Post
Topic
Board Development & Technical Discussion
Re: Is the 21 million bitcoin limit unchangeable?
by
johnyj
on 18/03/2013, 03:17:28 UTC

Not relevant.  We are talking about Bitcoin as a transaction system and a store of value.  The blocksize limit is a different issue.


Although different, it is closely related. To raise the blocksize limit, you have to do a hard fork, and a hard fork might affect "store of value" property of bitcoin

A hard fork means there is a change in bitcoin protocol, that will shake people's belief on many claims of bitcoin, just like OP wondered,  technically speak, all of bitcoin's claims can be changed with a client upgrade, then who is going to guarantee the consistency? This "Hard Currency" start to feel soft

If a hard fork will never happen, then "store of value" property will be intact. But this transaction system will become slow and expensive over time due to the block size limit, it might not be very practical to use bitcoin, when you need to wait for days/weeks for a confirmation (if you don't want to pay very high fee)

What is your view on this?