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Topic: Should Satoshi's coins be deleted? - page 3. (Read 5152 times)

legendary
Activity: 1988
Merit: 1012
Beyond Imagination
April 23, 2015, 07:58:03 PM
#68
I kept looking at the OP's poll, and the only available answers were 'yes' and 'no'. 

Can we edit the poll to add a 'That's a Stupid Question' button?



Well, I agree that this is a rather stupid question, but I think it would be a wise thing to do to explain to him why it really doesn't matter whether those coins are still available or not. Also it is very important to understand why this really wouldn't hurt Bitcoin by undermining one of it's key principles.

Central banks hold 1/3 of world's gold reserve, should they destroy them? What if they dump all the gold on market and crash the gold price to cents?

Even central banks decided to dump small amount of gold, they would still do it gradually, to not affect the market price too much
hero member
Activity: 686
Merit: 500
A pumpkin mines 27 hours a night
April 23, 2015, 05:50:34 PM
#67
I kept looking at the OP's poll, and the only available answers were 'yes' and 'no'. 

Can we edit the poll to add a 'That's a Stupid Question' button?



Well, I agree that this is a rather stupid question, but I think it would be a wise thing to do to explain to him why it really doesn't matter whether those coins are still available or not. Also it is very important to understand why this really wouldn't hurt Bitcoin by undermining one of it's key principles.
legendary
Activity: 924
Merit: 1129
April 23, 2015, 05:39:14 PM
#66
I kept looking at the OP's poll, and the only available answers were 'yes' and 'no'. 

Can we edit the poll to add a 'That's a Stupid Question' button?

legendary
Activity: 1610
Merit: 1183
April 23, 2015, 05:31:37 PM
#65
For the record, these are thought to be coins under the control of Satoshi. Since they have never moved after they were mined, It is quite possible that these are now inaccessible.

Probably he freezed them on purpose. I can imagine him being a man of higher morals and thinking "well, a single entity doesn't need to be in control of this ridiculous amounts of coins" and forgot the password to freeze them forever and help the overall scarcity factor.
hero member
Activity: 518
Merit: 500
Trust me!
April 23, 2015, 05:26:06 PM
#64
Why should satoshis coins be deleted? He is the founder of bitcoin. Without him, we all wouldnt be here at this forum. Dont you think he should at least get a reward for it?!

Well it is up to every miner and everyone who is running a full node to decide whether coins should be deleted or not. I think such a precedent would be something very very bad to BTC since it would destroy the fungibility of the underlying asset. No one could be sure that their coins wouldn't be the next to be deleted.
legendary
Activity: 2170
Merit: 1427
April 23, 2015, 05:19:41 PM
#63
I don't mind Satoshi his coins at all, he deserves them in full if he really happens to have that many coins. Deleting coins/value is never a good idea.

I'm also pretty sure that these coins won't move as he had the chance to sell his coins at the +$1000 peak if he wanted to. Coins will sleep for ever.

legendary
Activity: 1190
Merit: 1004
April 23, 2015, 05:07:04 PM
#62
I think yes, a 21% instamine is ridiculous. It gives a bad name to BTC.

I would want to give them to Mark Zuckerberg and have him distribute them on facebook.

No coins earned/worked for by our inventor/s should be dictated what should be done with them by anyone except them lol We are nobody's in the scheme of things it was created to help us all climb out from under the banks control and be our own bank plus a whole brilliant things and you want to repay that buy deleting his/their coins?!

Come on dude that is what is ridiculous like your grasp on how many and how the coins was acquired he worked for them as did every other miner, should we delete them all  Cheesy   

It would be awesome for you to give the coins to that zuckerberg because you would not be losing much by everyone of the distributed coins getting dumped on our face and crash the price more than we can ever imagine.

Even better. Let's take the coins owned by the Winklevoss twins and give them to Mark Zukerberg! lol

Damn, F-ed again!  Cheesy

LOL that's funny.

legendary
Activity: 3066
Merit: 1147
The revolution will be monetized!
April 23, 2015, 05:01:54 PM
#61
I think yes, a 21% instamine is ridiculous. It gives a bad name to BTC.

I would want to give them to Mark Zuckerberg and have him distribute them on facebook.

No coins earned/worked for by our inventor/s should be dictated what should be done with them by anyone except them lol We are nobody's in the scheme of things it was created to help us all climb out from under the banks control and be our own bank plus a whole brilliant things and you want to repay that buy deleting his/their coins?!

Come on dude that is what is ridiculous like your grasp on how many and how the coins was acquired he worked for them as did every other miner, should we delete them all  Cheesy   

It would be awesome for you to give the coins to that zuckerberg because you would not be losing much by everyone of the distributed coins getting dumped on our face and crash the price more than we can ever imagine.

Even better. Let's take the coins owned by the Winklevoss twins and give them to Mark Zukerberg! lol

Damn, F-ed again!  Cheesy
sr. member
Activity: 350
Merit: 250
'Slow and steady wins the race'
April 23, 2015, 04:58:20 PM
#60
I think yes, a 21% instamine is ridiculous. It gives a bad name to BTC.

I would want to give them to Mark Zuckerberg and have him distribute them on facebook.

No coins earned/worked for by our inventor/s should be dictated what should be done with them by anyone except them lol We are nobody's in the scheme of things it was created to help us all climb out from under the banks control and be our own bank plus a whole brilliant things and you want to repay that buy deleting his/their coins?!

Come on dude that is what is ridiculous like your grasp on how many and how the coins was acquired he worked for them as did every other miner, should we delete them all  Cheesy   

It would be awesome for you to give the coins to that zuckerberg because you would not be losing much by everyone of the distributed coins getting dumped on our face and crash the price more than we can ever imagine.
hero member
Activity: 714
Merit: 503
April 23, 2015, 04:50:26 PM
#59


If there was a way to get rid of satoshi's coins. Should they be deleted?






It always depends on the use they would be for and the amount.
But it is never good that only one person have that high percentage of bitcoins,because that is what we want to avoid here,centralization,and that is what happens if he has that huge amount
legendary
Activity: 3066
Merit: 1147
The revolution will be monetized!
April 23, 2015, 04:33:08 PM
#58
For the record, these are thought to be coins under the control of Satoshi. Since they have never moved after they were mined, It is quite possible that these are now inaccessible.
legendary
Activity: 1652
Merit: 1007
DMD Diamond Making Money 4+ years! Join us!
April 23, 2015, 04:24:35 PM
#57
The man created this beautiful industry, gave you the opportunity to be here and you want to leave him/her penniless. Why?
legendary
Activity: 1652
Merit: 1015
April 23, 2015, 04:17:43 PM
#56
Perhaps deleting OPs coins would be a better idea. Cheesy
sr. member
Activity: 280
Merit: 250
Bro, you need to try http://dadice.com
April 23, 2015, 03:34:23 PM
#55
Why should satoshis coins be deleted? He is the founder of bitcoin. Without him, we all wouldnt be here at this forum. Dont you think he should at least get a reward for it?!
hero member
Activity: 518
Merit: 500
April 23, 2015, 01:19:07 PM
#54
Satoshi's coins just as a time bomb, when he cashout, the market will definitely collapse, but we have no right to delete his coins, if this happened, the bitcoin will die, think about it, your wealth can be deleted, it's crazy.
Why would satoshi destroy what him and everyone else here created? I Like to think that if he ever comes back at that time many places will accept bitcoin and he will just use it. Bill Gates doesnt spend all his money or convert it all to euro
legendary
Activity: 1148
Merit: 1011
In Satoshi I Trust
April 23, 2015, 01:17:00 PM
#53


I think yes, a 21% instamine is ridiculous. It gives a bad name to BTC.

I would want to give them to Mark Zuckerberg and have him distribute them on facebook.





when they never move, that is no problem.
hero member
Activity: 1582
Merit: 502
April 23, 2015, 01:13:53 PM
#52
There is NO chance you can ever find out how much or which coins belong to Satoshi because: http://blog.dustintrammell.com/2013/11/26/i-am-not-satoshi/
full member
Activity: 151
Merit: 100
April 23, 2015, 12:33:13 PM
#51
If there was a way to get rid of satoshi's coins. Should they be deleted?
No. In my opinion, if you 'delete' satoshi's coins, you're basically going to destroy Bitcoin. Think about it, where would be the limit? How about deleting the lost Mt. Gox coins too? And how would you feel if someday suddenly all your own coins are gone?
legendary
Activity: 3654
Merit: 1217
April 23, 2015, 11:46:24 AM
#50
Only one block was ever spent, the rest are where they are. It is very likely that Satoshi doesn't have access to them either.

Probably he threw away the coins, as he was more of an ideologically driven person, than a money-driven one. Also, he might have never expected the Bitcoin to become so valued. Anyway, it is good news for the rest of the users.

i beg to differ, he was expecting farm to grow big as they are right now, thus he was expecting a good price for bitcoin too(probably even more than 1k in 5 years) and a better adoption.

I agree with these two points in your post:

1. He was expecting BTC to grow big
2. He was expecting widespread adoption of Bitcoin

However, I disagree with this point:

1. He was expecting a high exchange rate for BTC, in comparison to fiat. (Satoshi was an ideologically driven individual. Exchange rates would be of no importance for him).
sr. member
Activity: 254
Merit: 1258
April 23, 2015, 10:39:33 AM
#49


I think yes, a 21% instamine is ridiculous. It gives a bad name to BTC.

I would want to give them to Mark Zuckerberg and have him distribute them on facebook.




he didn't instamine shit, because the diff started form one on bitcoin, you know this right? apparently not, also he did it for testing, and the price was like zero back then, nothing to compare with modern crapcoin
With such a high rating it means he has been here a long time and he should know this by now, I have no clue why he doesn't.
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