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Actually, particular cryptocurrency supply is truly limited, unlike gold, which is extremely abundant in our universe. Depends what you mean by a 'particular'
by joosters 9y ago
Actually, particular cryptocurrency supply is truly limited, unlike gold, which is extremely abundant in our universe.
Depends what you mean by a 'particular' cryptocurrency. There's certainly been no sign of a limit on bitcoin, what with all its forks. And there's no end of alternative copycat coins filling the list at coinmarketcap.com. You have to take a leap of faith to trust that miners won't change the system once all the 'limited' 21 million original bitcoins have been produced...
- tlrobinson 9y agoUltimately miners aren’t in charge. If miners try to change the rules, but the majority of users ignore them, the miners’ fork will be close to worthless.
- pbhjpbhj 9y agoDoubt you need miners in order to process transactions, how would you do it without any miners?
- Libturd 9y agoare you serious? lulz
- deleted 9y ago[deleted]
- pbhjpbhj 9y ago* Don't Gah, that's a pretty bad typo.
- tlrobinson 9y agoIf the miners are financially motivated and rational they wouldn’t refuse to mine the most valuable fork. They have a large investment in hardware and would lose a lot of money. If for some reason they did refuse, or worse, attacked the network (with double spends or censorsing transactions) then the users could emergency fork to change the proof of work and attract new miners.
- bufferoverflow 9y agoThat's exactly what I mean. Forks of bitcoin are not bitcoin. Though some of them are valued too. The miners can't change bitcoin, unless the community agrees with them. They can only really join or leave with their hashing power. I don't think bitcoin will even exist by the time it's scheduled to be mined completely (100+ years).