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Or more likely.. the Bitcoin developers release a new version that allows for more than 21m coins. I think a lot of people don't realize that Bitcoin is still a
by paulhodge 14y ago
Or more likely.. the Bitcoin developers release a new version that allows for more than 21m coins. I think a lot of people don't realize that Bitcoin is still an actively developed beta-version software project. There are several parts of the code that the devs are already thinking about changing (such as the way that transaction fees are calculated, or increasing the number of times you can subdivide one coin). If the 21m limit becomes crippling, I'm sure they will change that too. Really, they can change anything they want as long as they can convince 51% of pool owners to upgrade.
- wmf 14y agoCan you imagine miners or MtGox voting to devalue their own holdings? I don't think many people are in it for the revolution.
- dragonwriter 14y ago> Can you imagine miners or MtGox voting to devalue their own holdings? I can imagine, if Bitcoin was perceived as a serious currency, nation-states and existing large and wealthy financial institutions investing large amounts in becoming participants in the network. Can I imagine those institutions acting with regard to Bitcoin the same as they act with regard to traditional sovereign currencies? Easily.
- ramblerman 14y agonot quite. The 21m upper limit is one variable that can't change.
- paulhodge 14y agoWould love to hear more details on this; why can't the 21m limit be changed?