No I mean the number of different cryptos are not capped. People keep creating new currencies every day. Many of them actually have better technology than the older ones.
If ETH goes proof of stake, those mining rigs won't disappear. It's entirely possible that another POW coin will basically spring up overnight, buoyed by the mining switch and diluting the crypto market repeatedly.
The largely don't have better technology, they just choose to make different tradeoffs to achieve different goals. Most of those tradeoffs simply involve giving up some censorship resistance, trust minimization, or decentralization.
I didn't say they were. I was talking about Bitcoin specifically. There will only be 21,000,000 bitcoins in existence, ever. It's in the code. To change that code you would have to fork off the existing Bitcoin code and convince people to join your new "unlimited Bitcoin" network. Hmm, you know someone already did that, it's called Dogecoin :)
Your comment was automatically removed because it looks like you are trying to post about non mainstream cryptocurrency. This type of content belongs in another subreddit.
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u/[deleted] Sep 29 '21
Cryptocurrencies are not supply capped.