Possibility of hard fork to increase bitcoin supply cap of 21m

salihno71

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Quote from: DevelopmentBank on August 29, 2017, 08:51:54 AM

Once we get closer to 2021, is it possible that this happens?

No. This would basically become altcoin. I think by 2140 (when last bitcoin will be mined) there will be some level 2 structure in place like Lightning network which will bypass the problem of limited supply.

Jet Cash

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https://JetCash.com

I see another one of my comments has been picked up.

So here is one way that you could increase the supply of Bitcoin without devaluing it. How about varying the difficulty to match the value of Bitcoin instead of hash power. This would introduce stability into the currency, and allow the pool of Bitcoin to grow with increasing demand.

makulo123

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Will the hard fork in November devalue the price of Bitcoin? Just asking, because I would like to increase my bitcoin holdings by a lot of money.
Thanks for answer.

Kprawn

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Why would someone invested in Bitcoin willingly want to devalue their current coins by adding coins onto the coin cap? No

person in his right mind will agree to that. The scarcity of the coins help to increase it's value... by adding more coins, you

would effectively devalue your investment. We cannot even reach consensus on Block sizes... how would we ever agree on

increasing the coin cap?

NavySeals

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Quote from: Emoclaw on August 29, 2017, 09:11:22 AM

It's possible for a hard fork to increase Bitcoin's supply. It will NEVER EVER happen, nobody wants it.
The supply is projected to end in 2140, not 2021 (in case you're confused). At which point more fractions will be added to account for the substantially increased value, that is very easy to do.
If a Satoshi has a value of $1, a sub-satoshi could easily be added, having a value of $0.10.

As we heard from the expers, there is a code in bitcoin which prevents this from happening. I'm not sure if it's correct, but I don't think bitcoin developers will do this. A pump in bitcoin total supply would result in tragedy.

Emoclaw

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It's possible for a hard fork to increase Bitcoin's supply. It will NEVER EVER happen, nobody wants it.
The supply is projected to end in 2140, not 2021 (in case you're confused). At which point more fractions will be added to account for the substantially increased value, that is very easy to do.
If a Satoshi has a value of $1, a sub-satoshi could easily be added, having a value of $0.10.

FlightyPouch

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Quote from: DevelopmentBank on August 29, 2017, 08:51:54 AM

Once we get closer to 2021, is it possible that this happens?

I too, don't think that bitcoin will be making an addition to it's supply. It will be having a great effect on the price and also not only the price but also the users too. I think what will become closer at that year is the great solution to the problem of bitcoin we are experiencing right now and maybe, an altcoin tailing the price of bitcoin.

DannyHamilton

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Quote from: DevelopmentBank on August 29, 2017, 08:51:54 AM

Once we get closer to 2021, is it possible that this happens?

Why 2021? What's so special about that year? Why not 2018? or 2102?

stompix

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Blackjack.fun

The moment the bitcoin cap is increased bitcoin is dead.
Dead and nobody will bother reviving it.

It will turn into a digital fiat money printing guaranteed to fail scheme.
Having a hard cap at 21 million is BTC strong point. And main reason it has reached this price and the fame, usage and user base around the world.

You can fork the chain to create an unlimited bitcoin or an inflation coin but nobody will use it.I hope...

fisheater

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Quote from: DevelopmentBank on August 29, 2017, 08:51:54 AM

Once we get closer to 2021, is it possible that this happens?

I don't think so, this will greatly devalue the bitcoin should that happen. Though it is not ruled out, it is very unlikely.

DevelopmentBank

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Once we get closer to 2021, is it possible that this happens?

Topic: Possibility of hard fork to increase bitcoin supply cap of 21m (Read 329 times)