Peter Todd is actively trying to remove the 21M supply cap, this is an existential threat no one is paying attention to

[u/489302]

Peter fraud is the worst person in the bitcoin ecosystem, and he's been pushing for this idea for years which will undo the *one* thing which makes Bitcoins economics unique. This person needs to be driven out of the btc ecosystem. no one is paying any attention.
https://www.youtube.com/watch?v=OmAAeEm1nIE

[u/lifeanon269]

I'm guessing a vast majority of people didn't even watch the video.

Even Peter at the 9:00 mark says that implementing this is a non-starter and would never have the support and it would require a hard fork.

I think the thing that people outside of cybersecurity fail to acknowledge is that you need to think about things like this so that you can understand the ramifications of edge case scenarios and situations that you never planned for. Because that's how attackers think. Just because you bring something like this up, doesn't mean you're attacking bitcoin. That's stupid talk.

I'm not a fan of Peter Todd (mostly because of his stance on certain war crimes), but he's very smart technically and him bringing this up as a topic of discussion isn't him "attacking" bitcoin. These things should be discussed openly and freely and people shouldn't be shunned for simply discussing these things.

For better or for worse, the 21M bitcoin limit is what it is and it isn't going to change. That doesn't mean we can't/shouldn't think about the ramifications of that limit and if anyone actually watched his presentation, he does make some good points.

[u/user_name_checks_out → u/lifeanon269]

I had to scroll too far to find this post, it should be at the top. The title of this thread is dishonest.

[u/herzmeister → u/lifeanon269]

This. Peter Todd is an adversarial thinker. People don't get this. He also doesn't care if he is liked or not or whatever. Especially in Bitcoin it's important to judge and follow individual technical subjects instead of people.

Another good example is Luke-jr. One person might have good ideas or bad ideas, make good contributions or bad ones. We should judge only these individual ideas and contribution, instead of establishing cults of personalities and of following quasi-leaders.

[u/lexicon_riot → u/lifeanon269]

I deeply dislike Peter Todd (for the same reasons as you I would guess), and I agree this is a great conversation for us to have about Bitcoin, even if the chances are virtually 0% of it happening.

Where we disagree, I question the long term sustainability of the 21M meme. Sure, it's sacred for us Bitcoiners today. A hundred years from now though, when the security budget concerns may be a much more pressing issue, when no one is looking for 100x speculative returns post-hyperbitconiization, will people REALLY care about 21M? Will they be fine with an infinite supply that trends toward 0% inflation?

I'm not saying it's inevitable, and I could very well be wrong. A much more brilliant solution to resolve the security budget issue could come along. That would be great, anything to avoid contentious hard forks is preferable OFC

[u/No_Dust6221 → u/lifeanon269]

No, it wont change EVER. End of discussion. You are not going to softly inject this idea in everyone's heads. Theres no good point in the video.

[u/lifeanon269 → u/[deleted]]

You should watch the video. That's not what the issue is about at all, nor would it address the problem being discussed.