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brianf0 | 2 years ago

Not the same, BTC can't be created / devalued at will.

discuss

The devs can change anything, it's just software. As long as miners, which are extremely centralized, agree it's the new chain.

I was a part of the bitcointalk forums in 2010 when the dev team created a soft fork that modified the blockchain to change consensus rules. THink about it, devs changed the consensus mechanism, that goes against everything bitcoin is supposed to be. They can do it again

https://en.bitcoin.it/wiki/Value_overflow_incident

Eisenstein|2 years ago

Awesome. That means that the fewer than 0.03% of wallet holders who hold more than 40% of the coins can own everything forever!

Also, it can. See the Ethereum fork and Bitcoin Segwit.

danShumway|2 years ago

No one who has spent any time actually studying the price fluctuations in Bitcoin would ever believe that a fixed currency supply helps with stabilizing coins. Bitcoin itself is probably the best proof that fixed currency supply doesn't help with reducing currency volatility.

kube-system|2 years ago

Which is a not necessarily a good thing. Deflationary assets are not conducive to being used as currency.

zinekeller|2 years ago

We already see some currencies that are valued differently based on the current situation and who holds it, what's the difference with BTC? What safeguards it has that prevents such discrimination?

loeg|2 years ago

BTC is highly volatile and its price is sensitive to voluntary (“at will”) trading.

Spivak|2 years ago

Yeah, I prefer my currency to be valued by Twitter hype.

sjsdaiuasgdia|2 years ago

It can be created at the will of the developers of the software and their ability to influence the community.

Plenty of times the market value of Bitcoin has dropped drastically because one person said or did something.

ursuscamp|2 years ago

Someone saying something that affects the price has nothing to do with creating new Bitcoin. That's just a function of it being a small market still, relative to larger and more deeper capital markets.

If any developers tried to convince anyone to run Bitcoin software that debased their savings, they are going to have a very bad time.

classified|2 years ago

I'd like to have what you're smoking.