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Author Topic: Satoshi Nakamoto, here's an idea for you (if you are still out there):  (Read 546 times)
CRYPTORALF (OP)
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October 29, 2019, 03:35:38 PM
 #1


You are the genius behind Bitcoin and Blockchain or, to be more precise, behind its technological birth.

You could also be the genius behind its worldwide adoption. How?

By giving 10,000 Satoshi to every living human being on earth. Implementing this might be challening, but less so for a genius like you (I thought of an encrypted database where people can register with personal details, a means of identification and a Bitcoin address, allowing the Satoshi to be sent to them automatically and once only; but this is only a first idea and others might have better ideas). 

Either way... If every human registered and registered only once (of course, this is unrealistic), you would still own enough bitcoin to be (rightfully) a rich man / woman / group - and you would have secured your place in our history books not only for giving Bitcoin to humanity, but also for giving it to every single human being.

Ideas & critical responses are more than welcome! Moreover: Sorry if this idea has already been posted on the forum (a quick search didn't lead to any similar discussions).
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October 29, 2019, 04:18:57 PM
 #2

I don't understand how giving out 10k satoshi to every human being in the world would fuel adoption.

Unless we have merchants that accepts bitcoin, those 10k satoshis will only lie idle in their wallets. It would just increase the numbers of bitcoin wallets but not actual adoption. Actual adoption will happen once people start using it as a currency. Free money would never going to solve any problem neither it would fuel adoption!

Regulation and legalization are the only way for holistic adoption growth!

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October 29, 2019, 04:42:19 PM
 #3

My father would never do something like this.    Wink
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October 29, 2019, 04:45:01 PM
 #4

It's called mining.

Sending two dusts to everyone is just going to clog up the network. Even if it's a one time UBI (send to all?) that's not really something he'll do.

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October 29, 2019, 04:46:52 PM
 #5


You are the genius behind Bitcoin and Blockchain or, to be more precise, behind its technological birth.

You could also be the genius behind its worldwide adoption. How?

By giving 10,000 Satoshi to every living human being on earth. Implementing this might be challening, but less so for a genius like you (I thought of an encrypted database where people can register with personal details, a means of identification and a Bitcoin address, allowing the Satoshi to be sent to them automatically and once only; but this is only a first idea and others might have better ideas).  

Either way... If every human registered and registered only once (of course, this is unrealistic), you would still own enough bitcoin to be (rightfully) a rich man / woman / group - and you would have secured your place in our history books not only for giving Bitcoin to humanity, but also for giving it to every single human being.

Ideas & critical responses are more than welcome! Moreover: Sorry if this idea has already been posted on the forum (a quick search didn't lead to any similar discussions).

Sounds like you begging for a handout. I really don't think Satoshi is around anymore unless he's lurking the forum. I seriously doubt he ever comes back around, it would take away from the mysterium and legacy he's left (assuming it's just one guy). He already made the project open source, what more could you ask for?
 

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October 29, 2019, 04:51:47 PM
 #6


You are the genius behind Bitcoin and Blockchain or, to be more precise, behind its technological birth.

You could also be the genius behind its worldwide adoption. How?

By giving 10,000 Satoshi to every living human being on earth. Implementing this might be challening, but less so for a genius like you (I thought of an encrypted database where people can register with personal details, a means of identification and a Bitcoin address, allowing the Satoshi to be sent to them automatically and once only; but this is only a first idea and others might have better ideas). 

Either way... If every human registered and registered only once (of course, this is unrealistic), you would still own enough bitcoin to be (rightfully) a rich man / woman / group - and you would have secured your place in our history books not only for giving Bitcoin to humanity, but also for giving it to every single human being.

Ideas & critical responses are more than welcome! Moreover: Sorry if this idea has already been posted on the forum (a quick search didn't lead to any similar discussions).

But we still don't know if he is still around or he has access to his wallet, or he is in an isolated place and out of touch, granted if he will give each one 10000 satoshis but if they do not how to use it and how it works, it's still useless, adoption begins when we are all educated in how Bitcoin works and it's purpose to humanity, adoption begins in education when it comes to Bitcoin and blockchain.

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October 29, 2019, 04:55:23 PM
 #7

2 TB = 2,000,000,000,000 Bytes of transaction data

We need better layer 2 or layer 3 or Bitcoin 2.0.

I couldn't help noticing that Satoshi announced that "he had moved on to other things" on two different occasions.

What do you think these other things could be? From the context, it sounds these things are unrelated to Bitcoin. Maybe he was working on other projects where programming skills were needed.
This can also be interpreted as Satoshi being more or less satisfied with the development of Bitcoin and confident in its intended future.
CRYPTORALF (OP)
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October 29, 2019, 05:10:55 PM
 #8

Ah... sure, we would have to wait for the lightning network or other updates to be fully operational!
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October 29, 2019, 05:11:45 PM
 #9

You know what would most likely happen if Satoshi does do this(assuming 2nd/3rd layer solutions are ready)? Yep, majority would simply just see free money and dump the sats they received for filthy fiat once the 10k sats reaches a point of it actually being worth a significant amount for them to actually spend some time in learning how to sell it. It probably could help in theory, but it's really not something significant in my opinion.

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October 29, 2019, 05:13:17 PM
 #10

By giving 10,000 Satoshi to every living human being on earth.
That's 750,000 BTC. Who's to say Satoshi even owns that much BTC, and if he does, why should he give it all away for nothing? Why don't you lead by example and convert all your money to BTC and give it away too?

I thought of an encrypted database where people can register with personal details, a means of identification and a Bitcoin address, allowing the Satoshi to be sent to them automatically and once only
A global KYC database? Not only is that completely against the very principles bitcoin was founded on, I am struggling to think of something which would be a bigger target for both hackers and governments to break in to.

and you would have secured your place in our history books not only for giving Bitcoin to humanity, but also for giving it to every single human being.
Satoshi is already firmly in the history books, no worries there.

I don't understand how giving out 10k satoshi to every human being in the world would fuel adoption.
It wouldn't. 10,000 sats is less than a single dollar. All this would achieve (if it was even achievable, which it isn't) is create billions of useless transactions and dust outputs which would have to be consolidated, and clog the mempool to high heaven.
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October 29, 2019, 05:50:25 PM
 #11

That is a pretty useless idea. Those 10K sats that will be distributed will not be put in good use and worse, will be included in the statistics for lost bitcoin because owners will probably not care about what they received and will lose the private keys eventually. And the idea of having a worldwide KYC is very frightening.

By giving 10,000 Satoshi to every living human being on earth.
That's 750,000 BTC. Who's to say Satoshi even owns that much BTC,

I think he does. It is estimated that he owns 980K bitcoins.
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October 29, 2019, 05:51:09 PM
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 #12

10k=0.00010000
10thousand people=1btc
10bill people=1mill btc .. so ya i can undrestand the maths of 'why 10k'

but here is a few issues
1. btc is limited to 600k transactions a day
not due to technical limitations, but core dev politics
even if he moved the funds just once. it would take 16thousand days(45 years) just to move the funds once to individual keys
and thats without accounting for regular use by people moving funds around
thats 90 years total. once to claim(45). once to spend(45)

2.linking addresses to personal details / identity...
lets forget the privacy/anonimity argument as that in itself is self explanitory a bad idea. but have you ever heard of proxy voting,  identity theft, fake ID... you know where someone else claims to be someone for gain..
yes it happens if people were told they were getting free funds and all they had to do is supply an ID. scammers would be rich

3. satoshis funds are not stored on some single key, they are distiributed on ~20,000 keys spread over 2 years of using bitcoin. so dont even bother thinking he will just spend all the coins in one go. infact with people knowing they only have 1 chance in 45 years to spend the funds with the current core limitations inplace. people are more then likely to cause a price stampede to sell as quickly as they can before the price tanks too much

4. and after the mass sell off. then what. 90 years have passed where the only purpose of btc was to sell it for pennies to gain just a little bit of fiat. yes i said pennies because the flood of coins would just end up in the hands of corporate exchanges that have peoples ID's
and even when people think they have gained some fiat. the corporate exchanges will send that info to tax offices and them people will end up paying tax on it. thus end up in many cases worse than when they started

sorry but this topic has too many flaws.

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October 29, 2019, 06:01:20 PM
 #13

How do send 10,000 satoshi to everyone who lives on earth? your idea doesn't make sense to a genius like satoshi. Rather than hoping is better provide the technological development that he created. From my point of view the blockchain still has many weaknesses, we can say the fee is expensive because the value is also expensive. how do we create a P2P platform with some benefits inside, such as creating private network.

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CRYPTORALF (OP)
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October 29, 2019, 06:05:46 PM
 #14

I don't understand how giving out 10k satoshi to every human being in the world would fuel adoption.


If more people own Satoshi, it's more valuable for merchants, product developers, etc. to enter the market. Don't you think?
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October 29, 2019, 06:11:15 PM
 #15

The idea is a good one as people would get interested and open up a bitcoin wallet just to get an airdrop of about a dollar. Everyone loves free money.
And as they get used to using bitcoin and have an idea about it's future, it would certainly increase the adoption.
But I don't think that would even be possible for a coin as decentralized as bitcoin. Even satoshi can't force anyone to go through it unless we have a huge consensus.

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October 29, 2019, 06:12:16 PM
 #16

I think the OP idea is to be viewed more like an inspiration for the community to contribute to the adoption of Bitcoin. If every man on this world would have been announced that they have received soemthing for free, they would definitely at least check it out and see what it is about. This way I'm sure at least a part of them would find Bitcoin and the blockchain technology revolutionary and try to accumulate as much as possible.
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October 29, 2019, 06:24:32 PM
 #17


one person wan't even be satisfied with 100,000 BTC, i don't think a kid will ever be satisfied with 10K satoshi. satoshi had become a hero already. he will be curse for giving out just 10k satoshi to everyone. he'd rather stay undisturbed right now just chilling where ever he may be.  for all humans who wants to have 10k satoshis in the btc wallet, there are more altcoins than BTC, i'm sure you can get more than 10k satoshi out of the altcoins you can gather by joining campaigns.

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October 29, 2019, 06:30:01 PM
 #18

thanks for all the serious responses and pointing out the many flaws in my thinking (privacy issues, transaction speed, etc.).
for those saying something blunt along the line of "useless idea": don't be a smartass. there's nothing like a useless idea. rather use this "useless idea" to present a better one (that will help to adopt cryptocurrencies globally).
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October 29, 2019, 06:36:06 PM
 #19

I kinda do see your knowledge here with giving people free money, people getting free crypto would be people that are interested and such a huge event and some free funds might help with the decision.

The biggest problem here is privacy, even if it was Satoshi who created a KYC portal, Bitcoin's purest concepts are based on privacy and the creator just asking for your ID isn't the best gateway into crypto-currencies.

For KYC, someone will end up with your information, either a company working with Satoshi or himself, and I doubt newcomers would give away their ID for a couple cents.

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October 29, 2019, 06:37:24 PM
 #20

I kinda do see your knowledge here with giving people free money, people getting free crypto would be people that are interested and such a huge event and some free funds might help with the decision.

The biggest problem here is privacy, even if it was Satoshi who created a KYC portal, Bitcoin's purest concepts are based on privacy and the creator just asking for your ID isn't the best gateway into crypto-currencies.

For KYC, someone will end up with your information, either a company working with Satoshi or himself, and I doubt newcomers would give away their ID for a couple cents.

Would there be a solution to achieve this without KYC?
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