No dev and no creator or anything can do it.
Only the users can. If they all agree and use the new limit, it will going to happens.
But of course it is impossible since many people won't change just for the sake of laziness
Topic: Is bitcoin creators able to increase the limit of the number of bitcoins? - page 2. (Read 1606 times)
May 30, 2015, 10:56:10 AM
May 30, 2015, 10:43:02 AM
yeah it is possible with a fork, but it will not be done ever, there is no reason to do it, the limit is perfectly fine
also the bitcoin creator, satoshi, isn't working on the original client anymore
also the bitcoin creator, satoshi, isn't working on the original client anymore
iam sure Nick is still working on it.
May 30, 2015, 10:39:00 AM
yes,of course, core devs could even destroy bitcoin if they wanted to
May 30, 2015, 10:37:59 AM
This would be the safest way to kill BTC. A lot of its value comes from the fact that the supply is limited, if it isn't, then BTC is just a worthless string of data.
True but it is also based on demand. If the amount that is demanded goes way beyond the 21 million, they would either have to accept the rising costs of bitcoin, or they would have to increase the amount of bitcoin. I think if they even do come to an increase it would have to be many years from now and only if it becomes mainstream enough that it can be used piratically everywhere.
May 30, 2015, 10:32:40 AM
This would be the safest way to kill BTC. A lot of its value comes from the fact that the supply is limited, if it isn't, then BTC is just a worthless string of data.
May 30, 2015, 10:26:35 AM
Hi guys I'm just wondering is bitcoin creators able to lift or increase the limit of the number of bitcoins which can ever be produced(21,000,000)?
When you answer, if possible please also let me know how sure are you about the answer. I need some advise on this. Thanks.
When you answer, if possible please also let me know how sure are you about the answer. I need some advise on this. Thanks.
It is possible to increase the amount by virtue of different client, but then again who in the world can afford to go through that. So it is very unlikely to increase the amount.
May 30, 2015, 09:26:01 AM
Hi guys I'm just wondering is bitcoin creators able to lift or increase the limit of the number of bitcoins which can ever be produced(21,000,000)?
When you answer, if possible please also let me know how sure are you about the answer. I need some advise on this. Thanks.
When you answer, if possible please also let me know how sure are you about the answer. I need some advise on this. Thanks.
Yes, the development team (not the creator Satoshi who is now "retired") can change a few lines of code and increase/decrease the limit.
You are wrong, everyone can increase the limit of bitcoin but if the other 'people' are using a different versione of bitcoin client they will refuse the increase of the limit (I hope you understand).
Basically I can create another version of bitcoin with 21 bln of BTC and convince the others to use it, then in this case I have increase the limit of that bitcoin 'client' and all the people who will use that version known and agree with me.
There is nothing wrong about what I said.
The OP asked if it can be done by the creator.
Since the creator is now a goner all is left to the development team.
And we are talking about Bitcoin.
It is obvious that anyone can fork Bitcoin and create their own alt-coin, that is not what the OP asked though.
So also the dev team can fork the actual 'bitcoin' ... it is always the same thing. If I will change the code and a lot of people will start to use my client, I have basically increased the limit of the coin (but all we knot that it can't exist to chan for a long time).
I have replied that everyone can increase the limit of bitcoin, but the hard is that coinvince the other to use your client (like what Gavin wants to do in these days/months : http://sourceforge.net/p/bitcoin/mailman/message/34155307/).
May 30, 2015, 09:23:45 AM
Hi guys I'm just wondering is bitcoin creators able to lift or increase the limit of the number of bitcoins which can ever be produced(21,000,000)?
When you answer, if possible please also let me know how sure are you about the answer. I need some advise on this. Thanks.
When you answer, if possible please also let me know how sure are you about the answer. I need some advise on this. Thanks.
Yes, the development team (not the creator Satoshi who is now "retired") can change a few lines of code and increase/decrease the limit.
You are wrong, everyone can increase the limit of bitcoin but if the other 'people' are using a different versione of bitcoin client they will refuse the increase of the limit (I hope you understand).
Basically I can create another version of bitcoin with 21 bln of BTC and convince the others to use it, then in this case I have increase the limit of that bitcoin 'client' and all the people who will use that version known and agree with me.
There is nothing wrong about what I said.
The OP asked if it can be done by the creator.
Since the creator is now a goner all is left to the development team.
And we are talking about Bitcoin.
It is obvious that anyone can fork Bitcoin and create their own alt-coin, that is not what the OP asked though.
May 30, 2015, 09:16:37 AM
Hi guys I'm just wondering is bitcoin creators able to lift or increase the limit of the number of bitcoins which can ever be produced(21,000,000)?
When you answer, if possible please also let me know how sure are you about the answer. I need some advise on this. Thanks.
When you answer, if possible please also let me know how sure are you about the answer. I need some advise on this. Thanks.
The correct answer is, "Yes". Not only can this number be increased, I believe that sometime in the future it will be increased.
May 30, 2015, 08:33:07 AM
its 100% possible and 100% unlikely
May 30, 2015, 08:31:53 AM
Hi guys I'm just wondering is bitcoin creators able to lift or increase the limit of the number of bitcoins which can ever be produced(21,000,000)?
When you answer, if possible please also let me know how sure are you about the answer. I need some advise on this. Thanks.
When you answer, if possible please also let me know how sure are you about the answer. I need some advise on this. Thanks.
Bitcoin creator has just the same ability to change something like you and i. AFAK any such change would require a fork, and it is the 51% of the network hash that
is needed to do this. Dont worry, 21 million bitcoins is the max, there is no chance anyone would agree to change this, and every day there are new "lost" coins and wallets,
so the number can only go lower than 21 mil, not higher.
cheers
May 30, 2015, 08:31:31 AM
Hi guys I'm just wondering is bitcoin creators able to lift or increase the limit of the number of bitcoins which can ever be produced(21,000,000)?
When you answer, if possible please also let me know how sure are you about the answer. I need some advise on this. Thanks.
When you answer, if possible please also let me know how sure are you about the answer. I need some advise on this. Thanks.
Yes, the development team (not the creator Satoshi who is now "retired") can change a few lines of code and increase/decrease the limit.
You are wrong, everyone can increase the limit of bitcoin but if the other 'people' are using a different versione of bitcoin client they will refuse the increase of the limit (I hope you understand).
Basically I can create another version of bitcoin with 21 bln of BTC and convince the others to use it, then in this case I have increase the limit of that bitcoin 'client' and all the people who will use that version known and agree with me.
May 30, 2015, 08:26:13 AM
Hi guys I'm just wondering is bitcoin creators able to lift or increase the limit of the number of bitcoins which can ever be produced(21,000,000)?
When you answer, if possible please also let me know how sure are you about the answer. I need some advise on this. Thanks.
When you answer, if possible please also let me know how sure are you about the answer. I need some advise on this. Thanks.
Yes, the development team (not the creator Satoshi who is now "retired") can change a few lines of code and increase/decrease the limit.
May 30, 2015, 07:53:27 AM
Hi guys I'm just wondering is bitcoin creators able to lift or increase the limit of the number of bitcoins which can ever be produced(21,000,000)?
When you answer, if possible please also let me know how sure are you about the answer. I need some advise on this. Thanks.
When you answer, if possible please also let me know how sure are you about the answer. I need some advise on this. Thanks.
uhh...bitcoin is "just software", you can even check source code on github so yes...technically it is possible, but practically, it is imho totally out of the question..
May 30, 2015, 07:49:02 AM
yeah it is possible with a fork, but it will not be done ever, there is no reason to do it, the limit is perfectly fine
also the bitcoin creator, satoshi, isn't working on the original client anymore
also the bitcoin creator, satoshi, isn't working on the original client anymore
May 30, 2015, 07:23:51 AM
Hi guys I'm just wondering is bitcoin creators able to lift or increase the limit of the number of bitcoins which can ever be produced(21,000,000)?
When you answer, if possible please also let me know how sure are you about the answer. I need some advise on this. Thanks.
When you answer, if possible please also let me know how sure are you about the answer. I need some advise on this. Thanks.
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