I'd rather use smaller fractions of satoshis instead. I think the limited supply of BTC now became a very powerful psychological thing and having the supply suddenly turn into billions of BTC might do more bad than good, considering supply is one of the reasons some people are here.
Smaller fractions of satoshis is about the same thing as having more supply, without having to think "oh, now we have more BTC!". If Bitcoin ever gets to $100k or more, I personally believe this will become a problem not just for miners, but for everyone else.
Topic: Will the need to increase BTC's max supply arise in the future? - page 6. (Read 790 times)
Well, bitcoin max supply will remain 21 million and it will always the same as what Satoshi created that code, --unless if you will change the bitcoin code and protocols just to increase the supply. Bitcoin miners will always incentives because of transaction fees, the more active on trading the more transactions will be made by those miners. Bitcoin won't work without miners and miners won't incentives if there are no transactions and perhaps that is enough to sustain the miners' work and also we are paying high fees. Remember that when there is bull run bitcoin fees will also bullish.
I think Bitcoin can live with the 21 million supply, I think we have enough:
https://www.btcsatoshi.com/
And technically the supply can be increase, but it will require a consensus that everyone needs to agree, because you need to change the code. And then we will have to see another hard fork.
But we have to understand the very simple principle of core value of Bitcoin, limited supply, which gave it a deflationary throughout, until the very last BTC is mine.
Quote
Predefined Values:
Click the Satoshi value below to use that value above.
1 Satoshi = 0.00000001 ฿
10 Satoshi = 0.00000010 ฿
100 Satoshi = 0.00000100 ฿ = 1 Bit / μBTC (you-bit)
1,000 Satoshi = 0.00001000 ฿
10,000 Satoshi = 0.00010000 ฿
100,000 Satoshi = 0.00100000 ฿ = 1 mBTC (em-bit)
1,000,000 Satoshi = 0.01000000 ฿ = 1 cBTC (bitcent)
10,000,000 Satoshi = 0.10000000 ฿
100,000,000 Satoshi = 1.00000000 ฿
Click the Satoshi value below to use that value above.
1 Satoshi = 0.00000001 ฿
10 Satoshi = 0.00000010 ฿
100 Satoshi = 0.00000100 ฿ = 1 Bit / μBTC (you-bit)
1,000 Satoshi = 0.00001000 ฿
10,000 Satoshi = 0.00010000 ฿
100,000 Satoshi = 0.00100000 ฿ = 1 mBTC (em-bit)
1,000,000 Satoshi = 0.01000000 ฿ = 1 cBTC (bitcent)
10,000,000 Satoshi = 0.10000000 ฿
100,000,000 Satoshi = 1.00000000 ฿
https://www.btcsatoshi.com/
And technically the supply can be increase, but it will require a consensus that everyone needs to agree, because you need to change the code. And then we will have to see another hard fork.
But we have to understand the very simple principle of core value of Bitcoin, limited supply, which gave it a deflationary throughout, until the very last BTC is mine.
Or introduce an even smaller denomination allowed to be used and recognized in between wallets? That might not be the best solution to address this non-problem but it gets the job done all the same, though entirely dependent on the value of bitcoin by then of course. Manipulating the supply cap of bitcoin would only make things complicated, as that will show that bitcoin can also be controlled by someone which will then make the community lose their trust in it and eventually abandon bitcoin. Maybe I'm exaggerating things, but that could really happen if decisions like this would be followed hastily without much thought.
Bitcoin's prices stay just the way they are right now (less than $1m), it may become unprofitable for miners to continue supporting the Blockchain. With no block reward, they'll be living off fees. If prices are too low, earned fees won't be able to sustain miner's operations. By then, developers would need to raise the limit of 21 million coins to a higher value, re-introducing a block reward in order to attract miners into the Blockchain. Otherwise, the security of the Bitcoin blockchain will be at risk.
It would still be profitable so long as more people start using bitcoin. This would me more transaction fees for the miners on top of block rewardsDo you think that the need to increase BTC's max supply will arise in the future? Or will Bitcoin be able to "live" just fine with a max supply of 21 million coins? Your input will be greatly appreciated. 
That won't be necessary. Unlike most fiat currencyBitcoin has 8 decimal blockchain values (1 satoshi = 0.00000001 BTC) and 11 decimal values for Lightning network Payment channels (I millisatoshi = 0.00000000001 BTC)
So there would be no need to increase more coins if 0.001 BTC can be 100,000 Satoshi or 1 mBTC
If it ever becomes a world reserve currency used for payments all around the world like some people believe we will have to think of something.
By the time Bitcoin reaches 21 million we will probably have at least 1/4 of that permanently lost and another 1/4 in safe accounts of lifetime hodlers which will leave only 10 million in circulation. That's not enough for over 500 million people. I said 500 because not all people in the world will use Bitcoin just like USD and EUR are estimated to be used by about 350 million people each.
By the time Bitcoin reaches 21 million we will probably have at least 1/4 of that permanently lost and another 1/4 in safe accounts of lifetime hodlers which will leave only 10 million in circulation. That's not enough for over 500 million people. I said 500 because not all people in the world will use Bitcoin just like USD and EUR are estimated to be used by about 350 million people each.
For long, Bitcoin has been touted as the "store of value" of the crypto/Blockchain space with its limited supply of 21 million coins. Based on estimates, all Bitcoin will be mined by 2100. Now, what if developers decide to increase that hard cap in supply? If at that point in time, Bitcoin's prices stay just the way they are right now (less than $1m), it may become unprofitable for miners to continue supporting the Blockchain. With no block reward, they'll be living off fees. If prices are too low, earned fees won't be able to sustain miner's operations. By then, developers would need to raise the limit of 21 million coins to a higher value, re-introducing a block reward in order to attract miners into the Blockchain. Otherwise, the security of the Bitcoin blockchain will be at risk.
Do you think that the need to increase BTC's max supply will arise in the future? Or will Bitcoin be able to "live" just fine with a max supply of 21 million coins? Your input will be greatly appreciated.
Do you think that the need to increase BTC's max supply will arise in the future? Or will Bitcoin be able to "live" just fine with a max supply of 21 million coins? Your input will be greatly appreciated.
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