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A proposal to remove Bitcoin's ($BTC) 21 million hard cap is in focus after StarkWare CEO Eli Ben-Sasson argued the protocol should run a 4% annual inflation rate instead.
His case rests on a mechanical claim about private keys: they get lost over time, pulling the amount of usable Bitcoin steadily downward regardless of what the protocol says the ceiling is.
The suggestion drew disagreement from many quarters. The supply-loss argument Ben-Sasson's logic works from the wallet level up.
When a private key is lost, the $BTC tied to it stays on the blockchain record but cannot be moved or spent. That supply is locked, permanently.
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