Author: Billy Tetrud 2022-03-05 19:13:27
Published on: 2022-03-05T19:13:27+00:00
Asher Hopp, a new contributor to the bitcoin-dev mailing list, proposed a Bitcoin Improvement Proposal (BIP) that aims to change the maximum supply of bitcoin from 21 million to 21 trillion by moving the decimal place six places to the right while reserving two degrees of accuracy after the decimal point. The proposal is based on Satoshi Nakamoto's suggestion in 2010 to change where the display shows the decimal point and commas when interpreting a bitcoin wallet's balance. Hopp argues that this change will benefit Bitcoin's adoption by eliminating the negative perception of its unit size, promoting community cohesion, and simplifying standardization across different regions. The only drawback he identifies is psychological, as Bitcoin detractors could spread misinformation about the monetary value of anyone's Bitcoin. Implementation of the BIP would require updating the configuration of wallets' CLI/GUI displays, but it is backward compatible with previous versions of Bitcoin.
Updated on: 2023-06-15T17:35:46.619206+00:00