Poll
Question: Closing BTC Price June 28:
$0 - 5 (2.6%)
<$7,000 - 4 (2.1%)
$7,000-$7,499 - 0 (0%)
$7,500-$7,999 - 0 (0%)
$8,000-$8,499 - 1 (0.5%)
$8,500-$8,999 - 3 (1.6%)
$9,000-$9,499 - 4 (2.1%)
$9,500-$9,999 - 27 (14.2%)
$10,000-$10,499 - 26 (13.7%)
$10,500-10,999 - 15 (7.9%)
$11,000-$11,499 - 14 (7.4%)
$11,500-$12,000 - 17 (8.9%)
>$12,000 - 59 (31.1%)
>$20,000 - 15 (7.9%)
Total Voters: 190

Pages: « 1 ... 15125 15126 15127 15128 15129 15130 15131 15132 15133 15134 15135 15136 15137 15138 15139 15140 15141 15142 15143 15144 15145 15146 15147 15148 15149 15150 15151 15152 15153 15154 15155 15156 15157 15158 15159 15160 15161 15162 15163 15164 15165 15166 15167 15168 15169 15170 15171 15172 15173 15174 [15175] 15176 15177 15178 15179 15180 15181 15182 15183 15184 15185 15186 15187 15188 15189 15190 15191 15192 15193 15194 15195 15196 15197 15198 15199 15200 15201 15202 15203 15204 15205 15206 15207 15208 15209 15210 15211 15212 15213 15214 15215 15216 15217 15218 15219 15220 15221 15222 15223 15224 15225 ... 24401 »
  Reply  |  Watch  |  Notify  |  Mark unread  |  Print  
Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21254350 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (68 posts by 16 users deleted.)
BitUsher
Legendary
*
Offline Offline

Activity: 966
Merit: 1027


View Profile Personal Message (Offline)

Ignore
April 19, 2016, 06:00:25 PM

the second miners increase the block reward or change any fundamentals of why we love Bitcoin we can quickly discard them

That is the point: with a soft-fork type of change, old clients would not even be aware that the change was
deployed and activated, unless they read about it somewhere.  How many bitcoin users follow the forums
(and know about the reward schedule)?

No, its akin to a seller telling a merchant that they have been paid/ them checking their bank or paypal account and not seeing the funds, and the seller socially engineering the merchant to go to a different site and login to a fake bank. Of Course some idiots will fall for this , but most will be alarmed and do a speck of research before accepting the fraudulent software.

Switching the PoW algorithm will not jam the miners' equipment.  They would
continue mining as always, and every user or business will continue to
use their blockchain by default, "secured by a network with 1.5 PH/s
of mining power".  

What "switch the algo" actually means means  is that the Faithful will create
a new altcoin, say "TruCoin", that starts off with the current state of the bitcoin
blockchain, but has only a modest amount of CPU/GPU mining; and will ask
everybody to ditch their bitcoins and use only TruCoin.  

But, to  do that, users would have to download a new version of the software.  


You are quite correct that the ASIC mining cartel will be left with a pathetic 1.5 PH/s of hash power(Did you forget what year it was?) because their new alt they created with higher inflation will be practically worthless. The other alt, you call "trucoin" would certainly also take a massive hit, but could recover in time.


How many do you think will bother?  My guess is fewer than 5000 bitcoiners...

21 million is so intrinsic to the identity and contract of bitcoin most would move over, but for the sake of argument lets assume only 100 people move over... Do you really think we care? You are making an assumption that we are only greedy speculative traders who have no principles. I will never accept or use a bitcoin alt that changed the inflation rate.