Post
Topic
Board Development & Technical Discussion
Re: Is the 21 million bitcoin limit unchangeable?
by
batcoin
on 15/03/2013, 21:59:26 UTC
Bitcoin is mathematical, and mathematics is elegant, so obviously it cannot happen here.

Man, those sound like famous last words...

From my understanding it could happen and easier than one might think. It all depends on the diligence of those who download the software and run nodes for the network from what I understand. If they are lazy and set their client to automatic update (which is something that I suspect would be implemented in future releases) or they just upgrade because there's a new release, a majority of the network could unwittingly accept the change.

I'm not saying that I don't trust the community, quite the contrary. But what if circumstances change and it appears to be wise to make a change to the limit? Who knows what could be 10 years from now.
I mean, the current money printing also came gradually over time and people just got used to it.
Why would anyone prefer a system where their money is losing value just by holding it to one where it doesn't? It makes no sense.

When people don't have the first clue on how their money actually works, how can they know enough to care? They just listen to the asshole on TV who says that inflation is BAD! Deflation is BAD! Stagflation is BAD! and they say HELL YEAH BIOTCH! and head off to work to flip burgurz.

Take what I have to say with a grain of salt, though. I am just an amateur with an asshole opinion.

Now I am off to spin pizza dough.