The curious case of the forum member distrusting Satoshi

[ranochigo]

I think he was smart to do so. I would suggest some DT1 members do so.

It is late and I am tired but I may consider doing it in the morning.

It is said he owns 1,000,000+ btc  and he just lets it sit.

It is not very trustworthy for him to have done this deliberatively as he could case huge damage to the market with cashing out those coins.

In a way we are all at his mercy.

What would happen to BTC if he simply went to block 10 and moved it? Followed by block 11 and just moved  about 10 blocks a day for a few months in a row.

Awful lot of power in 'his' hands.

Hmm? Honestly, it doesn't really matter if you trust him or not. The account is locked and it can't be unlocked without Theymos's approval. It really doesn't matter whether you exclude him on your trust list or not since he's most probably not going to leave trust rating or anyone else.

I also can't see how the fact that he's not touching his coins constitutes to him being untrustworthy; if anything, it's more like him doing us a favour by not moving them. Distrusting him solely based on this seems to be a bit extreme? 

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[philipma1957]

Satoshi is the US government, and we are all stupid to not believe otherwise, and who trusts the government

Strong chance that it has government  or big business all over it.

So to mark satoshi with a negative feedback and with and exclusion mark would be more reasonable then seems at first.

I wish I had the idea I would have done it just to have some fun.

If he was one guy he waited to long to cash early blocks.  By holding them he created a power that could hit BTC link a pandemic. So trusting him may not be too wise.

Yeah he could be a business.
He could be a government.
He could be dead.

But those early coins are a big threat and they serve to hold back the price of BTC.

So yeah to trust satoshi would be risky.
To invest long term hoping to reach 50k would be risky.
But what do I know.

[presduterte]

Alrite alrite. I am hear now so please calm your tits.

I would like to thank GazetaBitcoin for bringing this attention to my issue.

Though getting notified of it by message delivered to my email address at odd hours of the night was rude as it awaked me from my beauty sleep.


I had no idea what is causing this commotion and no intention to disrespect the Admiral of the Forum. I think my vice president must have logged into my account one day and make this change behind my back as a prank. Not very loyal. She has great legs but that is her only good quality.

I would undo this changes that draw the pitchforks and the downed thumbs but I am very old and very tired. Hay naku. Only 2 more years of this president thing and then I can finally retire. Maybe I will start a Bitcoin Farm at that point. In which case I shall return to ask for advice.

Until then fare well amigos.

Duterte Out.

[Insanerman]

--
What would happen to BTC if he simply went to block 10 and moved it? Followed by block 11 and just moved  about 10 blocks a day for a few months in a row.
--

Yet I don't see any use if he would dump the Bitcoin's price. Satoshi's wealth is already big enough, whether he's a single person or a mnemonic of a company/group. But one thing is for sure - that he already made a currency that turns other's financial instability into a wealth with certainty. It is indeed alarming to entrust your money onto a single and still anonymous user, yet how did we end up here? The world is slowly adopting the cryptocurrency especially Bitcoin, hence I don't see any necessary distrust and the good side still out-stand the negatives. UNLESS THIS IS REAL:

Satoshi is the US government, and we are all stupid to not believe otherwise, and who trusts the government

~

LOL I don't see this numerous nor anything related to the OP, doesn't even make sense and just a pure troll. We Filipinos here in the forum always separates our Political beliefs and how we interact in here. We've seen too many irrational wars on social media pertaining to the Political and Social issues of the country, please stop spreading the non-sense portrayals of someone I think you've hated so much. Not an avid fan nor a support of the government, but just a realistic user of the forum.

[GazetaBitcoin]

Alrite alrite. I am hear now so please calm your tits.

Well that was a sort of veni, vidi, vici, wasn't it?

presduterte is a bit of a contrarian troll but a good one (i.e. the trolling is fairly intelligent and not merely calling your mom a whore).

Suchmoon was right. I didn't know this user. Bringing him here was a waste of time.

[Pffrt]

Suchmoon was right. I didn't know this user. Bringing him here was a waste of time.

He didn't troll you, did he? He was fine with the explanation which you were looking for. Also, I really don't see a problem with putting someone in distrust list. Someone in my distrust list doesn't mean I didn't trust them, rather it mean I don't trust their feedback sending behavior. Although satoshi have sent no feedback.

[TheArchaeologist]

block 1 is supposed to be un cashable

Why did you come to this conclusion? Do you mean the coins from the coinbase transaction (hash 0e3e2357e806b6cdb1f70b54c3a3a17b6714ee1f0e68bebb44a74b1efd512098) of block 1? Beacuse these coins are prefectly spendable as long as you have the private key. Just as the extra .34597579 deposited to the address (12c6DSiU4Rq3P4ZxziKxzrL5LmMBrzjrJX).

The only coins proven not to be spendable are the 50 BTC rewarded for the Genesis block (block 0) with a hash of 4a5e1e4baab89f3a32518a88c31bc87f618f76673e2cc77ab2127b7afdeda33b. This is because although the transaction is in the blockchain, it was not added to the UTXO database. It is unclear if this was a bug or if this was intended. Hower all the 13+ BTC which have been deposited to the public key/address associated to the genesis block can be spent if you have the private key.

[GazetaBitcoin]

The only coins proven not to be spendable are the 50 BTC rewarded for the Genesis block (block 0)

I think he meant the Genesys block, yes. Some call it block 0 while others call it block 1, as it is actually the first mined block.

He didn't troll you, did he? He was fine with the explanation which you were looking for.

He didn't troll me, yes...But his explanation was in a very ironical manner, which was not the case here...He thanked me for bringing tge topic to his attention then he complained for receiving the email notification while having "the beauty sleep", like I could know at what time he received it (also I doubt that an email notification can wake up anyone); then he talked about the legs of his secretary and so on...trolling, but at a high degree level, not as a regular troll, as suchmoon explained.

[TheArchaeologist]

The only coins proven not to be spendable are the 50 BTC rewarded for the Genesis block (block 0)

I think he meant the Genesys block, yes. Some call it block 0 while others call it block 1, as it is actually the first mined block.

That would have made sense if the linked blocks 2,3,4 where actually for 1,2,3. In that case he just would have started counting from 1 instead of 0. But that is not the case. Just check the links yourself where block 1 (so not the genesis block) is skipped:

<snip>
block 1 is supposed to be un cashable

block 2 has 50.01477486 btc in it
below are blocks 2,3,4

https://www.blockchain.com/btc/address/1HLoD9E4SDFFPDiYfNYnkBLQ85Y51J3Zb1
https://www.blockchain.com/btc/address/1FvzCLoTPGANNjWoUo6jUGuAG3wg1w4YjR
https://www.blockchain.com/btc/address/15ubicBBWFnvoZLT7GiU2qxjRaKJPdkDMG

[LoyceV]

It he were to move block after block after block after block  it would crush the price.

None of that has anything to do with (dis)trusting satoshi's judgement. He can indeed crush the price, but didn't do it. Even if he would sell his coins, it would just lead to a better distribution with less coins on one big pile. And even if most users don't like it, (dis)trusting satoshi is not going to make any change. Besides, the account is banned to prevent it from getting compromised.
I'd love for satoshi to come back and join discussions here though.

So yeah to trust satoshi would be risky.
To invest long term hoping to reach 50k would be risky.

Satoshi never asked anyone to invest hoping to reach 50k. I don't think he even cares about the fact that he's a billionaire in most currencies. He created something really cool, and left it to the world to use.

[GazetaBitcoin]

So yeah to trust satoshi would be risky.
To invest long term hoping to reach 50k would be risky.

Satoshi never asked anyone to invest hoping to reach 50k. I don't think he even cares about the fact that he's a billionaire in most currencies. He created something really cool, and left it to the world to use.

This discussion reminded me about some of satoshi's words of wisdom.

If you don't believe me or don't get it, I don't have time to try to convince you, sorry.

The quote is from another context, but these words apply here.

P.S.: with this occasion I also learnt how to quote locked topics

[mikeywith]

I believe bitcoin has grown up so much to the extent that even satoshi can't do shit about it, 1m BTC is merely a 5%, people overreact to that amount for whatever reasons they see fit, but in reality a mediocre exchange like Huobi stores over a quarter of a million bitcoins in a single address , a few exchanges control a much larger amount of Bitcoin than satoshi and all other early-miners combined have, that poses a greater risk than Satoshi magically waking up and deciding to reveal himself.

What gives Bitcoin value are the people who believe in it, it's not the fastest to send, not the cheapest and doesn't even have the coolest logo but it survived all tests and it will only (logically) continue to do so, Satoshi is now history and if he ever shows up and starts moving his coins we will most certainly have a nice dip (not as bad as most people think) which will be a great opportunity to accumulate more of it, what happens after that is most likely more growth and higher prices.

Satoshi is the US government, and we are all stupid to not believe otherwise, and who trusts the government

I tend to disagree to this conspiracy, because no government is smart enough to invent something like Bitcoin.

[Rikafip]

It is said he owns 1,000,000+ btc  and he just lets it sit.

It is not very trustworthy for him to have done this deliberatively as he could case huge damage to the market with cashing out those coins.

In a way we are all at his mercy.

Dunno, somehow I think that if Satoshi really had some bad intentions, like amassing BTC and then dumping when price reach certain point, he would have done things differently, and definitely get more than 5% of the total supply. Him owning 5% of the total supply would be least of our concerns in that case. Anyway, I am not really afraid of that happening.

This is what guy that found those bitcoins think about chances of Satoshi dumping BTC
Patoshi Researcher: 'Satoshi won't use his coins ever’

[The Sceptical Chymist]

Completely irrelevant case, it is not a DT member and whom he trusts or does not trust is irrelevant.

Those are my thoughts as well--and I'm actually surprised more members don't have Satoshi ~'ed in their trust list given how many trolls we've got on the forum.  And I doubt there's going to be any DT members distrusting Satoshi anytime soon.

Dunno, somehow I think that if Satoshi really had some bad intentions, like amassing BTC and then dumping when price reach certain point, he would have done things differently

Yeah well, that's the great mystery of bitcoin's founder isn't it?  It'll certainly be an interesting story if and when his name ever gets revealed with certainty.

[mindrust]

Satoshi is the US government, and we are all stupid to not believe otherwise, and who trusts the government

Actually that really might be the case.

You think this guy is nuts for distrusting satoshi.

Let's go backwards.

How can you trust somebody (i mean satoshi) that you haven't talked to for years and possibly never? He haven't logged in for years and got his account hacked... (i know his account is locked now)

You have almost zero information about satoshi other than his technical posts about bitcoin.

Most people put him in their trust lists as a sign of respect, I get it. Other than that, it is completely pointless.

Long story short, it is not a big deal. trust ratings and trust lists are not moderated. I am actually surprised nobody haven't tried this before considering that there also many bitcoin haters around.

I  have another idea popped in my mind just now...

If satoshi hadn't left the forum and had kept posting, maybe he would have had gotten many enemies because of his thoughts.

We haven't seen him in a public debate against a person like Roger Ver for example. People (i mean everybody, including bcash people, btc people, eth people and every other crypto people) worship him like he was a saint but many people would be cursing him now if he was still around.

[Pmalek]

I think it is time to lock this thread now. Everything has been said that needed to be said. presduterte offered his view on the whole thing and we learned only that he has a sexy secretary, nothing else. No point in continuing down this road.

[GazetaBitcoin]

I believe you are right. Thank you Mr. President for honoring us with your presence.

To all the others, thank you as well for contributing to this topic. In the end, the president did not any mental disorder

Locking the topic now.