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> I like how you think that creating bitcoin was no work at all. I never said or implied that. > isn't that a bit like mark Zuckerberg making a large fortune
by vectorpush 11y ago
> I like how you think that creating bitcoin was no work at all.
I never said or implied that.
> isn't that a bit like mark Zuckerberg making a large fortune from creating Facebook?
Facebook is a company, Zuckerberg made a large fortune because investors and advertisers gave money directly to his company.
> And they were not zero cost, initially they would have expense to make something that had no value.
I said close to zero; the point being that pre-miners and Satoshi put in a negligible amount of computational effort relative to the payoff, especially when you consider the staggering sum of coins mined.
> he turned them off when there was a stable network that didn't need his mining power
I'm not trying to judge Satoshi's intentions or values, though it's pretty obvious that continuing to amass even larger sums of bitcoin wouldn't have made the community very comfortable. Still, 5% of the entire money supply seems pretty significant for a currency that's the ostensible future of money.
- celticninja 11y ago> Satoshi put in a negligible amount of computational effort relative to the payoff Yes but he put in a metric fuck ton of work imagining and coding bitcoin. Comparing bitcoin to a pre-mined alt-coin is disingenous. Bitcoin is different because it came first, it needed those coins to be mined for the network to exist. Alt-coins that were pre-mined were pre-mined specificaly to create an advantage for the author of the system after seein the success of bitcoin. Satoshi cannot be said with having done this. He didnt know the success that would follow on from his experiment and he didnt pre-mine, he just made up a large part of the network in the early days.