The Perfect Bitcoin | Bitcointalksearch.org

wxa7115

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Quote from: FutureSeeker2021 on May 27, 2021, 04:17:49 PM

What if satoshi nakamoto looks at Bitcoin today. What would he or she change? Why? The making of a perfect Bitcoin?

I need to clarify. This is a hypothetical query. Please put your satoshi hat on. Tell me what you think satoshi would change and why?

Satoshi does not have that power anymore, even if he cameback and remained anonymous but could prove he was the owner of the coins we think belong to him he will just be another person making recommendation to the code.

Since he is satoshi his words will have a lot of weight with the community but for the devs unless they can see the supposed improvements in terms of code they will skeptic about making any kind of change to bitcoin, bitcoin is no longer a small project that you can change at will, bitcoin is now worth a fortune which means that updates need to be very well analized in order to not break all of what has been built above it.

Ebede

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If I were Satoshi, I will make BTC supply unlimited.
I will reduce transaction fees.
I will incorporate PoS in BTC design.
I will make BTC easily minable
I will design BTC to reduce the energy required to mine BTC.

kawetsriyanto

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What kind of perfect Bitcoin did you mean and want to be?
Satoshi will not change anything.

Quote from: FutureSeeker2021 on May 27, 2021, 04:51:47 PM

I am aware of who Dorian Nakamoto is. I enjoy GIFs sorry Cheesy

What i am asking is hypothetically. I want you to be Satoshi theoretically . What would you change to make the Perfect Bitcoin? This is a thought experiment. sorry if it was not clear. Going to edit post .

And if I were Satoshi, I will not change anything on Bitcoin because I have said it about Bitcoin and would never say different right now and in the future. Because I believe that Satoshi is not the kind of person who is fickle and takes back on their own words.

dunfida

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Quote from: Erdogan on June 11, 2021, 05:48:02 AM

Bitcoin is perfect and there is nothing Satoshi need to change now. The only thing we need to change is our approach towards BTC. We should start taking it as a payment system rather taking him as an asset of investment.

Perfect on the sense on where it can really make the job done but we cant deny about scalability issues that we are facing on it even though its only temporal when there sudden influx of transactions but it would be good if this one would be solved out and the rest is already perfect and theres
nothing to be changed on.

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Quote from: FutureSeeker2021 on May 27, 2021, 04:51:47 PM

What i am asking is hypothetically. I want you to be Satoshi theoretically . What would you change to make the Perfect Bitcoin? This is a thought experiment. sorry if it was not clear. Going to edit post .

I would lessen the time for the coins to confirm. If possible making it an instant confirmation of transaction without compromising security. I would also choose the path of lesser energy usage than what it is consuming right now. The blockchain transparency is fine with me, no need to change that into a privacy coin.

Ucy

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I think he will continue to improve on its features, plus add new ones to secure and have it do more useful things better. I doubt he will allow its strong ideals be compromised while trying to get it work better unless he has forgotten why Bitcoin was created in the first place or he's no longer threatened by the badly run traditional financial systems.

ILuckyGuyI

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I think one of the most important problems of Bitcoin is scalability. Bitcoin's system can't handle over a certain limit of transactions. I think that Bitcoin will be near perfect if he/she manages to solve this.

Erdogan

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Bitcoin is perfect and there is nothing Satoshi need to change now. The only thing we need to change is our approach towards BTC. We should start taking it as a payment system rather taking him as an asset of investment.

ropyu1978

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even though satoshi showed the bridge of his nose, and has been recognized by the public, I don't think satoshi has ever changed the existing bitcoin system, because according to everyone's analysis, bitcoin is now categorized as perfect.. surely bitcoin prices will return to stable as before..

aysg76

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Quote from: FutureSeeker2021 on May 27, 2021, 04:17:49 PM

What if satoshi nakamoto looks at Bitcoin today. What would he or she change? Why? The making of a perfect Bitcoin?

There have been many hard fork and soft fork already conducted to make changes in the Bitcoin by the developers so as to adjust the flaws for more security so that's why there is no need for Sathoshi because he made it open source decentalized currency to operated by all not him only.If he would have made his mind to make any changes he would have already declared them from some other Indentity to the developers like in the past as believed by many he want to build completely anonymous currency and he developed Monero for that purpose and declared its whitepaper.So if he has any plans he would have done it but btc at current is perfect in almost terms.

blackened515

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Quote from: mk4 on May 27, 2021, 09:26:19 PM

Quote from: FutureSeeker2021 on May 27, 2021, 04:17:49 PM

What would he or she change? Why? The making of a perfect Bitcoin?

Nothing. Because Satoshi created a currency to be ran by the community, not solely by him. He/she/they definitely knows that what Bitcoin should be is what consensus thinks it should be.

What about the transaction charges bitcoin has now, wouldn't it be changed, the rich are the ones getting bitcoin now because they can afford to lay for the high fee, won't Satoshi wants it to be used by everyone both rich and poor, I think if he/she/they want to change anything, it should be the charges, what do you think.

GeorgeJohn

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Quote from: Oceat on May 27, 2021, 06:59:53 PM

The fact that it has been 10 years already and we have no single clue who he/they were is a sign that they wouldn't be seen nowadays. And I don't think they will still going to show in another coming years like 20 years or so. They choose to stay hidden after all of this that happen to crypto community.

I think we are meant to read before posting anything to the forum, i tried reading this text severally for me to comprehend the body sentence but i couldn't understand any, i think this part of lines of sentence have to be edit, so that it will enable user to capture the area you're emphasising, is not that I'm correcting, but it's the little impression i really want to put in order, please do not take it as a criticism rather to accept the little corrections.

Quote from: Oceat on May 27, 2021, 06:59:53 PM

I don't know why you want Bitcoin to change so much but let's just accept what Satoshi offered by his knowledge that we are using today.

Satoshi Nakamoto really introduce thing that can not depart from us till infinity, his legacy towards cryptocurrency will remain, irrespective that so many people is against the development of crypto nowdays, i think from the year Bitcoin is been introduced to the nation it has been rendering a positive impact to countries that adopt it immensely.

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Quote from: FutureSeeker2021 on June 01, 2021, 06:51:03 PM

Quote from: TangentC on May 27, 2021, 10:43:52 PM

My Perfect Bitcoin
Proof of Stake with a 30 second block speed
~37 billion coins
All Transactions at a fixed rate
All Transactions Processed Sequentially
An extremely low interest rate 5% or lower
All Transaction fees destroyed to offset new coins created.
No smart contracts feature to avoid blockchain bloat

This is Exactly what i was looking for. BRAVO. Nailed it!!!

I can understand why a lot of people want their Bitcoin fast -- hence BCH and all those ugly halfspawn. But why on earth expand the supply by almost 80%? That part I don't get. Fixed rate transactions? Sequential? Interest rate?

Man you really have not paid attention to the altcoin space and what they've been attempting (and failing) all this while to fix in terms of tokenomics huh.

AGD

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Dorian Nakamoto is not Satoshi. Pic is misleading.

the rise

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I don't think that bitcoin is perfect, due to the fact that there are still many shortcomings that exist in bitcoin, but what makes bitcoin interesting is the new technology it uses so many of the smart people, companies, entrepreneurs want to combine their industry with existing technologies like bitcoin. It looks like perfect.

btc-room101

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Quote from: FutureSeeker2021 on June 06, 2021, 10:10:07 AM

Quote from: TangentC on May 27, 2021, 10:59:44 PM

Quote from: mk4 on May 27, 2021, 10:49:34 PM

Quote from: TangentC on May 27, 2021, 10:43:52 PM

My Perfect Bitcoin
Proof of Stake with a 30 second block speed
~37 billion coins
All Transactions at a fixed rate
All Transactions Processed Sequentially
An extremely low interest rate 5% or lower
All Transaction fees destroyed to offset new coins created.
No smart contracts feature to avoid blockchain bloat

What you want for Bitcoin simply has so many flaws that I don't even know where to start. Even the proof of stake part itself is exceptionally bad for Bitcoin; imagine how much power exchanges would have over the network if Bitcoin was PoS.

Users can move their coins between exchanges, just as many bitcoiners have said miners can move between pools.
Note only 4 pool control over 51% of bitcoin hashrate, a little collusion and the ultimate double spend occurs.

No worries , Bitcoin Devs will never improve bitcoin , because it would hurt their profit margins from forcing users offchain.
https://www.trustnodes.com/2017/10/26/blockstreams-business-plan-revealed-profit-transaction-fees

The OP's question was asked as a hypothetical.

Looks like Bitcoin Eco is going to unburden the Bitcoin Core Devs by solving the problems for them. POS 3.0 and lighting fast. Thank you for sharing the link about the Bitcoin fees. Had no clue Shocked

Yep, POS will make bitcoin perfect, in hell.

POS is "Oligarchy" rule by the rich elite

POW is "Rule by the Masses", the Oligarchy hates this form of gov the worse,

But don't worry cuz the POS always win, they own the forums, the YT feeds, the influencers and the GOV ( IRS, FBI ...)

Anifisochka

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At present, bitcoin is not perfect, and the consumption of resources in the process of mining and people's strangeness and disapproval of bitcoin are also a problem.

In fact, there is no absolute perfect thing in the world. If there are advantages, there will be disadvantages. We can only pursue the advantages and avoid the disadvantages as far as possible to achieve the maximum interests.

FutureSeeker2021

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Unidentified Aerial Phenomena = Aliens

Quote from: TangentC on May 27, 2021, 10:59:44 PM

Quote from: mk4 on May 27, 2021, 10:49:34 PM

Quote from: TangentC on May 27, 2021, 10:43:52 PM

My Perfect Bitcoin
Proof of Stake with a 30 second block speed
~37 billion coins
All Transactions at a fixed rate
All Transactions Processed Sequentially
An extremely low interest rate 5% or lower
All Transaction fees destroyed to offset new coins created.
No smart contracts feature to avoid blockchain bloat

What you want for Bitcoin simply has so many flaws that I don't even know where to start. Even the proof of stake part itself is exceptionally bad for Bitcoin; imagine how much power exchanges would have over the network if Bitcoin was PoS.

Users can move their coins between exchanges, just as many bitcoiners have said miners can move between pools.
Note only 4 pool control over 51% of bitcoin hashrate, a little collusion and the ultimate double spend occurs.

No worries , Bitcoin Devs will never improve bitcoin , because it would hurt their profit margins from forcing users offchain.
https://www.trustnodes.com/2017/10/26/blockstreams-business-plan-revealed-profit-transaction-fees

The OP's question was asked as a hypothetical.

Looks like Bitcoin Eco is going to unburden the Bitcoin Core Devs by solving the problems for them. POS 3.0 and lighting fast. Thank you for sharing the link about the Bitcoin fees. Had no clue Shocked

famososMuertos

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There is a tendency to think that the bitoin is not perfect, is there something similar to perfection? if there is mention it. Because even atomic clocks are delayed a few seconds every million years.

The point is that perfection is in the result of its use, that adjective is very similar in the result of conceiving something from that point of view to ART, art is in the eyes of those who look at it, other eyes do not see it, the Art.

So, the perfect bitcoin is as it is, today it works for me, it is perfect for my transactions for my investments, every so often developers and enthusiasts add technically "Forks" and others add the term scalability, without a doubt they looking for the perpetual perfection that never comes for some, but that exists in the present fortunately for many.

Thank you Satoshi for your perfect bitcoin and if it could be you for a second I would not change anything, for everything else it is open source.

FutureSeeker2021

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Unidentified Aerial Phenomena = Aliens

Quote from: TangentC on May 27, 2021, 10:43:52 PM

My Perfect Bitcoin
Proof of Stake with a 30 second block speed
~37 billion coins
All Transactions at a fixed rate
All Transactions Processed Sequentially
An extremely low interest rate 5% or lower
All Transaction fees destroyed to offset new coins created.
No smart contracts feature to avoid blockchain bloat

This is Exactly what i was looking for. BRAVO. Nailed it!!!

Topic: The Perfect Bitcoin (Read 571 times)