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Author Topic: The BITCOIN APOCALYPSe!!  (Read 965 times)
VolanicEruptor (OP)
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April 17, 2014, 02:54:23 AM
 #1

http://guardianlv.com/2014/04/bitcoin-mining-road-to-riches-for-some-road-to-ruin-for-others/

“Once the last coin has been issued, the Bitcoin mining process will shut down forever because there will be no more fresh Bitcoins to pay the miners with”

this guy is really really smart

franky1
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April 17, 2014, 03:04:10 AM
 #2

http://guardianlv.com/2014/04/bitcoin-mining-road-to-riches-for-some-road-to-ruin-for-others/

“Once the last coin has been issued, the Bitcoin mining process will shut down forever because there will be no more fresh Bitcoins to pay the miners with”

this guy is really really smart

i always love a good Apocalypse story where the readers will infact be dead when it happens... but in bitcoins case it would be from old age and not the event itself

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blackhathasher
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April 17, 2014, 03:09:35 AM
 #3

pretty sure by 2140 this won't be an issue...


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Joshuar
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April 17, 2014, 03:11:27 AM
 #4

pretty sure by 2140 this won't be an issue...



Yea, it really shouldn't matter when the last bitcoin will be mined etc. That's not gonna happen for another hundred years and more years..99999x things can happen in that time.

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hodlmybtc
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April 17, 2014, 03:20:53 AM
 #5

Hehe funny stuff  Cheesy

Also this:

Quote
According to this theory, it should take 136 years to fully deploy the 20,999,999 coins the system is designed to produce under the current rules..if you believe the people at the Bitcoin Foundation, which controls the mining process.
Sonny
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April 17, 2014, 03:45:26 AM
 #6

Hehe funny stuff  Cheesy

Also this:

Quote
According to this theory, it should take 136 years to fully deploy the 20,999,999 coins the system is designed to produce under the current rules..if you believe the people at the Bitcoin Foundation, which controls the mining process.

Oh my...It seems the writer don't know how bitcoin mining works at all...
freedomno1
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April 17, 2014, 03:54:15 AM
 #7

Cough Transaction Fees Cough Cough
Anyways that's not how mining works
Although we won't live to see that unless we develop super life enhancing robotics

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April 17, 2014, 04:01:21 AM
 #8

pretty sure by 2140 this won't be an issue...



Yea, it really shouldn't matter when the last bitcoin will be mined etc. That's not gonna happen for another hundred years and more years..99999x things can happen in that time.

The bitcoin blockchain should reach petabyte size if it gets really popular.  Smiley

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April 17, 2014, 04:02:50 AM
 #9

pretty sure by 2140 this won't be an issue...



Yea, it really shouldn't matter when the last bitcoin will be mined etc. That's not gonna happen for another hundred years and more years..99999x things can happen in that time.

The bitcoin blockchain should reach petabyte size if it gets really popular.  Smiley

Lightweight transactions and blockchain compression hopefully means that downloading the blockchain won't take a YEAR  Grin
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Beliathon
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April 17, 2014, 04:40:41 AM
 #10

Although we won't live to see that unless we develop super life enhancing robotics
You should take a look at all the robotics companies Google is buying up. Interesting stuff coming in the near future.

Remember Aaron Swartz, a 26 year old computer scientist who died defending the free flow of information.
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April 17, 2014, 05:00:06 AM
 #11

Hehe funny stuff  Cheesy

Also this:

Quote
According to this theory, it should take 136 years to fully deploy the 20,999,999 coins the system is designed to produce under the current rules..if you believe the people at the Bitcoin Foundation, which controls the mining process.

I've been trying so hard to convince everyone the Bitcoin Foundation really does control the mining process.
Finally I am proven correct.   Cheesy

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April 17, 2014, 08:23:10 AM
 #12

pretty sure by 2140 this won't be an issue...



Yea, it really shouldn't matter when the last bitcoin will be mined etc. That's not gonna happen for another hundred years and more years..99999x things can happen in that time.

Yes, 9999x thins can happen in that time and if cryptocurrenciy will succeed, more improved crytpocurrency might be created in that time..
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