• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Bitcoin Split Plans Revealed As Parody

user avatar

by Giorgi Kostiuk

a year ago

  1. Mike Alfred's Parody Post
  2. Community Reaction
  3. Why the Idea is Absurd


    4. A recent parody post by Mike Alfred about splitting Bitcoin has sparked wide-ranging reactions and discussions within the community.

    Mike Alfred's Parody Post

    The Board of Directors of Bitcoin discussed splitting the cryptocurrency 10 to 1 in order to make it more accessible to new investors, according to Mike Alfred's parody post. According to the tweet, this would raise the total quantity of Bitcoin to 210 million coins, replicating recent stock splits by businesses like Nvidia and Chipotle.

    A split would require a hard fork or network-wide consensus, which is practically impossible given Bitcoin's decentralized structure.None

    Community Reaction

    Well-known trading veteran Peter Brandt added some fuel to the fire by tagging Tuur Demeester, a passionate Bitcoin maximalist, and asking for opinions in a lighthearted gesture.

    In a lighthearted gesture to the ridiculousness of the proposal, Brandt asked for opinions.None

    Why the Idea is Absurd

    The idea of a Bitcoin split is absurd for several reasons. First off, such a change would require broad agreement from miners, developers, and nodes. Additionally, the value proposition of Bitcoin as a scarce deflationary asset, which is crucial to its attractiveness and utility, would be drastically altered by changing its supply in this way.

    The gradual reaction to the parody post about splitting Bitcoin highlights the importance of educating newcomers in the world of digital assets.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Bhutan's Bitcoin Initiative Promotes Green Energy Use

chest

Bhutan has been mining Bitcoin since 2019 using green energy, promoting sustainability and influencing global discussions on eco-friendly cryptocurrency practices.

user avatarLeo van der Veen

Bhutan Allocates 10,000 BTC for Gelephu Mindfulness City

chest

King Jigme Khesar Namgyel Wangchuck announces the allocation of 10,000 Bitcoin to fund the Gelephu Mindfulness City project, reflecting Bhutan's commitment to economic growth and youth development.

user avatarKaterina Papadopoulou

Cat in a Dogs World MEW and Dogwifhat WIF Experience Market Fluctuations

chest

Both Cat in a Dogs World MEW and Dogwifhat WIF have seen slight declines in their market prices amid broader market activity.

user avatarMaya Lundqvist

Lucie Introduces SOU Recovery Framework for Shiba Inu

chest

Lucie, a key Shiba Inu executive, has detailed the SOU recovery framework aimed at compensating users affected by the Shibarium exploit.

user avatarLi Weicheng

Bitcoin Breaks Critical Psychological Level with 95,000 Milestone

chest

Bitcoin's breakthrough above 95,000 marks a significant technical and psychological victory for the cryptocurrency.

user avatarAisha Farooq

Market Instability Looms with Possible Iran Action

chest

Concerns about market instability due to potential military action against Iran, with limited direct impacts on cryptocurrency.

user avatarTenzin Dorje

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.