Post
Topic
Board Bitcoin Discussion
Re: Will the need to increase BTC's max supply arise in the future?
by
logfiles
on 07/08/2020, 20:43:30 UTC
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 rewards

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. Smiley
That won't be necessary. Unlike most fiat currency
Bitcoin 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