News for hackers. Stuff that matters.

A comment on Facebook’s Libra is still dead – Diem to be sold off for spare parts. Parent comment

Re:Facebook’s Libra is still dead – Diem to be sold off for ... by ed_elliott_asc on Wednesday January 26, 2022 @09:17AM (#30085632)
Why would satoshi appearing destabilise the market and destroy it? Something I’m obviously missing!
[ Parent | on HN ]
Re:Facebook’s Libra is still dead – Diem to be sold off for ... by latchkey on Wednesday January 26, 2022 @09:23AM (#30085720)
"Satoshi" is missing and that is part of the allure of BTC since it started from nothing. No premine, no vc investment, no corporate backing.

That said, there is an early wallet that is attributed to Satoshi with a giant amount of early mined BTC in it. If it ever moves, people will flip out.

https://en.wikipedia.org/wiki/Satoshi_Nakamoto

"Nakamoto owns between 750,000 and 1,100,000 bitcoin. As of November 2021, that puts his net worth at up to 73 billion US dollars, which would make him the 15th richest person in the world.[21]"

[ Parent | on HN ]
Re:Facebook’s Libra is still dead – Diem to be sold off for ... by toyg on Wednesday January 26, 2022 @09:44AM (#30085990)
It would be like knowing that 5% of all gold ever mined is hidden somewhere.
[ Parent | on HN ]
Re:Facebook’s Libra is still dead – Diem to be sold off for ... by pavel_lishin on Wednesday January 26, 2022 @10:46AM (#30086884)
Stephenson's Cryptonomicon feels weirdly more and more prescient every day.
[ Parent | on HN ]
Re:Facebook’s Libra is still dead – Diem to be sold off for ... by mandelbrotwurst on Wednesday January 26, 2022 @09:21AM (#30085683)
There are a large number of BTC that have not moved since its early days which are largely believed to be / have been controlled by Satoshi, and if they were to move now, there would most likely be some sort of at least temporary price shock because market participants have been largely assuming that they will never move.
[ Parent | on HN ]