ajaxtempest (OP)
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September 17, 2022, 06:51:38 AM |
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if BTC is no longer valuable and becomes like token?
I have heard that he mined 1 million btc and was hoping that BTC would have converted the entire financial system in 10 years. IF his project fails what would he do with those coins?
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NotATether
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September 17, 2022, 06:58:45 AM |
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If it fails then the coins become worthless. And we all move on. It's unlikely that Satoshi is even still alive anyway.
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Charles-Tim
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September 17, 2022, 06:59:24 AM |
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if BTC is no longer valuable and becomes like token?
Are tokens not valuable? This is not a perfect question at all. But bitcoin is not a token in design. Bitcoin can never become a token. Bitcoin is the first cryptocurrency. It has its own blockchain and remain the only commodity among all cryptocurrencies. I have heard that he mined 1 million btc and was hoping that BTC would have converted the entire financial system in 10 years.
Just like olden days, some people got hold of a land they did not buy. Later some people buy the land cheap. As the area is changing from a village to town and to city, the cost of the land becoming increasing. IF his project fails what would he do with those coins?
What would you do with something that is not valuable? But bitcoin is never like that because it was adopted by people and it becomes valuable.
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Eternad
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September 17, 2022, 07:09:19 AM |
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Why the heck he will waste time coming back and his Bitcoin to forum user if his creation is already worthless. This kind of what if is surely the dream of every crypto user that late on Bitcoin adaption but this will never happened because Satoshi has an important reason for leaving the project anonymously. He didn’t want fame or wealth so will not do such thing like this that will exposed his privacy that he is protecting for a long time since Bitcoin become a mainstream hit.
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DannyHamilton
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September 17, 2022, 07:12:15 AM |
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Will satoshi come back and give his 1 million btc to users of this forum
No. That's got to be onee of thee dumbest things I've read on this forum in a while. if BTC is no longer valuable
I can guarantee that so long as ECDSA remains unbroken and I remain alive, bitcoin will ALWAYS be valuable. and becomes like token?
It is "like token", a very valuable token. I have heard that he mined 1 million btc
That's just a guess. Some people have tried to analyze and estimate, but nobody really knows for certain. Maybe more. Maybe less. and was hoping that BTC would have converted the entire financial system in 10 years.
Nope. He never said that. He never said anything to indicate that at all. IF his project fails what would he do with those coins?
His project has already succeeded. He has already done what he wants to. He's probably now dead.
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pooya87
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if BTC is no longer valuable and becomes like token?
Price or even value is not what makes a token a token. A token is simply something that relies on another blockchain, like ICOs, NFTs, etc. build in a token platform like Ethereum. I have heard that he mined 1 million btc
You heard wrong, or maybe you remember only half of what you heard. Some people made a guess that Satoshi might have mined as many as 1 million coins. and was hoping that BTC would have converted the entire financial system in 10 years.
I wouldn't say convert, he basically revolutionized what money means. He did that the first day he released the idea. IF his project fails what would he do with those coins?
Bitcoin is already successful in delivering exactly what Satoshi meant to: a decentralized censorship resistant global payment system.
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Jeger.Kiting
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September 17, 2022, 08:02:53 AM |
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Satoshi will never return and will not be able to give away Bitcoin with this forum, because either Satoshi doesn't want to expose himself to the public or Satoshi is completely lost. If you say BTC is no longer valuable and become like a token, it is impossible in my opinion, because many big investors are holding BTC for their long term investment in the future and they will not be able to let BTC become a token. The journey of BTC from the first time it was made to date, it took quite a long time for BTC to grow big, so it would not be possible for that to happen.
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Fara Chan
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September 17, 2022, 08:12:55 AM |
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if BTC is no longer valuable and becomes like token?
Looks like you need to learn more about the difference between bitcoin and tokens. Your question is not basic in bitcoin journey, you should expand your knowledge to know bitcoin thoroughly. I have heard that he mined 1 million btc and was hoping that BTC would have converted the entire financial system in 10 years.
Changing the financial system as you mean, bitcoin has undergone quite a perfect improvement up to now, comparing bitcoin to tokens is irrelevant. IF his project fails what would he do with those coins?
You should also understand that bitcoin doesn't fail in any way, the journey of bitcoin has shown, a decentralized investment system that benefits whoever is involved in it, that's why bitcoin is quite important to people.
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Tony116
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September 17, 2022, 08:49:42 AM |
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According to you, something is no longer valuable, what do you do with it, keep it or throw it away? But what will cause bitcoin to fail is the question to answer. While the future is uncertain, just looking at the present shows that bitcoin has become a hot topic in recent years and has led to a growing demand for bitcoin. Many countries, and companies... are starting to recognize the existence of bitcoin and its value, I don't think it will be a failed project. So there will be no need to think about the problem you bring up. By the way, no matter what happens to bitcoin, Satoshi won't come back, because we can't determine if he/she is alive or dead.
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Apocollapse
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September 17, 2022, 09:10:16 AM |
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1. There's no proof if Satoshi own 1 Million Bitcoin on his wallet. 2. There's no proof if Satoshi promise to distribute his 1 Million Bitcoin to all users in this forum.
I think the @OP just guessing random thing and curious about Satoshi, I wonder why many people keep asking who is Satoshi, where is Satoshi, what if Satoshi coming back etc. The thing is you wouldn't do anything even though he's really back, you wouldn't move to where Satoshi live and meet him because you will just sit on your couch and watching TV lol.
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CoinEraser
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September 17, 2022, 11:00:51 AM |
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The question is, why would he come back? There is no reason for that and he certainly never will. In my opinion, no one hopes to get coins from satoshi. He has already given us bitcoin and he can’t give us a better gift. There are many rumors, but whether he really has that many coins is not entirely clear. I wouldn’t hope for that. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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Baofeng
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September 17, 2022, 11:12:33 AM |
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if BTC is no longer valuable and becomes like token?
Then the whole crypto market will collapse. I have heard that he mined 1 million btc and was hoping that BTC would have converted the entire financial system in 10 years. IF his project fails what would he do with those coins?
I also heard a lot of things about him, maybe more than 1 million BTC. But the thing is, we can't proved it. We even don't know if Satoshi is just one person or a group of individuals. Again, everything will worth nothing if BTC fails. (And it's too big to fall, btw).
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BlackHatCoiner
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No, Satoshi isn't Robin Hood. If he's alive, he can spend the coins for himself. The fact that he hasn't moved them in the last 13 years should tell you enough about his intentions. If he's dead, there's little point to discuss about his coins. They'll most likely be moved once secp256k1 is no longer secure.
That being said, I don't care if he suddenly appeared, gave the money to everyone, spent them for himself, donated them to charities, or even burned them. You should neither. It's his money.
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AicecreaME
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September 17, 2022, 11:21:12 AM |
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What's the point of having Bitcoin given by Satoshi if ever, if it is worthless, like no value at all, it doesn't make sense. But if Satoshi will do some generosity like that, now, I'm sure he will never give you some by asking nonsense question like this.
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kryptqnick
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September 17, 2022, 04:28:44 PM |
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Even if Bitcoin costs $1, it would be $1 million to spend, which is a lot. And I highly doubt Bitcoin will ever get so low. Also, NotATether is right that the community would become much smaller if something like that happens and makes Bitcoin worthless. Charles-Tim (and others who are writing on the point of tokens), I think that perhaps by 'token' the op meant something like 'a token of appreciation'. Something of symbolic value, something meaningful to some people, but not something of financial value. So it has nothing to do with crypto tokens.
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eaLiTy
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September 17, 2022, 05:50:57 PM |
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if BTC is no longer valuable and becomes like token? Good dream, plenty of shit coins in the market trying to be BTC and it will be a dream forever. I have heard that he mined 1 million btc and was hoping that BTC would have converted the entire financial system in 10 years. IF his project fails what would he do with those coins? BTCitcoin has disrupted the financial sector and if adoption is your concern it will take some time and we are in the right direction. Everyone is worried about the millions of coins Satoshi owns, he does not need to provide any proof on what he wants to do with his coins and no one owes anything ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) .
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Doan9269
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September 17, 2022, 06:39:03 PM |
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if BTC is no longer valuable and becomes like token?
I have heard that he mined 1 million btc and was hoping that BTC would have converted the entire financial system in 10 years. IF his project fails what would he do with those coins?
I don't know what kind of a negative mind thinking users the forum is receiving these days right from the encounter of the dip in bitcoin price, things had been coming in form of asteroid stone attack on bitcoin, how can someone wake up a day and think about bitcoin coming down, what will Satoshi do with his bitcoins? are you telling us here all that we are all gambling with our assets and investments on bitcoin or what? My admonition for you is to study well to show yourself approved, Satoshi has make his own path known, try work on yourself and come out with something new, but by then, will you be happy to receive this kind of report as well?
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Rruchi man
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September 17, 2022, 07:02:07 PM |
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I have heard that he mined 1 million btc and was hoping that BTC would have converted the entire financial system in 10 years.
People say a lot of things sometimes most of them, borne out of sheer rumour, you should be careful what you listen to so you do not become a rumour monger as well. IF his project fails what would he do with those coins?
We can't say exactly but only assume, so no matter the response you get, it is just a mere assumption because only Satoshi knows what he will do.
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batang_bitcoin
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September 17, 2022, 07:46:25 PM |
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I cannot fathom why satoshi would have that thought that he'll distribute the 1M btc that he held for a long time to the forum users. He's not obliged in doing that and it's unlikely that he'll come back again. Let's accept the fact that if he's gonna back it should be long time ago and he's like us that probably tempted to sold all of those already.
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Rent this sig space so that BTC goes to $100k.
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OgNasty
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September 17, 2022, 07:52:12 PM |
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if BTC is no longer valuable and becomes like token?
I have heard that he mined 1 million btc and was hoping that BTC would have converted the entire financial system in 10 years. IF his project fails what would he do with those coins?
satoshi's coins are lost forever as far as anyone knows. There have been attempts to try and unlock those coins (Bitcoin Gold fork, Bitcoin Satoshi's Vision fork) with varying degrees of success, but the Bitcoin community has considered them lost. However, watching the Bitcoin community evolve over the last 10+ years, I no longer believe that those coins are lost forever. I think at some point people will complain that Bitcoin needs a higher than 21 million coin limit. Maybe 10 or 20 years from now. The original Bitcoiners will have mostly moved on with their lives or fallen victim to Father Time, and the new generation will want more coins for themselves. Ultimately, I think this will lead to a compromise of unlocking satoshi's coins for some "good" project like solving world hunger. Do I think this should happen? No. Do I believe it will someday when the 21 million coin limit is more heavily debated and those coins are used as an excuse for why there isn't even 21 million BTC? Yes. However, I also believe I'll be dead by then.
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