Bitcoin Forum

 21million still hardcore on the bitcoin network. Price of btc also can hard core same as to the bitcoin network?

No one or authority determines the price of bitcoin, the price is affected by buying and selling of bitcoin. If more people buy bitcoin, the price will increase, but if more people sell it, the price will decrease. The price of bitcoin will always be volatile because of this. Unlike the supply which is set to be 21 million in total, so that it can be scarce.

The price of BTC is volatile but there are a lot of things ^{(which are the level of mining difficulty, news, halving aka 4years cycle, the level of the market demand and supply)} that influence or determine the market price. For these reasons, there's no way the price of BTC can be hardcore as the max supply.
The market has been volatile is the reason why BTC presents extensive opportunities to investors and holders.

What's up with this mania to calculate the Bitcoin price lately? Is this an alt account of Editbar (https://bitcointalk.org/index.php?topic=5416322.0)? Yes, there are 21 million coins, that's a hard-coded value. No, you can't hard-code the price, because it's resulted from both supply and demand, and demand is naturally never fixed.

Unless of course there is no populace. In that case, the price of bitcoin is fixed; 0.

It seems to me that there is already more than the maximum supply of bitcoins right now. The problem is that a lot of surrogates, various wrapped bitcoins, have appeared in different blockchains, which some have been buying and holding. People don't understand the difference between real bitcoin and fake bitcoin, so it seems to me that 'bitcoins' have long outnumbered 21M.

No, bitcoin total supply still remain 21 million. Those are not real bitcoin just like you said. There is nothing that has changed the total supply of bitcoin.

No. No one has the right to set the price of Bitcoin, except for free market forces. Anything else would make Bitcoin no longer Bitcoin.


Bitcoin's total supply is limited. This doesn't mean that clones and copycats can't be created, but they still won't be the real thing. Someday Bitcoin may no longer be the most valuable cryptocurrency on the market, but for now, this is a real deal - a battle-tested digital currency that is worth our attention.

That's right, the maximum limit cannot be changed. The fakes or forks are not the original, you can hodl  another version, but it does not change the total supply of bitcoin. Currently +1 million Bitcoin are lost, because the owners no longer have their passwords and in the next 100 years, there will be more. I think all of us know the story of the rubbish dump and the Bitcoin on the hard drive.

It all comes around with the supply and demand if you're asking about the price. I've read that satoshi came up to it for some reasons and basically, that's a good idea that he had come up with. Well, he's a genius and we've got less to be mined around 2M in supply and that will end up for the next 100+ years. Currently, there's already 19.1M in circulation and who knows how many are forever gone and can no longer be recovered which adds to lessening the supply and retaining its value.

I think there is an estimation that can be done.
The idea is that all fiat currency and all value in existance today will exchange into bitcoin. In this sense, I would say that if it is possible to quantitize all the welth in the world, under all forms, then, we just need to divide that value by the totall Bitcoin still available to have in circulation (not counting with the lost Bitcoins).

So, let's say there are 600 thousand trillion Euros of welth (completely random value) in the world, including real state, and all other forms of welth, we divide 600 000 000 000 000 000 / 100000000 and you get an estimate for what price Bitcoin could have in this scenario. Of course there is more to this, but without going into many details such asa money created from thin air, etc!

Maybe you forgot the whales that there are only a few people in the crypto world and they are the ones who set the price of bitcoin to go up or down. I as a small fish in trading certainly have to be careful, because market manipulation is very unstable and it sometimes makes me panic.

21 million (max supply) is actually not a hard-coded value in Bitcoin protocol. Bitcoin core has some checks included later but the actual max supply is never hard-coded as part of the consensus rules, it is a value that is going to be enforced through math which exists in the block subsidy checks and the halving rules.

As for price, it can never be fixed simply because what we measure bitcoin price in (ie. fiat) does not have a fixed value. For example these days that fiat currencies are dumping hard, bitcoin price is going up against them which wouldn't work if it were fixed (bitcoin would have dumped with inflation ridden fiat).

What do you mean hard core?

In any case yes, it's only 21 million and so far we have mine more than 19 million already.

For the price, it's based on supply and demand plus the traders around the world dictates what is the price they want to sell, and how much someone is willing to buy it.

Quite confuse with the relation of price of btc to bitcoin network. If you are asking about btc price and it will be depend on law of supply and demand. Market affects depend on the buy and sell of it. Too much supply(seller) can lower the price and vice versa if there arr shortage of coins to buy  demand will likely to increase.

The fact that 21million total supply is no longer intact is quite good since some btc are loss forever due to some human mistakes such as forgetting keys or other ways to loss access to the btc holding.

With time, we will have one way ending, not any in between the following twos:

• Bitcoin trading volume will be very huge next decades and continue its growth until 21M Bitcoin is mined totally; then price would be very high consequently
• Bitcoin trading volume will fall to zero and price will be almost no value at all.

Make sure you read following resources before you pick one from the two above

• Controlled Supply (https://en.bitcoin.it/wiki/Controlled_supply)
• How is the 21 Million Bitcoin Cap Defined and Enforced? (https://blog.lopp.net/how-is-the-21-million-bitcoin-cap-defined-and-enforced/)

From real data, so far I can see both trading volume and price increase a lot after each halving cycle, each four years.

Even though we believe that the so-called whales are sometimes responsible for the market price manipulation sometimes I do however believe that this is still the natural progression of the market. We will always see a bear and Bull season regardless of the whale's manipulation which might even affect the market in a short time and not as long as the Bull/Bears market last.