A big problem in bitcoin ???

[pawanjain]

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

[AgentofCoin]

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.

[GreenBits]

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

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.

[pawanjain]

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.

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

[pawanjain]

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

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.

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 .

[AgentofCoin]

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.

You mean the supply of the bitcoin remain maintained in the market according to the demand to make the stable market of Bitcoin .
...

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.

[1.btcwonder]

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.

[olubams]

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?...

[the rise]

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.

[OrangeII]

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.

[Taylorw]

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

[Qartersa]

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

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.   

[MainIbem]

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.

[fuer44]

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

[leminerale]

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

[zeze18]

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

[MMA]

Bitcoin is not unlimited. It is fixed  that 21 millions Bitcoins can exist in the whole internet.

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.

[ecnalubma]

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.

[iyan33]

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.

[asyakashi]

Bitcoin is not unlimited. It is fixed  that 21 millions Bitcoins can exist in the whole internet.

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.