Re:Crypto lobbying is going ballistic
by Jensson on Wednesday December 08, 2021 @05:44AM
(#29483219)
Crypto bubble bursting just means that all investors leave, not that crypto currencies disappear. So bitcoin would go back to levels it was at before the investment craze 4 years ago, so about 5 years ago? At that point you could buy stuff with it and send people money, but people didn't view it as an investment vehicle.
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Re:Crypto lobbying is going ballistic
by denton-scratch on Wednesday December 08, 2021 @06:24AM
(#29483488)
The blockchain is an append-only structure; it can only grow. The longer the blockchain, the more it costs to process a transaction.
So if people divest from bitcoin and the price drops, that won't make bitcoin more suitable for buying stuff. Nothing can make the blockchain shorter.
You can truncate it at any point you want. If in 2060, the community collectively decides that the chain is too long, they can just decide that a block from 2040 is the new genesis block.
Re:Crypto lobbying is going ballistic
by denton-scratch on Thursday December 09, 2021 @05:38AM
(#29495897)
By 2060 I'll have been dead for about 15 years.