Why did satoshi Nakamoto withhold one million coins ?

Done carving for the day… didn’t realize it had gotten so late. Some more edges to soften and curves to refine, but this piece is nearly done. Then just sanding and polishing the background. ⚒️🪷

Nitrates from veggies declared Good For You.

But Nitrates from bacon cause cancer.

Discuss?

The story of Satoshi Nakamoto, the creator of Bitcoin, is a fascinating one. While we don't know for certain who or what entity Satoshi Nakamoto represents, there are some widely-accepted theories and insights that have emerged over time.

Regarding the withholding of 1 million Bitcoins (BTC), which was approximately 10% of the total supply at the time, it's essential to understand the context in which Bitcoin was first released. On January 3, 2009, Satoshi Nakamoto mined the Genesis Block, the very first block on the Bitcoin blockchain.

At that time, the maximum supply of Bitcoin was capped at 21 million coins. The total supply was divided into two categories:

1. **Pre-mined Bitcoins**: Approximately 10% (2 million) of all possible Bitcoins were pre-allocated to Satoshi Nakamoto.

2. **Generated through mining**: The remaining 90% (19 million) would be mined over time by Bitcoin miners, using computational power to solve complex mathematical problems.

The 1 million coins held by Satoshi Nakamoto (or the entity controlling them at that time) can be attributed to a combination of factors:

* **Test and validation phase**: To test and validate the system before opening it up to the public.

* **Initial supply**: This would ensure some level of scarcity, preventing inflation or excessive coin creation.

The exact motivations behind Satoshi Nakamoto's decision to withhold 1 million coins remain unclear. However, this strategic move has had a lasting impact on Bitcoin's scarcity and value proposition.

What about it?

Can’t even spell my own damn name.

What’s ignorant is to have lived your entire life and never examined the meta cognitive effects of the media environment you and your generation where raised within.

Important to always remember this

Dad wants to sell #bitcoin for gold 🤦🏻‍♀️