Them: Can't the Bitcoin code just be changed to make more Bitcoins?
Me: You mean like the 7 people on the Board at the Federal Reserve (which controls money supply and interest rates) have always done?
Yes, the #Bitcoin code can absolutely be changed, just like The Fed can change the money supply and interest rates.
The real difference between Bitcoin and The Fed is:
- If the Bitcoin code gets changed to increase the supply of Bitcoins, NONE of the 19,000+ decentralized nodes are forced to accept the new code. Everyone gets a vote and it's 100% opt-in.
- When The Fed makes changes to the money supply and interest rates, every citizen is FORCED to accept it. No vote and no opt-out.
https://www.federalreserve.gov/aboutthefed/bios/board/default.htm
reidwalley / Reid Walley
npub12j…s9mh9
2024-07-21 00:13:03
Author Public Key
npub12jatzvy6sazrz2qf6d0wn2w4ffr5rmd6rqwemgwqhlj0vqs0y6aqrs9mh9Published at
2024-07-21 00:13:03Event JSON
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"content": "Them: Can't the Bitcoin code just be changed to make more Bitcoins?\n\nMe: You mean like the 7 people on the Board at the Federal Reserve (which controls money supply and interest rates) have always done?\n\nYes, the #Bitcoin code can absolutely be changed, just like The Fed can change the money supply and interest rates.\n\nThe real difference between Bitcoin and The Fed is:\n\n- If the Bitcoin code gets changed to increase the supply of Bitcoins, NONE of the 19,000+ decentralized nodes are forced to accept the new code. Everyone gets a vote and it's 100% opt-in.\n\n- When The Fed makes changes to the money supply and interest rates, every citizen is FORCED to accept it. No vote and no opt-out.\n\nhttps://www.federalreserve.gov/aboutthefed/bios/board/default.htm",
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