Quote from: Pmalek on August 09, 2024, 08:00:35 AM

Quote from: Ishicryptic on August 07, 2024, 04:14:09 PM

Bitcoin has a finite supply of 21 million and that means that it can not be manipulated like fiat currencies. It's limited supply means that no centralized authorities like CBN can mint more of it and cause a likelihood of inflation. Bitcoin was structured from it's creation as a decentralized digital cash with a limited supply which makes it an hedge against inflation.

Bitcoin's scarcity is one of the mechanisms that gives it its value. But the 21 million cap can be changed if there is consensus for such a change and a hard fork. But this would be close to impossible to obtain, and I don't see why anyone serious would propose such a move let alone support a devaluation of bitcoin. In fact, any number of bitcoin is enough (even less than 21 million) because it is divisible to far below a 1 cent value.

I wouldn't advocate for a change of Bitcoin 21 million cap, that will destebelize everything that Bitcoin stands for, it will mean that it's original finite supply that has made it to stand out will become altered. I will rather have the amount of Bitcoin that will be in circulation in the future to be lower than 21 million, owing to the "donations" that will remain dormant in the blochchain, instead of exceeding it, it will cause it to have inflation which will reduce the value in the long term. And when that happens we will likely not see ATH price again and it will be reduced to a stablecoins. Scarcity remains the main ingredient that propelles price increase and the lesser Bitcoin that is in circulation the higher chances that it's price will continue to increase.