this post was submitted on 04 Aug 2024
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Bitcoin is Stupid and Does Not Deserve an Emoji (blog post) (thedabbler.patatas.ca)
submitted 3 months ago* (last edited 3 months ago) by smallpatatas@lemm.ee to c/technology@lemmy.world
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35 crypto companies got together to make a change dot org petition called "Bitcoin Deserves an Emoji".

F that

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[โ€“] AlDente@sh.itjust.works 2 points 3 months ago (1 children)

No single wallet has even close to 1 million Bitcoins. It's a public block chain and you can find a list of the largest wallets in a website like this: https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html

Also, regarding the unfair advantage of the genesis block, Bitcoin's code was actually written in a way that prevents this balance from being transfered. It's forever locked in the wallet at this address: 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa.

[โ€“] dhork@lemmy.world 1 points 3 months ago

True, the Genesis Block is fixed, but it's speculated that Satoshi did most of the mining during Bitcoin's initial experiment. I have seen estimates online that the first 22k blocks were mined almost exclusively by Satoshi, all to different BTC addresses, 50 BTC each. Worth practically nothing back then but worth over 2.5M today. Every 10 minutes or so, Satoshi found another one.