Bitcoin should be forked and Satoshi's 1 million Bitcoin destroyed completely, if he really owns that much.
A sudden withdrawal of of 1 million (or large gradual withdrawals) should be regarded as an attack on Bitcoin.
Or it should be frozen for now until developers are sure no one is going to withdraw the whole thing and crash the market.
A sudden withdrawal of of 1 million (or large gradual withdrawals) should be regarded as an attack on Bitcoin.
Or it should be frozen for now until developers are sure no one is going to withdraw the whole thing and crash the market.
This is a very bad idea and would destroy the trust in Bitcoin. If you start forking coins out of the network, that would be the beginning of the end. Nobody has the right to decide at Bitcoin which coins are ok and which are not. Once the coins from Satoshi have been foked away, which coins will follow? Yours, mine or which ones? And who will decide that? As you can see, such a move would destroy the credibility of a decentralized currency. Even though Satoshi's coins seem like a threat, they're not.
You bring it right to the point with your statement. Nobody should be allowed in a system like Bitcoin to determine which coins are ok and which are not. A fork to improve programming I will always support, but not a fork that takes any coins out of the system. Such a fork will never get my support
There are a legion of Bitcoin forks already (and counting)
But they are mostly of no interest to anyone. Thus, if someone wipes away Satoshi's satoshi (provided it hasn't been done already and not just once at that), are you going to lose sleep over it? As there can be only one true Bitcoin, there seems to be only one true Bitcoin fork and that is Bitcoin Cash so far (though the doors are open). It makes a good vehicle for speculation, just in case. In fact, people are heavily overestimating the impact of these forks