Zcash Co-Inventor: ''Capping the supply of Bitcoin at 21M doesn't make sense"

[sergiorus]

A screenshot in case it gets deleteted later.

Original link: https://x.com/EliBenSasson/status/2074434340478468320


So, this is the reality of Web3 nowadays. Even big and respected founders are too busy spending their hundreds of millions dollars they extracted from VCs and the market, they get absolutely detached from why people got interested in what they were building to begin with.

I don't know what had to happen inside the brain of one of the main crypto pioneers to propose 4% yearly inflation for BTC's supply.

IDK, maybe when all your worries are how to spend the 9 figures venture capital funds gave to you and how to sell all your tokens before they go to zero you lose the capability to hold on for a moment and think about what was all that initially created for...




And just for what it's worth, let's take a look at the person's latest venture:

StarkWare (ZK L2 blockchain developer. Total fundraising: $287 Million Dollars. [1]

Its token STARK's performance: down 99.3% from the ATH. [2]


Gee, a multi-millionaire wants people to stay poor.... That has never happened before!


[1] https://tracxn.com/d/companies/starkware/__ioycWpf8SqXDW_N6JDZs4qBOQpE1u5vMggyEiIooDvg
[2] https://www.coingecko.com/en/coins/starknet

[_act_]

This is one of the stupidest post that I have seen on X if he wants bitcoin supply to be increasing. If 20 million BTC was lost in the past, the remaining 1 million BTC is enough. It will be in a way that bitcoin will be more scarce, its price will increase and sats the smallest unit of bitcoin will worth more than what it is today.  21 million BTC is enough.

[sergiorus]

This is one of the stupidest post that I have seen on X if he wants bitcoin supply to be increasing. If 20 million BTC was lost in the past, the remaining 1 million BTC is enough. It will be in a way that bitcoin will be more scarce, its price will increase and sats the smallest unit of bitcoin will worth more than what it is today.  21 million BTC is enough.

Actually it could be that he's pushing the Overton Window [1] for some very powerful group (he could be a part of it, given how rich he's).

At their level it's not about increasing their networth, it's about keeping the masses poor and/or incapable of fighting inflation.



[1] https://en.wikipedia.org/wiki/Overton_window

[Lucius]

No matter how much someone appreciated some of his projects, we now see that he is just another one of the masses of shit coin/token creators looking for a little visibility to promote some new project that will earn them new millions.

For all those who have a similar opinion, there is a very simple solution - given that Bitcoin is open source and there is a possibility to clone it (make a fork), make your own version and set the max supply as you want.

The 21 million max supply is something that should never be touched, at any cost.

[5W-KILO]

Why would he think this way?  

I am not very smart but this is stupid way of thinking.
Time is infinite but I have things that originally belongs to my grandparents with me.

They passed away and left few things that me and my family are all benefitting from.
If Bitcoin recovery was one of those things we will still get it, not lost.

Lost one at 102yrs old and the wife at 87yrs old, we still have lands that belong to them originally, the old iron pots, the clave pots, two old hunter rifles.
That's life over 100+ years ago, if Bitcoin was 100+ years old and my grand father kept his keys safe we would all be benefiting from it today.

[IjawMan]

Is Bitcoin fiat money? This totally one of those bullshit posts you will see on X trying to poke a fault on bitcoin that needs to be fixed.

He is neglecting the purpose of Satoshi building Bitcoin and this has been the limitation of centralize project developers,  in dew course, they have the habit of forgetting the vision and purpose of their project.

The limited supply of bitcoin may not be the only reason Bitcoin has gained wide adoption from all works of industry, ^{private and public} but it's ultimately what has sustained value for Bitcoin.

[Die_empty]

This is one of the stupidest post that I have seen on X if he wants bitcoin supply to be increasing. If 20 million BTC was lost in the past, the remaining 1 million BTC is enough. It will be in a way that bitcoin will be more scarce, its price will increase and sats the smallest unit of bitcoin will worth more than what it is today.  21 million BTC is enough.

I was just trying to understand the reason for his suggestion to increase the Bitcoin cap. It doesn't sound too reasonable to me. Gone are those days when people are careless about their coins or wallet. The worth of Bitcoin has made people treat it as gold that is safely kept. I don't think that we are having the issue of lost coins the way it was when Bitcoin was unpopular. So I am not sure there will be a time when all keys would be lost.

Remove the 21 million coins cap on Bitcoin, and it would turn into another shitcoin. This feature is what makes Bitcoin different from others.

[aoluain]

I disagree with him, capling to 21 million makes sense and its one if the big plus factors of Bitcoin.

With a capped supply everyone should be very mindful of protecting and securing their coins because
as time goes on your Bitcoin becomes even more valuable and scarse ^{he's right in that regard}

A clear monetary policy means people would be involved in making decesions on supply . . . doesnt
that sound familiar? and isnt that EXACTLY one of the reasons Bitcoin is alive today?

[Kalchef]

Time will surely be lost but not your private keys, unless you don't have a offspring that can operate your Bitcoin wallet after you died, we have children for a reason, to continue where we stopped.

All keys will be lost only if Bitcoin holders stop giving birth, LMao
What a big idiot indeed.

[Rashlyowl]

I really wouldn't have guessed that was typed by someone in crypto. I’ve been sharing information & educating some of my broski in our hangout group about BTC & its future potential, even though I’ve laid it all out for them, there are still a few who haven't been persuaded to invest in BTC. Given all that, I think it means not everyone has to get into BTC (due to a lack of interest or ignorance). An annual inflation rate of 4% would make BTC less scarce, it would become like gold, which continues to be mined to this day.

[Dunamisx]

What else do we expect from them than to attack and also conspire with others against bitcoin network just to make everything not to appear the exact way it should, remember this thing people are once with us before they left, bitterness of zero achievements is much enough a frustration, so if they are saying all this, I don't think anyone of what should be moved at all as long as we are used to the Bitcoin network and knows what it is all about.

[PostQuantumBTC]

What else do we expect from them than to attack and also conspire with others against bitcoin network just to make everything not to appear the exact way it should, remember this thing people are once with us before they left, bitterness of zero achievements is much enough a frustration, so if they are saying all this, I don't think anyone of what should be moved at all as long as we are used to the Bitcoin network and knows what it is all about.

What the man said is very wrong but the man did not attack the bitcoin network, he only said bitcoin supply supposed to be increased instead of having limited supply which inalso found to be very wrong. This is how people are and a very good reason people should use their brain and not just take advise from people. Someone can be rich and still be saying something that is very wrong, a good example of such a person is this man.

[rat03gopoh]

He simply stated his hypothesis that if Bitcoin had a different ideology, changing the supply rules wouldn't necessarily maintain public interest. In fact, his altcoin also has a limited supply. The message in the genesis block isn't just random text; it's been seen as a symbol of opposition to traditional monetary policy.

[PrivacyG]

'As time goes to infinity'

I sure do hope ten thousand years from now humanity will advance enough to find a better Currency than Bitcoin.  It would be sad if by that time people will be still stuck with Bitcoin, X, iPhones and Dollars.

[Wiwo]

What do you expect from web3 developer and a founder a shitcoin who's price have dumped almost 99%.

He can't give what he doesn't have and the level of his knowledge can be seen in the performance of his projects, is obvious his ideology about suppliers in bitcoin is opposite that if most others.

He may be seeing an advantage in future inflation reactions on the global economy for bitcoin but he failed to noticed the foundation at which cap bitcoin supply brings to the network.

[bitbollo]

there is a clear interest to push further this kind of narrative, as already declared by some ETF Issuer.
It's interesting becausein the future this can become a "fork war" or we don't know how further this can go by pushing other changes adaptions on protocol.
Not surprise at all... this is "their business" they will never care about bitcoin and WHY has been invetend.
All these businesses are just trying to collect as much (FIAT) as they can.

[ROCterm]

Some people are still missing the point.
This person is not dumb, he is simply acting dumb for dumb people to start feeling like they are smart afterall.

Think about it, this works all the time, strictly on dumb people who would believe him.
There is always a audience out there if targeted correctly.

This calling is for the dumbs, not for people on this forum lol.

[Ambatman]

Well this is why he invented Zcash and not Bitcoin
This is the beauty of decentralization or this one would have just gone with this thoughts.
It's inevitable that more Bitcoin would be lost as time goes on but 21 million is among Bitcoin core
Not to mention a bitcoin is a 100,000,000 satoshi
Multiply by 21M and that's alot of zero.

[lionheart78]

That statement was his opinion, and everyone is entitled to their own.  If we do not like such a personal opinion, we can just skip it and ignore it. I believe  Zcash Co-inventor's opinion has little to no chance of being acknowledged by the Bitcoin developers.

I wonder why he is meddling with the Bitcoin business when he has a lot of things to attend to on fixing present and future glitches of his Zcash.  Rather than poking his nose to Bitcoin business, I think it is wiser for him to focus his energy and ideals on his coins.

[Shinpako09]

His argument is the one that doesn't make sense. BTC's price wouldn't be where it is today, and its future price would be greatly affected if the supply cap were increased.

If he really believes that, maybe he should apply the same logic to Zcash and see for himself what would happen to its price if the supply kept increasing. There's a reason Zcash also has a maximum supply of 21 million coins, it was inspired by Bitcoin.

So now he wants the coin it copied from to increase its supply cap while keeping Zcash's supply unchanged? Lol. For what? Does he really think he can replace Bitcoin?