Do you think Satoshi will ever spend his bitcoins?

[yayayo]

We don't know who/what Satoshi is. We don't know for certain all the coins belonging to him.

But if he is a single individual he might spend some of his coins in the far future. Most likely it will be coins that are not on the radar of the Satoshi-stalkers or it might be after bitcoin has technically improved privacy mechanisms.

ya.ya.yo!

[Karma Druid]

I don't think so. I reckon Satoshi is a really nice guy! He would never crash this currency!

[Beliathon]

I don't think so. I reckon Satoshi is a really nice guy! He would never crash this currency!

2 posts? THIS GUY IS PROBABLY SATOSHI! LET'S GET HIM!! We'll beat the Bitcoins outa him!




(joking, obv)

[bigasic]

As we don't know if satoshi is one person or a group. I suspect that those coins will start to move once bitcoin gets out of Beta stage. Once Bitcoin becomes stable and is used by a lot more people is when I suspect we will be at that stage.. My guess is that Bitcoin prices would be above 5k a piece with a steady climb. I suspect that someday we will  know who or what satoshi is. Im very surprised that those coins havent been touched. But, I bet there are other wallets that are connected to satoshi that have been used...

[DjPxH]

So, do you think Satoshi will ever spend his bitcoins?
You can only answer with Yes or No on the poll. Got it?

This is going to be very interesting to see the results.
The reason there isn't a "maybe" is so that we can get a definite answer.

Difficult question, I don't think anyone knows. But I personally don't think so. It would bring chaos into this ecosystem. Maybe he sees those coins as some sort of last resort reserve.

[milan74]

If he is still in this world, I think he will spend part of his bitcoins.

[Omikifuse]

I think the pre mined coins are a bounty to incentive people try to break the bitcoin algorithm.

So no, he will never spend the pre mined bitcoins.


Of course he has much more bitcoins not publically linked to him, some spent, some not, and some to be spend.

[michaelwang33]

I don't think he is going to use them. The system is not anonymous enough and he has too many to use a mixer effectively.

Maybe if Tor wasn't under suspicion of being compromised he could use his coins to run an anonymous mixer (coins come in, get mixed around with his) providing him with some anonymity but that also would draw legal attention for laundering.

I think it will be his next of kin that ultimately benefit.

it's not like he has to mix them all. he can just cash out a million or two. but i don't know if it's going to happen either way. safest way to go about is maybe donate the coins to a charitable organization.. he can't be caught doing that.

Cashing out some has too much chance of a DoX resulting in criminal targeting. e.g. someone kidnaps a niece for bitcoin ransom.

Remember that if he is in the US any sizeable withdrawal requires reporting to government by whatever exchange is used.

there are several ways he could cash out semi small amounts with leaking his identity. Mainly through the use of mixers and local trades.

[doubleredrolex]

maybe he's already been spending and cashing in BTC from other wallets. He could have another million of them somewhere else. He might have more money than he can ever spend in 10 lifetimes now. We will never know unless he comes forward. I think having him be a mystery is better for BTC and its growth. He's a smart man. He disappeared for a reason and he's living comfortably off his stash of BTC.

[TinEye]

From the initial million or so, I think only one block has been spent. There was an article here which details how it got distributed. I don't think he is going to touch the remaining.

[GrandMasterB]

It would make sense for him to spend his bitcoins on goods and services. It would be more inspiring and helpful to the project than hording them. It's a currency, so use it as such.

Trading it for fiat would be bad. Big difference.

I imagine there just isn't enough stuff for him to spend it on and live amicably yet.

[dadaas]

I think he will spend his Bitcoins only when he purchases something. I don't think he will ever sell them for fiat. But I might be wrong...

[Razick]

I think he hasn't yet because it could risk de-legitimizing Bitcoin. If he spent his holdings Bitcoin would be more open to being called a ponzi scheme.

[Bit_Happy]

I think he hasn't yet because it could risk de-legitimizing Bitcoin....

I think at some point those coins will move. I can't see sitting on that much potential wealth and never moving it. I think if and when they do move it would cause a bit of a panic. If they never move then the owner is a better man then I.

I think it would be incredible if they never move it really shows that satoshi actually cared about the project and removes the possibility of people calling it out as a scam for the creator to earn a quick buck.

"Creators" have the right to make money off of their creations and be proud of it, without having to be concerned what others think.

[Ektra]

Obviously he or they have the 'right' to make money off it. Doesn't change the fact that it would be regarded as a pretty significant event and yes, possibly damage people's perception of bitcoin. Remember that part of the mystique and allure of bitcoin is that it almost has a deus ex machina thing going on, with the disappearing and anonymous originator. Up to him/them to decide if potentially ruining their life's work is better or worse than living like a king!

[bigasic]

I bet a lot of the early early adopters sold when btc hit 10 bucks a piece, im sure they kept some, but I bet the most were spent. Except for satoshis addresses. If I was one of the first and had thousands of coins and all of a sudden they were worth 10 bucks a piece, you bet Id be selling some, or a lot. Especially if they held on to them for a couple years, bitcoin really didnt do much until the spring of 2013.

[ArticMine]

Voted yes because if Satoshi is human (not an agency, corporation, organization etc.) there is a strong possibility that if he or she does not spend his or her bitcoin his or her estate will. This issue here is depending on the jurisdiction is capital gains taxes triggered on death (deemed disposition upon death), estate taxes or both.

[TheJohn]

No, because he forget where he put his wallet..

[QuestionAuthority]

I don't really see anywhere in this economy to spend that amount of coin. I guess he could buy Overstock completely out of product and open his own online store. He would probably put BitPay out of business doing it though.

[Razick]

I think he hasn't yet because it could risk de-legitimizing Bitcoin....

I think at some point those coins will move. I can't see sitting on that much potential wealth and never moving it. I think if and when they do move it would cause a bit of a panic. If they never move then the owner is a better man then I.

I think it would be incredible if they never move it really shows that satoshi actually cared about the project and removes the possibility of people calling it out as a scam for the creator to earn a quick buck.

"Creators" have the right to make money off of their creations and be proud of it, without having to be concerned what others think.

Sure they do, but not spending it removes that criticism. No one can say Satoshi mined tonnes of coins before they were hard to mine and then dumped them later.