NEWPORT BEACH, Calif., Dec. 17, 2020 /PRNewswire/ -- CMTLabs, stated today: The statement there can never be more than 21 million bitcoins is 100% false. The statement there will never be more than 21 million bitcoins, is only a calculated assumption based on the current mindset of bitcoin's consensus group. Bitcoin's protocol is consensus controlled by an ecosystem of participants which include developers, miners, full nodes, hodlers, investors, and merchants. In order for a proposed change to be implemented, the change would need to provide more benefit than harm to bitcoin's economic majority which is now the investors.
Bitcoin's currency fungibility is based on 100,000,000 satoshi's equals 1 bitcoin. By decreasing the fungibility to 1,000,000 satoshi's equals 1 bitcoin; the number of total bitcoins would be increased to 2,100,000,000. The main consideration is bitcoin's scarcity value proposition would not change. Scarcity is based on percentage of total supply, not units of measurement. The value to bitcoin's consensus group would be more buyer participation. Based on a bitcoin price of $25,000, a 100 to 1 bitcoin "split", the price of a bitcoin would become $250. All digital wallets with bitcoins would have the bitcoin price reduced to $250, but the amount of bitcoins in every wallet at a specific date and time lock down stamp, would be increased by a multiplier of 100. This could result in a tsunami wave of individual investors utilizing PayPal or Square to buy the $250 bitcoin. Retail investors would only focus on the fact bitcoin reached $25K and could possibly achieve the same price again. Miners would then receive 625 bitcoins reward per block every 10 minutes, not 6.25 and 90,000 bitcoins per day would be mined not 900. Block size, the 10 minute block time interval nor the mining software would need to be changed. If a 1000 to 1 bitcoin "split" was to be implemented, the total supply would be increased to 21 billion, 6250 bitcoin reward per block, 900,000 bitcoins mined per day and the price of a bitcoin would be $25.
CMTLabs, Inc. was established in 2020 to utilize over 20 years of experience providing independent certification services and a successful service token payment platform within the computer industry. From 1999 to the end of 2019, over 120 manufacturers, including Intel Corporation utilized CMTL service tokens to pay for 27,000+ compatibility certifications. 5000+ part numbers were tested on 800+ computer platforms from 50+ manufacturers. Over $1 billion of CMTL tested part numbers have been sold worldwide.