Originally posted by Jarman
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Originally posted by pr1 View Post
That was what I tried to cover in my question - I also think they will never all be mined because it will inevitably get to the point that it isn't worth anyone's time or money (electricity/hardware) mining for so long for such small reward - but as soon as the mining stops/slows significantly, so does the "blood flow" of the currency, as I understand it. Then everyone will be sat with bitcoin on their hard drives but no way of transferring them or doing anything with them
Silly question, but what limits the number of coins to 21m? Is it the length of the blockchain and hence unique combinations?I am what I drink, and I'm a bitter manComment
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"Digital currencies pose threat to economy, warns Bank of England
Research shows high-street banks could face a flood of withdrawals leading to financial instability
The rise of digital currencies could lead to a flood of withdrawals from high-street banks, risking financial stability and the wider economy, the Bank of England has warned.
Threadneedle Street said that stablecoins – a new form of digital asset usually pegged to the value of a traditional currency – would need to be regulated in the same way as payments handled by banks if they became widely available."
https://www.theguardian.com/business...ank-of-england
Well FOOKING ban them already - you are in a fooking driving seat and you whine about something YOUR FOOKING JOB TO FIX!Comment
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“The misuse of cryptocurrency is a massive enabler here," Deputy National Security Advisor Anne Neuberger told CNN. "That's the way folks get the money out of it. On the rise of anonymity and enhancing cryptocurrencies, the rise of mixer services that essentially launder funds."
"Individual companies feel under pressure - particularly if they haven't done the cybersecurity work -- to pay off the ransom and move on," Neuberger added. "But in the long-term, that's what drives the ongoing ransom [attacks]. The more folks get paid the more it drives bigger and bigger ransoms and more and more potential disruption."
https://edition.cnn.com/2021/06/07/p...red/index.html
Fooking do something the - start “cancelling” uncooperative players in that fieldComment
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Originally posted by pr1 View PostI have a genuine question which has probably be answered before in this thread but I'm not prepared to read through 800+ pages..
As I understand it the BTC ledger exists/is updated through the computing power of rigs that are rewarded with coins (mining), but, once all of the 21M possible bitcoins have been mined (or we cross the point that it costs disproportionately more electricity/time to mine them than the reward for mining them) what will then keep track of bitcoin ledger? Won't the whole system grind to a halt once the "miners" stop "mining"?"Is someone you don't like allowed to say something you don't like? If that is the case then we have free speech."- Elon MuskComment
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Originally posted by pr1 View Post
That was what I tried to cover in my question - I also think they will never all be mined because it will inevitably get to the point that it isn't worth anyone's time or money (electricity/hardware) mining for so long for such small reward - but as soon as the mining stops/slows significantly, so does the "blood flow" of the currency, as I understand it. Then everyone will be sat with bitcoin on their hard drives but no way of transferring them or doing anything with them
This is the forum for highly paid IT 'cream of the crop' isn't it?"Is someone you don't like allowed to say something you don't like? If that is the case then we have free speech."- Elon MuskComment
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Originally posted by Jog On View Post
Really?
This is the forum for highly paid IT 'cream of the crop' isn't it?Comment
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Originally posted by Jog On View Post
Really?
This is the forum for highly paid IT 'cream of the crop' isn't it?Comment
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Originally posted by Jog On View Post
Really?
This is the forum for highly paid IT 'cream of the crop' isn't it?'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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