Suppose you're the Black Rock. What would you do? Just give everyone a free pass? LOL Only in your dream.
Bitcoin Price Thread
- Thread starter Magna
- Start date
So right now the big guys own about half. What happens when they have control of 90+%? How will that change the dynamics?
At this stage, it's impossible for them to accumulate that much. The Bitcoin distribution is way different than shares. Plus, the way I see it, they are holding it on behalf of customers. With stocks, it gives BlackRock voting power I assume if an ETF has lots of shares. So even though they don't own the shares, they can use the vote. But with Bitcoin, assuming government doesn't seize it, I'm not sure what benefit it is to BlackRock other than collecting fees.
Half of what? 90%?
Over 80% of all the 19.6M bitcoins are not for sale and not in exchanges and have not moved in over 3 months
Over 70% of all bitcoins have not moved in over 1 year, some of my bitcoins have not moved in my wallet in over 3 years
Not sure what you're referring to...
I took that spreadsheet to mean that 3% of total bitcoin has shifted from smaller holders to 100+ holders in the last 60 days. I was just wondering how the market would change if that trend continued as price rises. Just running what ifs around in my head. I’m not saying it would have any effect, but it could.
We'll have to wait and see. Always comes down to the hodlers...
Many (most) are not interested to sell at these prices, waiting for 6-figures or multiples so do not have to sell as much, for example, selling 3 bitcoins at $100k/btc or 1 bitcoin at $300k/btc same fiat amount, but less bitcoins to part with
Many bitcoins are lost forever, so you can never get to 90%, I doubt the etf's can even get close to 50%
But you'll have to be in the space for 5-10 years to have conviction that what I say is true. You cannot get there in 1-3 years
I felt the same way when I first got in, I thought millions of bitcoins will be dumped when prices go 5x, 10x, or even 100x, but now, I don't even think about it, hence why I've mentioned a few times I sleep well at night
Australian Craig Wright did not invent bitcoin, UK judge rules
Hans van Leeuwen Europe correspondent Updated Mar 15, 2024
https://www.afr.com/technology/aust...ot-invent-bitcoin-judge-rules-20240315-p5fcmj
London | A British judge has ruled that Brisbane-born computer scientist Craig Wright is not bitcoin inventor Satoshi Nakamoto, potentially closing the curtain on years of speculation and litigation about the Australian’s claims.
In a terse verbal ruling at the end of a six-week case in London, high court judge James Mellor said “the evidence is overwhelming” that Dr Wright’s claims were false.
“I’m prepared to say this: Dr Wright is not the inventor of bitcoin,” Justice Mellor said, according to court reports. “Dr Wright is not the author of the bitcoin white paper. He is not the person who adopted the name Satoshi Nakamoto.”
Craig Wright, the UK-based, Australian-born tech entrepreneur who claims to be bitcoin inventor Satoshi Nakamoto. Getty
Justice Mellor said he would “in due course” issue a written judgment, which would elaborate his conclusions on why Dr Wright had not created the bitcoin system nor written the bitcoin software.
The surprise snap findings on Thursday (Friday AEDT) will electrify the tech community, which has traded bitter blows over Dr Wright and his claims for almost a decade.
It could also, if the plaintiffs get their way, pitch the 53-year-old, UK-based Australian into a new criminal trial on accusations of fraud.
But equally it might not spell the end of Dr Wright’s courtroom campaign, which has been waged through a fusillade of court actions in multiple jurisdictions over the past eight years.
Speculation has long swirled over the identity of the pseudonymous Satoshi Nakamoto, whose 2008 white paper explained how bitcoin would work and triggered the cryptocurrency’s creation. Satoshi disappeared from view in 2011, seemingly with a cache of bitcoin that would now be worth more than $110 billion.
Dr Wright has sought to establish that he is Satoshi, and with it a claim to ownership of the intellectual property of bitcoin, on the grounds that the cryptocurrency was not being used as intended.
His argument has been that bitcoin has largely become an expensively traded commodity, whereas he wants it to be a kind of digital cash, suitable for small, everyday transactions – from which his companies could reap fee revenue.
But the Cryptocurrency Open Patent Alliance – whose leading backers include Twitter founder Jack Dorsey’s Block and crypto exchange giant Coinbase – has sought to prevent Dr Wright from using his Satoshi claim to in effect lock up bitcoin behind a wall of patents and copyright filings.
Justice Mellor’s ruling hands victory to COPA, which initiated the court case that has been running in England’s high court since early February. Other cases have dealt with aspects of Dr Wright’s claim, but this was the first to tackle it head-on. Moreover, this case wraps together four separate lawsuits that revolve around the issue.
A COPA spokesperson said, “This decision is a win for developers, for the entire open-source community, and for the truth,” COPA said in an emailed statement.
“For over eight years, Dr Wright and his financial backers have lied about his identity as Satoshi Nakamoto and used that lie to bully and intimidate developers in the bitcoin community. That ends today with the court’s ruling that Craig Wright is not Satoshi Nakamoto.”
It was unclear on Thursday whether or when Justice Mellor would go further and grant COPA the injunction it has sought against Dr Wright, which would prevent him from continuing to claim to be Satoshi. Dr Wright’s barrister argued against this, in effect on the grounds of free speech.
A social media post from one of Dr Wright’s biggest backers, Canadian businessman Calvin Ayre, appeared to accept Justice Mellor’s verdict.
“Cool. Now Craig is not Satoshi in law. He is still the world’s foremost expert in Enterprise Blockchain,” Mr Ayre said on X.
Dr Wright’s company nChain has similarly said that its business model, and Dr Wright’s role in it, would not be affected by an adverse judgment.
Just before the trial began in mid-January, Dr Wright had used a blog post and a half-page ad in The Times to propose a settlement. He offered “to waive my database rights and copyrights”, and provide “an irrevocable licence in perpetuity to my opposing parties”.
COPA rejected the offer, saying it came with “loopholes that would allow him to sue people all over again”. In court, they sought to show that Dr Wright was using forged documents and inconsistent evidence to substantiate his claim. COPA’s barrister branded Dr Wright’s case “an elaborate false narrative, supported by forgery on an industrial scale”.
Dr Wright’s defence was largely that the apparent inconsistencies or alterations were the result of technical or logistical glitches, unauthorised tampering, or even hacks and compromises of his email accounts and IT systems.
His lawyers also attacked the credibility of COPA’s expert witness. The plaintiff’s barrister responded in court that Dr Wright was “playing the man when you manifestly cannot play the ball”. According to a report on the Wired website, COPA has petitioned the judge to refer Dr Wright for a criminal trial.
Hans van Leeuwen Europe correspondent Updated Mar 15, 2024
https://www.afr.com/technology/aust...ot-invent-bitcoin-judge-rules-20240315-p5fcmj
London | A British judge has ruled that Brisbane-born computer scientist Craig Wright is not bitcoin inventor Satoshi Nakamoto, potentially closing the curtain on years of speculation and litigation about the Australian’s claims.
In a terse verbal ruling at the end of a six-week case in London, high court judge James Mellor said “the evidence is overwhelming” that Dr Wright’s claims were false.
“I’m prepared to say this: Dr Wright is not the inventor of bitcoin,” Justice Mellor said, according to court reports. “Dr Wright is not the author of the bitcoin white paper. He is not the person who adopted the name Satoshi Nakamoto.”
Craig Wright, the UK-based, Australian-born tech entrepreneur who claims to be bitcoin inventor Satoshi Nakamoto. Getty
Justice Mellor said he would “in due course” issue a written judgment, which would elaborate his conclusions on why Dr Wright had not created the bitcoin system nor written the bitcoin software.
The surprise snap findings on Thursday (Friday AEDT) will electrify the tech community, which has traded bitter blows over Dr Wright and his claims for almost a decade.
It could also, if the plaintiffs get their way, pitch the 53-year-old, UK-based Australian into a new criminal trial on accusations of fraud.
But equally it might not spell the end of Dr Wright’s courtroom campaign, which has been waged through a fusillade of court actions in multiple jurisdictions over the past eight years.
Speculation has long swirled over the identity of the pseudonymous Satoshi Nakamoto, whose 2008 white paper explained how bitcoin would work and triggered the cryptocurrency’s creation. Satoshi disappeared from view in 2011, seemingly with a cache of bitcoin that would now be worth more than $110 billion.
Dr Wright has sought to establish that he is Satoshi, and with it a claim to ownership of the intellectual property of bitcoin, on the grounds that the cryptocurrency was not being used as intended.
His argument has been that bitcoin has largely become an expensively traded commodity, whereas he wants it to be a kind of digital cash, suitable for small, everyday transactions – from which his companies could reap fee revenue.
But the Cryptocurrency Open Patent Alliance – whose leading backers include Twitter founder Jack Dorsey’s Block and crypto exchange giant Coinbase – has sought to prevent Dr Wright from using his Satoshi claim to in effect lock up bitcoin behind a wall of patents and copyright filings.
Justice Mellor’s ruling hands victory to COPA, which initiated the court case that has been running in England’s high court since early February. Other cases have dealt with aspects of Dr Wright’s claim, but this was the first to tackle it head-on. Moreover, this case wraps together four separate lawsuits that revolve around the issue.
A COPA spokesperson said, “This decision is a win for developers, for the entire open-source community, and for the truth,” COPA said in an emailed statement.
“For over eight years, Dr Wright and his financial backers have lied about his identity as Satoshi Nakamoto and used that lie to bully and intimidate developers in the bitcoin community. That ends today with the court’s ruling that Craig Wright is not Satoshi Nakamoto.”
It was unclear on Thursday whether or when Justice Mellor would go further and grant COPA the injunction it has sought against Dr Wright, which would prevent him from continuing to claim to be Satoshi. Dr Wright’s barrister argued against this, in effect on the grounds of free speech.
A social media post from one of Dr Wright’s biggest backers, Canadian businessman Calvin Ayre, appeared to accept Justice Mellor’s verdict.
“Cool. Now Craig is not Satoshi in law. He is still the world’s foremost expert in Enterprise Blockchain,” Mr Ayre said on X.
Dr Wright’s company nChain has similarly said that its business model, and Dr Wright’s role in it, would not be affected by an adverse judgment.
Just before the trial began in mid-January, Dr Wright had used a blog post and a half-page ad in The Times to propose a settlement. He offered “to waive my database rights and copyrights”, and provide “an irrevocable licence in perpetuity to my opposing parties”.
COPA rejected the offer, saying it came with “loopholes that would allow him to sue people all over again”. In court, they sought to show that Dr Wright was using forged documents and inconsistent evidence to substantiate his claim. COPA’s barrister branded Dr Wright’s case “an elaborate false narrative, supported by forgery on an industrial scale”.
Dr Wright’s defence was largely that the apparent inconsistencies or alterations were the result of technical or logistical glitches, unauthorised tampering, or even hacks and compromises of his email accounts and IT systems.
His lawyers also attacked the credibility of COPA’s expert witness. The plaintiff’s barrister responded in court that Dr Wright was “playing the man when you manifestly cannot play the ball”. According to a report on the Wired website, COPA has petitioned the judge to refer Dr Wright for a criminal trial.
Australian Craig Wright did not invent bitcoin, UK judge rules
Hans van Leeuwen Europe correspondent Updated Mar 15, 2024
https://www.afr.com/technology/aust...ot-invent-bitcoin-judge-rules-20240315-p5fcmj
London | A British judge has ruled that Brisbane-born computer scientist Craig Wright is not bitcoin inventor Satoshi Nakamoto, potentially closing the curtain on years of speculation and litigation about the Australian’s claims.
In a terse verbal ruling at the end of a six-week case in London, high court judge James Mellor said “the evidence is overwhelming” that Dr Wright’s claims were false.
“I’m prepared to say this: Dr Wright is not the inventor of bitcoin,” Justice Mellor said, according to court reports. “Dr Wright is not the author of the bitcoin white paper. He is not the person who adopted the name Satoshi Nakamoto.”
Craig Wright, the UK-based, Australian-born tech entrepreneur who claims to be bitcoin inventor Satoshi Nakamoto. Getty
Justice Mellor said he would “in due course” issue a written judgment, which would elaborate his conclusions on why Dr Wright had not created the bitcoin system nor written the bitcoin software.
The surprise snap findings on Thursday (Friday AEDT) will electrify the tech community, which has traded bitter blows over Dr Wright and his claims for almost a decade.
It could also, if the plaintiffs get their way, pitch the 53-year-old, UK-based Australian into a new criminal trial on accusations of fraud.
But equally it might not spell the end of Dr Wright’s courtroom campaign, which has been waged through a fusillade of court actions in multiple jurisdictions over the past eight years.
Speculation has long swirled over the identity of the pseudonymous Satoshi Nakamoto, whose 2008 white paper explained how bitcoin would work and triggered the cryptocurrency’s creation. Satoshi disappeared from view in 2011, seemingly with a cache of bitcoin that would now be worth more than $110 billion.
Dr Wright has sought to establish that he is Satoshi, and with it a claim to ownership of the intellectual property of bitcoin, on the grounds that the cryptocurrency was not being used as intended.
His argument has been that bitcoin has largely become an expensively traded commodity, whereas he wants it to be a kind of digital cash, suitable for small, everyday transactions – from which his companies could reap fee revenue.
But the Cryptocurrency Open Patent Alliance – whose leading backers include Twitter founder Jack Dorsey’s Block and crypto exchange giant Coinbase – has sought to prevent Dr Wright from using his Satoshi claim to in effect lock up bitcoin behind a wall of patents and copyright filings.
Justice Mellor’s ruling hands victory to COPA, which initiated the court case that has been running in England’s high court since early February. Other cases have dealt with aspects of Dr Wright’s claim, but this was the first to tackle it head-on. Moreover, this case wraps together four separate lawsuits that revolve around the issue.
A COPA spokesperson said, “This decision is a win for developers, for the entire open-source community, and for the truth,” COPA said in an emailed statement.
“For over eight years, Dr Wright and his financial backers have lied about his identity as Satoshi Nakamoto and used that lie to bully and intimidate developers in the bitcoin community. That ends today with the court’s ruling that Craig Wright is not Satoshi Nakamoto.”
It was unclear on Thursday whether or when Justice Mellor would go further and grant COPA the injunction it has sought against Dr Wright, which would prevent him from continuing to claim to be Satoshi. Dr Wright’s barrister argued against this, in effect on the grounds of free speech.
A social media post from one of Dr Wright’s biggest backers, Canadian businessman Calvin Ayre, appeared to accept Justice Mellor’s verdict.
“Cool. Now Craig is not Satoshi in law. He is still the world’s foremost expert in Enterprise Blockchain,” Mr Ayre said on X.
Dr Wright’s company nChain has similarly said that its business model, and Dr Wright’s role in it, would not be affected by an adverse judgment.
Just before the trial began in mid-January, Dr Wright had used a blog post and a half-page ad in The Times to propose a settlement. He offered “to waive my database rights and copyrights”, and provide “an irrevocable licence in perpetuity to my opposing parties”.
COPA rejected the offer, saying it came with “loopholes that would allow him to sue people all over again”. In court, they sought to show that Dr Wright was using forged documents and inconsistent evidence to substantiate his claim. COPA’s barrister branded Dr Wright’s case “an elaborate false narrative, supported by forgery on an industrial scale”.
Dr Wright’s defence was largely that the apparent inconsistencies or alterations were the result of technical or logistical glitches, unauthorised tampering, or even hacks and compromises of his email accounts and IT systems.
His lawyers also attacked the credibility of COPA’s expert witness. The plaintiff’s barrister responded in court that Dr Wright was “playing the man when you manifestly cannot play the ball”. According to a report on the Wired website, COPA has petitioned the judge to refer Dr Wright for a criminal trial.
Yeah no shit we need a judge to tell us that? It was Hal Finney.