There’s one big question facing Bitcoiners in 2020—particularly those following Bitcoin SV (BVS). What happens if the famed “Satoshi Coins” early-mined Bitcoins supposedly belonging to Satoshi Nakamoto, start to move? Does the thought make you feel excited, nervous, both, or… nothing at all? If you’re the last option you’re probably a Zen master or you know something no one else does, we’d like to have a few beers with you. Otherwise, at the end of 2019 it’s time to go into wild speculation mode and look at some of the possibilities.
Just a quick note: We’re not predicting any coins will move from the known “Satoshi wallets” in the next week. And we don’t have any inside information on the matter. Think of this as our riff on a hypothetical that’s been in the back of Bitcoiners’ minds for almost a decade.
What are ‘Satoshi Coins’ anyway?
That’s a good question. There’s no definitive proof that “Satoshi Nakamoto,” or whatever that name represents, holds Bitcoin in any address, wallet or information that’s available to the public. However since “Satoshi” was mining Bitcoin for the first 70 blocks at least—and the blockchain shows those blocks were mined into coinbase addresses and have not been moved since—those Bitcoins could be described as being “Satoshi Coins.”
Dr. Craig Wright in court testimony, October 2019:
The first 70 addresses are definitively ones that I was involved with verifying. After that, there was another party at 74, I don’t know who that individual was. And then 78 I believe is Hal Finney.
Bitcoin followers have been watching those addresses like hawks for years. If any coins appeared to be moving from them, crypto conversation on the internet (and probably elsewhere) would explode.
There may be many other “Satoshi Coins” addresses as well. There probably are. No one knows for sure.
There could be other signs that something is happening to a large number of early Bitcoins. Someone may begin…