Post
Topic
Board Economics
Re: Bitcoin halving to be canceled?
by
sorryforthat
on 23/09/2015, 03:23:39 UTC
Can not cancel something that is build into the design.

What is made by one human can be unmade by another human (and most certainly will be). Personally, I wouldn't count on this...

Laws carved in stone are rewritten in blood

The miners can just modify the reward as they feel fit.
Unfortunately, for them, the blocks with a different reward will be considered invalid and rejected by the full nodes.
They can mine as much as they are able, but the rules on the other full nodes will not change and their blocks will be discarded.
For example, the exchanges will not accept the bitcoin mined by invalid blocks. The shops will not accept them.

Now, the Core developers could change the rules in a new version of the Core, but I would not count on the users to download and upgrade their nodes with the new code when they discover what is in it.

Necessity is the mother of invention

If Bitcoin halving will negatively affect its infrastructure, up to a point of an escalating failure (e.g. due to miners leaving), this may be the only option, that is, to change the protocol and cancel the halving...

You dont seem to really understand that if you change what has been planned for years then you lose faith and trust from users. Big government can print money at a whim and does so daily with absolutely no backing, and by allowing Bitcoin to do the same, it then becomes what it was set out to go against.