AskLeo - What if Satoshi Suddenly "Moves"?

in #askleo6 months ago

There's a lot of exposure currently for Bitcoin, that coming from the Bitcoin conference in Miami, Russia, Ukraine and Strike app of Jack Mallers, who has signed a partnerships with Shopify, Walmart and a bunch of other merchants to accept Bitcoin payments through lightning network.

BTC is no longer what it was five years ago. Whoever looks at it from the perspective of a getting rich quick scheme is completely losing the point. Not many are seeing it as a payment currency either...

Satoshi Nakamoto, however, has envisioned it as such, but he has probably not envisioned the whole blockchain development that's taking place currently and the fact that most of the Bitcoin users will become hodlers not spenders. He/them, as we don't know exactly what Satoshi is, own 1 million BTC.

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That's over 40 billion dollars at the current market price. If Satoshi would suddenly "awake" and exchange all of that for cash he'd be one of the top 10 richest individuals in the world.

Chances are that if such event would occur the price would start tanking as hell as soon as any blockchain bot would signal that his address is becoming active. I guess that's a pitfall of decentralized transparent blockchain technology. I'm not expecting any other reaction to such an event.

I don't know about you, but I don't consider myself a panicked individual. Hence I wouldn't care at all if funds from the Satoshi wallet have suddenly started to move. I would actually love for that to happen, because I believe in the usability and flexibility of bitcoin.

Most of the dumb money would sell, though, because that's what the dumb money does, doing stupid shit... How would you react to a Satoshi wallets sudden activation?

Thanks for attention,
Adrian

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Difficult to tell the reaction, mostly because every other thing would tank along side, we'd see the stablecoin market moving up and others drop down. It would be crazy and cause a lot of worries, because currently, many just wish that those coins are dead coins, but if that suddenly changes, then it would be in the hands of developments if the space would survive the panic selling...

Look, I’m starting to think that if Satoshi releases some of his bags it won’t be a damage but more chances for us to get cheaper Bitcoin, despite the lowering of the prices

I would like that to happen. I know I may not like that and won't invest but let's bring it back to 10K range for once :P

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Great perspective

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Well, the code itself won't change but that would really hurt the trust of some of the crypto maxis. I think it would definitely cause a short to a midterm price crash.

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