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 agree with you in that every idea voiced in this thread would be far too drastic a change for
2025-2060
and by the time we get to 2060 we would be able to see the effects of really tiny block rewards vs fees.
2028= 1.5625 or zero issue why do a thing
2032= 0.78125 or zero issue why do a thing
2036= 0.390625 or zero issue why do a thing
2040= 0.1953125 or zero issue why do a thing
once we are at 2040 we can assess the price of the coin and if it is high enough 0.19+ 0.06 =0.25 btc a block
logic would say that is 12x lower coins in total and for miners to not switch price needs to be 1 mil to 1.3 mil
that would keep the miners mining btc and not switch to scrypt.
so we should easy peasy make it to 2040 with out tail end or confiscated stale coins.
we can also assess just how well LN works to create fees.
at 1.2 mill a 50 cent fee would be five bucks so it should be fine if we are
1.2 million price in 2040
the way to look at this is
2056 would mean 12 milion price is needed and a tx fee would be 50 bucks minimum.
but so much can happen in the 2025 to 2040 time and of course in the 2040 to 2056 time
LN growth is very important and coin price is very important
I will be 99 in 2056 would love to see what it looks like then