/biz/ - Business & Finance

>>23953286
forking is how bitcoin works though (or how it's supposed to work). a change is made and the miners "vote" by working on that chain, if the chain becomes the longest the change is permanent.

if bitcoin keeps growing all miners could come together and decide that there shouldn't be 21 million BTC max, but 21 billion. then the change happens if that chain becomes the longest.

however, i said that's how it's SUPPOSED to work. in reality all markets/exchanges/wallet-service-providers would also need to be convinced, otherwise the miners would mine on the longest chain but it's not really a part of the economy (at least not yet).

the built-in deflation of bitcoin should keep miners from wanting to increase the supply though. however eventually the block rewards get so small that usage becomes very important to collect fees.

some day the miners will probably become really interested in collecting "dead coin", addresses that haven't been spent in 100 years. the protocol could be changed to release that money and distribute the satoshis as mining fee over the next 1000 blocks or so. that's a hard fork change most miners probably would want to vote yes on with their hashpower.

Satoshi?

is this Craig Ver

or Roger Wright?