Speaking in Davos on Wednesday, JPMorgan CEO and also a well-known bitcoin critic Jamie Dimon made a suggestion that Satoshi Nakamoto might lift the limit on the number of bitcoins, which as we know is 21 million BTC. How would you comment on such a statement?
Referring to the limited supply of Bitcoin, which is to mirror the properties of gold, Dimon said he doubted the finality of the 21 million Bitcoin supply maximum, saying: "I think there's a good chance, when we get to that 20 million bitcoins...Satashi [sic] is going to come on there, laugh hysterically, go quiet, and all Bitcoins [are] going to be erased. How the hell [do] you know it’s going to stop at 21?"
I would say they are making no sense with their remarks. First off, Satoshi is not coming back, and even if he did, he wouldn't come back and spoil what his creation has achieved so far by removing the limit on the supply and increasing it which would affect the value of the coin significantly, of course. Secondly, the whole cryptocurrency industry will start having doubts and lose trust in Bitcoin if something like that happens, I can't even think about it theoretically.
Satoshi created Bitcoin as a decentralized cryptocurrency that would be running on a public chain that would be controlled by miners who would use their computing power to mine blocks. He can't just come out of nowhere and make changes in the network when all the miners have been helping the blockchain work since the beginning.