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LINKS FOR ADDITIONAL READING FOR THIS VIDEO & ALL INFO IN TEXT DOWN BELOW:

More on Satoshi’s Wallets: https://news.bitcoin.com/people-keep-sending-satoshi-nakamoto-bitcoin/

Today marks the one month mark of this Words from Satoshi series. So if you think I should continue on with this one, hit that like button and leave a comment saying why! If you think it’s time to move onto a different series leave a comment below and feel free to add a suggestion if you’ve got one. So let’s get right into some more Words from Satoshi:

Today I want to cover one of Satoshi’s quotes that hits home for probably 90% of people who have had to teach themselves how to store and/or transfer Bitcoin.
For those of you who have regrettably lost your passwords, private keys, or perhaps sent Bitcoin to a wrong address, this one is for you.
I hope the amount that you lost is not a life changing amount, although if this happened even just a year or two ago, it’s likely it could’ve turned into this. Regardless, if you’re looking for any kind of silver lining, Satoshi has something to say to you:

“Lost coins only make everyone else’s coins worth slightly more. Think of it as a donation to everyone”

So at the very least, you can wear that badge of honor knowing you’ve done a small part in reducing the supply of Bitcoin, thus helping the value increase in turn. However, even more so than this, I’d hope that you’ve since learned from your mistake and have taken the necessary precautions to ensure it won’t happen again.

Let’s get back to this quote of Satoshi’s. In case you didn’t know, there are a large amount of Bitcoins that are stored in wallets that are thought to be Satoshi’s. Reason being that these Bitcoins were mined way back in 2009 and haven’t moved since. I wonder if Satoshi has any plans for these mint-condition, classic car style Bitcoins. I wonder if he’ll ever transfer them, sell them, or if he’s actually destroyed the device they are stored on as his own way of saying “you’re welcome”. As if designing Bitcoin and the blockchain weren’t enough, he wanted to help with inflation too. What a guy!
But really though, if this is the case, and you were in Satoshi’s shoes, would you have the moral fortitude to keep from selling out? If you ever needed a reminder of the kind of character Satoshi has, there is evidence everywhere if you take the time to look.

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23 COMMENTS

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  10. Smart short smart video! Thanks!

    By the way Bitcoin advocate and Litecoin creator Charlie Lee did a very informative video on the Adam Meister Bitcoinmeister show on Tuesday! Not a trading video but very informative! (59 mins long though). Ever thought being guest on his show! Amanda from Dash is the only other woman I've seen!

  12. Hey Heidi, here is a topic for you (and maybe your interview with Andreas..) I'm keen to understand the robustness of these coins and the blockchain.. What if governments decide to ban bitcoin.. China arrests all miners.. the US bans bitcoin sales and fiat gateways.. and makes it illegal to mine.. I know it sounds extreme and unlikely.. but we are still at a stage where bitcoin isn't disrupting the big banks.. if it came to a time when it did begin to disrupt them.. I could see governments taking a more aggressive stance.. Might it be like Napster… they stopped it, but now there are torrents. I'm trying to project how might governments go after bitcoin into the future. I can see governments potentially causing mass fear and destroying the price, but not necessarily the network itself. Second topic is stable coins.. I'm think a lot of organizations unnecessarily create their own coins. Might stable coins be the solutions.. You want a coin to use on the platform.. but don't want all that volatility and maybe don't even want to manage coin technology.. be great to see more projects that are using stable coins, not just the ones inventing stable coins. I know you have covered stable coins, but this is somewhat looking at it from a different angle. My two sats.. Thank you, great job again.

  13. Keep going , more info about satoshi and the link to Hal finney.and how satoshi nakamoto lived nearby to Hal finney , and he lost his house in the 2008 financial crisis , great series thanks for sharing your insight

  15. Yes please. This is an area which too few people know about. Most people dont even know about the history of Satoshi Nakamoto and how utterly brilliant he was. This work is valid, Heidi. Keep it up, please.

  20. Stick with it kiddo. Every few episodes it's great that you offer a gentle reminder as to the roots of this ever branching crypto tree… Knowing where it started helps us keep our baring as we grow in new directions and to new dizzying heights.

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