Stupid but very important question

[ssoonnss]

Here is my source:
https://github.com/bitcoin/bitcoin/tree/master/src

Look at the source code that defines the protocol and it becomes clear that it works exactly as I've described it.

Every transaction and every block are verified by every peer before being relayed.  If someone (or some group) tries to change the code, all the peers will simply ignore the stuff they broadcast that is invalid according to the current protocol.  The only way to change this is to get EVERYONE to use modified code.  If even two peers can talk to each other and maintain the original rules, then the original rules are still enforced on the system that is currently called "bitcoin".

I've came across that before , but ...you know....
I'll have to get somebody at the office to run a more indepth research on this this and get me the simplified version ASAP.

[Gabi]

The 21 millions limit is a hard one. Changing it would mean a hard fork. Change it and you will have Bitcoin2. Then people will have to choose, stay with bitcoin1 or change and get bitcoin2 with the new limit.

Well if everyone and his dog decide to go with bitcoin2 and the new limit then you will be the only one in the old bitcoin. But this won't happen probably, no one want to change the limit, any change to it will be happily ignored.

[freedomno1]

Alternate coins seem to be the Bitcoin 2
Although it is a hardwired 21 million that won't reach completion till 2100 so yah

[DannyHamilton]

Alternate coins seem to be the Bitcoin 2
Although it is a hardwired 21 million that won't reach completion till 2100 so yah

Actually 2140, but what's 40 years between friends?

[ssoonnss]

The 21 millions limit is a hard one. Changing it would mean a hard fork. Change it and you will have Bitcoin2. Then people will have to choose, stay with bitcoin1 or change and get bitcoin2 with the new limit.

Well if everyone and his dog decide to go with bitcoin2 and the new limit then you will be the only one in the old bitcoin. But this won't happen probably, no one want to change the limit, any change to it will be happily ignored.

Thank you for your answer.
As I assumed before this limit is a combination of math and will of the community using bitcoin.

Probably it's safer than a hard limit but again the whole myspace>facebook saga tells me it's hard to predict people desires or needs.

[Birdy]

But I cannot believe that your business friends put that much money in it without doing some research.
I've read 1 week non-stop about Bitcoin before aquiring a small two-digit sum (on the other hand that's still a lot of money for me and I'm a bit late to the party)

[ssoonnss]

But I cannot believe that your business friends put that much money in it without doing some research.
I've read 1 week non-stop about Bitcoin before aquiring a small two-digit sum (on the other hand that's still a lot of money for me and I'm a bit late to the party)

The report I got , (not done it myself , if it were just for me I wouldn't have heard of bitcoins till April) just stated that the 21m limit is fixed and can't be moved either way up or down.

Unfortunately there were other aspects in that research that proved to me  that altough I (we) payed quite a sum of money for it I ended up with a wikipedia printed page.
And the last week before the orthodox easter some people began having doubts about everything.

This is why I ended here decided to research this myself.

[ssoonnss]

Well I ended up spending hours googling , reading forums and blogs but at least I have a rough idea of this and how to act from now on.

Thank you all for yoour answers and good luck with your investment.

[optimator]

The report I got , (not done it myself , if it were just for me I wouldn't have heard of bitcoins till April) just stated that the 21m limit is fixed and can't be moved either way up or down.

Unfortunately there were other aspects in that research that proved to me  that altough I (we) payed quite a sum of money for it I ended up with a wikipedia printed page.
And the last week before the orthodox easter some people began having doubts about everything.

This is why I ended here decided to research this myself.

Welcome ssoonnss!

If you don't mind, I'd like to ask a couple of questions?

Do I understand correctly, one of your investment advisor companies sold you a report to clue you in to "the next big thing" - bitcoin?

Also, are you personally holding the bitcoin or does the investment advisor company hold them for you?

I ask the first question because I'm just curious, the second question I ask because if you are personally holding them you may want to include security in your research.

Cheers!

[usafinders]

Please stick to the question.

[Prattler]

The 21m bitcoin limit is something than can be changed or can't?

The English language has 26 letters. Can that be changed? Yes and no.

Yes: everyone can just štart using a new letter "Š" for whatever reašon. Dictionarieš would get rewritten, etc etc.

No: it would no longer be the English language. No one can force you to adopt the new letter "Š", if you refuse the changes, you can still use the old English with just 26 letters.

Bitcoin follows the same principles, the protocol is just more strict.

[vm1990]

Alternate coins seem to be the Bitcoin 2
Although it is a hardwired 21 million that won't reach completion till 2100 so yah

Actually 2140, but what's 40 years between friends?

im not convinced im going with 2090 after all hardware is getting faster than anyone expected

[DannyHamilton]

Alternate coins seem to be the Bitcoin 2
Although it is a hardwired 21 million that won't reach completion till 2100 so yah

Actually 2140, but what's 40 years between friends?

im not convinced im going with 2090 after all hardware is getting faster than anyone expected

It doesn't matter how fast the hardware gets.  Every 2016 blocks, the difficulty gets readjusted to keep the average rate of new blocks as close to 10 minutes as possible.

[freedomno1]

Alternate coins seem to be the Bitcoin 2
Although it is a hardwired 21 million that won't reach completion till 2100 so yah

Actually 2140, but what's 40 years between friends?

im not convinced im going with 2090 after all hardware is getting faster than anyone expected

It doesn't matter how fast the hardware gets.  Every 2016 blocks, the difficulty gets readjusted to keep the average rate of new blocks as close to 10 minutes as possible.

Turn off all miners fire the phasers hardcore after 2016 blocks lol
And yah 2140 mean

[The Extreme]

This isn't the complete answer to your question but I saw this post
https://bitcointalk.org/index.php?topic=3366.20
and thought you might find it of interest. 

I think the answer to your question is twofold. The limit is 21,000,000, but can an increase ever happen?
Not will, but could.  It could.  It's technically possible.  Will it? 

I'm guessing not.  For one, as others have mentioned, to do so would introduce a Bitcoin "fork".  That would - at best! - cause chaos and confusion as people tried to make the switchover.  At worst, it might well destroy the currency.  It the two sides could not est agree on it, the entire system would be gone.  No one wants to rock this boat, since BTC is the "gold standard" digital currency. 

Second, the 21 million results from the algorithms used as the hashes solve; the BTC network always is adjusting the difficulty do the number of rewarded coins takes a slow, steady from overtime. 

Hope this is of help... 

[theone1e]

Still have to learn from you, but now I feel great risk.

[niko]

I hope this is clear by now: the only way to change the future supply of your coins from the schedule we have today is if YOU change it. Nobody can change it without your consent. Sure, they can change the supply of their coins, just like you could yours. This is what forks and consensus are all about.