..

[teukon]

As such, it is already guaranteed that LESS than the originally intended number of bitcoins will be mined, and there is a possibility that LESS than the intended remaining amount of bitcoins yet to be mined will be.

Example: The coinbase transaction of block 124724 claims 49.999 999 99 BTC where the subsidy was 50 BTC and the total of all included fees was 0.01 BTC.

Of course, there's always the possibility that this block will be orphaned in an epic 3-year reorg, but that doesn't seem too likely.

[1714269614]

1714269614

[1714269614]

1714269614

[1714269614]

1714269614

[1714269614]

1714269614

[R2D221]

Of course, there's always the possibility that this block will be orphaned in an epic 3-year reorg, but that doesn't seem too likely.

If such a reorg happens, then I won't bother with Bitcoin ever again.

[QuestionAuthority]

Of course, there's always the possibility that this block will be orphaned in an epic 3-year reorg, but that doesn't seem too likely.

If such a reorg happens, then I won't bother with Bitcoin ever again.

You shouldn't assume that Bitcoin will stay in the same form for its entire life. That almost never happens with anything. What version of OS are you using? Is it the same as the first one you ever used? Probably not, right? Changes to the code happen all the time and major changes can happen at any time. I just hope all future changes end up for the better and none of them end up splitting the users into two camps.

[lightfoot]

Really? Where did I blow it? (I forgot with rewards, didn't I, LF uses relative addressing in his talking)

The last block with rewards could be solved by a single miner running on a 386sx/16 chip if there was only one miner left in the network but it would still only take that miner 10 minutes on average since the difficulty would have sunk as other miners left the network.

C

[An amorous cow-herder]

Is it even possible?

Sure. And Bitcoin number 42.000.000 can be mined as well.
All it takes are a couple of lines of code changes.
You know like, "hey, deflationary is stupid, screw that".

[DannyHamilton]

Is it even possible?

- snip -
All it takes are a couple of lines of code changes.
- snip -

And 100% consensus from everyone running a full node on the network, which is probably a lot more difficult to get than it sounds.

[DannyHamilton]

Really? Where did I blow it?

Sorry.  Didn't mean to include you in the list.  I've edited the list and removed your name.

[BTCfan668]

Of course, there's always the possibility that this block will be orphaned in an epic 3-year reorg, but that doesn't seem too likely.

If such a reorg happens, then I won't bother with Bitcoin ever again.

You shouldn't assume that Bitcoin will stay in the same form for its entire life. That almost never happens with anything. What version of OS are you using? Is it the same as the first one you ever used? Probably not, right? Changes to the code happen all the time and major changes can happen at any time. I just hope all future changes end up for the better and none of them end up splitting the users into two camps.

It has been said that any fork to bitcoin that involves having a different number of maximum of coins to be mined would not be bitcoin but rather would be an altcoin

[QuestionAuthority]

Of course, there's always the possibility that this block will be orphaned in an epic 3-year reorg, but that doesn't seem too likely.

If such a reorg happens, then I won't bother with Bitcoin ever again.

You shouldn't assume that Bitcoin will stay in the same form for its entire life. That almost never happens with anything. What version of OS are you using? Is it the same as the first one you ever used? Probably not, right? Changes to the code happen all the time and major changes can happen at any time. I just hope all future changes end up for the better and none of them end up splitting the users into two camps.

It has been said that any fork to bitcoin that involves having a different number of maximum of coins to be mined would not be bitcoin but rather would be an altcoin

Restating what you said to ensure I understand you correctly, If everyone using Bitcoin agreed to make the horrible code change necessary to increase the maximum number of Bitcoins above the current 21m then Bitcoin would become an altcoin. I guess that depends on the definition of altcoin. I suppose you could think of it as an alternate of itself. For that matter, any major change, like PoW to PoS, would make it an alternate of itself. Those things would also make two very divided camps of users, some supporting the change and the intelligent ones. Increasing the quantity of Bitcoins erases one of the basic principals Bitcoin was founded on called "scarcity". Scarcity just means "in short supply" and is a value point for Bitcoin.

[R2D221]

Of course, there's always the possibility that this block will be orphaned in an epic 3-year reorg, but that doesn't seem too likely.

If such a reorg happens, then I won't bother with Bitcoin ever again.

You shouldn't assume that Bitcoin will stay in the same form for its entire life. That almost never happens with anything. What version of OS are you using? Is it the same as the first one you ever used? Probably not, right? Changes to the code happen all the time and major changes can happen at any time. I just hope all future changes end up for the better and none of them end up splitting the users into two camps.

A 3-year reorg would mean I effectively lose all my coins (since I bought them 2 years ago). Also, I do undersand that the protocol changes (and I know about the hard forks that have already happened), but losing my coins because of changes in the protocol goes against everything Bitcoin promises.

[BTCfan668]

Of course, there's always the possibility that this block will be orphaned in an epic 3-year reorg, but that doesn't seem too likely.

If such a reorg happens, then I won't bother with Bitcoin ever again.

You shouldn't assume that Bitcoin will stay in the same form for its entire life. That almost never happens with anything. What version of OS are you using? Is it the same as the first one you ever used? Probably not, right? Changes to the code happen all the time and major changes can happen at any time. I just hope all future changes end up for the better and none of them end up splitting the users into two camps.

It has been said that any fork to bitcoin that involves having a different number of maximum of coins to be mined would not be bitcoin but rather would be an altcoin

Restating what you said to ensure I understand you correctly, If everyone using Bitcoin agreed to make the horrible code change necessary to increase the maximum number of Bitcoins above the current 21m then Bitcoin would become an altcoin. I guess that depends on the definition of altcoin. I suppose you could think of it as an alternate of itself. For that matter, any major change, like PoW to PoS, would make it an alternate of itself. Those things would also make two very divided camps of users, some supporting the change and the intelligent ones. Increasing the quantity of Bitcoins erases one of the basic principals Bitcoin was founded on called "scarcity". Scarcity just means "in short supply" and is a value point for Bitcoin.

Many people think that bitcoin must retain several "features" in order to continue to be considered "bitcon" both the 21 million limit and PoW are among them. If the consensus was that some amount more then 21 million coins could be mined then the new altcoin could still be "name" bitcoin and could potentially be the largest crypto currency however would no longer be what satashi had created. This is regardless of how "good" of an idea either of these changes are.

[QuestionAuthority]

A 3-year reorg would mean I effectively lose all my coins (since I bought them 2 years ago). Also, I do undersand that the protocol changes (and I know about the hard forks that have already happened), but losing my coins because of changes in the protocol goes against everything Bitcoin promises.

You know that possibility is not very likely.

Many people think that bitcoin must retain several "features" in order to continue to be considered "bitcon" both the 21 million limit and PoW are among them. If the consensus was that some amount more then 21 million coins could be mined then the new altcoin could still be "name" bitcoin and could potentially be the largest crypto currency however would no longer be what satashi had created. This is regardless of how "good" of an idea either of these changes are.

Yep, Bitcoin is whatever the people agree it is. Bitcoin, for good or bad, is already not exactly what Satoshi created because other people have already changed and updated the code. So far the changes have been relatively minor and for the better. Hopefully that pattern will continue.

[R2D221]

A 3-year reorg would mean I effectively lose all my coins (since I bought them 2 years ago). Also, I do undersand that the protocol changes (and I know about the hard forks that have already happened), but losing my coins because of changes in the protocol goes against everything Bitcoin promises.

You know that possibility is not very likely.

Exactly, that was my point. It was kind of sarcastic. I have full confidence that it's astronomically improbable.

[QuestionAuthority]

A 3-year reorg would mean I effectively lose all my coins (since I bought them 2 years ago). Also, I do undersand that the protocol changes (and I know about the hard forks that have already happened), but losing my coins because of changes in the protocol goes against everything Bitcoin promises.

You know that possibility is not very likely.

Exactly, that was my point. It was kind of sarcastic. I have full confidence that it's astronomically improbable.

See, that's what I hate about written conversation, sarcasm is hard to present effectively. I'm glad you know that though. I thought you might be nuts but I was trying to be nice. lol

[Q7]

Technically i mean it should be yes. Even though block reward is low and difficulty is too high, people would still be mining for the fees. It might probably took a very long long time for that one final sat to appear.