I really wonder, do some of you people think that changing Bitcoin significantly NOW or even in the next decade in order to save a potential disaster that may happen over a century from now is a good idea?
This sounds like a thing to maybe take care of about 100 years from now. Until then, maybe Bitcoin does not even get to exist any more. If it all comes down to twice the price every halving, we should be at over 100 million dollars per Bitcoin by around 2060. And about the market cap, my calculator can not even count that much. On the other hand, if this inflation situation continues until then, it actually sounds like a realistic after all.
So many things can happen. Quantum computing in the hands of individuals rather than researchers may actually become a problem until then. But the worst of it all, a significant Bitcoin change is always all about chances. So far, Bitcoin has done great and the chances were considered slim. Why change it significantly if there is a chance the new version leads it straight toward its grave?
Bringing changes in small steps and closer to the timeline sounds way safer. Hell. We barely know how the world is going to look like in 2030 if you bring your own mind back to 2020. Would you have guessed back then that this is how 2020 through 2025 would look like?
I've said it here. With or without this issue, someday somewhere an equilibrium must be met. Even without this issue, the hashrate can't go up forever like this. A stagnation of the rewards for some time would actually push the companies towards more efficiency improvements.
Do fees need to always stay high? No. Does the hashrate have to always increase? Also no.