Topic: What if someday Bitcoin Foundation votes to remove 21M limitation? - page 7. (Read 6094 times)
June 03, 2014, 05:20:00 PM
TBF holds a sizable amout of bitcoin. Its board members and corporate members have hugh vested interests in bitcoin. They know that raising the 21M limit will devalue their bitcoin holdings. TBF will not be stupid enough to vote for an increase in bitcoin supply.
June 03, 2014, 05:19:05 PM
My fucking god. The Bitcoin Foundation has no power. Realize that.
Let's say that at some point when big players enter the game, the foundation starts gaining the power. How about that?
June 03, 2014, 05:17:54 PM
Then the world would laugh and quietly ignore such nonsense.
But worry not, such craziness won't occur. It's not under anyone's control except consensus of the community.
Even if the core devs vote to remove the 21M limit, it still won't make it so.
But worry not, such craziness won't occur. It's not under anyone's control except consensus of the community.
Even if the core devs vote to remove the 21M limit, it still won't make it so.
But big investors already articulated their interest: they want BTC to be inflatable. Reasonable, but inflatable. Something like: yes, BTC is great, innovative technology, but in order to make it useful international currency, it needs to be inflatable. Say, 1-5M bitcoins a year. The general population ("the community") will eat this no problem. Early adopters will be pissed off for sure, but they are in minority.
June 03, 2014, 05:15:19 PM
My fucking god. The Bitcoin Foundation has no power. Realize that.
June 03, 2014, 05:11:19 PM
The community would never allow it. Part of the sheer brilliance of the protocol is that it requires consensus.
June 03, 2014, 05:09:53 PM
Then the world would laugh and quietly ignore such nonsense.
But worry not, such craziness won't occur. It's not under anyone's control except consensus of the community.
Even if the core devs vote to remove the 21M limit, it still won't make it so.
But worry not, such craziness won't occur. It's not under anyone's control except consensus of the community.
Even if the core devs vote to remove the 21M limit, it still won't make it so.
June 03, 2014, 05:05:14 PM
yes, 100% possible
June 03, 2014, 05:03:24 PM
Say, at some point big banks and hedge funds make an agreement with core developers to remove the limitation of 21M and have the foundation vote for this?
Is it possible in theory and on practice?
Is it possible in theory and on practice?
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