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Darker45
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March 25, 2021, 03:08:13 AM
 #21

The way I understood it, and based on a lot of informative responses above, is that Bitcoin is hard-coded in such a way that tampering with the original code wouldn't change anything but would merely create another one, which is of course different from the original one.

Who knows, in the near future, the fork might appeal more to the huge majority of the population and would become the main currency? But it doesn't mean that Bitcoin was successfully changed from its original design.

So, as to your concern, Bitcoin is indeed ruled by no other but mathematics. You change the math, you are creating another one; you're not effecting any change to that which you supposed to change.

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Kittygalore
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March 25, 2021, 03:10:26 AM
 #22

Will satoshi lie to the users that bitcoin has a 21 million limit? I don't think so because that was what satoshi wanted. And those bitcoins that you say is going to be generated outside the 21 million is bitcoin fork which only has a value because you have a lot of followers that believes that it has a value. If you think that changing bitcoin is as easy having a consensus then it should have changed a long time ago, not to mention that it will be difficult for every user to agree on something because we form our own opinions and some of them will disagree.
cryptoaddictchie
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March 25, 2021, 03:42:27 AM
 #23

Bitcoin is limited and humans won't reach a consensus of enlarging its number. when bitcoin's amount rises, bitcoin is not bitcoin any more Lips sealed
There is no way to change it. It was set to 21million and that's gonna stay until the end. Unless Satoshi somehow become active and decided to do some redomination and changes on the tokenomics. But as you can see on the previous discussion there is a reason why there are only 21million coin of bitcoin and this number signifies factor and not just Satoshi favorite number.

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arcmetal
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March 25, 2021, 04:50:26 AM
 #24

One of Bitcoin's main strengths is it's historically unchanged and predictable supply schedule, as well as the max supply cap. You do realize though that changing the max supply totally invalidates this core characteristic, right? Not a single Bitcoiner in the right mind would support such change.
This topic does seem to be getting posted an unusually number of numerous times.  By some newbies.  I suspect there is an ulterior motive to spread fud. 

https://bitcointalk.org/index.php?topic=5320980.msg56469193#msg56469193

https://bitcointalk.org/index.php?topic=5322436.msg56517591#msg56517591

They may think that if they can interject a conversation about somehow changing bitcoin's hard limit, they would have succeeded in killing off bitcoin, or at least trying to kill off bitcoin.

But as you point out mk4, no bitcoiner would do anything to reduce the value of what they are holding.  So this exercise is folly.

Findingnemo
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March 25, 2021, 09:00:19 AM
 #25

I don't conceive it possible coz I'm a bitcoin admirer as well as its believer, Satoshi is my god and god's intention cannot be changed. provided that someone is here to change the amount of bitcoin, then maybe Satoshi will land and forbid it. Bitcoin is limited and humans won't reach a consensus of enlarging its number. when bitcoin's amount rises, bitcoin is not bitcoin any more Lips sealed
Anyone can change the codes because now everyone can learn about the blockchain and build their own. But it cannot be the original bitcoin that is what the blockchain and decentralization is about so yeah God is unique.

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DoublerHunter
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March 25, 2021, 09:24:04 AM
 #26

I don't conceive it possible coz I'm a bitcoin admirer as well as its believer, Satoshi is my god and god's intention cannot be changed. provided that someone is here to change the amount of bitcoin, then maybe Satoshi will land and forbid it. Bitcoin is limited and humans won't reach a consensus of enlarging its number. when bitcoin's amount rises, bitcoin is not bitcoin any more Lips sealed
Anyone can change the codes because now everyone can learn about the blockchain and build their own. But it cannot be the original bitcoin that is what the blockchain and decentralization is about so yeah God is unique.
^ Yes, you are right that they can modify the code because that is open source code but no way that they can change it. If that will happen, it will change everything and should accept by everyone. BTC code should not change because it will create a conflict to the network that against by the users and the miners of BTC, if that will change, it will change everything. That is why we have different forked coins to BTC, they created a network that similar to BTC but actually not the same when we talked decentalization.
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March 25, 2021, 10:51:11 AM
 #27

People always say "bitcoin has a hard coded, guaranteed limit of 21 million coins".

However, I think the limit of 21 million is subject to the consensus of the users and miners?

So if a consensus is formed to allow more than 21 million Bitcoins to be generated, then it will be so, right?

Actually everything in Bitcoin can be changed, as long as there is the consensus for it.

So, there is actually no mathematical limit to the number of coins. It's just that the issuance of coins is not subject to a central authority, but requires a supermajority consensus.
You could possibly propose any change through BIP and if the majority of the network accepts it considering it is beneficial for Bitcoin network,they will.make changes in the code on GitHub.But the miners will never make the 21 million limit to increase because it's the main algorithm setup by Sathoshi.If they had to increase the limit they need to make changes in overall mining algorithms and block intervals.The other reasons is that the prices are increasing due to limited supply of 21 million and miners will not be willing to decrease their profit shares in the long run as increase in supply will lead to price falls.The bugs in Bitcoin had been removed but no huge changes are made in the open source code for Bitcoin.The 51% miners will need to accept the proposal which is impossible in this case.

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ranochigo
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March 25, 2021, 10:59:54 AM
 #28

You could possibly propose any change through BIP and if the majority of the network accepts it considering it is beneficial for Bitcoin network,they will.make changes in the code on GitHub.
Whatever the majority of the network says doesn't matter at all. BIP is used to propose changes with detailed technical outlines and gives the opportunity for others to critique and refine the proposal as well. That is why you have various stages of drafting, finalizing, etc. The code merges are not limited by the people that opposes it, if so then Segwit would have never been included at all. Miners showed little support and there was an obvious rift that formed in the process.
But the miners will never make the 21 million limit to increase because it's the main algorithm setup by Sathoshi.If they had to increase the limit they need to make changes in overall mining algorithms and block intervals.The other reasons is that the prices are increasing due to limited supply of 21 million and miners will not be willing to decrease their profit shares in the long run as increase in supply will lead to price falls.The bugs in Bitcoin had been removed but no huge changes are made in the open source code for Bitcoin.The 51% miners will need to accept the proposal which is impossible in this case.
Miners do not need to adopt the changes. If the nodes want to enforce the rules, the miners either follow or just continue mining on their own fork without the included change. That being said, it is not that miners are not important but they're far from the main stakeholders in issues like this where the community would be affected as well. Mining algorithm will not change, block intervals need not change either.

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MuffinMaster
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March 25, 2021, 02:25:53 PM
 #29

AFAIK bitcoin blockchain is designed in a way that there will be maximum 21 million bitcoin that will be generated ever and last bitcoin will be mined in 2140. Nobody can alter this supply of bitcoin, even satoshi himself can't do that.

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