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Author Topic: Satoshi should give away a good chunk of the 1.000.000 btc he has  (Read 3933 times)
relgub
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March 04, 2014, 08:50:51 AM
 #1

Having 1 million btc is a complete obscenity.

He should start giving them away somehow.

He is not the 1% but the 0.000001% Warren Buffet is broke compared to satoshi (talking about wealth percentage)

What do you think?
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porcupine87
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March 04, 2014, 09:13:49 AM
 #2

he should do nothing and just throw away the private keys (if he hasn't done yet). He should, in my own interest. But he has the right to do everything with his coins. Don't you think he earned it? (or they, I am pretty sure, Satoshi is a group of people)

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March 04, 2014, 09:20:12 AM
 #3

he donated them to all of us by never using them.

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jl2012
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March 04, 2014, 09:23:05 AM
 #4

What do you think?

None of your business. If you don't like it, just don't use it. Bitcoin is not a legal tender, you have the freedom to use it or not

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March 04, 2014, 09:34:35 AM
 #5

he should do nothing and just throw away the private keys (if he hasn't done yet). He should, in my own interest. But he has the right to do everything with his coins. Don't you think he earned it? (or they, I am pretty sure, Satoshi is a group of people)
will it always remain a mystery whether Satoshi is He or They and BTW why not She :p ..? Or someday someone will crack this mystery ..?

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Feri22
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March 04, 2014, 10:07:51 AM
 #6

Having 1 million btc is a complete obscenity.

He should start giving them away somehow.

He is not the 1% but the 0.000001% Warren Buffet is broke compared to satoshi (talking about wealth percentage)

What do you think?

No he shouldn't...

amspir
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March 04, 2014, 11:23:22 AM
 #7

Having 1 million btc is a complete obscenity.

He should start giving them away somehow.

He is not the 1% but the 0.000001% Warren Buffet is broke compared to satoshi (talking about wealth percentage)

What do you think?

A million btc is not worth what you think.   If a million BTC were to be sold or given away in a short period, it would crash the market -- devaluing bitcoin in general, and devaluing your own coins.   That would be an obscenity.   

If Satoshi is not into criminal money laundering or tax evasion, then his fiat capital gains will be taxed when they are converted into fiat in accordance with his local government's taxing authority and will be redistributed then.
bitvestor
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March 04, 2014, 11:30:22 AM
 #8

Having 1 million btc is a complete obscenity.

He should start giving them away somehow.

He is not the 1% but the 0.000001% Warren Buffet is broke compared to satoshi (talking about wealth percentage)

What do you think?

He earned it like everyother person, he never cheated the system like the govt did to print bill/ bitcoins. Bitcoin is a system where you have to work for it before you can have, so prolly he computer was at work during the founding process and we joined too, so its up to him to give out and moreover billgate has lots of cah will you ask him to give them out because he has so much?
tokeweed
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March 04, 2014, 11:30:46 AM
 #9

Having 1 million btc is a complete obscenity.

He should start giving them away somehow.

He is not the 1% but the 0.000001% Warren Buffet is broke compared to satoshi (talking about wealth percentage)

What do you think?

would you give it all away if you had it?

mateo
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March 04, 2014, 11:39:46 AM
 #10

Having 1 million btc is a complete obscenity.

He should start giving them away somehow.

He is not the 1% but the 0.000001% Warren Buffet is broke compared to satoshi (talking about wealth percentage)

What do you think?

A million btc is not worth what you think.   If a million BTC were to be sold or given away in a short period, it would crash the market -- devaluing bitcoin in general, and devaluing your own coins.   

Which is probably the point. If I had a million coins, there's no way in hell I would just give them away and neither would you, but it's bad for the supposedly decentralized Bitcoin in general, when one person/entity holds almost 10% of the entire supply and thus has the power to kill it for years.

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March 04, 2014, 11:45:00 AM
 #11

Having 1 million btc is a complete obscenity.

He should start giving them away somehow.

He is not the 1% but the 0.000001% Warren Buffet is broke compared to satoshi (talking about wealth percentage)

What do you think?

A million btc is not worth what you think.   If a million BTC were to be sold or given away in a short period, it would crash the market -- devaluing bitcoin in general, and devaluing your own coins.  

Which is probably the point. If I had a million coins, there's no way in hell I would just give them away and neither would you, but it's bad for the supposedly decentralized Bitcoin in general, when one person/entity holds almost 10% of the entire supply and thus has the power to kill it for years.
The creator(s) of bitcoin will let it grow and develop for years only to suddenly and anonymously "kill" (not what would actually happen) it years later?

Seems likely.

"It is dangerous to be right in matters where established men are wrong."                                         
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mateo
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March 04, 2014, 11:55:15 AM
 #12

Having 1 million btc is a complete obscenity.

He should start giving them away somehow.

He is not the 1% but the 0.000001% Warren Buffet is broke compared to satoshi (talking about wealth percentage)

What do you think?

A million btc is not worth what you think.   If a million BTC were to be sold or given away in a short period, it would crash the market -- devaluing bitcoin in general, and devaluing your own coins.  

Which is probably the point. If I had a million coins, there's no way in hell I would just give them away and neither would you, but it's bad for the supposedly decentralized Bitcoin in general, when one person/entity holds almost 10% of the entire supply and thus has the power to kill it for years.
The creator(s) of bitcoin will let it grow and develop for years only to suddenly and anonymously "kill" (not what would actually happen) it years later?

Seems likely.

Completely missed the point. I don't know what is he gonna do and neither do you. The problem is that he CAN do it.

amspir
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March 04, 2014, 01:42:51 PM
 #13

Which is probably the point. If I had a million coins, there's no way in hell I would just give them away and neither would you, but it's bad for the supposedly decentralized Bitcoin in general, when one person/entity holds almost 10% of the entire supply and thus has the power to kill it for years.

If I'm doing my math right, miners will mine what Satoshi allegedly holds in 278 days.  His share drops from 10% to 9%.  His power to "kill" bitcoin will degrade over time.



DobZombie
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March 04, 2014, 01:59:41 PM
 #14

Having 1 million btc is a complete obscenity.

He should start giving them away somehow.

He is not the 1% but the 0.000001% Warren Buffet is broke compared to satoshi (talking about wealth percentage)

What do you think?

would you give it all away if you had it?



I would probably donate a good chunk of it, or setup a foundation ( Bitcoin or charity). US$10,000,000 is more than enough to live a comfortable life, living off of interest.

I'd like to think not everyone on earth is a greedy pig.

On another note, if none of Satoshi's Bitcoins have been spent already, then the keys are probably lost and will never be spent.  Roll Eyes

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pozmu
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March 04, 2014, 02:03:00 PM
 #15

Having 1 million btc is a complete obscenity.

He should start giving them away somehow.

He is not the 1% but the 0.000001% Warren Buffet is broke compared to satoshi (talking about wealth percentage)

What do you think?

+1
But I don't think it will happen
Just read his early posts on mailing list - he knew/ was hoping what will happen from the very beggining that's why he decided to hold
I just hope he'll use his some of his BTC for good causes

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March 04, 2014, 02:08:06 PM
 #16

Having 1 million btc is a complete obscenity.

He should start giving them away somehow.

He is not the 1% but the 0.000001% Warren Buffet is broke compared to satoshi (talking about wealth percentage)

What do you think?
I agree, he is the invisible oligarch of bitcoin and this is a problem.
We could either abandon bitcoin for a better alt-coin, or inflate away the oligarchs holdings by increasing the bitcoin money supply by 1000 to max 21 billion coins so his coin only will be worth 1/1000 of today.

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vnvizow
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March 04, 2014, 02:21:20 PM
 #17

Ok, where did you guys get your sources? The guy(s) went silent since 2009.

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March 04, 2014, 02:31:50 PM
 #18

What do you think?

None of your business. If you don't like it, just don't use it. Bitcoin is not a legal tender, you have the freedom to use it or not
+1..... oops i meant +1million

Ok, where did you guys get your sources? The guy(s) went silent since 2009.

actually last post was only 3 weeks away from 2011...
https://bitcointalk.org/index.php?action=profile;u=3;sa=showPosts

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March 04, 2014, 02:39:16 PM
 #19

Hello! New to this forum but here's my thoughts.
If i was Satoshi i would do exactly the same thing, sit on the coins.
With current course it's worth 600-700,000,000$. That is shit load of money, but it will be much more in the future.
I think creating bitcoin is only the first step. Satoshi is a believer in bitcoin(ideology), and he probably sees the price hitting anything between 10,000-50,000$ in future. Now we're talking about real POWER. You can bring down goverments(or help them), raise armies, help scientific developement or do pretty much anything you want.
I'd like to think that the money will be used to make the world better place.
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March 04, 2014, 02:45:00 PM
 #20

Ok, where did you guys get your sources? The guy(s) went silent since 2009.

actually last post was only 3 weeks away from 2011...
https://bitcointalk.org/index.php?action=profile;u=3;sa=showPosts

Either way I rest my case

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