Quote from: jinni on January 02, 2014, 01:41:27 AM

Quote from: cr1776 on January 02, 2014, 01:29:22 AM

Quote from: jinni on January 02, 2014, 01:11:24 AM

Making such a fund will make bitcoin gain legitimacy as everyone has a stake. Once you have 70BTC every human can have a stake in Bitcoin. At least on paper until the fingerprint reading equipment thing is sorted out. It would be in every Bitcoiners best interest to donate a portion of their holdings to such a fund.

Edit: in fact every Bitcoin-holder would benefit from giving away Bitcoin until it hits a sweet spot of potential increase in BTC price and BTC-percentage given away.

If you mean each person will have 70 btc, you may want to check the math. :-)

I meant 70 BTC is enough to give everyone one satoshi, and then everyone has a stake in making Bitcoin more valuable. If more than 70 btc comes in, then great, more satoshis for everyone. If 7000 btc kome in everyone will have 1000 satoshis. That means that the price has to go to $100k/btc for that to be worth $1, but it wont flood the market because it will take time to implement so that people can actually access their wallets. Price went up 100x in 2013. If 7000btc were given away as a free gift, the price could easily go up to $100k in 2014. And according to Dan Arielys Predictably Irrational, the best way to make someone want something is to give away a free gift.

I totally agree. I do not have a very large number of bitcoins, but I offer to give free bitcoin to everyone I discuss bitcoin with. People who would otherwise laugh at the idea and never consider it seriously instead download a wallet, receive a few dollars worth of bitcoin, see how it works, and come away thinking that it is pretty cool. I also encourage them to tell their friends and invite them to come meet me. If everyone who owns more than 100 BTC (~10,000 people) decided to give away 0.01 BTC (1 BTC total) to 100 people, then there would be 1 million new bitcoin users. I believe that adding 1 million new people to the bitcoin economy would have an upward influence on price of much more than the 1 percent of BTC holdings that people would have given away.