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Author Topic: Satoshi should give away a good chunk of the 1.000.000 btc he has  (Read 5309 times)
DeathAndTaxes
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March 06, 2014, 09:59:36 PM
 #61

I vote for raising the block reward from 25 coins to 25,000 coins in order to inflate the value of the coins from preminers and thieves.

Good thing there is no voting in a consensus system.   You can fork Bitcoin, it would be trivial.  So why don't you do it?
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"The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime." -- Satoshi
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March 06, 2014, 10:01:27 PM
 #62

I vote for raising the block reward from 25 coins to 25,000 coins in order to inflate the value of the coins from preminers and thieves.
You get my vote for the dumbest person of 2014.

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March 06, 2014, 10:05:22 PM
 #63

I vote for raising the block reward from 25 coins to 25,000 coins in order to inflate the value of the coins from preminers and thieves.
You get my vote for the dumbest person of 2014.
Satoshi could have prevented such measure by giving each coin a vote (Proof of Stake), but instead each client and miner has a vote which is possible to manipulate, aka 51% attack.
Performing a 51% attack to change the protocol of bitcoin is not easy, but possible if Federal Reserve would like to control the monetary policy of bitcoin Smiley
They just have to invest a few hundred million dollars in mining equipment.
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March 06, 2014, 10:14:19 PM
 #64

I vote for raising the block reward from 25 coins to 25,000 coins in order to inflate the value of the coins from preminers and thieves.
You get my vote for the dumbest person of 2014.
Satoshi could have prevented such measure by giving each coin a vote (Proof of Stake), but instead each client and miner has a vote which is possible to manipulate, aka 51% attack.
Performing a 51% attack to change the protocol of bitcoin is not easy, but possible if Federal Reserve would like to control the monetary policy of bitcoin Smiley
They just have to invest a few hundred million dollars in mining equipment.

51% of hashing power wont allow you to change block reward (nor will 90% of hashing power or 99% of hashing power).
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March 06, 2014, 10:16:44 PM
 #65

Best would be for him to wait a few years more and then help finance 3rd world country projects.

If I had a million I would build an organization for this.




Donate BTC:18Ks86M2q5JEzkuyw2hT4JhCdNzhudXxzq
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March 06, 2014, 10:16:50 PM
 #66

Satoshi could have prevented such measure by giving each coin a vote (Proof of Stake), but instead each client and miner has a vote which is possible to manipulate, aka 51% attack.
Performing a 51% attack to change the protocol of bitcoin is not easy, but possible if Federal Reserve would like to control the monetary policy of bitcoin Smiley
They just have to invest a few hundred million dollars in mining equipment.

51% of hashing power wont allow you to change block reward (nor will 90% of hashing power or 99% of hashing power).
Exactly.
Besides, many altcoins recovered many times after a 51%, there is no reason why bitcoin can't do the same.

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March 12, 2014, 03:17:04 AM
 #67

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

Who knows what evil lurks behind those quiet blocks.  Shocked
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March 12, 2014, 03:49:13 AM
 #68

He will use them to quietly curb deflation...
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March 12, 2014, 07:32:38 AM
 #69

If he sold all of them, he would be so rich.
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March 12, 2014, 09:42:44 AM
 #70

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

I don't know what you're basing that on.

I have files which I've been moving from computer to computer going back 12-15 years and I've never lost any of them.
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March 12, 2014, 10:13:00 AM
 #71

If I had one million Bitcoin, I would divide the amount in 3 equal portions. I would convert one third to fiat money, the second third would be used for expanding Bitcoin by means of charities, and the last third would be stored for unknown future purposes, like stabilising its value.
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March 12, 2014, 02:17:58 PM
 #72

Who cares about how many BTC he has, and how he should spend them, that's nobody's business.
colinistheman
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March 12, 2014, 02:20:59 PM
 #73

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

It's his call to do what he wants. He created the system and we're debating what he should do with his own money on his own system? Disrespectful.

Maybe we should discuss what the OP should do with the money in his personal checking and savings accounts.
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March 12, 2014, 02:39:54 PM
 #74

This I wrote some time ago about this topic! It´s a very interesting idea.

https://bitcointalk.org/index.php?topic=292702.0

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March 12, 2014, 02:44:55 PM
 #75

This I wrote some time ago about this topic! It´s a very interesting idea.

https://bitcointalk.org/index.php?topic=292702.0


Agree, really nice idea!

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