What would you do if you received unexpected bitcoin from a known entity? \ stacker news ~bitcoin

What would you do if you received unexpected bitcoin from a known entity?

16.7k sats \ 5000 boost \ 37 comments \ @TSW 11 Sep 2023 bitcoin

Following this recent transaction, I started thinking about this scenario again. Many of us have dreamed of receiving a lot of bitcoin, like hitting a significant jackpot.

What would you do if you received unexpected bitcoin from a known entity? Assumptions:

You know who the sender is
The sender is an entity that you are not typically fond of (let's say it is Binance)
They are familiar with the address that they sent it to and might realize their mistake sooner or later

Contact the sender right away32.7%

Wait 1yr before spending it17.3%

Wait 2yrs before spending it1.9%

Wait 5yrs before spending it7.7%

Wait 10yrs+ before spending it13.5%

Else, see comment!26.9%

52 votes \ poll ended

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30 sats \ 0 replies \ @Relight_Motion 11 Sep 2023

I'll contact the sender and return most of bitcoins for a small fee :)

42 sats \ 1 reply \ @Zepasta 11 Sep 2023

deleted by author

0 sats \ 0 replies \ @kepford 11 Sep 2023

Exactly.

88 sats \ 1 reply \ @pako 11 Sep 2023

Rent a boat

0 sats \ 0 replies \ @Jon_Hodl 12 Sep 2023

😂

41 sats \ 5 replies \ @BlokchainB 11 Sep 2023

Someone sent me 25k sats to my SN wallet and I still don’t know who or why! Been thinking about dumping it in the rewards pool so all of SN can benefit

10 sats \ 4 replies \ @Undisciplined 11 Sep 2023

Did it happen recently? I think @grayruby forgot to change his default zap setting back to a normal number after our football ante.

31 sats \ 3 replies \ @BlokchainB 11 Sep 2023

I think it was about a week ago

81 sats \ 2 replies \ @Undisciplined 11 Sep 2023

That's about the right timeline. I believe he's going to consider that a bank error in your favor.

10 sats \ 1 reply \ @BlokchainB 11 Sep 2023

Ahh if @grayruby can confirm this I’ll return the sats.

60 sats \ 0 replies \ @grayruby 11 Sep 2023

Wasn't me this time. I was dumb enough to do this and accidentally tipped weareallsatoshi 10k sats but he just laughed at me (well deserved) and sent them back. I didn't expect them to be returned to me. In fact, I said Merry Christmas after I realized what I did.

31 sats \ 1 reply \ @nullcount 11 Sep 2023

Spend immediately. Timechain is Law. HFSP. If they wanted to clawback, should've used fiat.

0 sats \ 0 replies \ @nullcount 11 Sep 2023

They call him a scammer, but he was just trying to give DEA a free airdrop. The pencil pushers at the DEA are to blame, but gov agencies cant comprehend personnel responsibility.

120 sats \ 8 replies \ @locomancell 11 Sep 2023

Bitcoin is integreity, so bitcoiners should be integral as well, that's the philosophy behind it. My 2 sats

0 sats \ 1 reply \ @Jon_Hodl 12 Sep 2023

I agree with this sentiment but if the sender is a known bad actor like FTX, Celsius, BlockFi, etc. I would feel an obligation to not return it to them because they have stolen billions of dollars worth of bitcoin from their users.

0 sats \ 0 replies \ @locomancell 12 Sep 2023

Well this then would be a spacial scenario where I also agree with you 🙌

0 sats \ 5 replies \ @nullcount 11 Sep 2023

The sending party should have the integrity to secure their sats

100 sats \ 4 replies \ @locomancell 11 Sep 2023

A mistake could happen to anyone, even to you my fren... imo, if we're not willing to change with the CHANGE, then what's the point of changing anyways?

10 sats \ 3 replies \ @nullcount 11 Sep 2023

Mistakes don't happen to people. People create mistakes. If a person made a mistake that lost their sats, they were never fit to hold those sats. There are no mistakes on the Timechain. Respect its integrity. No second chances. This is radical responsibility. You're free to fall for any scam, including sending back the "mistaken" sats. We shouldn't use out-of-band integrity to remedy this problem. Better to give holders the tools to mitigate loss themselves i.e. OP_VAULT, covenants, etc.

10 sats \ 2 replies \ @locomancell 11 Sep 2023

I respect your criteria but Sorry I don't agree. I am not raised to be like that ... though BTC is for everyone, no such thing this and that don't deserve no sats, like I said imo

10 sats \ 1 reply \ @nullcount 11 Sep 2023

FYI BTC is for ANYONE not everyone. Not enough UTXOs for everyone, never will be. Sats will accumulate to those addresses which are most fit to hold them on behalf of the 99%. There are technical reasons that make BTC a meritocracy. If you wanted welfare, go back to fiat.

102 sats \ 0 replies \ @locomancell 11 Sep 2023

Lol No need for the aggression bud.. I can respect but not agree.. nough said

13 sats \ 0 replies \ @TheWildHustle 11 Sep 2023

Would think that it was god looking out for me, and continue about my day.

60 sats \ 0 replies \ @TheBTCManual 11 Sep 2023

Lol coinjoin and lock it up, fall asleep for 5 years and keep stacking, lessons need to be learned the hard way

60 sats \ 0 replies \ @BITC0IN 11 Sep 2023

coinjoin and spend

100 sats \ 0 replies \ @newnym 11 Sep 2023

If someone sent bitcoin to an address that I own then that probably means that it is a publicly known address, and as such could easily be linked to me. In that case I would contact said entity (and try to negotiate a "finders fee", hehe).

10 sats \ 0 replies \ @Jon_Hodl 12 Sep 2023

Since that the sender is a bad actor in your scenario, those sats would be going directly into CoinJoin where they would later be put to use to fund a lot of FOSS pleb projects.

If I knew the sender and respected them (which is not part of your scenario), I would contact them and return them.

55 sats \ 0 replies \ @satoshi_in_the_classroom 12 Sep 2023

I mean. Lol.... yeaaaaah

10 sats \ 0 replies \ @2bithits 11 Sep 2023

If they can prove it was theirs you should probably give it back.

10 sats \ 0 replies \ @BBitcoinUSA 11 Sep 2023

Good question, lots of variables to consider. On the one hand being dishonest and keeping it would help strengthen the habits of the network participants overall, overtime, and therefore strengthen the network as a whole, but doing so would make some of us feel like spineless degenerates. I’d probably return the btc and indicate that I’d gladly accept a kick-back in return for my good deed, and the advertise their good deed heavily within my network

10 sats \ 0 replies \ @sudonaka 11 Sep 2023

send it to the FBI of course =D

0 sats \ 0 replies \ @Zorba 12 Sep 2023

Glad

0 sats \ 0 replies \ @iguano 12 Sep 2023

Not hes keys not his coins?

0 sats \ 0 replies \ @Chungus 12 Sep 2023

Whirlpool it all

0 sats \ 0 replies \ @falsefaucet 11 Sep 2023

mix

0 sats \ 0 replies \ @JohnRawlins 11 Sep 2023

put it in a hidden wallet cold storage. it was a gift from the most high, YHVH, use wisely. give some to charitable needs, but not charities which are all ngo fronts of the cabal..

0 sats \ 0 replies \ @TSW OP 11 Sep 2023

Thanks for the reactions so far. Aside from what is pointed out, it also depends on the local law. Where I'm from, you must actively reach out to the sender in this case!