Author: Omar Shibli 2019-04-01 02:55:41
Published on: 2019-04-01T02:55:41+00:00
On April 1, 2019, Luke Dashjr, a member of the bitcoin-dev community, wrote about the current state of Bitcoin's valuation and how certain parts of the community have been selling bitcoins for unreasonably low prices. This has caused the price of Bitcoin to drop below $15k, despite the fact that Bitcoin is worth much more than that, and there is widespread support for higher prices.In response to this issue, Dashjr proposed two BIPs: one to add a signed price field to Bitcoin transactions, and the other to softfork a minimum price of $50k USD/BTC a year from today. However, Peter Todd, another member of the bitcoin-dev community, pointed out a serious vulnerability in Dashjr's proposal; there's no limit on the maximum supply of USD.This vulnerability could potentially cause significant issues with Bitcoin's valuation and overall stability. It remains to be seen if any action will be taken to address this concern.
Updated on: 2023-06-13T17:50:48.971173+00:00