Come throw a coin in the BTC wishing well \ stacker news ~bitcoin

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Come throw a coin in the BTC wishing well

341 sats \ 23 comments \ @satgoob 22h bitcoin

Come all ye stackers!

Make a wish in the Bitcoin wishing well!

I have only seen these in person and rarely carry change, so I wanted to make this with a burn wallet. If you are seeing this thread, it is your sign to make a wish and burn some sats! And unlike a normal wishing well, you’re helping other stackers increase the value of their stack through scarcity.

1wishingweLLxxxxxxxxxxxxxxxyQQ3py

May all your wishes come true 🤝🙏🏻

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55 sats \ 5 replies \ @Scoresby 22h

Why would burning sats be a good thing? Would btc be better if satoshi had a proclivity for 11 million instead of 21?

102 sats \ 0 replies \ @DarthCoin 10h

Because people are retarded

102 sats \ 3 replies \ @satgoob OP 22h

Objectively on a personal level this is throwing away sats but I thought the concept was fun enough to toss a small amount. This doesn’t help you financially and does hurt you

If someone else burns sats your value goes up

Practically it maybe VERY marginally contributes to divisibility issues, but given how divisible BTC is it doesn’t move the needle

0 sats \ 2 replies \ @Scoresby 22h

I hear you. Didn't mean to come off critical, but I've always been curious about the "burn as donation" concept. I'm pretty sure even Satoshi mentioned it.

At the same time, I wonder if there is some number if burned/lost sats beyond which we all start to wonder...

102 sats \ 0 replies \ @satgoob OP 21h

102 sats \ 0 replies \ @satgoob OP 22h

I didn’t mean to take it critically - I just figured I’d lay it out that way because you’re probably not going to the last person to question that

11 sats \ 5 replies \ @teemupleb 4h

Seems dumb. Then a larger proportion of the supply will be controlled by Blackrock and treasury companies captured by the governments.

0 sats \ 4 replies \ @satgoob OP 3h

What impact does that have on other holders?

11 sats \ 3 replies \ @teemupleb 3h

Number goes up sure but less sats will be in retail self-custody, running nodes etc.

0 sats \ 2 replies \ @satgoob OP 2h

But does that practically matter? Isn’t the risk mainly in some group conducting a 51% attack? You can still hold and transact, just from a smaller pool - it wouldn’t seem to change much operationally afaik

26 sats \ 1 reply \ @teemupleb 2h

Possible future forks that benefit the proof of weapons network (government) could be easier to implement if less people were owning real bitcoin and running nodes

0 sats \ 0 replies \ @satgoob OP 2h

Thanks - I'll look into forking

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5 sats \ 0 replies \ @hasherstacker 6h

"Spend your sats wisely". @DarthCoin said so. And that's very important

42 sats \ 6 replies \ @topsecret 20h

I always thought Satoshi's genesis block address served this purpose.

6 sats \ 5 replies \ @bitcoingraffiti 19h

yes, wouldn't this be a much better idea than to trust some other random address someone probably might hold the keys of?

0 sats \ 4 replies \ @satgoob OP 19h

Does the string of characters insufficiently convince you? It’s a good question

20 sats \ 2 replies \ @bitcoingraffiti 18h

Haha lol. It's been a while since I coded on Bitcoin. Yeh, very very very very small chance, right? Like one atom in the entire universe? Who knows... Maybe the gods of chance were favorable and you had a brute force miracle on a glitchy computer. Let's just send it to Naka, k?

0 sats \ 0 replies \ @satgoob OP 14h

Genesis block: 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa

Dude some people are sending hefty amounts to the genesis block

0 sats \ 0 replies \ @satgoob OP 18h

Would be funny if this post were the result of a lucky brute force and I was trying to grab money

0 sats \ 0 replies \ @satgoob OP 18h