Why would Satoshi not be dumping?

[DieJohnny]

He is likely either dead or destroyed his coins and is true social recluse.

One day his coins will be a big problem, the reason i think he is dead is because he knows what a million bitcoins lurking can mean to the stability of the market and he clearly wanted bitcoin to take over as a payment medium. He would have resolved his million bitcoins by now if he could.

He could resolve the million coin problem in many different ways but I would vote for him doing a viral marketing campaign that will give away his bitcoins on a date in the near future, say six months. Everyone with a changetip account for example will get a satoshi tip that all told will add up to a million coins. yes the price may dive afterwards but the uptick in real users would offset it and send bitcoin to mass adoption.

Satoshi can, with one well planned event, send bitcoin into the mainstream for good.

Come on Satoshi contact me and I will help you get this done. I won't even ask you to pay me.

[johnyj]

The fact that he never combined any coins from those thousands of addresses might indicate that most of those wallets were never saved. To the end, the best way to advertise a system's advantage is that the creator never benefited directly from the system

[DieJohnny]

The fact that he never combined any coins from those thousands of addresses might indicate that most of those wallets were never saved. To the end, the best way to advertise a system's advantage is that the creator never benefited directly from the system

It would still be better if he would somehow make it known what happened or is going to happen with those coins....

[o0o0]

Satoshi is either an incredibly smart single individual or a collective mind with an end goal. Personally i think its too much for one individual to create so i believe its a collective hive mind if you will.

The coins mined by satoshi were likely part of the test as it grew. It would be detrimental for those to be sold off while the currency is still in adoption phase. If it truely is a group creation or a government creation we won't see those coins go for many years to come.... its not feasible to sabotage the project.

Nobody should worry about those coins destroying market value as they would be sold off when the market value increases way more.

For now spread the BTC love and increase its adoption and value. Thats all we can do if we do indeed believe in currency evolved.

[btcxyzzz]

If it truely is a group creation or a government creation we won't see those coins go for many years to come.... its not feasible to sabotage the project.

Would you explain how can Bitcoin be feasible for governments at all? Emission is controlled and known in advance, contrary to USD fairy tale which they emit at their will.

[galdur]

Maybe this satoshi guy never existed - as such.

[neurotypical]

Pretty sure he took a big dump at 1k and bought all he needed and still holds most of the Bitcoin reserve. Other bitcoin lotery winers aka early adopters like rpietila bough a damn castle, im sure most luckytime guys sold and bought shit already, but still hold a big % of bitcoin just in case it doesnt crash.

[poncom]

Pretty sure he took a big dump at 1k and bought all he needed and still holds most of the Bitcoin reserve. Other bitcoin lotery winers aka early adopters like rpietila bough a damn castle, im sure most luckytime guys sold and bought shit already, but still hold a big % of bitcoin just in case it doesnt crash.

A couple of million would keep most people happy. I'd be surprised if Satoshi is not already a millionaire. He will probably hold any coins he has left and dump a few during each new rally, but not so many that he draws attention to himself.

[dinofelis]

Pretty sure he took a big dump at 1k and bought all he needed and still holds most of the Bitcoin reserve. Other bitcoin lotery winers aka early adopters like rpietila bough a damn castle, im sure most luckytime guys sold and bought shit already, but still hold a big % of bitcoin just in case it doesnt crash.

A couple of million would keep most people happy. I'd be surprised if Satoshi is not already a millionaire. He will probably hold any coins he has left and dump a few during each new rally, but not so many that he draws attention to himself.

The point is that you can verify for yourself the first 24000 blocks or so: the reward addresses still contain the 50 coins, and have undergone no transaction at all (very funny, the first address, of block 0, has received quite some extra coins, even in 2014)

[Robert Paulson]

he doesn't have the wallet.
back then bitcoin was fun money he probably erased and created a new wallet tens of times during 2009-2010.

[devphp]

he doesn't have the wallet.
back then bitcoin was fun money he probably erased and created a new wallet tens of times during 2009-2010.

Why would he erase it? Even back then hard drive space wasn't such a rare commodity only takes a few seconds to backup the wallet.

[cellard]

he doesn't have the wallet.
back then bitcoin was fun money he probably erased and created a new wallet tens of times during 2009-2010.

Im sure he does. He is intelligent enough to create bitcoin, hence intelligent enough to not lose his original wallet.

[Brewins]

You don't know who he is. He probably made it in a way that people like you would not be able to link any moves to his people

[keystroke]

He posted that it is never good to delete a wallet for any reason.

[opossum]

Pretty sure he took a big dump at 1k and bought all he needed and still holds most of the Bitcoin reserve. Other bitcoin lotery winers aka early adopters like rpietila bough a damn castle, im sure most luckytime guys sold and bought shit already, but still hold a big % of bitcoin just in case it doesnt crash.

A couple of million would keep most people happy. I'd be surprised if Satoshi is not already a millionaire. He will probably hold any coins he has left and dump a few during each new rally, but not so many that he draws attention to himself.

He is all but certainly much more then a millionaire. He is most likely a multimillionaire (he probably actually has several hundred million dollars worth of bitcoin).

I would say that he has not sold his bitcoin because there are no viable options that he can sell his bitcoin that would not involve his identity being discovered.

[Berau]

Satoshi is no god or some higher tier. He is also a human and maybe when he gets older he wants to buy a nice isle with a house.

So, why should he or any other early adopters would not "dump" his coins?

All his work would be useless if he didnt dump his coins, because then he wont have anything to live...and he wont be rich.


Meanwhile i think this perma dumping is done by someone like satoshi who was an early adopter and has "unlimited" amount of coins...


In the end, bitcoin gets stronger out of it because the coins are shared between more users, but the value will go down.

He still loves his coins, obviously.

[pooya87]

it is hard to believe but not all humans are greedy. i don't think he created bitcoin to get rich (unlike altcoin devs).

[bassclef]

I kind of hope that he burned the Bitcoins, discarded the wallets. It's possible he cares more about Bitcoin than personal wealth.

It's a possibility and not out of the question.

My guess is that he has cashed out a few, and if he hasn't he should, because certainly he deserves it.

[dinofelis]

I kind of hope that he burned the Bitcoins, discarded the wallets. It's possible he cares more about Bitcoin than personal wealth.

It's a possibility and not out of the question.

My guess is that he has cashed out a few, and if he hasn't he should, because certainly he deserves it.

The point is that he cannot spend these coins without giving up the secret of his identity.  No matter what he does in order to spend those coins against something else, the one receiving the payment would of course know who is his customer, to provide the goods or services.

Everybody knows that if you receive a payment in bitcoin that comes from the 37th block on the chain, it is Satoshi him/herself who is paying you, right.

Even putting those coins in a coinjoin style laundry would be extremely difficult without being traced.  Of course he could use Tor, but Tor is not entirely sure either.  So many people are eager now to find out who she is, that it would be way way too risky to ever sign a transaction on those coins.

Also, the effect would be devastating on bitcoin: if Satoshi sold his/her coins, what does that give as a signal about the future of bitcoin ?  Any movement on those coins will be seen immediately.

If Satoshi wanted to let know that these coins are not redeemable, then there would be other ways to do so.  The simplest would be to send them to a script that simply states OP_RETURN.

[erpbridge]

We never know if he is or isn't. He can easily have a lot of other bitcoin addresses or mined ones, which could have already been sold, giving him enough amount for a lifetime. If he needs the other coins, he might sell them in future. Its hard to say that he didn't already do that.