I guess I'm not that surprised by more of these claims now after so many have been addressed and disproved over the years as far as I'm concerned. I mean there has been alot of talk about the 51% attacks and now I'm fairly certain it's all just people looking into it a little to much and it's just become hyped.
Not saying the discussion is bad just sharing another opinion.
Topic: Why bitcoin supply will NOT cap at 21M BTC [NOT PLAUSIBLE] - page 3. (Read 4374 times)
No government would be able to control the BTC money supply. To have that level of control would be like controlling the internet.
Government doesn't need to control Bitcoin on the technological level. That's exactly my point. All the govmt needs to do is make sure BTC holders have more wealth when forking to altered bitcoin sources and giving up decentralization. No majority will reject personal benefit (or the smaller loss) just for ideology.I say quit talking about it and fork the chain already. If/When they do it will be a happy day for all Bitcoin supporters!
Government loyalists can threaten all they like, I have made copies of some of the early versions of the source code just in case they try anything as I'm sure other people have, they will not win.
And what do you intend to do with your backups in case of manipulated bitcoin releases? Start your own blockchain? With a market cap of 0$? For the kids to play with?As I suggested it should be called "UnCoin" since the supply would be manipulated and controled by the UN in your ideal scenario.
Government loyalists can threaten all they like, I have made copies of some of the early versions of the source code just in case they try anything as I'm sure other people have, they will not win.
And what do you intend to do with your backups in case of manipulated bitcoin releases? Start your own blockchain? With a market cap of 0$? For the kids to play with? No government would be able to control the BTC money supply. To have that level of control would be like controlling the internet.
Government doesn't need to control Bitcoin on the technological level. That's exactly my point. All the govmt needs to do is make sure BTC holders have more wealth when forking to altered bitcoin sources and giving up decentralization. No majority will reject personal benefit (or the smaller loss) just for ideology.Government loyalists can threaten all they like, I have made copies of some of the early versions of the source code just in case they try anything as I'm sure other people have, they will not win.
Hahahaha!!! Good one!!!
Government loyalists can threaten all they like, I have made copies of some of the early versions of the source code just in case they try anything as I'm sure other people have, they will not win.
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It's Money 2.0| It’s gold for nerds | It's Bitcoin
sr. member
Activity: 448
Merit: 250
It's Money 2.0| It’s gold for nerds | It's Bitcoin
Please, so that I can get some sleep, please, please hard fork the chain as soon as you possibly can and change Bitcoin as you described so that it won't get banned.
This wouldn't be my suggestion. Governments around the world are just starting to learn about bitcoin. As long as there are very basic misconceptions and contradictory regulations I see no reason to act.Moreover, those governments would first need to agree on who should be given the power over BTC money supply. I hope it will not be the fed but an international entity (with a UN mandate?).
So waiting is not a healthy option for you. If you want to sleep better: sell!
No government would be able to control the BTC money supply. To have that level of control would be like controlling the internet.
The point is that you can try to fork the blockchain now - which will totally fail, or you can wait until the powers that be try to fork the blockchain in the future - which will also totally fail.
Really makes no difference to me or anyone who will continue to use Bitcoins and will never be converted over to a psuedo Bitcoin that you describe.
Except: after you or the powers that be fork the chain to create their FiatCoin or UnCoins whatever they call it I will sell all my FiatCoins given to me by the forking process and convert them to real Bitcoins.
In fact I will sell them to you if you want them.
I really like "UnCoins" for these UN controlled coins. Please call them that!
Really makes no difference to me or anyone who will continue to use Bitcoins and will never be converted over to a psuedo Bitcoin that you describe.
Except: after you or the powers that be fork the chain to create their FiatCoin or UnCoins whatever they call it I will sell all my FiatCoins given to me by the forking process and convert them to real Bitcoins.
In fact I will sell them to you if you want them.
I really like "UnCoins" for these UN controlled coins. Please call them that!
Please, so that I can get some sleep, please, please hard fork the chain as soon as you possibly can and change Bitcoin as you described so that it won't get banned.
This wouldn't be my suggestion. Governments around the world are just starting to learn about bitcoin. As long as there are very basic misconceptions and contradictory regulations I see no reason to act.Moreover, those governments would first need to agree on who should be given the power over BTC money supply. I hope it will not be the fed but an international entity (with a UN mandate?).
So waiting is not a healthy option for you. If you want to sleep better: sell!
What happens if Bitcoin market cap reaches a globally significant level? In the following I'll try to sketch why it will be in the interest of the bitcoin community to hard fork to a different supply scheme and sacrifice bitcoin's original philosophy.
I encourage you to start an alt coin that has the characteristics that you believe are necessary for success. Then when Bitcoin fails, your coin will be there.
OP: I agree with you. This is one of the biggest concerns we face and it keeps me up at night.
Please, so that I can get some sleep, please, please hard fork the chain as soon as you possibly can and change Bitcoin as you described so that it won't get banned.
Thanks!
OP: No. There's an altcoin for that.
Would anybody trust Citibank-coins over bitcoins?
https://www.getbitcoin.com.au/bitcoin-news/citibank-central-bankers-miss-point-bitcoin
The Citibank report says that the technology behind Bitcoin might be better utilised if it were in fiat currency, such as US dollars or euros.
Sorry, but you're wrong. If we want to expand the crystallographic money supply we don't have to fork Bitcoin, that's already been done with alt-coins.
And I'm quite sure that few countries will try to ban it, and almost none of them will be successful. It's harder than banning the internet and that hasn't ever worked.
Banning bitcoin technology is close to impossible, I agree. But prohibiting the acceptance of cryptocurrencies for shops is a very easy task. You just state that it is prohibited and its done (on national level. But that's enough to seriously affect the usefulness and value of BTC)And I'm quite sure that few countries will try to ban it, and almost none of them will be successful. It's harder than banning the internet and that hasn't ever worked.
And for the altcoins: Decentralized is a contradiction to central bank controlled. So its not done by altcoins today. But I agree that there is an additional scenario: The governments will issue their own cryptocurrencies and prohibit all others that are not state-controlled.
Didn't china ban bitcoin like 4 times?
Even if the government tries to regulate it, how effective will it be?
I wouldn't call today's market cap "significant". How many real things have you bought with BTC so far? As long as Bitcoin is pure speculation the government probably can't do a lot about it (and doesn't care too much). But as soon as it is used for daily purchase by many people a ban makes a major difference.Even if the government tries to regulate it, how effective will it be?
I get takeaways form takeaway.com and pay with bitcoin
I buy and sell stuff for bitcoins on uk.webuy.com
I buy vouchers for high street stores and amazon.com from pock.io
I'm now gonna book hotels any pay with bitcoin!
Bitcoin for everyday stuff
What happens if Bitcoin market cap reaches a globally significant level? In the following I'll try to sketch why it will be in the interest of the bitcoin community to hard fork to a different supply scheme and sacrifice bitcoin's original philosophy.
I encourage you to start an alt coin that has the characteristics that you believe are necessary for success. Then when Bitcoin fails, your coin will be there.
Sorry, but you're wrong. If we want to expand the crystallographic money supply we don't have to fork Bitcoin, that's already been done with alt-coins.
And I'm quite sure that few countries will try to ban it, and almost none of them will be successful. It's harder than banning the internet and that hasn't ever worked.
And I'm quite sure that few countries will try to ban it, and almost none of them will be successful. It's harder than banning the internet and that hasn't ever worked.
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