Post
Topic
Board Bitcoin Discussion
Re: Will the need to increase BTC's max supply arise in the future?
by
supine
on 08/08/2020, 21:25:25 UTC
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. Smiley
For me Bitcoin could live just fine with a max supply of 21 Million and the creator already knew it that is why we have Mbits,Bits and Sats to make sure that it is enough.
The price could expend and it wouldn't matter because we could always send small amounts or use small amounts for every transaction it is not required to have 1 BTC so why would we need to increase the max supply?