TheBitcoinBattery on Nostr: Transaction fees will never support block creation in place of the block rewards. ...
Transaction fees will never support block creation in place of the block rewards.
Bitcoin's value growth will exceed expectations and make it necessary to introduce a regularly occurring decimal shift with increased division very soon.
Satoshi even suggested this could one day occur (see attached image) and in the code included the limit of only up to 64 halvings being allowed, even though the math of current divisibility means we can't have more than 32 halvings.
It is likely the network will fork within the next decade into one that divides further and one that doesn't, with possibly no other major changes.
This need for increased divisibility will be clear when Satoshi's reach ¢/Sat parity in the next few years. IMO consensus will be found for adding a function to increase all balances by 10 with every halving, including a 1 time adjustment to add a 0 for every halving that's already occurred since network creation. If this were to occur by the 2028 halving, than we would have added five 0s to the network after that date. One Sat today would be worth ten thousand Sats tomorrow. This would effectively gives a "Coin split" and make the network easier to work with in small amounts while maintaining the current ratio of balances between users.
We can keep the meaning of 1 Bitcoin = 1 21 millionth of the whole network, thus maintaining the ♾️/21 million aspect of Bitcoin's scarcity narrative, but we can increase the number of Satoshi's each Bitcoin contains within it to maintain usability over the long term.
This would also help us naturally shift towards thinking in Sats over Bitcoins, as the number of sats you own would multiply by 10 every 4 years while the fraction of a Bitcoin would be unchanged.
☮️🧡₿
*Not an April fools joke*
Published at
2025-04-01 13:48:59Event JSON
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"content": "Transaction fees will never support block creation in place of the block rewards. \n\nBitcoin's value growth will exceed expectations and make it necessary to introduce a regularly occurring decimal shift with increased division very soon. \n\nSatoshi even suggested this could one day occur (see attached image) and in the code included the limit of only up to 64 halvings being allowed, even though the math of current divisibility means we can't have more than 32 halvings.\n\nIt is likely the network will fork within the next decade into one that divides further and one that doesn't, with possibly no other major changes.\n\nThis need for increased divisibility will be clear when Satoshi's reach ¢/Sat parity in the next few years. IMO consensus will be found for adding a function to increase all balances by 10 with every halving, including a 1 time adjustment to add a 0 for every halving that's already occurred since network creation. If this were to occur by the 2028 halving, than we would have added five 0s to the network after that date. One Sat today would be worth ten thousand Sats tomorrow. This would effectively gives a \"Coin split\" and make the network easier to work with in small amounts while maintaining the current ratio of balances between users. \n\nWe can keep the meaning of 1 Bitcoin = 1 21 millionth of the whole network, thus maintaining the ♾️/21 million aspect of Bitcoin's scarcity narrative, but we can increase the number of Satoshi's each Bitcoin contains within it to maintain usability over the long term.\n\nThis would also help us naturally shift towards thinking in Sats over Bitcoins, as the number of sats you own would multiply by 10 every 4 years while the fraction of a Bitcoin would be unchanged.\n\n☮️🧡₿\n\n*Not an April fools joke*\n\nhttps://m.primal.net/NEOE.png",
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