With the new digital central currencies such as yuan, euro, dollar,... anyone could potentially hold an account on a central bank skipping the intermediaries.
That's not how CBDC will work and there were never planned of something like that. If banks can continue to restrict their customers and charge for money transfer services, then a CBDC really provides no benefit over the current system. |
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What many people forget is that many bitcoins were already lost, some aren't mined yet and others will be lost in the future.
So scarcity is a great factor, but 21M Bitcoins is not even the true number, we will probably never have more than 17M active coins at a given time for >8 billion people! Imagine what owning 1 single BTC will mean in the next years, owning a single Bitcoin will mean a lot, it's gonna be huge. There are >51M people who are millionaires right now, they won't even be able to own 1 BTC each. So having values like $500K per BTC will seem pretty normal, people will dream for $40K per BTC in the future.
The actual number is arbitrary and irrelevant. Bitcoin's supply decreases exponentially and the theoretical maximum value of 21 million will never be reached due to the smallest denomination being a satoshi.
The supply does not decrease. It increases approximately every 10 minutes until it nearly reaches 21 million. The supply only decreases when the amount lost exceeds the production, which is unlikely to happen until the subsidy goes to 0. |
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Some of you have been here from the start. What advice would you give someone just finding Bitcoin. They see the promise of Bitcoin. They are excited but just need some guidance on a good place to start. How can someone finding Bitcoin today have a place in the bitcoin realm? Seems Like doom gloom and negativity Rules the space. Anyone have some optimistic insight? Remember way back. Your the Noob. How would you encourage yourself?
Invest in your knowledge of Bitcoin before investing in the coin itself. Someone who tells you to "Invest in Ethereum & Cardano  " is not being helpful. It is not wisdom. Ignore them. |
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Hello, I think I succeeded! Please, can you verify it? Thank you! -----BEGIN BITCOIN SIGNED MESSAGE-----
Today is May, 25th 2021.
I control the account with the user name, adriaparcerisas.
Signing a message with private key for the bitcoin address, 1HZwkjkeaoZfTSaJxDw6aKkxp45agDiEzN, is sufficient proof of my identity with respect to this account.
-----BEGIN SIGNATURE-----
1HZwkjkeaoZfTSaJxDw6aKkxp45agDiEzN
HMeJRAprme/V+P1ianEJ8rEBKeVLNjMNffKglj8ftzOQ1QrlqctXAaZ+FPSvwLoMDffdWkLMoVsgYOxgCfALP7c=
-----END BITCOIN SIGNED MESSAGE----- Your post popped up here, because the address you signed with is brainwalletx.github.io's demo address. Odd. I wonder why adriaparcerisas would do that. It allows anyone to claim that the account was hacked and prove that they are the real owner of the account. |
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I am new to Bitcoin and want to set up 2 separate wallets or "stacks" of Bitcoin to HODL in cold storage. What is the easiest way to have two separate, relatively private (unconnected on the blockchain) stacks of BTC with the minimum number of devices, keys and passwords / phrases to manage?
Trezor's wallet software allows you to set up any number of separate wallets on the same device. Check out this image for an example: https://i.ytimg.com/vi/VM_ktWKjf68/maxresdefault.jpg |
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The motive is stated explicitly in the introduction of "Bitcoin: A Peer-to-Peer Electronic Cash System": 1. Introduction
Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments. While the system works well enough for most transactions, it still suffers from the inherent weaknesses of the trust based model. Completely non-reversible transactions are not really possible, since financial institutions cannot avoid mediating disputes. The cost of mediation increases transaction costs, limiting the minimum practical transaction size and cutting off the possibility for small casual transactions, and there is a broader cost in the loss of ability to make non-reversible payments for nonreversible services. With the possibility of reversal, the need for trust spreads. Merchants must be wary of their customers, hassling them for more information than they would otherwise need. A certain percentage of fraud is accepted as unavoidable. These costs and payment uncertainties can be avoided in person by using physical currency, but no mechanism exists to make payments over a communications channel without a trusted party.
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. Transactions that are computationally impractical to reverse would protect sellers from fraud, and routine escrow mechanisms could easily be implemented to protect buyers. In this paper, we propose a solution to the double-spending problem using a peer-to-peer distributed timestamp server to generate computational proof of the chronological order of transactions. The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes.
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You don't need to be connected to the network to run Bitcoin Core and open your wallet
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...and that drops the costs of mining which would mean that the price could go down as well.
The price is determined by supply and demand. How does the cost of mining affect supply or demand? |
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Is there a fee for using vault storage?
None at all. Coinbase vaults are free to use, just like your wallet.
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They don't understand it, and they worry that it might affect them in ways that they don't understand. The uncertainty of it all is uncomfortable.
The only way they know how to defend themselves against this thing that they don't understand is to have someone else get rid of it for them.
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With the current situation, the Chinese ban on mining, and the fact that the difficulty raised last time, it is fair to draw that the difficulty will drop.
What will be the consequence for the BTC value?
My guess is that it will raise, because of that.
Why? How the difficulty affect supply or demand? Lower difficulty means that mining is more profitable. It makes BTC more attractive. How does making mining more attractive affect the supply or demand? |
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He said that while no one can print new gold into existence, people can still make cryptocurrencies.
He needs to be reminded that - 1. There are 97 other elements that can be mined in addition to gold.
- 2. There is a nearly unlimited supply of gold if you are willing to pay for it.
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Now that Blockchain technology is extremely popular, it should only be a matter of time before the stock market adopts it to a full extent. Imagine stock exchanges like the NASDAQ and the S&P 500 making use of Blockchain technology. It would totally revolutionize the stock market. Performance, cost-efficiency, and security will improve in many ways. This will also enable interoperability between the world of stocks and crypto.
"Blockchain" is just a buzzword. Without including any technical details, the use of "blockchain" is just a marketing gimmick, similar to the uses of "AI" and "machine learning". A block chain is a kind of database. Would anyone ever discuss NASDAQ on a relational database? I'm sure that NASDAQ developers might consider using a block chain (and quickly reject it), but the discussion isn't very relevant to anyone else. |
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With the current situation, the Chinese ban on mining, and the fact that the difficulty raised last time, it is fair to draw that the difficulty will drop.
What will be the consequence for the BTC value?
My guess is that it will raise, because of that.
Why? How the difficulty affect supply or demand? |
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You're compiling an old, unsupported, and broken version. The current version is 0.21.1 which is available at https://bitcoincore.org/en/download/There was no GetBlockValue in 0.10. You're either trying to get help with some altcoin and concealing it to waste Bitcoiner time, or you haven't run make clean first. But regardless, you shouldn't be using that code. Salty, eh? |
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Are there any contentious BIPs, that could force another block-size type war?
I believe that we do need a hard fork to increase the block capacity at some point, I don't know if it will lead to another long drama though. I also believe that hard fork increasing the max block size will occur over the next 5-10 years. It will be much more contentious than the segwit fork and lead to a protracted soul-draining war. The saddest part is that although everyone will agree with the technical merits for a size limit increase, the strongest objections will be based solely on small-blocker dogma. I believe the end result will be a permanent split similar to BTC/BCH and ETH/ETC, with Bitcoin (BTC) taking the branch with the bigger blocks. |
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Why hasn't anyone suggested wearing a tin foil hat yet? That's what I do.
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