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"Satoshi Nakamoto is believed to amassed about one million Bitcoins which would give him a net worth, if all were converted to cash, of about $450m." Anyone kn

"Satoshi Nakamoto is believed to amassed about one million Bitcoins which would give him a net worth, if all were converted to cash, of about $450m." Anyone know what this was worth at its peak?

abhi3 10y ago
The question is can he liquidate his holdings without causing a market crash? Not just because of economics of demand and supply but because of the psychological effects on the market.
- smegger001 10y ago
  considering the cause for him needing to liquidate is known, he has major tax penalties he has to pay, exchanging them now won't cause as big of a stir as if he did it when he was anonymous and would lead to suspicion of some sort of problem with the protocol. and a run to cash in.
  - disposeofnick9 10y ago
    Mossack Fonseca alternatives will gladly arrange gradual liquidation into a Caribbean trust, to allow eventual retirement to a cheap island with pretty girls and piña coladas without salt.
- disposeofnick9 10y ago
  Perhaps folks more knowledgable could weigh in if a large liquidation event could happen by darkpools or some other means that wouldn't cause an oversupply "market run."
firloop 10y ago
The all time high was ~$1216 a coin [1]... so that would put him approximately at $1.2 billion if he has a million coins like the OP suggests. There are about 15.4mm coins in circulation [2], so he has about 6.5% of the current market, or 4.7% of the total BTC that will ever be mined (1/21 million). [1]: https://en.wikipedia.org/wiki/History_of_Bitcoin#cite_note-66 https://en.wikipedia.org/wiki/History_of_Bitcoin#cite_note-6... (would appreciate a correction with a better source) [2]: https://blockchain.info/charts/total-bitcoins https://blockchain.info/charts/total-bitcoins
- puranjay 10y ago
  That's disastrous. A currency where a single individual owns 4.7% of all currency isn't going to end well I remember there was speculation that Bitcoin could go up to tens of thousands of dollars. Which would probably make Wright the richest man alive
  - maaku 10y ago
    You should lookup the Rothschilds sometime.
  - darkr 10y ago
    > A currency where a single individual owns 4.7% of all currency isn't going to end well It's not that far off from real world USD (if you limit it to the US, and extrapolate for number of users) where 16,000 families making up the richest 0.01% control 11.2% of total wealth
    - omegaham 10y ago
      I think the biggest difference is that those 16,000 families aren't just sitting on dollars that are stuffed into Scrooge McDuck vaults. Their money is invested everywhere and is part of the economy. In contrast, Satoshi's coins are currently outside the system, and adding them to the system would cause a whole bunch of instability.
    - dsharlet 10y ago
      There's a huge difference in illiquid assets (most of that 11.2% is real estate, stock, etc.) and currency that is at least presumably intended to be liquid.
    - dagw 10y ago
      The difference is that that wealth isn't cash hidden in a secret vault, but various assets that are already accounted for and an active part of the economy. The closest real world analogy I can think of would be that if all the unaccounted for physical US currency that is floating around outside the US all of a sudden returned 'home'.
dollaaron 10y ago
The price at its peak was nearly $1200, so over a billion.
deleted 10y ago
[deleted]
flashm 10y ago
BBC argyle says that was calculated at 449USD per Bitcoin, so assuming nearly 1Billion USD or thereabouts when they were at their peak
joelrunyon 10y ago
They were close to or over $1k at it's peak. So - somewhere close to a bil.

"Satoshi Nakamoto is believed to amassed about one million Bitcoins which would give him a net worth, if all were converted to cash, of about $450m." Anyone know what this was worth at its peak?

abhi3 10y ago

The question is can he liquidate his holdings without causing a market crash? Not just because of economics of demand and supply but because of the psychological effects on the market.

smegger001 10y ago
considering the cause for him needing to liquidate is known, he has major tax penalties he has to pay, exchanging them now won't cause as big of a stir as if he did it when he was anonymous and would lead to suspicion of some sort of problem with the protocol. and a run to cash in.
- disposeofnick9 10y ago
  Mossack Fonseca alternatives will gladly arrange gradual liquidation into a Caribbean trust, to allow eventual retirement to a cheap island with pretty girls and piña coladas without salt.
disposeofnick9 10y ago
Perhaps folks more knowledgable could weigh in if a large liquidation event could happen by darkpools or some other means that wouldn't cause an oversupply "market run."

firloop 10y ago

The all time high was ~$1216 a coin [1]... so that would put him approximately at $1.2 billion if he has a million coins like the OP suggests. There are about 15.4mm coins in circulation [2], so he has about 6.5% of the current market, or 4.7% of the total BTC that will ever be mined (1/21 million). [1]: https://en.wikipedia.org/wiki/History_of_Bitcoin#cite_note-66 https://en.wikipedia.org/wiki/History_of_Bitcoin#cite_note-6... (would appreciate a correction with a better source) [2]: https://blockchain.info/charts/total-bitcoins https://blockchain.info/charts/total-bitcoins

puranjay 10y ago
That's disastrous. A currency where a single individual owns 4.7% of all currency isn't going to end well I remember there was speculation that Bitcoin could go up to tens of thousands of dollars. Which would probably make Wright the richest man alive
- maaku 10y ago
  You should lookup the Rothschilds sometime.
- darkr 10y ago
  > A currency where a single individual owns 4.7% of all currency isn't going to end well It's not that far off from real world USD (if you limit it to the US, and extrapolate for number of users) where 16,000 families making up the richest 0.01% control 11.2% of total wealth
  - omegaham 10y ago
    I think the biggest difference is that those 16,000 families aren't just sitting on dollars that are stuffed into Scrooge McDuck vaults. Their money is invested everywhere and is part of the economy. In contrast, Satoshi's coins are currently outside the system, and adding them to the system would cause a whole bunch of instability.
  - dsharlet 10y ago
    There's a huge difference in illiquid assets (most of that 11.2% is real estate, stock, etc.) and currency that is at least presumably intended to be liquid.
  - dagw 10y ago
    The difference is that that wealth isn't cash hidden in a secret vault, but various assets that are already accounted for and an active part of the economy. The closest real world analogy I can think of would be that if all the unaccounted for physical US currency that is floating around outside the US all of a sudden returned 'home'.

dollaaron 10y ago

The price at its peak was nearly $1200, so over a billion.

deleted 10y ago

[deleted]

flashm 10y ago

BBC argyle says that was calculated at 449USD per Bitcoin, so assuming nearly 1Billion USD or thereabouts when they were at their peak

joelrunyon 10y ago

They were close to or over $1k at it's peak. So - somewhere close to a bil.