A big problem in bitcoin ???

[futureofeth]

Op i don't believe it real that mining Bitcoin is unlimited for satoshi has already set the limits i don't believe that anyone aside Satoshi himself can change Bitcoin availability beyond 21,000.

Even Satoshi himself cannot change this rule. The program code is made so that bitcoin will not be created after 21 million coins. But why do people think that miners will lose interest in bitcoins after mining all the coins. They will earn money for confirming transactions. When the price of bitcoin is large it is very profitable. Restrictions on the number of coins in circulation will only increase its price.

To mature all Bitcoin it will take lot of time, may be another coin will become more popular for mining. We don't how people are going to react for the market. I think the second option we have after Bitcoin is ETH.

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[Erelas]

Bitcoin Unlimited probably could have been named a little better, to avoid confusion from the implication inherent in the name.  No matter what naming convention, language etc., though, there will always be some confusion about what is actually meant.

It's fairly straightforward and easy to understand as long as you remember to read passed the headline.  The "unlimited" part references the transactions, not the number of bitcoin.

[biboy]

Bitcoin Unlimited probably could have been named a little better, to avoid confusion from the implication inherent in the name.  No matter what naming convention, language etc., though, there will always be some confusion about what is actually meant.

It's fairly straightforward and easy to understand as long as you remember to read passed the headline.  The "unlimited" part references the transactions, not the number of bitcoin.

One of the big problem that I am seeing about bitcoin, is the people itself, because they are just after the money that they will benefit from it, they don't realize one of the reason why bitcoin exist and that is to be able to help and make change in the economic system and make the society cashless.

[BitcoinGirl.Club]

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

First, let us get something out of the way, bitcoin total supply is not unlimited but limited to 21 million bitcoins that will ever exist!

Once these 21 btc coins are mined and owned by different people from all over the world it means demand will still be there and miners will still make their money and FYI price is even likely to increase more when all coins are mined as people know their availability is not ganranteed as some coins will be lost forever pushing prices higher.

[Erelas]

Bitcoin Unlimited probably could have been named a little better, to avoid confusion from the implication inherent in the name.  No matter what naming convention, language etc., though, there will always be some confusion about what is actually meant.

It's fairly straightforward and easy to understand as long as you remember to read passed the headline.  The "unlimited" part references the transactions, not the number of bitcoin.

One of the big problem that I am seeing about bitcoin, is the people itself, because they are just after the money that they will benefit from it, they don't realize one of the reason why bitcoin exist and that is to be able to help and make change in the economic system and make the society cashless.

Yeah, true, I was kind of trying to tiptoe around that I guess.  It's always the people, that do not take the time to read the article, that take the misleading clickbait kind of headline, in this case, the "Unlimited" part, assign their own meaning to it and run with it.

[burner2014]

Bitcoin Unlimited probably could have been named a little better, to avoid confusion from the implication inherent in the name.  No matter what naming convention, language etc., though, there will always be some confusion about what is actually meant.

It's fairly straightforward and easy to understand as long as you remember to read passed the headline.  The "unlimited" part references the transactions, not the number of bitcoin.

One of the big problem that I am seeing about bitcoin, is the people itself, because they are just after the money that they will benefit from it, they don't realize one of the reason why bitcoin exist and that is to be able to help and make change in the economic system and make the society cashless.

Yeah, true, I was kind of trying to tiptoe around that I guess.  It's always the people, that do not take the time to read the article, that take the misleading clickbait kind of headline, in this case, the "Unlimited" part, assign their own meaning to it and run with it.

A lot of people that are just after the money that they can gain here without considering what bitcoin can do more for them if they will continue to support it and continue to hold what they do have or even promote this for some people.

[Tigorss]

What will actually lower the volatility of bitcoin is a better method of connecting bitcoin wallets to Wall Street banks and their abundant investment capital.

[Tigorss]

Financial risk. Another risk associated with Bitcoin is the value of this very famous currency itself is very volatile. In early January 2013, for example, Bitcoin is priced at 13 US dollars per chip (1 BTC). That number rocketed to more than 1,100 dollars a chip in December of the same year, then trimmed to only half (about 500 US dollars), just hours after the ban on Bitcoin transactions in China.

[makolz26]

Financial risk. Another risk associated with Bitcoin is the value of this very famous currency itself is very volatile. In early January 2013, for example, Bitcoin is priced at 13 US dollars per chip (1 BTC). That number rocketed to more than 1,100 dollars a chip in December of the same year, then trimmed to only half (about 500 US dollars), just hours after the ban on Bitcoin transactions in China.

That should not be a problem anymore as we all know that already in the first place, the big problem here in bitcoin are the big manipulator of the price, those whales they are making a negative impact with the price and creating panic in the public that is why the value of bitcoin now  is much unstable.

[Ingramtg]

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

Well one of the factors or problem of bitcoin is the volatility price of it the unstable price of it which the demand on marketplace going ups and downs, but some is bitcoin volatility is an open opportunity.
And the second I think the risk , taking the risk is part and bitcoin is a risky investment , sometimes because of risk it's taking a big loss to some , and some are big income. So what I'm trying to say it's normal to have a problem but this doesn't mean to stop believing bitcoin.

[tambok]

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

Well one of the factors or problem of bitcoin is the volatility price of it the unstable price of it which the demand on marketplace going ups and downs, but some is bitcoin volatility is an open opportunity.
And the second I think the risk , taking the risk is part and bitcoin is a risky investment , sometimes because of risk it's taking a big loss to some , and some are big income. So what I'm trying to say it's normal to have a problem but this doesn't mean to stop believing bitcoin.

The volatility of the price was created because we don't unite with one decision, the perks and negative outcome of free to do decision here, but at some point that volatility of the price has been the reason for some people for them to get successful in trading.

[RuslanDua]

The number of coins of crypto currency, which can be extracted all the time, is 21 million units. At the moment, users received about 60% of this amount. Each received coin is solvent. The currency, unlike ordinary monetary units, is backed not by gold and debts, but only by supply and demand. So do not worry. This quantity is not possible to increase, so to speak, limited.I found the information very interesting counting:
Every day about 3,600 coins are added to the common currency network. New arrivals cost users more and more difficult. According to certain data, now users have already received 13 million coins. Upper limit users will be able to reach around 2140
So we really have enough time)))

[Meysa_richa]

If that really happens I also think like you that bitcoin will go down and hard to climb, and I think the news is not true.

[Claudyah]

Again, this is mostly a bitcoin problem or another blockchain based network. Due to lack of regulatory oversight, fraud and market manipulation are common. Among these cases is Oncecoin - recently revealed as a ponzi scheme that is believed to have robbed millions of investors' money who believe they will be "next Bitcoin".

[stomachgrowls]

Again, this is mostly a bitcoin problem or another blockchain based network. Due to lack of regulatory oversight, fraud and market manipulation are common. Among these cases is Oncecoin - recently revealed as a ponzi scheme that is believed to have robbed millions of investors' money who believe they will be "next Bitcoin".

You do have some points but you are talking completely off-topic towards on the things being mentioned on op. Try to read it carefully once again and you might able to get the thought.
Back on topic, i dont think supply of bitcoin would really be added up since it is already being fixed by total supply of 21M coins and thats how being designed. Dont worry on mining it all because the last btc would be mined would happen on 2140+ year.

[KorakPawon]

Many problems to occur, a new electronic currency, perhaps one vouchsafed in a more transparent way, might arise. If the people who found Bitcoin useful for its anonymity, virtuality, and globality were to switch to this new currency, the value of Bitcoins would tumble. The reason is simple: Bitcoin’s exchange rates with other currencies depend on supply and demand; if no one wants Bitcoins, they’re worthless. And Bitcoin need not run into trouble for a new currency to appear.

actually from the beginning of the occurrence of bitcoin has many several shortcomings. one of them There are threats that lurk these virtual money users. One of them deals with the issue of Bitcoin storage. not only that the erratic price becomes the second issue in bitcoin indeed the higher the price.

[sheenshane]

Many problems to occur, a new electronic currency, perhaps one vouchsafed in a more transparent way, might arise. If the people who found Bitcoin useful for its anonymity, virtuality, and globality were to switch to this new currency, the value of Bitcoins would tumble. The reason is simple: Bitcoin’s exchange rates with other currencies depend on supply and demand; if no one wants Bitcoins, they’re worthless. And Bitcoin need not run into trouble for a new currency to appear.

actually from the beginning of the occurrence of bitcoin has many several shortcomings. one of them There are threats that lurk these virtual money users. One of them deals with the issue of Bitcoin storage. not only that the erratic price becomes the second issue in bitcoin indeed the higher the price.

That also probably the reason for bitcoin problem, even though how many occur a problem in bitcoin but still this will exist to the community who embrace bitcoin. A big problem I think is the transaction process it takes almost 30 minutes when you transfer to another wallet.
But people they did not mind that as long as bitcoin will profitable and it is promising.

[paresh nakar]

many countries have not legalized bitcoin as a legal virtual money  bitcoin activity that may disrupt the performance of international banks so this is big problem.

[SingAlong]

I think the biggest problem of bitcoin is the concept of this system is hard to understand that's why many people misunderstood of what bitcoin can do and this the reason that until now it is being banned in some countries because they doesn't have enough knowledge to realize bitclin system are good for our future.

[portatifx]

I gues we have to take time for resolving the current issues that we are facing and that is with the miners fee, it is too high now since the value of bitcoin is starting to increase too.