Lol WEF, you don't need to be an expert to understand the concept of proof of stake. These people are acting like it's a new idea. Good luck convincing the decentralised community to change it though. Not to mention any unauthorised changes to the code would be rectified immediately due to it's decentralised nature, or would instantly tank the value so everyone has an incentive not to fuck with it.
Not to mention any unauthorised changes to the code would be rectified immediately due to it's decentralised nature, or would instantly tank the value so everyone has an incentive not to fuck with it.
The miners dictate which fork will be the winning one. See Bitcoin "core" vs "cash", Bcash did have a potentially good solution to scaling, miners disagree because they would get paid less. The result, a fork where a few users went over to Bcash and most stayed with core where the miners are.
Not only does miners provide security in a proof of work network, but if you're on a fork using the same algorithm as the original, that's a pretty big attack vector. One large miner could easily launch a 51% attack on Bcash due to it's low hashrate compared to core.
If WEF where to create their own version of Bitcoin it would be the same thing, sure they could easily do that, but no miner would support it and no sane user would trust WEF who's "solution" is most likely to just centralize it all and put themselves in charge, "for the environment" of course. 🤡
It is a simple matter of regulation with a choice: a or b. Self interest prevails and you will see a change. Bitcoin is already pack and parcel of the system. You only have to compare certain currencies and commodities and you will see the movement.
The moment futures were setup for bitcoin was the end of bitcoin as was intended. The " market' s price discovery" - mechanism was hijacked and manipulated just as with Gold and Silver.
Anyone can submit a BIP that aims to change the bitcoin core. The BIP must be approved by an editor. The BIP must be voted in with 95% confidence from the miners. The community must upgrade to the new software version. The above-described consensus model ensures that no one bad actor or minority group thereof can control the fate of Bitcoin...
About 50 key miners, crypto exchanges and core developers have the power to change Bitcoin's code. Whether this would work is a different story...
Bitcoin's rules can be easily changed by altering Bitcoin's source code. However, Bitcoin is governed by the software run by nodes, not by the source code. Removing the strict limit on the number of bitcoin would destroy the value of Bitcoin as a system and alienate investors and long-time believers...
As a decentralized system by design, it can be difficult to see where the real power lies in Bitcoin. There are a number of different players in the ecosystem (e.g. miners, hodlers, exchanges ...
The code can be changed, but because Bitcoin is decentralized, there is no authority which could force you to use the changed code...
Arrogant evil fucks. Who believe themselves to be a divine master race. But divine implies "from God". The word should be a "satanic master race". But the bible tells us in the end, God wins. So there is no "Satanic Master Race" in anything other than a temporary timeframe.
Q is correct: these people are evil and these people are sick. You'll find them worshiping themselves at every award ceremony as they breathlessly pin medals on each other and demand worship from the audience. I'm certain they can't tell the difference between good and evil or perhaps they just don't care.
Yes, you can "change" the coding(edit)...(a fork is a good example)...But you cannot change the code to make it more Eco-friendly....I should have been more clear on that...
You can change the code to do anything you like - its just code after all. Embed a flight sim or a spreadsheet or an FPS even, go crazy. That doesn't mean that all the users of bitcoin need to accept changes though.
And a change that means that the artificial scarcity angle is gone (aka the thing which leads to exponentially higher mining burden for each new bc) means its just then purely a fiat subject to infinite counterfeiting (aka 'money printing') like all other fiat currencies.
Which means it loses any and all value immediately.
Lol WEF, you don't need to be an expert to understand the concept of proof of stake. These people are acting like it's a new idea. Good luck convincing the decentralised community to change it though. Not to mention any unauthorised changes to the code would be rectified immediately due to it's decentralised nature, or would instantly tank the value so everyone has an incentive not to fuck with it.
Exactly...👌
The miners dictate which fork will be the winning one. See Bitcoin "core" vs "cash", Bcash did have a potentially good solution to scaling, miners disagree because they would get paid less. The result, a fork where a few users went over to Bcash and most stayed with core where the miners are.
Not only does miners provide security in a proof of work network, but if you're on a fork using the same algorithm as the original, that's a pretty big attack vector. One large miner could easily launch a 51% attack on Bcash due to it's low hashrate compared to core.
If WEF where to create their own version of Bitcoin it would be the same thing, sure they could easily do that, but no miner would support it and no sane user would trust WEF who's "solution" is most likely to just centralize it all and put themselves in charge, "for the environment" of course. 🤡
That can easily be done.
It is a simple matter of regulation with a choice: a or b. Self interest prevails and you will see a change. Bitcoin is already pack and parcel of the system. You only have to compare certain currencies and commodities and you will see the movement.
The moment futures were setup for bitcoin was the end of bitcoin as was intended. The " market' s price discovery" - mechanism was hijacked and manipulated just as with Gold and Silver.
Anyone can submit a BIP that aims to change the bitcoin core. The BIP must be approved by an editor. The BIP must be voted in with 95% confidence from the miners. The community must upgrade to the new software version. The above-described consensus model ensures that no one bad actor or minority group thereof can control the fate of Bitcoin...
About 50 key miners, crypto exchanges and core developers have the power to change Bitcoin's code. Whether this would work is a different story...
Bitcoin's rules can be easily changed by altering Bitcoin's source code. However, Bitcoin is governed by the software run by nodes, not by the source code. Removing the strict limit on the number of bitcoin would destroy the value of Bitcoin as a system and alienate investors and long-time believers...
As a decentralized system by design, it can be difficult to see where the real power lies in Bitcoin. There are a number of different players in the ecosystem (e.g. miners, hodlers, exchanges ...
The code can be changed, but because Bitcoin is decentralized, there is no authority which could force you to use the changed code...
BIP stands for Bitcoin Improvement Proposal...
Learn more... https://www.weforum.org/agenda/2022/03/crypto-energy-consumption/?utm_source=twitter&utm_medium=social_video&utm_term=1_1&utm_content=25615_experts_cut_bitcoin_carbon_footprint&utm_campaign=social_video_2022
The WEF are pretty fucking stupid. I though they were supposed to be a divine master race!??
Arrogant evil fucks. Who believe themselves to be a divine master race. But divine implies "from God". The word should be a "satanic master race". But the bible tells us in the end, God wins. So there is no "Satanic Master Race" in anything other than a temporary timeframe.
God's chosen choose Jesus.
Q is correct: these people are evil and these people are sick. You'll find them worshiping themselves at every award ceremony as they breathlessly pin medals on each other and demand worship from the audience. I'm certain they can't tell the difference between good and evil or perhaps they just don't care.
Yes, you can "change" the coding(edit)...(a fork is a good example)...But you cannot change the code to make it more Eco-friendly....I should have been more clear on that...
You can change the code to do anything you like - its just code after all. Embed a flight sim or a spreadsheet or an FPS even, go crazy. That doesn't mean that all the users of bitcoin need to accept changes though.
And a change that means that the artificial scarcity angle is gone (aka the thing which leads to exponentially higher mining burden for each new bc) means its just then purely a fiat subject to infinite counterfeiting (aka 'money printing') like all other fiat currencies.
Which means it loses any and all value immediately.
Precisely...
That's because it will change Bitcoin Entirely and the BTC fanatics don't want that...The Crypto community are funny like that...