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Author Topic: Things on my mind about bitcoin lately  (Read 1016 times)
Hippos4ever
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May 29, 2018, 12:38:08 AM
 #1

So I obviously hope I never have to deal with the first of these two issues I have but what if Gaven Andresen dies off and doesn’t pass on the alert/control features that Satoshi bestowed to him, would community have to legit hard fork to even stay in the realm of ‘new development’ not sure how that works as I’m not a dev at all, hence my question. Not sure how the BIP’s are actually approved or implemented and ATM believing is all basically comes down to getting Gavin’s ultimate approvi. Which like I said I worry may at some point ultimately be a issue.

Another thing I’ve wondered since getting into BTC is what happens when all BTC are mined, people hodl, and people die? Is there any contingency in place or being planned to recover stale or dead bitcoins in wallets that are OBVIOUSLY non active addresses? Or will everything that is owned by dead investors or give up investors be doomed to simply be a burn loss?...
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roffie
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May 29, 2018, 12:51:57 AM
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Wow.... Maybe if what you say happen.. Bitcoin will be die because cannot be mine again. And it will be bad dream for investor.

For better alternative we can invest to altcoin are support blockchain 2.0 dst.
Hippos4ever
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May 29, 2018, 01:04:20 AM
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Wow.... Maybe if what you say happen.. Bitcoin will be die because cannot be mine again. And it will be bad dream for investor.

For better alternative we can invest to altcoin are support blockchain 2.0 dst.

I personally would like to believe the BTC community can resolve these potential problems internally... not saying that other alt coins don’t have purpose or place but I honestly believe most of them are frauds and distractions from the ultimate goal that is a crypto CURRENCY.
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May 29, 2018, 01:11:30 AM
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 #4

So I obviously hope I never have to deal with the first of these two issues I have but what if Gaven Andresen dies off and doesn’t pass on the alert/control features that Satoshi bestowed to him, would community have to legit hard fork to even stay in the realm of ‘new development’ not sure how that works as I’m not a dev at all, hence my question. Not sure how the BIP’s are actually approved or implemented and ATM believing is all basically comes down to getting Gavin’s ultimate approvi. Which like I said I worry may at some point ultimately be a issue.

Another thing I’ve wondered since getting into BTC is what happens when all BTC are mined, people hodl, and people die? Is there any contingency in place or being planned to recover stale or dead bitcoins in wallets that are OBVIOUSLY non active addresses? Or will everything that is owned by dead investors or give up investors be doomed to simply be a burn loss?...

Bitcoin is open source, so even if all the current devs with Bitcoin Core got hit by a truck it wouldn't matter. There are other teams working with the consensus protocol and new devs could just pick up and continue the work. Besides, I don't think Gavin has even had commit access for years, so I don't think your worry about his access is even remotely accurate.

Lost bitcoins are lost. There is no plan to steal/"recover" "lost" bitcoins as such would be fiercely opposed by anyone who thinks it though. It just makes the remaining bitcoins more scarce and valuable, and how do you know which bitcoins are truly lost/unrecoverable, and which are simply being held by a very patient and quiet hodler? (Hint: you can't.) Everyone should consider their inevitable demise and plan accordingly for how they want their cryptocurrency dispositioned when they die, if they don't want it lost or randomly snagged by the first tech-savvy person with access to their belongings once they die.

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Gladz29
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May 29, 2018, 01:13:55 AM
 #5

Wow.... Maybe if what you say happen.. Bitcoin will be die because cannot be mine again. And it will be bad dream for investor.

For better alternative we can invest to altcoin are support blockchain 2.0 dst.
Bitcoin on last year is so high value, everyone amazed about the price. So its so much people are using bitcoin because they hope its the answer to all the financial problem. But in this year why bitcoin is so low, everybody still hoping it will be okay just like last year so that everybody can enjoy their bitcoin.
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May 29, 2018, 01:17:15 AM
 #6

Do you have some sort of time dilation problem? Gavin Andresen has been Bitcoin toast for several years, and the writing was probably on the wall after the CIA replaced him with an android all those years ago.

And what is an OBVIOUSLY inactive wallet? There's no such thing. We have no idea what plans people have for their coins. I doubt they'd be best pleased if they were stolen from them. What you do with your own property should be your business and no one else's. If there was ever a hint of forks to reclaim 'lost' coins I'd be out of here.


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May 29, 2018, 01:21:17 AM
 #7

Wow.... Maybe if what you say happen.. Bitcoin will be die because cannot be mine again. And it will be bad dream for investor.

For better alternative we can invest to altcoin are support blockchain 2.0 dst.

I personally would like to believe the BTC community can resolve these potential problems internally... not saying that other alt coins don’t have purpose or place but I honestly believe most of them are frauds and distractions from the ultimate goal that is a crypto CURRENCY.

It's a possibility, this is one of the things that will contribute to bitcoin's downfall, but we have a lot of emerging coins in the market, but I don't know how can this things be resolve except for a fork or another bitcoin fork to replace bitcoin.
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May 29, 2018, 01:23:18 AM
 #8

Wow.... Maybe if what you say happen.. Bitcoin will be die because cannot be mine again. And it will be bad dream for investor.

For better alternative we can invest to altcoin are support blockchain 2.0 dst.

I personally would like to believe the BTC community can resolve these potential problems internally... not saying that other alt coins don’t have purpose or place but I honestly believe most of them are frauds and distractions from the ultimate goal that is a crypto CURRENCY.

It's a possibility, this is one of the things that will contribute to bitcoin's downfall, but we have a lot of emerging coins in the market, but I don't know how can this things be resolve except for a fork or another bitcoin fork to replace bitcoin.
  For me bitcoin its a trade,crypto currency.
Hippos4ever
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May 29, 2018, 01:30:22 AM
 #9

Do you have some sort of time dilation problem? Gavin Andresen has been Bitcoin toast for several years, and the writing was probably on the wall after the CIA replaced him with an android all those years ago.

And what is an OBVIOUSLY inactive wallet? There's no such thing. We have no idea what plans people have for their coins. I doubt they'd be best pleased if they were stolen from them. What you do with your own property should be your business and no one else's. If there was ever a hint of forks to reclaim 'lost' coins I'd be out of here.



In answer to your question of a(n) obviously inactive BTC wallet is impossible for some to maybe fathom at this point but let’s assume this. BTC makes it past the point of a new block transaction and starts relying solely on miner fees which I believe if I’m not wrong is set to happen sometime around 21(something)AD, we could most likely assume that anyone holding a BTC Wallet at that time (if showing no activity for say 50-60 years) is probably lost, and there therefore (IMO be reclaimed) after a alert to the wallet hodler.

I am aware that is a long off worry and one that might not ever happen but I just thought I’d put it out there.

You can not assume a finite currency will survive more than several centuries, if for not other reason it will get lost. Especially with one so finite and complex as BTC.

Also; thanks for the Gavin info, above people. I was just wondering if he still had the final say as I saw he did commit to the latest core update...
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May 29, 2018, 02:04:50 AM
 #10



In answer to your question of a(n) obviously inactive BTC wallet is impossible for some to maybe fathom at this point but let’s assume this. BTC makes it past the point of a new block transaction and starts relying solely on miner fees which I believe if I’m not wrong is set to happen sometime around 21(something)AD, we could most likely assume that anyone holding a BTC Wallet at that time (if showing no activity for say 50-60 years) is probably lost, and there therefore (IMO be reclaimed) after a alert to the wallet hodler.

I am aware that is a long off worry and one that might not ever happen but I just thought I’d put it out there.

You can not assume a finite currency will survive more than several centuries, if for not other reason it will get lost. Especially with one so finite and complex as BTC

Coins should remain in wallets for 50,000 years and maybe that's what their owners are aiming for.

Forking to grab them sets a 100% unacceptable precedent and it would shit on everything bitcoin had built over the years. You could never depend on its immutability again and that's its prime purpose.

Meysa_richa
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May 29, 2018, 02:24:37 AM
 #11

Indeed many people are asking and worried about bitcoin is exhausted for the mine, but you will spend a lot of time to be expensive and this is what everyone expected.

kolitski
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May 29, 2018, 02:30:26 AM
 #12

Last year bitcoin price was so terrific and high in value and many people here are getting profit while this year was opposite the price of bitcoin is going down, i hope it will be back the high price of bitcoin in last year.

d0flaming0
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May 29, 2018, 02:32:31 AM
 #13

i've been reading quiet a lot of this kind of problem since then, a lot of people specially here would say to keep your savings or investment and secure the private keys so in the time where you need to pass your investment there would be no hassle at all. the problem is that according to what you have said what if it is totally lost or something? And i don't really believe that all of those holders will eventually die, but one thing is for sure, the value of bitcoin will be insanely high.
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May 29, 2018, 02:45:05 AM
 #14


its an opensource project like the rest which their codes are publicly accessible by anyone on the internet. if anyone can forked it, anyone can edit and continue the work, Gaven is just one and after maybe 15 years, he'll soon be dead and someone else will replace him. BTC can still be mined even if all the BTC are already mined and we all send BTC with transaction fees which they'd get.

 
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May 29, 2018, 02:48:23 AM
 #15

we could most likely assume that anyone holding a BTC Wallet at that time (if showing no activity for say 50-60 years) is probably lost, and there therefore (IMO be reclaimed) after a alert to the wallet hodler.

maybe i am going to have a newborn child tomorrow and i want to put aside 1BTC in a  cold storage for his retirement when he is 60. who gives you the authority to judge these coins as lost?

Quote
You can not assume a finite currency will survive more than several centuries, if for not other reason it will get lost. Especially with one so finite and complex as BTC.

why not? you don't have to worry about some possible problem in a future that isn't even in your lifetime.

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May 29, 2018, 02:50:06 AM
 #16

those who invest in large quantities must have reserves, or be inherited to the nearest person. because they also do not want what they have lost just like that

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May 29, 2018, 03:28:44 AM
 #17

Both are non-problems.

1. Alert keys are not being used, Bitcoin is open-source and everyone working on it can be replaced (as long as talented devs are willing to work on it). And they will be replaced because there is a financial incentive on behalf of all bitcoin holders.

2. Lost bitcoins don't matter. Even if only 1 bitcoin remains it can be infinitely subdivided using software.
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May 29, 2018, 03:31:24 AM
 #18

Wow.... Maybe if what you say happen.. Bitcoin will be die because cannot be mine again. And it will be bad dream for investor.

For better alternative we can invest to altcoin are support blockchain 2.0 dst.






For me, the thing that is on my mind about bitcoin lately is holding because the price of bitcoin lately is low and there is nothing I can do but to hold my bitcoin or else I earn a small profit. But I am sure that when I hold my bitcoin, it will give me a lot of profit soon because I believe that bitcoin will rise again.
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May 29, 2018, 03:33:35 AM
 #19

So if the person holding the bitcoin dies, it will disappear.
So that reduces the amount of bitcoin circulating.

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May 29, 2018, 05:55:59 AM
 #20

the market this blood because the bitcoin is going down there are all going up you have to take advantage, the time to buy has come
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