mrflibblehat
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February 24, 2016, 07:49:32 PM |
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Can't the total number of bitcoins somehow be increased? 21 million is not that much when you think of it.
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fricircled
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February 24, 2016, 08:32:25 PM |
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Can't the total number of bitcoins somehow be increased? 21 million is not that much when you think of it.
There are 21 million bitcoins. There are 21 billion milli bitcoin. You can add many decimal point in the unit. |
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LuckyYOU
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February 24, 2016, 09:04:55 PM |
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No there is no decreasing, the halving will make it harder to gain bitcoins by mining because they are halving the block size but other than that there is nothing losing.
It can be decreasing of course but this is due the people that are losing their wallet or forgot they have one or because of the people that died and had bitcoins.
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aardvark15 (OP)
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February 25, 2016, 02:08:48 AM |
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No there is no decreasing, the halving will make it harder to gain bitcoins by mining because they are halving the block size but other than that there is nothing losing.
It can be decreasing of course but this is due the people that are losing their wallet or forgot they have one or because of the people that died and had bitcoins.
Yes this is what I was getting at. People lose their wallets (private key) so those are lost and can never be recovered. |
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bonski
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February 25, 2016, 03:08:29 AM |
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No there is no decreasing, the halving will make it harder to gain bitcoins by mining because they are halving the block size but other than that there is nothing losing.
It can be decreasing of course but this is due the people that are losing their wallet or forgot they have one or because of the people that died and had bitcoins.
Yes this is what I was getting at. People lose their wallets (private key) so those are lost and can never be recovered. Yeah and if there is a big amount of bitcoins there and it will be frozen and lost forever and no one can able to retrieve it back. I think this is one of the reason why bitcoin's value sometimes decreasing, guys what are they using in measurements of increasing the bitcoins value? |
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Pitchblackroom
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February 25, 2016, 05:18:58 AM |
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Can't the total number of bitcoins somehow be increased? 21 million is not that much when you think of it.
There are 21 million bitcoins. There are 21 billion milli bitcoin. You can add many decimal point in the unit. Bitcoin can be split up into much smaller denominations than just "1 bitcoin" so even if there are dead coins then the denomination will just shrink |
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goinmerry
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February 25, 2016, 06:58:48 AM |
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No there is no decreasing, the halving will make it harder to gain bitcoins by mining because they are halving the block size but other than that there is nothing losing.
It can be decreasing of course but this is due the people that are losing their wallet or forgot they have one or because of the people that died and had bitcoins.
And some computers froze or forgotten. I remember that guy where he said he opened his computer again from storage and saw a whooping 11k bitcoin. I dont if it is real. But if it is real then he is rich now. |
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zPanda
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February 25, 2016, 07:05:28 AM |
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Definitely, since there could be deleted cold storage wallets or the private keys for a wallet has gone missing.
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fricircled
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February 25, 2016, 06:18:13 PM |
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I think in 100 years, there will be no more than 20 million coins left in circulation. Some will be lost.
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RealPhotoshoper
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March 19, 2016, 06:56:49 PM |
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Let me explain. Bitcoins are constantly being created (mined) but bitcoins are constantly being lost also. The number of bitcoins created per year is decreasing (by design) and we could assume that the number of bitcoins lost keeps increasing every year. If this is true, then at some point the total number of bitcoins available (not lost) would decease because more are being lost than being created. If it hasn't started happening yet, it will sometime in the future.
bitcoins are constantly being lost also can you explain to me,why are bitcoin being lost? i believe bitcoins amount decreasing because some old bitcoins dead,it why many bitcoin burial,someone already post burial bitcoin site. |
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Pab
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March 19, 2016, 10:54:40 PM |
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Number of btc is increasing every day but input of bitcoin will decrease becouse of halvng halving is whan mining difficoulty icreasing It can be hard time but before could be price pump
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jeffthebaker
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March 19, 2016, 11:05:04 PM |
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Let me explain. Bitcoins are constantly being created (mined) but bitcoins are constantly being lost also. The number of bitcoins created per year is decreasing (by design) and we could assume that the number of bitcoins lost keeps increasing every year. If this is true, then at some point the total number of bitcoins available (not lost) would decease because more are being lost than being created. If it hasn't started happening yet, it will sometime in the future.
bitcoins are constantly being lost also can you explain to me,why are bitcoin being lost? i believe bitcoins amount decreasing because some old bitcoins dead,it why many bitcoin burial,someone already post burial bitcoin site. Passwords lost, hardware destroyed, sent to wrong address, virus wipes memory, etc. etc. There are a lot of ways to lose your Bitcoin. In reference to OP- yes, I do think the number of available Bitcoins is decreasing, but not in the sense you imply. I don't think more Bitcoins are being destroyed than created, but I do think more Bitcoins are being hoarded than created. A large, large portion of Bitcoins out there are being hodl'd- these Bitcoins see a velocity of 0, and for all intents and purposes, are unavailable to the community and economy. |
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richmcrich
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March 20, 2016, 03:44:25 AM |
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The number of coins being lost and out of the circulation is high too, If you consider how many coins where lost or there private keys lost and that number is increasing with the use as well.
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honeyhtet
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March 20, 2016, 03:53:23 AM |
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The maximum number of bitcoin is fixed and the number of coins is halved every few years so there is a stable degree, I don't think it will lose or decrease in number since it's already designed before.
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pooya87
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March 20, 2016, 05:30:44 AM |
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Let me explain. Bitcoins are constantly being created (mined) but bitcoins are constantly being lost also. The number of bitcoins created per year is decreasing (by design) and we could assume that the number of bitcoins lost keeps increasing every year. If this is true, then at some point the total number of bitcoins available (not lost) would decease because more are being lost than being created. If it hasn't started happening yet, it will sometime in the future.
bitcoins are constantly being lost also can you explain to me,why are bitcoin being lost? i believe bitcoins amount decreasing because some old bitcoins dead,it why many bitcoin burial,someone already post burial bitcoin site. that is not bitcoin burial, it was bitcoin obituaries. it is how many times bitcoin was called dead it is an FUD attempt not related to this at all. bitcoin lost forever means losing the private keys to a bitcoin address with bitcoin in it. since nobody can access it without private keys it means they are lost or out of the circulation. it is similar to burning a $100 bill for example |
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n0ne
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March 20, 2016, 06:38:35 AM |
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Number of bitcoins is not decreasing, the circulation of bitcoin might have got reduced due to holding of large number of bitcoin by users.
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armansolis593
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March 20, 2016, 01:30:56 PM |
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Number of bitcoins is not decreasing, the circulation of bitcoin might have got reduced due to holding of large number of bitcoin by users.
This is true,there are a lot of people that has been holding their coins and it will continue for several months until the halving comes. |
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aardvark15 (OP)
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March 20, 2016, 04:10:04 PM |
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Number of bitcoins is not decreasing, the circulation of bitcoin might have got reduced due to holding of large number of bitcoin by users.
This is true,there are a lot of people that has been holding their coins and it will continue for several months until the halving comes. Even if the number of bitcoins is not decreasing now, it seems like it will have to be in the future when there are very few being created. There will always be coins that get lost due to lost private keys, people dying and no one knows the private keys, crashed hard drives, sent to wrong address, etc. |
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romero121
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March 20, 2016, 04:33:06 PM |
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Bitcoin price is increasing without much fluctuations. The decrease in the available bitcoin is just due to the accumulation did by very few users.
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maxj57634
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March 20, 2016, 04:34:17 PM |
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Number of bitcoins is not decreasing, the circulation of bitcoin might have got reduced due to holding of large number of bitcoin by users.
This is true,there are a lot of people that has been holding their coins and it will continue for several months until the halving comes. Even if the number of bitcoins is not decreasing now, it seems like it will have to be in the future when there are very few being created. There will always be coins that get lost due to lost private keys, people dying and no one knows the private keys, crashed hard drives, sent to wrong address, etc. It will be good if the number of bitcoin is decreasing as it will also affect the price of bitcoin as the supply is getting less then the price will go up. |
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