bitcoin deletion project. 21 million to 20 million.

[Hiraga]

Satoshi forgot his password maybe but he can just use his GodKey to take all the Bitcoins and rule the world.

[1715116700]

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[franky1]

I came up with the idea of capital coins.  However, I think you can boost the price of bitcoin if you attempt to delete 1 million coins.  Many have already been lost.  If you can get the large and new businesses to delete 1% of their coins, maybe over a year we can get to 20 million total supply while the price is cheap.  Maybe set up a mining pool to delete transaction fees, and only accept transactions with a fee attached.

A business might have a 5,000 BTC profit
1,000 btc a year would go to deletion
4,000 btc distributed to shareholders.

If you add those lost and those intentionally deleted, we could get to 20 million.  Deflation and austerity will lead to growth, as it always does.  As opposed to inflation, money supply growth, and hyperinflation which leads to tyranny.  

ok OP.. if you have bitcoins.. put ur bitcoins into a non privkey address, go on i dare ya

[LiteCoinGuy]

i guess in the end there are only 20 million because some btc got lost etc etc

[steelhouse]

Will you be the first to delete your bitcoins for the good of the rest of us?

Beat me to it. He'd obviously need to prove ownership, then burn them.

The main idea is to crowdfund business and rather than give money to charity, they give it to bitcoin deletion to help the small owners of bitcoin, the poor.  The Walmart foundation gave $1.3 billion to charity in 2013.   $1.3 billion at current prices could destroy 3 million coins.  I presently own 10 bitcoin.  Thus I am considered poor and not expected to delete bitcoin.  Bitcoin deletion would be consider how philanthropy is today, yet instead of benefiting a few insiders of many of these fake charities, it benefits everyone equally.  Consider bitcoin deletion gods work.  Fight hunger delete bitcoin.

[promojo]

Yeah this is kind of a crazy idea.  No company is going to delete their bitcoins.

[TwinWinNerD]

OP just went full retard.

Reminds me of the familiy guy scene where he destroys one of the two only remaining rare vases, because now there is only 1 left and so it must be incredibly worthy.

[Elwar]

Maybe just have the miners delete all addresses with less than 1 bitcoin as dust.

[steelhouse]

Yeah this is kind of a crazy idea.  No company is going to delete their bitcoins.

It is used as a promotion.  How much did it cost to have a college bowl named the bitcoin bowl?  What if that money was funnelled into bitcoin deletion instead?  If you are cheap and can't afford the deletion then don't delete.

[steelhouse]

Maybe just have the miners delete all addresses with less than 1 bitcoin as dust.

That would be dishonest as they don't own those bitcoin.  However the ones that are never expect to be used can be tracked and totaled.  Then there would be another category of bitcoin as expected to be lost or permanently unused.

Thus you have:
Lost
Expected to be lost/permanently unused
Deleted

Over time bitcoin deleted may exceed bitcoin mined or printed.  However, it would not be possible to delete over 10% of the supply of bitcoin a year as you soon would run out of donations.  Thus you might get 3-4% deletion a year.

[cr1776]

Maybe just have the miners delete all addresses with less than 1 bitcoin as dust.

lol.  

Some of the ideas that get floated that will never happen are just amazing.  "Someone else please destroy your coins so mine will be worth more."  No offense steelhouse, but if you get this to fly with anyone, I'd be amazed.  ;-)

[steelhouse]

Maybe just have the miners delete all addresses with less than 1 bitcoin as dust.

lol.  

Some of the ideas that get floated that will never happen are just amazing.  "Someone else please destroy your coins so mine will be worth more."  No offense steelhouse, but if you get this to fly with anyone, I'd be amazed.  ;-)

I am not asking anyone that wants to keep their bitcoin to destroy them.  I am asking for donations for deletion.  I am asking for the Walmarts of bitcoin to delete bitcoin as self promotion and philanthropy.  The sales tax averages about 10%, if that money was funneled into deletion instead bitcoin would be the world reserve currency!

[hellojpg]

fuck me... just fuck me...

thank fuck the protocol requires consensus thank fuck some idiot can't change the rules to fuck everyone over it eth


... it eth cuntish ideas like this that eventually evolve into the fed eration that hath fucked us over for 100 years.

no banks, no fed, no government, only mafs

it eth the mafs that make it unique

in mafs we trust nothing more.





fuck me...

[steelhouse]

The protocol is not changed.  It would probably require Roger Ver and Gavin Andresen and a couple more to provide a list of deletion addresses.  Suppose you have $20 million dollars or euros.  Suppose you felt guilty for owning that much maybe one night you might  delete 1000 bitcoin.  The U.S. treasury actually has an address where you can send money to pay down the debt, however it is worthless as they will just print more to get whatever they want.

[Lauda]

Okay how about you calculate the total worth of all your personal belongings, and I take 10% of it right now for no reason whatsoever?

[cr1776]

Maybe just have the miners delete all addresses with less than 1 bitcoin as dust.

lol.  

Some of the ideas that get floated that will never happen are just amazing.  "Someone else please destroy your coins so mine will be worth more."  No offense steelhouse, but if you get this to fly with anyone, I'd be amazed.  ;-)

I am not asking anyone that wants to keep their bitcoin to destroy them.  I am asking for donations for deletion.  I am asking for the Walmarts of bitcoin to delete bitcoin as self promotion and philanthropy.  The sales tax averages about 10%, if that money was funneled into deletion instead bitcoin would be the world reserve currency!

I get it.  I just doubt you'll have many people take you up on it!  :-)

If you can get someone (or many people) do destroy 1 million BTC, more power to you!

[Beliathon]

I came up with the idea of capital coins.  However, I think you can boost the price of bitcoin if you attempt to delete 1 million coins.  Many have already been lost.  If you can get the large and new businesses to delete 1% of their coins, maybe over a year we can get to 20 million total supply while the price is cheap.  Maybe set up a mining pool to delete transaction fees, and only accept transactions with a fee attached.

A business might have a 5,000 BTC profit
1,000 btc a year would go to deletion
4,000 btc distributed to shareholders.

If you add those lost and those intentionally deleted, we could get to 20 million.  Deflation and austerity will lead to growth, as it always does.  As opposed to inflation, money supply growth, and hyperinflation which leads to tyranny.  

I think you need to stop deleting so many braincells, broslice.

Puff puff pass man.

[Ron~Popeil]

You go first. 

21 million is all ready pretty limited. I think you would have a very hard time finding businesses or individuals willing to destroy their own wealth. Why not do something similar but instead of destruction send them to a worthy cause? 

[BittBurger]

There isn't going to be 21 million coins for nearly 140 years.
Why do people keep talking like this is happening soon?
Use numbers that make more sense.  13 million, 14 million, 15 million ...
-B-

[steelhouse]

Why are people continue to come up with "ideas" that potentially might boost the value??

Are you so desperate to get the price up to sell the tiny amount of coins that you own for a profit?

My goal is to end the fiat currencies of the world in which the government prints to enrich themselves and to give it away to make themselves look like heroes even though they don't have to do any of the work.  If the U.S. government even printed at 3% a year and sent it to the military and cut income taxes I would not object.  However they print, tax everything in sight and then try to tell us the printing us good for us, good for the economy.

[steelhouse]

You go first.  

21 million is all ready pretty limited. I think you would have a very hard time finding businesses or individuals willing to destroy their own wealth. Why not do something similar but instead of destruction send them to a worthy cause?  

First we need addresses that we can send to and get credit for deleting bitcoin.  That is the hard part.  I will send in a .1 bitcoin if we have an address however this address must be approved by someone or the protocol must have dead address built in to it.  I will send in 1% of my net bitcoin worth, I find it cheap as the U.S. government has been taking about 9% average over the last 30 years.  However I want to attach my nick to claim credit to the community for deletion.