20 Million bitcoin instead of 21?
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We recently celebrated the creation of the 19.million bitcoin. A truely remarkable achievement by this community.
When Satoshi with incredible foresight and indisputable geniality connected all the dots in 2008, it was an infliction point in human history.
However.. I am not convinced that the consequenses of his White paper manifesto was quite understood at the time of its release.
The reality we are looking into if we continue down this path, is that we will reach 20 Million bitcoin mined in approx. 4 years.
If we decide to stick with the plan, then in the future our great granchildren will spend 38 years in the following decade and an ocean of energy mining 1 bitcoin. One!
This, while at the same time Blackrock, JP Morgan, Tesla, Goldman Sachs and the cryo-emblamed body of Michael Saylor sits on tens of thousands BTC each.
Does this sound like reasonable, rational use of time and energy to you? Not a tiny bit crazy?
Now I am not an engineer or IT savvy in any shape or form.
I’m actually a bricklayer by trade and english is not my first language, so obviously it wont be me that develops another, perhaps more planet-friendly path for bitcoin.
But I would certainly be willing to exchange my stack to BTC20 instead of BTC21, if all else stands as Satoshi intended it.
My humble proposal would be to drop mining the last million BTC and let us test if the system can run on tx-fees as predicted by the whitepaper.
In my admittedly simplistic perspective, this will leave us all with less allround supply, more public goodwill and less consumption of energy that potentionally could do more good eg. by calculating cancer-treatment or spacetravel?
What do you think? Is this even doable and secure?
Cryptocurrency
