A long-time developer wants to split Bitcoin blockchain and reassign Satoshi coins. The community is calling it a theft
A veteran Bitcoin developer has proposed a controversial hard fork that would redistribute Satoshi Nakamoto's estimated 1 million dormant bitcoins to active network participants. The proposal, which surfaced on developer forums this week, has sparked fierce debate within the Bitcoin community, with critics labeling the initiative as outright theft of the cryptocurrency's founder's holdings.
The developer argues that Satoshi's coins, which have remained untouched since the early days of Bitcoin's creation, represent a systemic risk to the network's decentralization. These coins, mined between 2009 and 2010, are valued at approximately $70 billion at current market prices. The proposal suggests redistributing them proportionally among current Bitcoin holders through a blockchain split, similar to previous cryptocurrency forks.
Bitcoin core developers and community leaders have overwhelmingly rejected the proposal, arguing it violates fundamental principles of property rights and immutable blockchain records. Legal experts suggest such a move could trigger regulatory scrutiny and undermine institutional confidence in Bitcoin as a store of value. The controversy has reignited discussions about Bitcoin's governance structure and the community's ability to resist changes that contradict its founding principles.
The proposal remains in early discussion stages with no concrete timeline for implementation. Community sentiment appears strongly opposed, making any successful fork unlikely without broader consensus that currently does not exist.
Source: CoinDesk
