3 ms·
Just to counter the knee jerk “but it’s actually digital gold!” reaction of Bitcoin holders: One big reason Bitcoin can’t be “digital gold” is because humans do
by hudon 5y ago
Just to counter the knee jerk “but it’s actually digital gold!” reaction of Bitcoin holders: One big reason Bitcoin can’t be “digital gold” is because humans don’t control the natural supply of gold. Humans, however, control the supply of Bitcoin. The “21 million limit” is just a meme that’s currently implemented in the code that the network has consensus on, but that limit can change if the influencers in the space see fit to it and the herd follows along.
- j0ba 5y agoThen it would be a fork of bitcoin (and therefore not bitcoin). Everybody who already owned a bitcoin would also own the equivalent amount in the forked coin. This already happened in 2016 with bitcoin cash.
- hudon 5y agoYou don’t get to choose which cryptobean keeps the name, the market does (see 2016 fork, and 2013 fork).