[ExI] dang, forgot

spike at rainier66.com spike at rainier66.com
Thu Jan 14 21:34:31 UTC 2021



…> On Behalf Of Stathis Papaioannou via extropy-chat
Subject: Re: [ExI] dang, forgot




On Fri, 15 Jan 2021 at 07:28, spike jones via extropy-chat <extropy-chat at lists.extropy.org <mailto:extropy-chat at lists.extropy.org> > wrote:


>>…Alternative: a prole with a few thousand bitcoins could go on the news and tell everyone that he forgot his password, quarter of a billion BC presumably lost, price goes up, he sells short, miraculously remembers his password, sells his BCs, covers his short, makes a buttload.



>…It wouldn't work because there is a total supply of about 18 million bitcoins (with an ultimate maximum of 21 million) and no-one controls more than about 1 million, which are in the wallet of their creator, Satoshi Nakamoto. Losing a few thousand wouldn't make much difference to the price. However, if the coins started to move from the Satoshi Nakamoto wallet, that might crash the price, because there would be a fear that these coins, which have never moved since their creation, might flood the market.


Stathis Papaioannou



Owww, dang, I can’t corner the market on BC this week.


What do you figure is up with Satoshi?  Never turned loose of any of his BC?  Why not?  Independently wealthy?  Perhaps his disc crashed and he wouldn’t tell anyone?



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