Satoshi Nakamoto - 1,5 million Bitcoins - We need answers - page 4.

Phinnaeus Gage

legendary

Activity: 1918

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Bitcoin: An Idea Worth Spending

Quote from: Jack of Diamonds on August 19, 2011, 08:56:07 AM

If you do create a new fork, why not just make a mechanism which allows for the destruction of coins as well?

Then just mine & destroy the first few million easy coins in a way which can be publically proven & seen to have taken place.

After that, release it to the public.
Or start at a higher difficulty right away.

Oh, MMFG! Does anybody else realized what could have been released here? Nothing would stop an individual from doing what Jack of Diamonds just divulged. Somewhere down the road there possibly could be an all out virtual currency war--one chain (rhymes with gang) taking out another chain, all in the name of increasing its worth.

This just in here at CNNNN&N! Although full details are not yet available, sources from the net confirm that users of BieberCoin have destroyed another million Bitcoin. Bitcoin, the granddaddy of virtual currency, is currently fighting a 17 front war. As you recall, yesterday we reported that it was way to quiet over at the Bieber camp, and that an attack seemed imminent. Today, our suspicion proved correct. We're joined now with Hash Newman, over at the AnonLulzCoin camp. Howdy, Hash. Nice outfit you're wearing. You seem to blend right in...

Jack of Diamonds

sr. member

Activity: 252

Merit: 251

If you do create a new fork, why not just make a mechanism which allows for the destruction of coins as well?

Then just mine & destroy the first few million easy coins in a way which can be publically proven & seen to have taken place.

After that, release it to the public.
Or start at a higher difficulty right away.

Piper67

legendary

Activity: 1106

Merit: 1001

Quote from: Phinnaeus Gage on August 19, 2011, 08:53:28 AM

Quote from: the joint on August 19, 2011, 05:17:23 AM

Quote from: becoin on August 19, 2011, 01:52:43 AM

Quote from: Phinnaeus Gage on August 19, 2011, 12:36:27 AM

enlighten us on how you solved the sentiment...

I didn't. Still working on it. Solving the problem of fair initial distribution of wealth is an epic task. Human understanding of what is fair and what is not tends to change over time and is slightly different in the different cultures and societies. I'm sure there will be many competing approaches.

In my opinion, you're facing a problem of literally universal proportions.

Universal syntax incorporates (at the very least) the roots of justice and fairness if not justice and fairness itself. Since this syntax guides content (e.g. us acting within the universe) it creates the very problem you're trying to solve while simultaneously unfolding the solution. This solution has been and continues to be since the 'beginning' (for lack of a better word) of time. Good luck.

+1

&

+1

Agreed, +1 for the concept of the universality of the proposition and +1 for including time as a dimension.

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

Quote from: the joint on August 19, 2011, 05:17:23 AM

Quote from: becoin on August 19, 2011, 01:52:43 AM

Quote from: Phinnaeus Gage on August 19, 2011, 12:36:27 AM

enlighten us on how you solved the sentiment...

I didn't. Still working on it. Solving the problem of fair initial distribution of wealth is an epic task. Human understanding of what is fair and what is not tends to change over time and is slightly different in the different cultures and societies. I'm sure there will be many competing approaches.

In my opinion, you're facing a problem of literally universal proportions.

Universal syntax incorporates (at the very least) the roots of justice and fairness if not justice and fairness itself. Since this syntax guides content (e.g. us acting within the universe) it creates the very problem you're trying to solve while simultaneously unfolding the solution. This solution has been and continues to be since the 'beginning' (for lack of a better word) of time. Good luck.

+1

&

+1

the joint

legendary

Activity: 1834

Merit: 1020

Quote from: becoin on August 19, 2011, 01:52:43 AM

Quote from: Phinnaeus Gage on August 19, 2011, 12:36:27 AM

enlighten us on how you solved the sentiment...

I didn't. Still working on it. Solving the problem of fair initial distribution of wealth is an epic task. Human understanding of what is fair and what is not tends to change over time and is slightly different in the different cultures and societies. I'm sure there will be many competing approaches.

In my opinion, you're facing a problem of literally universal proportions.

Universal syntax incorporates (at the very least) the roots of justice and fairness if not justice and fairness itself. Since this syntax guides content (e.g. us acting within the universe) it creates the very problem you're trying to solve while simultaneously unfolding the solution. This solution has been and continues to be since the 'beginning' (for lack of a better word) of time. Good luck.

becoin

legendary

Activity: 3431

Merit: 1233

Quote from: Phinnaeus Gage on August 19, 2011, 12:36:27 AM

enlighten us on how you solved the sentiment...

I didn't. Still working on it. Solving the problem of fair initial distribution of wealth is an epic task. Human understanding of what is fair and what is not tends to change over time and is slightly different in the different cultures and societies. I'm sure there will be many competing approaches.

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

Quote from: becoin on August 19, 2011, 12:02:12 AM

Quote from: Phinnaeus Gage on August 18, 2011, 09:08:19 PM

Satoshi Nakamoto - 1,5 million Bitcoins - We need answers ~ http://www.youtube.com/watch?v=5j2F4VcBmeo

'Or you pick up a weapon and stand opposed...'
And this is exactly what I'm gonna do. If I don't get answers I'll make a new, improved block chain that will be totally transparent from the very beginning.

That's the spirit! I'm with you, and pretty sure the others who have expressed their feelings on this threatd are also. But before we make a full commitment, enlighten us on how you solved the sentiment in regards to the early adapters. We don't want any SOB's getting rich off the backs of the people who come after those early adapters of your new and improved block chain. We look forward to your answer, and please keep us posted on your progress. I look forward to reading your thread upon roll out, so please PM me prior to you doing such. I just want to be one of the early readers.

becoin

legendary

Activity: 3431

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Quote from: Phinnaeus Gage on August 18, 2011, 09:08:19 PM

Satoshi Nakamoto - 1,5 million Bitcoins - We need answers ~ http://www.youtube.com/watch?v=5j2F4VcBmeo

'Or you pick up a weapon and stand opposed...'
And this is exactly what I'm gonna do. If I don't get answers I'll make a new, improved block chain that will be totally transparent from the very beginning.

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

Quote from: BitcoinStars.com on August 18, 2011, 09:24:59 PM

Quote from: Phinnaeus Gage on August 18, 2011, 09:08:19 PM

Satoshi Nakamoto - 1,5 million Bitcoins - We need answers ~ http://www.youtube.com/watch?v=5j2F4VcBmeo

Glad you enjoyed it!

BitcoinStars.com

full member

Activity: 140

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Quote from: Phinnaeus Gage on August 18, 2011, 09:08:19 PM

Satoshi Nakamoto - 1,5 million Bitcoins - We need answers ~ http://www.youtube.com/watch?v=5j2F4VcBmeo

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

Satoshi Nakamoto - 1,5 million Bitcoins - We need answers ~ http://www.youtube.com/watch?v=5j2F4VcBmeo

sneak

newbie

Activity: 28

Merit: 0

Quote from: molecular on August 16, 2011, 02:18:35 AM

Hehe. For some early adopters, "very little" might still be in the thousands, though.

I can understand some of them cashed in too early, though. Imagine you're a little short on cash and the bitcoin value just shot up 400% to USD 0.80!! I'd be tempted to sell, myself. I've been having a hard time holding on to my little stash myself at times.

The investor that thinks that cashing out after a 400% increase is "too early", well, isn't.

If you want to whine about it, think about the story told to me last weekend - a dude who bought a pizza for 10,000 bitcoins. Then go try to make traditional investments that yield triple-digit APYs. Then come back and complain.

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

Quote from: molecular on August 17, 2011, 01:55:42 AM

Quote from: the joint on August 17, 2011, 01:24:44 AM

Quote from: memvola on August 16, 2011, 09:42:48 PM

Quote from: the joint on August 16, 2011, 09:30:37 PM

Quote from: memvola on August 16, 2011, 06:41:54 PM

Quote from: the joint on August 16, 2011, 06:33:10 PM

If I had the programming skills, I'd do it.

I have programming skills, arguably better than his, and I didn't do it. Neither did millions of other programmers.

The true novelty of Bitcoin lies in the math, not in the programming (as the programming is a reflection and implementation of the math). That's why the programmers (and you) didn't do it.

This is getting ridiculous.

P.S. I have a maths degree. Damn, I must be an idiot.

No, you could've done it if knew how to generate the algorithm from the theory, but you didn't; he did. And, no one else did before him. Thus, it's novel.

The Egg of Columbus comes to mind. That's why nobody else did it and people that saw it early had all kinds of objections... "An egg of Columbus or Columbus's egg refers to a brilliant idea or discovery that seems simple or easy after the fact." A million bitcoins is the least he deserves. His "invention" is worth more than that if in the end, we have free money.

What do you call a guy who has a propensity for posting images on forums: A Banksyneer.

Egg of Columbus

Fiyasko

legendary

Activity: 1428

Merit: 1001

Okey Dokey Lokey

Quote from: indicasteve on August 15, 2011, 05:09:56 PM

I bet he lost his wallet.

OHHHHHHHHHHHHHHHH SNNNNNNNNNAAAAAAAAPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPP

johnyj

legendary

Activity: 1988

Merit: 1012

Beyond Imagination

Come on, just 1.5m BTC, that is really dirt cheap if you consider those bankers

nakowa

member

Activity: 83

Merit: 10

Quote from: fastandfurious on August 15, 2011, 04:31:00 PM

Until this questions are not answered, and I am pretty sure the person/group behind this project can read this, we should really reconsider buying in until we get some answers. If this is going to get big, this questions will always hunt us until they are answered.

Wish you can stand for your proposal: do not buy or sell bitcoin until you got your answers. PLS!

Xephan

newbie

Activity: 42

Merit: 0

Quote from: memvola on August 17, 2011, 06:48:05 AM

Now, it would be nicer if everyone spent their coins more often for services, but I can't even persuade my close friends to do so. It's way too off-topic though.

The root problem is always the size of the economy. There's nothing much to use Bitcoin for, so most miners will just keep it.

newminerr

member

Activity: 147

Merit: 11

The day to rise has come.

Quote from: nighteyes on August 16, 2011, 07:13:05 PM

Quote from: becoin on August 16, 2011, 01:26:10 PM

I want to know who are those people that I'm going to make rich? Very rich.

Besides yourself you mean....but we shouldnt worry about you, Im sure you are an upstanding citizen. Satoshi is a class act too, kind of looks like James Bond, but Japanese. He's not violent in the least bit, but you'll understand that he drives a sportscar and likes to take it for a spin on curvy mountain roads. Comes from a humble background, smart family....but never used his IQ to berate others...never. Got along with everyone, class president. He's just one of those engimas who comes along where you cant really describe him...like Bruce Lee.

Except he might not be Japanese ;]

memvola

hero member

Activity: 938

Merit: 1002

Quote from: molecular on August 16, 2011, 09:01:31 AM

like this chart? consider donating: 1SQL2R5ijCn2ZiBG8aDYpCiecNPuxzMJJ

Thank you, just sent you a donation.

Looks to me like keeping the coins is the norm. 2011 is too recent to judge, but it doesn't seem like people who mined in 2010 broke the trend, even though profitability increased. So I think the fact that 2009 coins haven't been moved doesn't tell us that they belong to an individual or small group of people (we know it a-priori, since there were fewer miners). All miners seem to think of it as a long term investment.

Now, it would be nicer if everyone spent their coins more often for services, but I can't even persuade my close friends to do so. It's way too off-topic though.

molecular

donator

Activity: 2772

Merit: 1019

Quote from: Big Time Coin on August 17, 2011, 02:16:29 AM

1) We are all early adopters. See the wiki linked above. The adoption rate is still WELL below 2.5% of the US market alone.

2) Satoshi must maintain his anonymity. If he reveals any info about himself, he will be easier to track down for robbery, capture, and interrogation. It would be like announcing in the town newspaper "I have $16 million in a suitcase only I know the location of. I live at X address", you'd just get robbed.

3) Diamonds market cornered by DeBeers, does that keep you from buying diamonds? Gold market cornered by secret account holders - sure doesn't seem to slow down the gold market much this decade. Do you know the names of the 600 princes of Saudi Arabia before you buy stock in Chevron? etc.

List goes on and on, OP started an interesting thread but Satoshi (one person or group of people) is wise to ignore his questions and continue sitting on his 1 mil bitcoins until it is worth 1 billion dollars or more.

and THANKS for the charts and research, MOLECULAR!

MR. FSM! Shocked

I agree with you on point 1.) and 2.). Number 3.) I can't really judge, cause I've never invested much in anything, so I don't know how I would go about that.

Making the charts has been fun and the donations I received are greatly appreciated. I think moving around a little BTC, however few, amongst us bitcoiners is a very good thing. So I passed on part of the donations to John Tobey, who wrote bitcoin-abe. Kind of the gift-economy that's been talked about a lot since a decade ago, mainly in relation to the music world. Receiving a donation is really motivating and giving one is satisfying.

I have a feeling this culture of donating small amounts for contributions is in decline, which is sad. People have become more protective of their BTC and I can understand that... all the scamming and shit going on and the price being substantial compared to last year. But keep in mind, a bitcent is just a dime. I give a beggar on the street a lot more than that... So, lets keep the donations going, it's currently the closest thing we have to a "closed-loop bitcoin economy" Wink

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