Post
Topic
Board Bitcoin Discussion
Re: Satoshi probably started a new coin.
by
Amph
on 04/07/2015, 18:55:09 UTC
so dumping for him would be a good thing, also remember that he say in 20 year bitcoin will be nothing or really big, so he has taken into account the fails of bitcoin, and do you think he is that stupid to "baghold" 1M coins if bitcoin will fail?

He mined the coins on his computer when the difficulty was very low, the electricity costs were therefore insignificant. The real "investment" were the years of unpaid work put into developing bitcoin. He never seeked seed capital or asked for any sort of financial help, so it is safe to assume he was doing fine financially and his main intention was not to enrich himself, unlike all these premine and ICO shitcoins out there nowadays. He believed in the idea and wanted to see it make a wide impact. So no, dumping all his btcs is not a good thing for him.

Besides 1M is just a guesstimate as no one knows for sure which wallets belong to Satoshi. I do believe the bulk of the early mined coins will be left untouched as the purpose was to keep the network running, not hog all the coins. But I think he still has a decent (and fair) amount of it. out of all the btcs that were distributed in the beginning, how do you know some of them did not end up at other wallets that Satoshi had and later used to buy stuff or sell for fiat??

"Satoshi" might even be reading this and chuckling at the idea that he lost all his keys or left bitcoin for a altcoin

How do you find someone who has spent a lifetime covering his tracks?

For some, he was a guardian angel. For others, a ghost, who never quite fit in.

i think you are partially correct, no one can know for sure that satoshi's intentions were not aiming at enriching himself

what if he created the whole bitcoin thing just to take advantage of the early diff, knowing that he will be the only one in the network(maybe it wasn't his intention at first but it could have been grown later on him when he see the potential in price of his creation), and so mining a shitload of coins