Quote from: MusaMohamed on Today at 03:13:25 AM

Quote from: Iranus on March 04, 2024, 10:31:56 AM

Bitcoin is open source and managed by the community, so I think that if there is consensus from developers, miners... then printing more bitcoins is possible. I think we can theoretically change the supply of bitcoin but doing so is very difficult and almost impossible. If someone makes a proposal about it, it will definitely cause fierce debate in the community, it is no different from an impossible task. If I remember correctly, we also had a discussion thread about this issue right on our forum.

It is possible but the community don't want it. They know that part of Bitcoin value is contributed by its limited supply, 21 million bitcoins.

They are smart enough to know that if in history, Bitcoin total supply can be voted by Bitcoin nodes, community members to increase its total supply, there will be more events like this to increase Bitcoin total supply many more times. Then, belief in Bitcoin and its fixed total supply will be broken.

This idea is only from people who don't have bitcoin and hesitate to buy bitcoins. They want to have more bitcoins in total supply to have cheaper price to buy. They are for their benefits, not for benefit of the whole community. They also miss a point that if Bitcoin total supply can be increased, they will not get benefit in a long term too.

How is the 21 million Bitcoin cap defined and enforced?
Can Bitcoin's Hard Cap of 21 Million Be Changed?

Increasing the bitcoin supply is a terrible idea and I do not expect it to be proposed and passed under any circumstances. Although supply is not the only factor that makes bitcoin as valuable as it is today, and many people are also focusing too much on bitcoin's supply, because if bitcoin does not have any outstanding utility, then that supply is worthless. But we should not arbitrarily change or increase supply because if you change it once, it will happen next time. This will reduce the reputation of bitcoin thereby reducing the value it achieves.