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The debate over Bitcoin’s fixed supply has been reignited by a video from BlackRock, raising questions about the possibility of changing the 21 million unit cap. This discussion has sparked varied reactions within the crypto community, highlighting the importance of this feature for bitcoin.
In a recent video, BlackRock explained that Bitcoin’s supply is capped at 21 million units, a characteristic often highlighted as one of the main advantages of the cryptocurrency as a store of value. However, the video also contained a disclaimer stating that there is “no guarantee” that this limit will not change in the future.
Michael Saylor, chairman of MicroStrategy, reposted the video, emphasizing the importance of this fixed cap for the scarcity and value of BTC. Some critics have suggested that this disclaimer might indicate an imperfect understanding of Bitcoin’s immutable nature by BlackRock.
The question of whether Bitcoin’s supply can be modified depends on the very definition of “Bitcoin.” According to Super Testnet, changing the supply would require a consensus among community members, including node operators, core developers, miners, and investors. Such a change would likely entail a hard fork of the blockchain, creating a new chain with different rules.
However, it emphasizes that even if this is theoretically possible, the resulting new chain would no longer be considered Bitcoin. “The inflation cap is a defining characteristic of Bitcoin,” he stated, referring to Satoshi Nakamoto’s white paper.
The idea of an uncapped supply could have profound implications for Bitcoin. The scarcity of BTC is often cited as a key reason for its appeal as a store of value. If this scarcity were to be called into question, it could affect investor perceptions and the value of the crypto.
In summary, although BlackRock’s video has reignited the debate over Bitcoin’s fixed supply, it is unlikely that this fundamental characteristic will be changed without significant consensus within the community. The immutable nature of Bitcoin remains one of its main strengths, and any attempt to alter this feature would likely meet considerable resistance.
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Le monde évolue et l’adaptation est la meilleure arme pour survivre dans cet univers ondoyant. Community manager crypto à la base, je m’intéresse à tout ce qui touche de près ou de loin à la blockchain et ses dérivés. Dans l’optique de partager mon expérience et de faire connaître un domaine qui me passionne, rien de mieux que de rédiger des articles informatifs et décontractés à la fois.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
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