We have all seen recently the critics of the mechanism that keeps Bitcoins supply at no more than 21 million coins, let’s not complicate this debate by adding in lost or hacked coins let’s just stick with 21 million.
We all know in theory that cap could be raised if all miners agreed to that increase and there may be certain circumstances that could make that kind of increase move plausible.
Now personally I believe the argument about the cap increase is scraping the bottom of the barrel as most critics are running out of arguments against Bitcoin as an investment.
The big question and one I cannot answer as I do not have a computer science degree is whether the community could eliminate this cap argument via an upgrade to the protocol.
I image a mechanism that could be built in that if anyone did try and vote or implement a cap increase would or could trigger a destruction of the chain, kind of like a suicide button which would literally destroy Bitcoin and everything that existed.
Of course this would be an extreme event and with it being triggered automatically in that event wouldn’t that be enough to prove that no way ever would there be any supply increases in the future.
Or for conversations sake has anyone else pondered this issue as it seems to be being used more and more by none believers.
Thoughts please.
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