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THE BITCOIN IS STRONG
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[quote:W0RD'SW0RD:MV8zNDcyMzUxXzYxOTU0MzMzXzQ1ODExMEY2] [quote:W0RD'SW0RD:MV8zNDcyMzUxXzYxOTU0MzAxXzgwQTIyMjE5] [quote:Anonymous Coward 73533979:MV8zNDcyMzUxXzYxOTU0MjE5Xzk2QTBGMTVE] [quote:W0RD'SW0RD:MV8zNDcyMzUxXzYxOTU0MTk3X0JCODdFODBC] [quote:Anonymous Coward 73533979:MV8zNDcyMzUxXzYxOTU0MTY4X0FDQTBFOTU1] [quote:W0RD'SW0RD:MV8zNDcyMzUxXzYxOTU0MDE3XzcyOUMwODM0] [quote:Anonymous Coward 73533979:MV8zNDcyMzUxXzYxOTUzOTk3XzI4NDM4MTBB] [quote:W0RD'SW0RD:MV8zNDcyMzUxXzYxOTUxMjQ1X0Q1QkZCOTAx] [quote:Anonymous Coward 74348621:MV8zNDcyMzUxXzYxOTUxMTQ3XzM5Rjc2Njc0] [quote:Anonymous Coward 27814554:MV8zNDcyMzUxXzYxOTQ4NDI3XzI5MEU2NTIz] [quote:Anonymous Coward 74409681:MV8zNDcyMzUxXzYxOTQ4Mjk1XzIwNzlBMTc2] [quote:Anonymous Coward 74276302:MV8zNDcyMzUxXzYxOTQ4MTg1XzNCMjQyRTZF] [quote:Anonymous Coward 74409681:MV8zNDcyMzUxXzYxOTQ4MDk3X0NERjMxNDM0] What happens if my hard drive crashes, or internet goes down for a month. [/quote] back up your wallet.dat and get a new machine.. carry on... [/quote] I cant afford a new machine. [/quote] Then have an online wallet and a local wallet then sync them. - Local wallet on physical machine https://bitcoin.org/en/download - Online wallet to provide back up for your wallet. Fill out all the security steps please. https://blockchain.info/ Like itunes syncs your library. Or just have the blockchain address from the online wallet. Works either way. [/quote] What happens when all the bitcoins are mined?? [/quote] They never will be. Mining gets more and more difficult, ad infinitum, as the number of total bitcoins mined approaches 21 million. [/quote] That's not true. Last bitcoin will be mined in 2040 roughly. Mining does not end however. There will continue to be miners because there are very small transaction fees required to send bitcoin. While finding a block post block reward days the finder will be rewarded with just mining fees of the associated block. However the price of bitcoin will be that such reward will still be quite profitable. Scarcity remains and network remains strong and secure given the profit of the reward. Incentive structure of bitcoin is quite genius and fair. [/quote] Didn't know that, thanks. So it would be correct to say there will always be mined bitcoins, but not always mined blocks. [/quote] Blocks will continue to be found by miners. They will simply have a reward of 0 minted new bitcoins once it falls below a single satoshi sometime around 2140. The block reward consists of a new mint reward - currently 12.5 coins per block + transaction fees associated with the block (currently averaging 1-2 BTC per block). So after 2140 when the reward falls below the lowest divisible quantity of the network (a single satoshi) - (0.00000001 BTC) the newly minted coin reward will be zero of the given block and only the transaction fees portion of the reward will remain. [/quote] Wow. So... Theoretically... A (less than) satoshi could potentially be worth an entire block reward in 2140. What would the world do with so much wealth? We'd have to travel the stars or something. [/quote] Well hopefully by 2140 humanity will have cured aging, mastered knowledge of consciousness and the abilities to transfer into other bodies/avatars while at minimum have the ability to travel at will within the immediate solar system. Ultimately we should seek out "Where no man has gone before". [/quote] :spock: [/quote] This said, what would stop someone with say, 100,000 bitcoins from gifting a few Satoshi to every single person on earth? Might not be worth much now, but it would grow over time, and it would ensure everyone had a stake and eventual wealth down their line. [/quote]
Original Message
Denied Winkelvoss ETF today.
Does bitcoin seem to care much?
Nah...
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