Post
Topic
Board Bitcoin Discussion
Re: Has Wired discovered the real Satoshi Nakamoto? (.. this time)
by
TibanneCat
on 09/12/2015, 18:36:24 UTC
Then there is the fact of potentially 1M BTC stashed away until 2020, which just convinces me more of that which I've said all along....that one day Satoshi could, and might, pull the rug from under us all.

I don't follow. Satoshi's (arguably) 1.1M BTC is only ~7% of coins currently in existence. Blowing them out might tank the price down to near-zero -- for at least minutes. It'd be probably back to at least 50% value within a day, 75% within a month, and 200% within a year, as the market no longer would be factoring the possibility into EV. How exactly is that 'pulling the rug out'?

The price would tank to near zero before even 1/3 of that stash is sold, considering all the existing buy orders.
That would deal a deadly blow to the market and recovery would be hard when people know that SN still has plenty of coins to dump

Satoshi seems like a very logical person and dumping his stash like that would be an extremely illogical decision. I can see him slowly selling off part of the coins, which wouldn't negatively impact the price