21 million for bitcoin
21 million for us
These are two different issues, but most people is paying attention to the price of Bitcoin,which is very sad.

For us,Bitcoin is increasing every day of our life. This is correct,But if growth is lower than people's needs, it is actually scarce.
This is happening now, or not happening, the performance of this uncertainty is the price.
For us, the difference between 21 million bitcoins or 21 trillion bitcoins is our imagination.

For bitcoin, the difference is that the data.

I am very happy to see this, and I thought of this question a few days ago.

I need to explain what Bitcoin is, which makes me feel bad, especially after many years.

Bitcoin address: This is an account
Private key: This is a password
Public key: Allows everyone to verify the account password
Block: This is a piece of A4 paper with the transfer information of the account written on it

Miners: It is effective to use computing power to compete for whose A4 paper is valid. Record transaction information on the valid A4 paper, add rewards specified by the rules to yourself, charge byte fees, and spread the A4 paper to the bitcoin node network.

It's that simple. Some people say that the address is an invoice to weaken the importance of the address and interpret the concept of an account as a collection of all Bitcoin addresses (HD wallet)

Some people say that A4 paper is too small and we need larger paper. This is to change the block size (bitcoin cash)

Some people say that A4 paper is too small and we need to simplify the recording method. This is segwit (bitcoin core)

No one said that A4 paper and recording methods are our rules, and we don’t need to change the rules for more transactions (bitcoin is disappeared), there are no miners, no new blocks are generated

Changing the size will increase the miner right to record more transactions and increase the amount of A4 paper in the hands of the miner. Recording is power.

Segwit, let A4 paper have weight? is it necessary? Or the will of traditional currency issuers.

So, how did Bitcoin disappear

Unusually increase the price of Bitcoin, so that everyone is immersed in the joy of making money, and then create undue difficulties, and propose to change Bitcoin

They said that Bitcoin is great. If Bitcoin can be used for all transactions, how wonderful, we will have a decentralized world, and the price of Bitcoin will be higher. Who is against it?
No one objected, after all, the price is really increasing, and the transaction fee is too expensive.
Then, Bitcoin proposed Segwit.

Miners will of course agree, but this is not enough. China Miners want more A4 paper. Bitcoin cash appear. The will of traditional currency issuers?

If it is said that traditional currency issuers would watch Bitcoin compete for currency issuance rights and do nothing, that would be naive. For currency issuance rights, war can be waged and the president can be killed. Why can’t Bitcoin be murdered?

The sword used is the printed money. Who can stop Bitcoin holders from making money is the enemy, and whoever has bad intentions is the bad guy.
Because of money, higher prices, better stories (Lightning Network) to change Bitcoin.

The Lightning Network will not change the code of bitcoin core, because already have Segwit.
this will change the way people use Bitcoin, Rely on the channel or rely on the blockchain? Is bitcoin not on the blockchain?
Just like Bitcoin Cash Simple Ledger Protocol does not change any bitcoin cash code, but wants to put an elephant into the bedroom. Does the bedroom need an elephant?

In the world of truth, no one needs to be respected and no one needs to belittle anyone

1. The block size cannot be changed, I totally agree. but block size is rule and related to the price.
2. The transaction method of Lightning Network is a supplement to Bitcoin transaction, not Bitcoin transaction method. Is this correct?
3. It is difficult for other clients to have an impact on Bitcoin
4. These are users and investors,is two different groups. Now investors dominate Bitcoin transactions, right?
5. Because the Bitcoin core team used influence to change the Bitcoin protocol rules, such as segwit.

This is correct, but this is inconsistent with reality nowadays. The influence of a single person exists. This is normal. I don’t object to this.


This is correct.

1. All transactions need to buy block bytes to confirm the transaction. Segwit reduces the number of bytes needed for the transaction. The bytes limit is the block size, and the expansion of the block is to increase the number of bytes.
Can’t increase the block size or reduce the required bytes because of the scarcity and high price.
The Bitcoin limit cannot be increased, and the block size should be the same.

2. In fact, miners get transaction fees. Increasing the block size will increase the number of transactions per block and the total fees,and lift the limit on the number of transactions confirmed by miners in each block.
The transaction volume is not bitcoin real purpose, and the basic rules cannot be changed in order to increase the transaction volume.

3. Buy coffee is just an example. Why do you want to talk about the confirmation time because you want to introduce the Lightning network?
That is, would you still fantasize about buying coffee with Bitcoin?

4. When the Bitcoin is controlled by core, it is bitcion core. This is normal. People will listen to experts, right?

5. The free market, have you ever bought stocks?
Investors try to make a profit, but investors are not disadvantaged. They will use all possible methods to increase prices. This is how the story comes about, making people believe that a certain price is profitable, right? This is different from the user. The user will say, can this work? Is it really necessary?

6. Rising transaction costs are normal, but they are treated abnormally. People try to eliminate this normality, this is absurd.
The increase in transaction costs before the hard-forks of bitcion cash is abnormal and is manipulated, so transaction costs will decrease afterwards. You believe in a free market, just like you believe that everyone is kind.
Hard fork is a manifestation of manipulation.

7. Thank you very much for reading the complete article. I seem to irritate some people, but I am just expressing my doubts and thoughts. As for those who want to make money with bitcoin, I did not say that bitcoin core or bitcoin cash will Decline, on the contrary I said that the price may be higher

I seem to offend you, Bitcoin Gold is a joke, I never said that SHA-256 is a problem

but, the transaction signature is not in the block or the block is big than 1M.
backward compatibility: bitcoin adress is called legacy

What is legacy?

sorry for that,is Segwit

2, Blocks that do not contain signatures should not be blocks of the original Bitcoin.
3,you are wrong

1. Lightning network is not a Bitcoin transaction way
2. Segwit is not a Bitcoin transaction way
3. Blocks larger than 1M are not Bitcoin blocks
4. The rapidly increasing price is a sharp knife to Bitcoin

I was shocked that during the hard fork of bitcoin cash, there was no bitcoin that rejected segwit and refused to expand the block. At this time, bitcoin became not bitcoin.

Transaction volume and fees are not the flaws of the original Bitcoin.

I can understand that the user pays transaction fees to buy the bytes of the block, so the byte of the block is a commodity, and the quantity of this commodity is fixed. The demand comes from the fact that the trader needs this byte to confirm the transaction.

Therefore, expanding the block is like increasing the Bitcoin limit of 21 million, and segwit removing the signature data is like buying half of the goods. This is cheating, deceiving, not innovating. As for the lightning network, I can’t understand everyone looking forward to the lightning network

lightning network

This is to fundamentally change Bitcoin and reconsolidate the decentralized rights into the hands of a few people. Segwit is increasing the rights of miners, and expanding blocks is to issue more commodities to miners, just like the right to print money for miners.

These are not the way of Bitcoin. The transaction volume is a pseudo-demand. This is not a real problem. The real function of money is not to pay the bills. The function of money is to store value.
It is naive to imagine Bitcoin to buy coffee, but people can use Bitcoin to buy coffee consumption cards or coffee points. This is okay, and there is no problem of privacy leakage.

The centralization of small consumption is not a problem, because small consumption itself is decentralized. When gold and silver are currency, no one has ever come out and say, let us change gold, change silver, let us change gold and silver When copper coins are used, they can’t be used as copper coins to buy coffee. Is that still money?

So, the original Bitcoin has disappeared forever on #478559 / 1 August 2017 (3 years ago)

Now that there are bitcoin core and bitcoin cash, they can’t be said to be the original bitcoin, they are modified versions of bitcoin.


As for how Bitcoin disappeared, the reason is the price. The huge price increase created the illusion of success of Bitcoin. But, when Bitcoin and price are closely linked, Bitcoin cannot be used. This price increase is traditional currency issuer attack, no one noticed

The currency issuer has successfully controlled the development of Bitcoin. A few people decide the way forward and change the way Bitcoin is traded. Everyone thinks it is technological advancement?

Bitcoin is just the same ledger shared by many people. Now everyone is discussing, let's change the accounting method. Unfortunately, this proposal has been successful.

I don’t know if someone rejected segwit at the fork and refused to expand the block of Bitcoin. If so, please let me know. I can say loudly that Bitcoin has not disappeared.

How much Bitcoin is worth, the focus has become traditional money, not Bitcoin. The abnormal price growth has attracted a large number of investors, not users.

Investors continue to change Bitcoin, making Bitcoin a perfect story, but it is only a story. Investors say that they want to replace Visa, but they don’t say why they want to replace Visa. It’s just a valuation of Bitcoin based on Visa.

The user looks at the rapidly increasing price and can no longer buy  bitcoin in a short time. The investor said that you can buy 0.00001 bitcoin and it will be very valuable in the future, trying to convince the user to become an investor.

It is the high price that makes Bitcoin unavailable for daily use, not the transaction volume and Bitcoin transaction fees.

It can be said that Bitcoin must have a high price, because as the number of users increases, the demand will rise. This is true, but what is needed is as the number of users increases, not as the price increases. The number of investor will increase.

Traditional currency issuers, using money as a sharp sword, successfully allowed Bitcoin to be used only for large speculation, and then manipulated the market, making Bitcoin a sword that stabs people and harvests people money.

This is not Bitcoin. This is a dog of a traditional currency issuer. The wolf is attracted by the printed food and surrenders the rope to control itself.

This is a sad story. Maybe the price of Bitcoin will get higher and higher in the future, but this is not the success of Bitcoin, it is the success of traditional currency issuers. No matter how much it increases, the only purpose of Bitcoin is to convert it into traditional currency that can be used.

So, Bitcoin will not become money, so how can you buy coffee? In order to allow Bitcoin to buy coffee and change Bitcoin into an investment product, is this a huge joke?

What is the reason why the usage rate of segwit has not been high? It can reduce transaction costs and change the address format.

There is also an HD wallet problem. This thing is also very bad, but it is completely accepted. Use seeds to generate an unlimited number of addresses. You only need to remember a dozen words to use these bitcoins. It looks good, but it will Bring great insecurity.

The developer completely isolates the technology from the user, and the user does not know what address, private key, public key, and signature are. These things should be extremely simple, so that all users understand what is protecting Bitcoin, not a dozen words Protecting the funds they have worked so hard to get.

Human beings are very fragile individuals. They will forget and leak. Even words written on paper are sometimes lost. When HD wallet leaks or is lost, all bitcoins will disappear.

HD wallet does not increase security, but it can reduce the number of wallets. HD wallet can only increase the convenience of multi-account use of transactions.

Multiple accounts and identity isolation

These should be done by users themselves, not by developers instead of users. Users can generate multiple Bitcoin addresses, completely independent, and will not lose all Bitcoin due to the leakage or loss of a dozen words.

Bitcoin does not need frequent upgrades, it is just a shared ledger, but now it is hiding the ledger, changing the ledger, and allowing users to use it without knowing it.

Only when people can understand the private key and public key, and after signing, will they be able to use Bitcoin with confidence, instead of trusting a wallet program and not even knowing what they are backing up.

Anyone can understand Bitcoin. This is not advanced technology. It is just a method of bookkeeping. It does not need to become more and more complicated. Anyone who says that ordinary people cannot understand Bitcoin is wrong.

This is what I said, Bitcoin has disappeared.

that’s okay