2140,

the last fraction of Bitcoin is mined. Let’s say another million gets released-(Satoshi’s stack) wondering if thats possibly how it goes and that carry's Bitcoin on for 100's of years to come?

Is that why the million just sits there untouched?

When you read the code, what happens when the final bitcoin is mined in approximately 120 years from now?

Also, if anyone can explain very briefly on how you could possibly increase the supply of bitcoin. If I remember correctly, you need a certain percentage of network users to agree to change the code in order to change the supply?

Side note, I got my mother in-law to buy $2k worth of bitcoin today.

I said to her, why not buy like $500 and just watch it, see what it does?

Right away, she said might as well make it worth it, let’s do $2k.

It’s extremely hard getting the older generation to buy bitcoin, they’re very skeptical about it, but I’m glad she finally agreed to buying some. I’ve been working on her for a bit now.

I’ll be HODL’n it for her as she is far from being tech savvy lol.

What a great day!

#asknostr

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Good job man. Great day indeed

Oh ya, she’s starting to understand it.

I have to work on the FIL, he’ll be a tough nut to crack.

Dude, i've been at it to literally everyone. In 2,5yrs i haven't orange-pilled anyone 😥

They really have to want to understand it, if they don’t, they probably never will.

Some people are just so far gone and have their faith locked in with the legacy system…they’ll likely never understand.

It can be exhausting forsure, but never give up and keep on trying, even past the point where they’ll start to think your crazy and it’s all you ever talk about.

They say for advertising a business, it takes people about 15x to see or hear about it before they even remotely begin to understand or even buy your service/products.

Strange, my mother in-law bought some yesterday after 7 years of badgering. 😆... Something is happening.

Holy shit! 7yrs? Glad you stuck with it. 🤙🏼

Don't know why but I'm horrible at orange pill'n people.

Don’t worry, we both are 😂

I’ve tried to OP many, but nobody wants to listen.

Some people don't want to see behind the curtain.

The truth hurts, it can be very hard to stomach and most simply can’t handle it.

Some days I have to quit searching myself, it’s tough sometimes realizing how much of a lie we’ve been living for so long.

Same here

The miners can choose to start a chain that would increase the overall supply, however it dilutes their holdings so they are not incentivized to increase coin amount.

This is what happened with bitcoin cash right?

I believe so, they wanted bigger blocks. They did a hard fork so the miner must choose which chain to validate as the longest.

A soft for like OP_ cat can be something you can choose to use or not, its backwards compatible

Why would you want a longer chain?

The proof of work is determined by the length of the chain. When a new node connects to the bitcoin blockchain, it begins by downloading the entire chain from its peers. The node will look for the longest list of transactions provided by its peers, as the longest chain with the most proof of work (blocks) will be adopted by all peer nodes. Once the hash of the next block is created, it is broadcasted to the network, signaling the search for the next block and record the newest block.

The current longest verifie blockchain is “bitcoin”, which records the movement of every satoshi since 2009.

To manipulate transactions, a bad actor would need to create a longer chain of authorizations to compete against the established blockchain. Which is called a %51 attack as the bad actor would require 51% of the networks hash rate to create and announce a different blockchain outside of the market for blockspace.

Increase in supply is an hard fork, a change in the rules that is not compatible with the current ones, so when you hard fork you are basically creating a new coin with new rules and you need almost everyone to accept that this new coin is still the real one, a majority of miners would have to agree, and most nodes would have to agree also.

Excellent, thank you.

So because Bitcoin solves the Byzantine general problem of double spending, in short, is it safe to say hard forking is comparable to what the Byzantine general did by making more coins by diluting the existing coins?

Is my thinking correct on this?

The network doesn't actually need all of these miners. It's okay if they shut down.

to change the consensus in a successfully way (ie: without risking that your fork goes to 0) you don't need the majority of users, you need the majority of the economic power. Let's say that within that date the govs manage to get 80% of the supply (via ETF or by law-enforced custody of user funds or simply because users keep their stack on exchanges). In that case they can successfully change the supply

So you’re referring to a 51% attack, correct?

All one person or group really needs is 51% of the total bitcoin supply to have full control essentially?

no, a 51% attack is another thing. That consist in the ability of rewrite a significant number of blocks, allowing a double spend. In order to do that you "only" need the 51% of the hash power for a certain period of time (depending on how much you want go in the past). In the previous reply I was talking about the control of consensus.

Ok, I had a feeling it was but wasn’t exactly sure. I thought maybe they were maybe both co-related somehow.

When the subsidy ends, mining still continues.

Even without transaction fees, or even transactions, there is incentive for mining to continue. Satoshi's million coins is Satoshi's alone and will not be claimed by the system. In the code, the subsidy gradually drops to zero and then there is no more new coins generated. Existing coins would still be spent and block production would continue.

For the supply to increase you'd need an economic majority to indicate support, then apply a hard fork, and hope for the best. I very much doubt this would be achieved. Game theory alone makes it improbable and a success on it would be indicative that future inflation would happen over and over negating a key reason to use it.