Comment by iwontberude
8 days ago
Well given they have hunreds of millions of dollars to protect themselves with, it seems like it would be a good time to start using it.
8 days ago
Well given they have hunreds of millions of dollars to protect themselves with, it seems like it would be a good time to start using it.
Satoshi cannot spend his fortune. If he did, it would be visible on the blockchain and bitcoin's price would collapse.
their wealth is not in a single wallet, but rather in 20k wallets. So instead transferring bitcoin, they could just hand out access those wallets.
The receiver will immediately move the bitcoin. So it has the same downside.
If the receiver doesn't immediately move the bitcoin, the receiver is at risk of Satoshi stealing them by retaining the private key and moving them later.
Even if the receiver trusts Satoshi, if the receiver wants to spend the bitcoin on anything, there's the same problem again.
Sure. So just a case of 'trust me bro' on both sides. What could possibly go wrong?
That’s not how you use that kind of wealth. You take loans with the fortune as collateral… come on that’s pretty basic stuff
You still have to pay the interest from somewhere. And presumably you'd need to put the coins into some kind of escrow so that the lender can get their money back even if you conveniently forget your private key.
In this case it's not basic stuff. You would need to prove that you own the actual bitcoin or transfer it for it to be collateral on a loan. It's the same as spending it.
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Imagine mafia knocking on your door and putting a gun to your head because some journalist figured out you are secret billionare.
Not cool?
How is it different from all the non-secret billionaires to say nothing of all the people with 100s of millions?
You really dont get it? Because real billionares have the money and you dont.
Journalists just told everyone you are billionare, but you're just average SWE on $120k / year and absolutely no money for hiring small army of guards. Neither your own government agencies keep your back protected like they do for usual high profile people.
Now go find a proof for mafia that you are not in fact have a billion bucks on USD stick.
This has happened in this Satoshi hunt multiple times already. I mean finding that some random crypto related SWE is Satoshi when they are not.
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Satoshi is a paper billionaire - he can't use a small fraction of his "wealth" to hire proper security. Simultaneously his "assets" are much more attractive to criminals. Imagine holding a regular billionaire hostage and demanding they give you a billion dollars. They'd probably have to sell 1B worth of stock, then convert it to cash (or crypto), etc. all of that requiring multiple interactions with different people and institutions.
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Even if you put a gun to Bill Gates' head, signing over all his wealth to you would still require a lengthy process, not just handing over some keys.
They have Elon money, let’s stop pretending they are some precious little sweetheart.