Bitcoin = Proof of Scam ?

[seoincorporation]

The halving of bitcoin is indeed a dirty little trick hiding in the source code.

The bitcoin white paper misleads:

"The steady addition of a constant of amount of new coins..."

Point being:

White paper does not mention halving !

If it wasn't mentioned it is because it wasn't important at all, halving is optional in the code, it depends if you want to make from the coin a finite or an infinite element, we have seen examples of coins who doesn't have halving and they work fine. A good example of this is Dogecoin.

Halving was necessary to limit the maximum supply, and it was a smart solution. If it wasn't mentioned in the whitepaper maybe it wasn't important to mention it for Satoshi.

[Skybuck]

What is really worrieing me at the moment is the term "halving".

When I asked some people what it ment they thought it ment the price was going to be "halved".

The lack of proper documentation about it probably makes it much worse then needs to be.

Imagine if the chinese or russian were speaking of a "halving"...

News media report, "halving" is a google trend at the moment in the Netherlands.

Clearly people are trying to find information about it and trying to understand it, for many it's probably an unbelievable concept !

I could not believe it myself at first, I had to see source code to really believe it ! *

Somebody has finally explained the code, 5 days ago:

https://www.youtube.com/watch?v=-wB6Si4jZYc

[GxSTxV]

What is really worrieing me at the moment is the term "halving".

Initially I wanted to respond to your question in a very normal way, despite finding your topic title quite disturbing. But It seems that you are only looking to ignite some senseless discussions around Bitcoin and get attention. While it’s valuable for anyone to explore and ask about the intricacies of blockchain technology, it’s also important to base our discussions in verified information and rational arguments, as sometimes you are answering with much knowledge about the blockchain then again asking some dumb questions.
Having read your previous topics telling me that you like circus shows. If Satoshi were indeed your computer science teacher, perhaps you could ask him directly about the halving and why it wasn't mentioned in the white paper.

[o48o]

It is about fairness to the people of earth. (Especially all those on the internet)

1. Not everybody is a programmer.
2. New programmers find C incredibly hard to understand.
3. Critical financial information was left out like:
3.1 Bitcoin halving (nasty supply shock after 4 years, repeats each 4 years, leaves late comers fighting for bread crombs)
3.2 Maximum supply (no more new/cheap supply for future generations, unfair/time discrimination)
3.3 Difficulty adjustment (while mentioned, too vague, drives up cost for future generations/unfair)
4. Early adopters received more coins then late adopters (unfair)


How would you feel about new crypto projects if these "details" were left out ?

Why does it have to be "fair" in your standards? Now it sounds like you are just jealous of early birds here. Most people who were aware of bitcoin never bought it in first years if ever. Was it unfair against them too as they "didn't get the idea"

And are you implying that distribution is unfair because not everyone can read the code? How would you fix this so that your inclusion would cover everyone? There are people without access to internet or computers, so how would those get their share? How would they even know if they wanted that? There are people who haven't born yet. so how do we include them to this fairness plan? There are people who aren't aware how this benefits to them so they will sell at the start, so how we make them understand that they shouldn't do that. This is unfair against illiterate and ignorant people as well, as it is unfair against Amish people.

You can find information about 15 years of development of Bitcoin all over the internet. But assuming some people would be investing to btc purely, because they read only the original whitepaper is just weird. If they only read that, how they would even know what fork would they need to buy?

[uneng]

What is really worrieing me at the moment is the term "halving".

When I asked some people what it ment they thought it ment the price was going to be "halved".

It just takes a minute to search for the 'halving' term on Google and find its meaning. It's normal some people may think the term refers to the price of Bitcoin being halved, if they are naive or uneducated on economical, financial and crypto matters, but it's not something hard to understand and interpret once you access the real meaning on different websites disponible on the internet talking about this topic.

It's not something to worry about, because it's just too simple to get it... You can even explain what halving means to people who you were talking about, and they should have no difficult finally assimilating the real meaning of the term. And once they do understand, they will help explaining it to other people who also might have gotten it wrongly. I think this whole discussion is a big storm in a teacup after all...

[btc78]

White paper does not mention halving !

Bitcoin’s White paper was made almost two decades ago.

It only talks about the fundamentals of bitcoin but does not specifically get into every detail about the network nor the mechanisms used. Meanwhile, Halving was introduced way later on to control the supply of bitcoin maintaining itself as an attractive asset due to its scarcity.

Due to many people taking interest in bitcoin, I am sure there would be many more systems and innovations that would be soon implemented that we can not add to the white paper anymore.

[Belarge]

Bitcoin’s White paper was made almost two decades ago.

It only talks about the fundamentals of bitcoin but does not specifically get into every detail about the network nor the mechanisms used. Meanwhile, Halving was introduced way later on to control the supply of bitcoin maintaining itself as an attractive asset due to its scarcity.

Due to many people taking interest in bitcoin, I am sure there would be many more systems and innovations that would be soon implemented that we can not add to the white paper anymore.

The burning and supply control of bitcoin have been maintain and have been the leading project in the market. Implement on solid strategies and also do well to enable ourselves become confident in the system more especially when dealing with bitcoin. I know it's not easy but we should always grab good possibilities of earnings and also trapped our stands in the space. Bitcoin halving have always dominated and takes charge when it comes to the bullish season, though it do occur occasionally, probably after 4 lengthy years.

[Skybuck]

Satoshi Nakamoto Bread Making Machines:

Produce 1 million breads per 4 years.

Hidden feature:

Produces half the amounts of breads after each 4 years ! =DDDDDDDDDDDD

Now you need double the amount of machines after each 4 years to make your existing customers happy. Where have I heard this before ?! Oh yeah the king, the chess board and the math guy.

Anyway....

Problem with this is potentially that people don't like unfairness and possibly unfair systems in general, thus long term bitcoin is probably doomed, people will switch to more fair systems.

The funny thing is:

The banks are unfair, invest money into scammers (loose the money and get saved by Craight Wreights tax paying dollars:))

Craight Wreight might be the inventor of bitcoin and decided to counter-scam the banks, with his own scammy bitcoin... which is a little bit less scammy than the banks.

Thus giving a choice between:

Very Scammy Bank/Fiat systems
versus
Less Scammy bitcoin system.

People choose the less scammy system.

Here is a better system:

vite

Go get it ! =D * =D

Oh yeah one last thing to the people thay say the whitepaper is only an introduction !

Give me and us all an f-ing break, is it really that hard to include 1 line of text to include the explanation of the halving, which is pretty damn crucial for mining equipment...

It may have been left out intentionally, and I believe it was... because look at the effect of it...

So now you continue to defend the potential scammer of Satoshi Nakamoto.

One more thing though about the COPA case and the denial of Satoshi Nakamoto on twitter: "I am not Craight Wreight".

Who runs COPA lawsuit ?! The same guy who ran Twitter ?! Is it possible that this say guy wrote that same tweet ?! Absolutely.

The funny part is Craight Wreight is as scammy as this bitcoin system, it fits the bill ! LOL =D

White paper does not mention halving !

The claim that the Bitcoin white paper misleads by not mentioning halving is not true. The halving process is indeed a fundamental part of Bitcoin’s design. The white paper specifies that after every 210,000 blocks, the reward for miners will halve. This means that while the white paper talks about the addition of new coins, it also implies a decreasing rate of supply over time due to halving events. These events are designed to control inflation and mimic the extraction of precious resources, becoming less frequent over time until the cap of 21 million bitcoins is reached. The halving is not a “dirty little trick” but a transparent and predictable feature of the Bitcoin protocol that is public and verifiable by anyone who examines the source code or understands the protocol’s rules.

This shitty paper without algorithms, without (pascal) pseudo code is only 9 pages long ?!

https://bitcoin.org/bitcoin.pdf

Where did your delusional reading start on what page ? You claim it's there, I don't think so, a simple in-document search turned up nothing, I am not going to bother reading this scammy document again, it's up to you to at least give me a page number so I can cut my reading into 1/9.

Others have already stated, they also saw nothing mentioned about halving...

What is really worrieing me at the moment is the term "halving".

Initially I wanted to respond to your question in a very normal way, despite finding your topic title quite disturbing. But It seems that you are only looking to ignite some senseless discussions around Bitcoin and get attention. While it’s valuable for anyone to explore and ask about the intricacies of blockchain technology, it’s also important to base our discussions in verified information and rational arguments, as sometimes you are answering with much knowledge about the blockchain then again asking some dumb questions.
Having read your previous topics telling me that you like circus shows. If Satoshi were indeed your computer science teacher, perhaps you could ask him directly about the halving and why it wasn't mentioned in the white paper.

Perhaps this planet is one big circus show ! =D (matter of perspective) In that case, Welcome to planet Circus ! =D

(I happen to be listening to this music, which fits perfectly with this "conclusion/observation"):

https://modarchive.org/index.php?request=view_player&query=205885

(Click "play" to listen to it)

Yesterday something else happened, as I was listening to another piece of music, it mentioned "9" and the windows screen saver accidently rendered a 9 with it's lines, so coincidence ? does ? exist ? Or was it ment to be ?

[Kakmakr]

The whole idea was to emulate the scarcity of Gold, so there were no hidden agendas to implement the Halving of the Block reward. The Bitcoin protocol is also Open source and the code is availlable for Peer review by other software developers.

So, nothing was hidden... it is all there to see and to disect by the public. The White paper just make it simple for the less technical people to understand the concept behind it.

[NotATether]

Yes it is a steady addition of new coins with a division factor to prevent an infinite supply. What exactly is your problem? We're not mining Dogecoin here.

[retreat]

Just because it's not mentioned in the whitepaper doesn't mean that Bitcoin is a scam - the halving is simply the result of the development that the dev core did on Bitcoin. Because everything doesn't have to be based on the white paper and must be developed according to what is mentioned there. There is something called an update to make the Bitcoin ecosystem relevant and able to answer various existing or future issues. It's the same as your house, is it always based on the blueprint made by the architect? You can add rooms outside of the blueprint, that's the logic.

[Skybuck]

Yes it is a steady addition of new coins with a division factor to prevent an infinite supply. What exactly is your problem? We're not mining Dogecoin here.

This is "inversed exponential"

Legend has it a math guy tricked a king once with grain.

Now it seems Satoshi found a way to trick the world once again, though in a reversed way, but ultimately same way.

Perhaps 1000 or 2000 or 3000 years from now a tripple math trick will be invented instead of this double trick (half the coins,double the machines/electricity)

I think whitepaper is just a summary, so it's not very detail. While the source code is everything that make Bitcoin run, probably there's other thing that didn't mentioned in whitepaper besides halving.

POS = Proof of Scam, stay away from POS coins/tokens.

It is best to have the bitcoin github[1] as reference since all the updates and upgrades are mentioned on that repository.

To be more accurate, on lines 1752-1763.

Code: (https://github.com/bitcoin/bitcoin/blob/master/src/validation.cpp#L1752)

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;

Was it in there from the start or later added ?

To answer my own question:

Using deepgit 4.3 on Windows 7 german laptop with 2GB RAM, pagefile.sys/vmram 2 GB:

Code:

int64 CBlock::GetBlockValue(int64 nFees) const
{
    int64 nSubsidy = 50 * COIN;

    // Subsidy is cut in half every 4 years
    nSubsidy >>= (nBestHeight / 210000);

    return nSubsidy + nFees;
}

Blame for
File	main.cpp
Commit	e071a3f6 by sirius-m at 2009-08-30 05:46 on v0.1.5, v0.3.20, v0.3.20.01_closest, v0.3.20.2_closest
Msg	First commit

Who or what is sirius-m, in short SM.

Is it really Satoshi Moto ?

There were some shenigans along the way/changes/"going deeper"

One attempt to change 210000 block halving to 150 block halving, not sure why, maybe for halving testing purposes, or preventing miners from getting too many too early.

[avp2306]

What is really worrieing me at the moment is the term "halving".

When I asked some people what it ment they thought it ment the price was going to be "halved".

The lack of proper documentation about it probably makes it much worse then needs to be.

Imagine if the chinese or russian were speaking of a "halving"...

News media report, "halving" is a google trend at the moment in the Netherlands.

Clearly people are trying to find information about it and trying to understand it, for many it's probably an unbelievable concept !

I could not believe it myself at first, I had to see source code to really believe it ! *

Somebody has finally explained the code, 5 days ago:

https://www.youtube.com/watch?v=-wB6Si4jZYc

If you don't understand on somethings which normally happen in bitcoin then you could do a lot of research about halving. Lots of information posted about it and this is not secret at all. So for you not to get bothered then read some helpful article about this topic so you can help yourself to learn.

Here are the sample article that can help you

https://www.ishares.com/us/insights/what-is-the-bitcoin-halving

https://www.investopedia.com/bitcoin-halving-4843769

https://www.coindesk.com/learn/bitcoin-halving-explained/


And a lot more information about this is posted in internet so help yourself to read so that you will not call bitcoin as scam for nonsense reason.

[Rabbitqt]

The halving of bitcoin is indeed a dirty little trick hiding in the source code.

The bitcoin white paper misleads:

"The steady addition of a constant of amount of new coins..."

Point being:

White paper does not mention halving !

Don't let the dip change your opinion.