“One typical argument raised against Bitcoin concerns the limit on the maximum number of bitcoins that will ever be created, which Satoshi Nakamoto set at 21 million. Once reached, what could prevent someone from increasing this limit? Nothing really, but he would need the cooperation of the majority of miners for this change to be accepted. Even were the majority of miners to agree to lift this restriction, if all did not agree, then a split in the block chain would result. Those in favor of lifting the restriction would use one version of the block chain while those not in favor would use a different version. In effect, we would have two virtual currencies rather than one, the “original Bitcoin” and a “Quantitative Easing Bitcoin”. Over the long term, one would hold its value longer and better and would therefore become the preferred version while the other would drop in value. What would be your guess as to which one would hold its value longer and retain the interest of users of Bitcoin?”
―
The Book Of Satoshi: The Collected Writings of Bitcoin Creator Satoshi Nakamoto
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The Book Of Satoshi: The Collected Writings of Bitcoin Creator Satoshi Nakamoto
by
Phil Champagne707 ratings, average rating, 67 reviews
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