Should Satoshi's coins be deleted?

[fartbags]

If there was a way to get rid of satoshi's coins. Should they be deleted?

[fartbags]

I think yes, a 21% instamine is ridiculous. It gives a bad name to BTC.

I would want to give them to Mark Zuckerberg and have him distribute them on facebook.

[virtualx]

There are ways to get rid of satoshi's coins. Should they be deleted?

What do you mean by delete?  There is no delete or copy on the bitcoin blockchain. The blockchain is not a file system.
They can be moved by anyone who has the private keys.

[Wonka]

If there was a way to get rid of satoshi's coins. Should they be deleted?

No, but there would be a way unless someone had access to them or satoshi had lost access to them whether by accident on purpose. I guess them all coming onto the market at once would cause a crash but I don't think satoshi would do that.

[shorena]

There are ways to get rid of satoshi's coins. Should they be deleted?

What do you mean by delete?  There is no delete or copy on the bitcoin blockchain. The blockchain is not a file system.
They can be moved by anyone who has the private keys.

They could be send to an address that has no known private key associated with it.
like http://blockexplorer.com/address/1BitcoinEaterAddressDontSendf59kuE

I dont think it makes any difference whether they are not used or send to another address that no one currently can use.

[fartbags]

There are ways to get rid of satoshi's coins. Should they be deleted?

What do you mean by delete?  There is no delete or copy on the bitcoin blockchain. The blockchain is not a file system.
They can be moved by anyone who has the private keys.

There are always ways. You could hard fork the code to allow for just those coins to be sent to a different address without the private keys. You could create a new blockchain or a modified blockchain that all users must update to.

Obviously it's not going to happen. But I want to see it happen. Especially if all of those BTC were distributed to facebook users and there was a BTC wallet included in the facebook app.

Satoshi's 21% of coins is the biggest problem with BTC for me.

[Wilikon]

There are ways to get rid of satoshi's coins. Should they be deleted?

What do you mean by delete?  There is no delete or copy on the bitcoin blockchain. The blockchain is not a file system.
They can be moved by anyone who has the private keys.

There are always ways. You could hard fork the code to allow for just those coins to be sent to a different address without the private keys. You could create a new blockchain or a modified blockchain that all users must update to.

Obviously it's not going to happen. But I want to see it happen. Especially if all of those BTC were distributed to facebook users and there was a BTC wallet included in the facebook app.

Satoshi's 21% of coins is the biggest problem with BTC for me.

Facebook is a much worse problem to me. At least send satoshi coins to the Winklevoss Twins.

 

[TheButterZone]

I thought "Satoshi's coins" were unspendable even if he A) was still alive B) had the original wallet.

[shorena]

I thought "Satoshi's coins" were unspendable even if he A) was still alive B) had the original wallet.

Only the 50 BTC from the genesis block are unspendable. Considering that Satoshi mined several blocks there should be plenty more available.

[Eastfist]

LOL. OP is a troll. Imagine how public would perceive this: all the Bitcoiners gang-up and delete Satoshi's bitcoins. Thus the 51% attack took effect. Thus Bitcoin failed. Satoshi wasn't Julius Caesar, but Brutus and his gang sure stabbed him in the back to death. Y'know, that's at least how it would be perceived.

But, to be technical, OF COURSE it can be done. It's binary data in the end. Doesn't mean it will look good for Bitcoin in the big picture.

[Beliathon]

If there was a way to get rid of satoshi's coins. Should they be deleted?

You can "destroy" (the value of) Satoshi's btc right now, all you have to do is convince 51% of the mining community to adopt your hard fork.

Good luck, champ.  

[bandana]

no we cannt delete them as because we don't even know how to make them....after so many years also we are unable to know that how to make a bitcoin we just know that these are minable and we can mine it from the network with the help of a power consuming box called mining riges

[TheGr33k]

I thought "Satoshi's coins" were unspendable even if he A) was still alive B) had the original wallet.

Only the 50 BTC from the genesis block are unspendable. Considering that Satoshi mined several blocks there should be plenty more available.

there where 70+ blocks mined before Hal mined any (from my knowledge) plus there are plenty more blocks after that which are thought to be his aswell (I think)

[manselr]

I think yes, a 21% instamine is ridiculous. It gives a bad name to BTC.

I would want to give them to Mark Zuckerberg and have him distribute them on facebook.

No, we can't "delete" the coins, how are you supossed to do that? plus that would fuck up the history of the blockchain. And why would you want togive them to Zuckerberg? he would probably dump them for USD lol.

[DannyHamilton]

I think yes, a 21% instamine is ridiculous. It gives a bad name to BTC.
- snip -

That's just a bunch of FUD.

There was NO "instamine" in bitcoin.  Saying so is simply a fear tactic from those that want to convince others not to trust bitcoin.

There is no clear answer as to exactly how many bitcoins Satoshi has mined.  Any number you've heard is nothing more than an educated guess.  The most likely estimates I've seen are somewhere around 1 million.  Even if he actually has control over 1 million bitcoins, that's only 7.1% of the bitcoins that have been mined so far (and only 4.8% of all the bitcoins that will ever be mined).  In order to have 21% "instamine", he'd have to have control over nearly 4.5 million bitcoins.  I haven't seen any analysis that would lead to such a ridiculous claim.

[Eastfist]

I think yes, a 21% instamine is ridiculous. It gives a bad name to BTC.
- snip -

That's just a bunch of FUD.

There was NO "instamine" in bitcoin.  Saying so is simply a fear tactic from those that want to convince others not to trust bitcoin.

There is no clear answer as to exactly how many bitcoins Satoshi has mined.  Any number you've heard is nothing more than an educated guess.  The most likely estimates I've seen are somewhere around 1 million.  Even if he actually has control over 1 million bitcoins, that's only 7.1% of the bitcoins that have been mined so far (and only 4.8% of all the bitcoins that will ever be mined).  In order to have 21% "instamine", he'd have to have control over nearly 4.5 million bitcoins.  I haven't seen any analysis that would lead to such a ridiculous claim.

Yeah, there's no such thing as an "insta-mine". Every bitcoin was minted with an algorithm, that's what "proof of work" is all about. I think people get really riled up that Satoshi could "make magic money out of thin air" but they don't realize it's their own greed doing the talking for them, that Satoshi didn't sprinkle-dust some money for them, too.

[Lauda]

That's just a bunch of FUD.

There was NO "instamine" in bitcoin.  Saying so is simply a fear tactic from those that want to convince others not to trust bitcoin.

There is no clear answer as to exactly how many bitcoins Satoshi has mined.  Any number you've heard is nothing more than an educated guess.  The most likely estimates I've seen are somewhere around 1 million.  Even if he actually has control over 1 million bitcoins, that's only 7.1% of the bitcoins that have been mined so far (and only 4.8% of all the bitcoins that will ever be mined).  In order to have 21% "instamine", he'd have to have control over nearly 4.5 million bitcoins.  I haven't seen any analysis that would lead to such a ridiculous claim.

Yeah, there's no such thing as an "insta-mine". Every bitcoin was minted with an algorithm, that's what "proof of work" is all about. I think people get really riled up that Satoshi could "make magic money out of thin air" but they don't realize it's their own greed doing the talking for them, that Satoshi didn't sprinkle-dust some money for them, too.

This is wrong. You need to look up what "instamine" means, but in any case this is not what happened. One can't blame Satoshi because you didn't find his work in time and even if you did you didn't start mining.
If we were to delete his coins that would look bad because it would show that the developers could effectively make someone go from rich to broke.
Satoshi's coins shouldn't be touched and this discussion should be ended forever.

[Snail2]

Babling about instamine is quite stupid thing as in that time there were very few ppl to mine and keep the blockchain running.

[Eastfist]

That's just a bunch of FUD.

There was NO "instamine" in bitcoin.  Saying so is simply a fear tactic from those that want to convince others not to trust bitcoin.

There is no clear answer as to exactly how many bitcoins Satoshi has mined.  Any number you've heard is nothing more than an educated guess.  The most likely estimates I've seen are somewhere around 1 million.  Even if he actually has control over 1 million bitcoins, that's only 7.1% of the bitcoins that have been mined so far (and only 4.8% of all the bitcoins that will ever be mined).  In order to have 21% "instamine", he'd have to have control over nearly 4.5 million bitcoins.  I haven't seen any analysis that would lead to such a ridiculous claim.

Yeah, there's no such thing as an "insta-mine". Every bitcoin was minted with an algorithm, that's what "proof of work" is all about. I think people get really riled up that Satoshi could "make magic money out of thin air" but they don't realize it's their own greed doing the talking for them, that Satoshi didn't sprinkle-dust some money for them, too.

This is wrong. You need to look up what "instamine" means, but in any case this is not what happened. One can't blame Satoshi because you didn't find his work in time and even if you did you didn't start mining.
If we were to delete his coins that would look bad because it would show that the developers could effectively make someone go from rich to broke.
Satoshi's coins shouldn't be touched and this discussion should be ended forever.

LOL. I know what I'm talking about. Trust me.

[bensam12345]

Why do you want to do this? seriously, what vendetta do you have against Satoshi, let him have his Bitcoins, how will it be if i just deleted your Bitcoins lol, let Satoshi have what is his.