You stumble upon Satoshi's private key... \ stacker news ~bitcoin

You stumble upon Satoshi's private key...

1330 sats \ 37 comments \ @030a29f333 23 Apr bitcoin

What would you do?

Pure hypothetical, I know this isn't a practical thought exercise. Just play along :) or dont and tell me to gfy. Your choice.

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257 sats \ 1 reply \ @BitSapien 23 Apr

put it in a time lock (until the last satoshi is mined ~2140) to only be distributed evenly over the next next 10,000 years if that's possible.

0 sats \ 0 replies \ @OT 23 Apr

I've thought about this too, but without the time lock.

What if you rewarded addresses that have been hodling for more than 8 years and reward them with 10% of the amount in the address.

This would bring more people into bitcoin and more people hodling their stack.

36 sats \ 3 replies \ @premitive1 23 Apr

i would send them to a safer address type to prevent people from stealing it in the future. or i wouldn't do anything at all. hard to say. maybe satoshi is alive and wants to use it some day

46 sats \ 1 reply \ @030a29f333 OP 23 Apr

Would be funny if you moved, say 1%, as a test and Satoshi went "oh fuck" and moved the rest right after

0 sats \ 0 replies \ @premitive1 23 Apr

good point! my fear is moving them for protection but actually stealing them from Satoshi.

0 sats \ 0 replies \ @Bell_curve 23 Apr

Swap into liquid

16 sats \ 7 replies \ @TNStacker 23 Apr

hookers and blow 🤣😂🤣

19 sats \ 4 replies \ @030a29f333 OP 23 Apr

A worthy spend of your sats

21 sats \ 3 replies \ @Bell_curve 23 Apr

Are you being sarcastic?

31 sats \ 2 replies \ @030a29f333 OP 23 Apr

Am I?

5 sats \ 1 reply \ @Bell_curve 23 Apr

I think 🤔 so

21 sats \ 0 replies \ @030a29f333 OP 23 Apr

Obviously sir, those are high time preference spends XD

21 sats \ 1 reply \ @Bell_curve 23 Apr

Why are you laughing?

Don’t forget qualuudes

10 sats \ 0 replies \ @TNStacker 23 Apr

Man, I remember the 80s and 90s! Somewhat!

15 sats \ 0 replies \ @SatsMate 23 Apr

I would not do anything, or I would timelock it into the future - and donate the amount to the top ten cancer societies throughout a 100-year window.

15 sats \ 2 replies \ @BlueSlime 23 Apr

I would create the longest transaction chain ever, with each transaction time-locked to the next block, and spending 1 BTC in fees. Then publish the 100mb transaction blob and delete the private key.

This should guarantee miners a 1 BTC subsidy for the next 20 years.

Or burn it all in an op return.

10 sats \ 1 reply \ @alt 23 Apr

burn it all is the ultimate chad bitcoiner move. I like to think that's what I'd do, but I don't know if I would have the strength. Maybe burn it all but take a couple of thousand for myself.

15 sats \ 0 replies \ @030a29f333 OP 23 Apr

I figured this would be a response of someone haha. Staring at the ability to control that much bitcoin would be an insane temptation, regardless of how moral one thinks they are XD

10 sats \ 8 replies \ @freetx 23 Apr

It is an interesting exercise.

Most likely it would be a huge security risk once you doxed yourself. Would 100% make you a kidnap, ransom, and probably enemy of several black budget agencies.....
Moving the coins would probably send btc into a bit of a freefall....perhaps terminally. So your all those coins might only be worth a fraction of their current value.
Your "best bet" would be to come public and claim that you (by pure chance) happened to discover the private keys to a single wallet (pick a wallet with a few hundred up to a thousand coins...if such exist?). Make it clear that this was dumb luck and only affected this single wallet....This would lower the problems of #1 and #2 considerably and allow you to have retirement money

33 sats \ 5 replies \ @Bell_curve 23 Apr

Peg into liquid for more privacy and confidentiality

10 sats \ 3 replies \ @030a29f333 OP 23 Apr

One time I asked about privacy differences between Liquid and Monero on here and got called a shitcoiner lol. I was just trying to learn more about Liquid :(

0 sats \ 2 replies \ @Bell_curve 23 Apr

There are 2 telegram groups for Liquid

Liquid community Liquid developers

SN hates Liquid and anything that Blockstream is involved with

15 sats \ 1 reply \ @030a29f333 OP 24 Apr

Shame. Liquid is a useful tool for the moment, if nothing else.

15 sats \ 0 replies \ @Bell_curve 24 Apr

Completely

Even lightning can’t escape high fees

Reasonable people use liquid to balance their lightning channels

A lot immaturity and smugness in this forum

0 sats \ 0 replies \ @Bell_curve 23 Apr

Then hookers and strippers and blow and other drugs

28 sats \ 1 reply \ @030a29f333 OP 23 Apr

1 and 2 are precisely what led me to ask the question. What are the physical security implications? Do you see a large number of people leave, thinking Satoshi has returned? Really thought provoking situation IMO.

15 sats \ 0 replies \ @freetx 23 Apr

I think if there was a sudden movement of any of Satoshi's coins it would create the following (overlapping) fears:

(a) Satoshi is planning on selling (b) Satoshi believes its over-valued (c) Satoshi doesn't agree with direction of project any longer (d) Satoshi is not active, but there has been bug found, nothing is safe. (e) Satoshis presence will become politicized by competing groups (ie. Snowden, Assange, etc) (f) Satoshi is alive and will be arrested, co-opted, killed, kidnapped by state

None of those overlapping fears would be easy to quell, and would exist simultaneously to various parts of the community, thus I think a panic sell situation could emerge.

10 sats \ 0 replies \ @Nuttall 23 Apr

If you learn to meditate carefully you can find the key as the hidden is obvious. You also won't care so you leave it alone because you are capable of doing anything.

0 sats \ 0 replies \ @030e0dca83 23 Apr

I think the best way to get back satoshi's sats to circulation - sent tons of transactions with zero UTXO and huge fees. Tons of transactions spread satoshi's satoshi to different miners, these miners spread it among lots of hodlers

0 sats \ 1 reply \ @Satosora 23 Apr

Pay off the us debt? Just imagine how much shit that would shake up.

0 sats \ 0 replies \ @030a29f333 OP 23 Apr

I think that would be bearish for bitcoin tbh

0 sats \ 0 replies \ @Hamstr 23 Apr

I'll probably try create a bitcoin country..Or create a bitcoin passport. Decentralized Passport so people can choose fiat or BTC

0 sats \ 0 replies \ @OT 23 Apr

I would create a massive liquidity pool for join market and let people use it for coin joins with zero fees.

I'd also 10x the lightning network capacity, charging a small fee.

Also a large chunk of Satoshis coins would work well for setting up Ark for when its ready.