• Quick note - the problem with Youtube videos not embedding on the forum appears to have been fixed, thanks to ZiprHead. If you do still see problems let me know.

Merged Bitcoin - Part 3

latest crypto scam news


class action lawsuit against drake, adin ross, other celebs and influencers and the crypto casino stake allege an underground online crypto gambling ring to the tune of $38b, part of which was siphoned off to fund bot farms to boost drake’s spotify numbers.

www.comicsbeat.com

Logan Paul's controversial ultra rare Pikachu card goes up for auction

Logan Paul’s ultra rare Pikachu Illustrator PSA 10 card is going up for auction but questions over ownership of the card remain
www.comicsbeat.com www.comicsbeat.com

meanwhile logan paul’s scam company liquid marketplace rips fans off in his tokenized pokemon card ownership scheme. basically his company liquid marketplace divides up ownership of collectibles and other nonsense and sells pieces of it, kind of like a timeshare you could never visit. well he sold 51% of it at $2.5m then sold it to himself for $250k, then kept the all the money anyway, then acted like he had no idea who ran the company and was trying to help the fans he ripped off.

of course he’s still going through all his crypto zoo stuff, the crypto game he sold a bunch of tokens for and then never released and kept all the money and tried to act like he was helping
 
dirtywick said:
can you freely trade with new crypto with bitcoin?
Click to expand...
A Bitcoin transaction will only allow inputs from other transactions that are already on the same block chain. Obviously you can trade Bitcoins with other crypto coins that have different block chains, but that would require a transaction on both chains: one on the BTC chain to transfer the BTC from one person to the other and the other on the other chain to transfer the OtherCoin in the other direction.

The Bitcoin software can be changed but only if the majority of BTC mining power agrees.
 
psionl0 said:
That's an "if pigs could fly" argument. There will never be a consensus to change the total number of bitcoins in existence nor the formula for the rate at which bitcoins are unlocked.
Click to expand...

Imagine if most of the mining got concentrated in one large nation state - let's call it Hacin, which is possible. That state might provide subsidies for people doing mining e.g. free electricity.

Then one day, the government in Hacin, announces that all mining operations are nationalised and the means of mining are seized by the state.

Not san impossibility in a timeline where people are seriously talking about the USA invading a NATO ally.

psionl0 said:
Googling clearly didn't help you understand anything.
Click to expand...
I've done my Googling. I understand the mechanics. Do you?
 
jeremyp said:
A Bitcoin transaction will only allow inputs from other transactions that are already on the same block chain. Obviously you can trade Bitcoins with other crypto coins that have different block chains, but that would require a transaction on both chains: one on the BTC chain to transfer the BTC from one person to the other and the other on the other chain to transfer the OtherCoin in the other direction.

The Bitcoin software can be changed but only if the majority of BTC mining power agrees.
Click to expand...

just as a thought exercise, in the circumstance in which you can copy the bitcoin source code exactly, and you can trade between ledgers, what makes one bitcoin worth more than another? my guess is the ledger entries are really the only thing different between the two.
 
dirtywick said:
just as a thought exercise, in the circumstance in which you can copy the bitcoin source code exactly, and you can trade between ledgers, what makes one bitcoin worth more than another? my guess is the ledger entries are really the only thing different between the two.
Click to expand...
Suppose that a small group of miners gains a majority of the mining power for bitcoin and decide to create bitcoin_plus - a variant that has more bitcoins and greater block rewards. This can be done by changing the source code. They can certainly add new blocks to the existing blockchain but only the modified software (for mining and for wallets) will recognize these new blocks.

But what about the original bitcoin? Well if this group migrates en-mass then the other miners will be able to continue mining and add their own blocks created by the original software to the existing block chain. Therefore you have two forks - effectively two separate cryptos.

And what of the majority of bitcoin holders? Will they switch to bitcoin_plus - a new crypto whose mining is more or less monopolised by a handful of miners and whose value is likely to be lowered by the increased supply or will they stick with the software for the existing bitcoin?
 
You must log in or register to reply here.

Back
Top Bottom