In the world of cryptocurrencies, heated debates have once again flared up around the fundamental principle of Bitcoin — the fixed supply limit of 21 million coins. The co-founder and CEO of StarkWare, Eli Ben-Sasson, has put forward a radical proposal: to abandon the absolute limit and switch to an annual issuance rate of 4%.
The Problem of "Disappearing" Coins
Ben-Sasson's argument is based on the inevitable loss of private keys. Over time, owners lose access to their wallets, and according to expert estimates, about 4 million BTC (as of November 2026) have already been permanently removed from circulation. "If you look at an infinitely long period, eventually all keys will be lost," he stated, emphasizing that in the long term, the effective supply of Bitcoin will only decrease.
As an alternative, Ben-Sasson proposes replacing the hard limit with a predetermined annual rate of new coin issuance. In his view, 4% inflation is a reasonable figure, roughly corresponding to the growth rate of the Earth's population. This model, he suggests, would preserve the asset's scarcity while preventing its complete disappearance from circulation.
Community Reaction: Division and Criticism
The idea has sparked a highly polarized reaction among Bitcoin enthusiasts. Opponents of the proposal remind that the 21 million BTC limit is not just a technical detail but a cornerstone of the "digital gold" concept. A user under the nickname Angel Akiyta expressed the general sentiment of skeptics: "This is a terrible idea. The very fact that you are considering the possibility of changing a protocol built on the principles of limited supply and decentralization is concerning. Make one such serious change, and others will follow. This destroys the very idea for which Bitcoin was created."
Other participants in the discussion also pointed out that Bitcoin is divisible into 2.1 quadrillion satoshis, and they dismissed the argument about a shortage of coins "for everyone" as untenable. However, Ben-Sasson countered that even this number of units would effectively decrease due to key loss.
Seeking a Compromise: An Alternative from Zcash
In response to the criticism, Zcash founder Bryce "Zooko" Wilcox proposed considering a milder option — the Network Sustainability Mechanism (NSM). This mechanism, discussed within the anonymous coin's ecosystem, retains the hard limit of 21 million ZEC. However, it allows users to voluntarily burn coins, with an equivalent amount gradually returned to circulation through miner rewards over four years. According to its authors, NSM supports network security without increasing the maximum supply.
My analysis: Ben-Sasson's idea is undoubtedly provocative, but it raises a real issue regarding Bitcoin's long-term viability. However, any protocol change affecting issuance is not just a technical patch but a fundamental shift in the asset's philosophy. The community will most likely resist it, just as it has resisted attempts to change the consensus algorithm. A more likely scenario is not a change to Bitcoin itself, but the emergence of sidechains or other solutions that offer alternative models without touching the "sacred cow" of 21 million.