The video released by BlackRock on the 17th stated that "Bitcoin's supply is fixed at 21 million, and hard-coded rules control the supply and purchasing power.
"This will prevent potential abuse of issuing currency recklessly," he explained. However, at the same time, he also included a disclaimer that "there is no guarantee that Bitcoin's 21 million supply limit will not change."
The video features MicroStrategy chairman and Bitcoin advocate Michael Saylor.
In a post shared by Yahoo! News and Entertainment (@Yahoo!News) on Twitter, some critics have argued that Bitcoin is not theoretically scarce. Bitcoin’s fixed supply is what makes it so attractive as a store of value.
This is one of the forces at play, and if the supply cap is lifted, it could have a major impact on how investors view the cryptocurrency.
Joel, Director of Marketing and Business Development at Dashpay
"If the supply cap is raised, we will argue, 'This was part of the plan all along,'" Valenzuela said.
" He criticized the fact that "there are people who claim that as of 2024, Bitcoin has not been stolen."
Anonymous Ethereum developer Antiprosynthesis said: “BlackRock
"The Bitcoin community understands Bitcoin better than Bitcoin users," he added. According to Cointelegraph, whether Bitcoin's supply cap can be changed depends on how Bitcoin is used.
"It all depends on how you define it," Bitcoin Developer Super Testnet said.
Some are node operators, core developers, good and bad miners, investors, etc.
Theoretically, change is possible if multiple community members agree to proceed with a hard fork to move to a new chain.
Developers will first solicit community discussion before implementing rule changes in Bitcoin Core.
It is likely that the group will put forward a proposal to change the rules and see where the consensus is. After that, a hard fork will take place and community members will decide whether to adopt the new ruleset.
If the majority of node operators and miners support the new fork and gain an advantage in market share and hash rate, they will be the first to decide whether to create a new bitcoin with no supply cap.
The Super Testnet will operate a Bitcoin network. However, while that is possible, some argue that such a chain would no longer be "Bitcoin".
Referring to the Bitcoin white paper, he said, "The inflation cap is the defining feature of Bitcoin, and if you remove it, what's left is no longer Bitcoin. Rather, Bitcoin
"It would be better to discuss whether we can change the inn to PayPal."
2024/12/19 14:23 KST
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