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Author Topic: Coin Collecting  (Read 1930 times)
Red
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July 27, 2010, 12:03:34 AM
 #1

I'd like to be the first BitCoin collector.

I'd like to buy 5 uncirculated bitcoins from the genesis block.  I'm willing to pay $5 USD for them. That's 20x the current market rate if you are the current owner.

As bitcoins are not individually represented or serialized, here are my requirements for "uncirculated".

After transfer to my bitcoin address(s), you should be able to show the following provenance.
1) A complete transaction list originating at the genesis block
2) All transactions in that list have only a single input. (no merging transactions)

That means, I want coins from the genesis block, that have never been mixed with (circulated with/tainted by) coins generated in subsequent blocks. Otherwise, there is no way to know my coins are true genesis coins.

The only exception to the merging transaction rule, is if you can show that every input to the merging transaction has the above provenance. In other words, the genesis coins have only been mixed with other genesis coins.

I might even pay extra, if you can document the real world owners of every bitcoin address the coins passed through.

Cheers!
Red
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knightmb
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July 27, 2010, 01:58:58 AM
 #2

So the very first 50BTC is what you are after, what if that person had other BitCoins generated into it since then, how do you know which is which?

lachesis
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July 27, 2010, 02:59:12 AM
 #3

Those would almost certainly be Satoshi's, and chances are they're all been "tainted".

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llama
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July 27, 2010, 03:17:22 AM
 #4

Better yet, have them give you the private key to the address that generated them/has them.  Then they will be even fresher because they won't have that last transaction fo them being sent to you!

Red
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July 27, 2010, 03:39:15 AM
 #5

So the very first 50BTC is what you are after, what if that person had other BitCoins generated into it since then, how do you know which is which?

I kind of figured that if I had generated the first and only block, the next thing I would do is transfer some coins to another account to see if everything was working. Probably several different times. Then I might try merging them back together to test that too.

It's possible they have all been merged together. That would be a shame for future historians though. If that's true, I might start looking for coins from the first non-tainted (uncirculated block).

Either way, I figure there is at least a 1 and 10 chance that you have the earliest untainted coins. :-)
Red
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July 27, 2010, 03:54:43 AM
 #6

Better yet, have them give you the private key to the address that generated them/has them.  Then they will be even fresher because they won't have that last transaction fo them being sent to you!

Actually, that is a really cool concept to ponder.

I hadn't thought of the fact that Satoshi has the private key to the genesis block! He has incontrovertible proof that he kicked this whole thing off! I doubt he'll part with that key. He'll probably pass it down to his kids.

It would be cool to own that address with some of the original coins in it!

(Shit, now I'll never get any! :-))
eugene2k
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July 31, 2010, 11:57:50 AM
 #7

Umm... as far as I understand, you really can't collect bitcoins. All that the system keeps are transactions between peers.
Red
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July 31, 2010, 04:35:05 PM
 #8

Umm... as far as I understand, you really can't collect bitcoins. All that the system keeps are transactions between peers.

It's my collection, I can do it if I want!

If you read carefully you'll see I defined the rules for the collected coins in terms of transactions. It maybe a silly idea but I think the rules of the collection make it coherent even if it is virtual.
eugene2k
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July 31, 2010, 06:40:50 PM
 #9

Ahh... I missed that somehow Smiley
Red
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April 18, 2013, 08:47:08 PM
 #10

I started this thread a very long time ago. Nobody ever took me up on the offer.

But I wonder...
Now that there are a lot more BitCoin geeks, does anyone collect BitCoins numismatically?
kgo
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April 18, 2013, 09:20:38 PM
 #11

Someone was asking for bitcoins that could ultimately be traced back to the pizza transaction.  Don't know if they ever got any.
Red
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April 18, 2013, 09:27:49 PM
 #12

Hey that's a start!
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