Out of curiousity, What if we create the version 2 of bitcoin? I mean if theres no bitcoin to mine by sometime in 2140, can we just create a version 2 of it that starts from 0 to 21million coins again? If this makes sense, will the first bitcoins lose its value or it will be more higher because it will be a "rare" coin?
You can create another product from the original Bitcoin source code, but it can not run and run on the same platform. If this happens and isn't accepted by everyone, then it is just a false token and not feasible. 
Topic: Bitcoin v2.0? - page 2. (Read 265 times)
Out of curiousity, What if we create the version 2 of bitcoin? I mean if theres no bitcoin to mine by sometime in 2140, can we just create a version 2 of it that starts from 0 to 21million coins again? If this makes sense, will the first bitcoins lose its value or it will be more higher because it will be a "rare" coin?
There are about 100 coins in existence that want to be "Bitcoin v2.0". Almost every alt coin has been created to be the next bitcoin. How many have done it? None. Why don't we let Satoshi's creation as it is...and let the people of 2140 create their own advancement on this technology or otherwise.
Sound good?
Out of curiousity, What if we create the version 2 of bitcoin? I mean if theres no bitcoin to mine by sometime in 2140, can we just create a version 2 of it that starts from 0 to 21million coins again? If this makes sense, will the first bitcoins lose its value or it will be more higher because it will be a "rare" coin?
If ever, Bitcoin will be more valuable - demand over supply law. But, creating a version 2? I think that's somehow impossible, unless not a version 2 but a whole new and different one.
But... there is something on my mind ever since I learned about the supply. If Bitcoin reached its limit, maybe, then mining stops - no more miner, what will happen to it's rate; transaction fee, speed, confirmations?
Out of curiousity, What if we create the version 2 of bitcoin? I mean if theres no bitcoin to mine by sometime in 2140, can we just create a version 2 of it that starts from 0 to 21million coins again? If this makes sense, will the first bitcoins lose its value or it will be more higher because it will be a "rare" coin?
no it doesn't make any sense at all because you are assuming that bitcoin exists and is alive only because it is being mined. whereas in reality bitcoin exists to perform as a currency and having 1 circulating coin or 21 million doesn't change that much. search for "what happens when 21 million coins are mined" and read that for more information it is being asked every week.
you can always create a new altcoin and call it any name including bitcoin 2.0 but you are still creating an altcoin. and it will always be a worthless altcoin because you used the name of bitcoin in it.
Out of curiousity, What if we create the version 2 of bitcoin? I mean if theres no bitcoin to mine by sometime in 2140, can we just create a version 2 of it that starts from 0 to 21million coins again? If this makes sense, will the first bitcoins lose its value or it will be more higher because it will be a "rare" coin?
As presented, there are more than thousands of alt coins and a lot of Bitcoin forks. None of them will hurt the bitcoin.
Many people believe that bitcoin v2.0 has already been produced. There are several new coins which may have better functions than Bitcoin itself.
The thing is, due to the high fees and backed up blockchain that Bitcoin has had it's not considered a 'store of value'. Unfortunately it was not originally designed to be a store of value, and that major issue opened it up to be replaced by other currency cryptos.
I really like Nano as a currency, it's extremely quick and low fee. This makes it great to be used to transfer wealth.
Bitcoin itself I believe though will not be going anywhere, if anything it will remain a 'digital gold', or a store of value. Whether we like it or not. However, I believe that bitcoin will be replaced with something else for actually sending money quickly and with low fees. The whole 'mining' thing seems to be outdated already, and there are several interesting alternatives to mining such as POS, and the protocol that XBY is trying to create.
The thing is, due to the high fees and backed up blockchain that Bitcoin has had it's not considered a 'store of value'. Unfortunately it was not originally designed to be a store of value, and that major issue opened it up to be replaced by other currency cryptos.
I really like Nano as a currency, it's extremely quick and low fee. This makes it great to be used to transfer wealth.
Bitcoin itself I believe though will not be going anywhere, if anything it will remain a 'digital gold', or a store of value. Whether we like it or not. However, I believe that bitcoin will be replaced with something else for actually sending money quickly and with low fees. The whole 'mining' thing seems to be outdated already, and there are several interesting alternatives to mining such as POS, and the protocol that XBY is trying to create.
Out of curiousity, What if we create the version 2 of bitcoin? I mean if theres no bitcoin to mine by sometime in 2140, can we just create a version 2 of it that starts from 0 to 21million coins again? If this makes sense, will the first bitcoins lose its value or it will be more higher because it will be a "rare" coin?
if it doesnt contain bitcoins genesis block and doesnt contain some historic transactions belonging to satoshi then its got no part of being "bitcoin"
anyone can start an altcoin that begins again.. there are already probably 2000+ in existance right now. the issue is not re-creating a coin. the issues is user adoption and more specifically merchant adoption which then causes a reaction to make users adopt it.
It's a very good idea, but I do not think it's that easy to replace bitcoin, though we make bitcoin v2 I think the first bitcoin will always last and the price will go up and always be expensive.
Out of curiousity, What if we create the version 2 of bitcoin? I mean if theres no bitcoin to mine by sometime in 2140, can we just create a version 2 of it that starts from 0 to 21million coins again? If this makes sense, will the first bitcoins lose its value or it will be more higher because it will be a "rare" coin?
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