Crypto Brother

2024/12/20 01:38

Despite highlighting Bitcoin's 21 million coin lim

Despite highlighting Bitcoin's 21 million coin limit, BlackRock admitted there's "no guarantee" this cap won't change.

Altering the cap would require a "hard fork," splitting the network. This is highly controversial.

Removing the cap could ensure miners' incentives but would undermine Bitcoin's core principle of scarcity.

Bitcoin’s fixed supply of 21 million coins has always been a key reason for its value, setting it apart from traditional currencies that can be printed endlessly. But a recent video from BlackRock has stirred controversy, raising questions about whether this cap is truly unchangeable.

What Did BlackRock Say?

In a recent explainer video shared by Michael Saylor, BlackRock highlighted Bitcoin’s fixed supply as a key feature, saying it helps control inflation and maintain value. However, they added a surprising disclaimer: there’s “no guarantee” that the 21 million won’t change.

This statement has sparked instant reactions, with some wondering if Bitcoin’s scarcity is really as secure as people think. Critics like Joel Valenzuela even claimed that this could be part of a plan to change Bitcoin’s rules.

Could Bitcoin’s Supply Limit Be Changed?

Technically, it’s possible—but extremely challenging. Changing the 21-million cap would require a major update called a “hard fork.” This would split Bitcoin’s blockchain into two versions: one with the original limit and one without it.

However, many believe that a Bitcoin without its supply cap wouldn’t be Bitcoin anymore. As Bitcoin developer Super Testnet explained, “The cap defines Bitcoin. Without it, it’s just something else entirely.”

Why Is This Debate Happening?

The debate largely revolves around miners, who play a crucial role in securing the Bitcoin network. Miners are rewarded with newly created Bitcoin for their work, but these rewards halve every four years. By 2140, all 21 million coins will have been mined, leaving miners to rely only on transaction fees.

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