When the Soviet Union collapsed in early 1990s, the state properties were distributed to citizen equally. People were equally rich at that time. But shares of companies changed hands, powerful people got more shares by buying from other people. They are richer.
If we rest the bitcoin, the result is the same.
Topic: Bitcoin reset? (Read 2434 times)
By resetting it means that the profit that was before to be removed and distribute the bitcoin to new miners!! It is impossible.
Personally I would prefer every single person (or at least 1 out of 10) would own a device that supported this technology we are using to determine one's wealth/control/power/influence.
So your comfortable with a very small minority (10%) of bitcoin users having control, access, or ability to use bitcoin mining technology? Good, that's basically what we have today!
Bitcoin is a wonderful application of capitalism...those that work get paid. Those that risk have the opportunity to get paid more (but not the obligation or promise).
The reality is that this is how fast the maturity of an industry can move and change the way things were done in the beginning. There are other ways to get involved that can be very profitable.
Can we reset the Bitcoin mining process to redistribute wealth?
The idea of Bitcoin where anyone could mine and support the network of course died with ASIC technology.
Is this great concept of Bitcoin just dead forever?
Personally I would prefer every single person (or at least 1 out of 10) would own a device that supported this technology we are using to determine one's wealth/control/power/influence.
But not for profit and every person who wanted to be part of the network owned an equal share.
Only in a perfect world right?
Well in the end of Bitcoin if it doesn't change, perhaps the internet Gods (Google, Yahoo & Bing) will unite to create solar powered satellite Bitcoin miners spread all over.
To own Bitcoin just own the most computing power. Well I guess at least the people we will trust our money now should be tech savvy right?
Banks are slow and outdated, I still cry when I see someone write out a check.
reset just for you get some wealth?The idea of Bitcoin where anyone could mine and support the network of course died with ASIC technology.
Is this great concept of Bitcoin just dead forever?
Personally I would prefer every single person (or at least 1 out of 10) would own a device that supported this technology we are using to determine one's wealth/control/power/influence.
But not for profit and every person who wanted to be part of the network owned an equal share.
Only in a perfect world right?
Well in the end of Bitcoin if it doesn't change, perhaps the internet Gods (Google, Yahoo & Bing) will unite to create solar powered satellite Bitcoin miners spread all over.
To own Bitcoin just own the most computing power. Well I guess at least the people we will trust our money now should be tech savvy right?
Banks are slow and outdated, I still cry when I see someone write out a check.
those who hold lot of bitcoin right now didnt get it for free
they invest a lot of time and effort and money on it and put lot of faith on it
so i think it will never happen
Can we reset the Bitcoin mining process to redistribute wealth?
No, that wouldn't make sense because bitcoin would be worthless then and there would be no wealth to redistribute. 
There is no need to redistribute bitcoins. There is no need to force anyone to give up anything. There are lots of people willing to help you acquire bitcoins. Anyone can get as many bitcoins as they want. Just buy some.
If you want to own more bitcoins than 99.9% of all the people in the world, then go to a faucet and get some dust. If you want to be in the top 10% of all bitcoin owners, go to an exchange and buy 10 bitcoins.
It is that easy.
Anyway, people that advocate a "fair" distribution of bitcoins are confused about the difference between money and wealth.
That's not going to change anything.
If you want to own more bitcoins than 99.9% of all the people in the world, then go to a faucet and get some dust. If you want to be in the top 10% of all bitcoin owners, go to an exchange and buy 10 bitcoins.
It is that easy.
Anyway, people that advocate a "fair" distribution of bitcoins are confused about the difference between money and wealth.
If all the money in the world were redistributed, then each person would get about $200 in the form of money. If bitcoins were redistributed, then each person would get about 0.002 BTC, worth about $0.65.
That's not going to change anything.
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Personally I would prefer every single person (or at least 1 out of 10) would own a device that supported this technology we are using to determine one's wealth/control/power/influence.
This may end up to be more of a reality than not....that millions of people will own devices that mine bitcoin, albeit in minute amounts.
21's grand vision is to puts its chip into everything is underway....and before you say not economically feasible... realize nuclear fusion and incredibly cheap power are only a couple of decades away.
I don't think Lockheed Martin is given to hyperbole
https://www.youtube.com/watch?v=UlYClniDFkM
Yup...
Quote
Personally I would prefer every single person (or at least 1 out of 10) would own a device that supported this technology we are using to determine one's wealth/control/power/influence.
This may end up to be more of a reality than not....that millions of people will own devices that mine bitcoin, albeit in minute amounts.
21's grand vision is to puts its chip into everything is underway....and before you say not economically feasible... realize nuclear fusion and incredibly cheap power are only a couple of decades away.
I don't think Lockheed Martin is given to hyperbole
https://www.youtube.com/watch?v=UlYClniDFkM
That seems like a stupid idea? We can't reset the network with the amount of problems that would cause. Basically what I hear from you is, I messed up at the start and didn't mine when I could, now I want to get stupid rich because I could mine a lot of coins for nothing and get free money.
but he wont get rich..
bitcoin would be worthless..
imagine it 15million coins redistributed to 15 million people..
coinbase coldstore balance would disapear.. bitstamp, bitfinex, all exchange balances would disapear.
people would start sueing businesses.. and never trust bitcoin again..
instantly bitcoin would tank to $1.. and then those 15million people with 1btc each would sell the bitcoin in fear of the drop to 1cent..
the possibility of wanting to 'hold' bitcoin would vanish as there would be code to just make it move out off addresses without owners consent.
all because some basement dweller(op) thinks sitting on his hands and not earning bitcoin deems him worthy of getting free bitcoin..
he has no logical understanding of economics or how to even earn bitcoin bitcoin the regular way.
(work as an employee of a bitcoin business/start a business offering products or services)
That seems like a stupid idea? We can't reset the network with the amount of problems that would cause. Basically what I hear from you is, I messed up at the start and didn't mine when I could, now I want to get stupid rich because I could mine a lot of coins for nothing and get free money.
while we are at it
in america there is $15,400,000,000,000 ($15.4trillion) in personal bank accounts
lets make it so that at midnight of each night, its reset. so that every man, woman and child gets $44,000 each..
no matter if they spend it all. or keep it.
no matter if they receive $4,400,000 from 100 people, by selling goods/services... at midnight.. its reset back to $44,000 each
the end result is that $44k would only have a living cost value of 1 days food or bills.
then people wont want to work because they are guaranteed $44k tomorrow.
so next there would be no bills because there are no workers at the nuclear plant keeping the lights on..
eventually people will resort to trading physical products because there is no electric to power bank databases, internet, ATM's..
so now you know that doing such a thing to a highly dependant FIAT.. would result in returning to the middle ages..
what benefit would it be to do the same to bitcoin..
tell me exactly how people would continue to value bitcoin, if its reset?
in america there is $15,400,000,000,000 ($15.4trillion) in personal bank accounts
lets make it so that at midnight of each night, its reset. so that every man, woman and child gets $44,000 each..
no matter if they spend it all. or keep it.
no matter if they receive $4,400,000 from 100 people, by selling goods/services... at midnight.. its reset back to $44,000 each
the end result is that $44k would only have a living cost value of 1 days food or bills.
then people wont want to work because they are guaranteed $44k tomorrow.
so next there would be no bills because there are no workers at the nuclear plant keeping the lights on..
eventually people will resort to trading physical products because there is no electric to power bank databases, internet, ATM's..
so now you know that doing such a thing to a highly dependant FIAT.. would result in returning to the middle ages..
what benefit would it be to do the same to bitcoin..
tell me exactly how people would continue to value bitcoin, if its reset?
Can we reset the Bitcoin mining process to redistribute wealth?
Oh - you mean everyone has been working hard for 7 years to develop their holdings and you didn't do shit? So now you want to declare an algorithm that forcefully takes money from those people who worked hard for it and give it to people who didn't contribute to the system?
You are no less than a bank robber. 'redistribute wealth' is just a nice way to say take shit from those who earned it and give it to those who didn't. Fucking joke.
There is no need t reset the bitcoin block chain. If you want to realize your ideals, just create a new coin and see if others will support your ideas.
OP should start CommieCoin. No mining required. Everyday you wake up the number of coins in your wallet resets to a certain amount regardless of how much or how little you've spent/received the previous day. This way wealth is equally redistributed on a daily basis and everyone remains equally rich.
[Hint: You will destroy the value of Bitcoin if you try to redistribute the wealth of its users, even if you think you are picking on just the miners.]
[Hint: You will destroy the value of Bitcoin if you try to redistribute the wealth of its users, even if you think you are picking on just the miners.]
That's not a good idea for sure,resetting bitcoin will don't do much and won't help the redistribution of the coins.This will be an experiment for sure.
There is really no way of reseting the Bitcoin mining process. As there is only a certain amount of Bitcoin in the world,21 000 000, you can't reset the Bitcoin mining process. As soon as all the Bitcoin is mined, I don't really know what is going to happen as people mining would barely earn anything.
How much you would like it to be 'fair'. bitcoin still has to be scarce to have any value, if everyone has the equal share, the bitcoincap would not be enough to spread the wealth, bitcoinprice would be just a few cents.
It is the big mining rigs that make the value of the coin thrive, make it rise and rise again,
If there is not incentive, no one would mine, maybe just a hand full of people. The 21 project could benefit from it, it makes small appliences mine bitcoin, these are at the moment not powerfull yet, the difficulty has to drop for those machines to be interesting enough to contribute to the blockchain.
You cannot get rid of the need of people to want more and more. We want more social and economic equality, in that we are giving in to our own greed to want more, be it equality, it is a utopian idea we never ever will reach, only scrape upon and then forever yearn to get closer...
It is the big mining rigs that make the value of the coin thrive, make it rise and rise again,
If there is not incentive, no one would mine, maybe just a hand full of people. The 21 project could benefit from it, it makes small appliences mine bitcoin, these are at the moment not powerfull yet, the difficulty has to drop for those machines to be interesting enough to contribute to the blockchain.
You cannot get rid of the need of people to want more and more. We want more social and economic equality, in that we are giving in to our own greed to want more, be it equality, it is a utopian idea we never ever will reach, only scrape upon and then forever yearn to get closer...
If someone resets Bitcoin, than the Bitcoin will no longer be the Bitcoin.
Nice idea,but it will stay just like a idea,it can cause to much problems and i think even btc demage
Can we reset the Bitcoin mining process to redistribute wealth?
The idea of Bitcoin where anyone could mine and support the network of course died with ASIC technology.
Is this great concept of Bitcoin just dead forever?
Personally I would prefer every single person (or at least 1 out of 10) would own a device that supported this technology we are using to determine one's wealth/control/power/influence.
But not for profit and every person who wanted to be part of the network owned an equal share.
Only in a perfect world right?
Well in the end of Bitcoin if it doesn't change, perhaps the internet Gods (Google, Yahoo & Bing) will unite to create solar powered satellite Bitcoin miners spread all over.
To own Bitcoin just own the most computing power. Well I guess at least the people we will trust our money now should be tech savvy right?
Banks are slow and outdated, I still cry when I see someone write out a check.
The idea of Bitcoin where anyone could mine and support the network of course died with ASIC technology.
Is this great concept of Bitcoin just dead forever?
Personally I would prefer every single person (or at least 1 out of 10) would own a device that supported this technology we are using to determine one's wealth/control/power/influence.
But not for profit and every person who wanted to be part of the network owned an equal share.
Only in a perfect world right?
Well in the end of Bitcoin if it doesn't change, perhaps the internet Gods (Google, Yahoo & Bing) will unite to create solar powered satellite Bitcoin miners spread all over.
To own Bitcoin just own the most computing power. Well I guess at least the people we will trust our money now should be tech savvy right?
Banks are slow and outdated, I still cry when I see someone write out a check.
This would not be a perfect world because now bitcoin as been publicized. This would be the most ridiculous thing I've ever heard.
That's like putting all the gold back into a goldmine after it's been mined because we wanted to be fair to the people who heard about it late.
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