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The most likely explanation is that this is a sacrifice (from Merriam-Webster: “to suffer loss of, give up, renounce, injure, or destroy especially for an ideal
by apienx 3y ago
The most likely explanation is that this is a sacrifice (from Merriam-Webster: “to suffer loss of, give up, renounce, injure, or destroy especially for an ideal, belief, or end).
Idealists will have an easier time understanding what motivates such actions.
- ffgjgf1 3y agoYou have to be a special kind of nihilistic idealist to do this. Instead of actually making a similar “sacrifice” to accomplish something at least marginally useful..
- nullc 3y agoUnder the standard assumption that those coins will not reenter circulation, this act made everyone elses bitcoins very slightly more valuable. If that were the sender's goal it perhaps could have better been accomplished by provably burning the coins instead. So I'm dubious of that. I think it's either an accident or a publicity stunt or a very bizarre sideeffect of some deep bitcoin inside baseball.
- cykros 3y agoDon't forget, the 80s rave band The KLF burned 1 million GBP back in 1992, so this is hardly without precedent, or the largest event of its kind.
- quickthrower2 3y agoThat burn is for publicity so is the equivalent of spending a million on TV ads.
- easyThrowaway 3y agoFor the KLF being a dada/situationist act came first, and making techno came a distant second. It wasn't a completely random unexpected gesture, like the one in the OP.
- jampekka 3y agoSpending the coins actually means to get someone else to do something you think is useful. Money itself has no value. So essentially this can be seen as sacrificing power over other people and resources. Which IMHO should happen a lot more.