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newcommer2013-12-09 11:39:53
bitcoin
newcommer, 2013-12-09 11:39:53

Bitcoin and protocol change

In discussions about the limited number of bitcoins, you can often hear the following argument: the positive feature of bitcoins is that their number is limited and it is not subject to inflation, it is impossible to issue more than 21 million bitcoins, but if necessary, it is split up to 8 decimal places and you can change the protocol to crush it even more. And if it is possible to change the protocol in the future, then what will prevent changing it so that the number of possible bitcoins is not limited at all?

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2 answer(s)
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arruah, 2017-03-13
@arruah

Use Bitcoin Unlimited.

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profittraded, 2018-03-22
@profittraded

Just take and change the protocol will not work. However, the blockchain is written by the users themselves, and if some of the users switch to another protocol, then the protocol differences will split the network into two. This happened with ether, and now there are two different currencies on the network, ether and ether classic. It will not be possible to cancel the bitcoin restriction, but you can develop another protocol and separate it from the network, then in addition to the already existing bitcoin, there will be a separate coin, which we will call, for example, BitcoinInfinit. But in this way we will simply get a new cryptocurrency. So these actions in order to remove the restrictions on the amount of bitcoin do not make sense.

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