Satoshi should give away a good chunk of the 1.000.000 btc he has

Predatorian

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Quote from: Narydu on March 12, 2014, 10:39:54 AM

This I wrote some time ago about this topic! It´s a very interesting idea.

https://bitcointalksearch.org/topic/hidding-the-elephant-an-idea-for-satoshi-and-a-better-world-292702

Agree, really nice idea!

Narydu

donator

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This I wrote some time ago about this topic! It´s a very interesting idea.

https://bitcointalksearch.org/topic/hidding-the-elephant-an-idea-for-satoshi-and-a-better-world-292702

colinistheman

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Quote from: El Dude on March 04, 2014, 05:20:12 AM

he donated them to all of us by never using them.

^

It's his call to do what he wants. He created the system and we're debating what he should do with his own money on his own system? Disrespectful.

Maybe we should discuss what the OP should do with the money in his personal checking and savings accounts.

Kai Proctor

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01100100 01100001 01110011 01101000

Who cares about how many BTC he has, and how he should spend them, that's nobody's business.

Xav

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If I had one million Bitcoin, I would divide the amount in 3 equal portions. I would convert one third to fiat money, the second third would be used for expanding Bitcoin by means of charities, and the last third would be stored for unknown future purposes, like stabilising its value.

samson

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Quote from: DobZombie on March 04, 2014, 09:59:41 AM

On another note, if none of Satoshi's Bitcoins have been spent already, then the keys are probably lost and will never be spent. Roll Eyes

I don't know what you're basing that on.

I have files which I've been moving from computer to computer going back 12-15 years and I've never lost any of them.

NuclearNarwal

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If he sold all of them, he would be so rich.

MNDan

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He will use them to quietly curb deflation...

Bit_Happy

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A Great Time to Start Something!

Quote from: El Dude on March 04, 2014, 05:20:12 AM

he donated them to all of us by never using them.

Who knows what evil lurks behind those quiet blocks. Shocked

Lauda

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Activity: 2674

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Terminated.

Quote from: ZephramC on March 06, 2014, 06:14:19 PM

Quote from: gollum on March 06, 2014, 06:05:22 PM

Satoshi could have prevented such measure by giving each coin a vote (Proof of Stake), but instead each client and miner has a vote which is possible to manipulate, aka 51% attack.
Performing a 51% attack to change the protocol of bitcoin is not easy, but possible if Federal Reserve would like to control the monetary policy of bitcoin

They just have to invest a few hundred million dollars in mining equipment.

51% of hashing power wont allow you to change block reward (nor will 90% of hashing power or 99% of hashing power).

Exactly.
Besides, many altcoins recovered many times after a 51%, there is no reason why bitcoin can't do the same.

BTCat

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Best would be for him to wait a few years more and then help finance 3rd world country projects.

If I had a million I would build an organization for this.

Donate BTC:18Ks86M2q5JEzkuyw2hT4JhCdNzhudXxzq

ZephramC

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Quote from: gollum on March 06, 2014, 06:05:22 PM

Quote from: Lauda on March 06, 2014, 06:01:27 PM

Quote from: gollum on March 06, 2014, 05:57:40 PM

I vote for raising the block reward from 25 coins to 25,000 coins in order to inflate the value of the coins from preminers and thieves.

You get my vote for the dumbest person of 2014.

Satoshi could have prevented such measure by giving each coin a vote (Proof of Stake), but instead each client and miner has a vote which is possible to manipulate, aka 51% attack.
Performing a 51% attack to change the protocol of bitcoin is not easy, but possible if Federal Reserve would like to control the monetary policy of bitcoin

They just have to invest a few hundred million dollars in mining equipment.

51% of hashing power wont allow you to change block reward (nor will 90% of hashing power or 99% of hashing power).

gollum

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Activity: 434

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In Hashrate We Trust!

Quote from: Lauda on March 06, 2014, 06:01:27 PM

Quote from: gollum on March 06, 2014, 05:57:40 PM

I vote for raising the block reward from 25 coins to 25,000 coins in order to inflate the value of the coins from preminers and thieves.

You get my vote for the dumbest person of 2014.

Satoshi could have prevented such measure by giving each coin a vote (Proof of Stake), but instead each client and miner has a vote which is possible to manipulate, aka 51% attack.
Performing a 51% attack to change the protocol of bitcoin is not easy, but possible if Federal Reserve would like to control the monetary policy of bitcoin

They just have to invest a few hundred million dollars in mining equipment.

Lauda

legendary

Activity: 2674

Merit: 2965

Terminated.

Quote from: gollum on March 06, 2014, 05:57:40 PM

I vote for raising the block reward from 25 coins to 25,000 coins in order to inflate the value of the coins from preminers and thieves.

You get my vote for the dumbest person of 2014.

DeathAndTaxes

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Gerald Davis

Quote from: gollum on March 06, 2014, 05:57:40 PM

I vote for raising the block reward from 25 coins to 25,000 coins in order to inflate the value of the coins from preminers and thieves.

Good thing there is no voting in a consensus system. You can fork Bitcoin, it would be trivial. So why don't you do it?

gollum

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Activity: 434

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In Hashrate We Trust!

I vote for raising the block reward from 25 coins to 25,000 coins in order to inflate the value of the coins from preminers and thieves.

Lauda

legendary

Activity: 2674

Merit: 2965

Terminated.

Why don't you give away a good chuck of your fortune.
Better yet, give it away to me, smart ass.

thecapitalr

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So there is no actual evidence he holds this much just speculation. Sure he mined a bunch but who is to say he didn't either spend it, trade it, or loose it in some way?

txbt

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Quote from: relgub on March 04, 2014, 04:50:51 AM

Having 1 million btc is a complete obscenity.

Where do you draw the line between decency-obscenity? You don't know what his intention are. If you want to change the world for the better 1 million BTC maybe a small sum.

Quote from: relgub on March 04, 2014, 04:50:51 AM

He should start giving them away somehow.

Maybe he will when he (they) see fit. Or maybe he has other intentions. Giving BTC for free is not the only answer. Here some other suggestions (including giving BTC for free)

Quote from: relgub on March 04, 2014, 04:50:51 AM

He is not the 1% but the 0.000001% Warren Buffet is broke compared to satoshi (talking about wealth percentage)

I'm not sure I understand but I don't think a comparison is important here. "His net worth is up to $47 billion as of March 2010" (about Warren Buffet) Source: Wikipedia

Quote from: relgub on March 04, 2014, 04:50:51 AM

What do you think?

I trust him (them) that they think/thought thoroughly about it and take action according to that.

Rsss

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This idea came to my mind:

He should donate his 750k btc to MtGox victims after they make a very secure new system and save us all from our troubles.

As a Gox loser, i feel the pain

Dont start blaming me about why i kept my coins there. I was day trading and how could i know they were going to cancel the btc withdrawals.. My aim was to profit from day trading, withdraw btc, sell somewherelse...

Shit happens but SATOSHI come save us all. 10000s of people...

Topic: Satoshi should give away a good chunk of the 1.000.000 btc he has (Read 5516 times)