RE: Satoshi Nakomoto Owns 1m Bitcoins, and Has The Potential To Become The Richest Man In The World
Given that at some point, Satoshi Nakamoto decides to flood the market with his Bitcoins, he could very well tank the price of Bitcoin.
I don't see why he would do that however, no reason for him to kill his own baby.
My theory is more, that he simply has removed any access to his wallet, to prevent him from any temptations to cash it out in the future. Because today, there are quite some reasons, why he would like to crash the price (which would hurt the price of BTC - but not the technology or the principle behind it).
Because right now, the heavy speculation (and most likely manipulation, if we consider Tether and Bitfinex) on BTC itself is preventing BTC from being what Satoshi had in mind for it in the first place - being a currency.
This might be an romantic thought, but this is what I would have done back then.
A romantic thought indeed!
That would really be crazy! Can you imagine being Satoshi Nakamoto, having destroyed the keys and watching as the price of Bitcoin continues to rise day by day?
It is seriously such a wonder to who it may be and what he is up to.. I am doing some research on the matter and may do a follow up post on the possibility of who it may be!
Stay tuned!
I am quite sure, that the price and his theoretical riches do not matter to him, if he is alive and content with what he has. Because being filthy rich makes some things easier, but only cretins would actually embrace a hedonistic lifestyle.
There is truth in your statement. Satoshi Nakamoto first surfaced after the economic crisis in 2008, in light of the greed and power-mongering of the centralized financial institutions.
How great, that it is now his very invention, that is slowly yet surely siphoning away power from the centralized financial institutions.
I personally am not so sure, if his goal is achieved the way he wants.
After all, the hashingpower of BTC is mostly centered around big companies.
The currencies are traded in centralized exchanges.
People take BTC as an object for speculation, not knowing any background (be it the technological or the philosophical one).
These are just some issues, a cypherpunk would most certainly not like about this. After all, trading government control for company control would be basically the same in this philosophy, I think.
I agree, Bitcoin may not have turned out exactly as he may have envisioned. Nonethless, Bitcoin paved the way for the possibility of it being achieved. A good example would be Verge Currency
Hey again @randallmaller! I just posted a more in-depth post about Satoshi Nakamoto and I thought you might enjoy it!
Cheers!
The Chronicles of The Father of Blockchain : Satoshi Nakamoto [Deep Dive]