What if Satoshi's wallet is touched?

Discussion in 'Cryptocurrency, Finance, & Gambling Discussion' started by Eazy E, Mar 12, 2018.

What if Satoshi's wallet is touched?
  1. Unread #1 - Mar 12, 2018 at 2:07 PM
  2. Eazy E
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    What if Satoshi's wallet is touched?

    if the famous Satoshi's wallet is actually touched (funds being moved or even has any sign of being accessible in anyway) the market would completely crash. I see this as a huge problem because

    1. We don't know who Satoshi is
    2. We don't know if Satoshi is dead (if it is even a he/she.. Could be a group of people, and could be the U.S. Or U.K. Or Japanese government or some organization/institution)
    3. We wouldn't know the funds are being loved until the funds are moved.

    If the wallet with an estimated Billions of dollars was dumped, moved, or split, the market would go absolutely berserk and we could easily see the real "death" of Bitcoin.

    When Charlie Lee sold his holdings, Litecoin's image took a huge hit. Charlie didn't dump for any malicious reason, but it still hurt the market.

    So what do you guys think? Would the sell off ruin the market? Would a sell off of this specific wallet not change much due to the fact that someone/people would buy the BTC, and the wealth would be distributed?
    What are your thoughts?

    On a scale of 1-10, how likely is this scenario?
     
  3. Unread #2 - Mar 12, 2018 at 2:24 PM
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    What if Satoshi's wallet is touched?

    Meh, the risk of him/her/them being alive and able to dump the market should already by priced in and you should consider it a risk of investing in crypto.
     
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  5. Unread #3 - Mar 12, 2018 at 6:43 PM
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    What if Satoshi's wallet is touched?

    That's true

    But what if that price isn't factored in? Half of people investing don't understand that.

    What if it does happen. Do you think the price would go to 0 or close? Do you think it could kill it?
     
  7. Unread #4 - Mar 12, 2018 at 7:01 PM
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    What if Satoshi's wallet is touched?

    Well, I have 4 reasons why I don't think btc would dump close to 0. (first 3 are logical last is kinda theoretical)
    I'm not actually educated in this field, so don't rip me apart, i'm just applying logic.

    1.
    To be honest, even if satoshi was alive, I doubt he/she/they could actually dump the market below a couple thousand. I mean, if you were satoshi, would you:
    A: Slowly sell of btc over some length of time and get, say, $5k average per btc
    B: Dump everything, and get $500 average per btc

    2.
    Further, there are other big market players. I remember reading about the Winklevoss bros being btc billionaires, they could for sure dump the market as well. Further, exchanges and mining pools probably hold a good proportion of btc, right? This takes away Satoshi's monopoly power.

    3.
    Satoshi wouldn't dump their btc on exchanges due to fees, leaking info and mainly there not being enough liquidity.
    Therefore, Satoshi would probably go direct to private investors and sell their btc for lets say 50% of market value in a contract where these investors cannot sell the btc for 5 years lets say.
    This is probably how big movers trade large amounts of btc/stocks in order to not crash markets.

    4.
    One of the main reasons why BTC got so popular is the fact that there is a finite number of them, but the fact that there is an unknown - if satoshi is alive or not, and if so, how many btcs does he have - means that the number of btc's in circulation there are, in theory, is unknown, or in the short run, supply of btc is infinite (or perfectly elastic) if you will. Therefore, i believe that if satoshi dumped their btc, yes the price would drop initially, but then rebound up as we now would know that there is a finite number of them in circulation, and supply then becomes perfectly inelastic. Inelastic supply means any increase in demand would strictly raise the price level.
     
    Last edited: Mar 12, 2018
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