Quote from: LoyceV on September 11, 2024, 04:41:58 PM

Quote from: Synchronice on September 11, 2024, 10:51:08 AM

2. He is one in a billion man who stands strong to protect Bitcoin at all costs. His aim was the true decentralization of Bitcoin without trusting 3rd parties and for this reason, he cut himself from Bitcoin for better but left an ACE in his hands, i.e. one million Bitcoin. If the decentralization of Bitcoin gets significantly affected, then Satoshi will come out of nowhere and make a big changes with his one million Bitcoins in hand.

What's he going to do? Use his money to rule over Bitcoin to make it more decentralized? Don't you see the irony in that?

I read someone's argument on this forum or Reddit, I don't exactly remember but the argument was that Satoshi can make a significant difference in terms of decentralization because he owns 1 million Bitcoins. At the moment, there are 19.72 million Bitcoins mined and majority of them are owned by exchanges but at the same time from 19.72 million Bitcoins, AFAIK, more than 30% of them are lost. It's not a certain number of course, it's a pure speculation but if so many coins are lost, then there are 14 million Bitcoins in active circulation. It's 7% of 14 that Satoshi holds, so, if he actives his coins, then he can significantly affect the centralization because he is a different player. What I mean is that, for example, if CEXs control more than 55% of active coins (55% of 14 Million = 7.7), then when Satoshi revives his 1 million Bitcoins, then the number of active coins will become 15 million and instead of 55%, CEXs will hold 51.3% share.

1% is what decides the fate of Bitcoin (I mean 51% attack), right? So that's what I'm talking about. I don't know if I explained it well but I hope I did but maybe I'm wrong and it means nothing, I dunno.