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Hal Finney Was Not Satoshi Nakamoto
101–110 of 194 posts
Re: Hal Finney Was Not Satoshi Nakamoto
#102Earlier quoted context omitted.
Well, if any of Satoshi's wallets move after Paul Le Roux is released in 2045 or so, we'll have a smoking gun ;)
He was arrested in 2012 and sentenced in 2020. If time spent in jail counts, he'll get out much earlier than 2045.
Time spent in pre-trial detention almost always counts in the USA.
Re: Hal Finney Was Not Satoshi Nakamoto
#103Earlier quoted context omitted.
> is faith based Back when people used precious metals for currency many different economies would all be tied to the same shifts in value. I don’t know all the details but there’s real world support for significant deflation being detrimental not just theory. That said trivial levels of deflation aren’t harmful, but bitcoin had very extreme deflation.
Bitcoin has inflation at the moment. > I don’t know all the details but there’s real world support for significant deflation being detrimental not just theory. The problem is that the "real world support" is usually taken from fiat money economies that are entirely built on inflation, and for historical examples there usually was an economic crisis at the same time that was accompanied by deflation. It's hardly concl…
High levels of inflation are also harmful. +/- ~0.3% per month is fine, outside of that range and you’re hurting adoption.
> an economic crisis at the time
In non fiat currencies you also get deflation from economic growth. Where you can study the effect is when the growth occurs outside of a given economy. Again, outside of my expertise it’s just something I have read.
Re: Hal Finney Was Not Satoshi Nakamoto
#104Earlier quoted context omitted.
Is bitcoin a currency or investment? I would say neither but interesting to see it getting lumped in with investments.
You're right, bitcoin is something entirely new, and we don't know the future, so we don't know what it will end up being.
Entirely new? At this point it's getting a little long in the tooth, if anything
Re: Hal Finney Was Not Satoshi Nakamoto
#105> Who, we ask, is so altruistic as to create a new monetary system but not use it to enrich themselves? Bitcoin's supply schedule, in which half of all Bitcoin is mined in the first four years, guaranteed a Bitcoin wealth concentration on the early miners, especially considering how few there were. At long intervals, Satoshi would be the only one, mining on his laptop. A truly altruistic system would not confer such…
> A truly altruistic system would not confer such a huge advantage on early miners Bitcoin never claimed to be and is not altruistic. And the same can be said about almost all investments, you need information early, you need to judge the information correctly, and you need to move in. Same with bitcoin.
What about kids who weren’t able or had any capital to invest at the time Bitcoin was doing high returns ? They will just be born poor and die poor I suppose ?
Re: Hal Finney Was Not Satoshi Nakamoto
#106Earlier quoted context omitted.
I don't know about the others, but Banksy has been uncovered. It's Robin Gunningham. People still like to say it's "unconfirmed" and "a rumour" but if you look at the evidence there is no real doubt. So I guess part of the reason is that people love the mystery so much, as long as the suspect doesn't come out and say "yes it's me" then they'll just hang on to the mystery. To be honest even if Gunningham said "I am Ba…
Wikipedia says "Banksy is a pseudonymous England-based street artist, political activist and film director whose real name and identity remain unconfirmed and the subject of speculation."
> People still like to say it's "unconfirmed" and "a rumour"
Re: Hal Finney Was Not Satoshi Nakamoto
#107Train an LLM on all of Satoshi’s known correspondences, then have it grade the correspondences of each suspected Satoshi candidate to determine who actually writes like him.
So... NOT Craig Wright, then.
Got it.
Re: Hal Finney Was Not Satoshi Nakamoto
#108The thing I don't understand: if Satoshi is still alive, surely they'd have spent some of that money. They're filthy rich, so why not enjoy it? I get that you can't cash out 5% of any market in one go, without tanking prices. But you can do it gradually.
The Satoshi-mining entity (from early days) has approximately one million bitcoin, verifiable on blockchain explorers of all kinds.
There are multiple monitors (human and programmed) awaiting even a single Satoshi transaction from these addresses [1 "satoshi" == 1E-8 BTC]
Re: Hal Finney Was Not Satoshi Nakamoto
#109The thing I don't understand: if Satoshi is still alive, surely they'd have spent some of that money. They're filthy rich, so why not enjoy it? I get that you can't cash out 5% of any market in one go, without tanking prices. But you can do it gradually.
That's why many people he is either dead, in prison, or has lost his private keys.
Lost in a boating accident, such a shame...
Re: Hal Finney Was Not Satoshi Nakamoto
#110Is it possible ( novice with respect to blockchain here ) , to crack the wallet , with all the computing power of the bitcoin mining ?
Although inconceivably impossible, there IS always a chance that two different nodes generate the same private key, which cryptographically precludes identical public/private keypairs... generated in earnest... at two separate locales.
But this is MORE LIKELY than you brute-forcing the private key to a known public key.
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Also, for technical accuracy... it's not just SHA-256 keys that drive bitcoin network. One of the reasons to "never re-use the same receiving address" is that different algos are used for a new-key-never-sent VS re-used-key . You are technically making the process "easier" by re-using the same private key to push a transaction.
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<3 from your least favorite infamous bitcoin node operator