However, it is also clear that the Bitcoin price cannot more than double every four years for all time. This means that fees are becoming increasingly important for miners. This contradicts the decentralized structure of Bitcoin.
How do we escape this dilemma?
This is what I love about Bitcoin Mining, PoW is perfect. If the mining difficulty is high, it becomes unprofitable to mine but it becomes profitable when others shut down their miners. On the other hand, mining is always profitable but not for everyone. The one who will turn their miner for the longest time, will mine with profit.
By the way, it's natural that miners will soon be dependent on fees than on block reward but I don't understand how that contradicts with Bitcoin's decentralized nature.
If Bitcoin removes the 21 million supply cap, will it still be called bitcoin?
I mean if the miners agree with the proposal and increase the supply limit to a higher number, technically it will still be bitcoin because the miners have the power to change the network rules.
But how many people will accept it?
I think a decision like that would make so many people angry.
I don’t think it is a good idea.
For me, as a Bitcoin holder, it will be very unfair. It should be very unfair for every Bitcoin holder and Bitcoin related business, for every Bitcoin user because by changing the supply limit, they are changing the fate of probably, millions of people. It's not fair and it should never be done. There is a limited supply for a very valid reason.