7 ms·

A good way to burn Bitcoins. Most probably Satoshi will never ever move them.

by mrkramer 3y ago

theshrike79 3y ago
I'm betting there's a 100% chance that nobody has the key to Satoshi's wallet.
- jakderrida 3y ago
  Serious question... Why wouldn't Satoshi have it? I'm only aware Satoshi created Bitcoin and remained anonymous.
  - defrost 3y ago
    Serious possibility; Satoshi is a modern Nicolas Bourbaki and the key can only be recovered via a majority split key submission.
  - nullc 3y ago
    Satoshi was also pretty strenuous in tech support in telling people to never delete wallets.
  - ur-whale 3y ago
    > Serious question... Why wouldn't Satoshi have it? Block zero was in all likelihood "mined" by Satoshi. As a matter of fact, that specific block might even have been created by hand.
  - theshrike79 3y ago
    Mostly because I think that the person(s) behind the name just plain lost the wallet at some point. There's also the myth and legend of The Satoshi Wallet. People have software checking it automatically and _any_ transfers out would be stuff of legends immediately. Any major transfers would cause panic - the founder is leaving, what's happening?!
bjornsing 3y ago
And if he does all bitcoins will be pretty burnt.
asystole 3y ago
It's more than that - this particular address is the coinbase output of the genesis block (block 0) and it's literally unspendable. edit: I'm wrong, see https://en.bitcoin.it/wiki/Genesis_block https://en.bitcoin.it/wiki/Genesis_block
- nullc 3y ago
  No it isn't. The 50 bitcoin created by block zero are unspendable (because by intention or error the software never passed block 0 through the validation logic that would enter those coins into required data structures). But any other payment made to that address/pubkey are perfectly spendable by whomever has the matching private key. Though that misunderstanding is somewhat common, so it's not impossible that the payee believed that they were sending the coins to an unspendable address.
- h43z 3y ago
  Is that really true? Or does that just apply to the 50 btc of the genisis "reward".

A good way to burn Bitcoins. Most probably Satoshi will never ever move them.

theshrike79 3y ago

I'm betting there's a 100% chance that nobody has the key to Satoshi's wallet.

jakderrida 3y ago
Serious question... Why wouldn't Satoshi have it? I'm only aware Satoshi created Bitcoin and remained anonymous.
- defrost 3y ago
  Serious possibility; Satoshi is a modern Nicolas Bourbaki and the key can only be recovered via a majority split key submission.
- nullc 3y ago
  Satoshi was also pretty strenuous in tech support in telling people to never delete wallets.
- ur-whale 3y ago
  > Serious question... Why wouldn't Satoshi have it? Block zero was in all likelihood "mined" by Satoshi. As a matter of fact, that specific block might even have been created by hand.
- theshrike79 3y ago
  Mostly because I think that the person(s) behind the name just plain lost the wallet at some point. There's also the myth and legend of The Satoshi Wallet. People have software checking it automatically and _any_ transfers out would be stuff of legends immediately. Any major transfers would cause panic - the founder is leaving, what's happening?!

bjornsing 3y ago

And if he does all bitcoins will be pretty burnt.

asystole 3y ago

It's more than that - this particular address is the coinbase output of the genesis block (block 0) and it's literally unspendable. edit: I'm wrong, see https://en.bitcoin.it/wiki/Genesis_block https://en.bitcoin.it/wiki/Genesis_block

nullc 3y ago
No it isn't. The 50 bitcoin created by block zero are unspendable (because by intention or error the software never passed block 0 through the validation logic that would enter those coins into required data structures). But any other payment made to that address/pubkey are perfectly spendable by whomever has the matching private key. Though that misunderstanding is somewhat common, so it's not impossible that the payee believed that they were sending the coins to an unspendable address.
h43z 3y ago
Is that really true? Or does that just apply to the 50 btc of the genisis "reward".