this post was submitted on 21 Dec 2024
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Man who claims he invented bitcoin faces prison after filing $1.1 trillion suit (arstechnica.com)
submitted 1 day ago by Xatolos@reddthat.com to c/technology@lemmy.world
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[–] Cocodapuf@lemmy.world 1 points 9 hours ago

When the Bitcoin network first started, only Satoshi was mining coins. He released the white paper, he talked about it publicly and encouraged people to try it, but it took a while for other nodes to join up and start mining. He could hold half the coins mined in the first 6 months. (If it were half the coins in the first 6 months, that would be 1.3 million coins, currently worth $129 billion). That is a potentially destabilizing amount of money.