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

[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.

[1714700693]

1714700693

[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.