Quote from: squatter on April 23, 2019, 08:56:41 PM

Quote from: Ucy on April 13, 2019, 10:53:19 AM

Bitcoin should be forked and Satoshi's 1 million Bitcoin destroyed completely, if he really owns that much.
A sudden withdrawal of of 1 million (or large gradual withdrawals) should be regarded as an attack on Bitcoin.

Or it should be frozen for now until developers are sure no one is going to withdraw the whole thing and crash the market.

Is Bitcoin decentralized or not? What you're talking about is hard-coding censorship into the protocol. That would destroy everything Bitcoin stands for today.

Free markets are free markets. Someday, those coins will probably be moved and sold because they're held on exposed public keys. If someone wants to dump 1 million coins on the market, it's a good thing in the long run. Distribution from one entity to many is healthy for the overall distribution of money supply. It may result in a painful few years for holders, but it's not worth engaging in hard-coded censorship over.

Exactly. I can't see why it would be beneficial to destroy ~1,000,000 BTC because all it does is damage the trust within the community. The belief that all 21,000,000 coins exist, and won't be destroyed, is paramount. Just because someone doesn't want their investment to go down in value they're willing to break that trust is ridiculous.

It's a good thing that nothing like this has happened yet, as it would set a dangerous precedent. I don't like the other concepts of "re-adding" the coins to the overall pool after a certain time limit, as that makes things like vaults useless, in some cases. Let the free market do its thing and don't try to adjust it based on what you want. If the market gets flooded, too bad. There's no justification for destroying anything in this community.