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Author Topic: What if satoshi dumped his 1 million bitcoins?  (Read 173 times)
JohnTycoon
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July 06, 2018, 09:25:34 PM
 #21

The legend says that he (or she??) has lost his coins or the keys so the dumping could only be theoretical. But, anyway, if it happens I will buy them all.
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jackg
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July 06, 2018, 09:53:30 PM
 #22

The legend says that he (or she??) has lost his coins or the keys so the dumping could only be theoretical. But, anyway, if it happens I will buy them all.

Really??? A computer scientist with enough intelligence to build a cryptocurrency from scratch doesn't know how to make backups, I find that unlikely!
I mean he might have destroyed them so no one steals them but not lost them accidentally.

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.

But why not? If you'd made a project and you could make $1bn from it, would you also not sell and sit holding your private keys intead postulating anything you could actually do with them.

Kakmakr
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July 07, 2018, 08:35:51 AM
 #23

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.

Agreed. I would rather dump some coins that nobody can link back to me on some service that gives interest on Bitcoin deposits and live off the interest that I receive from that. < I currently receive interest at AsMoney & Freebitco.in on some of my bitcoins > Some of these sites gives like 4% interest on your deposits, so you can live comfortably off the interest of 100 or so bitcoins.  Roll Eyes

Satoshi have enough IT skills to work anonymously in any way, so he might be getting money from freelance work.  Wink

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July 07, 2018, 10:39:24 AM
 #24

Anyone else worried the bitcoin price could crash if Satoshi decides to cash out all his bitcoins one day.
the market will definitely dump and bitcoin might go to  $100 per 1
jackg
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July 08, 2018, 10:38:49 AM
 #25

Agreed. I would rather dump some coins that nobody can link back to me on some service that gives interest on Bitcoin deposits and live off the interest that I receive from that. < I currently receive interest at AsMoney & Freebitco.in on some of my bitcoins > Some of these sites gives like 4% interest on your deposits, so you can live comfortably off the interest of 100 or so bitcoins.  Roll Eyes

Satoshi have enough IT skills to work anonymously in any way, so he might be getting money from freelance work.  Wink

I don't think freebitco.in can really generate that amount of profit from 100BTC I might be wrong though as it would allow them to increase their max jackpot amount.

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July 08, 2018, 05:56:59 PM
 #26

Satoshi is one of the biggest mysteries not even in crypto but maybe in the whole world so we could make many speculations about things that this guy could done, but the only answer we may be able to get will be in future, who knows what will happen.


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pixie85
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July 08, 2018, 08:47:54 PM
 #27

The legend says that he (or she??) has lost his coins or the keys so the dumping could only be theoretical. But, anyway, if it happens I will buy them all.

Don't tell anyone that you have enough cash to buy Satoshi's coins even at a discount. That would make you a nice target for a home invasion. That Russian youtuber got attacked for much less.I think that Satoshi, if alive, is still in control of his coins but chooses to hide. If he touched them many people would try to trace him.

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July 08, 2018, 10:32:48 PM
 #28

Anyone else worried the bitcoin price could crash if Satoshi decides to cash out all his bitcoins one day.
It will depend on so many factors. For example if Bitcoin is flying around $50K and we see that many people might speculate that even helped a pump to that price, but currently that the market has been bleeding for a long time, if we see that it can be chaotic.

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July 09, 2018, 01:31:53 PM
 #29

then the price will drop so low that the perfect moment to buy at the promotional price will appear.
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