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Author Topic: Is limited supply of bitcoin a hinderence?  (Read 1184 times)
Amph
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March 21, 2016, 07:42:28 AM
 #21

people are to stubborn thinking in fiat terms, you don't need more coin, you need more value per coin, stop comparing it to fiat trash where they keep printing endless because the value keep dropping

bitcoin work as opposite of this, you need an increase in demand(this is the primarily problem) that will exponentially increase the value of each coin, so you need less and not more
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Elyes Zebda
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March 21, 2016, 08:41:13 AM
 #22

Yes. Because the public are dumb and don't understand divisibility.
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March 21, 2016, 09:21:42 AM
 #23

I don't know why someone would think that they can't get more bitcoins. You can buy them off an exchange whenever you want.

Because they believe bitcoin price will go beyond their purchasing power in future.Even at current price, many people can't afford to buy a whole bitcoin
 
people are to stubborn thinking in fiat terms, you don't need more coin, you need more value per coin, stop comparing it to fiat trash where they keep printing endless because the value keep dropping

bitcoin work as opposite of this, you need an increase in demand(this is the primarily problem) that will exponentially increase the value of each coin, so you need less and not more
That's what I meant to say.Everyone believe that value of their coin will exponentially increase in future so they want to save it till that happens.

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March 21, 2016, 07:34:29 PM
 #24

I don't know why someone would think that they can't get more bitcoins. You can buy them off an exchange whenever you want.

Because they believe bitcoin price will go beyond their purchasing power in future.Even at current price, many people can't afford to buy a whole bitcoin

Then people need to be educated. It doesn't matter if you can buy a whole bitcoin or not. If you want to buy $10 worth of bitcoins, you can buy $10 worth of bitcoins.

people are to stubborn thinking in fiat terms, you don't need more coin, you need more value per coin, stop comparing it to fiat trash where they keep printing endless because the value keep dropping

bitcoin work as opposite of this, you need an increase in demand(this is the primarily problem) that will exponentially increase the value of each coin, so you need less and not more
That's what I meant to say.Everyone believe that value of their coin will exponentially increase in future so they want to save it till that happens.

Just being an exponential increase is not a sufficient reason to horde. An exponential increase of 1% per year over 50 years is only 64% (compared to 50%).

Fears of widespread hording due to deflation are overblown. The average depreciation rate of the U.S. dollar over the last 100 years has been 3.22% (exponential, by the way), and we don't see widespread dumping of dollars. So, if Bitcoin's appreciation rate is 3.22%, we shouldn't expect widespread hording of bitcoins.

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April 21, 2016, 06:16:04 AM
 #25

In the future, if the bitcoin is to represent all the wealth of the Earth, its price will just rise 2% a year, to keep with the economy growth. So not many people will hoard it.

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April 21, 2016, 06:34:10 AM
 #26

The thing is, people will hoard Bitcoin because of the hype going around about the coming Halving and the possibility that the price would increase significantly. If this happens, a lot of people will start flooding the exchanges with coins, until the price goes down again and they will stop selling.

There will always be some barrier for people, and some reason for them to sell and this will feed the supply for others who are waiting to buy. ^smile^

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April 21, 2016, 06:40:05 AM
 #27

Nope its not a hindrance, if  many people holding their coins, and the price always go up, we can add another zero at the end in my own opinion.

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April 21, 2016, 09:03:15 AM
 #28

If Bitcoin is limited it can be a hinderence. Bitcoin wants more people to make use of Bitcoins so of they accomplish that and these people want to invest and they cannot buy anything Bitcoin is going to come over as a joke.
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April 21, 2016, 11:14:41 AM
 #29

That's what makes Bitcoin valuable. People think that they will lose the opportunity of their life if they don't buy now because of the orchastrated hype about the halving. It tends to make people buy more, and make us richer Grin !
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April 21, 2016, 11:24:31 AM
 #30

Nope its not a hindrance, if  many people holding their coins, and the price always go up, we can add another zero at the end in my own opinion.
What do you mean by adding another zero.Hoarding will make bitcoin availability scarce.This will push up the price hence bitcoin would be beyond reach of many common people

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April 21, 2016, 11:46:58 AM
 #31

Good thread. Mixed with some ignorance.

Yes there are only 21 million Bitcoins available.
But there are also 2.1 trillion satoshis available (which is about 262.5k satoshi  per/person — if the population is 8billion)  

The price of 1btc/satoshi is based on supply and demand.
So,  the more demand,  and the less supply,  the more it's price/value increase (unlike fiat which can be printed).

In any case, if the demand does increase,  we could see the value of 0.00000300 = 1.00000000, this is one of the reasons people use Bitcoin — No quantitative easing.




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April 21, 2016, 04:17:13 PM
 #32

Yes, its a problem because the investments can be done only by the owners of the bitcoins.
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April 21, 2016, 04:23:43 PM
 #33

I don't think it is a problem at all, and it will never get to a point when nobody will be able to buy more bitcoin, over the years it may be more expensive to buy bitcoin but it will always be available unless of course every single user holds and never sells.
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April 21, 2016, 05:16:19 PM
 #34

we know that only 21 million Bitcoins can be produced and this make most people to think that they might not be able to get bitcoin again if they spend them heavily.
This thought leads to storing bitcoin rather than spending them.IMO this is a great hindrance in bitcoin becoming mainstream.Your thoughts?
Not to be worry about this,if 21 milion bitcoins has end up,its might there only bitcoin core,this bitcoin just trnsacted between wallet to wallet,no more people mine bitcoin,and bitcoin will be rare,its good news for price,its will expensive.

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April 21, 2016, 06:11:29 PM
 #35

I don't think it is a problem at all, and it will never get to a point when nobody will be able to buy more bitcoin, over the years it may be more expensive to buy bitcoin but it will always be available unless of course every single user holds and never sells.

I think limited supply will occur in after halving only, mining will get reduce So supply and demand also will get increase rapidly. People will would have think about that and lots of altcoins in the market this is also one of the reason for that...
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