Invest, donate for the future

Updated on January 15, 2020 in Bitcoin wallet for android
1 on January 15, 2020

After lurking for months now, I decided to download the client and see for myself how it works. I am quite impressed sofar except for the long initialization process of downloading the blocks and thrashing the hard drive.

I am also working on an excel macro that will hopefully allow you to basicly visualize/sort your accounts/transactions and maybe operate it all from Excel Smiley.

Another idea I have is discussed by Robin Hanson in this post:

Parable of the Multiplier Hole

So the idea is to use the power of compound growth to donate now, but multiply it by time by spending it only in a 100 years (or more).

Now I think this will be very succesfull if bitCoin is successfull as there is only enormous growth in value if it catches on (and there currently is no lack of interest).

So yes this is my first project with BitCoin, gather at least a 1000 coins through donations and then “invest” it somehow. The most secure method would be to not spent it and as the coins get divided, the original investment keeps gathering value.

To prevent temptation the wallet can be weakly encrypted, with the expected computing power of 100 years (or more) be able to access the wallet.

So yes some committee or something?

Anyhow I already made a “for the future” philanthropy account for the brave and trusting: 15WkJPmhRvSuyRRhfTeaN34TNHa8ukdPe2

Also give the noob some bit bucks at my personal account: 15WkJPmhRvSuyRRhfTeaN34TNHa8ukdPe2

Any comments?

 
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0 on January 15, 2020

So the idea is to use the power of compound growth to donate now, but multiply it by time by spending it only in a 100 years (or more).

Now I think this will be very succesfull if bitCoin is successfull as there is only enormous growth in value if it catches on (and there currently is no lack of interest).

So yes this is my first project with BitCoin, gather at least a 1000 coins through donations and then “invest” it somehow. The most secure method would be to not spent it and as the coins get divided, the original investment keeps gathering value.

To prevent temptation the wallet can be weakly encrypted, with the expected computing power of 100 years (or more) be able to access the wallet.

So yes some committee or something?

Anyhow I already made a “for the future” philanthropy account for the brave and trusting: 15WkJPmhRvSuyRRhfTeaN34TNHa8ukdPe2

Also give the noob some bit bucks at my personal account: 15WkJPmhRvSuyRRhfTeaN34TNHa8ukdPe2

Any comments?

From Fredy


‘m not getting the point. Why would I add coins to your “investment” wallet?

I didn’t see anything there about what you intend to do with the windfall in the future. That seems important.

Otherwise, I’d just invest the coins in my own wallet, right?

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