/biz/ - Business & Finance

>>12145658

You can.

Just fork it. There, new Bitcoins.

If you want more original Bitcoin, you need miners and developers to just program it in. It's not as hard as cap as fags make it out to be. Sure none of the devs will agree to do it now. But in 30 years when a ton of government and 3 letter agency pressure (if it ever gets adopted as a currency which it wont) you can bet they will be forced to remove the cap and print billions of Bitcoins.

>>12145697
Wtf? There are no “bitcoin devs”

>>12145697
This is so incorrect I don’t even know how you’d come to that theory.

>>12145706

Blockstream is one of them.

BlocksTreamCoin.

>>12145721

Prove it wrong.

>>12145658
Because before you can do that, you would have to get inside a very secure vault, or manipulate people into thinking your bitcoin is real, just like Bitcoin Core devs do

its the blockchain thats why
when you mine a new block through the sha-256 method though information gathered from the previous block, it contains all the information of every single transaction that occurred between the last block and now and its open to the public and subjected to confirmations by other miners

yes it is just 1's and 0's, but very very difficult to obtain 1's and 0's

>>12145658
Every computer in the world is like a copy of a lock.
Everyone is racing to find the key.
The first person to find the key that fits the lock gets the key.

>>12145658
You can. It is called a fork. You can create more of any currency. But good luck going into a store with your meme money without someone calling the cops on you.

No one would want the bitcoins from your fork, as people have agreed that the original bitcoin blockchain is the one with value. I think bitcoin is somewhat dumb in the sense it has no utility beyond use of currency, and believe the true value of crypto will be seen with smartcontracts and dapps.

>>12145658
Yes we can. However I think the devs and whales are waiting until Wall Street is done setting up all kinds of futures markets for bitcoin and then boom!, we hard folk into a new bitcoin and they are left with nothing but thin air. Listen to this Keiser report and you’ll get a better picture of how it could work out

>>12145792
Sorry, link here: https://youtu.be/Yip8zUx8V7w

>>12145658
Same reason you can't make new credit cards, which are also just 1's and 0's.

>>12145658
if you own 1 Bitcoin
it's not a file you can duplicate

it's an agreement with a large network of people
that you have the 'right' to transmit ownership of that Bitcoin to another address
(its just like changing the name on a house, the house never moves)

there isn't a 'cap' in the Bitcoin code that can just be increased,
the miners would have to change the code to start producing new Bitcoin every block again,
which is technically possible
and yes they do have an incentive to do it

but, since Bitcoin is transparent we would see it happening

we have 2 choices:
1) fork Bitcoin to keep the original 21 million limit
2) abandon Bitcoin for another currency
with a different enough structure to make all the miner's equipment worthless

in both cases the Miners lose huge amounts of money
and are better off cooperating with the network

it's like this:
sure, Facebook COULD fill up the entire screen with ads
so they make 100x more money in the short term
but they would quickly lose their dominance,
and throw away a long term profit-machine

much better to keep users happy and on your system

>>12145658
you can. what do you think all those thousands of shitcoins are?

>>12145658
the whole point of bitcoin is a consensus
in theory nothing is stopping you from creating more coins, but who else would be in consensus with you?
So bitcoin is the consensus that has the most amount of users and subsequent hashing power
in that version nobody can just create new bitcoin without following the distribution consensus which requires SHA-256 hashing solutions

>>12145697
kek, and people say crypto has already gone mainstream even though garbage like this is still posted all over the place.
99.999% of planet earth still has no fucking clue how bitcoin works at even the most rudimentary level, but they will learn eventually.

>>12145729
you are a fucking retard who fell for chinese asicboost fork memes.

>Satoshi cites Back (blockstream ceo), and the Hashcash protocol Back invented, as early influences on Bitcoin’s proof of work algorithm.