Post
Topic
Board Bitcoin Discussion
Re: The truth about bitcoin
by
dohh
on 25/06/2018, 12:20:22 UTC


They don't speak for Bitcoin. You still have avoided answering my question as to who you think they are.

I will tell you that that limit *could* be changed. It's only part of the protocol and if a majority of the network wanted to it could be increased. I don't think that is likely to happen.

It is however completely ludicrous to say that "Bitcoin promised" anything.

You are also completely missing the point of what Bitcoin is about. It's not about 21 million coins it is about trust.

https://nakamotoinstitute.org/bitcoin/#selection-49.4-49.211
Quote
What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party.


I know, this limit could be changed, thats what I suggested. Setting limit of 21 millions was like saying "there is 21 tons gold to mine", changing it would be equalt to :"no there is actually more". Who set this limit? Definitely not "open source crowds".

Maybe I used bad English, bitcoin hasnt promised. Bitcoin IS a promise. A promise, that blockchain technology can be used for creating cryptocurrency. There problem lays here: while Im bad in English, my math is very good. Producing coins like this with the reasoning of creating independent anonymous, yet traceble currency, is not reasonable. If I have time tomorrow, I may give it a try and calculate for You, what is REAL production cost, that is made for producing one coin.

Why You send me links from nakamotoinstitute? I was very polite to pick 3rd party sources, why You answer me giving me proof of what You are saying, written other people, like You? Would be the same, if I sent You article from web page bitcoinisfraud.com instead of reuters. I know, what enthusiasts have to say.

And whats the point of Your last sentence? We have already electronic payment, based on strong cryptography, if needed almost anonymous too. And absece of third party? That wont be granted with bitcoin too. Or how else You would call blockchainers?