Cryptocurrency

[milanbenes]

encrypt them and store on Onedrive

so that they can be easily confiscated

nice

nothing like being prepared eh

Milan.

[Lance]

I'd be interested to see how a limit on bitcoin mining is enforced - especially if banks and governments get any kind of control over it. If it's just virtual technology what's to stop them just changing the code to keep mining more with virtual printing presses?

It's enforced at a limit by it's core cryptographic algorithms.
It's kinda the whole point (one of the points). The maximum is approx 21M.
Currently mined are approx 12.5M
Current estimates are that they'll all be mined by 2140.

[Lance]

so that they can be easily confiscated

nice

nothing like being prepared eh

Milan.

yeah. you still don't understand them do you?

[ChimpMaster]

encrypt them and store on Onedrive

Print it out and keep in it your wallet.

[milanbenes]

yeah. you still don't understand them do you?

I obviously don't

this time it's different eh

Milan.

[Lance]

Print it out and keep in it your wallet.

[milanbenes]

It's enforced at a limit by it's core cryptographic algorithms.
It's kinda the whole point (one of the points). The maximum is approx 21M.
Currently mined are approx 12.5M
Current estimates are that they'll all be mined by 2140.

yes I read that on google too

but come on, do we really believe it ?

Obviously, there's a config file for the core algorithm where you set the MaxNumberOfCoins=



if you believe that crap that it's unbreakably fixed at 21million, and oh it's so romantic, the more there are the harder they are to mine and oh Mills and Boon and Daniela Steel all in one, estimated by 2040 they'll all be mined

for feck's sake

kids today eh

Milan.

[milanbenes]

Print it out and keep in it your wallet.

your digital wallet

Milan.

[FrontEnder]

yes I read that on google too

but come on, do we really believe it ?

Obviously, there's a config file for the core algorithm where you set the MaxNumberOfCoins=



if you believe that crap that it's unbreakably fixed at 21million, and oh it's so romantic, the more there are the harder they are to mine and oh Mills and Boon and Daniela Steel all in one, estimated by 2040 they'll all be mined

for feck's sake

kids today eh

Milan.

A config file.



You're either trolling or you really do not understand it.

It's cryptographically set so that changing the fundamentals like the limit after it's initial creation means you have to change the WHOLE blockchain. Considering the computing power that has gone into that over the last few years, it's a practical impossibility. It would require computing power far in advance of what we are capable of and will be capable of for the foreseeable future.

And then even if you did have that amount of power to do it, you'd have to do it across all the nodes (or at least above a certain percentage of them) all at once.

[northernladyuk]

A config file.



You're either trolling or you really do not understand it.

It's cryptographically set so that changing the fundamentals like the limit after it's initial creation means you have to change the WHOLE blockchain. Considering the computing power that has gone into that over the last few years, it's a practical impossibility. It would require computing power far in advance of what we are capable of and will be capable of for the foreseeable future.

And then even if you did have that amount of power to do it, you'd have to do it across all the nodes (or at least above a certain percentage of them) all at once.

The two are not mutually exclusive.