Episode Details

StarkWare CEO Eli Ben-Sasson’s bold claim that Bitcoin’s 21 million cap is flawed has ignited debate: lost private keys mean usable Bitcoin shrinks over time, so he proposes a 4% annual issuance rate tied to population growth. While he still supports a hard limit, not the current one, critics argue Bitcoin’s divisibility and lost-key dynamics undermine the scarcity narrative. Some, like Michael Saylor, even see lost keys as a feature boosting rarity. Meanwhile, Zcash explores a burn-and-reissue model to preserve its cap, but Bitcoin’s consensus barrier makes any change nearly impossible.

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