3 ms·

Bitcoin to adopt a finite coin supply.

12 points by nullc 13y ago

nullc 13y ago
Mailing list discussion: http://sourceforge.net/p/bitcoin/mailman/message/32174171/ http://sourceforge.net/p/bitcoin/mailman/message/32174171/
wavesounds 13y ago
"This poses obvious problems, however. Prominent among them is the discussion on what to call 1 billion Bitcoin, which symbol color to use for it, and when wallet clients should switch to it by default. To combat this, this document proposes a controversial change: making Bitcoin's monetary supply finite." Haha April fools! ... I hope?
- maaku 13y ago
  Nope! https://github.com/bitcoin/bitcoin/pull/3842 https://github.com/bitcoin/bitcoin/pull/3842
gfunk911 13y ago
I thought the supply of bitcoins was already finite by design, at around 21 million
- nullc 13y ago
  Read the page.
- maaku 13y ago
  Nope! Read the BIP.
broolstoryco 13y ago
This is an april fools joke. Im really getting sick of them.
- nullc 13y ago
  Kinda. Its actually completely earnest, but just presented in a silly way. The april fools joke is that its not a joke.
bct 13y ago
This is a pretty amusing way to document a bug.
maaku 13y ago
For those confused, here's a great summary explanation from user lifeboatz on Reddit (do read the BIP though, it's funny): """ Since these BIPs can be confusing, I'll explain. The way the block reward halving is implemented, the reward is calculated by taking 50 and bit-shifting it to the right by a certain number, which is the block number (height) divided by 210000. So at Block 210000, the bit shift is 1, effectively dividing the block reward by 2, to 25. At Block 420000, the bit shift is 2, effectively dividing the block reward by 4, to 12.5. This works great up to 63. But since there's no specification in C++ as to what to do if you take a 64-bit number and shift it 64 bits, it's undefined. And what happens on many C++ compilers is that they just pass that decision on to the hardware to define it. And in the case of the most popular PC and server equipment, what the hardware does is it doesn't even look at the high order bits of the shifting amount.... so 64 = 0, 65 = 1, 66 = 2, etc. This means that at block number 210000*64, the block reward is currently programmed to be 50 again. Oops. This is an urgent situation that should be addressed within the next 200 years! If miners are alive who could benefit from this, they may not want to change it. """ http://www.reddit.com/r/Bitcoin/comments/21ynmv/bitcoin_should_adopt_a_noninfinite_coin_supply/cghpxiv http://www.reddit.com/r/Bitcoin/comments/21ynmv/bitcoin_shou...
- nbody 13y ago
  A Schrodinger's bug

12 points by nullc 13y ago

nullc 13y ago

Mailing list discussion: http://sourceforge.net/p/bitcoin/mailman/message/32174171/ http://sourceforge.net/p/bitcoin/mailman/message/32174171/

wavesounds 13y ago

"This poses obvious problems, however. Prominent among them is the discussion on what to call 1 billion Bitcoin, which symbol color to use for it, and when wallet clients should switch to it by default. To combat this, this document proposes a controversial change: making Bitcoin's monetary supply finite." Haha April fools! ... I hope?

maaku 13y ago
Nope! https://github.com/bitcoin/bitcoin/pull/3842 https://github.com/bitcoin/bitcoin/pull/3842

gfunk911 13y ago

I thought the supply of bitcoins was already finite by design, at around 21 million

nullc 13y ago
Read the page.
maaku 13y ago
Nope! Read the BIP.

broolstoryco 13y ago

This is an april fools joke. Im really getting sick of them.

nullc 13y ago
Kinda. Its actually completely earnest, but just presented in a silly way. The april fools joke is that its not a joke.

bct 13y ago

This is a pretty amusing way to document a bug.

maaku 13y ago

For those confused, here's a great summary explanation from user lifeboatz on Reddit (do read the BIP though, it's funny): """ Since these BIPs can be confusing, I'll explain. The way the block reward halving is implemented, the reward is calculated by taking 50 and bit-shifting it to the right by a certain number, which is the block number (height) divided by 210000. So at Block 210000, the bit shift is 1, effectively dividing the block reward by 2, to 25. At Block 420000, the bit shift is 2, effectively dividing the block reward by 4, to 12.5. This works great up to 63. But since there's no specification in C++ as to what to do if you take a 64-bit number and shift it 64 bits, it's undefined. And what happens on many C++ compilers is that they just pass that decision on to the hardware to define it. And in the case of the most popular PC and server equipment, what the hardware does is it doesn't even look at the high order bits of the shifting amount.... so 64 = 0, 65 = 1, 66 = 2, etc. This means that at block number 210000*64, the block reward is currently programmed to be 50 again. Oops. This is an urgent situation that should be addressed within the next 200 years! If miners are alive who could benefit from this, they may not want to change it. """ http://www.reddit.com/r/Bitcoin/comments/21ynmv/bitcoin_should_adopt_a_noninfinite_coin_supply/cghpxiv http://www.reddit.com/r/Bitcoin/comments/21ynmv/bitcoin_shou...

nbody 13y ago
A Schrodinger's bug