Pages:
Author

Topic: If bitcoin was real coins, Would you pick 1500 satoshis off the ground? - page 3. (Read 4592 times)

legendary
Activity: 3528
Merit: 4945
EDIT: On the second thought, since I have a dozen of bitcoin sitting in my wallet, I could have created fee-less transactions to consolidate the dusts.
For a transaction with 6 inputs (5 dust + 1 big input) and 1 output, the size should be about 930 bytes. So, I just need 54 confirmations on a 10btc output to make the transaction priority over 57,600,000. In that sense, I should be able to slowly reduce the number of dusts day by day without any bitcoin fee but only some time cost lol. Grin

Yes, if you are willing to set aside a single 10 BTC output to use for consolidating dust, every 9 hours you could possibly consolidate 5 dust inputs.  If you spend 1 hour picking up 1 output per second, you'll have 3600 outputs to consolidate.  Therefore, if you remember to consolidate them every 9 hours, it will take you about 6,480 hours (270 days) to consolidate your 0.054 BTC.

Of course, you're spending a lot more than 1 second per output in the effort now.  There have to be faster, easier, and better ways to earn $20 in 9 months.

legendary
Activity: 1064
Merit: 1000
Picking 1500 satoshis off the ground is like a faucet without the captcha.
sr. member
Activity: 294
Merit: 250
Some great info here. So now my plan to pick up the coins would be to just collect them. And before spending, add a few to minimize transaction fees. I'm thinking since they are coins, you'd be able to put them in something to add their value to your wallet. If coins just had info on them that you scanned, well then all the coins on the ground could be spent and worthless, changes my whole thinking then.
legendary
Activity: 966
Merit: 1001
I will pick any coins on the ground that has value.

Even if such a coin is worth for 0.6 cent?
Wouldn't it be wiser for you to spend your time on a part-time work or self learning instead of picking up those 0.6 cent coins?
member
Activity: 60
Merit: 10
I will pick any coins on the ground that has value.
newbie
Activity: 58
Merit: 0
I will pick it, I will add it to my collection. Bitcoin value will change overtime. This is are real coins you can transfer it without transaction fee.
legendary
Activity: 812
Merit: 1000

yeah cause its $1500 in the future just for bending down  Grin
legendary
Activity: 1120
Merit: 1000
If I can pick up a coin every second and there are countless of them around me, I would definitely spend as much time as possible there to pick up every coins and get 0.054 btc an hour.

That would require you to spend at least 3,600 outputs.

You'll end up spending at least 0.00001 BTC in fees for every 6 outputs that you spend.

That means that in order to spend the 0.054 BTC, you'll pay at least 0.006 BTC in fees, resulting in only 0.048 BTC in spendable income.

That assumes that you pay a transaction fee of only 0.00001 BTC per kilobyte, that you can fit 6 outputs per kilobyte into your transaction, and that every one that you pick up is a single output.

If you pay a more typical 0.0001 BTC per kilobyte and you fit a more typical 5.5 outputs per kilobyte into your transaction, you'll end up paying more like 0.06545 BTC in fees to spend the 0.054 BTC.  This means that picking up the coins will actually cost you 0.01125 BTC per hour.

It would make more financial sense to do something else for the hour to earn cash, and then exchange that cash for bitcoins.

Very true. I haven't thought about it in depth.

EDIT: On the second thought, since I have a dozen of bitcoin sitting in my wallet, I could have created fee-less transactions to consolidate the dusts.
For a transaction with 6 inputs (5 dust + 1 big input) and 1 output, the size should be about 930 bytes. So, I just need 54 confirmations on a 10btc output to make the transaction priority over 57,600,000. In that sense, I should be able to slowly reduce the number of dusts day by day without any bitcoin fee but only some time cost lol. Grin
sr. member
Activity: 252
Merit: 250
I`d pick it up at $100,000 value as well lol.  Tongue
member
Activity: 66
Merit: 10
I would pick it. If 1 bitcoin is worth $100,000 each.
hero member
Activity: 674
Merit: 500
What can I do with that 1500 satoshi with a value of $0.006?
I guess it is pretty much nothing, so it is a "no" for me. Smiley
sr. member
Activity: 294
Merit: 250
If the value covers a transaction fee it's worth it. Now where do I find these to start picking them up?

Bitcoin geocaches anyone?  Shocked
hero member
Activity: 1372
Merit: 783
better everyday ♥
How much is that?  $0.70 or so?

Hmmm, depends how it looks.  If it looks like physical Bitcoins, hell yes!



I like this - got a link to the homepage?

Don't think they're pre loaded with any coin, just there to look at and be pretty:

https://ravenbit.com/

For the real deal holyfields, these will cost you a pretty penny:

https://www.titanbtc.com/
hero member
Activity: 504
Merit: 500
How much is that?  $0.70 or so?

Hmmm, depends how it looks.  If it looks like physical Bitcoins, hell yes!



I like this - got a link to the homepage?
newbie
Activity: 22
Merit: 0
Nope for me. Even if the coins are clean, bending down 140 times for a dollar doesn't sound like a good idea to me. Smiley

How much is that?  $0.70 or so?

Hmmm, depends how it looks.  If it looks like physical Bitcoins, hell yes!

If you picked it 100 times, you will get about $0.7 lol. Tongue

lol.. then I wont. Let the other people who needs it pick it up 10  ;D0 times.
legendary
Activity: 3528
Merit: 4945
If I can pick up a coin every second and there are countless of them around me, I would definitely spend as much time as possible there to pick up every coins and get 0.054 btc an hour.

That would require you to spend at least 3,600 outputs.

You'll end up spending at least 0.00001 BTC in fees for every 6 outputs that you spend.

That means that in order to spend the 0.054 BTC, you'll pay at least 0.006 BTC in fees, resulting in only 0.048 BTC in spendable income.

That assumes that you pay a transaction fee of only 0.00001 BTC per kilobyte, that you can fit 6 outputs per kilobyte into your transaction, and that every one that you pick up is a single output.

If you pay a more typical 0.0001 BTC per kilobyte and you fit a more typical 5.5 outputs per kilobyte into your transaction, you'll end up paying more like 0.06545 BTC in fees to spend the 0.054 BTC.  This means that picking up the coins will actually cost you 0.01125 BTC per hour.

It would make more financial sense to do something else for the hour to earn cash, and then exchange that cash for bitcoins.
newbie
Activity: 39
Merit: 0
Yes for sure! I would pick it up off the ground, leave it in a safe for 5-10 years or more and then check the price.
legendary
Activity: 1120
Merit: 1000
That depends on how many coins there are, and how far they are apart.

If I can pick up a coin every second and there are countless of them around me, I would definitely spend as much time as possible there to pick up every coins and get 0.054 btc an hour.
If I need to walk a minute to find a coin, why would I waste an hour to get 0.0009 btc?
newbie
Activity: 56
Merit: 0
No .. Who would drop 1500 satoshis on the ground every hour? or every day? ..
BTC is a real coin actually , but we got it in asets , same like oil , would you like to pick 1L oil off the ground?
Can never have enough oil around the house. I'd imagine 1500 satoshis' worth of oil would be more like a drop than a liter, though.
that's the point.. it not worth that to take that satosi Cheesy , except every betwen 15 to 1 hour you found it Grin
hero member
Activity: 882
Merit: 1000
Exhausted
Nope for me. Even if the coins are clean, bending down 140 times for a dollar doesn't sound like a good idea to me. Smiley

How much is that?  $0.70 or so?

Hmmm, depends how it looks.  If it looks like physical Bitcoins, hell yes!

If you picked it 100 times, you will get about $0.7 lol. Tongue
Pages:
Jump to: