a small amount of people.
What will the FBI do with the seized bitcoins by the way? Any speculations?
use it as a reserve currency in case the petrodollar fails. (at least that would be the smartest thing to do, even if it's only temporarily). |
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Jcw188
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December 10, 2013, 07:42:46 PM |
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How do we know Satoshi has so many BTC? I'm sure it must be possible he lost many of them or something went wrong and he doens't have them. Isn't it VERY unlikely if Satoshi is 1 or a few people that they are billionaires and no one knows who they are?
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Ecurb123
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December 10, 2013, 08:25:03 PM |
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I don't think it's a great thing that there are some people with all these coins, just too much power, but nothing we can do about it, just hope they use them for good.
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crazy_rabbit
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RUM AND CARROTS: A PIRATE LIFE FOR ME
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December 10, 2013, 08:33:39 PM |
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DPR took a large risk in getting that amount of bitcoin. and even if he does have vast wealth, would you trade places with him?
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more or less retired.
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MoonShadow
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December 10, 2013, 11:33:46 PM |
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I don't think it's a great thing that there are some people with all these coins, just too much power, but nothing we can do about it, just hope they use them for good.
A large accumulation of bitcoins implies only spending power, and nothing more. They have no more authority to effect another person's transactions or costs than you do. |
"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."
- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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MoonShadow
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December 10, 2013, 11:35:01 PM |
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This thread gets more interesting by the minute. I wonder if Satoshi is scared to come out to the public, or if he/they ever will. Maybe if bitcoins get super mainstream, he'll come out as a hero of some sort and open his own country with the money he has o_0 Why would Satoshi have to reveal him/her/themselves in order to do this? |
"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."
- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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