Why bitcoin could crash heavily beyond recovery

[.*my*.]

Have you ever heard of Satoshi Nakomoto? He is the founder of bitcoin and supposedly owns 1 million~ bitcoins (equivalent to dozens of billions of dollars, but we can never know how much he owns).

No one really knows who he is and if he’s still alive, but I saw this video today of the man who claims that he had nothing to do with bitcoin, yet he looks guilty as hell and no one in the comments is buying that he is not the guy.



If he or his children sell his bitcoins (under duress or other reasons) and that becomes known, that would crash bitcoin and it will never recover.

Will bitcoin go down to zero? Probably not because people will still trade, but new buyers will not buy bitcoin.

 

[.*my*.]

@Artemis what do you think? Guilty or not?

 

[.*my*.]

@Dr. Bruh
@ICANNOTBECONTAINED

 

[.*my*.]

B

 

[hiwasuwor]

do you think if he sells the price will go down because people wont trust btc anymore if the inventor of it sells it?

 

[Gandy]

do you think if he sells the price will go down because people wont trust btc anymore if the inventor of it sells it?

It's thought that the name is a pseudonym, not an actual persons name.

But even if the man in the video owns all those coins, he has held onto them forever.
The origin wallet which holds 1 million bitcoins has seen no movement whatsoever in 13+ years.

If he were to sell, he is likely smart enough to do it in small increments so the market doesn't crash.

A million BTC only makes him the third richest person on the planet *on paper*. In reality he can't sell off much more than 0,1% of his coins in a short period of time without swinging the market price dramatically downwards.

IMO, the person who created the initial source code either no longer has access to that wallet (maybe the HDD or flash drive died) or he is dead in real life. If they were alive or had access to that wallet they would rather live as a billionaire and sold during the huge price spikes in 2017+, instead of a run of the mill researcher/programmer?

 

[.*my*.]

do you think if he sells the price will go down because people wont trust btc anymore if the inventor of it sells it?

Yes that’s one reason. The other reason is the massive dump of more btc if he sells, which I think the market will recover from quicker than the destroyed reputation if he sells.

 

[.*my*.]

It's thought that the name is a pseudonym, not an actual persons name.

But even if the man in the video owns all those coins, he has held onto them forever.
The origin wallet which holds 1 million bitcoins has seen no movement whatsoever in 13+ years.

If he were to sell, he is likely smart enough to do it in small increments so the market doesn't crash.

A million BTC only makes him the third richest person on the planet *on paper*. In reality he can't sell off much more than 0,1% of his coins in a short period of time without swinging the market price dramatically downwards.

IMO, the person who created the initial source code either no longer has access to that wallet (maybe the HDD or flash drive died) or he is dead in real life. If they were alive or had access to that wallet they would rather live as a billionaire and sold during the huge price spikes in 2017+, instead of a run of the mill researcher/programmer?

This is why I said duress. If billionaires or people in power force him to sell and make it public, that will damage btc forever.

 

[.*my*.]

B

 

[ascension]

You can't just sell 1mill BTC in one go

 

[Deleted member 17345]

Zero iq post

 

[.*my*.]

You can't just sell 1mill BTC in one go

You can be forced to sell under pressure 10-1000 btc a day. Once the fact that it is being sold become known it will destroy btc.

 

[.*my*.]

Zero iq post

Why? You’re the expert you should know

 

[.*my*.]

B

 

[.*my*.]

B