Topic: bitcoin unlimited? (Read 2012 times)

Bitcoin knows no boundaries, neither the boundaries nor the boundaries of any banking and state rules. That is, transactions with bitcoin can be done across regions and continents.

bitcoin is a virtual currency. bitcoin is created by an algorithm so bitcoin has certain limits. The bitcoin value decreases with time and it will reach the lowest level for about 20 years. You should carefully consider when investing in bitcoin.

As far as I know bitcoin will have certain limits. Nowadays, bitcoin value is decreasing and will be the lowest value in 10 years. Therefore, everyone should be careful when investing in bitcoin.

Bitcoin unlimited is a full bitcoin client and is an alternative to the original Bitcoin Core client. It offers high levels of security, privacy and stability.This client is a full bitcoin node that helps  the bitcoin network relay transactions, however it requires at least 500 gigabytes of hard disk space and is not recommended for new users of bitcoin. It is a worldwide peer to peer electronic cash system to the users of bitcoin unlimited this means low and predictable fees reliable confirmation times and use able instant transactions.

The miners Bitcoin, commonly referred to miner, have some way to collect pundi-pundi money digital. From the simple with a small, until the professional with a more than dozens of million rupiah.

Bitcoin own created from a system that is often issued a combination of those numbers unique. This is a figure which then arrested with a and software specifically, to be interpreted as Bitcoin.

Bitcoin is not unlimited it only have a finite supply. The best way to do is keep or hold your bitcoins because so far bitcoin price will goes up. You can get more bitcoins when you buy it when the price is low.

I cant understand your english grammar but as far as i know bitcoin is not unlimited. It is only limited to 21 million and we currently mined for about 18 million of it. If its going to be unlimited, it will be good because it can help people forever. But there are still advantages and disadvantages of having an unlimited resources of bitcoin.

does not agree if bitcoin is unlimited, because bitcoin is a valuable item and Bitcoin can not be created just like that, while Bitcoin must be mined through digital devices and bitcoin itself is a digital eye unit. Because it is a provision set by the founder of Bitcoin, he has a fairly limited supply.

Bitcoin unlimited is a terrible idea. That defeats the purpose of Bitcoin being sound money. It needs to be a store of value first, and scale globally, before it can be a medium of exchange.

Yeah bitcoin is limited but it will take more and more years till the bitcoins that are being mined reach zero and for now just work harder to earn more bitcoins because in the future probably the bitcoins value will dominate depending on the demands.

If bitcoin going unlimited like on economic theory when commodity going unlimited than the value of the comodity will going down or not have any value because when stock bitcoin commodity go unlimited then the competition to earn bitcoin going low and made bitcoin value will be not have value anymore.

Bitcoin is limited, because we can know together that there are certain time periods that bitcoin always decreases half of the previous amount and it will continue until bitcoin in the mining area is exhausted or zero so that the mine can no longer operate it is called halving day.

Yes because of the limited supply of bitcoin they can encouraged more investors to invest and make it valuable. The demand is also high because bitcoin is useful for everyone who wanted to earn a good income.

this is what we use from bitcoin investments, because the limited amount of bitcoin will cause the bitcoin price to be high, the fewer bitcoin left in the mine will be the point where bitcoin prices are so high, even if bitcoin enthusiasts remain numerous,
these are all investors' expectations

Bitcoin Unlimited uses a protocol called Emergent Consensus.
It involves two miner-controlled parameters: EB "Extension Block", which is the size of the block the miner wants to vote for, and AD "Admittance Depth", which is how strongly the miner wants to vote for his or her EB - specifically, if the number of consecutive blocks whose EB is not equal to the miner's EB is less than AD, then the miner will not build on top of that chain.
It's the "not build on top of that chain" bit that's rather bad. Consider two groups of miners each with plurality of the hashrate. If one group votes EB=1 AD=999 and the other group votes EB=2 AD=999, then you can have chain splits where each group mines exclusively. Such chain splits can persist for 999 blocks.

Bitcoin is a worldwide peer-to-peer electronic cash system, known for low and predictable transaction fees, reliable confirmation times, and useable instant transactions. Unfortunately, because many network nodes continue to enforce a limit on the size of blocks which is below today's demand (the current limit corresponds to roughly 3 transactions per second), fees have risen, backlogs of transactions have formed, and confirmation times have become erratic. A smaller number of nodes have even adopted replace-by-fee policies to permit double-spending of transactions stuck due to the backlogs, which has produced the regrettable side effect of making instant Bitcoin transactions less secure.
Bitcoin Unlimited will be activated when the majority of the miners signal their approval. The fact that a simple the majority of miners can dictate the longest chain (and that the longest chain "wins") is the fundamental truth of Bitcoin's "Nakamoto Consensus" mechanism. Bitcoin Unlimited recognizes this. Although you may have heard that Segregated Witness (SW) activates at a 95% vote, this activation level is simply a convention. The truth is that if 51% of the miners wanted a change, they could simply mine only the changed blocks, and reject all unchanged blocks. Since 51% is the majority of the miners, the changed chain would be the longest, and therefore the "winner".
To bootstrap this new digital currency, it takes investors like you willing to hold bitcoin through the ups and downs of its price action. You want to be rewarded for that risk. By supporting Bitcoin Unlimited you are supporting our objective to return control over Bitcoin's evolution back to the market and our efforts to enable node operators to lift the block size limit that is presently restricting transaction volumes. By removing this limit, Bitcoin's user base will be free to grow, and with it its market capitalization.

And I think that the price on the contrary will fall. It will become like a centralized currency, which can be printed in unlimited quantities. Bitcoin is valuable in that its amount is limited

That was a good experience! Because we all know that bitcoin has a limited source so that sometimes the value varies to it if the demand would higly rising. And I think if the bitcoin source is unlimited the price would be rather rising only and no dumping and I think that will be very amazing and awesome.

which is sure all the transactions will be quickly processed, because the number is more stout transported in a block

In the BU system, node operators can choose the blocksize limit they vote on by modifying their client via a GUI menu and miners choose to increase or decrease the blocksize according to what nodes are voting on. This would, in theory, create a system where Bitcoin scales according to the space needed to accommodate the transactions in the network which is prone to keep growing like Bitcoin’s popularity and user base.
This system allows users to choose the maximum block size they want to accept as valid. However, there is a user-configurable failsafe mechanism that allows users to accept a block larger than the limit they have previously set if the number of blocks above this limit reaches a certain number. This system ensures that no users are accidentally left behind.

Bitcoin is unlimited. Of course the faster the transaction is done but until now I have not felt the impact. The question is if bitcoin is so infinite whether it can give a positive for economic development. Because with the infinite bitcoin of course there will be things that can harm. Such as his example can be exploited by people who seek a gap to do the negatip thing. I think one side of it will worsen the economy. Certainly to overcome such a thing. There needs to be technically made. Or arrangements made so that no one exploits bitcoin for unfavorable purposes

Actually, I do not think that today you need to be afraid of Bitcoin. The fact is that today this is the chance that enables many users of the crypto currency to buy Bitcoin at a cheaper price and after a while you can have a very good income from these purchases.

I think BTU in hitbtc and bitfinex just for checking the psychological of trader and create panic for market. But in few weeks ago have some news about Bitcoin can split to more network: Bitcoin Unlimit, Bitcoin Core, Bitcoin ABC (Bitmain HardFolk) ... make me scared the future of Bitcoin in short time

I am not really excited to see the split at all, this incident will caused the price to go down sharply and the dominance of Bitcoin will be gone, Bitcoin unlimited will makes the transaction become faster but I am afraid Bitcoin splitting will makes both of the bitcoins become weak and then it will be replaced by other coin, at that point Bitcoin value will be decreasing a lot

I'm actually excited to see, what's going to happen. Though, it scares me - at the same time.

What do you mean by local exchanges?

Are they some unknown to a wider world places where you can exchange your local currency to Bitcoin and vice versa? If so, I wouldn't hope that you will receive the same amount of BTU in addition to your stash of bitcoins, though at larger exchanges like Bitfinex, that may well be the case. On the other hand, when Ethereum had been split, Coinbase didn't create another wallet for each holder of this coin, i.e. they basically stole the forked coins

If it happens then there will be great competition between 2 coins, and the effect is there will be a drop in the price of bitcoin because of the bu

Bitcoin is not unlimited, as you might think.

The limit of Bitcoin to only supply up to its maximum cap amount may be said to be a strategy to elevate its value time after time. Since Bitcoins value rely strongly on the Principle of Supply and Demand, it should have a limit so as to keep up with the ever-changing times.

Bitcoins are strongly affected by its demand in the market, and having said so, its scarcity does wonders as to its conversion, making investors and traders alike more eager to hold on to their Bitcoins.   

Bitcoin Bitcoin core unlimitid will make the price go down. of course this will make a protest because a lot of people who deviate bitcoin at a high price and will bitcoin price drops. I myself do not agree with bitcoin unlimitid

OK, I will. I'd start reading more about software wallets. I've never though about them before since I don't even have a full bitcoin yet. Here's my problem though, my phone and laptop are kinda old and quite laggy, would I be able to like, back them up online or something? I might have to root my android again, it keeps coming up with this storage full message despite my sd card having 80% of its space free.

Anyway, thanks for reminding me.

Still, it is a different type of speculation because people are not showing any interest toward BU. Already BTC was dumped on exchanges due to BU propagation, everything will depend on time, whether it is possible to split Bitcoin into BU. This news makes some people not comfortable with Bitcoin.

I also think it will affect bitcoin negative especially when they motive is political. Bitcoin unlimited is created to bring bitcoin price down and it influences in crypto currencies market. What I know about bitcoin is that it has passed through alot of stage and it's market capitalization is very high so we expect it to keep going stronger.

Yes  
Except this is one is a little more serious and a bit more suspenseful.
https://i.imgur.com/z75AW8Q.jpg

https://youtu.be/84TouqfIsiI

Unlimited bitcoin is not good idea, people might grab it and abuse it. And we must maintain its original outlook to people and to its users. I think the current form of bitcoin is the best and i hope shall continue.

Split kinda like the movie.

A split can be prevented if consensus can be reached, which is, at this point, still seems cloudy. Let's see in a few more weeks what will happen as more people commit to their choices.

Here you go.
https://www.bitcoinunlimited.info/

I think the blocksize limit of the bitcoin will increase in the future. It makes the block will be more fast to validate the transaction and it makes a confirmation will be less than 15 10 - 15 minutes.
The current limit block is 1 MB.

But the split chain will be the disadvantages for use the bitcoin unlimited, you can see ETH and ETC.

My advise would be to remove your coins from those exchanges until the threat of hard forking has passed.

Why risk your bitcoin on an exchange when the warning has been announced of a split like this happening.
That would be just a stupid thing to take a chance of that happening.

Proponents say it would fix the current problems we are having now with transactions. People seem to have different ways of trying to fix it. Being on the non-techie side, I can only cross my fingers that this don't ruin bitcoin completely.



What, they're about to fork today? How would this affect us who only have coins in local exchanges? From what I've read in the forum, users would get similar amounts of BTC and BTU in their wallets. (I suppose that would be for everyone with a software wallet).

Bitcoin unlimited was not yet launched and thus we cannot feel the impact of the coins existence as of this moment. Though bitfinex is already selling   BCU or bitcoin unlimited but according to some users here in this forum the Hardfork was not yet working at this moment. Thus I submit to believe that if BU code had started to work then we can already feel the strong impact today.

I agree.  I really don't  understand what he's trying to say. What do you mean unlimited bitcoin? Anyways, for me,  the real impact of what i felt using bitcoin is the very quick transaction and also it has low charges.  The existence  of bitcoin has many benefits.

Yes and that's why we need to maintain Bitcoin's originality and not dope it with any impurities. I'm neither for nor against hard fork but it just makes Bitcoin loses its originality in my opinion.

The things are not clear on how things will go with both teams are taking sides and there are many flaws in the bitcoin unlimited as there are major flaws in their code and they have not even reviewed the code through a good testing process and so is the reason we are seeing these many flaws and by the way it looks like they are not professional enough to handle billions in evaluation. and these are the main reason for the price slide.

It is unlikely that both will drop by exactly 50%. What matters is how much of BTC is dumped on exchanges and how much of BTU is dumped on exchanges. I expect both supporters to get into an all out war. 

It's a crazy thing to think bu can cause such havok for bitcoin. They reside on two separate paths so they should involve with each other's business like this.

Yes price of BU and BTC both drops first by 50% and then the strong chain will eventually recover back on track. seems like market is reacting with strong stance opposing BU.

The Impact? Imagine you pumping unlimited blocks in the chain cycle which already being handled with numerous mining technology and that to getting slow day by day. This will create few nodes (people with full blockchain) leading to few "spots" in the network who will do the overcapacity transactions and people like me (with very less i am just node). They will benefit more and we might loose our holding and may not sustain in the chain. The difficulty will increase and it may lead to substantial crash in the "full nodes". Handling bitcoin is not that easy at seems to be in front of computer screen. :-) 

The impact of Bitcoin unlimited will be not good for Bitcoin. Because, the gridlock on scalling is putting of peoples. Here the only strong BTC holders will stay and survive. A lot time BTC expert or traders will ignore the bad impact.

Not really very sure what you are trying to say here, as your English makes no sense.  i am guessing that you are trying to ask if the impact of BU will be good for Bitcoin.  i would have to say thats a no.  The gridlock on scaling is def putting people of, but then only the strong hodlers will survive.  basically the way it has been for the last 6 years.

today all nodes bitcoin unlimited is crash
maybe accident nodes crash from bitcoin unlimited affect bitcoin price down

bitcoin unlimited can develop block size unlimited so affect can incraese speed transaction, but before run, nodes bitcoin unlimited is crash

the real impact will be felt by the user is the speed in the transaction, but there will probably be a little extra fee [to wear the sign] if there is a new sign of blocks will be entered into bitcoin transactions unlimited but if there is no sign it will go into ordinary miners.

there may want to add again I think this is still not complete

if true unlimited later bitcoin was received, whether the benefits of influential for us / impact we will feel