bitcoins

[panthera]

Under this protocol it's limited but they can change the protocol and generate more supply.

But, if supply is truly limited... what happens when it's fully mined? From a tech perspective, if there isn't value in generation, it will fall to the side. Sure, the last 2.5M will take over a hundred years to mine but laws of decreasing returns suggests it will stop being mined before supply exhausts.

Supply is hard wired and cannot be manipulated. Any attempt will be seen and rejected. Its impossible.
What happens when the blockchain has produce the total 21m supply? Nothing. Things continue as normal. Blocks mined ever 10 minutes. The only difference is that the block reward will stop and the miners are incentivized to keep mining and they are paid not in new coins but coins that came from transaction fees.

 

[dagle]

it isn't impossible, if there is consensus amongst nodes to adopt a fork, the true bitcoin chain will continue on the new fork.

 

[cheez]

If BTC/USD approaches $200k Satoshi Nakamoto will be the richest individual on earth, holding more than 1mm BTC in his accounts.

 

[panthera]

it isn't impossible, if there is consensus amongst nodes to adopt a fork, the true bitcoin chain will continue on the new fork.

Thats not the same as adding more than 21m Bitcoins. Sure you can create a fork of bitcoin but who is going to mine it or use it. There have been may forks of the core software. None have added more Bitcoin. Yeah there is bitcoin diamond, gold, bcashabc, or bsv but none are legacy or segwit Bitcoin.

 

[panthera]

If BTC/USD approaches $200k Satoshi Nakamoto will be the richest individual on earth, holding more than 1mm BTC in his accounts.

Not only that but the forks.

 

[panthera]

Bitcoin is a huge bargain today. It's a much bigger bargain that it was last week at $5k. It's $4k now! I'd back the truck up, and also put some money away to buy at $2k when it gets there. Hugest bargain.

Just think of all of the fail that you could be touting if you had bought at $8k like some advocated early in this thread! :laughing

Lol. From Nov 2018. Yeah you would be WAY up if you had bought. Keep to your stocks and I will keep doing what Im doing. It has worked out great for me and I still believe that this is the beginning. JPM now calling for 146k btc.

 

[dagle]

right because it isn’t seen as a problem today for core. 100 years from now if you have no incentives for miners or less incentive than elsewhere, it weakens the security of the entire network. if they decide to up the number and the majority of nodes agree that the new chain is the “real” chain they can continue on that. bitcoin core devs and the mining orgs decide, the same mechanics will exist 100 years from now which will decide. i wouldn’t rule it out as a possibility although i also don’t see it as much of a problem for the next few decades.

 

[scootergmc]

Other than market cap, why BTC over say, XRP?

 

[Mike95060]

Will quantum computing make mining or blockchain irrelevant?

 

[dagle]

Other than market cap, why BTC over say, XRP?

BTC isn’t centrally controlled or financially aligned with any organization. XRP is controlled and aligned financially with Ripple the company (they hold 65B+ if you count jed, chris, david and brad.)

 

[Blankpage]

Finally got around to opening an account. Transferred the minimum required just to setup and test the account.
If the money it there in 24 hours I’ll dump in some big bucks and off to Lambo land.

 

[jiffy]

It's funny how same people show up saying it will only go up on rally, then disappear when price crashes.

Seems like few wealthy investors are behind this new rally. With bunch of speculate on why. Maybe of more hedge funds managers who are playing with other people's money buy in it will go up. Although if they over sudden decide to dump their bit coins it will come crashing fast. Like last time.

I find it even more comical the same souls are in here denouncing crypto every time the price hits a new high. They come out of the woodwork to remind everyone bitcoin is not backed by assets or it will go to zero. It drops and then reaches another new high, and the cycle continues.

 

[panthera]

Fresh new ath. 41,700. Soon it will be almost impossible for everyone to have one bitcoin. When this thread started it was about 1k. Good luck with your investments.

 

[scootergmc]

Fresh new ath. 41,700. Soon it will be almost impossible for everyone to have one bitcoin. When this thread started it was about 1k. Good luck with your investments.

So what are your holdings and gains? Are you cashing out?

 

[UDRider]

I find it even more comical the same souls are in here denouncing crypto every time the price hits a new high. They come out of the woodwork to remind everyone bitcoin is not backed by assets or it will go to zero. It drops and then reaches another new high, and the cycle continues.

Pretty sure I said somewhere in this thread that it's a speculative asset. I don't think either side truly knows what will happen. It might drop again and climb, or it might not.
I found this from couple years ago:

Since I've posted in this thread previously, Im here to say that Im out for now. Sold all my btc for 11,200 which is about a 500% profit.

To be clear I think that btc is way over valued at this point and Im interested in a little capital preservation right now. I'll most likely only mine once my equipment come.

Dont worry Stang, you will get another chance tonight. Probably sub 10k though!

So clearly at least at that time panthera didn't want to risk it. Now he is back with what seems like "I told you so" posts. :dunno

 

[panthera]

So what are your holdings and gains? Are you cashing out?

Holdings are mostly bitcoin. Very small percentage of shitcoins. No I will not be cashing out. Although if I did now I wouldn't ever have to work again. What I plan to do is let irise in value, if I need money for whatever reason, I will take out a secured loan using my btc. Then pay it off and pass down the btc to my children and grandchildren. I plan to keep working my day job to pay the bills.

 

[panthera]

Pretty sure I said somewhere in this thread that it's a speculative asset. I don't think either side truly knows what will happen. It might drop again and climb, or it might not.
I found this from couple years ago:



So clearly at least at that time panthera didn't want to risk it. Now he is back with what seems like "I told you so" posts. :shrug

Not sure what you are going on about. I've been buying every day for years. Even through the bear market. You do you and I'll keep doing what I'm doing. Its working great for me.

 

[scootergmc]

Holdings are mostly bitcoin. Very small percentage of shitcoins. No I will not be cashing out. Although if I did now I wouldn't ever have to work again. What I plan to do is let irise in value, if I need money for whatever reason, I will take out a secured loan using my btc. Then pay it off and pass down the btc to my children and grandchildren. I plan to keep working my day job to pay the bills.

So if you were going to invest now, which "shitcoin" is the most appealing (assume <$1)?

 

[panthera]

None. Btc is the only truly decentralized, limited supply, digital gold. If I had bought only btc I would be double. If hadn't bought gold and silver I would have even more.

 

[UDRider]

Not sure what you are going on about. I've been buying every day for years. Even through the bear market. You do you and I'll keep doing what I'm doing. Its working great for me.

Except that one time you sold it all because you thought it was over valued at 11k. Yeah you started to buy on "the dips" after, but really nothing fundamentally have changed about btc. When it was hitting 20k couple years ago I saw same articles predicting it will go to 100k, 1M. Then it dropped. Bounced around for a while, and now over sudden started to sore again. I am starting to see same articles popping up. Will it happen? Maybe. Will it drop back to 1k range? Also possible. You seem to be buying on faith in btc, cool. You do you. Glad it's working out for you. Maybe this time it will stay high and will hit 1M, or it will crash. Who knows.