Post
Topic
Board Development & Technical Discussion
Re: Is the 21 million bitcoin limit unchangeable?
by
johnyj
on 18/03/2013, 13:39:56 UTC
Yes, I understand that now. I was under the impression that the coin limit was somehow fixed forever and could not be altered (like a transaction deep in the blockchain can't be changed anymore). But that's obviously not the case.

This text is recorded in the coinbase of genesis block
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"

Related article
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/4092926/Second-bank-bailout-plans-condemned.html

This event was from England, so I guess that Satoshi is an english scholar. England has always been famous about so many great economists. Such a genius design of bitcoin is surely based on some deeper thoughts in macro economy

So in a worst case scenario where people have large disagreement with bitcoin's future direction, at least they will have a consensus that bitcoin will never take the same route as today's debt driven monetary system, since that is recorded in the genesis block

In fact, even the coin generation rate are changed in future, the bitcoin is still FUNDAMENTALLY different than today's debt driven money issurace: Each coin is debt free

This is maybe the hard-wired fact that OP is looking for