Problems about update of protocol of bitcoin I am new to crypto. I want to ask if in the future, bitcoin has a significant protocol update, will there be a recycle (or some kinds of buy-back or repurchase?) of old tokens or an automatic update of the old tokens (perhaps done alongside with wallet software update, just guessing)? What if I hold bitcoin long enough, will the market price of the bitcoin using old token standard drop to zero since the technology become outdated?
I know some crypto projects are built on bitcoin. So how exactly do these crypto project keep up with the updated protocol while maintaining the market price, and how do the bitcoin community and developers deal with these problems?
The general approach to Bitcoin protocol updates is to maintain forward and backward compatibility with the prior consensus rule set on the network.
In fact, Bitcoin's protocol stability is considered one of its most important properties, as it ensures that people can confidently store value and rest assured that their funds will remain accessible in the future. Changes to the system that would pull the rug under prior investors would meet extreme resistance.
Obviously, every user has to decide for themselves whether the perceived social contract is stable enough to inspire confidence.