Bitcoin Forum

You are the genius behind Bitcoin and Blockchain or, to be more precise, behind its technological birth.

You could also be the genius behind its worldwide adoption. How?

By giving 10,000 Satoshi to every living human being on earth. Implementing this might be challening, but less so for a genius like you (I thought of an encrypted database where people can register with personal details, a means of identification and a Bitcoin address, allowing the Satoshi to be sent to them automatically and once only; but this is only a first idea and others might have better ideas). 

Either way... If every human registered and registered only once (of course, this is unrealistic), you would still own enough bitcoin to be (rightfully) a rich man / woman / group - and you would have secured your place in our history books not only for giving Bitcoin to humanity, but also for giving it to every single human being.

Ideas & critical responses are more than welcome! Moreover: Sorry if this idea has already been posted on the forum (a quick search didn't lead to any similar discussions).

I don't understand how giving out 10k satoshi to every human being in the world would fuel adoption.

Unless we have merchants that accepts bitcoin, those 10k satoshis will only lie idle in their wallets. It would just increase the numbers of bitcoin wallets but not actual adoption. Actual adoption will happen once people start using it as a currency. Free money would never going to solve any problem neither it would fuel adoption!

Regulation and legalization are the only way for holistic adoption growth!

My father would never do something like this.    ;)

It's called mining.

Sending two dusts to everyone is just going to clog up the network. Even if it's a one time UBI (send to all?) that's not really something he'll do.

Sounds like you begging for a handout. I really don't think Satoshi is around anymore unless he's lurking the forum. I seriously doubt he ever comes back around, it would take away from the mysterium and legacy he's left (assuming it's just one guy). He already made the project open source, what more could you ask for?
 

But we still don't know if he is still around or he has access to his wallet, or he is in an isolated place and out of touch, granted if he will give each one 10000 satoshis but if they do not how to use it and how it works, it's still useless, adoption begins when we are all educated in how Bitcoin works and it's purpose to humanity, adoption begins in education when it comes to Bitcoin and blockchain.

2 TB = 2,000,000,000,000 Bytes of transaction data

We need better layer 2 or layer 3 or Bitcoin 2.0.

Ah... sure, we would have to wait for the lightning network or other updates to be fully operational!

You know what would most likely happen if Satoshi does do this(assuming 2nd/3rd layer solutions are ready)? Yep, majority would simply just see free money and dump the sats they received for filthy fiat once the 10k sats reaches a point of it actually being worth a significant amount for them to actually spend some time in learning how to sell it. It probably could help in theory, but it's really not something significant in my opinion.

That's 750,000 BTC. Who's to say Satoshi even owns that much BTC, and if he does, why should he give it all away for nothing? Why don't you lead by example and convert all your money to BTC and give it away too?

A global KYC database? Not only is that completely against the very principles bitcoin was founded on, I am struggling to think of something which would be a bigger target for both hackers and governments to break in to.

Satoshi is already firmly in the history books, no worries there.

It wouldn't. 10,000 sats is less than a single dollar. All this would achieve (if it was even achievable, which it isn't) is create billions of useless transactions and dust outputs which would have to be consolidated, and clog the mempool to high heaven.

That is a pretty useless idea. Those 10K sats that will be distributed will not be put in good use and worse, will be included in the statistics for lost bitcoin because owners will probably not care about what they received and will lose the private keys eventually. And the idea of having a worldwide KYC is very frightening.


I think he does. It is estimated that he owns 980K bitcoins.

10k=0.00010000
10thousand people=1btc
10bill people=1mill btc .. so ya i can undrestand the maths of 'why 10k'

but here is a few issues
1. btc is limited to 600k transactions a day
not due to technical limitations, but core dev politics
even if he moved the funds just once. it would take 16thousand days(45 years) just to move the funds once to individual keys
and thats without accounting for regular use by people moving funds around
thats 90 years total. once to claim(45). once to spend(45)

2.linking addresses to personal details / identity...
lets forget the privacy/anonimity argument as that in itself is self explanitory a bad idea. but have you ever heard of proxy voting,  identity theft, fake ID... you know where someone else claims to be someone for gain..
yes it happens if people were told they were getting free funds and all they had to do is supply an ID. scammers would be rich

3. satoshis funds are not stored on some single key, they are distiributed on ~20,000 keys spread over 2 years of using bitcoin. so dont even bother thinking he will just spend all the coins in one go. infact with people knowing they only have 1 chance in 45 years to spend the funds with the current core limitations inplace. people are more then likely to cause a price stampede to sell as quickly as they can before the price tanks too much

4. and after the mass sell off. then what. 90 years have passed where the only purpose of btc was to sell it for pennies to gain just a little bit of fiat. yes i said pennies because the flood of coins would just end up in the hands of corporate exchanges that have peoples ID's
and even when people think they have gained some fiat. the corporate exchanges will send that info to tax offices and them people will end up paying tax on it. thus end up in many cases worse than when they started

sorry but this topic has too many flaws.

How do send 10,000 satoshi to everyone who lives on earth? your idea doesn't make sense to a genius like satoshi. Rather than hoping is better provide the technological development that he created. From my point of view the blockchain still has many weaknesses, we can say the fee is expensive because the value is also expensive. how do we create a P2P platform with some benefits inside, such as creating private network.

If more people own Satoshi, it's more valuable for merchants, product developers, etc. to enter the market. Don't you think?

The idea is a good one as people would get interested and open up a bitcoin wallet just to get an airdrop of about a dollar. Everyone loves free money.
And as they get used to using bitcoin and have an idea about it's future, it would certainly increase the adoption.
But I don't think that would even be possible for a coin as decentralized as bitcoin. Even satoshi can't force anyone to go through it unless we have a huge consensus.

I think the OP idea is to be viewed more like an inspiration for the community to contribute to the adoption of Bitcoin. If every man on this world would have been announced that they have received soemthing for free, they would definitely at least check it out and see what it is about. This way I'm sure at least a part of them would find Bitcoin and the blockchain technology revolutionary and try to accumulate as much as possible.

one person wan't even be satisfied with 100,000 BTC, i don't think a kid will ever be satisfied with 10K satoshi. satoshi had become a hero already. he will be curse for giving out just 10k satoshi to everyone. he'd rather stay undisturbed right now just chilling where ever he may be.  for all humans who wants to have 10k satoshis in the btc wallet, there are more altcoins than BTC, i'm sure you can get more than 10k satoshi out of the altcoins you can gather by joining campaigns.

thanks for all the serious responses and pointing out the many flaws in my thinking (privacy issues, transaction speed, etc.).
for those saying something blunt along the line of "useless idea": don't be a smartass. there's nothing like a useless idea. rather use this "useless idea" to present a better one (that will help to adopt cryptocurrencies globally).

I kinda do see your knowledge here with giving people free money, people getting free crypto would be people that are interested and such a huge event and some free funds might help with the decision.

The biggest problem here is privacy, even if it was Satoshi who created a KYC portal, Bitcoin's purest concepts are based on privacy and the creator just asking for your ID isn't the best gateway into crypto-currencies.

For KYC, someone will end up with your information, either a company working with Satoshi or himself, and I doubt newcomers would give away their ID for a couple cents.

Would there be a solution to achieve this without KYC?

Could use batching, would fit a lot of addresses in a single transaction. But still wouldn't be able to send to 7 billion addresses, not unless there is some sort of massive second and/or third layer solution already.

Your idea is weird and focused more on.. let's just say, focused only on going upward or forward. What you are aiming is the positive aspects of having every human being gets a single 10k sats each. I am not against of you focusing only the bright side but you must think also the negative side effect of massive sending of 10k sats to every person on this planet. I don't know if how many days, months or years before that 10k sats finish sending based on the current version of bitcoin today. I think even the genius people will still have a problem of making it to come true.

Estimated. Which is why I said "Who's to say". No one actually knows, but I suspect it is far less than the 1 million coins figure that is bandied about.

I think you are grossly underestimating how much people value their time. The vast majority of people with no interest in bitcoin aren't going to spend an evening figuring out how to open a wallet just for the promise of a single dollar which they won't know how to spend or convert to fiat.

The day the satoshi account reactivates and start asking for people to send their KYC documents is the day we know that one of the forum admins has been compromised.

No one actually knows, but it's quite possible he owns more than 1 million too. We just assume that the first two years of mining were all his, but he was around long enough to see GPU mining just get started. He could have kept mining and just moving those coins after to make them blend with the rest of the crowd. He didn't need to sell them, just keep moving them every few days or weeks or months, and since they moved, those coins would be "invisible" to everyone else just watching the original unmoved coins.

We should thank CRYPTORALF for his proposal. So we have been able see the limits of Bitcoin.

Size: Duration:

Maybe we need Bitcoin 2.0.

core devs dont even want to give us bitcoin 1.0
we are currently at 0.18.x meaning if 0.18 is 10 years they wanna play around and stiffle and limit bitcoin for over 50 years before bitcoin 1.0

the good(sarc) old core conservative politicians need to be sacked and get some programmers to be programmers.

How (else) could somebody enroll for an airdrop if he doesn't know what Bitcoin is?
How (else) could you prohibit one person from applying multiple times for the money?
You'd need KYC and probably government help too for it. Good luck with that.
Also what will happen with the coins of so many people who still never used internet?!
Also how about the tx fees?

It's a logistics nightmare with no benefit.

As said, the idea has far too many flaws.

Or many recipients will immediately just use the Bitcoin to be converted to real cash that they can use to buy foods and even vices like vodka, cigarettes and even hiring a paid entertainer (just assuming lol). Real adoption can be more complex than just giving Bitcoin for free, of course people will be willing to accept those with a gleeful heart but we know that actually giving money will not solve the poverty crisis still affecting many countries. Doing something like this can be making Bitcoin the biggest charitable effort ever. I am sure though that Satoshi Nakamoto is not interested with this idea.

Even though the purpose behind such thing is good, which is adoption/spreading awareness of the existence of cryptocurrencies, there are many points to critic to this idea. First of all, the implementation of such idea in a global scale. Not all people have access to the required technology, such as reliable internet and digital gadgets, to even get that 10k satoshis. Second, 10k sats won't even hit $1, which would discourage most of the public in even taking their part. You need to give identification, which is a critical step and could be used to ID every single one of us in a centralized system and would risk their identities stolen on a global scale. It's unsecure, and will most likely be doubted if the implementation fails.

Bitcoin 2.0 would be Bitcoin from scratch. The only thing we would reuse is the Bitcoin genesis block to respect Satoshi.

Who would manage this and this against what Nakamoto is teaching us, he is for decentralization and anonymity, not even a good idea to distribute to all people, he doesn't have to do that to secure his place, his name is already secured nothing to do more in his end, by revolutionizing the world by his creation he has done enough, let's not give him more obligations to do.   

What is the point giving out such amount of satoshi out to some people that would still not understand it just like he did when he started, did many people not throw the coin away, which I am also sure that he created a system that will be at will of people to be used and not something that is being enforced or imposed on them.

It is better that people pick interest in it naturally and start growing in community which if many people are really serious, I don’t think that it really take much or a difficult thing to really acquire satoshi that is up to that. People need to understand the bitcoin system very well first before anything of such can happen, otherwise, those people would just change it to fiat and use it to buy one useless thing that will not add value to their future.

At first please can you tell me how is that possible to give 10,000 satoshi to every living human being on earth? Don't you know how many people all over the world has access to computer and internet? I guess no, otherwise you would't say that.
Also despite the fact that satoshi created bitcoin, doesn't mean he is superhero that can do every thing. At first bitcoin isn't first cryptocurrency. Then satoshi created good and mysterious story around bitcoin which really played some part in making this coin popular and on the way where it is now.

This would destroy the earth within weeks. The hashrate of the network would climb to unsustainable levels and the planet would lose its energy grid.

First the icebergs would melt, then the cities would flood... all the while people asking, "When Moon?"

That is scary, anyway, it is impossible for Bitcoin founder  to do that, although the intention is good to make people have their crypto but it is still impossible as not all people knows Bitcoin wherein according to research only 1% of the total population knows and has Bitcoin address.

Yeah, funny but that's the reality, people will ask every minute when moon, when lambo.

You don't know what you're saying, man. What makes you think that giving out Bitcoin to everyone will make them accept it? And moreover telling people to give their identity to receive Bitcoin defeats the purpose for which it was created. And assuming that he does that, they are all still going to sell their coins and that's the truth. He's done the best he can do and that's by creating and whether you want to be part of it or not is your choice. I don't see why he should be sharing Bitcoin to the whole world.

Yep that's true! Making use of Bitcoin is something they should decide for themselves.. If he should give it out for free like the op has said a lot of people are still going to use their coins to buy whatever they want that same day.

Let's say that it was possible but it won't make a positive outcomes, why? first, there are a lot of people that still doesn't have any idea that a digital currency exist. Second, its possible that many people will take advantage on it and use it in illegal activities. I don't even think that Satoshi will also implement this kind of idea because you should think about the results. Also, we should not depend everything on him isn't giving us opportunities enough? You know that a lot of people nowadays are using different techniques to deceive others, why if they wasn't able to use their bitcoin because someone makes them believe and then scam them? it will be wasted for nothing. Of course we can't change the fact that there will be some people who will scam others particularly those people who doesn't have enough understanding when it comes to bitcoin. It will cause a huge negative impact on cryptocurrency because bitcoins reputation is in danger if it finally happens, we don't know how other people think but i'm sure that most of them will take it as an opportunity to get more benefits.

why would anybody want that at all? we want people to choose bitcoin after they see the financial sovereignty that they can gain if they were using bitcoin instead of anything else. what you are suggestion would only mean one thing and one thing only, people who receive "free money" and dump it right away. it won't even achieve what you hope for (that is adoption).

Sorry @OP, i don't see how this idea of yours is going to be feasible. In the first place people need to know about bitcoin, how to use it and how to keep it safe. The industry is already struggling with that and trying to come up with so many mobile applications so that users can use bitcoin with ease and you are here calling for Satoshi (who is likely not to heed to this advice of yours) to send free money to everyone out there.

It will take us ages to get this idea of yours done and we are going to further lose more bitcoins in circulation. In your own way you can try educating people about bitcoin and its uses if you are really up for the adoption of bitcoin in the near future.

Let's face the reality, even everyone have 10k satoshis it doesn't necessarily mean that we can fully achieve adoption. Pretty sure some wouldn't care tho. And why we will pushing this too hard to people that don't want to use it and moreover it will be useless.

While for the kyc, people don't bother to submit in exchange of less than a dollar. *even you say 10k sats will be something, eventually.

Adoption take years and we don't even know when, tbh.

how much is 10k satoshi?what would human has to do with this dust?and why on earth Satoshi will do such?cryptocurrency must accumulate with their own risk and not just to be fed

and if i were the man?i would rather use all the Bitcoin on my wallet to Build schools and university worldwide and has a major subject about Blockchain and cryptocurrency  so people would learn about what is this and the future will benefits and not just those wallet company by sending dusts on each

True, some would not care indeed. Most older generations would not interested anymore,better to target the young ones and millennial. KYC  issues is another hindrance here for countries that  has Data Privacy Law.Educating the masses is the main key for adoption here and by letting different sector to use bitcoin  whether in groceries sores, salary,pension,insurance,ticketing is a good start.

I will not claim that I have enough economic knowledge to have a solid idea about how to launch BTC globally. But I do know that BTC has been launched as a libertarian concept of decentralization, and so I am 100% sure that of all the possibilities that Satoshi had in mind, regulation and legalization were definitely the last.

there is already a couple hundred altcoins that restarted at block 1 using the satoshi genesis..
but your proposal was not to start at block 1 again but start years after and change some code to make it possible to unlock the coins locked in the addresses from 2009-10 to be used as givaway.

seems your concept is changing so hasnt been thought out.. as i state a couple weeks ago

Legalization is not something we can control and that is not something we can even plan for. If countries want to ban Bitcoin then they can hopefully by the time that happens the majority of people would have already been sick to death of the government and the ban actually does the opposite of what they want. If you look at how China banned Bitcoin and that did not affect people using it in china then I would be very confident about legalization and the future outlook of Bitcoin.

Why would Satoshi do something like that. Even our parents or we wouldn't do that. :D Satoshi can do much more helpful things for Bitcoin instead of giving 10,000 satoshi to everyone I think.

I understand this is actually a good idea by giving free money in the form of bitcoin, with the intention of increasing adoption
bitcoin to the whole world. But if we think rationally it's not effective to do, first 10k satoshi for some people a very small amount
that must be obtained by giving KYC for money worth under 1 $ it people are not interested. The second most of the world
community does not understand bitcoin, which does need more education. The third 10k satoshi, if we get nothing, we can't
buy anything, even buying food is still lacking. The conclusion was a good idea but it was not effective to realize. And I'm very
sure Satoshi Nakamoto won't do that.

Although, this is a good idea, but I think this is not the right thing to do, we do have lots of time to earn Bitcoin, we have given time, freedom to choose, hands and feet to work, so we should have no reason at all not to have even small amount of Bitcoin, we should not rely on Satoshi giving his Bitcoins for free, we should not rely on bounties, on airdrops and giveaways, mining and trading is there for us to earn more, let's grow up and let's choose to earn in a decent way.