[arcticbull]

Yes, and our friend Pomp left this delightful message on Twitter to mark his passing.

> Mircea Popescu, a Bitcoin OG, has passed away. He likely owned quite a bit of bitcoin. We may never know how much or if they are lost forever, but reminds me Satoshi said: "Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone."

Disgusting. [Edit] To be clear I'm reacting negatively to his choice of framing Micrea's passing in terms of his own enrichment, not quibbling with the mechanics. I've nothing against the idea that supply going down would benefit the community, just the way Pomp chose to address Micrea's passing. I suspect Pomp realized the optics himself as he has since deleted the tweet.

[ur-whale]

> Disgusting

Weird to hear you say this. Many of your HN comments on Bitcoin demonstrate a rather collectivist take on crypto.

Yet this feature of Bitcoin (lost Bitcoin are effectively fairly shared among all participants) is probably the most "fair" feature of the system.

It'd sure help if you gave some sort of rationale.

[arcticbull]

I'm sorry, I edited to clear up what I was referring to.

I was taken aback by Pomp choosing to comment on Mircea's life in terms of how his death would personally enrich him. I've edited to leave this note. I suspect he realized the optics himself as he has since deleted the tweet. To me it read as "Mircea died huh? Well good news, our bitcoin's more valuable now."

I've nothing against the mechanism Pomp was pointing out, per se, other than I suspect any random saunter down the time line results in all coins eventually lost. I'm also aware of the counter-argument that infinite divisibility mitigates this.

Thanks for calling out the lack of clarity.

[ur-whale]

Thanks for clarifying, your "disgusting" makes more sense now.

[imtringued]

> Mircea Popescu, a Bitcoin OG, has passed away. He likely owned quite a bit of bitcoin. We may never know how much or if they are lost forever, but reminds me Satoshi said: "Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone."

So, people are literally betting on the deaths of other Bitcoin holders? Is this supposed to be a joke? If there was a Bitcoin nation then it would execute its richest members...

[vmception]

You follow bitcoiners on twitter? That’s interesting

I would have assumed you had completely segregated yourself from them

Yeah I also believe the coins are lost and the principles of scarcity do apply, this is acknowledgeable with more tact than what Pomp chose to say, its an assumption that can just go unsaid

[arcticbull]

I do; when I feel really strongly about something I always try and challenge my opinions. I like to hear both sides of the debate and make up my own mind. I'd like to think I have more than a passing knowledge of Bitcoin and crypto and the ecosystem in general. Not as much as some, to be sure. I am open to being wrong, and of course it goes without saying that I've learned a lot from you and our various back-and-forths! :)

I work in payments, and have for a long time now so it's important I have at least something of an informed opinion on cryptocurrency in general. I've also got a few friends who did very well in crypto (and some who haven't done very well at all).

I follow and often engage with Paolo Ardoino too! :) I think in a different life he and I would be great friends.

I agree, Pomp is right about the mechanics, I was referring to the tactless way in which he chose to honor the life of Mircea - in terms of his own enrichment.

[nly]

Many people die intestate every year and the state takes their net worth. That money, in many ways is a donation to everyone, since it marginally reduces overall tax burden.