Bitcoin developers are expected to theoretically remove the 21-million-Bitcoin (BTC $39,680) supply limit from the source code, stated Cointelegraph. However, it is believed that the miners are unlikely to accept such a change, according to one analyst.
Sources revealed that the 21-million hard limit of Bitcoin is one of the fundamental principles of the Bitcoin network. This is believed to be designed to provide scarcity the gap between limited resources and unlimited wants.
“Devs can potentially introduce anything they like, but they cannot force the changes on anyone. The main say in what gets accepted have the node runners — people around the world that run Bitcoin full nodes,” Josef Tětek, a Bitcoin analyst, Trezor, a hardware wallet firm, explained.
It is believed that some commenters in the Bitcoin community echoed similar sentiments on the cryptocurrency forum Bitcointalk. Furthermore, many are expected to mention that miners will not support the removal of Bitcoin’s 21-million supply cap, concluded Cointelegraph.
(With insights from Cointelegraph)
