Speaking in Davos on Wednesday, JPMorgan CEO and also a well-known bitcoin critic Jamie Dimon made a suggestion that Satoshi Nakamoto might lift the limit on the number of bitcoins, which as we know is 21 million BTC. How would you comment on such a statement?
Referring to the limited supply of Bitcoin, which is to mirror the properties of gold, Dimon said he doubted the finality of the 21 million Bitcoin supply maximum, saying: "I think there's a good chance, when we get to that 20 million bitcoins...Satashi [sic] is going to come on there, laugh hysterically, go quiet, and all Bitcoins [are] going to be erased. How the hell [do] you know its going to stop at 21?"
First of all let's loot at the possibility for that, this is something that had already been programmed to only exist under the limit of 21 millions bitcoin to be mined, after this, the miners will have no reason to get stranded because they will depend on transaction fees, accepting this also will mean that bitcoin doesn't have a fix supply which we have already been preaching about and that equally makes no difference with fiat with unlimited supply, having this alone could make some believed it could be manipulated and untrusted.
JP Morgan and Jamie Dimon might have only suggested this as the way they feel and not bringing it as an idea to see come through, this is more of an interrogation through the media and everyone speaking his own opinion, which could really be something entirely different from the way bitcoin is or can be, but that doesn't suggest the things we should also expect to be in the same direction on what they are thinking about, the bitcoin network was set, it's working perfectly as it has been created for and there's no more to add or deduct irrespective of the people's opinions except the developers shift ground which is likely most impossible.