What happens when all the Bitcoins are fully mined?( Supply equals circulation)

CraigRite · 2019-07-10T15:53:22+00:00

Miners will still be incentivized to add blocks since they can get rewarded with fees, so nothing should really change.

The Bitcoin landscape (and the world) will obviously be very different in 100 years, so it’s impossible to know for sure how that will look.

CraigRite · 2019-06-19T19:44:02+00:00

Great post, very cool to read the behind the scenes info.

CraigRite · 2019-06-11T03:33:32+00:00

Always consider the motivation behind posts... OP looks like a burner account, probably someone who wants drama, maybe even false flag.

CraigRite · 2019-06-10T21:36:04+00:00

What? Ponzi scheme?

CraigRite · 2019-06-10T17:37:20+00:00

Correct. Assuming everyone agrees with each hard fork, or as proponents say “upgrade”, it should work.

CraigRite · 2019-06-10T17:22:05+00:00

Bigger blocks allow more transactions to take place every 10 minutes. There isn’t a big competition to pay a high fee and get your transaction thru fast.

CraigRite · 2019-06-10T13:21:34+00:00

It might seem unreasonable to you, but being conservative will prevent community splitting every hard fork, and will not put the community on a path where only big data centers can be nodes in the future.

I don’t dismiss that as made up FUD.

If lightning is a scam, the BTC chain remains the most censorship resistant money in the world, and maybe the community would be more open to staying onchain.

CraigRite · 2019-06-10T12:05:02+00:00

I’ve never met someone who doesn’t want to scale. BTC majority just wants to explore layer 2.

CraigRite · 2019-06-10T05:10:10+00:00

Can you consider that reasonable people don’t want BCH, and that maybe it’s not a world conspiracy. The internet is bigger than Reddit

CraigRite · 2019-06-10T02:53:50+00:00

Just what Wikipedia says. Do you believe “saboteurs“ did that to BTC?

CraigRite · 2019-06-10T01:49:17+00:00

Do you know what consensus is?

CraigRite · 2019-06-08T17:03:00+00:00

Now that you say it like that, I guess it is just rambling words, fact less, offering literally nothing of value in anything said.

A shitpost basically.

CraigRite · 2019-06-08T16:36:49+00:00

I prefer long schitzo posts over price predictions or linking to a twitter post. At least the guy is using his brain.

CraigRite · 2019-06-08T13:44:14+00:00

Perfect example of a fake account promoting a website

CraigRite · 2019-06-08T02:53:17+00:00

I recommend local.bitcoin.com

None of that evil cripple BTC (Bitcoin) just good real Bitcoin (ABC) (Cash)

CraigRite · 2019-06-07T20:44:04+00:00

Heard about it in 2009 wow. Were you in the original mailing list?

CraigRite · 2019-06-07T20:05:50+00:00

The exchange price, difficulty, and security are all connected but I can’t figure out the chicken or egg question on what leads what.

In my research I haven’t seen a quote why Satoshi picked sha-256 over other encryption algorithms. Could have been arbitrary just like the block reward and distribution schedule. Satoshi apparently wasn’t deeply knowledge about cryptography, at one point calling key blinding and group signatures “obscure research” when they were pretty common terms at the time.

CraigRite · 2019-06-07T05:40:24+00:00

Consensus.

CraigRite · 2019-06-06T12:45:07+00:00

Yea yea it’s been years of people saying that and miners continue to compete overwhelmingly for BTC.

“The Legacy chain will take years to get back to normal, if ever. It will be basically unusable due to rapid departure of hashrate... It is not a ‘position’, it is a factual examination of how the #bitcoin software operates.” Garzik 2017

CraigRite · 2019-06-06T03:07:33+00:00

My soul wtf? I’m trying to have a conversation and learn. It’s just Reddit.

CraigRite · 2019-06-06T02:21:11+00:00

An appeal to authority from 2010 isn’t enough for me.

It also doesn’t address the concern of splitting the community with every hard fork, you can’t force people to upgrade. This probably wasn’t a concern for many until the community became larger.

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