mindrust
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Activity: 3248
Merit: 2427
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May 01, 2016, 01:58:14 PM |
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Yes it is.
People always forget their passwords, send their money to the wrong address, get their computer broken etc etc...
The available number of bitcoins are decreasing every day.
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Transactions must be included in a block to be properly completed. When you send a transaction, it is broadcast to miners. Miners can then optionally include it in their next blocks. Miners will be more inclined to include your transaction if it has a higher transaction fee.
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traderbit
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May 01, 2016, 02:02:40 PM |
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It is a fact that the more time passed the more bitcoin are lost, but the number of bitcoin in total is not decreasing because many blocks are mined everyday which is greater than the lost bitcoins(sending to wrong address, lost private key etc..)
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actmyname
Copper Member
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Activity: 2562
Merit: 2504
Spear the bees
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May 01, 2016, 04:45:00 PM |
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There's no need to fear that the total supply will ever get expanded because:
1) It would instantly crash the price so there's no incentive to do so
2) It will never be a problem to run Bitcoin no matter how little Bitcoin's are available
SO in other words, Bitcoin will only appreciate with time, no real risks of holding long term, at least definitely not related to the total supply ever being modified because it makes no sense to do so.
Besides, there are so many bitcoins out there that losing however many we have right now wouldn't make much of a difference in the grand scheme of things. Especially considering how having a lower overall supply would in fact just drive the price upward, so it's a win-win scenario. |
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bittrojan
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May 01, 2016, 06:01:39 PM |
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i dont know,people mine bitcoin,transact it and using bitcoin daily,bitcoin just move from address to other address,just some bitcoins dead by losing private keys,its rare to happen.
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ICO investor. Miner. Bagholder Extraordinaire!
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raphma
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May 01, 2016, 11:15:58 PM |
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Yes it is.
People always forget their passwords, send their money to the wrong address, get their computer broken etc etc...
The available number of bitcoins are decreasing every day.
I dont agree.... saying that bitcoins are decreasing is the same as saying number of lost bitcoins is higher then generated bitcoins. and its probably not. |
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goinmerry
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Activity: 2940
Merit: 1083
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May 02, 2016, 01:06:11 PM |
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Yes it is.
People always forget their passwords, send their money to the wrong address, get their computer broken etc etc...
The available number of bitcoins are decreasing every day.
I dont agree.... saying that bitcoins are decreasing is the same as saying number of lost bitcoins is higher then generated bitcoins. and its probably not. Wait, wait. I dont think we are on the same page here. Available bitcoins are the one's being mined now right? Right this moment. Yes it is decreasing. I have read that there is a limit to the maximum mined bitcoin so if there is a limit? then it will be depleted right? |
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jaysabi
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Activity: 2044
Merit: 1115
★777Coin.com★ Fun BTC Casino!
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May 04, 2016, 03:08:00 AM |
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Yes it is.
People always forget their passwords, send their money to the wrong address, get their computer broken etc etc...
The available number of bitcoins are decreasing every day.
I dont agree.... saying that bitcoins are decreasing is the same as saying number of lost bitcoins is higher then generated bitcoins. and its probably not. Wait, wait. I dont think we are on the same page here. Available bitcoins are the one's being mined now right? Right this moment. Yes it is decreasing. I have read that there is a limit to the maximum mined bitcoin so if there is a limit? then it will be depleted right? Not exactly. There are 25 bitcoins created every 10 minutes. In a couple months, that will drop to 12.5 new bitcoins every 10 minutes. Then in four-ish years, it will drop to 6.25 new bitcoins every ten minutes, and so on every four years or so. As you can see, it will take a very, very long time before the number of coins being "lost" ever surpasses new Bitcoin creation. We are nowhere near it now, and we won't be for the foreseeable future. |
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fricircled
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May 04, 2016, 06:26:22 AM |
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Yes it is.
People always forget their passwords, send their money to the wrong address, get their computer broken etc etc...
The available number of bitcoins are decreasing every day.
I dont agree.... saying that bitcoins are decreasing is the same as saying number of lost bitcoins is higher then generated bitcoins. and its probably not. Wait, wait. I dont think we are on the same page here. Available bitcoins are the one's being mined now right? Right this moment. Yes it is decreasing. I have read that there is a limit to the maximum mined bitcoin so if there is a limit? then it will be depleted right? Not exactly. There are 25 bitcoins created every 10 minutes. In a couple months, that will drop to 12.5 new bitcoins every 10 minutes. Then in four-ish years, it will drop to 6.25 new bitcoins every ten minutes, and so on every four years or so. As you can see, it will take a very, very long time before the number of coins being "lost" ever surpasses new Bitcoin creation. We are nowhere near it now, and we won't be for the foreseeable future. When the bitcoin becomes more valuable, people will take care of their bitcoin properly. So the lost coins will be fewer. |
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praprata
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May 04, 2016, 07:52:45 AM |
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It can be possible because people are just holding on to there Bitcoins and not spend them this causes some problems because money has to go round. But people are creating Bitcoins by mining them. But I believe that more bitcoins are lost then created.
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JeanMcCoy
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May 04, 2016, 01:40:28 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.
So while i read this you mean we all have to mine more bitcoins or they will all be gone. But if everyone mines their coins there will be a limit and no one can mine any more or doesn't work like that? |
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Adrayrd
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May 04, 2016, 01:54:37 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.
You sure about that i thought more people used to mine these year because it´s barely for free. You only need to invest in a pc. don´t know if your information is correct because there isn´t a limit for coins? |
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BitcoinPaw
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May 04, 2016, 09:02:11 PM |
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I guess so that bitcoins are decreasing its quantity. Because many people are holding it for this coming halving.
And I can add that there are frozen bitcoin wallet address that are lost forever with bitcoin in it.
So, I can say that number of bitcoins are decreasing.
But after halving number of bitcoin will increase so fast cause everybody will try to sell it when price is high. If you want to buy bitcoins better to do it now. |
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Boosterious
Sr. Member
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Activity: 308
Merit: 250
The mind is everything. What you think you become.
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May 05, 2016, 02:47:04 PM |
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Yes it is.
People always forget their passwords, send their money to the wrong address, get their computer broken etc etc...
The available number of bitcoins are decreasing every day.
yes its might causing bitcoin amount decreasing,and also losing private key is some of many cause of decrease,but i wondering how much bitcoin have lost or died?anyone can tell me about that? |
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n0ne
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May 05, 2016, 04:28:17 PM |
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I guess so that bitcoins are decreasing its quantity. Because many people are holding it for this coming halving.
And I can add that there are frozen bitcoin wallet address that are lost forever with bitcoin in it.
So, I can say that number of bitcoins are decreasing.
But after halving number of bitcoin will increase so fast cause everybody will try to sell it when price is high. If you want to buy bitcoins better to do it now. After the days of halving bitcoin price will go higher as the circulation of bitcoin increases. But if the price goes high every one starts selling all the bitcoin hold. This would surely give additional circulation. |
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TryAngle
Member
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Activity: 61
Merit: 10
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May 05, 2016, 04:49:47 PM |
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Even with more coins in circulation, the question is are more being lost than are being mined. I think that is the thing that is the point of the question. The coins mined is decreasing but people are still losing coin because of mistakes.
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deuce22
Member
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Activity: 70
Merit: 10
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May 05, 2016, 04:55:51 PM |
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there are many bitcoin out in the market and we are still not half way of the bitcoin that is needed to be collected.
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Your Point Is Invalid
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May 05, 2016, 06:47:37 PM |
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I guess so that bitcoins are decreasing its quantity. Because many people are holding it for this coming halving.
And I can add that there are frozen bitcoin wallet address that are lost forever with bitcoin in it.
So, I can say that number of bitcoins are decreasing.
But after halving number of bitcoin will increase so fast cause everybody will try to sell it when price is high. If you want to buy bitcoins better to do it now. After the days of halving bitcoin price will go higher as the circulation of bitcoin increases. But if the price goes high every one starts selling all the bitcoin hold. This would surely give additional circulation. You dont know what you are talking about, the halving will reduce the speed of circulation, not heighten it, do ou know what the halving is? |
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knowhow
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May 05, 2016, 10:26:55 PM |
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Even with more coins in circulation, the question is are more being lost than are being mined. I think that is the thing that is the point of the question. The coins mined is decreasing but people are still losing coin because of mistakes.
Well with bitcoin being worth such it keeps being a stupid way to loose them,i my self has lost some 0,03 because i download a wallet provider and i didnt record the keys to acess the wallet ,my pc had a huge problem,and the files just gone,result i had the adress but i couldnt use the money on it.Soo we now should take care our bitcoins and save or store all information required to recover the wallet as well to make backup to avoid any future problem.And yes mining making the number decrease as some stupids moments some of us make or had made with our coins. |
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Amph
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Activity: 3206
Merit: 1069
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May 06, 2016, 05:58:49 AM |
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there are many bitcoin out in the market and we are still not half way of the bitcoin that is needed to be collected.
wrong, we are already at 15-16M so more than half way, to the full supply, which is roughly 21M |
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fricircled
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May 07, 2016, 06:10:54 AM |
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there are many bitcoin out in the market and we are still not half way of the bitcoin that is needed to be collected.
wrong, we are already at 15-16M so more than half way, to the full supply, which is roughly 21M For the first halving, the supply of bitcoin is already 50% of the total supply. After this halving, there are only 25% new coins left. |
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