The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime.
SATOSHI NAKAMOTOBitcoin generation should end up where it’s cheapest. Maybe that will be in cold climates where there’s electric heat, where it would be essentially free.
More Satoshi Nakamoto Quotes
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You could say coins are issued by the majority. They are issued in a limited, predetermined amount.
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I’m sure that in 20 years there will either be very large transaction volume or no volume.
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Imagine if gold turned to lead when stolen.
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Subscription sites that need some extra proof-of-work for their free trial so it doesn’t cannibalize subscriptions could charge bitcoins for the trial.
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Writing a description for this thing for general audiences is bloody hard. There’s nothing to relate it to.
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Bitcoin addresses you generate are kept forever. A bitcoin address must be kept to show ownership of anything sent to it. If you were able to delete a bitcoin address and someone sent to it, the money would be lost.
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Only people trying to create new coins would need to run network nodes.
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Bitcoin isn’t currently practical for very small micropayments.
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The utility of the exchanges made possible by Bitcoin will far exceed the cost of electricity used. Therefore, not having Bitcoin would be the net waste.
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Lost coins only make everyone else’s coins worth slightly more. Think of it as a donation to everyone.
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The heat from your computer is not wasted if you need to heat your home.
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For greater privacy, it’s best to use bitcoin addresses only once.
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When someone tries to buy all the world’s supply of a scarce asset, the more they buy the higher the price goes.
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Bitcoin would be convenient for people who don’t have a credit card or don’t want to use the cards they have.
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Bitcoins have no dividend or potential future dividend, therefore not like a stock. More like a collectible or commodity.
SATOSHI NAKAMOTO