Bitcoin redistribution - page 2. | Bitcointalksearch.org

Ibian

legendary

Activity: 2268

Merit: 1278

Quote from: acsalles on January 15, 2014, 10:07:03 AM

If prices are getting very high, Satoshi would not really need hundreds of billions of Dollars, it makes more sense if he is voluntarialy organizing a serious "giveaway" and distributed it to non-profitable organizations working agains climate-change, to red-cross, fund educational programs, etc...

He would remain very, very rich, would make Bitcoin safer and definitely write his name in history.

Satoshi is not stupid enough to believe in the climate change garbage. A religious nut could not have made something like bitcoin.

henryreardon

newbie

Activity: 59

Merit: 0

Quote from: Akka on January 15, 2014, 09:54:02 AM

If that happens, I'm curious on how they identify the American Bitcoins, to redistribute them between Americans. Or are you saying they will attempt to steal the money of everyone worldwide to distribute it between Americans?

I imagine they'd get some dinosaurs together and issue some silly law along the lines of...

The United States v. Satoshi and the Early Adopter Bitcoin community, 987 U.S. 479, 527 (2014)

All current US citizens who hold bitcoins shall remit them to the US Treasury 32uEbMgunupShBVTewXjtqbBv5MndwfXhb according to the following schedule:

<100 bitcoins - 10%

100-500 bitcoins - 30%

500+ bitcoins - 60%

And they'd have some curmudgeon on TV explaining to Al Bundy America how Bitcoin is a series of tubes (http://www.youtube.com/watch?v=R8XSo0etBC4) and how this law is needed in the name of fairness.

knightcoin

full member

Activity: 238

Merit: 100

Stand on the shoulders of giants

Quote from: acsalles on January 15, 2014, 10:07:03 AM

If prices are getting very high, Satoshi would not really need hundreds of billions of Dollars, it makes more sense if he is voluntarialy organizing a serious "giveaway" and distributed it to non-profitable organizations working agains climate-change, to red-cross, fund educational programs, etc...

He would remain very, very rich, would make Bitcoin safer and definitely write his name in history.

That's what's Bill Gates is doing, Gates has reduced his stock ~~holding~~ hodling on pre schedule share sell off, and transferring his wealth to Bill and Melinda Gates Foundation.

acsalles

member

Activity: 343

Merit: 11

Rangers.Protocol

If prices are getting very high, Satoshi would not really need hundreds of billions of Dollars, it makes more sense if he is voluntarialy organizing a serious "giveaway" and distributed it to non-profitable organizations working agains climate-change, to red-cross, fund educational programs, etc...

He would remain very, very rich, would make Bitcoin safer and definitely write his name in history.

Akka

legendary

Activity: 1232

Merit: 1001

Quote from: greyman on January 15, 2014, 09:57:56 AM

With my economic knowledge being limited, can someone explain what are the main disadvantages of such a distribution we've got in Bitcoin?

It's that many are envy of people getting rich and automatically thinks it's unfair. Even if they never had made and will make the same decisions /take the same risks as the people which accomplish it.

greyman

newbie

Activity: 40

Merit: 0

With my economic knowledge being limited, can someone explain what are the main disadvantages of such a distribution we've got in Bitcoin?

Akka

legendary

Activity: 1232

Merit: 1001

Quote from: henryreardon on January 15, 2014, 12:39:23 AM

Obama: All Americans deserve opportunities. That is the kind of country I believe in, and that is the kind of country that you elected me to lead.
(applause... fade to black...)

If that happens, I'm curious on how they identify the American Bitcoins, to redistribute them between Americans. Or are you saying they will attempt to steal the money of everyone worldwide to distribute it between Americans?

cr1776

legendary

Activity: 4060

Merit: 1303

Quote from: henryreardon on January 15, 2014, 12:39:23 AM

Given the political leanings of the country these days, when Bitcoin really explodes and the value of bitcoins goes through the roof, can y'all see something like this going down:

Reporter: Mr. President! What do you think about the fact that 80% of bitcoins are held by 10% of the population?

Obama: I and many of my fellow Americans believe that that is unfair. We want to make sure that everyone gets a fair chance with Bitcoin.

Reporter: Do you plan to take any action in this regard?

Obama: Yes. I am am working in a bipartisan manner to introduce legislation that would ensure that all Americans receive opportunities with Bitcoin.

Lone Fox Reporter: So do you plan to redistribute bitcoins from those who hold them to those who don't?

Obama: All Americans deserve opportunities. That is the kind of country I believe in, and that is the kind of country that you elected me to lead.

(applause... fade to black...)

Plausible if bit coin became huge. i am waiting to see how the "redistribution of oil" works since it is quite concentrated in a few areas and "it isn't fair" to the world, particularly Africa since the can't afford it. Ditto ocean front property in Hawaii. 'Spread the wealth around' via government was the phrase that he used in 2008.

:-)

And addresses =/= people. And some are exchanges.

domob

legendary

Activity: 1135

Merit: 1166

Quote from: thinkloop on January 15, 2014, 04:15:00 AM

Quote from: knightcoin on January 15, 2014, 01:50:26 AM

Global wealth inequality: top 1% own 41%; top 10% own 86%; bottom half own just 1%

Just 8.4% of all the 5bn adults in the world own 83.4% of all household wealth (that’s property and financial assets, like stocks, shares and cash in the bank). About 393 million people have net worth (that’s wealth after all debt is accounted for) of over $100,000, that’s 10% own 86% of all household wealth! But $100,000 may not seem that much, if you own a house in any G7 country without any mortgage. So many millions in the UK or the US are in the top 10% of global wealth holders. This shows just how little two-thirds of adults in the world have – under $10,000 of net wealth each and billions have nothing at all.

http://thenextrecession.wordpress.com/2013/10/10/global-wealth-inequality-10-own-86-1-own-41-half-own-just-1/

The top 50 holders of Bitcoin control 3.5m out of 13m coins, or 27% of the supply. The top 50 richest Americans are worth $700b out of $10t dollars, or 7%. Money supply chart: http://en.wikipedia.org/wiki/File:MB,_M1_and_M2_aggregates_from_1981_to_2012.png

I assume you mean "top 50 addresses"? (I don't see how one could get information about "top holders" as in persons, not addresses, for Bitcoin.) In that case, these addresses probably include business addresses of exchanges, for instance. In the USD world, you also can't include accounts that banks own into your statistics.

thinkloop

newbie

Activity: 41

Merit: 0

Quote from: knightcoin on January 15, 2014, 01:50:26 AM

Global wealth inequality: top 1% own 41%; top 10% own 86%; bottom half own just 1%

Just 8.4% of all the 5bn adults in the world own 83.4% of all household wealth (that’s property and financial assets, like stocks, shares and cash in the bank). About 393 million people have net worth (that’s wealth after all debt is accounted for) of over $100,000, that’s 10% own 86% of all household wealth! But $100,000 may not seem that much, if you own a house in any G7 country without any mortgage. So many millions in the UK or the US are in the top 10% of global wealth holders. This shows just how little two-thirds of adults in the world have – under $10,000 of net wealth each and billions have nothing at all.

http://thenextrecession.wordpress.com/2013/10/10/global-wealth-inequality-10-own-86-1-own-41-half-own-just-1/

The top 50 holders of Bitcoin control 3.5m out of 13m coins, or 27% of the supply. The top 50 richest Americans are worth $700b out of $10t dollars, or 7%. Money supply chart: http://en.wikipedia.org/wiki/File:MB,_M1_and_M2_aggregates_from_1981_to_2012.png

That's assuming their entire wealth is in USD, which, of course, it's not. The dollar is significantly more dispersed.

Kungfucheez

member

Activity: 98

Merit: 10

Are you high or something?

knightcoin

full member

Activity: 238

Merit: 100

Stand on the shoulders of giants

Global wealth inequality: top 1% own 41%; top 10% own 86%; bottom half own just 1%

Just 8.4% of all the 5bn adults in the world own 83.4% of all household wealth (that’s property and financial assets, like stocks, shares and cash in the bank). About 393 million people have net worth (that’s wealth after all debt is accounted for) of over $100,000, that’s 10% own 86% of all household wealth! But $100,000 may not seem that much, if you own a house in any G7 country without any mortgage. So many millions in the UK or the US are in the top 10% of global wealth holders. This shows just how little two-thirds of adults in the world have – under $10,000 of net wealth each and billions have nothing at all.

http://thenextrecession.wordpress.com/2013/10/10/global-wealth-inequality-10-own-86-1-own-41-half-own-just-1/

thinkloop

newbie

Activity: 41

Merit: 0

The high concentration of Bitcoin in few hands has been a lingering deterrent to my investing heavily in it. I wonder if this will be a hindrance to its adoption by big investors and institutions. It's not the uneven distribution of wealth that's the problem, but the danger of few individuals having the power to manipulate the value of the currency at will. The risk may be too much for sophisticated funds to justify investing big.

henryreardon

newbie

Activity: 59

Merit: 0

Given the political leanings of the country these days, when Bitcoin really explodes and the value of bitcoins goes through the roof, can y'all see something like this going down:

Reporter: Mr. President! What do you think about the fact that 80% of bitcoins are held by 10% of the population?

Obama: I and many of my fellow Americans believe that that is unfair. We want to make sure that everyone gets a fair chance with Bitcoin.

Reporter: Do you plan to take any action in this regard?

Obama: Yes. I am am working in a bipartisan manner to introduce legislation that would ensure that all Americans receive opportunities with Bitcoin.

Lone Fox Reporter: So do you plan to redistribute bitcoins from those who hold them to those who don't?

Obama: All Americans deserve opportunities. That is the kind of country I believe in, and that is the kind of country that you elected me to lead.

(applause... fade to black...)

Topic: Bitcoin redistribution - page 2. (Read 1945 times)