Which side will he choose? What happens if he does?
picture by bbc
I got into bitcoin a couple of months ago and am not well informed of evidence who he might be or not and what exactly is up with his coins.
From a google search however, I read that he has around 1 million bitcoins . At least one big address is known and the coins have not moved in forever.
However with the Bitcoin Cash split, things change.
IF he (probably a group) still actually has the PRIVATE KEY to the coins and did not loose / destroy the key,
he WILL have an opinion about the current situation!
Two possibilties:
If he thinks bitcoin cash sucks and is fed up with craig wright saying that he is satoshi, he might dump them.
If he IS craight wright, who basicly seems to be behind the bitcoin cash thing and he still has the private key (doubtful or he might have proven it before) then he will also sell pretty surely all of them.
If he even starts to dump part of his coins, it will have a huge effect of threat and lead to panic selling / buying.
To put thinks into perspective, currently it takes around 1000 btc to move bitcoin by 1% and around 5000btc to move it 10% on ALL exchanges combined.
A sell order of 1000 btc is still huge.
If he puts up a 100k btc order it is still only the tip of the iceberg.
On the other hand, the 24 hour volume is combined 700 million dollar atm, so it might take a couple of days to dump into him and thats it :D Another bearwhale incident just 30x larger
There is of course not only him as a huge whale from ancient times, things and volume might get crazy after aug 1.
p.s. maybe im totally wrong / there is something I dont know, because I have not read this thought anywhere yet, should be an obvious thought no?
Fun idea. But I would think the God of Bitcoin is pleased with all of his subjects and will not choose a side. Intervening with mere mortals would negate the free-will of the people. Amen.