Satoshi should give away a good chunk of the 1.000.000 btc he has - page 4.

gollum

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Quote from: relgub on March 04, 2014, 03:50:51 AM

Having 1 million btc is a complete obscenity.

He should start giving them away somehow.

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

What do you think?

I agree, he is the invisible oligarch of bitcoin and this is a problem.
We could either abandon bitcoin for a better alt-coin, or inflate away the oligarchs holdings by increasing the bitcoin money supply by 1000 to max 21 billion coins so his coin only will be worth 1/1000 of today.

pozmu

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Quote from: relgub on March 04, 2014, 03:50:51 AM

Having 1 million btc is a complete obscenity.

He should start giving them away somehow.

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

What do you think?

+1
But I don't think it will happen
Just read his early posts on mailing list - he knew/ was hoping what will happen from the very beggining that's why he decided to hold
I just hope he'll use his some of his BTC for good causes

DobZombie

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Quote from: tokeweed on March 04, 2014, 06:30:46 AM

Quote from: relgub on March 04, 2014, 03:50:51 AM

Having 1 million btc is a complete obscenity.

He should start giving them away somehow.

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

What do you think?

would you give it all away if you had it?

I would probably donate a good chunk of it, or setup a foundation ( Bitcoin or charity). US$10,000,000 is more than enough to live a comfortable life, living off of interest.

I'd like to think not everyone on earth is a greedy pig.

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

amspir

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Quote from: mateo on March 04, 2014, 06:39:46 AM

Which is probably the point. If I had a million coins, there's no way in hell I would just give them away and neither would you, but it's bad for the supposedly decentralized Bitcoin in general, when one person/entity holds almost 10% of the entire supply and thus has the power to kill it for years.

If I'm doing my math right, miners will mine what Satoshi allegedly holds in 278 days. His share drops from 10% to 9%. His power to "kill" bitcoin will degrade over time.

mateo

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Quote from: Beliathon on March 04, 2014, 06:45:00 AM

Quote from: mateo on March 04, 2014, 06:39:46 AM

Quote from: amspir on March 04, 2014, 06:23:22 AM

Quote from: relgub on March 04, 2014, 03:50:51 AM

Having 1 million btc is a complete obscenity.

He should start giving them away somehow.

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

What do you think?

A million btc is not worth what you think. If a million BTC were to be sold or given away in a short period, it would crash the market -- devaluing bitcoin in general, and devaluing your own coins.

Which is probably the point. If I had a million coins, there's no way in hell I would just give them away and neither would you, but it's bad for the supposedly decentralized Bitcoin in general, when one person/entity holds almost 10% of the entire supply and thus has the power to kill it for years.

The creator(s) of bitcoin will let it grow and develop for years only to suddenly and anonymously "kill" (not what would actually happen) it years later?

Seems likely.

Completely missed the point. I don't know what is he gonna do and neither do you. The problem is that he CAN do it.

Beliathon

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Quote from: mateo on March 04, 2014, 06:39:46 AM

Quote from: amspir on March 04, 2014, 06:23:22 AM

Quote from: relgub on March 04, 2014, 03:50:51 AM

Having 1 million btc is a complete obscenity.

He should start giving them away somehow.

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

What do you think?

A million btc is not worth what you think. If a million BTC were to be sold or given away in a short period, it would crash the market -- devaluing bitcoin in general, and devaluing your own coins.

Which is probably the point. If I had a million coins, there's no way in hell I would just give them away and neither would you, but it's bad for the supposedly decentralized Bitcoin in general, when one person/entity holds almost 10% of the entire supply and thus has the power to kill it for years.

The creator(s) of bitcoin will let it grow and develop for years only to suddenly and anonymously "kill" (not what would actually happen) it years later?

Seems likely.

mateo

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Activity: 87

Merit: 10

Quote from: amspir on March 04, 2014, 06:23:22 AM

Quote from: relgub on March 04, 2014, 03:50:51 AM

Having 1 million btc is a complete obscenity.

He should start giving them away somehow.

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

What do you think?

A million btc is not worth what you think. If a million BTC were to be sold or given away in a short period, it would crash the market -- devaluing bitcoin in general, and devaluing your own coins.

Which is probably the point. If I had a million coins, there's no way in hell I would just give them away and neither would you, but it's bad for the supposedly decentralized Bitcoin in general, when one person/entity holds almost 10% of the entire supply and thus has the power to kill it for years.

tokeweed

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Quote from: relgub on March 04, 2014, 03:50:51 AM

Having 1 million btc is a complete obscenity.

He should start giving them away somehow.

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

What do you think?

would you give it all away if you had it?

bitvestor

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Quote from: relgub on March 04, 2014, 03:50:51 AM

Having 1 million btc is a complete obscenity.

He should start giving them away somehow.

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

What do you think?

He earned it like everyother person, he never cheated the system like the govt did to print bill/ bitcoins. Bitcoin is a system where you have to work for it before you can have, so prolly he computer was at work during the founding process and we joined too, so its up to him to give out and moreover billgate has lots of cah will you ask him to give them out because he has so much?

amspir

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Quote from: relgub on March 04, 2014, 03:50:51 AM

Having 1 million btc is a complete obscenity.

He should start giving them away somehow.

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

What do you think?

A million btc is not worth what you think. If a million BTC were to be sold or given away in a short period, it would crash the market -- devaluing bitcoin in general, and devaluing your own coins. That would be an obscenity.

If Satoshi is not into criminal money laundering or tax evasion, then his fiat capital gains will be taxed when they are converted into fiat in accordance with his local government's taxing authority and will be redistributed then.

Feri22

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Quote from: relgub on March 04, 2014, 03:50:51 AM

Having 1 million btc is a complete obscenity.

He should start giving them away somehow.

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

What do you think?

No he shouldn't...

amitrwt

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Quote from: porcupine87 on March 04, 2014, 04:13:49 AM

he should do nothing and just throw away the private keys (if he hasn't done yet). He should, in my own interest. But he has the right to do everything with his coins. Don't you think he earned it? (or they, I am pretty sure, Satoshi is a group of people)

will it always remain a mystery whether Satoshi is He or They and BTW why not She :p ..? Or someday someone will crack this mystery ..?

jl2012

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Quote from: relgub on March 04, 2014, 03:50:51 AM

What do you think?

None of your business. If you don't like it, just don't use it. Bitcoin is not a legal tender, you have the freedom to use it or not

El Dude

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

porcupine87

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hm

he should do nothing and just throw away the private keys (if he hasn't done yet). He should, in my own interest. But he has the right to do everything with his coins. Don't you think he earned it? (or they, I am pretty sure, Satoshi is a group of people)

relgub

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Having 1 million btc is a complete obscenity.

He should start giving them away somehow.

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

What do you think?

Topic: Satoshi should give away a good chunk of the 1.000.000 btc he has - page 4. (Read 5591 times)