Satoshi Airdrops 1 Million BTC to the Poor

[hv_]

According to what one of the goals of bitcoin should be - decentralize also the wealth, do you think that's happening?

Maybe based on breaking some threashold by price, marked cap or account number ?

I'd do that :-)

Interesting idea, really
But, before you decentralize the wealth, you have to decentralize knowledge, technology, provide some normal living conditions to everybody, give education etc.
It's really huge task and I don't think that bitcoin community or even Satoshi can do this.
It's responsibility of others, offline community first.

Thanks - but normally  I found out  ,for most of my ideas, already somebody else had the same before me   .... I hope I'm really late with that idea again and all was nicely planned long time ago  :-)

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[damiano]

That is of course great for someone to say who doesn't have over 500k Bitcoins or probably even much at stake. Lets look at the facts shall we? You drop 500+k Bitcoins on the poor then my last few years investing taking risks and saving will be for nothing because the price will be destroyed for both us and the poor.

I am not saying don't help the poor because they need it but how about many give some profits and give the poor the tools to help themselves. The wealth of Bitcoin is obviously in fewer hands than preferable but that is the way of the world, the smart will always end up with more because a lot of the time they work for it.

[tiggytomb]

That's a nice idea and it really would have been something if that was a secret plan with some super secret code but it is highly unlikely.

[saddampbuh]

so they can cash out and crash the price? i dont think so

[hv_]

That's a nice idea and it really would have been something if that was a secret plan with some super secret code but it is highly unlikely.

I like the idea of rar events - read anti fragile from Nassim Taleb.

[Herbert2020]

i think it is a great idea and also a grand gesture by satoshi.

but i don't think that now is the time to do it. because as others have pointed out bitcoin market is so fragile and if the movement as big as satoshi's coin movement occurs it is going to create mass panic on top of the sell pressure it creates.
the time is in a couple of years that market is more stable and bitcoin is adopted by more businesses.

[hv_]

That is of course great for someone to say who doesn't have over 500k Bitcoins or probably even much at stake. Lets look at the facts shall we? You drop 500+k Bitcoins on the poor then my last few years investing taking risks and saving will be for nothing because the price will be destroyed for both us and the poor.

I am not saying don't help the poor because they need it but how about many give some profits and give the poor the tools to help themselves. The wealth of Bitcoin is obviously in fewer hands than preferable but that is the way of the world, the smart will always end up with more because a lot of the time they work for it.

I'm not thinking of a very plump dump. And yes I was educated same - first work - than pleasure - but I live in a rich env.

But think of the very poorest first (extrem thinking is good). They mostly do not have any 'work' - and normally very poor currency & economic env.
But now with access to internet, they can get a 'start - up' investment for their local (and also global) economy and have a more stable
currency than the local one -> I do not think all is cashed out at once, but rather it will be used as money and you'll see the opposite.

So ideally it should be donated to a handful of regional tribe chaps in order to initiate local usage - not cash out (do not expect an exchange as well).

[fenican]

Terrible idea - the coins would immediately be converted to fiat and the price would crash.

Would be MUCH better to just destroy the coins by sending them to an address with no known private key. That would benefit the whole community not some random group of "lotto winners". Think about it - why should some random group who have made ZERO investment in BTC benefit from the technology?

[monsanto]

Or maybe one day he just "airdrops" his 1 million bitcoins onto all the exchanges, selling them to the "poor" bag holders with buy orders as the price crashes to zero 

[hv_]

Or maybe one day he just "airdrops" his 1 million bitcoins onto all the exchanges, selling them to the "poor" bag holders with buy orders as the price crashes to zero 

Yes - brilliant minded like Satoshi  would exactly do this .....

[jyakulis]

It always amazes me how people give away other people's money so easily.

It's the give a person a fish vs teaching them to fish argument.

[randy8777]

nah, can't see him do such a thing assuming he still has access to his coins. i also wouldn't do it. i hope at some point he can nicely enjoy the value of his coins with some hot girls.

[hv_]

It always amazes me how people give away other people's money so easily.

It's the give a person a fish vs teaching them to fish argument.

Very good bringing up that fish here! I remember some part in the Bible where Jesus gave us some fish for free (correct me if I'm wrong).

But that was only more the hook to get us to believe (worked not bad).

So turn that into Satoshi  & Bitcoin and you need no more help...

 

[hv_]

nah, can't see him do such a thing assuming he still has access to his coins. i also wouldn't do it. i hope at some point he can nicely enjoy the value of his coins with some hot girls.

hihi - if those girls are belonging to the poorest and get children & wallets - go ahead!

[monsanto]

Or maybe one day he just "airdrops" his 1 million bitcoins onto all the exchanges, selling them to the "poor" bag holders with buy orders as the price crashes to zero 

Yes - brilliant minded like Satoshi  would exactly do this .....

Well it would go down as one of the greatest long con scams in history. Brilliant part is it'd be perfectly legal.

[jyakulis]

It always amazes me how people give away other people's money so easily.

It's the give a person a fish vs teaching them to fish argument.

Very good bringing up that fish here! I remember some part in the Bible where Jesus gave us some fish for free (correct me if I'm wrong).

But that was only more the hook to get us to believe (worked not bad).

So turn that into Satoshi  & Bitcoin and you need no more help...

 

It ended with execution...

[hv_]

It always amazes me how people give away other people's money so easily.

It's the give a person a fish vs teaching them to fish argument.

Very good bringing up that fish here! I remember some part in the Bible where Jesus gave us some fish for free (correct me if I'm wrong).

But that was only more the hook to get us to believe (worked not bad).

So turn that into Satoshi  & Bitcoin and you need no more help...

 

It ended with execution...

Sure - Jesus 'went' away - and suprisingly came back, convincing the skeptic ...

[maokoto]

It would be good if something like that happened, but I see a problem: people who are really poor do not own an smartphone or any other means to get their BTC in. In fact, if they get say 1BTC each, that would barely pay the smartphone costs.

[talkbitcoin]

this is a great idea but satoshi have left bitcoin long time ago and we have no way of knowing if he even has the private keys to his massive stash of bitcoin.

[damiano]

That is of course great for someone to say who doesn't have over 500k Bitcoins or probably even much at stake. Lets look at the facts shall we? You drop 500+k Bitcoins on the poor then my last few years investing taking risks and saving will be for nothing because the price will be destroyed for both us and the poor.

I am not saying don't help the poor because they need it but how about many give some profits and give the poor the tools to help themselves. The wealth of Bitcoin is obviously in fewer hands than preferable but that is the way of the world, the smart will always end up with more because a lot of the time they work for it.

I'm not thinking of a very plump dump. And yes I was educated same - first work - than pleasure - but I live in a rich env.

But think of the very poorest first (extrem thinking is good). They mostly do not have any 'work' - and normally very poor currency & economic env.
But now with access to internet, they can get a 'start - up' investment for their local (and also global) economy and have a more stable
currency than the local one -> I do not think all is cashed out at once, but rather it will be used as money and you'll see the opposite.

So ideally it should be donated to a handful of regional tribe chaps in order to initiate local usage - not cash out (do not expect an exchange as well).

It doesn't matter what you're thinking but matters what will happen. If possible they will dump the Bitcoins into oblivion, why? Because they could not care less about it all they want is food/water etc. I'm sorry to burst your slightly delusional bubble but it is never going to create a stable currency because the currency is manipulated to begin with added to the frenzy of trying to dump to get the foods to survive it will be crazy and the opposite to stable pal.

Again of course they will cash out immediately it would be naive to think any different. Decentralized but donated to the few? That statement is to contradicting as it is clearly centralizing it into a few hands instead of the many. Corruption is extreme in the countries you speak of in case you never knew.