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24513577 No.24513577 [Reply] [Original]

What's stopping main BTC devs from changing supply at any given point? What makes you think they won't change it eventually? Faith?

Shitcoins alter their supply all the time, all it takes is a simple agreement, a human agreement.

This market is built on the notion that computer code is immutable and that's never been the case.

>> No.24513623

they aint gonna do it knowing that limited supply is literally the only thing btc has going for it
it's absolute trash from any other point of view

>> No.24513639

>>24513577
The main BTC dev is dead.

>> No.24513680

>>24513577
Devs can't unilaterally force this to happen. The entire network of participants, ie nodes and miners, can just reject a revision to the total supply, which is likely as it would devalue their holdings. It's not just as simple as changing the "computer code" when it relies on concenus

>> No.24513687

>>24513577
>the btc holders are going to devalue their holdings
imagine being 19 and stupid.

>> No.24513730

>>24513577
Miners confirm the correct chain. If Bitcoin devs do something fucky, miners will abandon the chain and create a fork.
Happened a bunch of times already

>> No.24513765

>>24513680
HUMAN consensus. Then, what happens when they come to an agreement? Real stocks splits all the time but at least those are regulated. Nothing is preventing BTC devs from changing supply at any time but pure faith. Would you buy shit at 20k because you have faith in it? This is why institutionals will never buy this horseshit.

>> No.24513787

>>24513577
There’s no way to do it. It would just cause another fork and like all bitcoin forks it can’t drain value from bitcoin unless there’s an enormous amount of investment to catch up with bitcoin’s network. As btc grows its harder and harder and eventually practically impossible

>> No.24513807

>>24513730
Again, that's your assumption. Miners can do a lot of reallly fucked up things, like rolling back, forks (which they do all the time), so nothing is preventing them from accepting a change in supply. It's literally just computer code with zero legal or economic backing.

>> No.24513825

>>24513765
Dude you’re a moron

>> No.24513841

>>24513765
This argument is no different than the code changes bcash did to increase the block size. Did bcash's fork win over the mining power? No? Then why would a chain with a higher supply prove any different?

>> No.24513849

>>24513787
All you need is to change a single number on bitcoin's main app, that's it. You have faith that it won't happen, but you have no certainty about it.

>> No.24513922

>>24513849
You’re using the word “faith” to smuggle in your prejudice. It’s not faith. It’s a logical game theoretical alignment of incentives and structure that make it nearly impossible for what you describe to happen.

If you call that faith then sure everything we rely on should have this kind of faith.

Get blown boomer

>> No.24513934

>>24513807
You don't get it. It's a perfect protocol where a bad actor is penalized enough that they would be better off economically by acting in bitcoin's best interest. Your argument has been written about extensively by people much smarter than you, if you cared to research rather than make a bait thread

>> No.24513956

>>24513841
>>24513825
You are a bunch of religious people. All it takes is a single parameter change to alter the whole supply. Also you are talking about miners like being a really huge distributed network but that's not even the case, there is literally like two big miners dictating everything. TWO fucking miners dictate the future of BTC. So you have faith not only in immutable code but that two people will never decide that BTC supply is stupid.

This market is built on pure faith, it's hilarious.

>> No.24513986

>>24513807
The backing is democratic consensus. If we can't trust in that we can't trust anything. All laws can be changed with democratic consensus. The blockchain is the purest Form of democracy where a vote can't be changed or manipulated.

>> No.24514004

>>24513922
It is faith in computer code. Everything else is just mental masturbation.

>>24513934
>perfect protocol
Let me guess, you have never written a single piece of code in your life, right?

>> No.24514036

>>24513986
Bitcoin can be changed by a very limited amount of people, the devs and the two main miners. That's literally less than 10 people in the whole world. You don't know what democracy means lmao

>> No.24514097

>>24514004
You might think you are such a genius that you know how to change an integer in a function parameter but you are missing the entire codebase and its implications, or more likely, you're baiting kang

>> No.24514179

>>24514097
Less than ten people are in control of BTC supply, and that's including devs and miners. Do you actually believe that buying shit that's controlled by less than ten people is a good investment?

>> No.24514292

>>24514179
>Goal post, moved
Just sell your altcoin bags anon. You know you don't have enough faith in them

>> No.24514342

>>24513577
What you're referring to is a hard fork. And for a hard fork to be "valid", the vast majority of the community would need to agree to switch over to that fork. For example, when ETH had a hard fork to revert the dao hack, and the original version became ethereum classic and got left behind. Conversely, there are other times where a hard fork fails to gain traction, such as with Bitcoin Cash.

>> No.24514455

>>24514179
>Less than ten people are in control of BTC supply
When they changed the blocksize it forked but they maintained control over the majority fork. If they make a decision most users disagree with their chain becomes the minority fork. Nobody wants a dynamic supply in BTC so nobody would use that chain.

>> No.24514458

>>24514292
Who gives a shit about alts lmao

>>24514342
If there is 100% consensus then it's not a fork, it's a feature modification.

>> No.24514486
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24514486

>>24513577
Bitcoin can't even increase it's blocksize without the community chimping out, now imagine if they changed the supply. It would end up like Bitcoin Gold and Bitcoin Diamond, another failed fork.

>> No.24514510

>>24514455
>Nobody wants a dynamic supply in BTC
Maybe not today, but certainly that can change at any given time which is my whole point. You have faith in a lot of things being static, but ultimately you are relying on humans. Bitcoin code is not immutable.

>> No.24514517

>>24514458
>100% consensus
Okay, and why was it that BCash was not 100% against and the ETH dao hack revert was not 100% for?

Yet you think changing BTC's signature feature of a set amount would be 100% consensus?

>> No.24514521

>>24514486
Where can I get this sweater?

>> No.24514522

>>24513577
Satoshi is a computer program

>> No.24514530

>>24513577
How long will it be until the last bitcoin is mined? I remember hearing it was like 2140 or something so non of us will have to worry about it anyway

>> No.24514595

Holy shit the amount of newfaggery in this thread...

>> No.24514615

>>24514510
>If everyone wants BTC to have a dynamic supply that's possible
Wow what an insight, thanks for sharing. Have you thought about what would happen if everyone suddenly liked eating poop? It would be chaos, we have to be prepared.

>> No.24514627

>>24514530
Speak for yourself. Each transaction of mine uploads my brain into the blockchain

>> No.24514659

>>24513765
Are you retarded

>> No.24514731

>Eating poop
>Changing a line of code

Yeah dude, pretty much the same thing, spot on. Your responses are getting more emotional by the minute because deep inside you know I'm right, BTC has no solid backing.

>> No.24514849

>>24514731
Don't forget to sell your altcoins for BTC. C u tommorow edge lord

>> No.24515480

>>24513577
People will start mining the correct chain without this update

>> No.24515847

>>24513765
Holy shit you are literally retarded

>> No.24516086

>>24514522
Crypto is fiat for the future AI system, should screenshot this.