Post
Topic
Board Bitcoin Discussion
Re: Bitcoin's fundamental flaw
by
Ucy
on 19/02/2021, 10:19:03 UTC


The first is that bitcoin is designed for the mining reward to be an incentive for proper network behavior. What happens when there are no more coins left to mine? Who do we trust to validate blocks with no reward incentive? It is possible that people will continue to do this just to maintain the network because they believe in it's mission. It is better to trust this function to the system than to the whims of people.



Well, I guess the rule is designed to be hard to change. I think the rule should be built around Bitcoin principles and should be changed through right public consensus when necessary. The changes should not violate Bitcoin principles.


By the way, if Bitcoin is that hardcoded, I'd suggest that an advanced Bitcoin substitute be created. The substitute should be very compatible with the old Bitcoin and its ideals. You can then make the substitute customizable but bounded by the Bitcoin ideals/principles. I guess for Advanced Bitcoin to become the new/real Bitcoin, all Bitcoin holders, stakeholders and network participants from old Network will retain their assets and positions on the advanced Bitcoin Network. 

The Advantage Bitcoin Network should be Network with many chains and other decentralized networks/systems.
You can merge the old chain with the new Multi-chain Network