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Camp Statement

Go live Time : 01 September 2013, 10:24 PM

Should the Bitcoin Mining Limit Ever be Changed?

Currently, there is a predetermined limit to the number of Bitcoins that can be Mined. The goal of this topic is to survey all users of Bitcoins, to rigorously measure for how much expert consensus there is about whether this limit should ever be changed. And if so, how.

So far, there is unanimous agreement that, given the current system, an increase in the number mining limit would be impossible. For example, even if it could be definitively determined that 90% of the controllers of mining/processing hardware would agree to such a proposed switch, if 10% did not make the switch this would cause a fork to Bitcoins, resulting in traditional Bitcoins and new Bitcoins. Everyone would then tend want to convert whichever coin is decreasing in value faster to whatever is more likely to increase in value, resulting in the attempted switch by 90% of the operators (and holders of such "new coins") to fail.

(Note: If anyone disagrees with this, for any reason, be sure to speak up or get this fact canonized, so we can push that doctrine into a lower camp, so any such lack of consensus can be measured and tracked..)

This open survey topic is part of the expert "Crypto Currency Survey Project".

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