From the list of addresses, there is a large 18-day gap between 9/20/2010 and 10/8/2010. Could be his miners are off for some time, or the coins mined during this period are not for sale.
He mined one block (50BTC reward each), at an average of 5.4 days.
I miss the days I could just mine a few bitcoins on a shitty gpu with a few old pcs that could of only ran cs 1.6. Then realizing my hard drives are in the garage for 5 years after a move and realizing I had walletās I completely ignored but the services stayed active. Lifeās funny. Sometimes you forget what you had going until you find it in a box and realize holy shit thereās a lot of coin. Back before alt coins, you just sat and did nothing and got paid, now is the same but thereās tasks involved in order to gain.
lol I remember my buddies playing games of pool for it and paying each other back for Pizzas with bitcoins when they were in the $5-10 range. Theyāre all kicking themselves(or buying back in haha). The majority sold what they had left when it went into the 100ās
Could be my friends wife. He died in 2015 with thousands of btc he mined from the beginning. I really hope she hodled after he passed. He always told me to buy at the start and I always wished I listened to him.
Tweet link: [https://x.com/olvelez007/status/1765096302885409233](https://x.com/olvelez007/status/1765096302885409233)
Mempool: https://mempool.space/tx/9f69e4b5f7d9330135178f2c6c1c9fbf18dd0803bad346dbe20cd7f451ed4355
Hats off to the dude for holding since 2010. Probably didn't even sell his whole stack.
Dumb question maybe... How does one hold, sell and withdraw such amount?
Do you go, Hardwallet, coldwallet, exchange, withdraw? Is that even possible for such amounts?
1. I totaly understand that. What I mean is, can I, as an individual, just aquire 60milion worth of bitcoin with a "standard" account type?
2. What would be the path most would take with this amount? I know its different for everyone but does it make sense to store it in a hardwallet, then move it the exchange, convert it to FIAT and withdraw?
3. Would this be "easy" to do ? The same as a 100$ transaction?
You wouldn't surprise an exchange with this. You would have an account opened, verified, linked to a bank account, done test deposits, sales, withdraws. Then you would call them up and be look I am going to make a $60M deposit is that going to be a problem. Here is all the source of fund data you are going to ask up front.
My guess is someone would use coinbase otc not the public market.
Everyone on the coinbase reddit seems to say you can't actually reach a person though in customer service..maybe an email about yo about to drop 69 mil is that cool?
My dude, they have an otc desk for items exactly like this. Where you have a contact in their client team. Issue is you can't get over your confirmation bias due to you not having the wealth this person has to make things like this happen.
The seller acquired his fortune by solo mining back when the block reward was 50 BTC.
Nowadays you could only purchase that amount at once using an OTC desk. You can call up swan, coinbase, kraken, etc and they would take care of you.
If rich people are just ordinary folks, how do they seem to all know about buying otc? Bitcoin is still new and I'd assume most people would just use coinbase.
It's how rich people buy/sell significant amounts of anything - through a trusted intermediary. You think people just casually ACH $69m into their Fidelity account and do market buys?
What he's asking is, this guy who mined btc back then was basically an average tech savvy Joe. But ATSJs, like the person asking, don't automatically know how/whether to do things like buy OTC on exchanges. That is financial knowledge, not average techie knowledge. So he is asking, how do all these rich people seem to just automatically know this, if they weren't born into the wealth and raised on how to use it, but are bitcoin nouveau riche?
The easy answer is just like they googled it or whatever, but I understand what he's getting at.
There are several OTC desks that you can search, then contact, and they will help you make the transaction. Then they'll wire you the $69m to your bank account. At that point please phone your bank first and give them a heads up - it saves them calling you.
You hold the private keys electronically. There were no hardware wallets, mnemonic seeds or even hierarchical deterministic key generation back then. The large inputs to the transaction were of the ancient P2PK type and I honestly have no idea which wallets even support spending those. Maybe Bitcoin Core?
In any case, the person was a miner back then. He/she must have held the private keys to the coinbase addresses of the blocks he/she mined (20 were spent here) for over 13 years and figured out how to spend them now.
As to the selling, they just sent to an exchange like anyone would do.
Same reason they do OTC block trades for basically every financial instrument. Open market trades get scalped by high frequency traders. And there is price fluctuation. A 1% swing in price is $690,000, better to just agree to a price on OTC then risk the open market swing and potentially cause a sell off while your trying to get your trade filled. Nothing to do with anonymity. Buyers do it for the same reason. If Iām looking to buy $100,000,000 btc, this is much more appealing than being scalped and driving up the spot price as my order fills.
exactly he doesnt have to give two shits anymore about bitcoin news or really any other news as long he doesn't spend these millions like an idiot he and his family are forever set for life and generations to come.
At this point I would be more worried about fiat news than about Bitcoin news to be honest, lol. There are so many things in fiat world that can make you lose your fortune...
- Governments going haywire and confiscating savings.
- Hyperinflation.
- CBDCs being introduced and your funds getting converted to this cuck coin.
- Banks going under.
While most Bitcoin news is recognized and debunked FUD.
Yea inflation but banks going under? Maybe a smaller local bank, big banks will be bailed out. I mean could just as easily be hacked and lose all bitcoin with no insurance to show for it. Could be killed in accident and if someone didn't know how to access there crypto or keys all gone with no recourse. We can debate reasons all day but none of it matters unless one of the reasons actually happens.
Leaving it all as dollars in your bank acc would be beyond stupid.
You can buy alot of assets and life of the revenue for ever, no mather what the dollar does
None of those assets perform as well as Bitcoin and often barely (if even) outrun inflation. Aside from that your brokerage account can be confiscated as it is just like a bank account.
None of the other assets perform as well as Bitcoin and often barely (if even) outrun inflation. Aside from that your brokerage account can be confiscated as it is just like a bank account.
Concentration creates wealth, diversification protects it... No one knows the future and for all we know bitcoin may be supplanted by a more advanced crypto and bitcoin will end up the blackberry of cryptos... Or it can continue to become the "gold standard" and in 5yrs we'll be measuring things in satoshis because BTCs will be worth $1 million plus.
But to believe Bitcoin is and always will be a better performer than ANY other asset class is just naive.
Oh FFS looking at past returns isn't the only logically sound reason to base investment decisions off of. The chance of having your brokerage accounts seized, or even your bank accounts, is close to nothing, at least in a first world country. Maybe don't be a criminal if that's something you partake in.
Bitcoin is great, the government is shit, but some of you act like ANYTHING other than bitcoin is unholy, or not worth touching.
There is more to life than just feeding your bottom and surrounding yourself with comfort. Often people who retire become sick or depressed, you have to keep moving and keep being motivated, and get up early in the morning, if you want to remain fine. People start having serious hobbies, or return back to a job, albeit they prefer easier jobs. What Iām saying is contrary to what people think retirement isnāt a finish line, after which you chill, unfortunately that results into quick degeneration of your physical and mental health. Thatās one
Two, some people have enough money, and sincerely have bitcoin as a goal, an aim a full time hobbie. Itās not always about dreaming of being rich, and escaping with your profits
Fair. I agree with you, retirement is the next stage of life, which should mostly involve care for your body and your mind, with time spent on passions, hobbies, side quests, family, friends, community, etc). If I had 1000 Bitcoin right now I wouldnāt sell all of them, but I would retire and be fine with $10 million USD and 800 Bitcoin that was secured in a family trust somehow. That would allow me to focus on health and real life. I wouldnāt be obsessed with Bitcoin the way I am if I were this theoretical person. To each their own shrug.
Yeah, with this kind of assets, there are no taxes to be paid. You essentially pick your jurisdiction to do this in. A couple of 100k for an army of attorneys and accountants and you can do whatever you want.
34% in Finland...
But if he held them for 10 years, 40% of it would be considered as acquisition cost so he'd pay 34% tax of that 60% profit which is just 20.4%.
Or maybe itās the fact we have been in a unhealthy market structure for a while now and we absolutely need this pull back to go higher. After a few cycles when you see a pump like
This you know thereās a dump coming. Itās done this before.
This. I've been thru this shit a few times now over the past years and I do not give one single fuck anymore: I put 50/50 of my monthly leftover-cash into stocks and btc and slowly shake my head whenever I see posts of new players spending their days following each pump and dump on a 1min chart trying to explain it.
In a few years many will realize: Everything will be fine, just relax and keep buying.
Most get in because of fomo. So they buy high and then watch themselves lose when they sell low and forever after freak out about the highs and lows despite the obvious long term being it goes up
True, but if you look at what happened with the output of this transaction (address 36i1W22jLn2KK1GJcJirEiQHn4cQHv76JR), I think it's safe to say that the coins ended up on an exchange.
Probably had a sell order he forgot aboutā¦Dāoh! Either way, thatās the longest brass balled hold of the mother fucken centuryā¦literally zero to USD$60 odd millionā¦
Everybody praises how this guy hodled for so long. And this guy was just looking for his lost USB stick. Now when he was moving from the old house, he finally found it. Lucky bastard.
I think the problem is not that satoshi is selling the bitcoins, but that he is still there and has access to soo many bitcoins and that he is putting his hidden identity at risk.
One of the people who made up Satoshi is dead. I would imagine Satoshi had coins outside of their publicly known wallets that they could sell anytime without crippling the BTC economy. Isnāt it common opinion that if known Satoshi coins are sold that the price would suffer significantly out of fear?
1000 BTC really isn't that much (in terms of moving the market) these days considering the amounts flowing into ETFS, or out of GBTC, or into Microstrategy, etc. on a regular basis.
Yes. At those block times, BTC had existed for only a few months. Only so many people knew about BTC, let alone mined it. So it could have been him. Or his heirs.
Bitcoinās market cap is 1.2 trillion dollars. $60 million is a drop in the bucket and would have almost zero impact on price. Whales used to have a much larger say on price swings. Now, not so much. Thatās not to say $60M isnāt a lot of money for one person.
grayscale has been dumping 10x this amount daily on the entire run up. youve got a lot to learn if you think one dude selling 60m is doing anything lol.
100% agree tha distributing BTC more widely is good for the longterm health of the crypto ecosystem. The HODL mentality contributes to boom/bust cycle. Best case scenario is slow/steady growth to the eventual position as one of the world's reserve currencies, but this cannot happen if ownership of BTC is more centralized than fiat.
I think it would be safe to say that he/she didnāt sell all of their BTC after all of those years.. this is probably just a portion and theyāre hodling the rest.
It's clearly not *just* because that guy sold 1,000 BTC, but it is indicative we may have a number of whales who were waiting for ATHs to begin offloading BTC they've held onto for a long time.
Lol that's not moving anything but I suspect there will be people that aren't hodling and just speculating or traders taking profits at all time highs. And this will always happen expect 30 and 40% drops multiple times through this and next year will the way up. Same every time..
What I want to know is, with this kind of wealth who does one sell to without dealing with a Coinbase crash, freezing of accounts, lack of liquidity, and etc? Seeing how exchanges like Coinbase implode during trading volumes, how can you ensure you see every dollar of your bitcoin?
What correction? I've only seen huge green monthly candles for the most part of this past year. Zoom-out, ignore the short-term noise, stay humble and keep stacking.
One pleb selling 0.0003 of BTC, no, but someone of size? Yes.
We clearly have some sell walls to chew through. Some people with a stack of coins probably had sell orders once BTC hit ATHs.
A miner from 2010 shot themselves in the foot by selling to a public exchange (Coinbase) instead of private placement. Dumping on retail triggers bigger sell off.
Look at those 50 coin solo mining blocks. š
From the list of addresses, there is a large 18-day gap between 9/20/2010 and 10/8/2010. Could be his miners are off for some time, or the coins mined during this period are not for sale. He mined one block (50BTC reward each), at an average of 5.4 days.
I miss the days I could just mine a few bitcoins on a shitty gpu with a few old pcs that could of only ran cs 1.6. Then realizing my hard drives are in the garage for 5 years after a move and realizing I had walletās I completely ignored but the services stayed active. Lifeās funny. Sometimes you forget what you had going until you find it in a box and realize holy shit thereās a lot of coin. Back before alt coins, you just sat and did nothing and got paid, now is the same but thereās tasks involved in order to gain.
>now is the same but thereās tasks involved in order to gain. Iām not sure what you mean by this. Do you mind explaining?
In the old days there was almost no effort or expense to mining?
Crazy how much money he was making every 5.4 days in hindsight. He was a multimillionaire before he ever knew it in just one year of mining.
He probably has 50k moreā¦he was with the functions back then
Just needed $69,000,000 walking around money.
Gas money for a night out with the boys
Dirty mike and the boys.
America!!
Should be enough for 1 Wagyu Steak at a NYC eatery yeah?
Barely with current inflation š¤£
He will spend it all that on coke and strippers tonight and then do it all over again tomorrow night
Thatās not fair at all. He will also drink a lot of 1942
Gotta keep a pocket of do a damn thing thing of money
GATOR DONT PLAY THAT SHIT
GATOR NEVER BEEN ABOUT THAT
Gators bitches better use jimmies
What's the functions?
He was with the bizā¦he was with what was happening at the timeā¦going thru the functions
I remember buying it at $8 a coin and thinking that it was always going to be only worth $8 a coin. I can't believe how naive I wasš¤¦
lol I remember my buddies playing games of pool for it and paying each other back for Pizzas with bitcoins when they were in the $5-10 range. Theyāre all kicking themselves(or buying back in haha). The majority sold what they had left when it went into the 100ās
The power of holding
Even who this post is about will be kicking themselves in 5 years.
I remember looking into it when it was $20 a coin and thinking it was way overpriced.
Could be my friends wife. He died in 2015 with thousands of btc he mined from the beginning. I really hope she hodled after he passed. He always told me to buy at the start and I always wished I listened to him.
Tweet link: [https://x.com/olvelez007/status/1765096302885409233](https://x.com/olvelez007/status/1765096302885409233) Mempool: https://mempool.space/tx/9f69e4b5f7d9330135178f2c6c1c9fbf18dd0803bad346dbe20cd7f451ed4355 Hats off to the dude for holding since 2010. Probably didn't even sell his whole stack.
Conservative 69,000,000 I would to and retire
Dumb question maybe... How does one hold, sell and withdraw such amount? Do you go, Hardwallet, coldwallet, exchange, withdraw? Is that even possible for such amounts?
Thereās enough liquidity on an exchange. 24 hr volume on Coinbase is 3 billion right now
1. I totaly understand that. What I mean is, can I, as an individual, just aquire 60milion worth of bitcoin with a "standard" account type? 2. What would be the path most would take with this amount? I know its different for everyone but does it make sense to store it in a hardwallet, then move it the exchange, convert it to FIAT and withdraw? 3. Would this be "easy" to do ? The same as a 100$ transaction?
You wouldn't surprise an exchange with this. You would have an account opened, verified, linked to a bank account, done test deposits, sales, withdraws. Then you would call them up and be look I am going to make a $60M deposit is that going to be a problem. Here is all the source of fund data you are going to ask up front. My guess is someone would use coinbase otc not the public market.
Everyone on the coinbase reddit seems to say you can't actually reach a person though in customer service..maybe an email about yo about to drop 69 mil is that cool?
My exchange has personal account managers available 7 days a week for anyone doing high volume. Minimum transaction is $50K.
If you want to clear 69 mil they are gonna make a lot of money even if they get 0.1% fee. They will pick up the phone for that
My dude, they have an otc desk for items exactly like this. Where you have a contact in their client team. Issue is you can't get over your confirmation bias due to you not having the wealth this person has to make things like this happen.
The seller acquired his fortune by solo mining back when the block reward was 50 BTC. Nowadays you could only purchase that amount at once using an OTC desk. You can call up swan, coinbase, kraken, etc and they would take care of you.
If rich people are just ordinary folks, how do they seem to all know about buying otc? Bitcoin is still new and I'd assume most people would just use coinbase.
It's how rich people buy/sell significant amounts of anything - through a trusted intermediary. You think people just casually ACH $69m into their Fidelity account and do market buys?
What he's asking is, this guy who mined btc back then was basically an average tech savvy Joe. But ATSJs, like the person asking, don't automatically know how/whether to do things like buy OTC on exchanges. That is financial knowledge, not average techie knowledge. So he is asking, how do all these rich people seem to just automatically know this, if they weren't born into the wealth and raised on how to use it, but are bitcoin nouveau riche? The easy answer is just like they googled it or whatever, but I understand what he's getting at.
Yes. CB will for sure make sure you are KYC'd, but if you are you can just withdraw it to your account.
There are several OTC desks that you can search, then contact, and they will help you make the transaction. Then they'll wire you the $69m to your bank account. At that point please phone your bank first and give them a heads up - it saves them calling you.
Can't believe I had to scroll this far to find this, lol
Iām curious about this as well.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
The guy burned 547 sats several times to write a story it seems
I read "We need 88 BTC for armed attack" WTF is this. I want to know more.
Howād you find this? The same 2 messages were done countless times between Oct 2022 and earlier than May 2021
You hold the private keys electronically. There were no hardware wallets, mnemonic seeds or even hierarchical deterministic key generation back then. The large inputs to the transaction were of the ancient P2PK type and I honestly have no idea which wallets even support spending those. Maybe Bitcoin Core? In any case, the person was a miner back then. He/she must have held the private keys to the coinbase addresses of the blocks he/she mined (20 were spent here) for over 13 years and figured out how to spend them now. As to the selling, they just sent to an exchange like anyone would do.
This is not a dumb question. No one here has a clue. They said "coinbase" and everyone voted it up. That's the info quality you're getting here.
Why wouldn't they trade OTC? Anonymity?
Same reason they do OTC block trades for basically every financial instrument. Open market trades get scalped by high frequency traders. And there is price fluctuation. A 1% swing in price is $690,000, better to just agree to a price on OTC then risk the open market swing and potentially cause a sell off while your trying to get your trade filled. Nothing to do with anonymity. Buyers do it for the same reason. If Iām looking to buy $100,000,000 btc, this is much more appealing than being scalped and driving up the spot price as my order fills.
Well we have answered the eternal question... *"When Lambo?"* ... for that OG dude. ... "**Now Lambo ... Now ... Lambo**."
Now Lambo
Wow Lambo
Wambo
No Lambo for all you other guys
Thatās ~138 lambos you could buy. Let me know when this nerd has one for everyday of the year.
I'd be totally happy with 10 š
Bro bought a mf jet
Now Lambosssssssss
He is probably skipping the lambo step and going straight to bugattis on 69m
I would sell too. $69 million is enough to retire with 10 times over
exactly he doesnt have to give two shits anymore about bitcoin news or really any other news as long he doesn't spend these millions like an idiot he and his family are forever set for life and generations to come.
At this point I would be more worried about fiat news than about Bitcoin news to be honest, lol. There are so many things in fiat world that can make you lose your fortune... - Governments going haywire and confiscating savings. - Hyperinflation. - CBDCs being introduced and your funds getting converted to this cuck coin. - Banks going under. While most Bitcoin news is recognized and debunked FUD.
Nah he aināt worried about fiat either
Yea inflation but banks going under? Maybe a smaller local bank, big banks will be bailed out. I mean could just as easily be hacked and lose all bitcoin with no insurance to show for it. Could be killed in accident and if someone didn't know how to access there crypto or keys all gone with no recourse. We can debate reasons all day but none of it matters unless one of the reasons actually happens.
Unless the dollar undergoes hyperinflation , like a few modern countries have in the last 50 years
Leaving it all as dollars in your bank acc would be beyond stupid. You can buy alot of assets and life of the revenue for ever, no mather what the dollar does
He should buy more bitcoin.
This is the correct answer
None of those assets perform as well as Bitcoin and often barely (if even) outrun inflation. Aside from that your brokerage account can be confiscated as it is just like a bank account.
You don't keep it in a savings account.
None of the other assets perform as well as Bitcoin and often barely (if even) outrun inflation. Aside from that your brokerage account can be confiscated as it is just like a bank account.
Concentration creates wealth, diversification protects it... No one knows the future and for all we know bitcoin may be supplanted by a more advanced crypto and bitcoin will end up the blackberry of cryptos... Or it can continue to become the "gold standard" and in 5yrs we'll be measuring things in satoshis because BTCs will be worth $1 million plus. But to believe Bitcoin is and always will be a better performer than ANY other asset class is just naive.
Oh FFS looking at past returns isn't the only logically sound reason to base investment decisions off of. The chance of having your brokerage accounts seized, or even your bank accounts, is close to nothing, at least in a first world country. Maybe don't be a criminal if that's something you partake in. Bitcoin is great, the government is shit, but some of you act like ANYTHING other than bitcoin is unholy, or not worth touching.
There is more to life than just feeding your bottom and surrounding yourself with comfort. Often people who retire become sick or depressed, you have to keep moving and keep being motivated, and get up early in the morning, if you want to remain fine. People start having serious hobbies, or return back to a job, albeit they prefer easier jobs. What Iām saying is contrary to what people think retirement isnāt a finish line, after which you chill, unfortunately that results into quick degeneration of your physical and mental health. Thatās one Two, some people have enough money, and sincerely have bitcoin as a goal, an aim a full time hobbie. Itās not always about dreaming of being rich, and escaping with your profits
Why are you being downvoted
Cause people generally donāt like to hear truth that goes against firmly held beliefs.
Thanks for this, I appreciate your input.
Fair. I agree with you, retirement is the next stage of life, which should mostly involve care for your body and your mind, with time spent on passions, hobbies, side quests, family, friends, community, etc). If I had 1000 Bitcoin right now I wouldnāt sell all of them, but I would retire and be fine with $10 million USD and 800 Bitcoin that was secured in a family trust somehow. That would allow me to focus on health and real life. I wouldnāt be obsessed with Bitcoin the way I am if I were this theoretical person. To each their own shrug.
1000! Wow so he is worth 68,000,000 dollars
Depends on the tax burden but yea. Plus likely has far more btc stashed
0% in germany after holding for 1year+
what thatās amazing
6 months in Luxembourg
Yeah, with this kind of assets, there are no taxes to be paid. You essentially pick your jurisdiction to do this in. A couple of 100k for an army of attorneys and accountants and you can do whatever you want.
I don't think he's too worried about only having 35 MILLION left over, even in the worst case tax scenario
15% in capital gains, but still ..
Not in every countryā¦
Just start ur own country!
Zero capital gains tax here in Hong Kong. Itās been a good week
In the US it'd be 20% for that large of a capital gains, not including any state taxes.
26% in Italy...
34% in Finland... But if he held them for 10 years, 40% of it would be considered as acquisition cost so he'd pay 34% tax of that 60% profit which is just 20.4%.
State taxes too depending on the state
Probably just found his keys again lol
DOJ selling our MtGox coins
Or maybe itās the fact we have been in a unhealthy market structure for a while now and we absolutely need this pull back to go higher. After a few cycles when you see a pump like This you know thereās a dump coming. Itās done this before.
This. I've been thru this shit a few times now over the past years and I do not give one single fuck anymore: I put 50/50 of my monthly leftover-cash into stocks and btc and slowly shake my head whenever I see posts of new players spending their days following each pump and dump on a 1min chart trying to explain it. In a few years many will realize: Everything will be fine, just relax and keep buying.
Most get in because of fomo. So they buy high and then watch themselves lose when they sell low and forever after freak out about the highs and lows despite the obvious long term being it goes up
August 2010, Bitcoin was .06. Just absolutely insane.
thats a hell of a hodl
damn, was this dude in prison? š¤£
Yes, repeating to himself every character of his private keys, every second of every day that he spent there.
Characters because there was no BIP-39. That stuff is ancient.
All I see is an OG consolidating his stack. BTC changing address is not the same as it being sold.
True, but if you look at what happened with the output of this transaction (address 36i1W22jLn2KK1GJcJirEiQHn4cQHv76JR), I think it's safe to say that the coins ended up on an exchange.
I see arkhamintelligence has the wallets marked as coinbase the funds later start interacting with.
Holy shit, dude's a legend
It was fun back then
Probably a lad that wanted to buy molly 15 years ago. GGās
Now he can buy a cartel... Well, invest in one maybe.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
It's "only" $69 million. Daily volume of trading is in the tens of billions. So that's somewhere in the order or 0.1% of daily volume.
Probably had a sell order he forgot aboutā¦Dāoh! Either way, thatās the longest brass balled hold of the mother fucken centuryā¦literally zero to USD$60 odd millionā¦
Everybody praises how this guy hodled for so long. And this guy was just looking for his lost USB stick. Now when he was moving from the old house, he finally found it. Lucky bastard.
Satashi finally selling, it's over guys
Honestly, if Satoshi decided to sell 1k BTC I would be happy for him. He deserves it.
I think the problem is not that satoshi is selling the bitcoins, but that he is still there and has access to soo many bitcoins and that he is putting his hidden identity at risk.
Lets be honest satoshi probably got whacked by the gov or just got hit by a bus crossing the street lol. Mans would have sold by now
One of the people who made up Satoshi is dead. I would imagine Satoshi had coins outside of their publicly known wallets that they could sell anytime without crippling the BTC economy. Isnāt it common opinion that if known Satoshi coins are sold that the price would suffer significantly out of fear?
Not sure why. It's not like he controls the network.
Satashi can just increase the supply so why not? Edit: /s making fun of Jamie Dimon, chill people š
[ŃŠ“Š°Š»ŠµŠ½Š¾]
his hand is forced
I knew Satashi was going to dump on us, Jamie Dimon was right. š¢
How do you even sell this much? What custodian would you trust during the sell?
This is a good thing. Dispersal of value to humanity
1000 BTC really isn't that much (in terms of moving the market) these days considering the amounts flowing into ETFS, or out of GBTC, or into Microstrategy, etc. on a regular basis.
More staying power than me, I probably would have sold when bitcoin hit the big times of $100 in 2013!
Imagine having $400 dollars worth of Bitcoin in 2010... and cashing out 14 years later for 69 million... MAN
Could this have been Satoshi?
Yes. At those block times, BTC had existed for only a few months. Only so many people knew about BTC, let alone mined it. So it could have been him. Or his heirs.
A few months? The bitcoin blockchain came online Jan 3, 2009. These dates are approaching almost two years later.
Yes, around 21 months afterward. Still not many users and even fewer miners at that time.
Bitcoinās market cap is 1.2 trillion dollars. $60 million is a drop in the bucket and would have almost zero impact on price. Whales used to have a much larger say on price swings. Now, not so much. Thatās not to say $60M isnāt a lot of money for one person.
There is so much more at play when a huge $60m is liquidated more or less all at once.
Definitely sold it to an ETF. Who else can broker that much cash?
Any major exchange can deal with that no problem
How much remains in that wallet?
Itās gonna take more than that one sell to move the market like this. Just sit back, stack sats and watch the show.
Yeah, but a sale like that can trigger other sales to get that rapid dip.
Exactly. It's also why the title for this post says "may" and "partially."
grayscale has been dumping 10x this amount daily on the entire run up. youve got a lot to learn if you think one dude selling 60m is doing anything lol.
100% agree tha distributing BTC more widely is good for the longterm health of the crypto ecosystem. The HODL mentality contributes to boom/bust cycle. Best case scenario is slow/steady growth to the eventual position as one of the world's reserve currencies, but this cannot happen if ownership of BTC is more centralized than fiat.
Smart honestly.
*Satoshiās side wallet*
I think it would be safe to say that he/she didnāt sell all of their BTC after all of those years.. this is probably just a portion and theyāre hodling the rest.
Price went down because some people took profit. More news 8
So wait guy sells few hundred bitcoin and price drops 15%? We are ducked
It's clearly not *just* because that guy sold 1,000 BTC, but it is indicative we may have a number of whales who were waiting for ATHs to begin offloading BTC they've held onto for a long time.
I never get good cracker jack prizes like this
My brain autocorrected to bitstoner...
Probably retired
"Decentralizing the btc", more like giving it to the ETF' AP Coinbase.
Itās a good thing that they didnāt spend this on a pizza back in the day
Looks like OG finally got out for good behaviour!
How did he cash out beside selling to someone in person? I can se on Kraken that you have monthly withdraw limit...
The dream.... before we even knew what the dream was!
Man . Iām just thinking what I would do with that money if I had it . Imagine someone accidentally sent 1000 BTC to your wallet
Lol that's not moving anything but I suspect there will be people that aren't hodling and just speculating or traders taking profits at all time highs. And this will always happen expect 30 and 40% drops multiple times through this and next year will the way up. Same every time..
become a multi millionaire today, or a dynasty in the future
What I want to know is, with this kind of wealth who does one sell to without dealing with a Coinbase crash, freezing of accounts, lack of liquidity, and etc? Seeing how exchanges like Coinbase implode during trading volumes, how can you ensure you see every dollar of your bitcoin?
What correction? I've only seen huge green monthly candles for the most part of this past year. Zoom-out, ignore the short-term noise, stay humble and keep stacking.
How do you sell 1000 BTC? Does he have to transfer it to some exchange?
Imagine how stale those bitcoin are, feel sorry for the schmucks who buy them. I only buy bitcoin mined within the last 30 days.
1 retail participant can make bitcoin correct. Did you spell this out and checked if this make sense before posting.
He's not retail. He's a š
One pleb selling 0.0003 of BTC, no, but someone of size? Yes. We clearly have some sell walls to chew through. Some people with a stack of coins probably had sell orders once BTC hit ATHs.
Bruh, 1k bitcoin is nothing in terms of the liquidity of this market. I promise it didnt move shit
Iām curious why didnāt he sell last cycle ? Does he think this is the final top ?
SATOSHIIIIII
Why would they sell when itās supposedly supposed to rocket next month
Because he has another 40,000 BTC sitting in cold storage? š¤·āāļø
Grayscale has been dumping also, because of their high fees
I saw that pause today, watched everything just...stop.
A miner from 2010 shot themselves in the foot by selling to a public exchange (Coinbase) instead of private placement. Dumping on retail triggers bigger sell off.
probably the same guy that made the 300$ sell wall
Hecmust be shore that VmBTC reached ATH for a ling time
Chris is that u?
If that mf can warn me next time, thatāll be great
That may have been the spark. In, addition the order books were very thin on the buy side and funding rates were heavily incentivising short scalps.
Lots of selling orders at 69k, that is to be expected and that's why we've seen a drop.
Lmfao
Just quit his job
Congrats on living my dreams