I wonder how people even sent money without that before, or how did they even prevent printing the money by everyone who have printer… 
its only about RULES.
What happened is reducing the responsibilities of users while at the same time avoiding the money printing ban, and burning a lot of energy with it functioning. There must be better alternative than that.
Bitcoin is like a very limited artificial Intelligence, it will spend the next 100 years adapting it’s difficulty level and creating and distributing coins in a rigid fashion, and exchanges will keep revising the price based on supply and demand. Feel free to inform me but I don’t think there is a better monetary system. I can’t see any other system doing what BTC does.
I for one feel better that BTC is not managed by super rich bankers who only do what is best for themselves.
When I started learning about BTC it was the finite 21,000,000 limit that it has which amazed me, so there will only ever be that amount in existence. straight away i saw the potential for it to hold it’s value. Once everyone on the planet has a full understanding of what it is there will be no stopping it.
How is it intelligent? Its an algorithm. It cant learn anything and reason anything.
Untill you find out about that other crypto people are using on the other side of the road.
No.
Which can technically be changed before then. If it’s not, transaction fees will go “to the moon” (otherwise, why would people mine without new BTC to reward???)
Nothing else to add no?
The transfer fees will be paid to miners as a reward. And no, the 21 millions limit will never be changed.
I don’t think you understand it buddy. It’s up to miners what coin they mine when renting my processing power, but the deal is they pay me in BTC, which happens to be the only crypto coin I ever want. So no, I will not get sucked in by “Hey this other crypto coin will earn you 35% on your savings” my desire is non-greedy and I am not trying to become a billionaire by next week.
I want a simple crypto coin which is BTC. no hype, no Do Kwon in the background, No greedy investor, no unrealistic investors who have no idea what they are investing in.
I only want to work with investors like Bukele and the People of El Salvador, and anyone else who supports the world employing a new financial system which will assist current ones with a logical computer generated crypto currency.
I wasn’t sucked in by TerraUSD and Luna, in fact I totally ignored it until it crashed. So what I quoted you said would never apply to me.
the Fed $ and the ECB € are scams, too…
Probably, but would it be better if governments no longer could say “Maybe our civilians should not suffer too much?” Or does this anger the anarcho-capitalist who defines other humans as slaves?
So clearly you have proven there is no reason to switch to a currency property of some random anonymous guy, who answers to no one.
Thank you for your contribution and lurk more if you aren’t an alt.
All such a change would do is create another fork and then you just hope that your tiny new network with more than 21mil coins becomes more valuable than the original and gets the name Bitcoin. All who tried that for far less controversial changes have failed so far, and the bigger the network gets the more unrealistic such changes become.
That isn’t the problem. The actual problem is, if blocks don’t pay enough to support a hash rate that provides good security. But the more Bitcoin is just used as a settlement layer and actual transaction happen on various L2, the more economically dense the L1 transaction get, which justifies higher fees. You will still be able to transact on an L2 like Lightning for basically free, no matter what the costs of an L1 transaction is.
Yes. Now get this:
Bitcoin is governed by rules who are written in the code that can’t be changed anymore because they are enforced by a decentralized system.
Fiat is governed by rulers, a couple of people who decide on their own what happens to the money. People who are not accountable to the public and are not voted on by any democratic process.
This change is literally similar to when we changed from Kings dictating the fait of the accused to when we started to have written laws.
In a few years we will all look back and think how silly it was that once just a few people had so much unchecked power over money.
It literally doesn’t matter who created it. The code speaks for itself, because it’s open source and everyone can look at it and see exactly what it does.
Crucial info if one is to understand exactly what’s going on.
Both have their flaws. And Bitcoin is going to lose it with the results people obviously choose to ignore in short run, but will become even more visible in long run.
The future doesnt belong to bitcoin, but something better.
And yet you can’t even give us a good reasoning about why you think that. You are just guessing
I can’t see anything better ever being created in all honesty. Anything a person or organization is in control of always seems to have issues as we have seen with Terra and Luna.
A banks goal will always be to make profit through some type of lending, and what we tend to find is they are the ones who create value out of nothing by printing more money and then lending it with high interest rates. The UK is about to print more money and loan it to struggling families over the next couple of months. I believe the loans must be paid back over 4 to 7 years.
For this reason alone BTC will have a strong value because nobody will ever be able to create it out of thin air, they will have to buy it or buy the mining equipment needed in order to earn it, this is non-negotiable and everyone on the planet will have to adhere to this if they want BTC. Nobody, i mean absolutely nobody gets any special treatment or favours. I’m not sure what the world would have done if BTC hadn’t been created.
There are over 27 million households in the uk, this is a dwelling with multiple people in it. I believe approx 11 million households will get a payment of around £600 or more. So the prospective amount of cash being printed should be around £7 Billion, and in 4 to 7 years when the principal and interest has been paid it will be worth more.
I can see what people mean when they say BTC is a good long term storage of value, it seems one will always need more of another currency to purchase 1 BTC.
just compare to eve. If Euros and Dollars are ISK, Bitcoin is PLEX (or if you want to include mining: skill injectors) and Sand equals raw planetary ressources like Base Metals - which of them would you accept as payment for a courier mission?
Dollars.
Very patriotic. You have earned 10 uncle sam points
I’m going to disagree with @Nana_Skalski here, as I would prefer Euro’s.
But I would not dare to compare PLEX with Bitcoin.
PLEX has more value than Bitcoin. But yes, you cannot write off PLEX losses in your company.
As always, this thread is a fun read. I don’t think you guys appreciate just how powerful the guys with all the agencies, guns, and prisons really are. Currency is just another tool for them. You can say that open-source currency will lead us to utopia, but the truth is that the guys in charge can make a lot of impossible things happen, once they decide on a new plan. Right now Bitcoin is no threat to them whatsoever, so they are mostly interested in skimming fees off of weak-money dupes.
I think most of the people with these grand visions of the future of humanity with their cherished Bitcoin would feel a lot different after a few weeks at a government black site. If “they” want a hard fork in Bitcoin, they can easily make it happen. Also, the idea that all the governments of the world are independent and can’t operate as a single beast has been disproved by the enormity of the last two years.
The geopolitical situation, resource and demographics suggest that USA economy will be better off in the future than other countries. What could fail could be only bad people at the steering wheel, something like in the movie Idiocracy. 
Or something like a giant asteroid falling on them…
But bitcoin only brings the Idiocracy closer. Bitcoin like any crypto causes emotional responses in people, especially those liking risk, rather than being a good solution to any problem in long run.
What’s apparent is nobody likes risk at the moment and it will be that way for a good few years. The reason why many crypto coins are failing is because people are withdrawing their money out of anything they see as risky. Bitcoin will come under the risky category despite holding a reasonably steady value since the beginning of this year.
BTC should remain stable at it’s current value for now which will make it the real stablecoin and promote more people using it for long term currency storage.
Factually BTC only responds to what’s happening economically, if lots of people buy it then it becomes scarce and the value goes up if lots of people sell it then it’s widely available and the value goes down. I don’t agree that it is BTC causing the emotional response but I get that people will blame BTC if the value suddenly dips.
BTC is simply a reactive element of our society which is in fact the beauty of it.
Let’s say I am the richest man on the planet and I go to all crypto exchanges and purchase every BTC available for sale. What do you think will happen?
BTC value would immediately jump very high, lots of people in El Salvador would have difficulty getting hold of more BTC so the value would increase and then less BTC would be needed for a transaction.