Bitcoin Forum

Would you? Or would that be a waste of time for you?

Of course I would, especially if it was face up and looked like it might be from a leap year!

Happy coin hunting!

How much is that?  $0.70 or so?

Hmmm, depends how it looks.  If it looks like physical Bitcoins, hell yes!

https://ravenbit.com/wp-content/uploads/2013/12/ravenbit-diy-physical-bitcoin-kit-1005-800.jpg

I'd pick any coin from the ground :)

Yes why not! Well, maybe I wouldn't, actually. I think there are people who need those Satoshis more than I do! Maybe someone who is begging in order to buy their next meal... Or someone who needs some more luck than I do!

There is no pattern about how physical coins should be. Chances are that people might not recognize the,
And it might be some paper wallet, so I could just let it pass thinking it was some trash paper with no value.


Problem is that the value is less than I would need to transfer to a secure wallet of mine.

Its the same thing as asking someone would you pick up $100 bill, of course.

Its accepted as money..  :D

if that coins are physical then no one can stop to be picked.

I would pick it. Who knows what would be the value of that coins when time comes.

no it's dirty  :D

Who would refuse to pick anything with value from the ground?

It is nothing personal against or towards bitcoin

just had a really weird thought. Homeless people put qr code on a sign, people could donate bitcoin to them, they could take the money to ATM at the end of the day.

I'd assume it's some asshole kid's revision of the dollar on a string prank. I'd assume they hold the privkey and empty the wallet as soon as they see your eyes light up. :D

^ This, is the best post I've seen all day. You won my happiness. Imagine, picking up the wallet, quickly scanning the pub key, oh look 5$ in there, you import priv key, 5$ gone...

That may become a true story lol.

The whole hahah gotcha bitch prank.

Probably not, if they would be common coins I would go away and let someone else pick them up.

Only if it was minted Casascius by Mike Caldwell!

Casascius coins are a beautiful and rare mint...

This could be a good bitcoin promotion  :P

Yes why not, then I would give them to a friend of my son as a present.

$0.0072?  Probably not.  I generally don't pick up U.S. pennies that I find on the ground, and that's less than a U.S. penny.

Yes i would, no matter how much it worth, i'll still pick it.
Just feeling strange to ignore such things. :)

Yes and I would pick only 1 satoshi from the ground to donate it.

i would, its not that i care about 1500 satoshis, but i dont like wasted money.

even for coins of fiat, i have a big jar and place them there, i teach my kids to do the same.

the jar is currently over 6 kg heavy, didnt bother to count the worth tho, its more cool like this.

No .. Who would drop 1500 satoshis on the ground every hour? or every day? ..
BTC is a real coin actually , but we got it in asets , same like oil , would you like to pick 1L oil off the ground?

Definitively I would, if I had not much more work how to redeem the 1500 Satoshis.
qr code of the private key is ok for me

Can never have enough oil around the house. I'd imagine 1500 satoshis' worth of oil would be more like a drop than a liter, though.

depends, is it dirty or not

It would actually be less because you would need to spend the entire amount you were to pick up if you wanted to attempt to spend it.

I will pick it up if its 1 bitcoin, 1500 satoshi is too little.

I would pick 0,001 btc or more, less is only dust and could be found by someone who can appreciate them..

Yes I would, I don't own any satoshi...

Any coin is extra right no matter what currency it is! :)

I personally yes would waste my time picking up satoshi's from the ground no matter how many were down there as like I say it's extra in the end and who doesn't need extra. I mean I may look a little crazy spending a chunk load of time picking them up but at least I would know I was a little better off afterwards.

Yep i probably would as i could buy some altcoins with promising future for that and turn it into quite nice profit at the end of it maybe :P

1500 satoshis could be worth something in the future, so I would pick them for sure.

It depends on the current value, if 1500 sat will be valued 10$ or more in that precise period I'd pick them all, viceversa not.

Nope for me. Even if the coins are clean, bending down 140 times for a dollar doesn't sound like a good idea to me. :)


If you picked it 100 times, you will get about $0.7 lol. :P

that's the point.. it not worth that to take that satosi :D , except every betwen 15 to 1 hour you found it ;D

That depends on how many coins there are, and how far they are apart.

If I can pick up a coin every second and there are countless of them around me, I would definitely spend as much time as possible there to pick up every coins and get 0.054 btc an hour.
If I need to walk a minute to find a coin, why would I waste an hour to get 0.0009 btc?

Yes for sure! I would pick it up off the ground, leave it in a safe for 5-10 years or more and then check the price.

That would require you to spend at least 3,600 outputs.

You'll end up spending at least 0.00001 BTC in fees for every 6 outputs that you spend.

That means that in order to spend the 0.054 BTC, you'll pay at least 0.006 BTC in fees, resulting in only 0.048 BTC in spendable income.

That assumes that you pay a transaction fee of only 0.00001 BTC per kilobyte, that you can fit 6 outputs per kilobyte into your transaction, and that every one that you pick up is a single output.

If you pay a more typical 0.0001 BTC per kilobyte and you fit a more typical 5.5 outputs per kilobyte into your transaction, you'll end up paying more like 0.06545 BTC in fees to spend the 0.054 BTC.  This means that picking up the coins will actually cost you 0.01125 BTC per hour.

It would make more financial sense to do something else for the hour to earn cash, and then exchange that cash for bitcoins.

lol.. then I wont. Let the other people who needs it pick it up 10  ;D0 times.

I like this - got a link to the homepage?

Don't think they're pre loaded with any coin, just there to look at and be pretty:

https://ravenbit.com/

For the real deal holyfields, these will cost you a pretty penny:

https://www.titanbtc.com/

If the value covers a transaction fee it's worth it. Now where do I find these to start picking them up?

Bitcoin geocaches anyone?  :o

What can I do with that 1500 satoshi with a value of $0.006?
I guess it is pretty much nothing, so it is a "no" for me. :)

I would pick it. If 1 bitcoin is worth $100,000 each.

I`d pick it up at $100,000 value as well lol.  :P

Very true. I haven't thought about it in depth.

EDIT: On the second thought, since I have a dozen of bitcoin sitting in my wallet, I could have created fee-less transactions to consolidate the dusts.
For a transaction with 6 inputs (5 dust + 1 big input) and 1 output, the size should be about 930 bytes. So, I just need 54 confirmations on a 10btc output to make the transaction priority over 57,600,000. In that sense, I should be able to slowly reduce the number of dusts day by day without any bitcoin fee but only some time cost lol. ;D

yeah cause its $1500 in the future just for bending down  ;D

I will pick it, I will add it to my collection. Bitcoin value will change overtime. This is are real coins you can transfer it without transaction fee.

I will pick any coins on the ground that has value.

Even if such a coin is worth for 0.6 cent?
Wouldn't it be wiser for you to spend your time on a part-time work or self learning instead of picking up those 0.6 cent coins?

Some great info here. So now my plan to pick up the coins would be to just collect them. And before spending, add a few to minimize transaction fees. I'm thinking since they are coins, you'd be able to put them in something to add their value to your wallet. If coins just had info on them that you scanned, well then all the coins on the ground could be spent and worthless, changes my whole thinking then.

Picking 1500 satoshis off the ground is like a faucet without the captcha.

Yes, if you are willing to set aside a single 10 BTC output to use for consolidating dust, every 9 hours you could possibly consolidate 5 dust inputs.  If you spend 1 hour picking up 1 output per second, you'll have 3600 outputs to consolidate.  Therefore, if you remember to consolidate them every 9 hours, it will take you about 6,480 hours (270 days) to consolidate your 0.054 BTC.

Of course, you're spending a lot more than 1 second per output in the effort now.  There have to be faster, easier, and better ways to earn $20 in 9 months.

Yes I would, and whoever wouldn't is being hypocrital. Everyone picks FIAT money daily, why not satoshis?  ;D

You would be wasting your time and effort.


You are mistaken.


Not necessarily.


Because it costs you money to pick it up.  It costs more than it's worth.

I would pick even 100 satoshis off the ground, money is money and should always be shown its due respect
Not discounting the fact that 100 satoshis might buy me a cup of coffee in some distant future

But then you should be better off working at McDonald for an hour and use the wages to buy 0.01 btc (1000000 satoshi :P) instead of picking those 1500-satoshi or 100-satoshi coins on the ground.

If bitcoin was real i would go to a real mine.. and get rich

No I will not bow for such a small amount. I can get more even with faucets. But if bitcoin was more like 100k+ $ then I would pick it.

I most definitely would if it was right there in front of me or it was a small detour from where I was already walking.  I pick up pennies and nickels all the time.  It amazes me how many people just throw them on the ground.  I find dimes and quarters as well often. At the end of the day, no matter how small it is, it adds up over time.

Considering how many people run faucets day in and day out I assume most people would. I know I probably would. Then again I pick up pennies off the ground.

It would be something like 70 pennies. I wouldn't pick such amount.

That as long as it looks nice even a penny if its still in ciruculation in that country  ;D

Yes they are always money! Who doesn't pick up money from the ground?  :o

You wouldn't pick up two quarters and two dimes?

How often are you finding these? Like a faucet you can get 500 satoshis an hour, multiply that by 24 and then 7 days a week that is 84000 per week from one source (0,3229 according to Preev.com). It's not much, but it's nothing to scoff at if you can do it with a few clicks.

That's funny, I was gonna ask them the same question but forgot.  I don't people that say they can't be bothered to pick up the change.  Sure 70 cents isn't a lot for some people, but 70 cents is a lot of money to some, especially the homeless.

A lot of the time when I find change I'll throw it in one of the many donation boxes you see in stores.  Hell, throw it all in a bin at home and around Christmas donate to the food bank.

I like to earn. I never go for free money and the amount is very low. So I won't pick.

What 70 cents? 1500 satoshis = 0.000015 btc = 0.0057 USD at this moment.
I don't think that 0.57 cent is a lot of money, even to the poor and homeless...

Are you kidding me?  Not sure where you live, but even 70 cents goes a long way from eating to going hungry.  There are homeless people living on the streets of Vancouver and they appreciate even 25 cents.  As I mentioned in a previous post, it adds up.  Couple people give a homeless person 70 cents, thats a meal.

It's all perspective. What maybe nothing to you, can be a lot to another person.  Someone goes from having nothing to 70 cents, or even 50 cents, its better than having nothing.

As I said, that 1500 satoshi is not worth 70 cents, but it is just 0.57 cents.
The homeless people may appreciate 25 cents, but probably not so much for half a cent.

While the cents can add up, you will need to spend a lot on the transaction fee in the end, as DannyHamilton explained in post 40.

Fair enough, the topic got a little blurred comparing satoshis to actual coins. You're right, they are only worth 57 cents today, but they could be worth a lot more down the road. Which could change a lot of peoples opinions. 

Wait, there must be something wrong here, as you keep considering the value 100 times higher than I do.

We agree the bitcoin price is around 380 USD now, right?
And that 1500 satoshi is 0.000015 bitcoin, right?
And lastly, 1 USD = 100 cents, right?
If the answers to all three questions are "yes", it seems you have miscalculated the "satoshi coin" value 100 times higher.

It is dust after all.
People get worried when they find dust transactions delivered to their wallets.  ;)

I pick it if it happens once. Im not going to pick it all the time.

I'd have to pick them up knowing that they are a Finite supply, but i'm using a damn magnet to pick all those up

I had to come back today and look at this while not having beer in the system.  You're right, I read the 70 pennies in the other post and just went from there while not paying enough attention to the decimal points.  So yes, much of what I posted was misguided.

I'd likely still pick it up though, who knows what it could be worth down the road.

YES!!

If those are private keys for addresses with 1500 satoshi, I probably won't pick them up.
But if those are some physical coins, then I would pick them up to sell them as a collector's item.

If Bitcoin was real and can be touched..

Yes! I would definitely pick up that one cents (or less). I'm sure it will be very hard to find such as small value of coin..

Better than the 0.00000001 satoshi spam companies send you though lol

Yes, I would even pick up 1 cent.
Every satoshi in my wallet counts

Even though I understand it is worth very little, I will still pick it up because the effort to do so is negligible (while the return is negligible as well though). :P

Not likely. If someone could bend down and pick up pennies consistently all day, they could ideally make significantly above minimum wage. (very, very ideally)

Assume it takes you 3 seconds to bend down and pick up $.006 once you have a rhythm down. You'd collect $.12/minute or $7.20 per hour. This sounds crappy, but it's worth noting you'd really have no enforceable tax liability, so if you've already maxed out your EITC working a regular job for the year, this could be an exceptionally fantastic part-time job. Plus you get to pick your own hours and have no boss less Coinstar.

Sats are more difficult, though, since you'd probably want to sweep them (or organize a sendmany), which could add an extra few seconds to the process. -So now all we need is a street filled with kilosats. ETA: I guess if they're physical coins, no extra time's added since you could use the coins as-is.

ETA2: This would make for an interesting prison/labor camp. Instead of breaking rocks, just spread $50 in near-worthless coins on the ground for recess.

Duh!!!!!!!

Hell ya I would!

That's a very low amount but if it looked flashy like real coins,  I would.

That is an interesting analysis. But seriously if you repeatedly bend down once every 3 seconds (1200 times an hour), you will probably get into some serious pain and illness very soon. :P

If you were constantly picking up the 'coins' then you would likely not need to stand back up but would simply stay in the "down" position.

In your scenario, your $7.20 per hour would really be closer to $10 or $11 per hour if you are not paying taxes, which, IMO is pretty good considering that this would be a zero skill talk

Yeah. I was thinking I'd probably take a crouched-down position and waddle over to the next coin. :D

Why not? It's not like I would do anything useful with those 1,5 seconds
anyways. Probably wouldn't if I was in a rush though, but if not - sure.

Same here, I would bend down to take the coin as it is just going to cost me a few seconds at most.
Now the question is, when are you going to drop your bitcoin in front of me lol? :P

I probably would, I'm collecting all money I find on the street. I've got about 25$ for about 2-3 months, it's a nice pocket money. :D

defenitely yes. lol