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Satoshi's Unmoved Coins

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Omnibus

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I had a thought the other day that maybe some of the unspent coins mined by Satoshi were originally stored as a safety net just in case the mining power started to slump from lack of interest. Of course this is not relevant today but perhaps he stored them with the intent of broadcasting a small transaction with a very large miner fee. For example, spending 0.001 BTC with a 50 BTC fee for the miners. This would be a type of stimulus just in case Bitcoin needed a boost in the early days. The real question now, however, is what those coins will be used for or if they will ever be used for anything.

Posted on August 11, 2014 at 6:18 PM

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• HODL

  

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  Was there ever a slump in the mining power of the network that would be a cause for concern early on? Was it really ever in jeopardy of dying out from lack of interest?

  Posted on August 11, 2014 at 6:21 PM
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• Akinale

  

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  @omnibus I had a thought the other day that maybe some of the unspent coins mined by Satoshi were originally stored as a safety net just in case the mining power started to slump from lack of interest. Of course this is not relevant today but perhaps he stored them with the intent of broadcasting a small transaction with a very large miner fee. For example, spending 0.001 BTC with a 50 BTC fee for the miners. This would be a type of stimulus just in case Bitcoin needed a boost in the early days. The real question now, however, is what those coins will be used for or if they will ever be used for anything.

  all the time, they are not so popular

  Posted on August 11, 2014 at 6:24 PM
  Last Edited: August 11, 2014 at 6:25 PM
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• Rob

  

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  Interesting idea. Feels like one could come up with a lot of possible explanations, both planned and unplanned, to explain unmoved coins.

  Posted on August 11, 2014 at 6:26 PM
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• Apple

  

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  Alright, who's got a high power microscope to see if there were any dips in computation power in the early days of mining

  

  Posted on August 11, 2014 at 6:27 PM
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• Omnibus

  

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  @akinale

  @omnibus I had a thought the other day that maybe some of the unspent coins mined by Satoshi were originally stored as a safety net just in case the mining power started to slump from lack of interest. Of course this is not relevant today but perhaps he stored them with the intent of broadcasting a small transaction with a very large miner fee. For example, spending 0.001 BTC with a 50 BTC fee for the miners. This would be a type of stimulus just in case Bitcoin needed a boost in the early days. The real question now, however, is what those coins will be used for or if they will ever be used for anything.

  all the time, they are not so popular

  But was it ever to the point where miners were leaving faster than they were joining because of lack of incentives?

  Posted on August 11, 2014 at 6:33 PM
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• redmonds84

  

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  Who is satoshi ?

  Posted on August 11, 2014 at 7:16 PM
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• Omnibus

  

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  @redmonds84 Who is satoshi ?

  

  Posted on August 11, 2014 at 7:31 PM
  Last Edited: August 11, 2014 at 7:32 PM
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• sammir

  

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  amazing, btw its not too much hot 50 btc, look the fbi account (ex silkroad) if you wanna start to delirious, not think satoshi will never appear to be realistic.

  Posted on August 11, 2014 at 7:43 PM
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• montello

  

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  @omnibus I had a thought the other day that maybe some of the unspent coins mined by Satoshi were originally stored as a safety net just in case the mining power started to slump from lack of interest. Of course this is not relevant today but perhaps he stored them with the intent of broadcasting a small transaction with a very large miner fee. For example, spending 0.001 BTC with a 50 BTC fee for the miners. This would be a type of stimulus just in case Bitcoin needed a boost in the early days. The real question now, however, is what those coins will be used for or if they will ever be used for anything.

  I don't think they will ever be of used based on the look of the developing trends.

  Posted on August 13, 2014 at 6:36 AM
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• wassup

  

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  Probably those coins won't be used at all, and by the way 50 btc won't change anything :)

  Posted on August 14, 2014 at 12:12 AM
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