The reason why I'm proposing an additional 9m Increase in supply of bitcoin is because with increase in adoption of bitcoin, I feel it may not be enough in global circulation.
Secondly it may be too scarce to get with increase in adoption and usage.



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The reason why I make it 8 years is based on the halving principle of 50% decrease in miners reward every four years. Let's make it 100% increase in the number of years before 50% halving of the reward of miners and bitcoin being mined.

I have studied the Bitcoin's white paper which is generally and fashionably called the Bible of bitcoin.

Well, I've been thinking lately about some of the fundamental principles of Bitcoin as stated on the Bitcoin bible authored by Satoshi Nakamoto.

 If I'm given the permission by Staoshi Nakamoto to innovate or change something in bitcoin. Here are the two things I'll do and the reason why I'll do them.

1. I'll increase the Bitcoin supply to be pegged at possibly 30million and the date for the last mining will still be 2140.

 The reason is simple. I feel the supply of Bitcoin at pegged 21m will be too limited for the global economy.

2. Adjusting the Bitcoin Halving. The Bitcoin Halving is currently in every four years were the reward of miners is halved. I'll now adjust make it every  8years.

That means after 2020 halving the next one will be in 2028.
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The reason is this. The Bitcoin blockchain is working and running effectively because miners are working to maintain the ledger. Therefore, I want their reward to be sustained for a long time before the era of payment of transaction fee.

What do you think will be the effects of the Proposed changes to the bitcoin ecosystem?

What'll like to change in bitcoin fundamental principles if permitted by Sataoshi Nakamoto?



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The reason why I didn't post this question in either bitcoin mining child board or altcoin is because it neither for bitcoin nor altcoin, its for the general crypto mining.

The questions are for mining software and Hardware tools for the cryptocurrency.

So, I feel it is suitable to in the discussion section.

Projections and analysing the future look unreliable or unreal. We can see how many companies and government made some plan this year but no one knows if there will be a disruption of such plan by coronavirus pandemic.

That's why Lord  Maynard Keynes said" in the longrun we are all dead" so our analysis should be in the short run because we are still alive.

That's very valid

Mining techniques.
Some of the mining techniques I have read about from some online resources are;

1.Cloud mining.
This is simply funding a miner to mine and share the reward with you at an agreed profit sharing formula.

This money can go into the drain if there is a ban of mining in such country by the government or there is a hacking attack.

2.Software mining.
This is when you download some software applications to use for mining purpose. Well, expert said this mining technique is profitable. I'm not yet convinced about how this works.

3.Hardware mining.

This is the investment of a miner into hardwares equipment such as ASIC, GPU rigs and others to mine. While this is capital intensive ...it is said to be the most profitable.

I believe there is more depth to the explanations I  provided above.

This i want to be the crux of this discussion.
What are your opinions regarding the above mining techniques.

Which of these mining techniques do you encourage an aspirational miner to adopt?

I found this material helpful: https://www.google.com/amp/s/www.bitdegree.org/tutorials/how-to-mine-cryptocurrency/amp/

Let me add one or two things to what a blockchain is.

Blockchain is a software technology that function as a ledger where crypto transactions are recorded. This transaction are transparent and public that everyone can know what's going on there at the same time. Once any information is recorded on the ledger, it can never be altered.

Misconception
Many people think altcoin is same with alternate currencies. I made the mistake too one time.

Altcoin is  digital currencies or cryptocurrencies other than bitcoin: example  are; Litecoin, Etheruem, Monero, stela etc.

While alternate currencies could mean any currency which could be fiat or digital that's different from the currency one uses.

I hope this help.

Great anaky analysis and forecast.
What I'm not really sure is if the 2020 Halving will lead to a high surge in price because the economic condition is dynamic.

Considering the fact that there was no Coronavirus in the past two Halvings

Greetings house, I'm creating this thread to engage the house on the issues I have been expecting as the 2020 Bitcoin halving event draws near.

The three variables in Bitcoin that are very important this season are:

1. Bitcoin Halving.
This is a core protocol that Sotoshi Nakamoto built bitcoin supply side economics on. It ensures that Bitcoin mine into the market is reduced by 50% every four years. This will lead us to the second variable.

2. Bitcoin Mining: this is the activity that ensures that new bitcoins are generated and added into the already existing volume of Bitcoin in the market. These bitcoins mined represents the reward of miners.

Well, Halving automatically reduce the reward of miners by 50%. The question is what'll happen to their revenue since mining is a very capital intensive business?

This will lead us to the third variable.

3. Bitcoin Trading & Price:

During the Halving speculators and investors expect that the Bitcoin price will surge because of the deflationary philosophy of Bitcoin supply,  Which is based on the basic principle of economics which states that centers paribus, price will increase when supply is lower than demand and vice versa.

So, this will give opportunity to traders to profit.

of Bitcoin Halving Dates ,Halving BTC Amount and Price Surge.

Since BTC invention we've had two Halving which were in 2012 and 2016. The next one is May, 2020.

1.In 2012 Halving: the mining reward was 50BTC starting in 2009 and it was halved by 50% which reduces it to 25BTC. In the same year the price of BTC surged from $12 to $1,038.

2.In 2016 Halving: The mining reward was halved by 50% which reduce it from 25BTC to 12.5BTC. In the same year the price of BTC surged from $650 to $2,526.

3. The Upcoming 2020 Halving: the reward of mining when reduced by 50% will declined from 12.5BTC to 6.25BTC.

Here is the issue for our learning:

1. The historical trend has shown that the two Halvings had corresponding rise in price of BTC.

So, will this 2020 Halving also bring about a surge in the price of BTC considering the coronavirus pandemic?

2. As the reward of miners is halved by 50% in every four years, by 2140 the last BTC will be mined.

So, miners will henceforth generate revenue from transaction fees but how will this be profitable to miners compared with their cost of operations?

Data source:https://blockgeeks.com/guides/bitcoin-halving/

I would start by commending you for taking out time to compile a robust resources for the community. Well-done.

I have a suggestion for a better organisations of these resources and materials.
There should be a categorisation of this materials based on various subjects. This is what I mean;
1. Mining threads should be categorized
2. Wallets threads should be categorized.
3. Pishing threads should be categorized.
3. Exchange threads should be categorized.

This will help people to easily find resources based on such system of categorization.

You have an epic journey that I will really like to emulate. Sure, its good to emulate people that have results because they have proven strategies.

Let me add to the point quoted above. Well, it should not always be based on merit reward that we make substantial threads and comments, it should really come from a desire to contribute to the growth of the community and to learn.

This is because sometimes some helpful comments and threads won't generate merits. So that you shouldn't be disappointed when this occur.

To me, I have made up my mind to contribute in a qualitative ways to the growth of the community- my efforts may generate merits or it may not but I'll keep on doing it.

Yes, that's it.

That's a great value Metamask have over others in regards to blocking suspicious botnet or malware sites.

Does Metamask detect only crypto related sites or all site that look suspicious or that look insecure to use?

Probably a site that lacks SSL certificate may be very prone to hacking.

Fine statement. This is how its associated with BTC. Agree first that the economy are parts that fits together.

Do you know there are certain oil investor's that also invest in BTC or cryptocurrency. So, if there money go down the drain that'll affect the demand for BTC...
when the demand for BTC is less price will plummeted.

So, there is a chain reaction when any variable adjust in an economy.

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You actually have a solid point with this lines. For a better understanding can you explain what you mean by those terms and what can cause BTC to take negative values based on your example?

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I believe what you mean by the term buggy is that it contain some bugs or programming errors that make the software to malfunction right.

Do you have a personal experience using it? If yes, which area of the extension you discovered these bugs. The reason for asking this is because I have read on googel about some great features about it.

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Thanks for this helpful comment regarding caution in downloading the extension.
I believe cyber criminals use close websites and botnet to steal people's information.
I also wish to know if there are platforms where one can know if the metamask site or URL is a real one or not and it should also be able to check the authenticity of other sites.

I  believe this is a need as one explore the digital resources.

[moderator's note: consecutive posts merged]

Pls,  you have gone deeper in this your comment and its good I and other people who love knowledge know more about some of what you said.
How do we explain constructing , mining and hashing as it relates to mining?

You also said that the equipment used by both solo and pool miners are thesame then how do pool miners achieve better results than the solo miners?

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That maybe true but the more technical the more the depth of knowledge one will have. You can't be an authority in crypto if you're not familiar with its complex or unique terminologies and jargon.



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Metamask is a browser (Chrome, Vivaldi, Opera and Firefox) extension that makes it convenient for web applications to interact with the ethereum blockchain.

I've read that this extension can change and track activities on a web browser. It has been recommended by some forum also that its suitable and great.

https://www.sitepoint.com/metamask-ethereum-blockchain/

I want to hear your opinion on the following.

1. What make this extension to really stand out?

2. Why should you advise me to use it?

3. Why will you advise  me not to use it?

4. Do we have better alternative to Metamask?

Well, thank you for this impressive thread.

To me, my quest and goal is to build my knowledge in cryptocurrency.  With the relevant knowledge, I'll  be an authority in this industry.

As a copywriter , I want to be able to write great copies in this field and also become a crypto whitepaper writer.

I have started putting in the time and effort to achieve this goal....

I sense the difficulty of bitcoin mining will continue to increase as the transaction on the blockchain increases.