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Author Topic: Satoshi Rumour  (Read 759 times)
ledgerman
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July 13, 2012, 10:46:18 AM
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I heard a rumor about Satoshi, that he created his project about 4 years ago and went into hiding because he was afraid of his life if the bankers found him. He decided he needed to abandon his project, to allow it to thrive, but decided that he would come back after 4 years. He knew the block reward would half every 4 years, and though he would take advantage of this opportunity to come and sell off and dump half of his bitcoins every time it does... I have heard he is planning to do this some time in December! Watch out guys, the markets would be annihilated if this is true!
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Bitcoin Oz
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July 13, 2012, 10:56:05 AM
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I hope he gets enough to buy an island.

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July 13, 2012, 10:57:24 AM
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I hope he gets enough to buy an island.

+1, he totally deserves it  Cheesy

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ledgerman
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July 13, 2012, 11:07:11 AM
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I like satoshi as much as the next guy, but does he really deserve all that?
alatus
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July 13, 2012, 01:56:54 PM
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Why not? Ingenuity should reap it's reward!
sadpandatech
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July 13, 2012, 02:10:15 PM
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Was gonna waste my time replying with an explanation why not @OP.

but, not worth the time.

tl;dr
me = fairly intelligent
satoshi = much more intelligent
me = would not cash out that way
result = satoshi defininetly would not cash out that way..

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It is being worked on by smart people. -DamienBlack
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July 13, 2012, 02:31:58 PM
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He knew the block reward would half every 4 years

I really wonder how he can know _that.  Shocked

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DannyHamilton
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July 13, 2012, 03:18:49 PM
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. . .He knew the block reward would half every 4 years, and though he would take advantage of this opportunity to come and sell off and dump half of his bitcoins every time it does. . .Watch out guys, the markets would be annihilated if this is true!
Markets annihilated?  Well then, that would be a dumb way to take profit from all those bitcoins.  That means he makes a lot of money off the first few bitcoins he sells off and the rest sell for just pennies?  Is Satoshi really that dumb?  Wouldn't it make more sense to sell off slowly allowing the market to adjust to the increase in bitcoins in circulation and maximize the exchange rate for each and every bitcoin?

The quality of posts has dropped to such a low level that all users who are participating in a paid signature campaign are added to my ignore list. If you'd like a copy of the list to improve your browsing experience, you can find it here: https://bitcointalk.org/index.php?topic=973843.0 (Updated 2016-1-4)
DannyHamilton
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July 13, 2012, 03:20:47 PM
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He knew the block reward would half every 4 years
I really wonder how he can know _that.  Shocked
You are joking. Right?

The quality of posts has dropped to such a low level that all users who are participating in a paid signature campaign are added to my ignore list. If you'd like a copy of the list to improve your browsing experience, you can find it here: https://bitcointalk.org/index.php?topic=973843.0 (Updated 2016-1-4)
anu
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July 13, 2012, 05:29:12 PM
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. . .He knew the block reward would half every 4 years, and though he would take advantage of this opportunity to come and sell off and dump half of his bitcoins every time it does. . .Watch out guys, the markets would be annihilated if this is true!
Markets annihilated?  ... Is Satoshi really that dumb?

Seriously, what would happen? Satoshi puts sell orders in the sum of BTC700K on all the exchanges. Price would go down to essentially nothing. Those who say WTF, buy them all. Price would bounce back. Within minutes.

So Satoshi needs to be dumb enough to do this, but smart enough to know when the drop in block reward is priced in.




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Install - Getting Started - BitcoinTalk Thread - Github Source
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