Satoshi's nest egg is worth a cool $5 billion at current prices
Satoshi Nakamoto is the undisputed creator of Bitcoin, however, no one knows exactly who Satoshi Nakamoto is.
Bitcoin is already shrouded in mystery, only adding to that mystery is the fact that no one even knows who created it.
Well almost no one, there is at least one person or person's out there that knows and that is Satoshi himself.
Either way, the one thing we know for certain is that Satoshi owns 1 million bitcoins and those bitcoins are worth more than $5 billion at today's prices.
A little backstory...
Back in 2008 Satoshi showed up on technology message boards releasing his 9 page white paper touting his idea behind bitcoin.
At this time it wasn't anything more than an idea on paper.
However, in 2009, Satoshi made those ideas come to life when he put out the first bitcoin software. During this time Satoshi communicated back and forth with developers via email and on message boards working to improve his program
Then in 2011, he vanished.
His last message read:
"moved on to other things."
Then poof, no more messages, no more emails. He was gone forever.
At this point not even his core developers knew who he was or where he went.
Questions remain.
At this point, some even question whether he was a single person or possibly a group of people.
The name Satoshi Nakamoto was obviously a pseudo-name, but questions remain as to who that name actually represented.
Over the years several have come out publicly stating they are Satoshi, with none of them likely being the culprit.
There have even been rumors that bitcoin was a government project, though again none of that can be substantiated.
What we actually know...
Basically, besides the history listed above, we know that Satoshi (whoever he/she is) owns roughly 1 million bitcoins.
Those bitcoins haven't moved since they were put in their wallet.
At today's prices, those bitcoins are worth north of $5 billion USD.
The question everyone wants to know, besides who Satoshi is/was, is probably what he plans on doing with those bitcoins?
They represent roughly 5% of the total supply ever to exist of bitcoin.
Which, on a percentage basis, is a larger percentage of the total than the gold the United States owns as a percentage of its total.
(say that 5 times fast)
Now, after reading all of that, I'd like to share with all of you some breaking news...
I am Satoshi Nakamoto.
Just kidding.
Or am I?
Let me know your thoughts in the comments section below.
Stay informed my friends.
Sources:
Image Sources:
https://www.techpowerup.com/234971/on-cryptocoins-i-think-i-know-why-satoshi-nakamoto-hides
http://www.bitcoindaily.com/2014/03/12/bitcoin-community-reacts-to-satoshi-nakamoto-reveal/
https://www.it-decision.com/single-post/2017/06/27/What-is-so-special-with-SMS-API-intergration
Follow me: @jrcornel
There is no indication the person or people known as Satoshi mined those blocks or controlled those keys now or ever. You do not know that. It is simply your speculation.
@sneak your observation is real, it is difficult to know if he is even a person. And if they own 1 million bitcoins, isn't that part of the total circulation of 21 million that will ever exist? If that is the case only 20 million in case this one million is lost in a parallel world. Upvoted. @gold84
I believe his point is that it's all speculation that 'satoshi' even controls the keys to the referenced 1 million BTC. It's a lot of BTC that has never moved, but we don't know who, if anyone, actually has access to it.
Thanks for the follow up @justinw. Upvoted your comment. @gold84
Your support is very welcomed too!
@justinw one million bitcoins!!!!! that's a lot of money and the guy doesn't have to prove anything to anyone to claim them. If true, i think he deserves it. i think somebody has to make a movie or TV show about him, something like Mr Robot. i know i would like to watch it
I agree.
We don't know the amount the creator of Bitcoin owns but it would be surprising if they didn't mine a huge amount and even more surprising to think they lost the keys to what they mine.
Not using those older wallet simply make sense even if it's just to let people entertain the thought nobody has access to these keys anymore.
nice
I agree but it still a mystery how much he own.......
Actually his last message was "I am not Dorian Nakamoto" in 2014. The most likely person to be Satoshi Nakamoto is the late cryptographer Hall Finney. He received the first Bitcoin transaction and had the neighbor called Dorian Satoshi Nakamoto. If he wasn't Satoshi, he knew who was.
If he really was the creator, and he is dead, I wonder who, if anyone, has access to those coins. Maybe some next of kin? Do they even know what it is? If it was lost or destroyed then that means for all intents and purposes there will only be 20M BTC ever available...
You know, there are a lot of lost bitcoins, not just this possible milion. Quite a lot of people lost huge amounts on hard drives or usb flash drives in the early days. Some people just lost their private keys.
It is estimated that 4-5 mil BTC are already lost forever.
Yea that makes sense, back then it wasn’t a big deal if you lost a bunch of BTC because they weren’t worth much. All even more reason that the price still has a lot of room to grow.
Even if Finney was Satoshi, and even if he were still alive, there is no evidence that those blocks were mined by him, or that he preserved those keys even if he did mine them.
I wonder how many BTC it would cost in the near future to be brought back to life?
"Hal Finney died in Phoenix August 28, 2014 and was cryopreserved by the Alcor Life Extension Foundation.[2][16][17]" wiki
Brilliant reply and piece of information, thanks for sharing! Maybe we are one piece of the puzzle closer to solving the mystery!?! ;) Namaste :)
Interesting. Was that confirmed to be from the same person/person's as the other previous interactions were?
Satoshi Nakamoto is dead.
Imagine that: 5 billion that will never be spent.
Satoshi Nakamoto is the nom de plume for the CIA operative that created Bitcoin. 😁
@cryptographic 5 billion, or trillions? Upvoted. @gold84
What ticks me off is that people will keep losing their private keys.
So more and more BTC adresses will become unreachable.
In 50 years their will be a lot of BTC just sitting in the blockchain but could never be accessed again.
What about the dude who spilled soda on his laptop and fried his harddrive with 7500 BTC on it?
Certainly helps keep the supply in check if that is true...
Just a supposition on my part, but very plausible IMO.
I agree. Pretty tough to leave $5 billion on the table, no matter how much you like your privacy.
Five billion that didn’t cost him a cent. Withdrawing any of it would hurt his coin (and I’m sure his pre-mining wallet isn’t the only bitcoin Sat
imagine , in some future , there will be pirates trying to find the lost bitcoins preserved in some hard disk, in some remote island. up voted @ cryptographic
more like treasure hunters i would say.
Thanks a lot for this extra piece of education on the mystery that seems to only deepen has time goes by.
The considerable amount of BTC this person own is astonishing and would probably be enough to keep this same person and the one knowing of her/his existence in full anonymity for a long time to come!?!
Namaste :)
The market has already assumed that the 1 million bitcoins supposedly under his control are dead. If they were moved, not even sold, it would prove they were still active, immediately adding 1 million bitcoins to the assumed supply and the price would crash. Whilst he would never be poor, he could never sell for anywhere near $5 billion.
That’s the joy of blockchain. We know the history of each and every coin.
The theory that Satoshi Nakamoto is a group of people is the most credible to me.
By the way, I love seeing unedited URLs. Thank you very much.
Not sure if that last part is sarcasm or genuine?!
Genuine.
Realy hate edited URLs.
Maybe for security reasons, which others will see as paranoia ...lol.
I just like for people to at least be able to see the title of where it came from if nothing else... I feel like that also encourages people to actually check them out for themselves as well. Thanks for the kind words!
We have these fishing sites lately, who try to get people's password by cloning Steemit.
So for me it's very important to see that when I click on a blog link. That I know that I will still be on the same site.
Is it still completely untouched?
I always wondered what would happened if he sold of like half of it. Hell or any of it at all. Probably mayhem in the markets lol.
It would crush the markets for a bit... $5 billion worth of selling at current prices...
Yeah well the drop from his selloff would effect investors holdings I was thinking more of the fact that the creator of btc was “losing faith” or something. A 20% drop instantly in any coin would certainly not be the bottom of that crash lol
The current market cap is $96 billion ( We have come a long way).
So just throwing $5 billion on the market would be really bad.
It remains a cool aspect of the whole Bitcoin saga :) Also apart from 1M BTC, he has 1M BCH and 1M BCG !
In my opinion he must be dead. Still it's remarkable he remains unnamed. But ok whoever you are/were Satoshi : thanks !
Daniel.Larimer.
I heard about it long time ago!!! But not sure aboout it