Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: MrSpasybo on January 07, 2024, 12:41:12 AM
-
A mysterious transaction has sent $1.19 million worth of bitcoin to Satoshi Nakamoto’s Genesis address. This has sparked a lot of speculation about the identity of the sender and the motives behind the transaction.
An anonymous sender dispatched $1.19 million in bitcoin (BTC) to the “1A1zP” wallet of Satoshi Nakamoto. Originating from the “bc1q9” address, this substantial sum of 26.917 BTC was confirmed at block height 824,513. The motivation behind sending these funds to the Genesis wallet remains a mystery, especially considering the funds have become non-spendable.
>> Satoshi’s Genesis Wallet Receives $1.19 Million Boost: A Cryptic Bitcoin Anniversary Gift (https://news.bitcoin.com/mystery-transfer-unidentified-wallet-sends-1-19-million-in-bitcoin-to-satoshi-nakamotos-genesis-address/)
The transaction to the Genesis address was made from an unidentified wallet. The wallet is not associated with any known exchange or other service, which has made it difficult to track down the sender.
There are a number of possible reasons why someone might send bitcoin to the Genesis address:
+ It is a way of honoring Satoshi Nakamoto.
+ It is a way of sending a message to the bitcoin community.
+ It is also possible that the transaction is simply a mistake.
I'm leaning towards the first possibility, because over the past 10 years many people have deposited BTC into this address to honor Satoshi Nakamoto for creating Bitcoin.
However, the large amount of money makes me worried about the possibility of Satoshi Nakamoto returning to crypto community after many years. This could be extremely exciting for all of crypto markets. Of course, I don't want Satoshi's identity to be revealed, both he and Bitcoin need to be safe.
What do you think about the 26.917 bitcoin sent to the Genesis wallet? Why do you think someone would do that?
-
This is possibly an attempt to prove that one of Faketoshi, Craig Wright is a real Satoshi Nakamoto.
Will eventually Craig Wright can move those bitcoins to prove that he owns the private key of that address?
Craig Wright is Faketoshi and I really don't think he will be able to make any movement from this address.
That transaction is very big but there are more tiny transactions into the address. Many of them are like Dusts but it is useless to do Bitcoin dust attack to Genesis address.
https://bitinfocharts.com/bitcoin/address/1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa
-
This is possibly an attempt to prove that one of Faketoshi, Craig Wright is a real Satoshi Nakamoto.
Will eventually Craig Wright can move those bitcoins to prove that he owns the private key of that address?
Craig Wright is Faketoshi and I really don't think he will be able to make any movement from this address.
That transaction is very big but there are more tiny transactions into the address. Many of them are like Dusts but it is useless to do Bitcoin dust attack to Genesis address.
https://bitinfocharts.com/bitcoin/address/1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa
Ownership is only confirmed by outgoing transactions, not by incoming transactions, so if Craig Wright wants to prove he is Satoshi Nakamoto, he needs to send at least 1 satoshi from Satoshi address to a specified address. Otherwise, all other attempts at proof are in vain.
Personally, I'm still waiting for more news regarding this event: it would be nice if someone confirmed the purpose of honoring Satoshi with that transaction. I don't think Great Satoshi just came back and DCA more BTC ;)
I don't expect Satoshi's identity to be discovered in the future. Satoshi's dedication goes beyond the Bitcoin source code, but also includes his anonymity forever 8)
-
Ownership is only confirmed by outgoing transactions, not by incoming transactions, so if Craig Wright wants to prove he is Satoshi Nakamoto, he needs to send at least 1 satoshi from Satoshi address to a specified address. Otherwise, all other attempts at proof are in vain.
It is true but even not enough.
We can say "Not your keys (private keys), not your bitcoins" but if someone can have access to a private key, send bitcoins, it does not mean the person is an actual original owner of the wallet.
The person can be someone else, just get access to the private key.
So if Craig Wright wants to prove ownership, he must do at least three things.
Move bitcoins from Genesis address.
Sign a Bitcoin message by that a private key of Genesis address.
Sign a PGP message from Satoshi Nakamoto PGP key.
About making a transaction with 1 satoshi, it is not correct because with Bitcoin on-chain transactions, there are limits (minimum) for transactions, to avoid dust attacks.
Depends on address and transaction types, the minimum is different but it is about 330 - 546 satoshis at least.
Legacy addresses: 546 satoshi
Native Segwit addresses: 294 satoshi
Taproot addresses: 330 satoshi
How was the dust limit of 546 satoshis was chosen? Why not 550 satoshis? (https://bitcoin.stackexchange.com/questions/86068/how-was-the-dust-limit-of-546-satoshis-was-chosen-why-not-550-satoshis)
What is meant by Bitcoin dust? (https://bitcoin.stackexchange.com/questions/10986/what-is-meant-by-bitcoin-dust)
dust = (input_vsize + output_size) × 3 sat/vB
-
I do not want Satoshi to return. Some have predicted this event and the collapse of Bitcoin, but I believe this to be a trivial mistake. While making a mistake with such a large amount of money is clearly negligent, this transaction remains a mystery to me.
-
There are some hypotheses, some of which are related to Calvin Ayre and his financing of Craig Wright's litigation, as sending money to those addresses and if Craig was able to transfer it is proof that he is Satoshi. The value of this transaction at the time of sending was £920k, which is the same amount that the court mentioned. You can find the details in @gmaxwell's[1] comment.
Other hypotheses might say that some people use this address as proof of burning, to the point that some Bitcoin haters were intentionally burning some coins to prove that the project failed.
Regardless of the reason, it is speculation, but the speculation regarding Calvin Ayre seems more logical.
[1] Someone just sent 26 BTC to genesis block address (https://bitcointalk.org/index.php?topic=5480574.msg63449574#msg63449574)
-
At very least, i don't expect it's a way to send message to Bitcoin community. If someone wants to send message, they could create transaction which send smallerer Bitcoin amount (but big enough to stand out) and use OP_RETURN to include a message.
-
So if Craig Wright wants to prove ownership, he must do at least three things.
Move bitcoins from Genesis address.
Sign a Bitcoin message by that a private key of Genesis address.
Sign a PGP message from Satoshi Nakamoto PGP key.
About making a transaction with 1 satoshi, it is not correct because with Bitcoin on-chain transactions, there are limits (minimum) for transactions, to avoid dust attacks.
Depends on address and transaction types, the minimum is different but it is about 330 - 546 satoshis at least.
Legacy addresses: 546 satoshi
Native Segwit addresses: 294 satoshi
Taproot addresses: 330 satoshi
+1
Thank you for very detailed and useful information. Amount 1 sat is only symbolic to indicate the ability to transfer BTC from an account instead of receiving BTC. Up to this moment, after more than 10 years, no sat has been transferred from Genesis address, this is good news for the fate of Bitcoin and BTC holders.
Other hypotheses might say that some people use this address as proof of burning, to the point that some Bitcoin haters were intentionally burning some coins to prove that the project failed.
Perhaps Bitcoin haters will be disappointed because the more BTC is burned, the less BTC there is in circulation, causing scarcity to increase, BTC price will increase, attracting more investor attention, organizations and governments.
Unless they can burn so much BTC that it affects market liquidity 8)
-
Ownership is only confirmed by outgoing transactions, not by incoming transactions, so if Craig Wright wants to prove he is Satoshi Nakamoto, he needs to send at least 1 satoshi from Satoshi address to a specified address. Otherwise, all other attempts at proof are in vain.
Personally, I'm still waiting for more news regarding this event: it would be nice if someone confirmed the purpose of honoring Satoshi with that transaction. I don't think Great Satoshi just came back and DCA more BTC ;)
I don't expect Satoshi's identity to be discovered in the future. Satoshi's dedication goes beyond the Bitcoin source code, but also includes his anonymity forever 8)
What Craig Wright has demonstrated over the years is his ego and his lack of respect towards the crypto community. He has had many opportunities to prove that he is Satoshi and on no occasion has he shown any proof or transaction related to ownership of the original Satoshi wallets. All he did was make excuses until people stopped paying attention to him.
As for Satoshi's identity, I hope it never becomes public. That could cause him several problems in certain countries.
-
I do not want Satoshi to return.
No one wants Satoshi to return as if he moves those bitcoins, it was cause the havoc on the market. With that being said, I don't think that he will ever reapper and/or move those bitcoins and that's one of the biggest bitcoins strength anonymity of its creator.
Some have predicted this event and the collapse of Bitcoin, but I believe this to be a trivial mistake. While making a mistake with such a large amount of money is clearly negligent, this transaction remains a mystery to me.
I don't think that this is a mistake but instead calculated move from someone with ulterior motive.
-
We can say "Not your keys (private keys), not your bitcoins" but if someone can have access to a private key, send bitcoins, it does not mean the person is an actual original owner of the wallet.
That's a harsh truth that I'm going to tell but it's a reality. Anyone who has the private keys of a wallet and can send Bitcoin from that wallet to other wallets is the owner of the wallet. Let's suppose if Craig Wright gets access to the keys of Satoshi's wallet then for time being he will be the owner of the wallet and he can do anything with that wallet.
Although we all know that Craig Wright is a Faketoshi not the original Satoshi but if somehow he gets access to the private keys then majority will trust him as Satoshi and the quest to find the original Satoshi will end. That won't happen and we hope that Craig won't be able to use that wallet to send any Bitcoin.
-
No one wants Satoshi to return as if he moves those bitcoins, it was cause the havoc on the market. With that being said, I don't think that he will ever reapper and/or move those bitcoins and that's one of the biggest bitcoins strength anonymity of its creator.
Satoshi's return is risky and could have unfortunate consequences. Bitcoin has gained a certain mystique during his absence, which draws attention to it.
I don't think that this is a mistake but instead calculated move from someone with ulterior motive.
It is unclear why he burned so much bitcoin if this move was deliberate, especially since there isn't much of it left in access. Is he really that wealthy?
-
There is one theory floating around that someone (maybe government) sent all this coins to original satoshi address with intention to try and identify him and to see if he is still alive.
I don't know the truth behind this strange transfer, but I know for sure that this transaction was not done by a mistake but intentionally.
-
There is one theory floating around that someone (maybe government) sent all this coins to original satoshi address with intention to try and identify him and to see if he is still alive.
I don't know the truth behind this strange transfer, but I know for sure that this transaction was not done by a mistake but intentionally.
I read everyone's comments and wondered: "Have we gone too far and fallen into conspiracy theories" ^^
Perhaps, this is just an accidental error, like the incident where someone paid more than 80 BTC for transaction fees[1], even Paxos mistakenly paid about 20 BTC for transaction fees[2]. Maybe a BTC millionaire stores the Genesis address and accidentally pastes it into the BTC receiving address when making a transaction. Because if I cout the message of this transaction as an NFT minted at price $1.19M, I would at least write something to Satoshi like “Satoshi, we miss you!”
[1] Bitcoin Sender Mistakenly Overpays Record $3M in Transaction Fees (https://finance.yahoo.com/news/bitcoin-sender-mistakenly-overpays-record-053338335.html)
[2] Paxos mistakenly paid over $500k for one Bitcoin transaction (https://crypto.news/paxos-mistakenly-paid-over-500k-for-one-bitcoin-transaction/)
-
There is one theory floating around that someone (maybe government) sent all this coins to original satoshi address with intention to try and identify him and to see if he is still alive.
I don't know the truth behind this strange transfer, but I know for sure that this transaction was not done by a mistake but intentionally.
Satoshi has managed to remain anonymous all these years, among other things, by not altering his way of doing things. That means that Satoshi won't do anything strange when he receives coins in his wallet. Disappearing "completely" is one of the smartest things he's ever done, the amount of trouble Satoshi could get into is uncountable. As for the transfers that Satoshi has received, I think they are very juicy bait to see if he takes the bait.
-
I do not want Satoshi to return. Some have predicted this event and the collapse of Bitcoin, but I believe this to be a trivial mistake. While making a mistake with such a large amount of money is clearly negligent, this transaction remains a mystery to me.
Satoshi (whether it be a group of persons or just one man) is a human being like everyone of us and deserve to live, enjoy life, and do the same things we all do.
We all own a bitcoin, which we move bitcoin to, and transfer bitcoin from, from time to time, we do this almost every or every week and it's never made it the headlines, why does Satoshi's own have to be different?
I understand he, or they, are a celebrity in the crypto verse and celebrities are always watched, but we should cut this man, or this group of persons some slack, he or they, moving some bitcoin to the bitcoin genesis address does not mean he or they are going to reveal their identity, because personally, I see doing so at the moment as totally stupid, and I don't think satoshi is that dumb.
I still believe that some one must have mistakenly sent those bitcoins to the bitcoin Genesis address, but even if it was satoshi who did make that transaction, it is totally his or their business I think.
-
We really don't know who send it, I just speculate that,
1. it could be a mistake
2. that someone wants to make some noises but sending it
3. it is really Satoshi's address?
4. that might want to test the owner of that address, whether Satoshi or not if he will moved that coins and then trace it to identify the owner
In any case, I do agree that Satoshi though might not or will not resurface even if they did this kind of trick to him or to that address.
-
Satoshi (whether it be a group of persons or just one man) is a human being like everyone of us and deserve to live, enjoy life, and do the same things we all do.
We all own a bitcoin, which we move bitcoin to, and transfer bitcoin from, from time to time, we do this almost every or every week and it's never made it the headlines, why does Satoshi's own have to be different?
I understand he, or they, are a celebrity in the crypto verse and celebrities are always watched, but we should cut this man, or this group of persons some slack, he or they, moving some bitcoin to the bitcoin genesis address does not mean he or they are going to reveal their identity, because personally, I see doing so at the moment as totally stupid, and I don't think satoshi is that dumb.
I still believe that some one must have mistakenly sent those bitcoins to the bitcoin Genesis address, but even if it was satoshi who did make that transaction, it is totally his or their business I think.
I must have misspoken. I meant that I don't want Satoshi Nakamoto's identity to be revealed, as this would definitely have a negative impact on bitcoin and cryptocurrency in general. He's probably living somewhere in between of us, cleverly hiding his identity but not using the public wallets assigned to him. Agreed, Satoshi's identity - and the hoax around it - has a positive impact on bitcoin.
-
I must have misspoken. I meant that I don't want Satoshi Nakamoto's identity to be revealed, as this would definitely have a negative impact on bitcoin and cryptocurrency in general. He's probably living somewhere in between of us, cleverly hiding his identity but not using the public wallets assigned to him. Agreed, Satoshi's identity - and the hoax around it - has a positive impact on bitcoin.
I believe that the eternal (or at least for now) anonymity of Satoshi is one of the “core values” of Bitcoin. Satoshi himself also chose to remain anonymous for over a decade and there are many possible reasons for this: privacy, security, decentralization, and ideological. By remaining anonymous, he has ensured that BTC remains a truly decentralized and democratic system. He has also avoided becoming the target of government scrutiny or prosecution[1].
I don't even dare to think about the changes in BTC and crypto market after Satoshi's identity was revealed. Perhaps blockchain technology will still develop, but crypto market will lose its leader - BTC.
[1] Why does Satoshi Nakamoto remain anonymous? (https://www.binance.com/en/feed/post/1301838)
-
I do not want Satoshi to return. Some have predicted this event and the collapse of Bitcoin, but I believe this to be a trivial mistake. While making a mistake with such a large amount of money is clearly negligent, this transaction remains a mystery to me.
No one wish for Satoshi Nakamoto to be revealed to the whole world. His anonymity makes bitcoin to have come this far and not being breach of its decentralized network. If bitcoin is ever being sent out of the genesis address, it will bring the market into a great turmoil. I don’t expect that to happen because no indications of anything like that happening but if it does, the market will be shaken up which is not a good sign for bitcoin survival. The person that sent the bitcoin to that address is just up to something or wants to see the reaction of the market to that.
-
The person that sent the bitcoin to that address is just up to something or wants to see the reaction of the market to that.
I think the guy is just looking for a recognition or maybe he's try to fake people into believing he's the Satoshi but I don't even think people really cared about it as majority don't even want Satoshi to revive from hidden background ;D. I still consider that BTC as a huge money to an account which as been in hibernation since the start of Bitcoin history ;D
-
I believe that the eternal (or at least for now) anonymity of Satoshi is one of the “core values” of Bitcoin. Satoshi himself also chose to remain anonymous for over a decade and there are many possible reasons for this: privacy, security, decentralization, and ideological. By remaining anonymous, he has ensured that BTC remains a truly decentralized and democratic system. He has also avoided becoming the target of government scrutiny or prosecution[1].
I don't even dare to think about the changes in BTC and crypto market after Satoshi's identity was revealed. Perhaps blockchain technology will still develop, but crypto market will lose its leader - BTC.
[1] Why does Satoshi Nakamoto remain anonymous? (https://www.binance.com/en/feed/post/1301838)
I agree with you. If Satoshi had been in charge of Bitcoin, he could have been pressured to make decisions in someone else's favour. Decentralisation is better when an asset is run by the community.
No one wish for Satoshi Nakamoto to be revealed to the whole world. His anonymity makes bitcoin to have come this far and not being breach of its decentralized network. If bitcoin is ever being sent out of the genesis address, it will bring the market into a great turmoil. I don’t expect that to happen because no indications of anything like that happening but if it does, the market will be shaken up which is not a good sign for bitcoin survival. The person that sent the bitcoin to that address is just up to something or wants to see the reaction of the market to that.
Who do you think this man is? I can't imagine who he is or why he did it. This adds even more mystery to Bitcoin.
-
About making a transaction with 1 satoshi, it is not correct because with Bitcoin on-chain transactions, there are limits (minimum) for transactions, to avoid dust attacks.
Depends on address and transaction types, the minimum is different but it is about 330 - 546 satoshis at least.
Legacy addresses: 546 satoshi
Native Segwit addresses: 294 satoshi
Taproot addresses: 330 satoshi
Not entirely true, he could send zero satoshi as long as he pays the fee by using OP_RETURN ;D
50e432f59b748e8a6c7a3dffe79b203b559dcdd41b5f5d5aee709dfdd3abd547 (https://mempool.space/tx/50e432f59b748e8a6c7a3dffe79b203b559dcdd41b5f5d5aee709dfdd3abd547)
The person that sent the bitcoin to that address is just up to something or wants to see the reaction of the market to that.
I think the guy is just looking for a recognition
How is he looking for recognition since he has kept staying anonymous days after the transactions hiding and not reveling who he is?
-
3. it is really Satoshi's address?
4. that might want to test the owner of that address, whether Satoshi or not if he will moved that coins and then trace it to identify the owner
In any case, I do agree that Satoshi though might not or will not resurface even if they did this kind of trick to him or to that address.
Did you read @OP ??? ???
Your reply are completely off-topic or they indicate that you did not read. The address above is the Coinbase address, which is the first address for receiving Bitcoin transactions, and therefore it is definitely for Statoshi. As for the reasons, they have been listed in the previous comments.
-
Satoshi Nakamate is a wonderful name to me. His discovery of Bitcoin and its current rise in value is truly astounding. I think it might be a happy news for him if bitcoins are sent to his account in honor. I don't really want Satoshi Nakamate to come back, nor do I think anyone would. It's a creation in his mind that he can't seem to get rid of even if he wants to.
-
Satoshi Nakamate is a wonderful name to me. His discovery of Bitcoin and its current rise in value is truly astounding. I think it might be a happy news for him if bitcoins are sent to his account in honor. I don't really want Satoshi Nakamate to come back, nor do I think anyone would. It's a creation in his mind that he can't seem to get rid of even if he wants to.
Satoshi Nakamoto chose to remain anonymous for over a decade, he did not move BTC from his Genesis account anywhere to sell on CEX or via OTC even though BTC price increased millions of times. It was a wise choice or Satoshi Nakamoto could not have done it due to the loss of his private key(?). I don't think Satoshi Nakamoto will do something out of the ordinary and risk invalidating BTC's mission. At least he didn't suddenly appear with crypto community to share the joy when BTC Spot ETF was approved today ;D
-
Satoshi Nakamoto chose to remain anonymous for over a decade, he did not move BTC from his Genesis account anywhere to sell on CEX or via OTC even though BTC price increased millions of times. It was a wise choice or Satoshi Nakamoto could not have done it due to the loss of his private key(?). I don't think Satoshi Nakamoto will do something out of the ordinary and risk invalidating BTC's mission. At least he didn't suddenly appear with crypto community to share the joy when BTC Spot ETF was approved today ;D
Satoshi Nakamoto has many Bitcoin addresses and has many Bitcoin from mining in early days before and after a first peer to peer transaction from Satoshi Nakamoto to Hal Finney.
No need from Satoshi Nakamoto to move bitcoin from the Genesis address while he has many other addresses. Because the Genesis address is a most famous one and most noticeable address as well.
Hiding identity through a decade and now will leak it by the Genesis address and transactions in and out of that address. It's impossible activity to do by Satoshi Nakamoto.
Can sell bitcoins at non KYC exchanges too https://kycnot.me/?type=exchange but as said, I believe there will be no Out transaction from the Genesis address.
-
Satoshi Nakamoto has many Bitcoin addresses and has many Bitcoin from mining in early days before and after a first peer to peer transaction from Satoshi Nakamoto to Hal Finney.
No need from Satoshi Nakamoto to move bitcoin from the Genesis address while he has many other addresses. Because the Genesis address is a most famous one and most noticeable address as well.
Hiding identity through a decade and now will leak it by the Genesis address and transactions in and out of that address. It's impossible activity to do by Satoshi Nakamoto.
Can sell bitcoins at non KYC exchanges too https://kycnot.me/?type=exchange but as said, I believe there will be no Out transaction from the Genesis address.
Yeah, this is also a possibility for Satoshi to trade BTC without leaving a trace. If this happens, it is normal because Satoshi also deserves a reward for his great contribution. We just need Satoshi's anonymity, which is really important for the future of Bitcoin network.
Until now, despite many onchain detectives, we still do not have any evidence that Satoshi is moving his Bitcoins or has other activities on the network. It is probably true that he left Bitcoin to pursue other equally important goals.
Just for fun: My conspiracy theory: Satoshi is Gary Gensler, who approved BTC Spot ETF 🤣🤣🤣