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UltraWoof
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Cryptocurrencies: Modern Day Alchemy - Michael Pento - Delta Global Advisors

I have tried to understand Bitcoin. The part I do not understand is: How and why is the quantity of Bitcoin actually limited?

Because: the person or the people who conceived, invented and programmed the algorithm that makes Bitcoin limited in number, could simply, or may be not so simply, change the very system, the program, the algorithm to increase the number of potentially, mathematically, logically available Bitcoin.

What I seem to feel about this is that the number of Bitcoin is not limited by nature, it is merely limited by the algorithm that brought it into existence. And therefore, anyone who controls the algorithm, could also change it.

If I am wrong at this perception, then please tell me how I am wrong. The people that market Bitcoin of course have a vested interest in promoting the idea that "Supplies are limited", in the same way
that land dealers say "Buy land, they don't make anymore of it", and the same way "Gold coin dealers
wish to emphasize the relative scarcity of gold".

May be I am too suspicious, but it just seems to me that "Supplies of Bitcoin are not as limited as advertised". Does anyone have actual knowledge about this? I so much prefer knowledge over guesswork, because it simply works better.

Commented 2566 days ago

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Beginning of the headline :Cryptocurrencies make good currencies, but fail miserably when trying to achieve the status of money. Cryptocurrencies are both created and held electronically inside a virtual wallet. These digital currencies use encryption techniques to regulate the generation of new units and to verify the transfer of funds. Cryptocurrencies operate independently of governments and are decentralized. The most popular cryptocurrency now is Bitcoin. Bitcoin has risen in popularity because, unlike government-bac... Read More

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