Why would someone send 4 BTC to Satoshi (Genesis block)

[adaseb]

Just wondering why someone would send 4BTC to the Genesis block which is over $75K.

Here is the transaction
https://www.blockchain.com/explorer/transactions/btc/6805b175260c47549995c3ff19c3c51596651c26269e9f1b31c243986433a0b7

I understand many want to send a small amount so they can get a piece of history on the block chain but sending over $75K which is pretty much a burn address since most likely it will never get spent is kind of crazy.

Why do you think they did this?

[1715556959]

1715556959

[1715556959]

1715556959

[1715556959]

1715556959

[1715556959]

1715556959

[Charles-Tim]

That should not be a mistake but to burn it. Every bitcoin burned adds its value to the remaining coins in circulation.

[mk4]

Idunno, let's probably not underestimate how rich some of the earliest bitcoin whales can be especially when bought in the single digits or cheaper. I totally doubt this was a mistake.

[pooya87]

It is possible that they messed up and were trying to actually send the 0.00525500BTC amount to that address which is about 90 bucks but they set that amount to the change and the change (4BTC) to Genesis address which already contains 22.57BTC!

P.S. coins sent there are not burnt though, Satoshi may some day decide to spend them

[Kakmakr]

At first, when I read the "subject" of this thread... I thought it might be older transactions...from the early days.... but I checked out the transaction and it was done on the 8th of January 2023. So someone send $75,424.64 worth of bitcoins to Satoshi's Genesis block.

The only logical reason for this in my mind, is this : The person must have made huge profits from Satoshi's technology... and he or she wants to show their appreciation to Satoshi for this. (Even though Satoshi has never used any of his coins and will most probably never spend the 4 bitcoins that was send to that address)

It is thus only a gesture to make a statement .....and not anything to do with the monetary value of those coins. (In a few years... those coins might rise to the Lazlo pizza level ....and people will make fun of this)  

[bitzizzix]

Well… maybe because the inactive Satoshi wallet address is the most well-known wallet address of all the wallets and maybe because people, lots of people, are actively monitoring them to see if any of their coins are being moved.
or maybe as a sign of gratitude because the person gets a very big advantage.

[Cantsay]

I still can't fathom why someone will just want to throw away ~75k that's a whole lot of cash for someone to just dispose of. Even while I'm unable to think of why something like that was done I'm sure that the whoever did that must have a very good reason why such action was carried out. Perhaps it was just to burn it so that the amount of Bitcoin in circulation will be affected which in turn might affect the price of Bitcoin or maybe just to show appreciation to Satoshi since the it was sent to the satoshi's address. I don't think it was just a random mistake.

[ChiBitCTy]

Idunno, let's probably not underestimate how rich some of the earliest bitcoin whales can be especially when bought in the single digits or cheaper. I totally doubt this was a mistake.

This exactly. There's so many former bitcointalk forum users who hoarded a ton of bitcoin in the early days when it cost next to nothing, or was essentially free minus some basic computing power.  That four bitcoins sent to whomever it was, is likely a drop in the bucket for them.  They wanted to do something kind of cool as well as decrease the pool of available bitcoin which makes all other bitcoin more valuable.

[BlackBoss_]

Thinking about it simply as why people sent merit to satoshi in bitcointalk. The account has no longer been active many years but merit does not stop coming to it.

It can be same reasons to send BTC to Genesis address that belongs to Satoshi Nakamoto.

Sending to that Genesis address but it is a donation for everyone. 'They' donated about 25 BTC to everyone.

Lost coins only make everyone else's coins worth slightly more.  Think of it as a donation to everyone.

[Fivestar4everMVP]

With how knowledgeable we all have become about bitcoin, I do not think this is a mistake.

There are times when I often feel that, if I managed to become super rich through cryptocurrencies, I would locate Satoshi bitcoin address and send some bitcoins to him as my thank you gift to him for bringing to live, this innovation through which my financial life have changed from bad to good.
Maybe someone just beat me to that idea by doing it first, 

[slaman29]

When I first went to a crypto casino, I remember guys raining down 1 BTC every minute and just going on and on and on.

This means just giving everyone there randomly the BTC. I didn't get it at first. Why would a guy give away $600 a pop, over and over and over?

Then he explains when he was new, people did the same for him and that's how he got into crypto or he never would have.

This is not an accident

[Jating]

It's either the user:

1. accidentally send the wrong amount to the genesis block as we all know that everyone wants to be part of history by sending some change amount, but not this huge.

2. probably he is rich through bitcoin and wanted to send appreciation to the man himself, as his invention help him become a self made millionaire or even billionaire for that matter.

[pooya87]

Sending to that Genesis address but it is a donation for everyone. 'They' donated about 25 BTC to everyone.

Lost coins only make everyone else's coins worth slightly more.  Think of it as a donation to everyone.

That is when you actually "burn" coins or lose access to your keys, not when you send them to an address that can be spent some day if Satoshi comes back or decides to move those coins.

There are times when I often feel that, if I managed to become super rich through cryptocurrencies, I would locate Satoshi bitcoin address and send some bitcoins to him as my thank you gift to him for bringing to live, this innovation through which my financial life have changed from bad to good.

It is best to donate them to someone in need, a poor person who is homeless or something like that!

[hyudien]

At first, when I read the "subject" of this thread... I thought it might be older transactions...from the early days.... but I checked out the transaction and it was done on the 8th of January 2023. So someone send $75,424.64 worth of bitcoins to Satoshi's Genesis block.

The only logical reason for this in my mind, is this : The person must have made huge profits from Satoshi's technology... and he or she wants to show their appreciation to Satoshi for this. (Even though Satoshi has never used any of his coins and will most probably never spend the 4 bitcoins that was send to that address)

It is thus only a gesture to make a statement .....and not anything to do with the monetary value of those coins. (In a few years... those coins might rise to the Lazlo pizza level ....and people will make fun of this)  

A guess that fits what I think is your statement. That person made a huge profit from Bitcoins and to show his gratitude he sent Bitcoins for free to the creator's wallet. Rather than that maybe as a form of gratitude for what he achieved from Bitcoin. This is not a mistake, but rather a way of expressing gratitude.

Whoever the person was and who knows what's behind the reason, he really did it in a way that was beyond anyone's expectations, no one thought he would think in that direction.

[BlackHatCoiner]

Why do you think they did this?

I don't know, but I don't think it was an accident. You really need to be irresponsible as fuck to not be cautious when spending 4+ BTC. Couldn't there be a new kind of Proof-of-Burn perhaps?

P.S. coins sent there are not burnt though

They are definitely not burned. Besides Satoshi spending them (which, between us, I don't find it a wise thing to do), the public key of that address is known. It's entirely possible someone spends that output, once the underlying cryptography is weak enough.

[NeuroticFish]

I agree with @pooya87 on this.
I see no good reason to send 4 BTC to Satoshi and some 100$ to a change address. I think that whoever did that wanted to send the 100$ to Satoshi and 4 BTC to self.

Of course, making a donation to everybody is another not-too-bad scenario, i.e. somebody with lots of money wanted to make every bitcoiner a bit richer with this, or at least Satoshi if he ever comes back.
Still, the scenario with the error makes more sense to me...

[buwaytress]

Sending to that Genesis address but it is a donation for everyone. 'They' donated about 25 BTC to everyone.

Lost coins only make everyone else's coins worth slightly more.  Think of it as a donation to everyone.

That's how proud I feel about myself each time I burn fees to consolidate, or to send people Bitcoin I know they may never use. A small amount I sent to my kid is lost forever, that's my personal record for "burning" and address (I say small but it was the value years ago, I remind him every now and then how much he lost in today's value haha).

[casinotester0001]

P.S. coins sent there are not burnt though, Satoshi may some day decide to spend them

Would it be ok if Satoshi spent them   (He's not knowing why the sender did it.)


or .... this one is better .....

Satoshi sent these 4 BTC to himself  

[pooya87]

It's entirely possible someone spends that output, once the underlying cryptography is weak enough.

In my opinion there is a good chance that bitcoin would die if something like that ever happened before fully switching to another algorithm and making the previous one obsolete.

[Lucius]

If I would like to look at this situation from a slightly funny angle, then I would say that this "donation" is perhaps part of some kind of strange idea that stems from the fact that there are people who think that Satoshi will appear one day and that he will share his Bitcoins with everyone who sent something to his address - let's call it "future Satoshi Bitcoin doubler"

[so98nn]

It is possible that they messed up and were trying to actually send the 0.00525500BTC amount to that address which is about 90 bucks but they set that amount to the change and the change (4BTC) to Genesis address which already contains 22.57BTC!

P.S. coins sent there are not burnt though, Satoshi may some day decide to spend them

That’s horrible mistake then. Lolz. I think there might be speculations now that it’s Satoshi only who is operating from other address and it may happen they are working on something else. Can’t wait to see something like that being discussed now. It could be possible that someone is too rich and just had some work with Satoshi and they paid then the fees. Anyway that is too too wide assumption. But who knows, in the current situation it looks anything is possible.

[goldkingcoiner]

Just wondering why someone would send 4BTC to the Genesis block which is over $75K.

Here is the transaction
https://www.blockchain.com/explorer/transactions/btc/6805b175260c47549995c3ff19c3c51596651c26269e9f1b31c243986433a0b7

I understand many want to send a small amount so they can get a piece of history on the block chain but sending over $75K which is pretty much a burn address since most likely it will never get spent is kind of crazy.

Why do you think they did this?

Bored rich people playing games to get attention and yet remain anonymous? I do not know. If I had billions of dollars I would send everyone on Bitcointalk a nice number of Bitcoin.

It is possible that they messed up and were trying to actually send the 0.00525500BTC amount to that address which is about 90 bucks but they set that amount to the change and the change (4BTC) to Genesis address which already contains 22.57BTC!

P.S. coins sent there are not burnt though, Satoshi may some day decide to spend them

If Satoshi is even alive still. ...

That is a bit of a horrible thought, is it not? Satoshi dies without anyone ever knowing who he was in the end.

[m2017]

Just wondering why someone would send 4BTC to the Genesis block which is over $75K.

Here is the transaction
https://www.blockchain.com/explorer/transactions/btc/6805b175260c47549995c3ff19c3c51596651c26269e9f1b31c243986433a0b7

I understand many want to send a small amount so they can get a piece of history on the block chain but sending over $75K which is pretty much a burn address since most likely it will never get spent is kind of crazy.

Why do you think they did this?

Well. This transaction took place quite recently - a few days ago. I assumed that perhaps this happened many years ago, but I was wrong. Checking blockchain confirmed that the amount of 75k$ was sent recently.

That should not be a mistake but to burn it. Every bitcoin burned adds its value to the remaining coins in circulation.

I had a similar thought and the person who sent 4BTC can afford to donate that amount. In fact, he definitely managed to burn it, and these 4BTC can certainly be deleted from the general circulation of bitcoin.

To me this doesn't seem like a mistake, but rather a deliberate action. It is impossible to say exactly who and why did it.

Proponents of amazing theories may say that it is OP who sends btc to himself from other addresses. But this is impossible.

[Vampobit]

Obviously that's curious, but there are 2 things we know for sure:

1. Satoshi is 4BTC richer now  
2. The coins aren't lost unless Satoshi has no access to the private keys.

ps: If you want to be absolutely sure that you burn some coins, you can generate a wallet, send money to the address and make sure to forget the private key, or burn it, or destroy it, or demolish the building where you have saved it.

[panganib999]

Just wondering why someone would send 4BTC to the Genesis block which is over $75K.

Here is the transaction
https://www.blockchain.com/explorer/transactions/btc/6805b175260c47549995c3ff19c3c51596651c26269e9f1b31c243986433a0b7

I understand many want to send a small amount so they can get a piece of history on the block chain but sending over $75K which is pretty much a burn address since most likely it will never get spent is kind of crazy.

Why do you think they did this?

I think you already answered your question, to burn bitcoins basically. Don't forget that every bitcoin burned adds value to the whole supply, so this cool bloke out there probably thought of burning some of his bitcoins whilst at the same time cementing himself in the history, I mean we're talking about him right now, so I guess it works?

Obviously that's curious, but there are 2 things we know for sure:

1. Satoshi is 4BTC richer now 
2. The coins aren't lost unless Satoshi has no access to the private keys.

ps: If you want to be absolutely sure that you burn some coins, you can generate a wallet, send money to the address and make sure to forget the private key, or burn it, or destroy it, or demolish the building where you have saved it.

Well since we haven't heard from the guy I guess it's safe to say that he lost his keys, or maybe even did the same things you stated lmao. kiddings aside I can point to clout as to why they did this. They wanna be topical and be talked about probably in this forum, and they succeeded coz now we're talking about them.

[CryptoHeadlineNews]

That Satoshi's genesis block address currently has 72 BTC worth $1.3million. So to me, the person who sent that amount can only be a very rich and generous crypto enthusiast who had benefited from Satoshi's project and thought that could be the only way to reward him for the awesome project he developed that we all on this forum still benefiting till today.
Moreover, that 4 BTC is equally huge and would have gone a long way had he/she used that amount to touch the lives of the poor and less privileged in the society. However, everybody has a choice to decide how he/she spend their money.

[The Cryptovator]

This is not burn because we don't know if it's spendable or not. Satoshi still has access to his entire wallet, but he isn't touching it. I don't believe the Bitcoin creator would lose his private keys, which he is very familiar with. The sender would illustrate why he sent four Bitcoin to the Satoshi address. I believe it is an error. Because there is no reason for anyone to send this amount consciously.

[DeathAngel]

Seems really stupid, I hope the person who send these bitcoin is a whale because that is a lot of money to send to an address that will never use those bitcoin. Craig Wright has lost access to those keys (i’m kidding, I’m kidding ).

Every lost or inaccessible bitcoin is a donation to us though so thanks anon
That’s 4 more bitcoin effectively out of circulation & off the market

[Welsh]

If you want to be a part of history, and have Bitcoin to burn I can see certain individuals being motivated to do this. However, there's no real reason they did it other than saying they did do it. Since, no one knows the status of Satoshi, none of his addresses can be considered burn addresses either since they can't be verifiable as lost.

They probably just wanted users to talk about it, which they've achieved. If they have a lot of Bitcoin this might have been pennies to them. 

[sbrys]

My guess is a crazy youtuber to get extra views. Maybe he can even recuperate the funds with the incremental views he gets 

Would be stupid but have seen worse 

[serjent05]

I agree with @pooya87 on this.
I see no good reason to send 4 BTC to Satoshi and some 100$ to a change address. I think that whoever did that wanted to send the 100$ to Satoshi and 4 BTC to self.

Of course, making a donation to everybody is another not-too-bad scenario, i.e. somebody with lots of money wanted to make every bitcoiner a bit richer with this, or at least Satoshi if he ever comes back.
Still, the scenario with the error makes more sense to me...

If this is the case we might end up reading a new about this mistake.  While it makes sense to consider the transaction a mistake done by the sender, we also cannot remove the fact that sometimes people who earn huge amounts of money give the person who gave them an opportunity some part of the earned money thus the 4 BTC sent to Satoshi address is indeed intentional to pay respect and thanks to what Satoshi had done to his financial status.

[Vampobit]

This is not burn because we don't know if it's spendable or not. Satoshi still has access to his entire wallet, but he isn't touching it. I don't believe the Bitcoin creator would lose his private keys, which he is very familiar with. The sender would illustrate why he sent four Bitcoin to the Satoshi address. I believe it is an error. Because there is no reason for anyone to send this amount consciously.

I would argue that Satoshi may not have the keys to this address. When BTC is unspendable or out of circulation, then its value grows. Therefore, "forgetting" or "losing" their keys, Satoshi actually adds value to the existing bitcoin in circulation

Well since we haven't heard from the guy I guess it's safe to say that he lost his keys, or maybe even did the same things you stated lmao. kiddings aside I can point to clout as to why they did this. They wanna be topical and be talked about probably in this forum, and they succeeded coz now we're talking about them.

As I said before, probably Satoshi "lost" his keys. Maybe he just sent the mined BTC to the addresses and then got rid of the keys for all of them.

If Satoshi is even alive still. ...

That is a bit of a horrible thought, is it not? Satoshi dies without anyone ever knowing who he was in the end.

I don't believe Satoshi is dead. I strongly believe Satoshi was a student of Hal Finney's. Hence, the first transaction ever made was from him to Hal Finney.

[Vampobit]

I agree with @pooya87 on this.
I see no good reason to send 4 BTC to Satoshi and some 100$ to a change address. I think that whoever did that wanted to send the 100$ to Satoshi and 4 BTC to self.

Of course, making a donation to everybody is another not-too-bad scenario, i.e. somebody with lots of money wanted to make every bitcoiner a bit richer with this, or at least Satoshi if he ever comes back.
Still, the scenario with the error makes more sense to me...

If this is the case we might end up reading a new about this mistake.  While it makes sense to consider the transaction a mistake done by the sender, we also cannot remove the fact that sometimes people who earn huge amounts of money give the person who gave them an opportunity some part of the earned money thus the 4 BTC sent to Satoshi address is indeed intentional to pay respect and thanks to what Satoshi had done to his financial status.

There is no reason at all to give 4BTC to someone who is supposed to own from 700k to 1m BTC

[KennyR]

No one knows the real problem for which the amount has been transacted. For sure, the transaction isn't out of mistake. It is possible to see Good number of old donars in our forum. They've made donation in big numbers. Same as that this guy might be one among the early adopter of bitcoin. Maybe no one to claim his funds later, maybe that too can be a reason.

[South Park]

I still can't fathom why someone will just want to throw away ~75k that's a whole lot of cash for someone to just dispose of. Even while I'm unable to think of why something like that was done I'm sure that the whoever did that must have a very good reason why such action was carried out. Perhaps it was just to burn it so that the amount of Bitcoin in circulation will be affected which in turn might affect the price of Bitcoin or maybe just to show appreciation to Satoshi since the it was sent to the satoshi's address. I don't think it was just a random mistake.

75k is definitely a big amount for most of us, but if this was done by a whale with tens of millions of dollars worth of bitcoin then this amount suddenly does not seem as impressive, besides everything depends on the preferences and wants of this person, some may prefer to spend those 75k on an expensive car or jewelry, but if that person decided that it was preferable to spend that money by sending such a huge transaction and creating such a reaction on the Internet about their reasons for doing so, then it seems to me they obtained exactly what they were looking for.

[Odusko]

Thinking about it simply as why people sent merit to satoshi in bitcointalk. The account has no longer been active many years but merit does not stop coming to it.

It can be same reasons to send BTC to Genesis address that belongs to Satoshi Nakamoto.

Sending to that Genesis address but it is a donation for everyone. 'They' donated about 25 BTC to everyone.

Lost coins only make everyone else's coins worth slightly more.  Think of it as a donation to everyone.

Right let consider this as a donation, even if it's a mistake or an intentional act from that user, but the most important is that the Bitcoin is going to remain inactive until Satoshi decide to wake that wallet up some days.
But this is so big a gift 4BTC is quite large in total value and I don't think anyone will want to throw that away unlthey'reheir sure it can be used some days no one can tell what the motive for this transaction is at the moment.

[Bushdark]

Just wondering why someone would send 4BTC to the Genesis block which is over $75K.

Here is the transaction
https://www.blockchain.com/explorer/transactions/btc/6805b175260c47549995c3ff19c3c51596651c26269e9f1b31c243986433a0b7

I understand many want to send a small amount so they can get a piece of history on the block chain but sending over $75K which is pretty much a burn address since most likely it will never get spent is kind of crazy.

Why do you think they did this?

Who knows if that's just for a free will thanksgiving to appreciate Satoshi for his extraordinary work to make Bitcoin a reality 😂
I hope to see more Bitcoin sent to that address over and over again. There might be some rich kids that would never mind making a donation with any request. There had been so many eyes witha lot of scrutiny to know what will happen to those buck of Bitcoin sleeping over there without any use.

[casinotester0001]

Here is the transaction
https://www.blockchain.com/explorer/transactions/btc/6805b175260c47549995c3ff19c3c51596651c26269e9f1b31c243986433a0b7

How did you find this transaction?

[adaseb]

I don’t think it was a typo where the change and destination address was mixed up. If he meant to send something like $5 then there would only be 1 input and this transaction had 3 inputs.
Most wallets would just use 1 input to cover as much of the amount to spend.

Like others have said in this thread. It would of been better to just donate this money instead of waste it. Even if it removes circulation by a little it won’t make a difference in the long run. And having it sent there is pretty much a burn address.

[sunsilk]

Two things that all of us can guess with it and like everybody is telling:

1. Just being grateful and that guy must be filthy rich with all of his accumulated and bought bitcoin when it was really cheap at all several years ago or bought like a decade ago.

2. A mistake that was never intended to send all of that 4 btc and things just happened so quickly like "send all balance" made by the owner.

It also took my attention about the fee that it's just 400 sats = $0.08.  

[Bitstar_coin]

Just wondering why someone would send 4BTC to the Genesis block which is over $75K.

Here is the transaction
https://www.blockchain.com/explorer/transactions/btc/6805b175260c47549995c3ff19c3c51596651c26269e9f1b31c243986433a0b7

I understand many want to send a small amount so they can get a piece of history on the block chain but sending over $75K which is pretty much a burn address since most likely it will never get spent is kind of crazy.

Why do you think they did this?

For anyone who holds above 100 btc, burning 4 btc will not give them sleepless night nor sounds crazy to them. Since it is all about getting a piece of history I guess whoever it was is already making history even right here in the forum.
People do crazy stuff all the time, this shouldn't come as a surprise.

[Cantsay]

My guess is a crazy youtuber to get extra views. Maybe he can even recuperate the funds with the incremental views he gets 

Would be stupid but have seen worse 

I won't be surprised if this turns out to be true because most times when I'm surfing through YouTube to find solutions to some certain issue I do stumble upon some crazy shit that's been done just for the sake of getting millions of views.

And this might just be one of the examples of those crazy shit done by some crazy ass millionaire YouTuber and then they'll use caption like "How I lost my 4BTC to Satoshi" those shit's stupid as hell.

[adaseb]

My guess is a crazy youtuber to get extra views. Maybe he can even recuperate the funds with the incremental views he gets 

Would be stupid but have seen worse 

I won't be surprised if this turns out to be true because most times when I'm surfing through YouTube to find solutions to some certain issue I do stumble upon some crazy shit that's been done just for the sake of getting millions of views.

And this might just be one of the examples of those crazy shit done by some crazy ass millionaire YouTuber and then they'll use caption like "How I lost my 4BTC to Satoshi" those shit's stupid as hell.

I don't think anyone would do this to get Youtube views. Do you know how little Youtube pays people right now. Why do you think so many people are doing sponsorships in youtube videos because the ad revenue is just not too high.

Last time I checked if you got a huge big channel and you get 1,000,000 views you maybe make $2000. So unless this guy got over 50,000,000 views he would only break-even. A few years back Youtube was more profitable but now its very difficult to make any money.  Seems like a waste of time these days. Way too saturated even for crypto content.

[sbrys]

My guess is a crazy youtuber to get extra views. Maybe he can even recuperate the funds with the incremental views he gets 

Would be stupid but have seen worse 

I won't be surprised if this turns out to be true because most times when I'm surfing through YouTube to find solutions to some certain issue I do stumble upon some crazy shit that's been done just for the sake of getting millions of views.

And this might just be one of the examples of those crazy shit done by some crazy ass millionaire YouTuber and then they'll use caption like "How I lost my 4BTC to Satoshi" those shit's stupid as hell.

I don't think anyone would do this to get Youtube views. Do you know how little Youtube pays people right now. Why do you think so many people are doing sponsorships in youtube videos because the ad revenue is just not too high.

Last time I checked if you got a huge big channel and you get 1,000,000 views you maybe make $2000. So unless this guy got over 50,000,000 views he would only break-even. A few years back Youtube was more profitable but now its very difficult to make any money.  Seems like a waste of time these days. Way too saturated even for crypto content.

Attention is an important new currency in society right now so it's still possible 

But I agree it's not the greatest story ever to broadcast. 1BTC would have done the trick also

[_BlackStar]

I don't think anyone would do this to get Youtube views. Do you know how little Youtube pays people right now. Why do you think so many people are doing sponsorships in youtube videos because the ad revenue is just not too high.

Last time I checked if you got a huge big channel and you get 1,000,000 views you maybe make $2000. So unless this guy got over 50,000,000 views he would only break-even. A few years back Youtube was more profitable but now its very difficult to make any money.  Seems like a waste of time these days. Way too saturated even for crypto content.

Obviously it won't be worth the income and expenses if Youtube content is the goal. I don't know what the real reason is either, but I might somewhat agree that it's some sort of tribute from the pope or whoever has most of the bitcoin in his wallet. But for whatever speculation there is, we don't really know what the reason is until the person who sent the bitcoin clarifies it.

Also, the hype about content like this wouldn't last long if those users were actually spending $75K on content alone, but I disagree with why. I tend to think it's either a reward or a mistake on the part of the user.

[digaran]

We are here busting our ass off to find 0.66 in a puzzle challenge and they send 4BTC to a dead man, insanity has no limits.🤣

[Lucius]

We are here busting our ass off to find 0.66 in a puzzle challenge and they send 4BTC to a dead man, insanity has no limits.🤣

Who says Satoshi is a dead man? If you look at the historical facts, it is quite clear that he publicly announced that he was leaving, and before that he made sure that some of his associates would be the ones who would take part of the credit for everything he did.

It is not at all inexplicable to me why some people still send BTC to that address and I expressed my opinion in the previous post - after all, everyone has the right to do whatever they want with their funds. If you need a donation, maybe you can try asking for it publicly and someone will send you more than 0.66 BTC - not so long ago an unknown benefactor donated even 1 BTC to some charity projects

[BADecker]

Have you ever heard the phrase, "Taxation without representation." In the US, you can ask many people if they like the IRS. They will say 'No." But these same people want taxation to continue, because they believe that it is tax money that is supporting the government. And they might be right in some strange way.

Here's the point. Why not pay taxes to the person who made Bitcoin possible? Even IRS taxes are said to be 'voluntary'.

[kryptqnick]

Forgive my ignorance, but if the address (Satoshi's genesis address) contains the unspendable BTC, does is mean other Bitcoins that get there become unspendable as well? Of course, these coins aren't likely to ever be accessed anyway, but, assuming Satoshi is alive and didn't lose access to anything, would Satoshi even be able to use those coins? pooya87 says it's possible, which gives some hope these coins aren't just burned.
IMO, if one has such money to spare, it would be better to donate it to a good cause instead of burning. I don't think it was done by mistake, though.

[darkangel11]

Just wondering why someone would send 4BTC to the Genesis block which is over $75K.

Here is the transaction
https://www.blockchain.com/explorer/transactions/btc/6805b175260c47549995c3ff19c3c51596651c26269e9f1b31c243986433a0b7

I understand many want to send a small amount so they can get a piece of history on the block chain but sending over $75K which is pretty much a burn address since most likely it will never get spent is kind of crazy.

Why do you think they did this?

For anyone who holds above 100 btc, burning 4 btc will not give them sleepless night nor sounds crazy to them. Since it is all about getting a piece of history I guess whoever it was is already making history even right here in the forum.
People do crazy stuff all the time, this shouldn't come as a surprise.

Close, it came from this address where someone had 82BTC in April of 2022. That was 3 million USD.
https://www.blockchain.com/explorer/addresses/btc/392cd66VNBwUFpGTkKVvkSvDNoBdWyFwVw

The money then went through a series of transactions being sent from one address to another many times a day. Possibly a money laundering operation.

Why did they send some money to Satoishi? Maybe as a gesture of appreciation? Maybe to taint his coins with some of their stolen profits?

[abel1337]

Just wondering why someone would send 4BTC to the Genesis block which is over $75K.

Here is the transaction
https://www.blockchain.com/explorer/transactions/btc/6805b175260c47549995c3ff19c3c51596651c26269e9f1b31c243986433a0b7

I understand many want to send a small amount so they can get a piece of history on the block chain but sending over $75K which is pretty much a burn address since most likely it will never get spent is kind of crazy.

Why do you think they did this?

This is how crazy rich people spend their money on. I don't think it's an sending error given that it's the genesis block. It's how people make their own history on crypto and how they make themselves seen into articles and news. Maybe the sender wants everyone to talk about him. Like we are doing now, Speculating about why did someone send a hella amount of money to a genesis block which is basically unusable (unless satoshi use it in the future).  Also there's a chance that this is a very old whale who accumulated a ton of bitcoin in it's early stage.

[Vampobit]

Forgive my ignorance, but if the address (Satoshi's genesis address) contains the unspendable BTC, does is mean other Bitcoins that get there become unspendable as well? Of course, these coins aren't likely to ever be accessed anyway, but, assuming Satoshi is alive and didn't lose access to anything, would Satoshi even be able to use those coins? pooya87 says it's possible, which gives some hope these coins aren't just burned.
IMO, if one has such money to spare, it would be better to donate it to a good cause instead of burning. I don't think it was done by mistake, though.

Well, let's clarify something. It doesn't matter if it's Satoshi or if it's me (let's say), but anyone who have the private key that unlocks the genesis block address, can spend the money found in it.

Therefore, if you decide to send BTC there, the only way to be spent, is if someone has the key to this address.

If Satoshi is a person and if Satoshi is alive and if Satoshi owns the key, then they could definetely spend the BTC you send there.

Thus, it's definetely not verified that this amount of BTC is burnt.

If you want to "burn" some bitcoin you can generate an address, send the money there and ELIMINATE the private key that has access to it.

[BlackHatCoiner]

Forgive my ignorance, but if the address (Satoshi's genesis address) contains the unspendable BTC, does is mean other Bitcoins that get there become unspendable as well?

No. The coinbase reward from the genesis block is non-spendable. Any other outputs coming from that address can be normally spent.

If you want to "burn" some bitcoin you can generate an address, send the money there and ELIMINATE the private key that has access to it.

That won't be true burning either. First things first, nobody can assure you there won't be another fellow who'll generate the same key. Second, there are about 2^96 different keys, all of which result to the same address. If you want to burn coins, you need to remove them from the UTXO set, using OP_RETURN.

[CryptounityCUT]

I think one of the reasons could be to burn bitcoin, so it can give more value, but this is not necessary to be true because, if the majority of investors will not adopt BTC on long run, this hypothesis has no value.