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It would be a great con, indeed. Going into hiding for 7 years so far, at a time when Bitcoin wasn't worth much, hoping that in time it will grow in value. But
by bhaak 10y ago
It would be a great con, indeed. Going into hiding for 7 years so far, at a time when Bitcoin wasn't worth much, hoping that in time it will grow in value.
But tell me how to cash out any of those bitcoins that are supposed to be Satoshis without crashing the price? Just because it's on the blockchain doesn't mean anything as that only shows that those coins have changed ownership. They haven't been converted to fiat at that time.
Being able to sell on exchanges usually takes a few confirmations and by then, enough people will have heard the news of the coins moving and the price will already have plummeted significantly. Sure, those old coins would still be worth something but the actual monetary gain would be much less and Bitcoin itself might not survive such an event.
You could of course trade those coins over the counter, just sell the private keys or another method of an off-chain transaction but that still leaves the issue on how to cash out eventually?