>“Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone.” -Satoshi Nakamoto

That’s not applicable in this context because the coins were stolen (ie. transferred to someone else) not lost (ie. transferred to no one). In the former case it doesn’t make everyone’s coins more valuable because it could still be spent.

> core dev with $3.2 million in a wallet stored in a profoundly stupid way on a server.

Compromised server[1]...

[1] https://twitter.com/LukeDashjr/status/1593227756841578496

That Satoshi quote contains layers and layers of ignorance about economics.

Donation of what? It only makes sense if the purpose of Bitcoin is to go up in fiat denominated terms, but that’s not a currency it’s a Ponzi scheme.

It’s like QE being a tax on everyone, and tightening being a donation to everyone.

Of course the purpose is to make it go up in fiat denominated terms, but it doesn't make it a Ponzi scheme. It's just a better currency. Only an irrational person uses currency that is designed to lose value, compared to one that isn't.

>Donation of what? It only makes sense if the purpose of Bitcoin is to go up in fiat denominated terms, but that’s not a currency it’s a Ponzi scheme.

I think you're either reading too much into it, or are interpreting "donation" too literally. He's just pointing out the very simple fact that if there is less of a scarce resource, then the value of what remains goes up, all things being equal. He's not advocating that people burn their bitcoins intentionally to make everyone rich or whatever. The whole thing is just a subtle joke, and it seems like you missed it.

Can we not do the drive-by “X is a terrible person”? It’s endemic to the rest of the internet: https://www.reddit.com/r/196/comments/100nfgs/forget_mr_rule... and also off-topic.

It's fine to not give attention to someone who thinks slavery is moral.

That may be true, but we have a higher standard here: https://news.ycombinator.com/newsguidelines.html

The guidelines are more than merely rules. They’re the glue that holds us together and prevents us from tearing each other apart in political flamewar.

Giving attention to someone who supports slavery is not a higher standard, so stop incorrectly linking to HN's rules.

It is also brought up here that they are guidelines, not really rules (tho most of them are rules).

I'm sorry this isn't a drive-by, there is a mountain of evidence about this guy. I draw the line fully at "slavery is ok."

Weren't they most likely stolen and not lost?