Re:Bitcoin Is Fundamentally Flawed
by paulhodge on Monday April 08, 2013 @02:20PM
(#5513504)
Or more likely.. the Bitcoin developers release a new version that allows for more than 21m coins. I think a lot of people don't realize that Bitcoin is still an actively developed beta-version software project. There are several parts of the code that the devs are already thinking about changing (such as the way that transaction fees are calculated, or increasing the number of times you can subdivide one coin). If the 21m limit becomes crippling, I'm sure they will change that too. Really, they can change anything they want as long as they can convince 51% of pool owners to upgrade.
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Can you imagine miners or MtGox voting to devalue their own holdings? I don't think many people are in it for the revolution.
Re:Bitcoin Is Fundamentally Flawed
by dragonwriter on Monday April 08, 2013 @07:23PM
(#5515399)
> Can you imagine miners or MtGox voting to devalue their own holdings?
I can imagine, if Bitcoin was perceived as a serious currency, nation-states and existing large and wealthy financial institutions investing large amounts in becoming participants in the network.
Can I imagine those institutions acting with regard to Bitcoin the same as they act with regard to traditional sovereign currencies? Easily.
Re:Bitcoin Is Fundamentally Flawed
by ramblerman on Tuesday April 09, 2013 @07:20AM
(#5517367)
not quite. The 21m upper limit is one variable that can't change.