Satoshi ..Private key lost?

[BlindMayorBitcorn]

satoshi doesn't care about losing his private keys maybe because he is one of the few people who know how to hack the wallet? why it would be incredible if he built in a back door ! muuuahahaha

Dear Troll,

Where did you come from and what is your purpose here?

Sincerely

[anshar]

satoshi doesn't care about losing his private keys maybe because he is one of the few people who know how to hack the wallet? why it would be incredible if he built in a back door ! muuuahahaha

Dear Troll,

Where did you come from and what is your purpose here?

Sincerely

Let me answer that for you:

He is trying and failing at spreading FUD.

Go away you troll ^^

[J3VVL]

satoshi doesn't care about losing his private keys maybe because he is one of the few people who know how to hack the wallet? why it would be incredible if he built in a back door ! muuuahahaha

Dear Troll,

Where did you come from and what is your purpose here?

Sincerely

i'm from the welfare line ... i'm hoping bitcoin will change the world for the better. So far what has bitcoin done to help the people? Wikileaks? lol what change happened because of that noise? just sayin!

[scarsbergholden]

satoshi doesn't care about losing his private keys maybe because he is one of the few people who know how to hack the wallet? why it would be incredible if he built in a back door ! muuuahahaha

This is not true. The Bitcoin protocol is open source so if there was a "back door" then anyone would be able to see it and point it out.

Also the protocol has been chanced several times since satoshi has stopped work on Bitcoin so any "back door" would have likely been closed during any hard fork

[J3VVL]

satoshi doesn't care about losing his private keys maybe because he is one of the few people who know how to hack the wallet? why it would be incredible if he built in a back door ! muuuahahaha

This is not true. The Bitcoin protocol is open source so if there was a "back door" then anyone would be able to see it and point it out.

Also the protocol has been chanced several times since satoshi has stopped work on Bitcoin so any "back door" would have likely been closed during any hard fork

satoshi seems like a genius and i would not put surprised..also Gavin could be in on it ? lol

[jyakulis]

satoshi doesn't care about losing his private keys maybe because he is one of the few people who know how to hack the wallet? why it would be incredible if he built in a back door ! muuuahahaha

Dear Troll,

Where did you come from and what is your purpose here?

Sincerely

i'm from the welfare line ... i'm hoping bitcoin will change the world for the better. So far what has bitcoin done to help the people? Wikileaks? lol what change happened because of that noise? just sayin!

How about all the people that now have jobs in asic technology, mining companies, new start ups etc.

[J3VVL]

satoshi doesn't care about losing his private keys maybe because he is one of the few people who know how to hack the wallet? why it would be incredible if he built in a back door ! muuuahahaha

Dear Troll,

Where did you come from and what is your purpose here?

Sincerely

i'm from the welfare line ... i'm hoping bitcoin will change the world for the better. So far what has bitcoin done to help the people? Wikileaks? lol what change happened because of that noise? just sayin!

How about all the people that now have jobs in asic technology, mining companies, new start ups etc.

the chinese the chinese the chinese?  ...gotcha ya honestly mostly bitcoin is driven by wall street speculators, drug dealers and other darkweb shadeballs ... i've come across very few people who have really come out ahead from the whole thing...just sayin'  been at this for over 2 years ! :[

[roslinpl]

What is the probability that the reason for the non movement of Satoshi coins is that the private key has been lost ( and what implications does this have?)?

As wallets have become more secure would these coins not be moved to something considered "safer" ?

When was a large chunk last moved? If it was years ago does this not support the likelihood of a lost key and the inability to access these coins?

If there is proof/indication that these are still active/ accessible it would be nice to see that to put my mind at rest .

If there is no convincing proof of continued access then this article can be ignored.

http://www.coindesk.com/dangerous-satoshi-nakamoto/



Satoshi certainly has a lot of funds. Bitcoin security consultant Sergio Lerner's oft-cited analysis puts the figure at around 1m BTC, based on the early mining that he or she did.

Most of those coins were unspent, the exceptions being some test transactions during the first ten days after Satoshi mined the genesis block (the first block on the blockchain).

So many conspiracy theories about that. At least there is some funny part of it ...

In my opinion. Let say that "you" are Satoshi.

1. You must be a genius minded man/men. Perhaps not poor and you know how to earn money. You are economy and coding expert.
2. When Satoshi was mining his thousands of Bitcoins price per 1BTC was very low. For him it was non-sense to spend his mined coins. He don't need few dollars..
3. When Satoshi was "gone" it was the middle of December 2011 price per 1BTC was @~$3.9, Well, he already had nice amount of money
4. Satoshi used all securities to stay anonymous. So he decided to leave those coins like they are And well ... when he will (maybe) spend them after 10-20 years ... imagine how rich he will be? Then it make all sense

5. We don't know who is Satoshi. Most likely he is mining bitcoins and he is perhaps coding many different things as he created bitcoin - he must be big inventor! So ... he have money to live (I believe). He don't want to finish like Tesla. That's all. That's why coins are waiting for the times, when he will be able to show his face or just will make sure that he is untraceable after spending any of those coins.

6. Maybe one day we will know ... now nothing is for sure we can only speculate.

7. I think he have also some other economic reasons to keep those coins where they are.

Kind regards.

[Mickeyb]

5. We don't know who is Satoshi. Most likely he is mining bitcoins and he is perhaps coding many different things as he created bitcoin - he must be big inventor! So ... he have money to live (I believe). He don't want to finish like Tesla. That's all. That's why coins are waiting for the times, when he will be able to show his face or just will make sure that he is untraceable after spending any of those coins.

This is definitely the main reason why coins haven't moved. He loves his security and he is a super mind, he already has a ton of money without a Bitcoin!!

[J3VVL]

if satoshi still holds the keys i'm %99 sure he is still an active member of this forum!!!    

...why would he bounce?... just use a different name(s)!!!

[caga]

- He is afraid of beeing found when he spends one satoshi
- He forgot his wallet passwords
- The harddisk with the wallets crashed
- He is dead

(Most likely in that order)

Collectively "Satoshi Nakamoto" is waiting for mass acceptance before revealing himself and starts dumping coin in market.

He might never know when that stage is achieved. It might already have or might happen soon. Even if it is mass accepted, the price won't necessarily sky rocket.

[Flashman]

Collectively "Satoshi Nakamoto" is waiting for mass acceptance before revealing himself and starts dumping coin in market.

He might never know when that stage is achieved. It might already have or might happen soon. Even if it is mass accepted, the price won't necessarily sky rocket.

Although if it is mass adopted, at suborbital price, then he can probably dump whenever and it won't twitch a penny.

[numismatist]

The only thing anyone can be certain about is that his coins never moved thus far. Outside of that, everything else is speculation.

And we all know how much people like to speculate on here  . For some people that is all they're interested in sadly.

Well, "the Sword of Damocles" http://en.wikipedia.org/wiki/Damocles naturaly. Who would not consider?

[qwerty555]

- He is afraid of beeing found when he spends one satoshi
- He forgot his wallet passwords
- The harddisk with the wallets crashed
- He is dead

(Most likely in that order)

Collectively "Satoshi Nakamoto" is waiting for mass acceptance before revealing himself and starts dumping coin in market.

He might never know when that stage is achieved. It might already have or might happen soon. Even if it is mass accepted, the price won't necessarily sky rocket.

Occam's razor (or Ockham's razor) is a principle from philosophy. Suppose there exist two (or more)explanations for an occurrence. In this case the simpler one is usually better. Another way of saying it is that the more assumptions you have to make, the more unlikely an explanation is. Occam's razor applies especially in the philosophy of science, but also more generally.

Which is the simplest explanation with the least amount of assumptions?

[wunkbone]

Collectively "Satoshi Nakamoto" is waiting for mass acceptance before revealing himself and starts dumping coin in market.

He might never know when that stage is achieved. It might already have or might happen soon. Even if it is mass accepted, the price won't necessarily sky rocket.

Although if it is mass adopted, at suborbital price, then he can probably dump whenever and it won't twitch a penny.

Regardless of the price, in order for satoshi (or anyone for that matter) to be able to sell large amounts of bitcoin without affecting the price significantly, the market will need to be very liquid, and have a very high amount of trade volume. I agree that both a higher price and higher adoption rates will help improve liquidity, these two alone will not necessarily make it easier to "dump" large amounts of bitcoin on the market.

Regardless when satoshi decides to sell he will probably not do so all at once, rather would sell only a little at a time

[J3VVL]

Collectively "Satoshi Nakamoto" is waiting for mass acceptance before revealing himself and starts dumping coin in market.

He might never know when that stage is achieved. It might already have or might happen soon. Even if it is mass accepted, the price won't necessarily sky rocket.

Although if it is mass adopted, at suborbital price, then he can probably dump whenever and it won't twitch a penny.

Regardless of the price, in order for satoshi (or anyone for that matter) to be able to sell large amounts of bitcoin without affecting the price significantly, the market will need to be very liquid, and have a very high amount of trade volume. I agree that both a higher price and higher adoption rates will help improve liquidity, these two alone will not necessarily make it easier to "dump" large amounts of bitcoin on the market.

Regardless when satoshi decides to sell he will probably not do so all at once, rather would sell only a little at a time

a million coins would crash the price to zero ... no? \_(x*O)_/

[Plutonium]

I personally believe that for what satoshi believed in and his circumstances of being found out, making transactions with that specific address/wallet would be a very bold move and would attract a lot of attention.
In my opinion:
-- He's thrown the key away for what ever reason he may have to do that
-- He will wait until his last breath to send it to whom he chooses, wherever bitcoin may be at that time.

[J3VVL]

I personally believe that for what satoshi believed in and his circumstances of being found out, making transactions with that specific address/wallet would be a very bold move and would attract a lot of attention.
In my opinion:
-- He's thrown the key away for what ever reason he may have to do that
-- He will wait until his last breath to send it to whom he chooses, wherever bitcoin may be at that time.

i'm leaning towards the keys are lost or gone...now who will figure out how to hack them is the question?

[J3VVL]

- He is afraid of beeing found when he spends one satoshi
- He forgot his wallet passwords
- The harddisk with the wallets crashed
- He is dead

(Most likely in that order)

I think he would have more than one harddisk with the wallets. He's either dead or not deleted the keys, if he was going to spend the coins he would have already.

it would have made sense to give Gavin a backup? lol .. who knows 

[wunkbone]

- He is afraid of beeing found when he spends one satoshi
- He forgot his wallet passwords
- The harddisk with the wallets crashed
- He is dead

(Most likely in that order)

I think he would have more than one harddisk with the wallets. He's either dead or not deleted the keys, if he was going to spend the coins he would have already.

it would have made sense to give Gavin a backup? lol .. who knows 

That would have been a horrible idea. At the time that Satoshi left he really did not know Gavin that well and he had really not yet shown himself to be as trustworthy as he has shown himself to be today.

Also it is never a good idea to give someone your private keys unless you intend for them to take/spend the bitcoin that the private key controls