Topic: Bitcoin reset? - page 2. (Read 2465 times)
I would love to be able to CPU mine, but if we resetted to that point, it is very likely that Bitcoin will lose all value. And who knows if it would ever regain it.
Mining is exactly this kind of reset: Miners have the ability to charge a fee that constantly collect coins from existing holders into their possession, and anyone can easily buy a miner to do that. But you will find out that the cost to redistribute the bitcoin through mining might be higher than just buying them from market, if you don't have free electricity
It is not profit to mine if your electricity price is over $0.15/kWh.
Mining also has another advantage: The coins you get from mining are clean without earlier transaction history
Mining is exactly this kind of reset: Miners have the ability to charge a fee that constantly collect coins from existing holders into their possession, and anyone can easily buy a miner to do that. But you will find out that the cost to redistribute the bitcoin through mining might be higher than just buying them from market, if you don't have free electricity
It is not profit to mine if your electricity price is over $0.15/kWh.
Nothing can be redistributed fairly. Just think about countries. Some have more mountains, some have more lakes. Some are tiny, some are huge.
Real world works like this: Some are lucky and wise, get into boat even its risky, and gain a lot.
Some not even hear about it.
Real world works like this: Some are lucky and wise, get into boat even its risky, and gain a lot.
Some not even hear about it.
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Miners have the ability to charge a fee that constantly collect coins from existing holders into their possession
yeah, try this ... and then, all miners go to P2Pool to erase this policy.
Mining is exactly this kind of reset: Miners have the ability to charge a fee that constantly collect coins from existing holders into their possession, and anyone can easily buy a miner to do that. But you will find out that the cost to redistribute the bitcoin through mining might be higher than just buying them from market, if you don't have free electricity
Maybe you aren't aware of the endless free stuff/information search engines like Google give you. 
And maybe you aren't aware that nothing is free (everything that appears to be is actually gathering data for either the NSA or private companies).
Did you even read what I said?
Also you have a choice to use Chrome and any of Google's other products that profile you for advertising.
Duh!!
What CIYAM is trying to teach you is: If its free, you are the product.
You are also free to use bitcoin, you just need to buy or earn them.
Remember Auroracoin, the first country coin? That was an experiment to distribute an equal number of coins to each citizen of Iceland. Most of the population never got any coins, and the dev was accused of dumping huge numbers of coins that should have been shared among the population. None of the country coins that came afterwards were distributed equally among a country's population. If none of the country coins were fairly distributed then redistributing Bitcoins among the worlds population wouldn't work either.
Bitcoin was available to mine to anybody from minute one. If you look into the early history Satoshi was clearly thrilled when anyone paid it the slightest attention. Be thankful that the early players and miners had the vision to help it arrive at this point.
This. In addition, most of the very early adopters (except a few high profile ones) have probably sold most of their holdings during any of the run ups helping distribution.
If you were late to the party, just remember, most thought they were late when bitcoin was at 10 usd, and 50 usd, etc. and look where we are now.
Can we reset the Bitcoin mining process to redistribute wealth?
Then this wouldn't be bitcoin anymore. Bitcoin would lost all trust and value.Terrible idea
Bitcoin has to be earned, not distributed evenly. We have to work hard to promote bitcoin and increase its value.
Maybe you aren't aware of the endless free stuff/information search engines like Google give you.
And maybe you aren't aware that nothing is free (everything that appears to be is actually gathering data for either the NSA or private companies).
Did you even read what I said?
Also you have a choice to use Chrome and any of Google's other products that profile you for advertising.
Duh!!
Maybe you aren't aware of the endless free stuff/information search engines like Google give you.
And maybe you aren't aware that nothing is free (everything that appears to be is actually gathering data for either the NSA or private companies).
^ From a guy who clearly is a fan of Google who are not in the business of giving away all of their money to "make things even for everyone" either.
Maybe you aren't aware of the endless free stuff/information search engines like Google give you.
Do you mean rolling back the chain? That's crazy
That's crazy 
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.
At this point, you can't really reset the Bitcoin network. There's already a lot of investment made in this network. If you want to mine from the beginning you might as well start your own coin.
Can we reset the Bitcoin mining process to redistribute wealth?
Why stop at Bitcoin? We should kill all those fuckers who drive Mercedes and take their wives rings off their fingers and sell that shit and pass the money around to poor people. Anytime someone works hard and amasses some wealth, lets throw him the fuck into jail and take his money!!! Those who came before us and did smart things, fuck them - lets get their money and 'redistribute it'.
That is the true spirit of the bitcoin community.
Holy fuck!
Bitcoin was available to mine to anybody from minute one. If you look into the early history Satoshi was clearly thrilled when anyone paid it the slightest attention. Be thankful that the early players and miners had the vision to help it arrive at this point.
No, it is actually nonsensical to reverse all the process and revert it to 0. Imagine all the used energy that we harnessed for the last 6 years by just mining bitcoin and revert it back so as to distribute wealth? Uneven wealth distribution will stay as it is, and will never be equal even if we wanted it too.
^ From a guy who clearly is a fan of Google who are not in the business of giving away all of their money to "make things even for everyone" either.
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