Sending 0.00000001 BTC and a remainder of 49.99999999

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: distributedconsensus on June 03, 2020, 07:49:52 AM

only those SN mined, for it was his initial idea to distribute them around so they become a currency that~

OK. but first lets start with YOUR coins. i say we must distribute any bitcoin YOU hold because i am singling YOU out the same way you are singling Satoshi out, with similar reasons: because it is YOU and i consider any coins sent to your addresses to be lost.
for every 1BTC of yours distributed we will follow it up with distributing 1BTC from Satoshi.
do you see my point?

TheArchaeologist

sr. member

Activity: 310

Merit: 727

---------> 1231006505

Quote from: distributedconsensus on June 13, 2020, 06:12:17 AM

https://etherscan.io/tx/0xca8f8c315c8b6c48cee0675677b786d1babe726773829a588efa500b71cbdb65

So how exactly is this ether transaction related to Satoshi's vision of bringing old coins back to life? (Your words btw, not mine)

distributedconsensus

newbie

Activity: 13

Merit: 1

https://etherscan.io/tx/0xca8f8c315c8b6c48cee0675677b786d1babe726773829a588efa500b71cbdb65

TheArchaeologist

sr. member

Activity: 310

Merit: 727

---------> 1231006505

Quote from: distributedconsensus on June 12, 2020, 06:57:03 AM

It was not a mistake. Has been done again yesterday. You will see it in BTC soon, then we talk.

Can you share the transaction-id's?

distributedconsensus

newbie

Activity: 13

Merit: 1

It was not a mistake. Has been done again yesterday. You will see it in BTC soon, then we talk.

chronicsky

legendary

Activity: 2828

Merit: 1222

Just looking for peace

Quote from: distributedconsensus on June 11, 2020, 03:05:56 PM

Quote from: chronicsky on June 02, 2020, 12:32:56 PM

Quote from: distributedconsensus on May 30, 2020, 10:15:23 PM

This is Satoshi’s idea to reintroduce the first blocks into the system by generating huge fees and thus interesting block rewards by bringing back to the system those old coins. I am not sure when will start to happen, probably in the next halving.

Not sure which block you referring to, but the recently moved coins didn't do that.
Also, that's your interpretation of his ideology, not Satoshi's. But that's the beauty of anonymity, feel free to find your own ideology- don't put his name on it though.

Regardless, no that idea doesn't make sense.
People use bitcoin for it's low fees, now giving out all that saved up sats wont do you much good with fees like that.

Unless you feel like giving back to the Miners, go nuts...

This is what I meant to increase miners rewards and reintroduce/recycle old coins: https://www.coindesk.com/whale-sent-130-ether-transaction-fee

Did you even read the article? It might have been a mistake. The reason is still not sure.
All aside, it doesn't give reason to what you said in any way.

distributedconsensus

newbie

Activity: 13

Merit: 1

Quote from: chronicsky on June 02, 2020, 12:32:56 PM

Quote from: distributedconsensus on May 30, 2020, 10:15:23 PM

This is Satoshi’s idea to reintroduce the first blocks into the system by generating huge fees and thus interesting block rewards by bringing back to the system those old coins. I am not sure when will start to happen, probably in the next halving.

Not sure which block you referring to, but the recently moved coins didn't do that.
Also, that's your interpretation of his ideology, not Satoshi's. But that's the beauty of anonymity, feel free to find your own ideology- don't put his name on it though.

Regardless, no that idea doesn't make sense.
People use bitcoin for it's low fees, now giving out all that saved up sats wont do you much good with fees like that.

Unless you feel like giving back to the Miners, go nuts...

This is what I meant to increase miners rewards and reintroduce/recycle old coins: https://www.coindesk.com/whale-sent-130-ether-transaction-fee

distributedconsensus

newbie

Activity: 13

Merit: 1

First coins were generated by installing the program in a windows XP computer and instructing your node to do so. It took no effort at all to do that, it was running in the background like we ere running adds in a browser to generate some cash, same thing.

Transforming old Coinbase transactions into fees make those BitCoins usable again. I am not saying this is what will happen to all those early coins, only those SN mined, for it was his initial idea to distribute them around so they become a currency that actually trades and store value in a deflationary system. When block rewards halve every four years it will probably drive some miners out of the market but it eventually reduces the difficulty so less powerful ASICs can be reused again and the network expands more and more in a truly decentralized network that verifies blocks over and over. Having huge fees bigger than the block reward would be awesome.

But it is true that anything can happen, BTC can be a way to store value or it can be a rabbit hole to get rid of surplus of cash in the world. Who knows.

chronicsky

legendary

Activity: 2828

Merit: 1222

Just looking for peace

Quote from: distributedconsensus on May 30, 2020, 10:15:23 PM

This is Satoshi’s idea to reintroduce the first blocks into the system by generating huge fees and thus interesting block rewards by bringing back to the system those old coins. I am not sure when will start to happen, probably in the next halving.

Not sure which block you referring to, but the recently moved coins didn't do that.
Also, that's your interpretation of his ideology, not Satoshi's. But that's the beauty of anonymity, feel free to find your own ideology- don't put his name on it though.

Regardless, no that idea doesn't make sense.
People use bitcoin for it's low fees, now giving out all that saved up sats wont do you much good with fees like that.

Unless you feel like giving back to the Miners, go nuts...

Velkro

legendary

Activity: 2296

Merit: 1014

Quote from: stompix on June 01, 2020, 07:39:23 AM

It always amazes me how people claim they know what Satoshi's ideas were, full of crystal globe specialists around here.
What I can tell you for sure is that one of his ideas was that nobody should decide how your coins are used, this is not some socialist society where you decide what to do with other people's coins, their keys, their coins, they can leave them for eternity unspent, it is still their property and you have zero rights to do anything about it.

Agree 100%. This is not first 'idea' like this. People all the time coming back with idea to take from rich and give to the poor.
They have no clue about economy or how deep and wide repercussions would ensue.
This is not how it should be, people have freedom to do with their money what they want and nobody should have anything to say about it.

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

Quote from: distributedconsensus on May 30, 2020, 10:15:23 PM

This is Satoshi’s idea to reintroduce the first blocks into the system by generating huge fees and thus interesting block rewards by bringing back to the system those old coins.

It always amazes me how people claim they know what Satoshi's ideas were, full of crystal globe specialists around here.
What I can tell you for sure is that one of his ideas was that nobody should decide how your coins are used, this is not some socialist society where you decide what to do with other people's coins, their keys, their coins, they can leave them for eternity unspent, it is still their property and you have zero rights to do anything about it.

Quote from: distributedconsensus on May 30, 2020, 10:15:23 PM

I am not sure when will start to happen, probably in the next halving.

I'm going to tell you the exact date, with 0.71 millisecond precision, NEVER!

CryptoWorld87

full member

Activity: 406

Merit: 100

kingcasino.io

Quote from: distributedconsensus on May 30, 2020, 10:15:23 PM

This is Satoshi’s idea to reintroduce the first blocks into the system by generating huge fees and thus interesting block rewards by bringing back to the system those old coins. I am not sure when will start to happen, probably in the next halving.

Where did you get that idea? All bitcoins that already mine and lock on the un open wallet like some wallet that the key was already forgotten will not come back to mine again. That bitcoins will remain in cerculations but count as missing and waiting for someday someone can brute force that wallet key.

pooya87

legendary

Activity: 3472

Merit: 10611

the first block rewards are not locked away or burnt to want to be "reintroduced" into bitcoin! they are already in circulation even if they aren't moving. besides giving them to a miner as fee is not "reintroduction"! not to mention that you don't need to send 1 satoshi and give 50BTC-1sat as fee, the fee can be the whole 50 while the amount sent be zero.

Quote from: distributedconsensus on May 30, 2020, 10:15:23 PM

This is Satoshi’s idea

Satoshi's idea or yours?

distributedconsensus

newbie

Activity: 13

Merit: 1

This is Satoshi’s idea to reintroduce the first blocks into the system by generating huge fees and thus interesting block rewards by bringing back to the system those old coins. I am not sure when will start to happen, probably in the next halving.

Topic: Sending 0.00000001 BTC and a remainder of 49.99999999 (Read 767 times)