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by ed_elliott_asc 1599 days ago
Why would satoshi appearing destabilise the market and destroy it? Something I’m obviously missing!
2 comments

"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]"

It would be like knowing that 5% of all gold ever mined is hidden somewhere.
Stephenson's Cryptonomicon feels weirdly more and more prescient every day.
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.