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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.