• NotMyOldRedditName@lemmy.world
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    4 months ago

    Wtf are you even trying to say.

    To make a change to the protocol, you need 51% of the miners to agree and implement it when blocks are mined.

    But 51% of the miners isn’t enough because the users themselves can also revolt and fork away, which would destroy the price.

    To add a 0, you’d need a massive (*super) majority buy in from all sides.

    How much bitcoin anyone owns, even if someone owned 100% of it, has absolutely no bearing.

      • NotMyOldRedditName@lemmy.world
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        4 months ago

        Then enlighten me, what does

        Since the economic system gone fully electronic there is nothing which can stop adding another 0.

        What are they adding the 0 to? Why does it have to be with our system being electronic?

        • TheBigBrother@lemmy.world
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          3 months ago

          An electronic system it’s easier to manipulate and it’s infinite, so if you thought capitalism will fall like Marx said, you are pretty wrong nowadays, capitalism it’s virtually infinite.

          • NotMyOldRedditName@lemmy.world
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            3 months ago

            And how exactly does that allow you to electronically manipulate bitcoin to a virtually infinite amount?

            I’d love to know how you plan on creating more than 21 million bitcoin or altering your bitcoin balance.

            • TheBigBrother@lemmy.world
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              3 months ago

              You don’t need to control Bitcoin, you just need to control the market.

              If you control the market you control the price. You can add 0 or quit 0.

              • NotMyOldRedditName@lemmy.world
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                3 months ago

                An electronic system it’s easier to manipulate and it’s infinite

                But Bitcoin isn’t infinite.

                How exactly are you going to control the market to the point that you can infinitly manipulate it because it’s electronic?

                Our fiat system is, it can be inflated as much as they want. Someone just presses a button on a machine and bam, there’s another billion dollars in circulation.

                Edit: I saw your edit late. Do pray tell how you can make Bitcoin easily be $560,000 USD because it’s electronic.

                • TheBigBrother@lemmy.world
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                  3 months ago

                  Bitcoin isn’t infinite but Bitcoin value is, if you control the market of Bitcoin(you have a lot of it) you can control the offer and demand of it selling or buying big amounts, that way you can add or quit 0 WO having to modify the amount of bitcoins on the market. As it is an infinite divisible currency you can always buy or sell fractions or units of it, so it doesn’t matter how much Bitcoins are out there the important thing it’s the value.

                  • NotMyOldRedditName@lemmy.world
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                    3 months ago

                    Well, your claim is because it’s electronic nothing is stopping adding a 0.

                    If you owned 100% of something, you can demand any price you want, but it doesn’t mean people will be willing to buy it at the price, and if has exactly nothing to do with being electronic.

                    Whales can throw their weight around to try and manipulate the price, but they ain’t making it 560,000 USD or 5,600 USD at a whim. If they could they would.