Paxful Founder : ‘ Let ‘s Burn All of Satoshi ‘s Bitcoin ‘
” There is a fistful of Satoshis floating around the web these days: Craig Wright, Estonian scientists, marketing specialists and more.
But whomever Nakamoto actually is, one thing is for sure: they’re rich as ***. Nakamoto is estimated to have up to one million bitcoins, worth a little over $10 billion sat in wallets, untouched. But the number of people proclaiming they are the one, true Satoshi is causing confusion and uncertainty across the industry. If Nakamoto does appear and decides to cash in the Satoshi stash—or threatens to—the bitcoin market would almost certainly collapse.
This has led Ray Youssef, founder of peer to peer bitcoin marketplace Paxful, to come up with an unorthodox solution: “Let’s burn all of Satoshi’s 980,000 [bitcoins]”.
“[One] million less coins and we lay Satoshi to rest in Peace,” he added.
By burning all of Nakamoto’s coins, the anxiety provoked by Nakamoto’s unknown identity disappears. No more Nakamoto, and one less reason for the price to crash. ”