Topic: The year is 2148... [The Poll] (Read 1650 times)
I'd likely be in favour of doing nothing. Let it self-regulate.
Can't really sit on a high horse and call mostly everyone on the forum "spammers" when you are participating in a signature campaign your self. I know I am too, but still man...
Anything that touches the fundamental 21 million limit would destroy Bitcoin overnight. It is simply unadulterated insanity to even think about the idea of removing the total coin limit, there are 0 reasons to do so ever.
I could sympathise with the first part of your post, but the last part is simply wrong. There are plenty of good reasons for having unlimited supply (one stated in OP).
I hope but doubt that bitcoin will still be surviving then... If it is, great, it will have the power to regulate itself!
Anything that touches the fundamental 21 million limit would destroy Bitcoin overnight. It is simply unadulterated insanity to even think about the idea of removing the total coin limit, there are 0 reasons to do so ever.
2148 is StarTRek century.
Money is useless since humanity travel over space and distances.
but, cats always exist ... so perhaps, Bitcoin, too.
Money is useless since humanity travel over space and distances.
but, cats always exist ... so perhaps, Bitcoin, too.
in the scenario with a space travel humanity the only currency that can work is blockchain currency, you can sent the data and store them forever with light speed.
And if we cant find a Quantum transmission of information then we will break and the time limit of light travel.
I'm thinking by that time, we can have btc to 10,000
Remember all those good expectation, beyond 2000, and many of them are still sci fi! i'm convinced future is not so bright as we expecting..Today we have hunger and poverty what will have for 100 years? Population will explode! And peak of oil..Virus outbreaks..
Who knows if we'll have electricity?
In best case scenario i can expect one world government and one currency.
If something happened and bitcoin become world currency, we can expect hybrid pos + pw ,
because pos is not secure as pow..And only pow is not possible with constant rise of hasrate!
Who knows if we'll have electricity?
In best case scenario i can expect one world government and one currency.
If something happened and bitcoin become world currency, we can expect hybrid pos + pw ,
because pos is not secure as pow..And only pow is not possible with constant rise of hasrate!
My vote is;
"Doing nothing. Let it self regulate"
And I am happy that most of us trust the community and market's own behaviour...
"Doing nothing. Let it self regulate"
And I am happy that most of us trust the community and market's own behaviour...
I voted
Doing nothing. Let it self-regulate
This was how it was designed right?
Either way it just made me sad that I wont be around to see what happens
Doing nothing. Let it self-regulate
This was how it was designed right?
Either way it just made me sad that I wont be around to see what happens
If bitcoin is still used by that time, I'm sure there'd be something like colored coins programmed on top. Such an implementation would help those in need of anew asset instead of increasing the max cap of bitcoin itself.
In the 2148 we will die 
but in the world peoples use bitcoin. Because they will be know that
but in the world peoples use bitcoin. Because they will be know that Not a single reply? Where are those sig spammers when you need them the most.
I think it's an interesting topic.
So far option 3 in the lead (85.7%), only 7 total votes though.
Can't really sit on a high horse and call mostly everyone on the forum "spammers" when you are participating in a signature campaign your self. I know I am too, but still man... this is not a topic that you can easily "spam" about, hence probably haven't gained as much traction.
But here's the thing though... you can't really predict this kind of stuff, because this year is 132 years away. The governments finally going off of the gold standard is still a pretty new concept and has only been around since the 1970's... so only around 45 years or so. So in a way, the current monetary system that pretty much every nation goes off of is still relatively "new" in a way.
The bitcoin monetary system has only been around 7 years, which makes it extremely new, and therefor it is pretty much impossible to tell what the best thing would be to do when 2148 comes around... I have a feeling that our kids and their kids will be so so so much smarter than we are, and I feel like they would be able to tackle these problems more adequately.
It's quite hard to reach consensus on updates nowadays. It'll get even harder as time moves on, regardless fees would have long taken over by 2148.
I voted do nothing because I seriously have no clue and cannot see so far in the future... One thing cannot happen for sure: the second option. If we change the cap it won't be Bitcoin anymore, it will become another coin, because the basis of Bitcoin was broken (not saying it is an impossible option in the future, but it seem highly unlikely and not suitable).
Switch to PoS might happen, but I don't see how bitcoin can incorporate PoS safely in the future...
Switch to PoS might happen, but I don't see how bitcoin can incorporate PoS safely in the future...
Yeah that's a bit the point ^^
In more than one century, Internet might not exist anymore. Humanity might no longer exist xD
So difficult to question the btc future!
Great thread.
I will vote other.
You cannot trade in diminishing intangibility.
When you stop producing something, eventually nothing is left.
PoS is one solution, although the main factors building any Bitcoin 'value' from the get-go are finite, rarity and scarcity vectors and of course the electricity used to generate the coins.
Other option - specify;
Arguably, a near perfect solution (for any finite crypto-currency) would be for the network to be able to automatically determine addresses with unspent coins for x duration (say more than 100 years / or 'holder' determined time-frame) and then to have those dormant coins automatically returned back into the network as mined 'transaction fees'.
This is likely the only true solution to maintain a finite supply of 21 Million BTC, whilst preventing the otherwise certain effects of diminishing intangibility.
Of course technically very difficult to implement (security wise), much could be possible within 150 years, if Bitcoin makes it that far, although so far, so good.
I will vote other.
You cannot trade in diminishing intangibility.
When you stop producing something, eventually nothing is left.
PoS is one solution, although the main factors building any Bitcoin 'value' from the get-go are finite, rarity and scarcity vectors and of course the electricity used to generate the coins.
Other option - specify;
Arguably, a near perfect solution (for any finite crypto-currency) would be for the network to be able to automatically determine addresses with unspent coins for x duration (say more than 100 years / or 'holder' determined time-frame) and then to have those dormant coins automatically returned back into the network as mined 'transaction fees'.
This is likely the only true solution to maintain a finite supply of 21 Million BTC, whilst preventing the otherwise certain effects of diminishing intangibility.
Of course technically very difficult to implement (security wise), much could be possible within 150 years, if Bitcoin makes it that far, although so far, so good.
In 2148 there may well be something still named Bitcoin and you'll still be able to redeem coins that were made in this period of time. Other than that I don't think there'll be one single line of code or technical operation that we'll be capable of recognising. The initial principles may well still be in existence. How they're maintained might be totally different.
I personally think that once mining is done the network will maintain the same rules and the market will correct itself. that is... if we ever get there...
Exactly, I think that a lot of Blockchain technology progression will occur over the next decade, and then it will primarily be self-regulated from there. We will always have to improve security to maintain an edge over faster and newer computer systems and software, but there will be fewer major changes such as the classic vs core debate going on right now.I also think that it will self regulate to become a stable financial network. Once more hardware is put to support transactions, instead of pure mining, we'll have a powerfull grid supporting the flow of values!
In fact, that's a real problem. The number of Nodes in the network are decreasing year by year, which has a direct connection with the mining difficulty. Thus, runing a node has no monetary incentive while mining has.
TBH I have no clue. I still hope we will feel the joy of Bitcoin in our lifetimes.
I personally think that once mining is done the network will maintain the same rules and the market will correct itself. that is... if we ever get there...
Exactly, I think that a lot of Blockchain technology progression will occur over the next decade, and then it will primarily be self-regulated from there. We will always have to improve security to maintain an edge over faster and newer computer systems and software, but there will be fewer major changes such as the classic vs core debate going on right now.I also think that it will self regulate to become a stable financial network. Once more hardware is put to support transactions, instead of pure mining, we'll have a powerfull grid supporting the flow of values!
In fact, that's a real problem. The number of Nodes in the network are decreasing year by year, which has a direct connection with the mining difficulty. Thus, runing a node has no monetary incentive while mining has.
I personally think that once mining is done the network will maintain the same rules and the market will correct itself. that is... if we ever get there...
Exactly, I think that a lot of Blockchain technology progression will occur over the next decade, and then it will primarily be self-regulated from there. We will always have to improve security to maintain an edge over faster and newer computer systems and software, but there will be fewer major changes such as the classic vs core debate going on right now.I also think that it will self regulate to become a stable financial network. Once more hardware is put to support transactions, instead of pure mining, we'll have a powerfull grid supporting the flow of values!
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