Bitcoin Forum

I am not sure that this section is right to post my thread .
my question is :
since it was already fixed by the bitcoin owner network that 21 millions bitcoin can exist in the whole internet
But now I heard that now the mining of the bitcoin will be unlimited , I mean unlimited bitcoin will generate by the bitcoin network .
If this is real news then  the value of the bitcoin will go down speedly
It is because the supply is unlimited so it is simple to say that bitcoin price will no more increase rapidly ., so no more profit

what's your thought guys ???

Bitcoin Unlimited does not increase the number of coins.
Under this new client, there will only be 21 million coins. The reason why it is
called unlimited is because it allows the potential to create a block that has more
transactions in it. Current protocol has a limit of 1MB. This new client can be 1MB
to unlimited, if the network participants wish it to be so. Bitcoin Unlimited does not
increase coin supply.

Also, this thread was posted in the wrong section. Please move this to "Bitcoin
Discussion" or "Beginner Section". On the bottom left of your thread, there is move
button where you can move your thread to those sections. This is the Legal Section
and your question does not pose any legal aspect.

There will indeed be a finite number of coins issued, as you have stated, but miners will still get fees from the solving of blocks, even after coins have stopped generating. At this point, the fees will probably be more profitable than mining for block rewards, given the price of bitcoin if it survives that long.

You mean the supply of the bitcoin remain maintained in the market according to the demand to make the stable market of Bitcoin .
Thankyou to tell me to move the post in right section

It means after second halving we will get profit of less fee to make transactions . It is awesome . thanks to explain me.


but still my question not accurately got the real amswer , so here I will not lock this thread .

What I am saying is, Bitcoin (Core) now has 21 million total coins allowed to be mined.
"Bitcoin Unlimited" if becomes the main implementation will maintain the 21 million total
coins allowed to be mined.

If both Bitcoin (Core) and Bitcoin Unlimited exists at the same time, there will be two chains each
with their own 21 million coins, BUT it is expected that after a short amount of time, only one of
the two chains will continue to exists. In this case, there will not be 42 million coins in the entire
economy, but back to the 21 million coins in the entire economy.

So, the supply of the bitcoin remaining in the market according to demand will change temporarily
UNTIL this situation is finally resolved and only one of the two bitcoins wins. If both exist at the
same time, the prices and demands will go up and down depending on different information.

The bitcoins will be two different ones (BTC & BTU) temporarily. When this happens, no one really
knows what will or will not happen with the value and supply in the markets. Some people are making
bets on what will happen, because there are different opinions and no one really knows.

I hope this answers what you were asking.

It won't build the number of coins, however, on the opposite side generating schedule is coded in the software and could be changed to make more bitcoin. Luckily, if anyone that could renovate it is explicitly boosted to keep up the point of detention as it is integral to our idea of and trust in bitcoin.

I think the issue of understanding this issue of bitcoin unlimited is due to lack of the technical knowledge about how the bitcoin works and explaining it does not make it simpler either by the those who understands it. My own is to ask that what will be the relevance if in the long-run it will still amount to one of the btc to survive and wont this btu be a distraction to the development of btc?...

Bitcoin Unlimited issues will always be present, especially if bitcoin price drops because of very negative news. The relevance if btu dominates market is to undermine dominance of bitcoin cores by creating different centralized and capitalist communities. This will indirectly disrupt the system that we apply now.

But the positive thing I analyze if btu is enlarge is easily accepted in various regulations such as forex market Because it will be more controlled and monitored.

I think this has nothing to do with unlimited bitcoin. Bitcoin still has a total of 21 million on the internet, and of course it will provide benefits for its users. I think, unlimited bitcoin is different from bitcoin.

I believe that real bitcoin simply can't be unlimited. How is it possible physically? No way, don't worry

Hi!

I do not think there is such a thing as 'unlimited' Bitcoin in its literal sense because the code of Bitcoin is hard to change just like that. It requires 90% consensus to change the code, and thus, it cannot be altered easily. All I know is as of writing, the supply of Bitcoins remains the same. Having said such, the price of Bitcoin will still increase given the fact that it has only a specified amount of supply vis-a-vis the number of Bitcoin investors.   

Bitcoin is decentralized. And because it is a virtual commodity, it follows the trend of demand and supply. When the supply is less than the demand, price must go up and when the demand is less than the supply, the price will come down. At present the demand for bitcoin is increasing daily.

On the other hand, miners will not run out of codes for use. The alphanumeric combination of bitcoin code is indefinite.

A big problem in bitcoin ???
Maybe because in some countries have not legalized bitcoin as a legal virtual money changer. Added to the government's concerns with the intense bitcoin activity that may disrupt the performance of international banks.
Thanks

Bitcoin is a test of a new currency that is still in active development. Although over time and the increasing use of Bitcoin is becoming more mature, keep in mind that Bitcoin is a new discovery that explores ideas that have never been done before. Thus, Bitcoin's future can not be predicted by anyone.
Thanks

Indeed bitcoin is latest innovation that has provided unprecedented exploitation, although the future of bitcoin can not be predicted but if we look at some facts that happen to bitcoin at least we have a sense of high optimism with the development of bitcoin in various countries and the increase of users Bitcoin is increasing, as if to give confidence to us about the future of bitcoin is getting brighter

i think the most important thing s the price of bitcoin, if the price of bitcoin will increasing from time to time. then it will become difficult for the people to hold a full bitcoin,they will only compromise on satoshi and even satoshi will be enough for them. for trading for investment and shopping also. and hopefully the price of bitcoin is continuously increasing.

I think it is still profitable there are about 70% bitcoins in circulation and such users demands will push and push its prices. Well if worse happens and bitcoin is not profitable, its time to abandon ship and look for alternative cryptocurrency.

If you see progress the possibility of bitcoin will continue to grow for now and the next few years.
Although we dont have a definite prediction about bitcoin, but at least we can see the facts with some countries that have successfully adopted bitcoin and declared its legality.
Thus there is still hope that bitcoin will continue to grow and will certainly benefit from bitcoin activity.

Is this related to bitcoin core and bitcoin unlimited issues? (Hard fork).
I think this only change the block, so BTC transaction process faster with cheap fee.
I still do not understand.

I believe that bitcoin price will be growing up

Maybe later this year, do you have any other predictions?

Its somehow pretty complicated because of the humor of bitcoin being unlimited only because of its name, the only thing that changes for bitcoin unlimited is the block, it utilizes the problems of bitcoin such as transaction fee and confirmation issue, having an unlimited transaction is what bitcoin unlimited features.

Bitcoin still has an overall 21 million on the internet, and of course, it will provide advantages to its users. For me, unlimited bitcoin is different from bitcoin. Definitely Bitcoin is the newest revolution which is providing extraordinary misuse, although the future of bitcoin cannot be foretold but if we aspect at some evidence that occurs to Bitcoin at least we have a logic of high hopefulness with the growth of Bitcoin in several states and the users of Bitcoin are increasing, as if to provide assurance to us for the future of Bitcoin is receiving brighter and brighter.

The Bitcoin software is still in beta with many incomplete features that are still actively developed. New tools, features and services are being developed to make Bitcoin more secure and accessible to the public. Some of these developments are still not ready for everyone. Most Bitcoin businesses are still new and not. In general, Bitcoin is still in the process of growing up.

The total value of the existing bitcoin and the number of businesses using Bitcoin is still very small compared to that it should be. Therefore, small events, trade, or business activities can significantly affect the bitcoin price. In theory, this volatility will decrease as the market and technology of Bitcoin develop. Never before has there been a self-created currency, so it's very difficult (and exciting) for what will happen next.

Indeed, the smallest transaction activity of the smallest bitcoin will inevitably affect the development of bitcoin for now and then but so far of course still has a good progress of bitcoin.

I take this very seriously, as it concerns the security of transacting. There will be a big sale before August 1st, after which we are not advised to trade and store Bitcoin in a trusted wallet. Possible bitcoin prices will go down.
I keep looking for accurate information.

Chances are that it could happen but all the bitcoin users certainly hope the bitcoin price does not go down drastically, and if you have more accurate data about bitcoin prospects on August 1, provide data from sources that can be trusted

Hello people, where in detail you can find out what to do if there is a Hard fork?

the limited supply of 21 million Bitcoin is becoming a big problem these days. because demand is increased while there is no supply or limited supply. 

the fee will play a bigger role in sustaning the bitcoin network. Miners will still get coins, mainly from fees.

that is stupidly wrong, the supply is there for a reason to ensure bitcoin scarcisity and make the value grow over time, if it was with bigger supply or worst with infinite inflation like doge, the value now would be shitty around $1

besides bitcoin is divisible and you can buy fraction, there is plenty for everyone

No.. Is Not Possible. bitcoin supply could not increase any time. It all time fixed 21 Millions for whole world in bitcoin network.

Yes your bitcoin prediction is right if bitcoin increase supply then bitcoin price will be down.

So don't worry about this bitcoin supply it's fixed for all time.

this is also the question in my mind for these past few days and yeah I thought that BTC value or price will decrease over the time because of nlimited generating btc by miners and other stuffs,,..
and I am reading some reply and comments and yet it answerd most of my question...

I think the number of bitcoin will not influence to the value of bitcoin if the number of users bitcoin also increase balanced. I just hope that bitcoin will survive in the future ant there are many people who intetested in bitcoin.

It's bad thing is it is 10th power 8 so if it is .002 then its price is 10 time less than .02. Thats a great problem i have! It increase or decrease 10 times.

i only think the reason will make bitcoin down is hackers or large price

The biggest issue of bitcoin in my opinion is network interruption or being in a "fierce debate" situation that affects bitcoin to be slower and more expensive to use.
Automatically, if the user does not exist then bitcoin has no value and if it has no value, the miners will not have a valuable value.
So all users must have an agreement and jointly promote digital technology that is virtual currency "bitcoin".

the way I see it is that adoption and regulation goes hand in hand. regulation should not stifle innovation

Maybe I missed this already being said...


You need to understand that the thing about Bitcoin being limited is that we may never seen that last coin. It's like a math problem that approaches zero, but never gets there. The difficulty never stops increasing. At some point it may take a year to mint one single coin. We just won't know till we get there.

In the most ideal world of cryptocurrency and Bitcoin, we don't need any regulations especially that one coming from the government because they are not basically compatible. However, we are living in reality. And so we have no choice but to make some compromises. In return for regulations, Bitcoin can be granted some legal status and can flourish under the same market...that is definitely better than being banned altogether.

The role of government is now required for security of transactions and asset security. we learn pda Country China, by doing ICO tires The government has been protecting its citizens not to make the wrong investment. But the impact of that we have restrictions and rules that apply.
I prefer that Bitcoin remain a symbol of freedom.

Unlimited Bitcoin generate not possible i think.Because now 21 million Bitcoin is fixed in my view.Of course BTC price is more rapidly increase.Because last six or seven months BTC is big increase.

21 million is a lot and it would not be easy to consume. Because it is in the internet and it could just return via trading and things that people do with bitcoin. Although it is not like gold where it becomes something different btc is just there where blocks just keep on transfering from wallet to another wallet.

I suppose that the biggest problem with bitcoin is that most people don't understand it.This problem is large, but solving it is easy. Most people only need to know how to use it. All currencies are complicated, like dollars, but once you use them a few times it feels like second nature. People will be a bit awkward using bitcoin at first, but they will get the hang of it. Most people don't know how U.S. dollars work either, they just know they can spend them, how to spend them, and if they are lucky, how to make them.

Maybe Mr.OP have understand Some things about how His Question Confuse Him on the post Stated In Few pages. Mr.OP,  Don't Really Worry about how these Things Will go, always understand That Miners Will Support on what they Really want to Support, But time to time always bitcoin Leads, if it lower down it's price it Grows up again X2 of the Price that takes Less down.

What do you see as the role of government? How the government can provide you against theft of your money? It's not real. The government cannot ensure the safety of the Fiat. I keep hearing news about how hackers broke into a Bank. With bitcoin will make it even harder. Bitcoin freedom not possible under regulation by the government.

The biggest problem is that right now the financial infrastructure that exists to handle transactions for other things doesn't quite exist for bitcoin.  If you send your money to a bitcoin exchange, how do you know that people won't run away with it?

This is impossible to know. But how is that different from Fiat? If you are sending a prepayment to the Bank card you have confidence that the person to whom you have sent the translation will not run away with your money? Scammers will use any methods to take control of your money. The only way to protect is to not use unverified websites and services.

The fact that it is in the test phase is actually creating positive signs about Bitcoin's future. It can be crushed under the brutal influence of technology in the case of static, but it is a very important feature for its development to be dynamic.

I do not believe that bitcoin is testing a new currency. First, people do not use bitcoin as currency. Most people use bitcoin for speculation. Second order is to run bitcoin in circulation a new currency you need to destroy bitcoin. Do you think monogamous would be willing to use a new currency if bitcoin collapses?

I do completely agree on your points on which bitcoin isnt on testing phase and its not really being used mainly as a currency and it wont really be considered as one and to be used of.I would say that this thing would really be only good on this range which it is good for new way payment system and in regards with investment purposes.Problems and flaws of bitcoin is always there but as a user of it then we should really know how to patch it up or getting used to it.

That's why people use escrow for secure your fund especially when bitcoin identical with scam
Since bitcoin is limited in 21 million coins, I fear nothing , the problem only will be bitcoin survive until 2020 or not !?

For sure it would survive on next 3 years and i would rather believe that it would able to survive until the last bitcoin would be mined which is on 2140 but well we are all dead on that year for sure.Scams cant really be avoided since bitcoin is indeed money and the problem about bitcoin is on scaling issues. Fees are high and transactions are too long to confirm.How much more if there are lots of people who do make use of it for sure we would really suffer such delay and high free transactions.

In essence I think there's no a big problem in bitcoin, it's just we alone or the people that enlarge on that's problem I guess.

When using a Bitcoin client for the first time it takes HOURS AND HOURS to download the freaking blockchain and it is only going to get worse over time, especially as micro-transactions become more common.

no it is not. Asic farms has made that thought process wrong for quite some time.
The only coins that are truly decentralized are the ones that require GPU mining only; for the time being.
Give it time (profitability) and someone will be running a farm of thousands of those as well.

oh and on the subject of 21 million coin supply, that is wrong as well because people have lost their coins, satoshi's have never left his/her wallet so there will be less than 21 million always. Unless someone crafts code and forks bitcoin to regenerate those coins, it's impossible to have 21 million coins in the supply chain.

I didn't read about the unlimited generation of bitcoins but if that is true then yeah i also think that the price would stop increasing at some point and there will not be rapid increase in price like its happening now. But,I just read about this topic and there is still no news about unlimited generation . So, please post the link where you read this.

This is nonsense. This can not be. Now many online spreading false information about bitcoin. This is no exception. It seems to me that the biggest problem of bitcoin is the fragmentation. Users, developers and miners are not able to agree among themselves and this may cause the collapse of bitcoin in the aftermath.

we have less than 21 Millions bitcoin so we have  limited supply not "unlimited" . but when can divided bitcoin into small parties MBTC ,... sat.

so we have unlimited satoshi (huge number) will make bitcoin survive in future  

The OP posted this back in March, I think this is in the middle of the scaling debate, and I think somewhere there is a lost in translation here. Maybe what he read is another FUD created to wreck havoc on investors mind to dump their bitcoins.

But for sanity's sake, this is not true, bitcoin has limited supply of 21M and there's a total of more than 16M already in circulation. And if you look at the price is not going down but the opposite is happening. Bitcoin reaching another all-time-high.

I think by now the OP has already ranked up and already knows that his believed is not true at all. And for those who have read this thread should not be believed on such statement but do their own research.

I think there is no problem in the company and management of bitcoin because they provide excellent service to the customer with good feedbacks.
If there is one thing that the customer concern is the price always fluctuates which you do not know when it will goes up or down.

So far so good, as of now I can't encountered bitcoin problem in terms of job and services, because this coin have a good reputation in the digital currency world so bitcoin was taking care of it. Moreover, I can't also meets person who have reclaimed regarding bitcoin and other crypto currency.

In additional most of the people now are happy this month, it is because bitcoin are continues increasing in the market, I guess it will continue for long period of time due to healthy movement of bitcoin in crypto currency industry.

Agree I have also no problem in bitcoin, since I started in crypto currency world. Maybe those people who got problem it bitcoin community is a cheater or else they were violate one in the terms and conditions of bitcoin.
Aside from that there were no reason to have a problem in bitcoin community because this is legit and trust worthy. I guess some people are encountered bitcoin problem when the price of bitcoin is going deep because they were a panic seller.

I don't think that idea of limiting bitcoin of 21 million will be imposed. We know that bitcoin is volatile. Miners will complain about this if this is true, we know that miners are the number one supporters of any segwit and hardfork of a split coin but after showing new coin they come back to bitcoin.

I agree with some reply post here that we really do need to research for us to understand deeply. Since some information's in internet is for fraud only.

The value of bitcoin will not fall quickly therefore, the miners have a very important function that is matemati calculation, the mathematical calculation is to verify the bitcoin transactions that exist on the Internet. so the reason why miners are made unlimited is because more and more bitcoin users are making transactions and of course they want speed in transactions nah that's where the important role of miners.

According to your statement that would be a great problem in bitcion. If mining in bitcoin will be unlimited of course it will affect the price of bitcoin and no investors will be interested to invest.
 But I think that bitcoin is the most supported by miners.

There is no possibility of impairment because mined blocks are also more complicated and difficult, many miners need in this case. If the miners are restricted it will disrupt every transaction because if bitcoin becomes popular it will be full of daily transactions that will not be completed in a day.

The total 21 million of bitcoins will be mined hundred years from now on so why you have to think and worry with this problem anyway?

Miners will still mine anyway when the total supply of bitcoin has reached, they will mine for the confirmation and will earn through fees.

We have to take time for resolving the current issues that we are facing and that is with the miners fee, it is too high now since the value of bitcoin is starting to increase too.

I guess you got your answer. But as a summary, when the miners increase the amount of coins they get from mining decreases.

Perhaps to negotiate with the miners will be very difficult. They don't want to lose revenue. I don't know how to solve this issue. We are constantly faced with the problem of what creates a great place to confirm transactions. To this nebylo need to increase the block size. Maybe next year it will be job No. 1 for developers.

In my almost a year experience with bitcoin, I did not encounter any problem from them.
In fact they provide an excellent quality of service to their customer which we very much appreciated. They make our lives more convenient and easier than before.

This is why we do see lots of forks into bitcoin itself just to address or trying to resolve this issue but ending up i dont see any significant changes which i do treat that those are just being created for free money. We shouldnt really bother at all regarding on the total supply if completely mined since we would really be already dead on that time for sure. The thing here is that miners wont really consider on lowering fees since they are really making some serious profits on here and come to think of that business is business no matter what.

yes number of coin will effect directly in price now we lave less than 10 Million and price is about 17,000$.

it is not bitcoin number is limited and can’t be more than 21 M

The basic issue was that there are parts of the bitcoin that are "secure" and can't be changed.  And parts that aren't.  The problem was that Mt. Gox was using the insecure parts to keep track of who had cashed out a bitcoin.  This meant that someone would get a bitcoin from Mt.

I don't know on where are your words came from since you are already a Sr. member and still you don't even know bitcoin yet fully. Bitcoin isn't a company nor do being managed by someone. Its a decentralized thing or uncontrollable which means no one would able to make actions on how it was being designed by its creator. I don't see any news regarding on adding up the supply of bitcoin,knowing that it isn't even being completely mined yet and now we are talking on adding it up?  Impossible thing.

The big issue here is bitcoin is under investigation of the governments because terrorists or illegal activities are done by bitcoin transactions, and fee are getting expensive. one thing i have bitcoin it's getting slowly when you transfer coins and receiving as well.

Bitcoin is now a transfer tool, the biggest obstacle to Bitcoin being its currency; speculators. Yesterday, the case of this situation, if Bitcoin was under 10k dollars, all investors would swear by speculators. Bitcoin speculators currency :)

I am curious about the amount of lost bitcoins that are left in the forgotten wallets. You guys have an idea about the amount of lost or forgotten bitcoins total? I think there is no way to learn the real lost bitcoin amount

Yes I agree with you, at least for me and my experience I don't found any problem with bitcoin.
Bitcoin is can more people to get income and learn how do invest. They can learn many thing about cryptocurrency.

This is clearly an inside job,more probably a combination of banks after having majority of bitcoins with them.

If you are just seeing it as a source of potential income then there would be no problem since bitcoin can really give that opportunity to us but seeing on its usage side which is money transfer confirmation times and its fees for sure you would really able to feel the big problem into it.I don't know why have been mentioned that its like bitcoin is a company. It doesn't have and no one control its which isn't really appropriate to say excellent quality service.

Woww .. !!
Is not the amount of Bitcoin available will not exceed 21 million.
I've been told to see how many Bitcoins are circulating here: https://blockchain.info/charts/total-bitcoins

I think the big problem of bitcoin now is the transaction itself its too expensive and not required for micropayments and the transaction in the blockchain is very slow it takes hours to get that or sometimes 2 days or more..

In m almost a year experience with bitcoin there is no such thing that leads to a big problem.
In fact the company and management of bitcoin provide solution in our all problems. They help us to have options on how to earn money which will serves as a step to become successful in future.

As far as I can remember, the lost Bitcoins are quite high, about 3.5%. This is actually worrisome, I think many Bitcoins are missing due to user errors. Bitcoins that are sent to the wrong adrese do not enter this group.

In my many years with bitcoin,  I do not encounter or experience any problem with their services. 
You know what, the best thing with bitcoins is they not provide problems they provide solutions in all circumstances which will make your life more comfortable and convenient  as well. 
They help everyone to live in a life without worrying anything.

Here is an outdated list of lost bitcoin, heists, thefts, hacks and scams: https://bitcointalk.org/index.php?topic=576337

the big problem in bitcoin is the conversion fee of it and the process of it in the blokchain , because many users encounter a traffic in transferring bitcoin to their Wallet, for me that is the big problem of bitcoin.

I don't know on what you are saying but bitcoin isn't a service or do someone who manage since you do make use of the word "they". Bitcoin is just a digital currency which do acts the same as local fiat but just do work online.Its a money since it do have value which means it can really give the chance on making our life convenient in terms of financial stability or freedom but would still entirely depending on how we do accumulate or earn it. Havent you experience the hassle of tx and confirmation times nowadays?

That's correct. There are estimates but those are based on the activity. If there were no transfers in or out of an address for years it's usually considered lost. IMO it's a wrong approach because many people hold their cryptos for over 3 years and we simply can't assume that their money will never be moved. On the other hand coins that were mined and never used in a transaction since 2010 or 2011 are most likely lost, like those from the stories of people who mined some coins and got their whole drives damaged or thrown away.

There are said a little problem or a big problem, honestly.. for me personally i don't really feel there's a big problem. I just thought & still rate that bitcoin as an alternative way to earn money or to get profit without a big problem.
And I'm sure over time, all the things that are said a small problem or a big problem in bitcoin, this would be get reduced or get better on bitcoin itself.
Even maybe the all goverments of each countries would be rate+regulating.. bitcoin is a special thing and worth to be legalized as a alternative currency considering of its advantages.

In my longer years here jn bitcoins there is no any circumstances that the company gives me problems or any delays at all.
 In fact they provide solutions in your personal problems and helps you to become more wealthy in future.  Bitcoins give you a better life wherein you are financially stable jn future.

I agree the bitcoin inventor really gives a lot of opportunities so that everyone in the world can enrich themselves and not rely on his government. but as good citizens we have to pay taxes. through earnings from bitcoin we set up a real business when already have our income pay taxes.

On of the big problem in bitcoin is that the battling between being legal in the eyes of the law since their are a lot of people specially those narrow minded and selfish people who wants to ban bitcoin.

Unfortunately, there are some problems in Bitcoin, and this has negatively affected for users of this currency. As well, the biggest problem is the governments refused to recognize Bitcoin, as a dangerous and illegal currency. Although this decision is incorrect.

On the other hand, most users are afraid of this rejection, so they used this currency in a secret way. Moreover, I think that this rejection is temporary, because this currency is in continuous development and the countries are facing an economic crisis, so it is certain that after a period of time they will resort to recognition of Bitcoin.

Thats not a big problem for bitcoin,If they don't want to accept or even regulate it this is a Goverment's problem,because they will lose opportunities to develop technologies in their country and  not only technologies,its providing other forms of social life and this will be very helpful for infrastructure and aducation too.So I don't understand why d people afraid of govermant because of bans,if they want to ban cryptocurrencies this ban may be effective only in one situation,if there is common approach but its impossible.so the problems which we see may not as serious as it seems...

The bitcoin running number is limited,it will not keep to publish all the time,it is sure for them to control the bitcoin price by many ways.
In addition,that is impossible the price will drop down so fast it is unreasonable. :)

A big problem in the bitcoin market I think is the market control of people who are holding large amounts of bitcoin. When they own a large amount of bitcoin and they suddenly sell a large amount of their bitcoin, this will greatly affect the volatility of the market.

The problem is that the big players run the market, if it was not - it would be more interesting

I believe that bitcoin has many problems as well as benefits. For example, when the price rises, you can see people selling their bitcoins to gain profits. Therefore, the transaction fees also rise, not to mention that you can wait 2 weeks or one to get a confirmed transactions.

It is quite troublesome for me to pay high fees when I do not need much money. Another problem is its stability. As a matter of fact, bitcoin has never been stable. It always increases and decreases and you cannot predict its next movement. It is playing monopoly with us.

I just learnt something new from this. I never knew that there's a Bitcoin Unlimited. I only know of Bitcoin (Core) and the other forks. I guess I need to read more on this to understand this technology better. Thank you for taking your time to explain this.

if a government decides Bitcoin is bad because reasons,keeping your energy footprint and bandwidth consumption low makes it easier to hide the existence of a fullnode.The local power company is usually a government-controlled company reporting directly to the government.

The big problem about bitcoin is due to PEOPLE are not being contented all the time, when the price had just reduce to 1% a lot of people already screaming and asking what is the reason, then reduced by 10% they are crying and more than 10% they are so sick and mad as if this is the end of the world without even analyzing first what is happening.

There is no problem in bitcoin, it is just US who are making trouble from it.

Absolutely correct. When market is going up no one ask what is the reason and whatever they are getting they are happy with that but we should bear in mind that thing which is going up so fast can fall down even so fast So cheers!

What problems can be in the system cryptocurrency?

It true...Big mining pools got a lot of Hashrate distributed among themselves which make Bitcoin more centralized.
https://blockchain.info/pools ..Check out this link to understand an estimation of hashrate distribution amongst the largest mining pools. It briefs the whole story how players are controlling market as well as Txn fees.

getting ahead bitcoin prices will be higher and make bitcoin fees more expensive because the default fee is 0.0001 btc. even in exchange fee fransaction can reach 0.002 btc, its crzy expensive for only transaction fee. that's the biggest problem of bitcoin I think, because how can bitcoin be the world's currency or payment method if the cost per transaction is so expensive? do you think this problem can be solved?
for an unstable price I think it's a natural thing because it's been from the beginning that bitcoin is volatile

It is already given with that kind of fee that it will really cost a lot, but don't worry cause the benefit that you are having here is much more than what you are earning in your regular job right? So, we should not complain as the transaction is fair enough for me.

Another problem in bitcoin is that we as a person because we are not contented in what we do have or kept complaining about everything, that the price goes down what is happening, so much screaming around the forum whenever the value of bitcoin is decreasing, why not just continue promoting it and hold what we can so that  we can help bitcoin even for a little and not making any noise that would lead to a public panic to those investors/holders.

You were right buddy, we are only seeing the negative factor on how transactions fee ruining our day without even thinking the net benefit we are gaining here, we should be considerate as exchange or any wallets cannot operate well without enough funds. Let's think twice before complaining, let us put our shoe on each situation, for me I'd rather spend expensive transaction rather than receiving nothing.

Well, the problem about bitcoin is no other than is when will be dump. I believe all of us will have a problem when the of bitcoin is super low. We dont want to know that bitcoin is low price. We want the higher price.

I don't think that's a big problem.. comrade, I think that's more to the selfishness of us and it's indeed really humane if it's felt, but it's not a big problem. We know that prices really changes without us guessing and it's already the nature of bitcoin / cryptos, we really should be able to examine the price movements to gain profit in investing.
Well there's still something more trouble than that, like some of the negatively things that many people are still doing, until most governments still see it as unfeasible if it's legal and will have a bad impacts on the country.

All you get rich quick noobs want to see a constantly higher price, and you guys are also the group that complains about the price going down due to a perfectly normal correction. All the long term holders don't complain at all, don't you see that? It's always noobs who are complaining about Bitcoin going up or down -- it just shows how people here think about one thing only, and that's the price. What people failed to understand during the correction this year, was that even at its lowest point of $6k, the price was still 500% up compared to the price exactly one year ago. People see problems where there aren't any problems at all....

Unstable prices have made people worried about bitcoin, it is difficult to predict the current bitcoin price

why do you think that its a big problem in bitcoin?It may be the right opinion for you but I know a lot of people who don't care what will be the bitcoin price in the future,because  they know how people value it and therefore its not as difficult to predict the  price of it in the future...
Today,Bitcoin is one of the tradable product and people in every sphere are talking about this,they just want it for their social-economical purposes,its so simple,I mean that it is one of the determinant detail of what you said,It may not be the absolute determinant but its axiom...

That a big problem that OP was stating was actually an advantage to some people, and in fact their life had change a lot because of the unstable price of bitcoin some were doing the buy at low price and sell at high price so it is just a way of strategy how you make earnings here.

Blockchain has an environmental cost
Blockchain relies on encryption to provide security such as building consensus through a distributed network. This basically means to "prove" that the user has permission to access to the chain, a complex algorithm must be run, which requires a large amount of computing power.

This is the most affecting price of Bitcoin. As more and more investors are selling Bitcoin in bulk, the price of Bitcoin will go down. Actually, very many factors that cause the price of Bitcoin to go down or up.

The OP said that bitcoin is unlimited but he misunderstood, the bitcoin supply will remain same.
Let say if there is more demand for bitcoin, I'm sure bitcoin value will keep increase over time but I can see with bitcoin current value , it's still struggling because there are many bad issue for bitcoin in this 2018

OP misunderstandabout the supply of Bitcoin, but Bitcoin is very limited supply that's why the price is increasing. People are holding the Bitcoin in order to increase it's but in the year 2018 it is facing lot of issues.

Lack of Rules of Creating a Risky Environment
Again, this is mostly a bitcoin problem or another blockchain based network. Due to lack of regulatory oversight, fraud and market manipulation are common. Among these cases is Oncecoin - recently revealed as a ponzi scheme that is believed to have robbed millions of investors' money who believe they will be "next Bitcoin".

Why don't you check the market cap daily because most of the people are not willing to sell their Bitcoin for cheap prices because they bought them at the higher prices? People are willing to hold the Bitcoin as long as possible to make more returns on their investment.

BitCoin evaluates it as being limited because it increases its future value.

There's a lot of truth in this. I've been watching this play out for years and it's mostly the same people trading, that's why every new buyer on the market is slowly pushing the price up and we're growing every year. What is growing? Everything! The number of addresses, exchanges, users on existing exchanges, price, market cap, everything is going up in the long run. The only thing that managed to cause this recent shaking is the MtGox sale. A lot of previously held money entered the market at the time when prices were declining. A completely unreasonable thing, a random dump that started the panic.

"Hi im Tai Lopez, and i trade on Bitcoins"

In my thinking, this system was form with the people who are intellect. I do believe that before they launch this digital currency they already have in their a new scope of whatever happens in the coming future. The whole system was finished already. The operation can exists when time comes base on what they have planned that still they are the one who can manipulate this crypto. Now if we talk about this speedy decrease of bitcoin price nor the value I suppose to assume that it was planned already before launching the system.

a problem in bitcoin, is not the bitcoin itself but the people investing and holding on it, some negative people kept on exposing some fake news and those negative investors/holders once they have seen that the price change even for a little they are screaming and that creates panic for some people.

Total amount of bitcoins won't rise, don't worry

If the developer wants to increase the maximum supply then they can do but I don't think it will never happen.Bitcoin mining is not unlimited the difficulty level will change accordingly so last bitcoin will be mined at 2140 as per the calculation but still miners will work and they will get rewards from transaction fees.

To run the mechanism of issue in bitcoin it will be tantamount to that to destroy this coin. What fool would do that? You don't have to worry. The number of coins will be limited to a figure of 21 million. Moreover, it is no secret that sent bitcoins to non-existent wallets, loss of access codes will reduce the number of coins. This means that bitcoin is doomed to a constant rise in prices.

Worrying would just lead you to panic, and if someone saw you on panic mode then it will spread just like a disease, so don't panic guys as this will just lead you to not achieving your own goal, remember panic is the one making block for you to get rich.

I have seen a lot of posts about bitcoin's price and people are scared about this,I just want to say that,In countries where are the great economical indicators and less social problems even there are great economic fluctuations,its Inevitable process,just imagine in another situation there would be no progress because its an economical axiom.I just compare it to bitcoin's price and I believe that its temporary because its possibilities are not exaggerated...From a theoritical point of view,after fluctations there are always progress and also after a great revive there are  always temporary fluctuations which as I said is not as bad as it seems and there,We had historical evidences and I don't understand after that why do we need talks about this.

That scared from one person is just like a virus that spreads rapidly to some people and if you are a weak person or in doubt about bitcoin so the virus will spread in you and becomes panic, that is why we need to have a full blast of knowledge so that we cannot infected by negative vibes of some people.

Op i don't believe it real that mining Bitcoin is unlimited for satoshi has already set the limits i don't believe that anyone aside Satoshi himself can change Bitcoin availability beyond 21,000.

Unlimited production? No, that is incorrect. If it were true you would be right, but there will be almost, but not quite, 21 million bitcoins produced.

I totally agree with your opinion. I think what you think is very true. If the amount of Bitcoin is unlimited means that the price of Bitcoin will also decrease. I hope the amount of Bitcoin remains limited so that Bitcoin can survive at high prices.

Then how much the approximately total amount of bitcoin overall? I guess bitcoin now less than that 21 million supply there is some lost bitcoin that unclaimable due to lost private key or even dead owner that no one knows how to claim. Another factor that bitcoin lessen real amount is just they are many holders now that who trust bitcoin.

 Many problems to occur, a new electronic currency, perhaps one vouchsafed in a more transparent way, might arise. If the people who found Bitcoin useful for its anonymity, virtuality, and globality were to switch to this new currency, the value of Bitcoins would tumble. The reason is simple: Bitcoin’s exchange rates with other currencies depend on supply and demand; if no one wants Bitcoins, they’re worthless. And Bitcoin need not run into trouble for a new currency to appear.

Even Satoshi himself cannot change this rule. The program code is made so that bitcoin will not be created after 21 million coins. But why do people think that miners will lose interest in bitcoins after mining all the coins. They will earn money for confirming transactions. When the price of bitcoin is large it is very profitable. Restrictions on the number of coins in circulation will only increase its price.

To mature all Bitcoin it will take lot of time, may be another coin will become more popular for mining. We don't how people are going to react for the market. I think the second option we have after Bitcoin is ETH.

Bitcoin Unlimited probably could have been named a little better, to avoid confusion from the implication inherent in the name.  No matter what naming convention, language etc., though, there will always be some confusion about what is actually meant.

It's fairly straightforward and easy to understand as long as you remember to read passed the headline.  The "unlimited" part references the transactions, not the number of bitcoin.

One of the big problem that I am seeing about bitcoin, is the people itself, because they are just after the money that they will benefit from it, they don't realize one of the reason why bitcoin exist and that is to be able to help and make change in the economic system and make the society cashless.

First, let us get something out of the way, bitcoin total supply is not unlimited but limited to 21 million bitcoins that will ever exist!

Once these 21 btc coins are mined and owned by different people from all over the world it means demand will still be there and miners will still make their money and FYI price is even likely to increase more when all coins are mined as people know their availability is not ganranteed as some coins will be lost forever pushing prices higher.

Yeah, true, I was kind of trying to tiptoe around that I guess.  It's always the people, that do not take the time to read the article, that take the misleading clickbait kind of headline, in this case, the "Unlimited" part, assign their own meaning to it and run with it.

A lot of people that are just after the money that they can gain here without considering what bitcoin can do more for them if they will continue to support it and continue to hold what they do have or even promote this for some people.

What will actually lower the volatility of bitcoin is a better method of connecting bitcoin wallets to Wall Street banks and their abundant investment capital.

Financial risk. Another risk associated with Bitcoin is the value of this very famous currency itself is very volatile. In early January 2013, for example, Bitcoin is priced at 13 US dollars per chip (1 BTC). That number rocketed to more than 1,100 dollars a chip in December of the same year, then trimmed to only half (about 500 US dollars), just hours after the ban on Bitcoin transactions in China.

That should not be a problem anymore as we all know that already in the first place, the big problem here in bitcoin are the big manipulator of the price, those whales they are making a negative impact with the price and creating panic in the public that is why the value of bitcoin now  is much unstable.

Well one of the factors or problem of bitcoin is the volatility price of it the unstable price of it which the demand on marketplace going ups and downs, but some is bitcoin volatility is an open opportunity.
And the second I think the risk , taking the risk is part and bitcoin is a risky investment , sometimes because of risk it's taking a big loss to some , and some are big income. So what I'm trying to say it's normal to have a problem but this doesn't mean to stop believing bitcoin.

The volatility of the price was created because we don't unite with one decision, the perks and negative outcome of free to do decision here, but at some point that volatility of the price has been the reason for some people for them to get successful in trading.

The number of coins of crypto currency, which can be extracted all the time, is 21 million units. At the moment, users received about 60% of this amount. Each received coin is solvent. The currency, unlike ordinary monetary units, is backed not by gold and debts, but only by supply and demand. So do not worry. This quantity is not possible to increase, so to speak, limited.I found the information very interesting counting:
Every day about 3,600 coins are added to the common currency network. New arrivals cost users more and more difficult. According to certain data, now users have already received 13 million coins. Upper limit users will be able to reach around 2140
So we really have enough time)))

If that really happens I also think like you that bitcoin will go down and hard to climb, and I think the news is not true.

Again, this is mostly a bitcoin problem or another blockchain based network. Due to lack of regulatory oversight, fraud and market manipulation are common. Among these cases is Oncecoin - recently revealed as a ponzi scheme that is believed to have robbed millions of investors' money who believe they will be "next Bitcoin".

You do have some points but you are talking completely off-topic towards on the things being mentioned on op. Try to read it carefully once again and you might able to get the thought.
Back on topic, i dont think supply of bitcoin would really be added up since it is already being fixed by total supply of 21M coins and thats how being designed. Dont worry on mining it all because the last btc would be mined would happen on 2140+ year.

actually from the beginning of the occurrence of bitcoin has many several shortcomings. one of them There are threats that lurk these virtual money users. One of them deals with the issue of Bitcoin storage. not only that the erratic price becomes the second issue in bitcoin indeed the higher the price.

That also probably the reason for bitcoin problem, even though how many occur a problem in bitcoin but still this will exist to the community who embrace bitcoin. A big problem I think is the transaction process it takes almost 30 minutes when you transfer to another wallet.
But people they did not mind that as long as bitcoin will profitable and it is promising.

many countries have not legalized bitcoin as a legal virtual money  bitcoin activity that may disrupt the performance of international banks so this is big problem.

I think the biggest problem of bitcoin is the concept of this system is hard to understand that's why many people misunderstood of what bitcoin can do and this the reason that until now it is being banned in some countries because they doesn't have enough knowledge to realize bitclin system are good for our future.

I gues we have to take time for resolving the current issues that we are facing and that is with the miners fee, it is too high now since the value of bitcoin is starting to increase too.

Bitcoin's basics are very easy to understand, so that's definitely not a problem. If you for example go in depth and focus on how transactions are set up technically, then things are obviously different, but that's not something the mass thinks about or is remotely interested in. Once you understand the basics, and you demand more advanced usage, you'll educate yourself on that, which is how things work. No one forces the newer users to understand everything related to Bitcoin -- most people still don't even understand the internet, and that while it has been available for more than 2 decades. It also comes down to your personal will to learn something. If you aren't willing to invest even a few minutes of your time in understanding Bitcoin, you are just limiting yourself.

The bitcoin price lots of changes high to low its depond on marcket so its difficult know sometimes good or sometimes bed but i thought it is not problem.

I've discovered earlier that BTC has fixed limits. If I'm not mistaken only 21, 000 000 BTC can be issued and exist.

Even a teenager could easily understand this when in fact I have known some of teens just like me, so the way it is using is not a problem, what  matters right now is that people are doing some wrong things with it, and what most of us are afraid at is that the inventor can easily closed it all the time he wants but I doubt if it will happen.

21 million bitcoins is the emission limit. Ego the real problem is speed but if everything is decided it will go up  think.

We are not sure in Crypto its depend on marcket up down so sometimea maybe its big problem.

That is a sure thing that bitcoin will really grow up and we cannot stop it from getting to the moon, so if I were you just keep what you have right now, and spread this good news to all people that we met, in that way you are helping them as well as helping the bitcoin community to grow.

A single bitcoin may end up with a value of $ 100,000 or it may suddenly change to $ 0, but one thing is for sure bitcoin will not be trading at a constant rate in the long run. In that case, the critic's opinion that bitcoin fails as a currency today is true.

I guess in essence I think there's no a big problem in bitcoin, it's just we alone or the people that enlarge on that's problem.

I think the big problems of bitcoin are first is being prone to scammers, Second, are being hard to understand and learn, Third, are being unpredictable because you will not know when the price is falling or rising and lastly transaction sometimes are slow and transaction fees are high.

lack of consumer understanding of the subject. For all of its development, it is still difficult to explain to many people how bitcoin technology can affect their daily lives. so many people wasting opportunities or wasting money like at the time of tranding or others, are easily fooled by the various services. it is very christmas.

There will be only a limited amount of bitcoins available in the market, specifically, 21 million bitcoins. Due to this, the price of bitcoin actually depends on the law of demand and supply. Not to mention, its lack of any government regulation makes its value very volatile in the marker- making it a perfect investment mechanism for invesyors who are aiming to earn short time income.
Like gold, its quantity is limited, thus it has the potential of whales controlling the price. It depends upon the investors if bitcoin would still reign in the market.

an electronic currency that has a uniqueness that may not last long, because it uses a mysterious algorithm whose originator is anonymous. no one really knows whether the algorithm used can be trusted to generate the promised bitcoin number, or that will be responsible for errors or fraud.

I disagree, bitcoin concept is pretty straight  forward and not hard to understand. Please let us know what is misunderstood about it? Transaction fees? mining? If you are investors, you don't want to get into technical and don't make things complicated on your end. It is banned because nation or government as simple afraid of it because they cannot control it because of its decentralization.


What is so mysterious about it? everything is open source and you can check the algorithm anytime. We have mined 17 millions already and the 4 millions left will be difficult and it might take some time that's why it will last long.

I think, there are more and more different kinds of digital cryptocurrencies with more impressive features such as short blocktime, easy-to-mine,etc.

You have a point mate but i don't believe in the notion that Bitcoin will run out of the system since only 21M BTC were created. Remember that Bitcoin is still in the beta stage and there are yet more developments to be fixed in.

Yeah don't be surprised if many users prefer transactions using altcoin to transfer their assets to another exchange or make transactions with others people. because the transaction fee is cheaper than using bitcoin. default fee is 10k satoshi while bitcoin prices continue to climb up. of course the fee will continue to rise because of it. how to overcome this?

Yes thats true, theres a possible that the price of the bitcoin will rapidly down because of the unlimited mining!

As far as I know  you  cannot create nor destroy bitcoin in your own so there no basis that unlimited mining is means   unlimited unlimited supply.

In my opinion. the number of people who mined bitcoin is unlimited. but the amount of bitcoin we can mine is limited to about 21 million bitcoins. so now there are many altcoins that arise from the development of bitcoin itself.

I hope bitcoin won't down

It wouldn't happen! Basically every coins have its own limit. Therefore bitcoin will not dfo that to make it unlimited, the dev are not carzy and foolish to fall by their own hands.

Well that is already constant and that what makes bitcoin unique and the limited supply will make the price grows up more than we think could  be, since the more demand and limited supply the higher the price it could have so there is no doubt that in the future bitcoin will be a million dollar worth the problem I am seeing is that how people panics all the time the price dumps.

Bitcoin is a new discovery. Bitcoin is limited. 21 Millions Bitcoins can exist in the whole internet. Furthermore, Bitcoin is in progress and anyone can not be predicted & measure its future.

Yeah bitcoin has a limited supply while miner and bitcoin users are increasing that will make bitcoin prices continue to rise. bitcoin prices will not remain in one position only. You do not have to worry, fluctuations have become a natural thing in bitcoin. you will definitely benefit from bitcoin market, until whenever bitcoin prices will continue to change dude..

Of course this is a huge commission for transactions and a terribly slow network speed. I hope this will be fixed in the near future.

For me, the big problems of bitcoin are first is being prone to scammers. Second is being hard to understand and learn.

I think the problem of understanding this bitcoin problem is unlimited is because of the lack of technical knowledge about how bitcoin works and explaining it does not make it simpler either by those who understand it.
Bitcoin is decentralized. And since it is a virtual commodity, it follows the trend of demand and supply. When supply is less than demand, prices should rise and when demand is less than supply, prices will fall. Currently the demand for bitcoin is increasing every day.

On the other hand, miners will not run out of code to use. The alphanumeric combination of bitcoin code is unlimited.

I do not think that we need to feel that the amount of bitcoin is negative, for me it has more possitives and i strongly believe that thanks to that price will go up not down.

I don't think it's a problem with the limited amount of bitcoin reserves. because it will bring more expensive bitcoin prices. if the amount of bitcoin is unlimited. bitcoin will not be valuable. that's why bitcoin is more classy than others. besides other currencies also have a limit to avoid inflation

I have not seen any major problems with bitcoin. it's a bit bigger, but it's natural that the market is recovering, the size of pumping bitcoin and other coins in 2017, so it really happens that there will be market lows but gradually rising now, so there is nothing to more problem.

Again, this is mostly a bitcoin problem or other network based on blockchain. Due to lack of regulatory oversight, market fraud and manipulation are common.

where did you hear that? trust only reputable sources please.

in the first few months, bitcoin is facing a woeful situation, but we see that it's going to keep up and now reach $ 8,197.95 again so I think it's going to be continuous.

I think bitcoin has no big problem. It's normal just that coins happen, just like crypto. you can not always expect high. the currency is made for money and here you will find the stop lows of coins. nothing to worry about here.

Not a few among the main Internet users who wrestle the world of online businesses around the world who have known even come to use the virtual currency. But on the other hand with quite a lot of uncertainty such as the absence of real value guarantee agency from Bitcoin make many of the virtual community can not trust the virtual currency.

It won't build the number of coins, however, on the opposite side generating schedule is coded in the software and could be changed to make more bitcoin.I think the issue of understanding this issue of bitcoin unlimited is due to lack of the technical knowledge about how the bitcoin works and explaining it does not make it simpler either by the those who understands it.

A big problem in bitcoin is that people has no control with it, they don't know how to control their emotions, they don't know how to balance things, they kept screaming every time that the price of bitcoin goes down and kept celebrating when it goes up, we should know how our decisions affect the value in the market.

True, this is the normal situation that takes place in almost every coin on the market so there is no reason to worry about that in any time in the future.

I think it just increases your limit of usage but it doesnot increase the number of coins, so the your worry is out of place.

The big problem with bitcoin is that I feel a lack of trust, we know when prices increase they have different responses, some just keep quiet and sell lots of bitcoin and some celebrate, but when the price of bitcoin falls, there will be many people who panic and start spreading the issue negative about bitcoin, what I'm sick of is that they say "bitcoin is over" what's over? The conversation is always there when the market falls they panic and cannot control emotions well.

What I see is the big problem with bitcoin is that when it comes to other investors, we know that these months are dead. so some investors get their investment in bitcoin just so they can use their lifestyle. this is one reason why the price of btc drops and so on other coins.