Is bitcoin really exist?

[kasunrandil]

The Block subsidy(new Bitcoins being created) started with 50 Bitcoin, every block. This amount halves every 210.000 Blocks, until enough halvings have been done, leaving us with 21.000.000 Bitcoin being created. We passed halving 3, which leaves us with 6.25 Bitcoin created every new Block.

You can verify it yourself and run this on your node, so it always gets enforced.

Code:

CAmount GetBlockSubsidy(int nHeight, const Consensus::Params& consensusParams)
{
    int halvings = nHeight / consensusParams.nSubsidyHalvingInterval;
    // Force block reward to zero when right shift is undefined.
    if (halvings >= 64)
        return 0;

    CAmount nSubsidy = 50 * COIN;
    // Subsidy is cut in half every 210,000 blocks which will occur approximately every 4 years.
    nSubsidy >>= halvings;
    return nSubsidy;
}

https://github.com/bitcoin/bitcoin/blob/master/src/validation.cpp#L1238-L1249

i am not asking how bitcoin is mined and halved sir. i have studies those proceces. i am seeking in which form bitcoin exist on the blockchain. i must have any kind of form to be exist.

[kasunrandil]

acctually what is being  transferd amoung people as bitcoin ?? BTC is that something like script or just a model iike utxo?? how can we exactly say 21 million exist out there?
could anyone give me answres to these questions  plz .

Hmm interesting question and yes bitcoin doesn't really exist in real-world is untouchable and many more. but its more like script or data so when you send bitcoin its more like you send the data

that is the point sir. u got it.  i wanted to know in which form is bitcoin exist on blockchain.... may you explain me further??

[kotajikikox]

Of course it doesn't exist. It's just that all this time we have been investing money in a pyramid, which does not bring any profit, and as a result, everyone will also lose their money

But days ago this is what you said that needs to pay attention

Then the price of bitcoin would be measured not by the value of bitcoin, but by the value of what it was tied to. I think this is really worth understanding and paying attention to.

So what is truly your stands here?

Have you lose something from bitcoin?then why not extend your explanation so we can understand your views .

But bitcoin does not exist in physical aspect but this is running in online transacting .

[kasunrandil]

question first to get your mind prepared for the answer:
if you have $100 in your pocket. does it have to be categorically only in the format of a single $100 bank note. or can it be a measure of a allotment of smaller amounts?

if you had a tonne of gold does it have to be a single brick weighing a complete tonne. or a measure of smaller amounts like kg, ounces, grams that total a tonne?

answer:
in code/value in binary of actual data relayed/stored, whether its stored in the UTXO, mempool, blockchain databases or relayed.. wait for it..  there are no hard data "btc" it is all relayed and stored in units called sats..

it is the software GUI(display) code that then converts it to convenient formatted number for easy reading.

what tadamichi left out of the quoted code in his post. is the part where COIN is just an expression of hard data in blockchains, utxo's, mempools converting into COIN by doing a /100,000,000 of the hard data
https://github.com/bitcoin/bitcoin/blob/master/src/consensus/amount.h#L14

Code:

/** The amount of satoshis in one BTC. */
static constexpr CAmount COIN = 100000000;

(i hope tadamichi sees my example of how i, someone that is in full adoption of bitcoin can atleast be open and honest about how bitcoin actually works without having to pander to uptopian stuff, and maybe he takes this as a lesson that trying to slide things under the rug can be misleading for his favoured network)

is this the code of bitcoin or if not what is that code sir??

[kasunrandil]

acctually what is being  transferd amoung people as bitcoin ?? BTC is that something like script or just a model iike utxo??

To spend bitcoin your wallet builds up a template on its own that lists:
The input utxos, the output addresses and how much is sent to each (remainders are paid to miners as a fee) - there's other info too but these are the main bits.

The wallet then signs this transaction using each utxo's address's private keys and makes the transaction valid to be spent/accepted by other nodes.

thank you for your valuable feedback sir. but it didn't solve my problem

[kasunrandil]

Re: Is bitcoin really  exist?

The question of if bitcoin exists or not is naive and unacceptable to me. The right question should be, how long will bitcoin exist? We have already seen that bitcoin is existing. Many has acquired lands and building with bitcoin. Some bought cars with bitcoin. We have converted bitcoin to any currency(fiat) and bitcoin has given employment to many. How much more do you want bitcoin to exist before you understand that it is existing?

Obviously, there is nothing that exists today that would be in existence without value. The value is the core essence.  Bitcoin is valuable just as fiat is valuable. Anyway that a law is passed in your country and the value of your fiat is removed, that is when you will realise that the fiat is nothing but a paper which can be printed as much as you want. Then you will realised that a fixed bitcoin is more valuable than your fiat.

yeah. bitcoin is exist but on the blockchain and those cannot be touched and seen. i am asking in which form does it exist on the blockchain?

[kudosinitchi]

If you are referring to a physical Bitcoins, yeah it exists called Casascius Bitcoins, created by a guy in Utah named Mike Caldwell, which made of brass, with gold electroplating.



A Casascius Coin is a physical version of a Bitcoin. This coin comes in different shapes, designs and forms. The main reason for designing these coins was to make them available for market transactions. However, in 2013, Caldwell had to shut it down. The reason for shutting down was because of the intervention of FINCEN due to lack of required licensing to operate.

Sources:
https://www.cnet.com/culture/are-physical-bitcoins-legal/
https://www.analyticssteps.com/blogs/what-casascius-coin

[asimi.io]

Bitcoin is a growing space of innovation and there are business opportunities that also include risks. There is no guarantee that Bitcoin will continue to grow even though it has developed at a very fast rate so far. Investing time and resources on anything related to Bitcoin requires entrepreneurship.