I've noticed Saylor in recent podcast interviews talking a lot about donating your life's work to humanity by not disclosing your keys when you die.
The coins are lost forever, therefore, creating more value for the existing coins.
It turns out, Satoshi was saying something similar in the early days of Bitcoin.
Pretty cool.
There are much better way to donate to humanity IMO 😅. Plus hopefully, one would donate his wealth to his children if apllicable.
Don't think he has kids
What's a better way to donate than increasing the collective wealth of humanity? (assuming hyperbitcoinization)
You can donate that wealth toward building something that could effectively improve people's life. Like research or even a new tech you believe in.
If you burn your coins your wealth will be diluted within say 18,000,000 bitcoins, insignificant for 99.999% of holders.
I mean even if you don't want to "invest" into this kind of thing you might as well setup a fundation and build a 100 schools where it's needed the most lol. Burning coins is such a waste of accumulated capital.
I think he believes that burning coins increases everyone else's wealth therefore even more schools could be built etc. His thesis is Bitcoin is better than property so assume he's starting from that framework
Yeah again it increases everyone's wealth but your coins are just being diluted within millions of coins so that's not going to make a big difference at the individual level. And economic decisions are taken at the individual/group level, not all coins holders all together.
I'm not sure there's a right or wrong answer. I would have to understand which method had the most impact. But, then again, what someone chooses to do with their wealth is a personal thing. I probably wouldn't do it myself.
No matter how you do it, the net effect will be diluted like that. Some ways make it harder to tell and so are more satisfying.
But I agree with you, the net impact would be much higher when your donation to humanity doesn’t proportionally mostly goes to the most wealthy, which is what happens in the donation to humanity scenario. Effective altruism rather than stack-proportional blind handouts.
I wondered the same when Saylor said that, keeping in mind that his stash is much smaller than MicroStrategy’s.
He also said it’s the best way to keep the courts from giving it to the person one hates the most (ex wife?), which was a big cringe.
