• Unbelievable audacity: who wants to increase the maximum number of bitcoins?


    21 is a sacred number for each Bitcoin maximalist. Just as many millions of BTC coins will be mined in total, and it is this figure that appears in many articles and news about the first cryptocurrency. But what if 21 million bitcoins is too little?

    This conclusion was reached by a whole group of crypto enthusiasts. They advocate an increase in the maximum number of BTC in favor of the project. However, for many developers and ordinary investors, this idea still seems to be “blasphemous.”

    How many bitcoins do we need
    During the Satoshi Roundtable event last week, Matt Luongo suggested revising the first rules of Satoshi Nakamoto. In his opinion, this will help solve the problem with the massive adoption of the Lightning Network. But how exactly?

    Since Bitcoin halving occurs every 4 years, in theory in the future, miners will not benefit from processing transactions in the cryptocurrency blockchain. In addition, the number of transactions themselves will be significantly reduced, since most of the transfers will be made at the Lightning Network. In the end, this situation will lead to an increase in the threat of an attack 51 against the Bitcoin network.

    The maximum amount of Bitcoin Cash was also suggested to be increased for the same reasons. Due to low commissions, cryptocurrency after a few halvings, miners will become unprofitable to do their business.

    Bitcoin supply cap. Fight me.  https://twitter.com/WayneVaughan/status/1092113336039288832

    - Matt Luongo (@mhluongo) February 4, 2019

    The rest perceived such statements with sharp hostility. It is not surprising, since an increase in the maximum number of bitcoins will theoretically lead to the depreciation of each individual coin. At the same time, the reputation of cryptocurrency can be severely affected, because its rarity and deficiency are a very good trump against Fiat.

    By the way, no one still knows why Satoshi chose exactly 21 million. The maximum amount of satoshi, that is, the smallest parts of Bitcoin, mystically exactly coincides with the maximum 64-bit number.
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