Alteration of bitcoin 21M cap: Is it possible, necessary or needless?

[hugeblack]

This discussion reminds me of Strange block 74638^[1] AKA CVE-2010-5139 where 92,233,720,368.54277039 BTC was generated and bitcoin blockchain need a hard fork. Therefore, the only constant in the history of Bitcoin is 20,999,999.9769 BTC, and as long as that does not change when the market capacity of Bitcoin was not 100 billion and it was not so famous, it will not happen in the future or when it has a high value.

Therefore, it is true that Bitcoin will not reach 21 million, and we will not see anything like this in the future. The greatest danger is to create currencies less than Satoshi, which may happen if the value of Bitcoin is very large (we may not see this in 70 years).

[1] https://bitcointalk.org/index.php?topic=822.0

[1715182477]

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[kryptqnick]

Even if it's technically possible, I don't think it'll ever be done because that's simply too much, the majority of those whose opinions count on this one will be certainly against it. I think the desire to alter the total supply also comes out of wrong intentions. Some people feel greedy and worried that they won't get enough BTC because it's just 21 million total. Some are genuinely concerned that 21 million isn't enough, but that, IMO, is an uninformed opinion because Bitcoin is greatly divisible into sats, so the total supply isn't actually small.
To sum up, I think it's practically impossible and completely unnecessary to try changing the supply.

[ZAINmalik75]

What do you have to say about a sudden alteration of the bitcoin 21 million cap perhaps in the future. Do you think it should ever be increased ?

No, honestly BTC's supply is already been fixed at the moment of creation which indicates if alternation of supply is made then it will go against the words and trust of BTC which people had in it. People like me think of it as a scam.

But do not worry, It will not come to that. As supply is already fixed and can not be altered and that proves BTC has the scarcity factor which people needed. I just read a post about stabilizing the BTC. Op was suggesting mass adoption is only possible if BTC would be stabilize. Technically that's not possible and also not possible to change the supply but point is people look at the fluctuations made in btc price and they do not wants BTC to be stabilize instead they look at the factor of scarcity to analyze and make up there mind. Or I can say, they comfort theie hearts that everything is alright and in the long run due to scarcity BTC price will make huge jumps and will set new ATH.

What would an increment mean to you? And can an alteration of the supply limit spell a disaster as some opined?

YES, it would be disasters for all of us as people will lose hope and started to think of it as some kind of world biggest phishing scam ever. But as I said before nothing to be worry of things are not going to reach at that point of inevitable.

[Mpamaegbu]

What do you have to say about a sudden alteration of the bitcoin 21 million cap perhaps in the future. Do you think it should ever be increased ?

Whatever that alters Bitcoin's maximum supply of 21 million (whether in reduction or in increment) will destroy the staggering trust it has gained. The trust people have in Bitcoin stems from the assumption that it can't be tampered with. Once anything tampers with it, I trust the media to run with it on end. Again, there will be a classification of it being the same as the rest of the altcoins that can easily be manipulated. The panache it carries will die off instantly. To your second question, I say no.

What would an increment mean to you? And can an alteration of the supply limit spell a disaster as some opined?

As answered above 👆

[Lucius]

The 21 million maximum supply cap is one of Bitcoin's biggest strengths — the fact that no one can print more than that limit. Removing the supply cap goes against one of Bitcoin's strengths so I totally doubt the masses would support this in the first place even if some people are for it.

Also, screw Bitcoin dot com.

When you see the source of the news, then you are not at all surprised that someone is even discussing it as something that should be questioned at all. Although we who do understand some things a little better understand why that 21 million is so important, we should also keep in mind that there are those who would very much like to see that number change to more for various reasons.

Some would want it because then the price would drop drastically and then they could probably buy one whole BTC and then they would wonder why the price would never go up again - some others want it just so that one of their crypto kings would ascend to the throne and to profit.

In fact, there are many so-called Bitcoins (forks) that have a much higher max supply, but there is no need to say how successful they were with these changes.

[Ucy]

Printing more coins than is necessary is a fiat thing and is a way of weakening the Store of Value feature of Bitcoin and making the stored bitcoins of the Bitcoin Community worth-less. You'll need the members permission to do that and make sure they are aware of the implications of what you are trying to do. Whoever does that will be devaluing users stored bitcoins or robbing them, probably to fund something or pay miners more bitcoins. If you print more money than is necessary you are indirectly stealing from others because the purchasing power of their earn/saved money is weakened.

You only could consider that if Bitcoin is too scarce and hard to find or hard to divide(due to divisiblity issue).

[Fivestar4everMVP]

For me, I think alteration in the Bitcoin 21 million total and max supply will rather spell doom for Bitcoin and the entire crypto currency market, though I believe it's not possible to alter the Bitcoin supply to reduce or increase it without a hard fork, but going by the fact that issues like this have resulted in several hard forks in the past, and the original bitcoin is still standing strong while other forked coins are all struggling to survive, tells everyone of us what the result of hard fork resulting from such issue may likely be .

Bitcoin supply is perfect the way it is, I don't see any need to want to increase it, this was if it was even possible to do without a hard fork as I have said above , but then, I am happy this is not possible , and even if they fork Bitcoin again because of this issue, the original bitcoin will remain the king .