Topic: Things on my mind about bitcoin lately - page 3. (Read 1217 times)
It's true that I learned bitcoin's stuff very soon. I would not have been bitcoin about anything unless my cousin said it. And bitcoin was not so popular at all.
Things on my mind about bitcoin?
When I started using this digital currency called bitcoin, I was in doubt in getting money with this thing. I thought earning money in bitcoin is only for the people who invested in it. My mind only changed when my friend make money in using this. I was shocked and excited to use bitcoin. I think now is the time to invest for bigger incomes in bitcoin.
The bitcoin is not a wrong investment. The excitement no doubt increases when there is an upward spike in prices of bitcoins and altcoins. For now, its going to be another wind of adversity, but as the case, she will survive an emerge stronger. Let's all keep faith and hold in.
So I obviously hope I never have to deal with the first of these two issues I have but what if Gaven Andresen dies off and doesn’t pass on the alert/control features that Satoshi bestowed to him, would community have to legit hard fork to even stay in the realm of ‘new development’ not sure how that works as I’m not a dev at all, hence my question. Not sure how the BIP’s are actually approved or implemented and ATM believing is all basically comes down to getting Gavin’s ultimate approvi. Which like I said I worry may at some point ultimately be a issue.
Another thing I’ve wondered since getting into BTC is what happens when all BTC are mined, people hodl, and people die? Is there any contingency in place or being planned to recover stale or dead bitcoins in wallets that are OBVIOUSLY non active addresses? Or will everything that is owned by dead investors or give up investors be doomed to simply be a burn loss?...
Another thing I’ve wondered since getting into BTC is what happens when all BTC are mined, people hodl, and people die? Is there any contingency in place or being planned to recover stale or dead bitcoins in wallets that are OBVIOUSLY non active addresses? Or will everything that is owned by dead investors or give up investors be doomed to simply be a burn loss?...
Well your second point I think isn't something to be really concerned about. The fewer bitcoin in circulation the higher it's value would be. And I don't think there'd be a lot of people who die hodling and taking their btcs with them to the other side lol.
If you own a bitcoin then the government can not take it away from you. For those who believe in getting rid of the government system, Bitcoin is a big benefit.
Many people die leaving a lot of money in banks which goes unclaimed. But I like your suggestion that there should be some option to recover such funds in case of bitcoins.
And who will hold those recovered Bitcoins.? What will they do with them.?
Because of these issues no one tried to think about recovering those dead BTC's.
And how can you say its dead.? may be its cold storage..
with the decline in bitcoin prices ahir ahir is very clear what I think I want to buy as much bitcoin and sell it later when the price has started to rise again but I do not have the capital so I just want to soon become a member jr. just first
You are very much tensed about bitcoin just calm down and keep faith, community will solve every problem.
I think lately there is a lot of bad news about bitcoin. But not to worry because in the future that bitcoin will be better than now.
bitcoin prices in last year bitcoin prices so high that everyone thought this as their financial answer, but why this year bitcoin weakened at the low point, hopefully this does not happen that is very scary for the bitcoin users, and returned to the normal point like last year
Many people die leaving a lot of money in banks which goes unclaimed. But I like your suggestion that there should be some option to recover such funds in case of bitcoins.
And who will hold those recovered Bitcoins.? What will they do with them.?
Because of these issues no one tried to think about recovering those dead BTC's.
And how can you say its dead.? may be its cold storage..
So I obviously hope I never have to deal with the first of these two issues I have but what if Gaven Andresen dies off and doesn’t pass on the alert/control features that Satoshi bestowed to him, would community have to legit hard fork to even stay in the realm of ‘new development’ not sure how that works as I’m not a dev at all, hence my question. Not sure how the BIP’s are actually approved or implemented and ATM believing is all basically comes down to getting Gavin’s ultimate approvi. Which like I said I worry may at some point ultimately be a issue.
Alert control feature was removed in 2016
https://www.bleepingcomputer.com/news/security/bitcoin-retires-alert-system-amid-security-concerns/
Quote
Bitcoin Project to rely on private alert systems and Bitcoin news sites
Instead, the Bitcoin Project will be relying on the alert systems implemented in private Bitcoin wallet services, but also on the promptitude of cryptocurrency news outlets.
According to the Bitcoin Project, they plan on retiring the native Bitcoin Alert system one to two months after the announcement made on November 1, 2016.
Major Bitcoin wallet services have already known about the Bitcoin Project's plan and and have removed support for the network-wide Alert system from their software.
Instead, the Bitcoin Project will be relying on the alert systems implemented in private Bitcoin wallet services, but also on the promptitude of cryptocurrency news outlets.
According to the Bitcoin Project, they plan on retiring the native Bitcoin Alert system one to two months after the announcement made on November 1, 2016.
Major Bitcoin wallet services have already known about the Bitcoin Project's plan and and have removed support for the network-wide Alert system from their software.
Many people die leaving a lot of money in banks which goes unclaimed. But I like your suggestion that there should be some option to recover such funds in case of bitcoins.
So I obviously hope I never have to deal with the first of these two issues I have but what if Gaven Andresen dies off and doesn’t pass on the alert/control features that Satoshi bestowed to him, would community have to legit hard fork to even stay in the realm of ‘new development’ not sure how that works as I’m not a dev at all, hence my question. Not sure how the BIP’s are actually approved or implemented and ATM believing is all basically comes down to getting Gavin’s ultimate approvi. Which like I said I worry may at some point ultimately be a issue.
If I were you, I wouldn't worry about who's who behind Bitcoin core. Don't make things complicated dude, it is non-issue as far as I know.
Another thing I’ve wondered since getting into BTC is what happens when all BTC are mined, people hodl, and people die? Is there any contingency in place or being planned to recover stale or dead bitcoins in wallets that are OBVIOUSLY non active addresses? Or will everything that is owned by dead investors or give up investors be doomed to simply be a burn loss?...
There is no contingency for a lost bitcoin. Once its lost you cannot recover it. That's why its been practiced that you have to really take care of your wallet's private key. That's why its called private key, because obviously you are the only one who knows it and can retrieved your wallet. Protect it at all cost and I'm sure that you will be fine.
Things in your mind elaborated may be correct as per your observation but I think for Bitcoin everything is in place, it is a time tested one and the time has given success for Bitcoin. We need to make some things come in to exist supporting crypto by providing some useful technology support. I personally think that accepting and using Bitcoin is one of the big thing we support for Bitcoin.
So many people use bitcoin because they hope it is the answer to all financial problems. But in this year bitcoin is very low, everyone still hopes it will be okay like last year.
So I obviously hope I never have to deal with the first of these two issues I have but what if Gaven Andresen dies off and doesn’t pass on the alert/control features that Satoshi bestowed to him, would community have to legit hard fork to even stay in the realm of ‘new development’ not sure how that works as I’m not a dev at all, hence my question. Not sure how the BIP’s are actually approved or implemented and ATM believing is all basically comes down to getting Gavin’s ultimate approvi. Which like I said I worry may at some point ultimately be a issue.
Another thing I’ve wondered since getting into BTC is what happens when all BTC are mined, people hodl, and people die? Is there any contingency in place or being planned to recover stale or dead bitcoins in wallets that are OBVIOUSLY non active addresses? Or will everything that is owned by dead investors or give up investors be doomed to simply be a burn loss?...
Another thing I’ve wondered since getting into BTC is what happens when all BTC are mined, people hodl, and people die? Is there any contingency in place or being planned to recover stale or dead bitcoins in wallets that are OBVIOUSLY non active addresses? Or will everything that is owned by dead investors or give up investors be doomed to simply be a burn loss?...
About the dead part it is our responsibility to let others know our keys because this is the only thing how you will pass on your coins to somebody. There is always a possibility to create transactions and lock it with specific time. So you give to your spouse, kids, brother, sister or anybody else this transaction in this format that you are giving your bitcoins to them on that day. Of you happen to be alive you can simply transfer new coins to another address and make such transaction again. This is really handy not to expose your private key.
the market this blood because the bitcoin is going down there are all going up you have to take advantage, the time to buy has come
So if the person holding the bitcoin dies, it will disappear.
So that reduces the amount of bitcoin circulating.
So that reduces the amount of bitcoin circulating.
Wow.... Maybe if what you say happen.. Bitcoin will be die because cannot be mine again. And it will be bad dream for investor.
For better alternative we can invest to altcoin are support blockchain 2.0 dst.
For better alternative we can invest to altcoin are support blockchain 2.0 dst.
For me, the thing that is on my mind about bitcoin lately is holding because the price of bitcoin lately is low and there is nothing I can do but to hold my bitcoin or else I earn a small profit. But I am sure that when I hold my bitcoin, it will give me a lot of profit soon because I believe that bitcoin will rise again.
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