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I Obtained Satoshi's Treasure Keys 1, 2, and 3 in Minutes

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Re: I Obtained Satoshi's Treasure Keys 1, 2, and 3 in Minutes

#11

Pardon me if my question is dumb, but why did OP share this methodology? Could he not have continued with this for the rest of the keys once they are accessible? Don't you need all of the keys to get a million dollars, or am I missing something?

The later keys are expected to be harder, so if someone is able to get 400 of them total, it would be very surprising if they were stuck on one of these first three.

Re: I Obtained Satoshi's Treasure Keys 1, 2, and 3 in Minutes

#12
post #7
post #3

Ah yes when the Nakamoto Scheme (name courtesy of https://prestonbyrne.com/2017/12/08/bitcoin_ponzi/ ) begins to run out of steam, of course those with stakes need to do something to get the scam back on track. And HN fell for it, hook line and sinker. The Washington Post had it right in 2015 even though they didn't even use the neologism "hodl": > - Hey, do you want to hear about the future? It's a digital currency…

> And HN fell for it, hook line and sinker. I don't see HN falling for anything, unless you mean this submission appearing on the front page. In which case I see someone showing how a lame cryptocurrency treasure hunt used cryptography badly, making the challenge easy to solve without waiting for hints to be provided. The most interesting part for me is actually that dictionary attacks are easy enough that you can us…

The flavor text provided by the organizers made it sound like they intended there to be an easier solution - that way you only need to visit a location in one of North America, Europe, or Asia to solve the first three keys.

Re: I Obtained Satoshi's Treasure Keys 1, 2, and 3 in Minutes

#13
post #3

Ah yes when the Nakamoto Scheme (name courtesy of https://prestonbyrne.com/2017/12/08/bitcoin_ponzi/ ) begins to run out of steam, of course those with stakes need to do something to get the scam back on track. And HN fell for it, hook line and sinker. The Washington Post had it right in 2015 even though they didn't even use the neologism "hodl": > - Hey, do you want to hear about the future? It's a digital currency…

My immediate reaction to satoshis treasure hunt is that it feels like a scam. Is drumming up more interest in bitcoin enough of a goal? I don't buy that someone spent a million dollars (plus invested time to make the game) for fun with no way to make money back.

[deleted]

Re: I Obtained Satoshi's Treasure Keys 1, 2, and 3 in Minutes

#14
post #9

Earlier quoted context omitted.

My immediate reaction to satoshis treasure hunt is that it feels like a scam. Is drumming up more interest in bitcoin enough of a goal? I don't buy that someone spent a million dollars (plus invested time to make the game) for fun with no way to make money back.

> Is drumming up more interest in bitcoin enough of a goal? If you have many millions of dollars in bitcoin, or are a consortium that does, how do you remove any sizable chunk of that money without tanking the market? One way might be to get people interested, and wanting to buy bitcoins, which allows bitcoins to be liquidated easier without affecting the market. Does this accomplish that, and how large does the amou…

How does a CEO of a company turn their stock into a bunch of cash without tanking their stock price? Selling after a bad quarter makes it look like things are dire. If you can't perform well, make everyone think you are going to perform well. Anyone that wants to make a profit off of bitcoin needs to hype it up as much as possible

Re: I Obtained Satoshi's Treasure Keys 1, 2, and 3 in Minutes

#17
post #3

Ah yes when the Nakamoto Scheme (name courtesy of https://prestonbyrne.com/2017/12/08/bitcoin_ponzi/ ) begins to run out of steam, of course those with stakes need to do something to get the scam back on track. And HN fell for it, hook line and sinker. The Washington Post had it right in 2015 even though they didn't even use the neologism "hodl": > - Hey, do you want to hear about the future? It's a digital currency…

Talking about irreversible transactions as if they're objectively bad is intellectually dishonest. Chargebacks are a real issue for many genuine sellers and crypto offers perfect protection for them. If you don't trust the seller then use alternative methods, but this type of transaction is for a niche that needs to be filled.

Re: I Obtained Satoshi's Treasure Keys 1, 2, and 3 in Minutes

#18
post #9

Earlier quoted context omitted.

My immediate reaction to satoshis treasure hunt is that it feels like a scam. Is drumming up more interest in bitcoin enough of a goal? I don't buy that someone spent a million dollars (plus invested time to make the game) for fun with no way to make money back.

> Is drumming up more interest in bitcoin enough of a goal? If you have many millions of dollars in bitcoin, or are a consortium that does, how do you remove any sizable chunk of that money without tanking the market? One way might be to get people interested, and wanting to buy bitcoins, which allows bitcoins to be liquidated easier without affecting the market. Does this accomplish that, and how large does the amou…

Bitcoin has a $12 billion volume in just the last 24 hours. You will need to sell off quite a few million very quickly to have any significant impact on the market, even when considering the fact that much of it is being wash traded.

Re: I Obtained Satoshi's Treasure Keys 1, 2, and 3 in Minutes

#19
post #9

Earlier quoted context omitted.

> Is drumming up more interest in bitcoin enough of a goal? If you have many millions of dollars in bitcoin, or are a consortium that does, how do you remove any sizable chunk of that money without tanking the market? One way might be to get people interested, and wanting to buy bitcoins, which allows bitcoins to be liquidated easier without affecting the market. Does this accomplish that, and how large does the amou…

Bitcoin has a $12 billion volume in just the last 24 hours. You will need to sell off quite a few million very quickly to have any significant impact on the market, even when considering the fact that much of it is being wash traded.

How much of that are real transactions and not just miners trading with each other?
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