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Author Topic: How much would the genesis block coins be worth?  (Read 783 times)
shmadz
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April 23, 2014, 01:07:05 AM
 #1

Premise:

We speculate all the time about the price of bitcoin, assuming that when we withdraw our bitcoins they will be worth the same as any other bitcoins, because we expect them to be completely fungible.
I think we all agree that bitcoin should be fungible, but I'm not sure that it's even possible.


Thought experiment:

If Satoshi were to auction off 50 lots of 1.00000000 bitcoin each that would be sent directly from the genesis block, how much do you think they would go for?



Extra credit:

How much if the winners of the auction could meet Satoshi and be in the room when he makes the transaction?


"You have no moral right to rule us, nor do you possess any methods of enforcement that we have reason to fear." - John Perry Barlow, 1996
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zoinky
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April 23, 2014, 01:23:19 AM
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I'm pretty sure the genesis coins are unspendable.
shmadz
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April 23, 2014, 01:38:32 AM
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I'm pretty sure the genesis coins are unspendable.

wha, wha, what??!!?

 Cry

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April 23, 2014, 01:46:50 AM
 #4

It's true, they can't be spent.

Master-P's Free Escrow Service | 1% Fee for Multi-Party/Sig Campaigns | I Sign ALL of my addresses using PGP Key: https://keybase.io/masterp Verify
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shmadz
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April 23, 2014, 01:52:13 AM
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It's true, they can't be spent.

So sad.

if they can't be spent can you still sign a message with the private key that generated them?

"You have no moral right to rule us, nor do you possess any methods of enforcement that we have reason to fear." - John Perry Barlow, 1996
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