Bitcoin Forum

Out of curiousity, What if we create the version 2 of bitcoin? I mean if theres no bitcoin to mine by sometime in 2140, can we just create a version 2 of it that starts from 0 to 21million coins again? If this makes sense, will the first bitcoins lose its value or it will be more higher because it will be a "rare" coin?

It's a very good idea, but I do not think it's that easy to replace bitcoin, though we make bitcoin v2 I think the first bitcoin will always last and the price will go up and always be expensive.

if it doesnt contain bitcoins genesis block and doesnt contain some historic transactions belonging to satoshi then its got no part of being "bitcoin"

anyone can start an altcoin that begins again.. there are already probably 2000+ in existance right now. the issue is not re-creating a coin. the issues is user adoption and more specifically merchant adoption which then causes a reaction to make users adopt it.

Many people believe that bitcoin v2.0 has already been produced. There are several new coins which may have better functions than Bitcoin itself.

The thing is, due to the high fees and backed up blockchain that Bitcoin has had it's not considered a 'store of value'. Unfortunately it was not originally designed to be a store of value, and that major issue opened it up to be replaced by other currency cryptos.

I really like Nano as a currency, it's extremely quick and low fee. This makes it great to be used to transfer wealth.

Bitcoin itself I believe though will not be going anywhere, if anything it will remain a 'digital gold', or a store of value. Whether we like it or not. However, I believe that bitcoin will be replaced with something else for actually sending money quickly and with low fees. The whole 'mining' thing seems to be outdated already, and there are several interesting alternatives to mining such as POS, and the protocol that XBY is trying to create.

As presented, there are more than thousands of alt coins and a lot of Bitcoin forks. None of them will hurt the bitcoin.

no it doesn't make any sense at all because you are assuming that bitcoin exists and is alive only because it is being mined. whereas in reality bitcoin exists to perform as a currency and having 1 circulating coin or 21 million doesn't change that much. search for "what happens when 21 million coins are mined" and read that for more information it is being asked every week.

you can always create a new altcoin and call it any name including bitcoin 2.0 but you are still creating an altcoin. and it will always be a worthless altcoin because you used the name of bitcoin in it.

If ever, Bitcoin will be more valuable - demand over supply law. But, creating a version 2? I think that's somehow impossible, unless not a version 2 but a whole new and different one.

But... there is something on my mind ever since I learned about the supply. If Bitcoin reached its limit, maybe, then mining stops - no more miner, what will happen to it's rate; transaction fee, speed, confirmations?

There are about 100 coins in existence that want to be "Bitcoin v2.0". Almost every alt coin has been created to be the next bitcoin. How many have done it? None. Why don't we let Satoshi's creation as it is...and let the people of 2140 create their own advancement on this technology or otherwise.

Sound good?

You can create another product from the original Bitcoin source code, but it can not run and run on the same platform. If this happens and isn't accepted by everyone, then it is just a false token and not feasible.

you create version 2 of something that has stopped being improved. but bitcoin isn't just standing there without any change waiting for a new version to come by. bitcoin is constantly improving and becoming better. by the time you have in mind bitcoin will be very different from today as today it is very different from 2009.
you can always create new projects and if they are good they may even become big and stay alive in the long run but it won't affect bitcoin. bitcoin will remain the biggest one.

I never think anyone can make bitcoin v.2, because so many things can not be done by the history of bitcoin before. I do not think it's possible.

I really like Nano as a currency, it's extremely quick and low fee. This makes it great to be used to transfer wealth

I don't think that it is needed. First of all, even all the supply of Bitcoin has been mined, miners can still earn Bitcoin from transaction fees. I understand that you think that it might happen that people specifically miners will switch to another cryptocurrency if Bitcoin is not profitable to mine anymore because there will be no more block rewards. But I think Bitcoin developers can find a way about that, and for me it is too early to think about this problem, just think of this are we still alive if the last Bitcoin got mined? I don't think so, this is for next generation to create a solution, if cryptocurrencies are still alive after more than a hundred years.

I think that could be, the evidence now there is also bitcoin cash, bitcoin core, it is a bitcoin peranakan whose price is high enough for now.

I think if ever the total supply of Bitcoin has been mined, it will affect the price because there will be no more miner of BTC and there is possibility that Bitcoin 2.0 will be created. For the original BTC, i think the value will not be totally diminished, supply and demand will applly regarding its price.

As far as I know, there have been many attempts to do this, but I doubt it’s going to get as big as bitcoin.
Coins like bitcoin cash have tried to become the Bitcoin v2 but it’s very unlikely to take over. I do see coins like ETH or Monero that have potential to take over Bitcoin after a long time, but at this current state,
I think making a v2 of bitcoin would be pointless as there are other cryptos that offer a better opportunity in terms of technology.

How will your bitcoin differ from the many forks?

Essentially outdated technology will not be able to achieve the same success in 2041

2140 year. :o  I will not live to see that time, but I think that bitcoin will already be very expensive there, as we can not imagine.

a friend told me about bitcoin 2.0 but I can not believe it so I sold all my bitcoins and invested in Socrates where I already earned more than bitcoins

I think if  the total supply of Bitcoin has been mined.It will affect the price of bitcoin and increase will demand. Because there will be no more miner of BTC and there is possibility that Bitcoin v2.0 will be creation. For the real BTC, I think the price will not be totally diminished, supply and demand will applly effect its price.

Hard forks? There are no need for more useless bitcoin replicas. BCH one of best I believe, rest is fading away.
There are too many coins already better than BTC. BTC is main, because it's first.

There wouldn't bitcoin v2. There are already several other altcoins that have tried to use similar but improved technology to do the similar task as bitcoin. Also if there have been Forks conducted in order to add new features to the blockchain like Bitcoin Cash, Bitcoin Gold, etc.

I do not think there will be a second version of bitcoin, because bitcoin is so valuable that it is the only one of its kind. He will always remain so and will always be in the first place.

Do you really think this is necessary?  Now many altcoins and platforms are developing and quite successfully.  Bitcoin - father, and other parents do not need to crypto currency.

Just stating the obvious here: Bitcoin is v 0.16.1, not even at 0.2
I think it's little early to ponder a hypothetical 2.0 8)

And yes, I know that this is not what the OP meant :P

Of course you can make bitcoin v2, and I'm sure everyone who is competent can do it. But it can not beat bitcoin, because bitcoin is the world's first cryptocurrency, practically the mother of crypto. It would be very difficult to beat the prestige.

I agree, but in the end Bitcoin resources are running out and what's up? A lot of BTC is lost by lost kuche to wallets. In fact, it will not be 21 kk on the market but only slightly less.

Don't ask the opinion of others, just fulfill your idea into life and make money on it  ;)

Bitcoin 2.0 is a good idea for the development of Bitcoin, but I do not want it to be forkbitcoin. Bitcoin 2.0 must be fully recognized by the community and Dev support!