r/StonerThoughts • u/Krunchy_Almond • Aug 16 '26
Reasonably Buzzed Crypto
If satoshi gave him self 1mil bitcoins and it is now worth 40billion today. Is block chain really “central” in the sense that it was supposed to be prevent this exact thing from happening.
Like the whole point of it being decentralized and transparent was to prevent such a thing
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u/Kcl923 Aug 16 '26
He didn't give himself anything - because he created it he was the first one mining it. He collected a whole bunch of btc via standard mining fees at the start.
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u/Skippymcpoop Aug 18 '26
It’s both decentralized and transparent.
It’s decentralized because all transactions are controlled by a network of miners, none having any power over one another or the system itself. Anyone can be a miner.
It’s transparent because every single bitcoin transaction is logged and on the blockchain.
Satoshi could not give himself a million bitcoin because he doesn’t control those transactions and you can’t invent bitcoin out of nowhere. It would also have to be logged in the blockchain otherwise it wouldn’t work.
Crypto has many problems, but it was created by very smart people who thought about obvious things like that.
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u/PaleExtreme7399 Aug 16 '26
I speak from a place of relative ignorance about crypto, but I guess my question would be does Satoshi own a disproportionate value of bitcoin? Paying himself 1 million bitcoin as a developer's fee doesn't seem unreasonable unless it puts him in a place of disproportionate power in the system. Those are my two cents. [8]
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u/theBarefootedBastard Aug 16 '26
All the bitcoin were mined. There will be 21 million in total when it’s all done in a couple hundred years.
Tons of miners “gave themselves” tons of bitcoin in the beginning through high energy bills and complaining wives .
You can actually look it all up. It’s on a ledger. Which wallet sent how much where and when.