So Who Owed Satoshi Money?

[freedomno1]

Or was it money due to Craig Wright cough who is supposed to be Satoshi
https://twitter.com/Pledditor/status/1744168276991545740

The transaction's destination, 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa, links back to the P2PKH address associated with the public key that received the genesis block reward

"Munches Popcorn" I think Legal Abandonment of Property would be a legal argument at this point

Someone just sent Satoshi's genesis wallet $1.2 mil. in BTC.

Why?? The only thing that makes any sense is that the sender is flushing Satoshi out.

Under the new IRS rules, you have to report  any receipt of crypto over $10k. So, Satoshi has to dox himself, OR break the law
https://twitter.com/attorneyjeremy1/status/1743842422285562336/photo/1

[dzungmobile]

Many theories behind this but if identity of Satoshi Nakamoto was already known, is it a neccessadlry step?

Because, oppositely if Satoshi Nakamoto is unknown, which is all we known so far. Sending those bitcoins to Genesis address is like burning those bitcoins.

Who is rich enough to burn such bitcoin that has huge value with today price. Another fact is 26 bitcoins is just a small amount with early bitcoin miners because initially Bitcoin block subsidy is 50 bitcoins, before halved to 25 bitcoins in 2013.

[btc78]

After all these years of hiding, i do not think satoshi would finally make his presence known once again by buying a couple of bitcoin from a centralized exchange no less.

I do believe that whoever sent those bitcoin to the wallet of satoshi is just burning bitcoin or trying to get satoshi to come out

Who is rich enough to burn such bitcoin that has huge value with today price.

There are many rich people out there and many of them are bored and reckless so it is not that unbelievable to think that someone would do this for fun

[HmmMAA]

Under the new IRS rules, you have to report  any receipt of crypto over $10k. So, Satoshi has to dox himself, OR break the law
https://twitter.com/attorneyjeremy1/status/1743842422285562336/photo/1

Correct me if i'm wrong but this only applies to US citizens . So , if satoshi is a non US citizen he doesn't have any problems if he doesn't report it to his tax statement .

[Tytanowy Janusz]

Under the new IRS rules, you have to report  any receipt of crypto over $10k. So, Satoshi has to dox himself, OR break the law

1- IF he is a resident of the United States. US law applies to the US, not the whole world.
2- what is the penalty for breaking this law? Probably some fine. Compare this to the risks of disclosing a fortune of $45 billion. No one in their right mind would come forward for this reason.
3- If the goal was to flush Satoshi out, why wasn't $11k sent? This would be enough to create a tax obligation

In my opinion, a much more likely scenario is that, at some heavily alcoholic/drug-fueled party, on some millionaires' yacht, just as a joke, it was sent a moment after the words "hold my beer".

According to estimates, in the middle of 2021, there were 56 million people worldwide whose assets exceeded one million US dollars
Around 2,132,856 households in America have $10 million or more in net worth

What are the chances that from the group of 56 million people, there will be someone crazy enough to do it for fun? In my opinion, it's huge. Case closed.

[DooMAD]

There's a Plausible theory here in case anyone missed it.  Seems to make more sense than someone wasting money attempting to expose someone who is either obscenely disciplined at not spending any of their vast fortune, or is unable to spend it because they're dead.

[NotATether]

Under the new IRS rules, you have to report  any receipt of crypto over $10k. So, Satoshi has to dox himself, OR break the law

How are you so sure that Satoshi is an American?

[avikz]

Dear OP,

To begin with, stop thinking that Satoshi Nakamoto is an American. Also we really don't know if satoshi is an individual or a group of people. So a lot of unknowns are still here.

Secondly, a person or a group who had created revolution in the financial world and yet no one knows his or there identity since last so many years. Do you think this bloody IRS law will flush them out? I don't think so!

[mk4]

Under the new IRS rules, you have to report  any receipt of crypto over $10k. So, Satoshi has to dox himself, OR break the law
https://twitter.com/attorneyjeremy1/status/1743842422285562336/photo/1

I think people are overanalyzing things with this. It is a bit unlikely, but if I were to guess, it was some dude who made a crap load of money on btc/crypto/trading that sent the $1.2m just so send a message (not necessarily to thank Satoshi because who knows if he's still alive).

[Learn Bitcoin]

I just saw a video on YouTube regarding this and wondered why I didn't see any thread on BitcoinTalk. There you go. Whoever did it, thank you for dumping those coins. Or could it be Satoshi or his closest person? I cannot imagine Satoshi or his closest persons will ever use centralized exchanges.

Here is the link to the transaction; https://blockchair.com/bitcoin/transaction/d7db4f96a4059c8906b953677ce533493d7b9da0f854a21b99f5772910dd0a31

[MrFreeDragon]

The private key for address 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa (received the reward from genesis block) could be not saved by Satoshi, and it does not matter is him/her alive or not. It just the test transaction with the initial purpose to have the balance FOREVER.

[The Sceptical Chymist]

Why?? The only thing that makes any sense is that the sender is flushing Satoshi out.

Under the new IRS rules, you have to report  any receipt of crypto over $10k. So, Satoshi has to dox himself, OR break the law

That might make sense under certain conditions, though I'll be damned if I can think of any legitimate ones where someone would send that much bitcoin to Satoshi's address just on the off chance that he'll somehow come out of hiding to avoid breaking the law.  Somehow that just doesn't jibe with anything a reasonable person might do, even if that person had enough bitcoin to throw away.

I did read some thread titles dealing with this, but I never looked into it until now.  This is the first time anything's been sent to Satoshi's stash, right, or am I wrong on that?  I know no coins have been sent from the genesis block, but my knowledge of the reverse scenario is fuzzy at best.  Aside from that, it's just another wacky story from the world of bitcoin--there have been hundreds of them by now, with more to come no doubt.

[serjent05]

I just saw a video on YouTube regarding this and wondered why I didn't see any thread on BitcoinTalk. There you go. Whoever did it, thank you for dumping those coins. Or could it be Satoshi or his closest person? I cannot imagine Satoshi or his closest persons will ever use centralized exchanges.

Here is the link to the transaction; https://blockchair.com/bitcoin/transaction/d7db4f96a4059c8906b953677ce533493d7b9da0f854a21b99f5772910dd0a31

I tend to agree with Tytanowy Janusz, they are just some Bitcoin-rich people tripping to send a transaction to the address and I think it has nothing to do with Satoshi. They just "burn" 26 BTC to get the attention of people towards the address and make us discuss something like this.

We do not know whether these people are making fun of the comments of people about their actions but one thing is for sure, these people are abundant with Bitcoins (probably an early adopter).

[wallet4bitcoin]

Or was it money due to Craig Wright cough who is supposed to be Satoshi
https://twitter.com/Pledditor/status/1744168276991545740

The transaction's destination, 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa, links back to the P2PKH address associated with the public key that received the genesis block reward

"Munches Popcorn" I think Legal Abandonment of Property would be a legal argument at this point

Someone just sent Satoshi's genesis wallet $1.2 mil. in BTC.

Why?? The only thing that makes any sense is that the sender is flushing Satoshi out.

Under the new IRS rules, you have to report  any receipt of crypto over $10k. So, Satoshi has to dox himself, OR break the law
https://twitter.com/attorneyjeremy1/status/1743842422285562336/photo/1

While we focus on the fact that someone has sent a genesis address some BTC, irreespective of whatever the perceived motive is, have we also considered that it might be a mistake in transaction destination.

We all know this is the blockchain space and most times mistakes are bound to occur, the amount involved in the mistake is inconsequential to it, it just happens anyways.

If we consider this enough reason to either awaken the Satoshi wallet or fish out who Satoshi is, it might not be possible.

[thecodebear]

OP that would only be true if Satoshi is (1) American, (2) still alive, and (3) actually plans on ever revealing his/her/their identity and using their bitcoin.

#1 is very questionable, #2 no idea but it at least seems unlikely the way Satoshi just left and has never touched billions of dollars, and #3 is almost certainly never going to happen after so many years, I don't think anyone thinks Satoshi is gonna randomly show up one day and start spending a million or so bitcoin.

Even if all the above were true, which is likely pure fantasy, Satoshi's fortune is going to end up being the single largest fortune in the world eventually, so I don't think paying an IRS fine one day on a million dollars would bother Satoshi haha. It'd be like if the IRS fined the average person a dollar.

So if the reason was actually to "flush satoshi out" lol, whoever did it is an idiot and just wasted a million dollars of bitcoin (of course worth much much more in the future).

[pinggoki]

How are you so sure that Satoshi is an American?

Even if Satoshi isn't an American, I'm pretty sure that there's going to be a way that the DOJ will be able to extradite him or something, that's what they're currently doing with Julian Assange right? Trying to extradite him for exercising his freedom of the press, this is going to be the same thing as that, I'm sure that Satoshi is a British-Japanese but that's just me parroting what other Internet sleuths think about the nationality of Satoshi is.

It's really weird that Satoshi is going to be exposed by someone but I don't think that he's ever gonna come out, he's probably living the good life somewhere out there observing his creation and I don't think that he will ever consider coming back or maybe even getting that bitcoin sent to him spent, that's going to be just another burn address now.

[adaseb]

I keep seeing this being discussed over and over again. People are making a big deal about satoshi having to dox himself due to the irs rules. When in fact it doesn’t matter because those funds will never be moved.

Even if he is still alive he probably has tons and tons of 50 BTC coinbase transactions he can spend which are further away from the genesis block and make it less risky to be linked to his mining laptop.

[pooya87]

If you ask me the only thing that worth discussing about this event (which is also neglected) is the fact that those attacking Bitcoin have a lot of money to waste, specially when we consider the links some users point out between the origin of these funds and the ongoing attack against Bitcoin known as Ordinals.

[Samlucky O]

There are many rich people out there and many of them are bored and reckless so it is not that unbelievable to think that someone would do this for fun

Or probably the person is trying to gain Satoshi attention. Because many people would spend any amount of money or bitcoin to get the attention of Satoshi if truly he's alive.
Over the years people have Been so inquisitive about  satoshi existence and having that mindset that I wish I could see him face to face even its only once to congratulate him for his genuine discovery and how he has help the financial system of World and also pulling many out from poverty. So any body who does such transactions has his porpose. I know it's funny to think on how someone can waist such amount , but we should also know that the early miners had the opportunity to accumulate more and those set are extremely rich by now.
Whosoever is sending bitcon to satoshi to gain his attention is waisting the bitcoin and also his time because satoshi is holding about 2 million bitcoin and That is not a joke kind of amount.

[Kakmakr]

Everyone knows the bitcoins in the "Genesis block" are not speneable, so they send bitcoins there to burn it and also to be part of the history, because that block gets the most attention.

People get a bit of notoriety, when they send bitcoins to a block that started this whole experiment.