I think the video is funny because he does a brain dead explainer for the first ~110 seconds and then in the last ~40 seconds he briefly says how risky it is.

https://files.catbox.moe/cfte48.mp4

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[–] TraschcanOfIdeology@hexbear.net 14 points 2 weeks ago (1 children)

Isn't like 40% of bitcoin owned by a single wallet who nobody knows who it is?

I don't know that much about monetary policy, but i'm pretty sure that would be bad for a reserve.

[–] InevitableSwing@hexbear.net 10 points 2 weeks ago* (last edited 2 weeks ago) (1 children)

Isn't like 40% of bitcoin owned by a single wallet who nobody knows who it is?

I googled.

ETFs holding bitcoin are now the crypto's largest holders, surpassing creator Satoshi Nakamoto

Largest bitcoin holders

U.S. Spot ETFs 1,104,534

Satoshi Nakamoto 1,100,000

Binance 633,000

MicroStrategy 402,100

U.S. Government 198,109

Chinese Government 194,000

Bitfinex 184,027

Kraken 158,959

Block One 164,000

Robinhood 142,361

If I understand the article correctly - 9 of the 10 holders are ETFs (exchange-traded funds). The article confused me so I'm using google results here...

Total BTC in Existence 19,914,662.5

Bitcoins Left to Be Mined 1,085,337.5

If my math is right - whoever Satoshi Nakamoto is/are they own ~6%.

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Edit

I'm still laughing at myself. I first wrote: "Satoshi Nakamoto is/are they own ~19%." Hmm... 1.1 probably isn't 19% of 21. Damn media - you do the math!

Also - I'll leave this here - Satoshi's Nakamoto's Bitcoin Stash Could Be Worth $106 Billion

[–] TraschcanOfIdeology@hexbear.net 10 points 2 weeks ago (1 children)

Thanks, i was way off. Still, 6% is a lot for one single individual/actor to hold though.

[–] InevitableSwing@hexbear.net 8 points 2 weeks ago (2 children)

I think it's crazy that he/they are still anonymous. Satoshi's Nakamoto's Bitcoin Stash Could Be Worth $106 Billion

[–] xiaohongshu@hexbear.net 7 points 2 weeks ago* (last edited 2 weeks ago) (1 children)

Nakamoto = “(of) central origin”, or a surname so rare in Japan that not even a single notable figure shared this surname

Satoshi = “intelligent”

[–] InevitableSwing@hexbear.net 4 points 2 weeks ago

I just checked my favorite dictionary and they have a meaning for satoshi.

satoshi (plural same or plural satoshis) The smallest monetary unit in the bitcoin cryptocurrency system, equal to one hundred millionth of a bitcoin.

[–] TraschcanOfIdeology@hexbear.net 5 points 2 weeks ago (1 children)

Maybe they just died or lost control of the wallet? i don't know if their bitcoin has been moved in recent years

[–] InevitableSwing@hexbear.net 5 points 2 weeks ago

lost control of the wallet?

Or they went insane because they forgot their password.

[–] Nakoichi@hexbear.net 13 points 3 weeks ago (1 children)

holy shit lmao I was about to say this belongs in c/slop but it's the fucking washington post che-laugh

[–] InevitableSwing@hexbear.net 10 points 3 weeks ago

I edited the title for clarity.