Quote from: hatshepsut93 on June 01, 2018, 04:50:17 AM

Quote from: gentlemand on May 31, 2018, 10:47:40 PM

Quote from: squatter on May 31, 2018, 10:43:35 PM

Didn't know Laszlo was a GPU mining pioneer, though.

As far as I know he was the very first to suggest it. Satoshi indeed asked him to lay off the idea to give others a chance with their CPUs. I'm not sure if he did or not. Presumably if he blew 10,000 coins and had many more he did not.

Edit - confirmed here - https://cointelegraph.com/news/bitcoin-pizza-guy-laszlo-hanyecz-on-why-bitcoin-is-still-the-only-flavor-of-crypto-for-him

This is very interesting in the light of "Satoshi owns 1 million coins" myth that is being brought up so often . It seems like Satoshi was against concentration of big amounts of coins in one hands, so this might mean 2 things:

1. Satoshi didn't mine any disproportionate amounts of coins, there were many early miners that we don't know about.

2. Satoshi did mine big amounts of early coins, but he destroyed them or don't plan to spend them in any way.

The former is possible.... there's been some analysis about this. Apparently, Hal Finney stated that he mined one of the first 100 blocks. Per the same article, the hash rate stayed constant around 5 MH/s for the first six months after genesis. I suppose that suggests there weren't many other early miners.

That author concludes:

Quote

Based on the above, I find it reasonable to assume that most of the hashing power in the first year or so of Bitcoins existence came from Satoshi Nakamoto. If real users were actually joining and leaving Bitcoin, one would expect the hash rate to have varied a lot more, particularly in the first six months. Starting in early 2010 the network hash rate does start increasing rapidly, suggesting thats when the real serious users started using (and mining) Bitcoin.

I think it makes sense to assume the Satoshi coins number somewhere in the millions. Pinpointing a number would be a futile exercise. Let's hope those keys were destroyed. Tongue