Bitcoin Forum
May 28, 2024, 01:10:04 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 2 3 4 5 6 [7]  All
  Print  
Author Topic: What if someday Bitcoin Foundation votes to remove 21M limitation?  (Read 6049 times)
meowdea
Newbie
*
Offline Offline

Activity: 17
Merit: 0


View Profile
June 29, 2014, 10:02:36 PM
 #121

Hm... let me guess... nothing will happen, I suppose
Harley997
Sr. Member
****
Offline Offline

Activity: 266
Merit: 250


View Profile
June 30, 2014, 01:16:50 AM
 #122

Then the world would laugh and quietly ignore such nonsense.

But worry not, such craziness won't occur. It's not under anyone's control except consensus of the community.

Even if the core devs vote to remove the 21M limit, it still won't make it so.
hopefully it will not happen, but if what happened was bad possibilities that will arise.

Bitcoin Foundation would never do such a disruptive thing.
Anyways, you would need to fork bitcoin, and you cant do that without atleast 51% hashrate, therefore bitcoin foundation alone cant do any major things without comunity backing that up.

cheers
A hard fork can be done with any amount of hashing.  You don't need 51%.  You are confused. 
The hard fork coin would need to be accepted by the miners in order for it to have any kind of security.

▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
PRIMEDICE
The Premier Bitcoin Gambling Experience @PrimeDice
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
cinder
Full Member
***
Offline Offline

Activity: 153
Merit: 100


View Profile
June 30, 2014, 01:22:11 AM
 #123

Then the world would laugh and quietly ignore such nonsense.

But worry not, such craziness won't occur. It's not under anyone's control except consensus of the community.

Even if the core devs vote to remove the 21M limit, it still won't make it so.
hopefully it will not happen, but if what happened was bad possibilities that will arise.

Unlikely to happen. If it does, bitcoin holders can just sell it off to move to another coin.
eden1
Member
**
Offline Offline

Activity: 78
Merit: 10

★Bitin.io★ - Instant Exchange


View Profile
June 30, 2014, 01:39:20 AM
 #124

Wont the exchange rate go through the floor?

nahtnam
Legendary
*
Offline Offline

Activity: 1092
Merit: 1000


nahtnam.com


View Profile WWW
June 30, 2014, 03:41:46 AM
 #125

Im slightly curious. If they do "vote" on that, how will the apply the change? If its an update, cant we vote not to update or something? I have never seen something like that. (Dogecoin did, but I dont know how that works).

bitpop
Legendary
*
Offline Offline

Activity: 2912
Merit: 1060



View Profile WWW
June 30, 2014, 09:31:12 AM
 #126

Fuck the foundation, they have no authority

galbros
Legendary
*
Offline Offline

Activity: 1022
Merit: 1000


View Profile
June 30, 2014, 09:38:45 AM
 #127

My fucking god. The Bitcoin Foundation has no power. Realize that.

This guy nailed it on page 1.  Seven pages later we are back to this. 

Maybe a better question is, what if Ghash.io votes to remove the 21 M limitation!  Wink
bitpop
Legendary
*
Offline Offline

Activity: 2912
Merit: 1060



View Profile WWW
June 30, 2014, 09:39:48 AM
 #128

Death to Bitcoin foundation and ghash

Pages: « 1 2 3 4 5 6 [7]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!