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Neovim have a ~$800k Bitcoin donation sitting untouched since 2023

320 points · 277 comments · jakemanger

  1. seymon · · focus · HN ↗
    I hope they still have the private key.
    1. osigurdson · · focus · HN ↗
      It is an interesting fact about Bitcoin in general. There are 21M tokens in total AND some percentage are lost every year. Run this simulation long enough and there will be very few active Bitcoins remaining.
      1. Roark66 · · focus · HN ↗
        Seems pretty silly to build in deflation into a currency. It incentivises putting your money in a mattress for 100 years.
        1. benenrjdnz · · focus · HN ↗
          Deflation is a good thing, it rewards delayed gratification. Those evil Keynesians have convinced the world a little bit of inflation is good. It isn’t. Losing purchasing power on your money is a bug.

          Nothing wrong with putting money under a mattress for 100y if the value of money is not evaporating.

          For most of human history the money was stable. It’s the disasters of 20th century wars that eroded the value, and 21st century lack of monetary discipline that keeps driving it down now.

          1. FeepingCreature · · focus · HN ↗
            The point of money is not to reward delayed gratification. The point of money is to efficiently tabulate human preferences, and deflation directly counteracts this by introducing potentially unbounded latency at every step. That's why it destroys economies, as it has throughout history.
            1. benenrjdnz · · focus · HN ↗
              Can you provide an example of deflation destroying an economy in history? There are many more examples of inflation destroying economies.
              1. gwbas1c · · focus · HN ↗
                The problems with using physical gold as currency are very well known. When population would increase, or when someone would hoard it, it would cause deflation. Likewise, when a new deposit of gold was found, it would cause inflation.

                This is, in part, why there were expeditions to find gold.

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