Bitcoin Forum

Pretty shocked to hear this tabled. But what do others think of the proposal to increase bitcoins supply above Satoshis preprogrammed 21 million supply?

I think it isn't needed to increase the bitcoin supply, 21 Million are enough, but if the number of bitcoin will be increased then the bitcoin price will not be as it is right now.

I think it would be suicide to increase it. Everyone bought into the idea of 21 millions coins and if that changes then its no longer "bitcoin". People will sell off and move to another coin. If there is ever a true need for more coins then we can add more decimal places and still keep the 21 million coins, but this would be years down the road from today.

Who tabled it? Wasn't it dropped as a scare tactic by someone? I think if it was implemented then most people are gonna look into migrating elsewhere. I know I would. That's one of the cornerstones and if it's gone then nothing's sacred. Before we know it it'll end up like a Paypal that costs even more to use.

If this ever happen bitcoin will be dead... Many joined bitcoin because of it's gold like property of limited supply.

In order for people to provide their opinions about this "shocking" proposal, we need a link to what you are talking about.
This has been brought up many times in the past, but I have never seen a "proposal".

Please provide a link.

if approved the price will soon dropped. 21 million is enough after all bitcoin has 8 decimals.

There is no good argument I have heard yet that increasing the coin limit would be a good idea.
21mil is what we all knew from the start and it should be set in stone.

Has anyone a link to such discussions?
Probably just a scare tactic by blockstream or another company.

This will be talked about forever but for now what are all the reasons to increase it?

Hear hear.  It would indeed be suicide.  I'm pretty ignorant and I didn't even know this could be done.

I just can't wait to install this software! Miners can't wait either, they love converting electricity to worthless tokens.

yeah, limited supply makes bitcoin has high price right now. if the supply is added, I don't know, maybe the price will be down, and we all don't hope that will be happen.

That will course fluctuations in the bitcoins, and the need for me to work for them and hold them will be unrealized, hence dropping the coin

My opinion, it all depends on the price. If at the time of the creation of 21 million Bitcoins price will be high, then this would be enough. But for what?
In any case, Bitcoin can also be used as an alternative, a second state currency. Besides, you can always make an alternative, such as a Dollar - Cent, Bitcoin - Altcoin.

Anyone can propose any shit they want to, but there are very little people who would agree on this. We could not even reach consensus on a bigger block size, what makes you think we will agree on a contentious subject like this, that are even more controversial?

The people who already invested into Bitcoin will never allow this, because it will severely influence the price and also rape the basic principles of the whole experiment. This is Bitcoin, we do not copy cat the fiat system by increasing supply, without valid arguments to substantiate the need for it.   

Link or it didn't happen

for me staking reward or full nodes reward is better than increase supply.
21 million bitcoin is enough to be 1st strongest cryptocurrency if bitcoin price reach $1000 again.

I don't like that idea. Like everyone else said above, we can just add more decimals.

There is absolutely no need to increase the coin cap as you can set your wallet to show mBTC or uBTC if you so wish. Stop talking nonsense. Coin cap is something no one should mess with.

Better to propose increase the bitcoins price forever to 21 million rather than requesting for more supply of bitcoins. :D
I don't think so this proposal will be granted.

can you give the link to this proposal?
i have been hearing people dropping this (that seems to only be a rumor) here and there but they have never provided any link about who proposed this idea? so i am wondering is it something developers proposed or some random people?

I think that would be a total disaster, I would prefer they decreased it but NOT to increase it. If Bitcoin was increased then the price would plummet and people would lose faith in it as a rare store of wealth and value.

so who want to burn his bitcoin..? i think decrease supply is not good idea, no people interesting to do it. and no people can control it, except satoshi nakamoto do swap from bitcoin to new bitcoin, and hardforking to new wallet.

Yeah. There really is no reason to get more than 21 million coins. The whole system has been designed for that amount, so we should just keep it that way.

Increasing bitcoin supply will not be good for the future pricing of bitcoin. If the supply increased suddenly, it will have a very serious impact on the bitcoin price and also it will take longer to recover.

Not happy with this proposal, it may ruin the interest of public about bitcoin and also ruin the hopes of better future price. Especially those, who are thinking short term profit.

The impact of more supply would be depending on the law of demand and supply.
It there would be more supply, the demand would become low and the price will decrease since people doesn't have difficulty to find more bitcoins.

Well if there is more supply and the same amount of demand, then it is also not so good for Bitcoin. The price would also fall with the quantity.

If we eventually have more than 21 million the price will be much lower plus much confidence on the coin might be lost.

Exactly. I don't know where this idea came from as I've never heard of any proposals to increase the supply cap. I did a little google search and no actual article or report is published on the first 10 pages.