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Author Topic: Fork and Destroy Satoshi's 1 million Bitcoin?  (Read 12557 times)
Ucy
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April 13, 2019, 10:53:19 AM
 #1

 Bitcoin should be forked and Satoshi's 1 million Bitcoin destroyed completely, if he really owns that much.
A sudden withdrawal of of 1 million (or large gradual withdrawals) should be regarded as an attack on Bitcoin.

Or it should be frozen for now until developers are sure no one is going to withdraw the whole thing and crash the market.

 
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April 13, 2019, 11:02:28 AM
Merited by LoyceV (1)
 #2

A sudden withdrawal of of 1 million (or large gradual withdrawals) should be regarded as an attack on Bitcoin.

How is withdrawing 1 million BTC an "attack" on bitcoin? It's Satoshi's money. Let him do whatever he wants with his money. He can spend it all on blackjack and hookers and hell do I care how he wants to spend it.

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April 13, 2019, 11:21:42 AM
 #3

People like to complain about altcoins with a premine but bitcoin essentially has a premine as well.  Its not like anyone else really even knew about bitcoin back then and those that did weren't really interested.

If people want to fork and block those coins I would be fine with it, it is a community decision after all.  If Satoshi really cared about the money he could spend it beforehand, a lot of new investors are scared he will come and dump on the market someday.
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April 13, 2019, 11:40:31 AM
 #4

Bitcoin should be forked and Satoshi's 1 million Bitcoin destroyed completely, if he really owns that much.
A sudden withdrawal of of 1 million (or large gradual withdrawals) should be regarded as an attack on Bitcoin.

Or it should be frozen for now until developers are sure no one is going to withdraw the whole thing and crash the market.

Why Satoshi's million BTC should be destroyed completely and who has the right to do so? Even if he really owns that much, then it is his own right to do everything with it. He created it, he owns it and he has the right to withdraw/sell or even burn it anytime he wish.
You have too wild imagination to destroy what other's have.




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April 13, 2019, 12:06:27 PM
 #5

If you will allow that, what would prevent them to do another fork if they see another address accumulating bitcoin? Then bitcoin will be useless because of the endless fork.

Besides, satoshi has the right to own that bitcoin just like you have the right to own the bitcoin you currently possess. Are you turning bitcoin into a government that can freeze or capture your money if they want to?

 
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April 13, 2019, 12:23:58 PM
Merited by o_e_l_e_o (1)
 #6

I am totally against this. Satoshi created the coins fair and square. And no Bitcoin does not have a premine. Premine is when blocks are mined before public release. Other people were mining in 2009/2010 at the same time as Satoshi. If you were to accumulate large amounts of coins would you be okay with the network forking to negate your holdings? Lastly this would set a bad presendent for decentralizated networks going foward.
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April 13, 2019, 12:24:07 PM
 #7

Fork what you like, just don't assume people will naturally want to follow your fork.  I suspect anyone who respects property rights will not be following a chain that advocates theft.  This topic has come and gone so many times now and yet some people still don't seem to understand the concept of ownership after all these years.

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April 13, 2019, 01:02:25 PM
 #8

Are you thinking that bitcoin creator is a fool person? A fool person can't create this kind of advanced technology. So how are you thinking that satoshi might withdraw his/her 1 million bitcoin at a time? Why he/she will want to dump his/her created coin? New fork/upgrade will not acceptable by community is it's not done by satoshi himself. So I don't think upgrade is possible without satoshi. And there is no reason to destroy his/her btc. How greedy are you, how you wondering that creators bitcoin should destroy. If other people try to make fork then it will different coin, it would not be bitcoin.

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April 13, 2019, 01:05:12 PM
 #9

Bitcoin should be forked and Satoshi's 1 million Bitcoin destroyed completely, if he really owns that much.
A sudden withdrawal of of 1 million (or large gradual withdrawals) should be regarded as an attack on Bitcoin.

Or it should be frozen for now until developers are sure no one is going to withdraw the whole thing and crash the market.

Very stupid idea. Apart from the miners, I don't think that anyone else is going to support such a move. If you destroy the 980,000 coins that Satoshi own and redistribute these coins to future mining reward, then all of us will face losses. It will create additional supply of coins to the market and the prices can crash quite heavily. It may trigger a correction, which can last for many years.

 
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April 13, 2019, 02:00:42 PM
 #10

Bitcoin should be forked and Satoshi's 1 million Bitcoin destroyed completely, if he really owns that much.

feel free to create your own fork altcoin from the current bitcoin because nobody ever wants a bitcoin that allows others to spend their coins based on arbitrary reasons they think of.

if we start with coins that you claim are Satoshi's then there is no stopping there. next someone else will come and say let's spend Ucy's coins because i don't like the guy's name. and we must follow that fork too if we follow your fork.

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April 13, 2019, 02:30:59 PM
 #11

Bitcoin should be forked and Satoshi's 1 million Bitcoin destroyed completely, if he really owns that much.
A sudden withdrawal of of 1 million (or large gradual withdrawals) should be regarded as an attack on Bitcoin.

Or it should be frozen for now until developers are sure no one is going to withdraw the whole thing and crash the market.

how about start by destroying your own bitcoins to prove how noble your idea is before desiring that other peoples coins should be destroyed

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April 13, 2019, 05:26:24 PM
 #12

Bitcoin should be forked and Satoshi's 1 million Bitcoin destroyed completely, if he really owns that much.
A sudden withdrawal of of 1 million (or large gradual withdrawals) should be regarded as an attack on Bitcoin.

Or it should be frozen for now until developers are sure no one is going to withdraw the whole thing and crash the market.
This person or a group of people gave us something we all value, and this is how you want to express gratitude? By destroying the money or taking it away? And for what, only out of fear that once this money might be withdrawn and make the market bleed? How many whales would panic if such a fork went through? First Satoshi's money, their fund can be the next to go, right? Not to mention the FUD such an event can generate. Some say you can fork whatever you want, just don't expect others to join you. I, however, think that a person who cares about Bitcoin and the market would not go for an idea that can split the community into two once again, making it weaker.

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April 13, 2019, 07:20:06 PM
 #13

Bitcoin should be forked and Satoshi's 1 million Bitcoin destroyed completely, if he really owns that much.
A sudden withdrawal of of 1 million (or large gradual withdrawals) should be regarded as an attack on Bitcoin.

Or it should be frozen for now until developers are sure no one is going to withdraw the whole thing and crash the market.
What do you mean by destroy, you can't destroy bitcoin otherwise it defies the whole idea of it being the crypto that it is today, it is true that 1 million bitcoin is not something that needs to be taken lightly and if at some point that amount as you said would be moved either at one time or gradually from one address it will bring a lot of drama and controversial to the bitcoin market and community, but at least we know that such thing would not to happen as i don't think satoshi himself would do anything that will influence bitcoin in a bad thing at least not after all these years.

 
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April 13, 2019, 07:38:06 PM
 #14

It's going to be a tough sell to convince the community and developers to accept a fork for the sole purpose of destroying the coin accumulation of one individual, the creator of Bitcoin, especially because your sole reasoning is "Satoshi has too many BTC."

I have always seen those addresses as a "security bounty", anyways.

 
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April 13, 2019, 07:41:53 PM
 #15

And yet some investors agree with the kept tokens of the team in one ICO project?
Why not the creator of bitcoin can keep his own part.
And to also add up he did not get it for free. He mined those coins and believed in the technology that he created.

Why not try to be on his position and what if someone tells you to do the same? Destroy your owned coins because you own it? C'mon!

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April 13, 2019, 07:46:45 PM
 #16

Bitcoin should be forked and Satoshi's 1 million Bitcoin destroyed completely, if he really owns that much.
A sudden withdrawal of of 1 million (or large gradual withdrawals) should be regarded as an attack on Bitcoin.

Or it should be frozen for now until developers are sure no one is going to withdraw the whole thing and crash the market.


Why should Satoshi's 1 million Bitcoin be destroyed?

I think you should just burn your own coins!

Satoshis bitcoins can if he never claims them, maybe one day be used to pay miners to continue their mining operations, but this should not be necessary for the next many decades, but his coins should be enough to pay for mining rewards for hundreds or even thousands of years.
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April 13, 2019, 07:47:46 PM
 #17

Bitcoin should be forked and Satoshi's 1 million Bitcoin destroyed completely, if he really owns that much.

Yeah, bring the pitchforks and let's burn all his coins, the damn kulak
To be really honest I'm amazed you haven't proposed that the coins should be redistributed to the addresses with a balance of less than two satoshis.

Oh, and there is one fork, don't remember if it's bitcoin diamond/silver/platinum or whatever that claimed it will destroy every coin before block xxxxx, till satoshi's disappearance.


eaLiTy
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April 14, 2019, 01:30:26 AM
 #18

Bitcoin should be forked and Satoshi's 1 million Bitcoin destroyed completely, if he really owns that much.
A sudden withdrawal of of 1 million (or large gradual withdrawals) should be regarded as an attack on Bitcoin.

Or it should be frozen for now until developers are sure no one is going to withdraw the whole thing and crash the market.
If anyone is able to destroy those bitcoin from the genesis block, the entire system will crash without a doubt, do you really know the reason why people are investing in bitcoin and why the market has flourished to a multi billion market, it is simply because of the trust in the system and another factor is  decentralization, if anyone is able to destroy the coins then that trust factor is diminished, so think carefully what you wish for  Tongue.

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April 14, 2019, 02:50:11 AM
Merited by eaLiTy (1)
 #19

and what exactly gives you the authority to decide what other people do with amounts of bitcoin they have? Satoshi or anybody else having a large amount of bitcoin is none of anybody's business. that is why bitcoin is bitcoin not some shitcoin!
and why don't you start with this address and all the others that are linked to it (which belongs to you):
https://www.blockchain.com/en/btc/address/1KkDVZKQyC9am8S2Kw3Skvu3nbTYbFiome
i say lets burn your coins first because your username here has 3 letters and i don't like it, that is the same reasoning you are using to burn Satoshi's coins anyways Cheesy

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April 14, 2019, 05:02:16 AM
 #20

1 Satoshi owns 1 million Bitcoin, so he has the right to sell them if he wants to. If he wants to destroy the market why not sell them in 2017 when Bitcoin reaches $ 20,000? The Hard Fork is foolish, and I don't like these events happening.

Why would he want to destroy something that he has invented? For the second part of your question, there are two possible explanations. The first one is that he probably has lost the private keys to the wallets and therefore he is unable to spend the coins. If that is not the case, then he is waiting for even higher prices to sell his coins.

 
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