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Is Bitcoin’s 21 Million Cap Safe? Adam Back Explains
Adam Back, a renowned cryptographer and early Bitcoin proponent, has recently shared his thoughts on the 21 million cap controversy surrounding Bitcoin. According to him, it is clear that BlackRock’s lawyers forced them to add the legal disclaimer stating that they cannot guarantee the maximum supply of Bitcoin.
This move, in Adam Back’s opinion, is purely a precautionary measure by the company’s lawyers to provide themselves with some level of protection against potential lawsuits if something unexpected were to happen. The 21 million cap, he emphasized, is an inherent characteristic of the Bitcoin protocol and not subject to change by BlackRock or any other entity.
Back pointed out that it would be impossible for the community to suddenly increase the maximum supply of Bitcoin. “It’s just their lawyers making sure they don’t get sued if the community changed the number and they’d sold bitcoin ETFs saying it could never be over 21 million,” he said in an interview.
Adam Back is not the only one who shares this view. Many experts agree that the maximum supply is a fundamental aspect of Bitcoin’s design, making it highly unlikely for any changes to occur.
The controversy surrounding BlackRock and their addition of the disclaimer serves as a reminder that even the most prominent players in the cryptocurrency space must be vigilant about ensuring their legal coverage, particularly when dealing with sensitive topics such as this.
Source: u.today
