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Author Topic: What if satoshi dumped his 1 million bitcoins?  (Read 174 times)
turtletime
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July 05, 2018, 07:16:36 PM
 #1

Anyone else worried the bitcoin price could crash if Satoshi decides to cash out all his bitcoins one day.
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jackg
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July 05, 2018, 07:40:53 PM
 #2

It would depend on how many people he sold his bitcoins to as to whether the price would crash and if he did it incremently. If he sold it to one person with all the money to pay for them at the regular value then it might not fall at all, especially if that person wants to hodl it for a while (if the coins were sent to me for example I wouldn't spend them for at least a decade so in that time the price would recover).

As another point, in the past 9 years, he may have lost his private keys in order to try to hide a bit better and remain more anonymous (if he never wants to be found at all).

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July 05, 2018, 08:36:57 PM
 #3

most people think Satoshi is dead.  I believe he would of already sold his coins if he was only in this for the money.

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July 05, 2018, 08:55:32 PM
 #4

Anyone else worried the bitcoin price could crash if Satoshi decides to cash out all his bitcoins one day.

Satoshi is probably dead by now. I don't see him dumping any coins any time soon. If he was going to dump then it would have happened at 20k
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July 05, 2018, 09:13:57 PM
 #5

Satoshi have a long vision and so much belief in BTC.
This is the future guys , Blockchain technology have come to stay.
Why should he sell for a penny when BTC will still go 7 figures.

If at all he wants to sell , he won't sell at once.
The coins is on different wallet as seen on different blocks from Block 1.
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July 05, 2018, 09:47:52 PM
 #6

If he sold it to one person with all the money to pay for them at the regular value then it might not fall at all

yeah, markets would not be crashed by the giga order.
however, will people continue to believe in BTC ? today, satoshi still hasn't touched his bitcoin. if they move, not necessarily on an exchange, I think people would dump bitcoin.
he still can sell the private keys without needing to sign a transaction but man, keys to 1M BTC ...

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jackg
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July 05, 2018, 10:05:48 PM
 #7

If he sold it to one person with all the money to pay for them at the regular value then it might not fall at all

yeah, markets would not be crashed by the giga order.
however, will people continue to believe in BTC ? today, satoshi still hasn't touched his bitcoin. if they move, not necessarily on an exchange, I think people would dump bitcoin.
he still can sell the private keys without needing to sign a transaction but man, keys to 1M BTC ...

I'm not sure I'd trust buying a private key, even things like casascious coins look somewhat an unusual buy just in case Mike Caldwell kept all of those private keys.

And money you can't touch isn't great, if you move 1btc at a time it might be less noticeable unless the keys became a collector's item themselves (maybe they already have). But that's still quite dangerous.

Anyone else worried the bitcoin price could crash if Satoshi decides to cash out all his bitcoins one day.

Satoshi is probably dead by now. I don't see him dumping any coins any time soon. If he was going to dump then it would have happened at 20k
Or when it was $200 or $50 or $2000? Maybe he's holding for a reason.

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July 06, 2018, 03:46:26 AM
 #8

Let's not discuss whether this person exists.
If such an incident occurs, it will be a disaster for BCT and the entire encrypted coin market, at least I think so.
I hope that such a thing will never happen.

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Crypto_Sassy
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July 06, 2018, 03:59:21 AM
 #9

Anyone else worried the bitcoin price could crash if Satoshi decides to cash out all his bitcoins one day.
I will be happy, opportunity for buying in dip.


It would depend on how many people he sold his bitcoins to as to whether the price would crash and if he did it incremently. If he sold it to one person with all the money to pay for them at the regular value then it might not fall at all, especially if that person wants to hodl it for a while (if the coins were sent to me for example I wouldn't spend them for at least a decade so in that time the price would recover).

As another point, in the past 9 years, he may have lost his private keys in order to try to hide a bit better and remain more anonymous (if he never wants to be found at all).

Might be he donated all of it  and now holding nothing.

If such an incident occurs, it will be a disaster for BCT and the entire encrypted coin market, at least I think so.

Think otherwise, 1 million bitcoin can bring 100 million people in bitcoin holding .01 BTC in average. Price will rise after mass adoption.
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July 06, 2018, 04:28:09 AM
 #10

i blame altcoins for this mentality that they have created among the newbies. a couple of years ago you never saw this question be asked this many times. but nowadays you see this being asked every other day.

it is because they look at altcoin devs and see that their only goal for creating that altcoin was to make money, they premine a huge amount of that coin and then when there is a rise they dump the coins (like Vitalik dumping 1 million ETH when it was $1500) so they think Bitcoin was created for the same reason!!! but they forget that bitcoin is the only "currency" and Satoshi created it to perform as a currency not something he sells to make money like the altcoin devs do.

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July 06, 2018, 06:54:55 AM
 #11

When it was announced that the Silkroad coins would be sold on auction a few years ago, the price dropped a little. This is a clear indication that the market reacts on news like this. So I presume that the mere movement of 1 coin from the Million coins that Satoshi mined, would send the market into a Selling frenzy and this will push down the price.

There are so many trigger happy speculators in the Bitcoin market these days, that a event like this will spark a massive dump of coins onto the market. I will be one of the people who would be waiting with open arms, to collect all these cheap coins.  Grin

If I had access to only one of Satoshi's private keys, I would sell 1 coin immediately to flush out all these speculators that are manipulating the Bitcoin market price.  Angry 

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July 06, 2018, 09:17:51 AM
 #12

I doubt that any Bitcoins associated with him will ever be sold. To him is was never about the value of a single Bitcoin, or getting rich. Just my opinion.
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July 06, 2018, 10:02:40 AM
 #13

 if Nakamoto were to put his coins up for sale, the entire market would be flooded, and the Bitcoin price would tank. bitcoin may be removed from the king position
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July 06, 2018, 11:36:08 AM
 #14

When it was announced that the Silkroad coins would be sold on auction a few years ago, the price dropped a little. This is a clear indication that the market reacts on news like this. So I presume that the mere movement of 1 coin from the Million coins that Satoshi mined, would send the market into a Selling frenzy and this will push down the price.

There are so many trigger happy speculators in the Bitcoin market these days, that a event like this will spark a massive dump of coins onto the market. I will be one of the people who would be waiting with open arms, to collect all these cheap coins.  Grin

If I had access to only one of Satoshi's private keys, I would sell 1 coin immediately to flush out all these speculators that are manipulating the Bitcoin market price.  Angry 

Maybe you could earn coins without selling any of the million. I.E. I won't sell any of the coins if I get a total of 1BTC to my address monthly Grin.

And everyone is really too trigger happy, I'd be the same if actively trading which is why I don't look at the exchange rates. I doubt it'll fall below $1k per Bitcoin anyway at the moment.

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July 06, 2018, 11:48:22 AM
 #15

Hard to imagine he'd come to crash his own project to begin with! and since he's maybe not alive nor is it a he nor it is a singular individual..
but, I can't see any other way other than such a large amount leading to everyone dumping the moment his wallets show signs of life.
if that happened, it seems difficult to imagine people actually coming back, "final nail in the coffin" to bring in more insecurity into the market?

maybe he got some smaller older wallets that he could use. why would he just make a few wallets and disappear if he intended to come dump it all, unless he wanted to kill it?

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July 06, 2018, 02:00:20 PM
 #16

We are not even sure if satoshi created bitcoin.There are stories that bitcoin is created in Slovenia.Also there is another stroy that bitcoin is created by some people from America and he had support from NASA.So if even he is creator I am sure that he will not sell own bitcoins for smaller price,he would better go to sell little today,little tomorrow,little next week until he sold all bitcoins because only by that way he can get more money.If that happents but that should not happent price will drop for sure because some traders will be in panic and they will sell for less money.Best option for 1 million bitcoin owner is to HODL all coins.
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July 06, 2018, 03:31:16 PM
 #17

I doubt he would go and crash his own party, would he?
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July 06, 2018, 03:41:41 PM
 #18

We are not even sure if satoshi created bitcoin.There are stories that bitcoin is created in Slovenia.Also there is another stroy that bitcoin is created by some people from America and he had support from NASA.So if even he is creator I am sure that he will not sell own bitcoins for smaller price,he would better go to sell little today,little tomorrow,little next week until he sold all bitcoins because only by that way he can get more money.If that happents but that should not happent price will drop for sure because some traders will be in panic and they will sell for less money.Best option for 1 million bitcoin owner is to HODL all coins.

Yes there are a lot of stories about where is was created/released: US/UK (the thing about the financial crisis)/Australia (Craig wright - fake satoshi)...
I doubt he would go and crash his own party, would he?
Maybe he'd hope it would be stable enough to be able to use them.


there's also a question as to whether he'd be able to use them and get the transactions confirmed, the network might run against any mining he does and blacklist any nodes that broadcast transactions from his address. They don't want the value of the coin to plummit do they?

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July 06, 2018, 07:40:00 PM
 #19

if Nakamoto were to put his coins up for sale, the entire market would be flooded, and the Bitcoin price would tank. bitcoin may be removed from the king position

It would, but let's face it. The real value of BTC is dictated by a fraction of the supply that is being traded. If holders decided to sell we'd also have a crash, and the other way round, if someone really rich  (like forbes 100) put most of his money into BTC, he'd be able to completely empty one of the exchanges and create a temporary rally where people wouldn't know what's going on and buy just in case.
IMO Satoshi selling wouldn't destroy BTC, it would cause a huge crash but I'm pretty sure that in time it would recover.

Of course this will never happen. He'd have to use an exchange to crash prices and a person like him values privacy more than wealth. BTW, you don't know how many coins he had on the side. Even if he had 100 coins saved up on another address (coins that he mined himself) and sold them last year, he'd have enough to live comfortably and relatively safe.

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July 06, 2018, 08:04:40 PM
 #20

He is the inventor of Bitcoins and Bitcoins growth is in his interest, so I don't think I will contibute to anything that will bring bitcoin down by dumping his shares in it to make it worthless.
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