Bitcoin Forum
May 25, 2024, 02:46:21 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Bitcoin Forum > Economy > Economics > Speculation > How much would the genesis block coins be worth?
Pages: [1]
« previous topic next topic »
  Print  
Author Topic: How much would the genesis block coins be worth?  (Read 794 times)
shmadz (OP)
Legendary
*
Offline Offline

Activity: 1512
Merit: 1000


@theshmadz


View Profile
April 23, 2014, 01:07:05 AM
 #1
Premise:

We speculate all the time about the price of bitcoin, assuming that when we withdraw our bitcoins they will be worth the same as any other bitcoins, because we expect them to be completely fungible.
I think we all agree that bitcoin should be fungible, but I'm not sure that it's even possible.


Thought experiment:

If Satoshi were to auction off 50 lots of 1.00000000 bitcoin each that would be sent directly from the genesis block, how much do you think they would go for?



Extra credit:

How much if the winners of the auction could meet Satoshi and be in the room when he makes the transaction?
"You have no moral right to rule us, nor do you possess any methods of enforcement that we have reason to fear." - John Perry Barlow, 1996
zoinky
Hero Member
*****
Offline Offline

Activity: 811
Merit: 1000


Web Developer


View Profile
April 23, 2014, 01:23:19 AM
 #2
I'm pretty sure the genesis coins are unspendable.
shmadz (OP)
Legendary
*
Offline Offline

Activity: 1512
Merit: 1000


@theshmadz


View Profile
April 23, 2014, 01:38:32 AM
 #3
Quote from: zoinky on April 23, 2014, 01:23:19 AM
I'm pretty sure the genesis coins are unspendable.

wha, wha, what??!!?

 Cry
"You have no moral right to rule us, nor do you possess any methods of enforcement that we have reason to fear." - John Perry Barlow, 1996
master-P
Hero Member
*****
Offline Offline

Activity: 868
Merit: 1001


https://keybase.io/masterp FREE Escrow Service


View Profile WWW
April 23, 2014, 01:46:50 AM
 #4
It's true, they can't be spent.
Master-P's Free Escrow Service | 1% Fee for Multi-Party/Sig Campaigns | I Sign ALL of my addresses using PGP Key: https://keybase.io/masterp Verify ✔
Tipping Address: 14PUWBwK854GLenxSa7MAuxXQUXK4DKKi5 | E-mail: masterp.bitcointalk {at} gmail {dot} com (for when/if the forum's offline)
Guide on How to Sign a Message
shmadz (OP)
Legendary
*
Offline Offline

Activity: 1512
Merit: 1000


@theshmadz


View Profile
April 23, 2014, 01:52:13 AM
 #5
Quote from: master-P on April 23, 2014, 01:46:50 AM
It's true, they can't be spent.

So sad.

if they can't be spent can you still sign a message with the private key that generated them?
"You have no moral right to rule us, nor do you possess any methods of enforcement that we have reason to fear." - John Perry Barlow, 1996
Pages: [1]
  Print  
Bitcoin Forum > Economy > Economics > Speculation > How much would the genesis block coins be worth?
 « previous topic next topic »
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!