2050 satoshi coins distribute to the world \ stacker news ~bitcoin

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2050 satoshi coins distribute to the world

33 sats \ 12 comments \ @2bithits 31 Jul 2022 bitcoin

What does SN think of this:

If satoshi hasn't claimed his coins by 2050, we implement a hard fork to use these coins for a fund to distribute evenly around 5-10k sats to everyone on earth.

Supply remains the same so early adopters still have their piece.

Interested to hear your thoughts

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175 sats \ 1 reply \ @m4 31 Jul 2022

Perhaps we should distribute your coins first.

7 sats \ 0 replies \ @2bithits OP 31 Jul 2022

Nah...

I'm good

225 sats \ 1 reply \ @sb 31 Jul 2022

Absolutely not. This Fiat mindset of "equality of outcome" needs to end. Bitcoin provides "equality of opportunity". Everyone in the world has had the opportunity to stack sats for the last decade. Everyone in the world has a chance to stack sats today. Yet, people have high time preference and choose to gamble in shitcoin casinos. Luck, of course, plays a role. Such is life. Life is unfair.

Satoshi's coins are Satoshi's forever just like mine are mine forever. End of story.

7 sats \ 0 replies \ @2bithits OP 31 Jul 2022

Fair enough

127 sats \ 3 replies \ @plntmls 31 Jul 2022 freebie

the answer has already been said, @sb "absolutely not".

there's no good reason to destroy bitcoin by introducing fiat redistribution policies.

if you are stuck on the notion of lost coins, you can at least tell yourself a story about the future of computing power catching up with wallets frozen in time. the network is forced to evolve over time, and you can imagine a point in the future, due to mythical quantum computing becoming reality or some other unexpected attack on the algorithm, where new users will move to better secured keys, but the wallets of lost keys, the currently dead bitcoins, could be brought back as technology catches up with them. I don't find that a likely outcome in the next decades, but over the next 100 years, seems at least possible.

1 sat \ 2 replies \ @captain_stacks 31 Jul 2022

Wouldn't that be an argument in favor of redistributing the lost coins?

0 sats \ 1 reply \ @plntmls 31 Jul 2022

not at all, it's one possible future in which those wallets are reclaimed like gold from a spanish galleon. that's very different than "redistributing" by act of network fiat. whatever protocol allowed that would no longer be bitcoin, and would carry satoshi's curse to it's grave.

0 sats \ 0 replies \ @captain_stacks 1 Aug 2022

The market might decide otherwise.

107 sats \ 0 replies \ @hector 31 Jul 2022

I'm more concerned about what's going to happen when the mining rewards get to ~0.

I was thinking we could increase the block size, this way mining rewards (fees) could stay lucrative thus keeping the hashrate up.