• 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

Political Dynamics Threaten Progress of Clarity Act

chest

Scott Bessent warns that the upcoming midterm elections could jeopardize the progress of the Clarity Act, especially if Democrats gain a majority in the House.

user avatarLuis Flores

US Treasury Secretary Advocates for Clarity Act Amid Crypto Market Volatility

chest

US Treasury Secretary Scott Bessent emphasizes the need for the Clarity Act to stabilize the volatile crypto market.

user avatarArif Mukhtar

Bitcoin Market Faces Bearish Phase Amid Price Drop

chest

Speculations arise that the cryptocurrency market has entered a bearish phase following a significant drop in Bitcoin's price.

user avatarMaria Gutierrez

Mixin Network Announces Compensation Plan for Hack Victims

chest

Mixin Network has initiated a debt registration and repayment process for users affected by the September 2023 hack, offering compensation in stablecoins and tokenized claims.

user avatarDavid Robinson

Mixin Hacker Wallet Transfers $385 Million to Tornado Cash

chest

A wallet linked to the 2023 Mixin hack has transferred $385 million to a new wallet, which then sent the funds to Tornado Cash.

user avatarAndrew Smith

Goldman Sachs Invests Heavily in Solana Spot ETFs

chest

Goldman Sachs has made substantial investments in Solana Spot ETFs, totaling approximately $108 million, indicating a growing interest in altcoins and a shift towards broader crypto adoption by traditional financial institutions.

user avatarJacob Williams

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.