Hunting Down Moby Dick

October 23, 2024 

The Mobick crypto project began with a dream: to track down Bitcoin whales. If the project team succeeds in revealing which Patoshi wallets are still active and which are lost, it could eliminate one of the biggest uncertainties looming over the Bitcoin community. As you know, whenever a Patoshi wallet becomes active after a long hiatus, it sends a wave of fear through the entire crypto market, causing prices to fall even amid other bullish news. Many Bitcoin whales acquired their coins by sheer luck and are expected to gradually liquidate their holdings over time. Some have lost access to their wallets, and others have even passed away without sharing their private keys. All these factors undermine the otherwise transparent Bitcoin network, which is why the Mobick project team is focusing on Satoshi-era wallets. But how?

At first, the project team distanced itself from the broader crypto sphere, attempting to partner with established companies to bring about real-world change more quickly. It was like playing long ball in baseball—if successful, you could score big with one swing. But has it worked? Out of many partnership agreements, only one—Hanyang University—has made meaningful progress. It's like the Yankees are stuck playing small ball. If you're willing to wait a decade, it might be good enough. But if you're aiming to capitalize on the upcoming Bitcoin bull cycle next year, a drastic change is needed.

In June, Oh Taemin, the Mobick founder, announced plans to list the project on centralized exchanges, a necessary step for moving forward. Oh plans to airdrop Mobick to Patoshi wallets created before Bitcoin’s first halving. Because no one knows which wallets are active and which are permanently lost, these wallets exert a negative psychological impact on the crypto market. Oh intends to invite these wallet holders to make an on-chain transaction on the Bitcoin network. Wallets that demonstrate any activity will be eligible for the Mobick airdrop — potentially worth billions of dollars. These transactions will help eliminate uncertainty surrounding dormant wallets and make the Bitcoin network more transparent than ever before. 

You might be asking, "What's in it for the Mobick community?" It's a question that has troubled me for over a year. The billions of dollars’ worth of Mobick to be airdropped will likely be cashed out, leaving the Mobick community to bear the burden. While the community would certainly grow in size, I don't think this is good news price-wise, as over a million coins would be added to the circulating supply. The current circulating supply is estimated to be around two million.

Let's consider the expected reaction from the Bitcoin community. Some whales might be offended by the airdrop news, but most Bitcoiners would probably welcome it, as it would ultimately make Bitcoin more transparent. Crypto news outlets and influencers would likely be eager to discuss this new K-coin. It’s free publicity, and you can garner their full attention only in a bull market.

Now or four years later? I’d choose now to hunt them down.

#Mobick #BTCMobick #BitMobick #Bitcoin #Airdrop