Trezor analyst: Bitcoin developers could theoretically remove the 21 million BTC issuance limit

Josef Tětek added that any changes to the network would need approval from the managers of full bitcoin nodes around the world

23.01.2024 - 14:15

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What’s new? Josef Tětek, an analyst at Trezor, a hardware crypto wallet manufacturer, believes that Bitcoin developers could theoretically remove the 21 million coin issuance limit. For such a change to take effect, it would have to be accepted by miners, he added. “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,” Tětek emphasized.

Cointelegraph’s material

What else is known? Tětek cited the “Blocksize War” in 2017 as an example of decision-making on the Bitcoin network. Back then, some developers, miners, and exchanges wanted to increase the BTC block size from the original 1MB size. “The node runners rejected such change, as it would lead to greater centralization of Bitcoin,” Tětek explained.

Members of the bitcoin community on the Bitcointalk forum expressed confidence that miners would not support the lifting of the 21 million coin issue limit. A user under the nickname Kakmakr also noted that BTC is not like fiat and an increase in its supply can only be possible if network participants reach a consensus.

Earlier, JPMorgan CEO Jamie Dimon interviewed on CNBC questioned the limit of the final supply of the asset. At the same time, he called for “don’t get involved” with bitcoin, as it does not belong to the cryptocurrencies of value.

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