Topic: FUD::Bitcoin Executive Says 21 Million Cap Increase Inevitable::FUD (Read 578 times)
how the hell may be somebody called "bitcoin executive"? sorry for my endless ignorance and naivety, but I don't get it. ELI5.)
June 23, 2015, 08:05:34 AM
This topic is now officially "decentralized!" ->> 
For a fucking loser in his 50s, you sucked at "being cool"
Just stop and look at what you've done in life..... nothing. Your site altcoinpress.com is another crap that you produced. I hope you archive atleast one thing b4 you die. You never know, you're just a ticking bomb and i'm sure noone will miss you.
Every half decent bitcoiner knows that it is pure FUD, he is not the first not to understand it and certainly not the last.
June 23, 2015, 07:43:50 AM
I do agree with him.
Put it this way in 2030 when BTC is used by most of the people on this planet..
Most people are complete morons..
It just takes one Obama to convice these morons BTC needs to be controlled by the rothschilds and friends
Put it this way in 2030 when BTC is used by most of the people on this planet..
Most people are complete morons..
It just takes one Obama to convice these morons BTC needs to be controlled by the rothschilds and friends
June 23, 2015, 07:41:29 AM
When you fork bitcoin to increase the 21M cap, the new fork is an altcoin. It's not bitcoin anymore. The original chain still has 21M cap and wouldn't be affected at all.
Yes. And no one will accept the fork because accepting the fork will make your bitcoin client can't send mainchain bitcoins, and all your coins will lost the value in the fork. However if it becomes a new altcoin then all bitcoin owners will get extra altcoins and may trade them back to bitcoin 
June 23, 2015, 06:48:09 AM
When you fork bitcoin to increase the 21M cap, the new fork is an altcoin. It's not bitcoin anymore. The original chain still has 21M cap and wouldn't be affected at all.
June 23, 2015, 05:44:53 AM
It would be similar to a stock split. Twice as many coins are available and each coin gets halved in price. It's not an awful idea if the growth of the currency was stagnated due to the price per coin. The difference is that bitcoin is nearly infinitely fractional..to what 8 decimal places, right? Down to the satoshi?
I don't think it would ever by needed (but those could be considered "famous last words").
I don't think it would ever by needed (but those could be considered "famous last words").
no it wouldn't work like that as the coins would not be awarded to u but miners.
pushing the decimal point back would be more like a stock split
June 23, 2015, 01:30:26 AM
It would be similar to a stock split. Twice as many coins are available and each coin gets halved in price. It's not an awful idea if the growth of the currency was stagnated due to the price per coin. The difference is that bitcoin is nearly infinitely fractional..to what 8 decimal places, right? Down to the satoshi?
I don't think it would ever by needed (but those could be considered "famous last words").
I don't think it would ever by needed (but those could be considered "famous last words").
June 22, 2015, 10:06:56 PM
This topic is now officially "decentralized!" ->>
June 22, 2015, 09:57:01 PM
that 'executive' is a freakin moron .. if bitcoins could be created out of thin air they would be no better than fiat money!
June 22, 2015, 09:50:15 PM
NO
you would just fork bit coin and the 42 million inflated bit coin would just become worthless as they would be uncertain that it would not happen again
the original chain would continue with all its value. That's part of bitcoins tech/design.
Sure you can fork, but you get to live with your fork, and still live on the original.
The whole essence of BTC is not the number of coins but that your overall share cannot be diluted.
This sort of article is FUD about how to try and stop the inevitable rise and rise of BTC. What they dont understand it that a BTC in divisible to 10^8 and essentially limitless. So there is no need to try and make more.
There is no bitcoin executive anyway.
I'm a little surprised at Micro Guy for frameing it this way, as he would clearly understand the implications of such a fork being it would just make a chain with no value, while 21M carries on. Micro Guy has been very solid and a tireless worker for GLD (Gold coin)
you would just fork bit coin and the 42 million inflated bit coin would just become worthless as they would be uncertain that it would not happen again
the original chain would continue with all its value. That's part of bitcoins tech/design.
Sure you can fork, but you get to live with your fork, and still live on the original.
The whole essence of BTC is not the number of coins but that your overall share cannot be diluted.
This sort of article is FUD about how to try and stop the inevitable rise and rise of BTC. What they dont understand it that a BTC in divisible to 10^8 and essentially limitless. So there is no need to try and make more.
There is no bitcoin executive anyway.
I'm a little surprised at Micro Guy for frameing it this way, as he would clearly understand the implications of such a fork being it would just make a chain with no value, while 21M carries on. Micro Guy has been very solid and a tireless worker for GLD (Gold coin)
Jump to: