What’s the Deal with Satoshi and His Coins?

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topblastNewbie
Posts: 164 · Reputation: 27
#1Sep 25, 2020, 04:07 PM
Hey everyone <3 So I've been wondering, why did Satoshi Nakamoto, the mysterious genius behind Bitcoin, mine so many coins? He said there’d only ever be 21 million coins, but if that’s true, why does he hold like 1/21 of them? Seems a bit off, right? We all know his code ensures only 21 million can ever exist, but it’s puzzling that not all of his coins can be accounted for.
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Posts: 95 · Reputation: 8
#2Sep 25, 2020, 08:57 PM
How is the whole 21 million Bitcoin cap even enforced? I’ve read stuff like, was Satoshi just a greedy miner? Honestly, I don’t think he took coins from us. As the creator, it makes sense he’d want to mine some early on when few people were using Bitcoin, just to test it out. Back then, Bitcoin was basically worthless anyway.
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wagmiNewbie
Posts: 301 · Reputation: 14
#3Sep 26, 2020, 02:25 AM
You’re thinking too hard about this. Satoshi mining those early coins was just to secure the network. It’s not like he was hiding anything. Most people just use Bitcoin as it is, even for betting and stuff.
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diamondhandsHero Member
Posts: 200 · Reputation: 2112
#4Sep 28, 2020, 09:57 AM
Wait a minute... I don’t see the logic here. If Satoshi really mined 1/21 of all bitcoins, how does that change the total supply? Honestly, Bitcoin was free to mine for everyone back then. If you had put in the effort like Satoshi did, you could’ve gotten a similar amount. And just to add, gmaxwell was mining too, not just Satoshi.
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