question??? why is bitcoin cash hardforking again for the second time on May 15th? i do not understand... will i get 1 bitcoin cash for every bitcoin i own?....
I was wondering if you have seen this white paper that claims that bitcoin mining becomes unstable when block rewards becomes incentively insignificant and transaction fees begin to make up the majority of the coinbase transaction: via.hypothes.is/randomwalker.info/publications/mining_CCS.pdf I've been looking at some game theoretical scenarios, but I was thinking that in the case of bitcoin block reward going to near zero (which won't happen for some time), that if the coinbase tx has a long enough lock time, then if someone was to try to fork blocks that by the time their undercutting attack rewrote the history, that what they collect would be worth next to nothing. Do you have any thoughts on this? This paper was written by CS PhD candidates at Princeton and has some computer simulator results...
Are mining pools not a form of centralization? It is my understand that Bitmain and it’s affiliates, friends, partners, connections etc. control over 50% of the mining...
Let's assume a block is mined every 10 minutes, in that case you would have 144 blocks in a day. If you have 51% of the hashpower, it means you'll mine 1% more than the competition, which is 1.4 blocks more a day
Bryan Keller I mean the total supply of Bitcoin is limited.but people lost their coins constantly. Giving enough time there will be less and less Bitcoin in circulation right?
刘阳 Well, perhaps. I don't think people lose so many, but in any case we can always add more decimal places. Even if there were only 1 BTC instead of 15M, it could have like 20 decimal places I could send you 0.0000000000000000001 BTC.
It's important to understand that you can subdivide 1 bitcoin 1 million times. This means that if the supply is constricted and less bitcoins are in circulation the price will react by going up (demand stays the same, supply lowers). This means that when you go to purchase bitcoin it will be more expensive and you will get less per dollar amount than if the supply wasn't constrained. But since everyone else has to pay that premium it doesn't effect distribution much.
I dont think he considers himself the bitcoin Jesus but alot of us call him that because he has done so much to spread honest and correct information about bitcoin/blockchain. If you have 2 hours to kill you should watch his 2 hour video when he spoke to a Canadian Senate sub- committee.
