‹ BackHN Continuity

Thread

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. AIiscoming · · focus · HN ↗
            The right thing would be to have 0 change in the value of money as long as the right amount of money exists.

            The right maount of money is the amount of money we as normal humans need to work with (buying and selling stuff).

            Inflation and deflation are results of too much money or too little money in comparision to the production capability of a society.

            If i save today for my retirement and money gets less valuable when i'm retired, i have to give more 'saved' capacity back to get the real capacity (people taking care of me) and if i have more value, the others have to do more for me.

            Controlling this is 'work' from experts and is not solved by bitcoin btw.

            1. donavanm · · focus · HN ↗
              The normal term would be “velocity” of money, btw. Its a key consideration in addition to total supply whenever you need to evaluate inflation or manias.
Open on Hacker News to reply ↗

Unofficial Hacker News client; not affiliated with Y Combinator.