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Bitcoin 21 million cap under scrutiny as \'perpetual issuance\' debate heats up

A debate over Bitcoin\'s 21 million supply cap has resurfaced after early developer Peter Todd raised questions about long-term security under declining block subsidies. The issue is whether transaction fees alone can sustain proof-of-work security as halvings reduce subsidies. Todd has floated “tail emission,” continued small issuance after new issuance ends, though he has not proposed a concrete change plan. Critics call the idea risky, warning it could undermine trust and threaten Bitcoin’s viability.