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Satoshi Nakamoto moves his 6.5 yr old bitcoins
- deleted 11y ago[deleted]
- bra-ket 11y agoWho is Satoshi Nakamoto?
- deleted 11y ago[deleted]
- jo6gwb 11y agoThis is really exciting!
- deleted 11y ago[deleted]
- deleted 11y ago[deleted]
- boxy310 11y agoInventor of the Bitcoin, which may actually be a pseudonym: https://en.wikipedia.org/wiki/Satoshi_Nakamoto https://en.wikipedia.org/wiki/Satoshi_Nakamoto
- godzillabrennus 11y agoThe guy who posted the original code behind BitCoin.
- rainboiboi 11y agoSomeone kindly explain what's going on please?!
- c-slice 11y agoThe anonymous inventor of bitcoin had a 50 bitcoin put into the first address in the blockchain. It's never been moved (because you can see when bitcoins get moved) but today he moved 50 bitcoin out of the account. We're not totally sure if it's him though, it could have been a bug or a malicious transaction.
- SlalomStallone 11y agoWhat would the value be in USD?
- neilh23 11y agoAccording to Google - $14,281.50
- artursapek 11y agoThe point isn't that those 50 Bitcoins are worth $14k, it's that he owns up to a million of them, and nobody is sure who he is or whether he still had control of those coins. This seems to prove that he does, unless blockchain.info is wrong.
- sneak 11y ago> it's that he owns up to a million of them We have no evidence that that is true, however it is widely speculated and believed to be so.
- nullc 11y agoThe speculation for that particular number is trivially falsified: It's based on assumption that all unmoved coins in the first year were mined by the system's creator (no justification is provided for this assumption). And it is false, many other people mined during that time and lost keys (myself included).
- fizerkhan 11y agoi think, it is 50 BTC, roughly 14229 US Dollar
- deleted 11y ago[deleted]
- boomzilla 11y agoBitcoin newbie here. How do we know that's him?
- justizin 11y agoWe know that the very first bitcoins in the blockchain are "his", and IIRC some other coins have been tracked as "his" based on being in the same wallet or wallets. There are a number of articles on this over the past years. I say, "his", since we don't know who the creator is, could be a group of people, might not be a man.
- sneak 11y ago> We know that the very first bitcoins in the blockchain are "his", Technically, we do not know that, we can only assume it. There is no evidence that the person or persons known as Satoshi have ever mined coins on the mainnet.
- toyg 11y agoThat's about $15k at today's rate, according to Google. Not much, really.
- Simulacra 11y agoThat would pay off my student loans nicely. $15k is still much to some :)
- toyg 11y agoyeah but he's reportedly worth millions among various wallets. If he spends them all in one go, the market will take a big hit. If it's just 15k, it's not a biggie, apart from the news that he's alive (or at least, that somebody has control of some of his wallets).
- sprice 11y agoLooks like a problem with Blockchain.info https://btc.blockr.io/address/info/12c6DSiU4Rq3P4ZxziKxzrL5LmMBrzjrJX https://btc.blockr.io/address/info/12c6DSiU4Rq3P4ZxziKxzrL5L... edit:// Reddit has more info: http://www.reddit.com/r/Bitcoin/comments/3frht4/satoshi_nakamoto_moved_today_for_the_first_time/ http://www.reddit.com/r/Bitcoin/comments/3frht4/satoshi_naka...
- deleted 11y ago[deleted]
- brayton 11y agoSounds about right
- dangtard 11y agoIf only the blockchain was reliable, or trustworthy...
- sprice 11y agoAnd the reddit thread has already been removed. Can we get this HN thread hidden? Or at least the title updated?
- joshstrange 11y agoReddit post still shows for me...
- sprice 11y agoThe link is still active, but notice the "[removed]", and that it does not appear on /r/bitcoin.
- Natanael_L 11y agoFull circle http://www.reddit.com/r/bitcoin/comments/3frowt/_/ http://www.reddit.com/r/bitcoin/comments/3frowt/_/
- artursapek 11y agoAnd the price tanks immediately: https://cryptowat.ch/bitfinex/btcusd/3min https://cryptowat.ch/bitfinex/btcusd/3min
- liveoneggs 11y agothat graph is pretty cool
- artursapek 11y agoThanks! :)
- TomGullen 11y agoThat's not a tank, it's a $2 drop in price caused by ~600 BTC in volume. Just a thin order book (and arguably a good spot to buy in for a short term trade)
- MSM 11y ago"Tanking"? That didn't even cause the lowest trading price of the past 24 hours.
- artursapek 11y agoFor a 5 minute window, I'd consider that tanking. It looks like there is an issue with bc.info, so it looks like traders are holding off making more decisions on this news.
- brayton 11y agoMany people believed Satoshi's 1M coins were lost or inaccessible. Now with the possibility of these coins being available - this could have big implications. Will be fun to follow these coins. I hope someone makes a Santa Tracker for Satoshi!
- pmlamotte 11y agoFor those not aware, the original 50 coins sent to this address were generated from the genesis block, the first block on the blockchain. However, the transaction is still unconfirmed, so until it is this could be nothing. Market has been scared downwards though.
- lisper 11y agoI don't understand. Either this transaction has a valid signature or it doesn't. If it does, then AFACIT the only possible way that it could not be confirmed sooner or later is if it's a double-spend. What am I missing?
- kragen 11y agoMaybe blockchain.info generates its web pages from a database, and someone inserted a record into the database that doesn't correspond to a transaction with a valid signature? Although if that's the case you would maybe expect them to not mark it as "unconfirmed".
- lisper 11y agoBut surely someone would have just checked the signatures on these transactions by now? (I would do it myself but I'm not familiar enough with the bitcoin transaction format.)
- murbul 11y agoThey're definitely invalid transactions. The public keys and signatures do not match the address they're trying to spend from. Only blockchain.info failed to detect this minor detail.
- Natanael_L 11y ago"minor" As in "this plane has no wings" - "that's minor"
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- boxy310 11y agoAt an exchange rate of $284.45 USD/BTC, this comes out to a transaction of a little more than $14,000. However, as creator of the Bitcoin protocol and an early adopter, and that this is one of his oldest wallets, he may be moving unknown quantities of Bitcoin. This could cause a disruption on the open BTC markets if he exchanges a large quantity -- but for what reason? No one knows, since Mr. or Ms. Nakamoto is anonymous.
- oxalo 11y agoWhat's the possibility someone brute forced his private key?
- maxerickson 11y agoRoughly 0.
- valarauca1 11y agoHighly unlikely. Bitcoin private keys are 256bit ECDSA keys. The largest key (publically broken) of this type is ~114bit PS3 hardware key which took 17 months on ~2600 systems. Reference: https://en.wikipedia.org/wiki/Elliptic_curve_cryptography#Key_sizes https://en.wikipedia.org/wiki/Elliptic_curve_cryptography#Ke...
- chasing 11y agoIs this lack of anonymity a feature of Bitcoin?
- 26cf805ae26f 11y agoIt's a consequence of the fact that the general ledger (aka the blockchain) is public information. It has to be, otherwise the system would not work; what I mean is that you cannot design a crypto currency whose ledger is not public information.
- kragen 11y agoIt depends on what you mean by "cryptocurrency". None of the Chaum-based Digital Cash system designs of the 80s and 90s featured a public ledger, but they weren't decentralized. The public ledger was an innovation of Bitcoin (as far as I know, even Szabo's property title system didn't propose to make the ledger actually public), and many people at the time felt that it was a bad idea, since it gave up anonymity. It seems plausible that fully homomorphic encryption will eventually enable a practical and fully anonymous cryptocurrency, but nobody has figured out how yet. Also, even without FHE, maybe someone will figure out how to make a Bitcoin-style public-ledger system that somehow uses Chaumian blinded keys instead of ditching anonymity entirely.
- 26cf805ae26f 11y agoUm... I stand corrected. Thanks !
- Natanael_L 11y agoLook at Zerocoin / Zerocash
- nullc 11y ago> It has to be, otherwise the system would not work; what I mean is that you cannot design a crypto currency whose ledger is not public information. I specifically addressed this misunderstanding in this talk: https://www.youtube.com/watch?v=Twynh6xIKUcat https://www.youtube.com/watch?v=Twynh6xIKUcat 38:48 while explaining this work: https://people.xiph.org/~greg/confidential_values.txt https://people.xiph.org/~greg/confidential_values.txt You can think of it this way: When you sign a message you prove knoweldge of a private key (discrete log of a particular public key). Everyone can verify the signature, and yet they do not learn anything about the private key they didn't know before seeing the signature. There is no conflict between verifyability and privacy.
- grubles 11y agoFrom the discussion in #bitcoin on freenode, this is just an elaborate trolling.
- jackgavigan 11y agoLooks like a false alarm. Other blockchain explorer sites/tools don't show this transaction: Biteasy: https://www.biteasy.com/blockchain/addresses/12c6DSiU4Rq3P4ZxziKxzrL5LmMBrzjrJX https://www.biteasy.com/blockchain/addresses/12c6DSiU4Rq3P4Z... Blockr: https://btc.blockr.io/address/info/12c6DSiU4Rq3P4ZxziKxzrL5LmMBrzjrJX https://btc.blockr.io/address/info/12c6DSiU4Rq3P4ZxziKxzrL5L... Blocktrail: https://www.blocktrail.com/BTC/address/12c6DSiU4Rq3P4ZxziKxzrL5LmMBrzjrJX https://www.blocktrail.com/BTC/address/12c6DSiU4Rq3P4ZxziKxz... WalletExplorer: https://www.walletexplorer.com/wallet/1cd472673f5a7d4f?from_address=12c6DSiU4Rq3P4ZxziKxzrL5LmMBrzjrJX https://www.walletexplorer.com/wallet/1cd472673f5a7d4f?from_...
- ChrisClark 11y agoIt only appears to be recorded on blockchain.info. None of the other blockchain explorers seem to see it. I'd hold off on the news until it's been confirmed. Edit: Others have checked and can't find any of these transactions in the blockchain. Either a blockchain.info bug or hack at this point. Nothing has moved.
- 0x0 11y agoWould it be possible, just by looking at the blockchain.info website, to prove that whatever is going on is signed by someone with the private keys to these coins? If the transaction signatures validates, does it matter whether the they are accepted by the network - it would still prove "he's alive"?
- ikeboy 11y agoIt would; however in this case, the signatures do not validate, they're from a different address.
- deleted 11y ago[deleted]
- jo6gwb 11y agoDoesn't look like these are from the Genesis Block.
- sktrdie 11y agoI'd suggest you delete this post. It's a false alarm.
- 811639047892938 11y agoHe wanted to move them when the price was higher but it took him 4 years to download the blockchain