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Author Topic: Bitcoin does not have limited supply  (Read 1222 times)
Sarah08
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November 19, 2017, 01:10:28 PM
 #41

You are right partially as there is no limit to the prices of Bitcoin. Currently it says 21 million but more and more will mined and the limit will keep increasing . Then comes the price of Bitcoin . Who expect the prices of Bitcoin to rise upto 10 times the price past year. Infact now it's even more and there are many predictions which say that Bitcoin can easily cross 10k by the end of this year.
Yes bitcoin does not have a limited supply because many people are supporting bitcoin nowadays, BTC have finite supply of 21 million coins and that is a fact which is very well known.I do not know why you think that some alt coin which have "bitcoin" in his name can change total number of coins.Most of that alt coins even with "bitcoin" in their names will simply disappear over time.There is always a option to increase total number of BTC,but I think nobody wants to that happen.One of the reasons why BTC is most popular crypto currency is his limited supply among other things,and 1000 more new coins on market will not change anything.
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November 19, 2017, 01:16:37 PM
 #42

number of trolls on this forum is increasing by the minute these days. honestly is it that hard to see the difference between bitcoin and all these forks?
it is not like they have anything in common apart from the name which those altcoins are using to their own advantage.

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November 19, 2017, 01:26:23 PM
 #43

Okay, so I'm just gonna skip the argumentation phase and get right to the point: You're half right.
Bitcoin in its current state, has a limited supply: 21 million. However, changes can be made... If the whole network agrees to it, we could up that limit. Now I seriously doubt that will ever happen, but it's possible.

But that wasn't what you were trying to say. You're saying that if someone forks a coin, it would effectively up the coin's supply limit. This is not true.
If you fork a coin, you increase the supply limit of ALL cryptocurrencies together. Not that of Bitcoin. The supply limit of Bitcoin stays the same: 21 million.

Though I must say that I sort of agree with you that the argument of "Bitcoin has a limited supply" isn't a great argument for its price to rocket. It's partly a reason. If Bitcoin's supply could grow 10x in 1 month, obviously no one would invest in it. Luckily, that's not the case and Bitcoin's inflation is quite low.
However, it's quite likely that Bitcoin won't keep growing. Why? Because there are a whole shit ton of other cryptocurrencies out there, each competing to become the largest. And is Bitcoin, the oldest crypto of all, also the best crypto? Probably not. There are many cryptocurrencies offering way faster & more anonymous transfers, lower fees and other awesome features.

Bitcoin's dominance isn't an infinitely strong force. It's going to collapse and other, more advanced, cryptocurrencies will take its place. It's not a case of "if", it's a case of "when".

In short: Bitcoin has a limited supply. It's not a great reason to invest in it though, as there will be many, far more advanced, cryptocurrencies, competing for dominance over the relatively new world of cryptocurrencies.

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November 19, 2017, 02:22:26 PM
 #44

I think you confused and shouldn't in threads if this is the kinda dribble you going t post. Did you even think about what you were typing before typing it?

Please learn more about what you talking about before making topics like this thank you.

You are right partially as there is no limit to the prices of Bitcoin. Currently it says 21 million but more and more will mined and the limit will keep increasing . Then comes the price of Bitcoin . Who expect the prices of Bitcoin to rise upto 10 times the price past year. Infact now it's even more and there are many predictions which say that Bitcoin can easily cross 10k by the end of this year.
Yes bitcoin does not have a limited supply because many people are supporting bitcoin nowadays, BTC have finite supply of 21 million coins and that is a fact which is very well known.I do not know why you think that some alt coin which have "bitcoin" in his name can change total number of coins.Most of that alt coins even with "bitcoin" in their names will simply disappear over time.There is always a option to increase total number of BTC,but I think nobody wants to that happen.One of the reasons why BTC is most popular crypto currency is his limited supply among other things,and 1000 more new coins on market will not change anything.


You really don't get it do you?

A person wants to invest 100 USD of real money in cryptocurrencies. If there was only one crypto - Bitcoin - with a limited supply, then over time you can argue price will go up as long as that person really want to by crypto for his USD. But when you then have more and more cryptocurrencies, some of the people will choose to put their 100USD in competing cryptos. And this means in reality that the supply of crypto currency is growing exponentially and without limits

The price will go u because the demand is high. This guy didn't even mention this. What an annoying topic.


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November 19, 2017, 02:27:29 PM
 #45

I think you confused and shouldn't in threads if this is the kinda dribble you going t post. Did you even think about what you were typing before typing it?

Please learn more about what you talking about before making topics like this thank you.

You are right partially as there is no limit to the prices of Bitcoin. Currently it says 21 million but more and more will mined and the limit will keep increasing . Then comes the price of Bitcoin . Who expect the prices of Bitcoin to rise upto 10 times the price past year. Infact now it's even more and there are many predictions which say that Bitcoin can easily cross 10k by the end of this year.
Yes bitcoin does not have a limited supply because many people are supporting bitcoin nowadays, BTC have finite supply of 21 million coins and that is a fact which is very well known.I do not know why you think that some alt coin which have "bitcoin" in his name can change total number of coins.Most of that alt coins even with "bitcoin" in their names will simply disappear over time.There is always a option to increase total number of BTC,but I think nobody wants to that happen.One of the reasons why BTC is most popular crypto currency is his limited supply among other things,and 1000 more new coins on market will not change anything.


You really don't get it do you?

A person wants to invest 100 USD of real money in cryptocurrencies. If there was only one crypto - Bitcoin - with a limited supply, then over time you can argue price will go up as long as that person really want to by crypto for his USD. But when you then have more and more cryptocurrencies, some of the people will choose to put their 100USD in competing cryptos. And this means in reality that the supply of crypto currency is growing exponentially and without limits

The price will go u because the demand is high. This guy didn't even mention this. What an annoying topic.

Sorry that you do not have the wit to understand the argumentation and are confusing the topics. The underlying reality is that the cryptos are fungible, and to boot demand will no longer be there
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November 19, 2017, 04:04:46 PM
 #46

The argument is again and again that the value of Bitcoin will increase because supply is limited to 21 million. But this is quite simply wrong. Every time Bitcoin is forked that is in real terms an expansion of the Bitcoin currency beyond 21 million. To some degree the same is true of alternative crypto currencies which will flood the market. There is already more than 1000 cryptocurrencues ( https://en.wikipedia.org/wiki/List_of_cryptocurrencies )
I don't understand that why you are thinking about the bitcoin fork experiment result in negative ways , Here you need to know first about the bitcoin fork that why they are doing many times , The team of the bitcoin can do Thier fork experiment all at the single time but in actual they are not doing Because they know that if they will then surely lots of time of 2-3 days will take and that will result into stop of the market of the cryptocurrency without the use of the bitcoin .
So they are doing these forms in step by step and also clearly the team said that the new coin that we got from the fork are not bitcoin and that are optional for you to have , so it is your need that you will have or not.
Even lots of people are in the bitcoin hold in big amount who have not yet withdraw Thier bitcoin cash and gold , so you can expect that people have believe in the bitcoin , the newly generated coins are just optional and are better for the trading purpose and make profit .


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November 19, 2017, 04:09:48 PM
 #47

The argument is again and again that the value of Bitcoin will increase because supply is limited to 21 million. But this is quite simply wrong. Every time Bitcoin is forked that is in real terms an expansion of the Bitcoin currency beyond 21 million. To some degree the same is true of alternative crypto currencies which will flood the market. There is already more than 1000 cryptocurrencues ( https://en.wikipedia.org/wiki/List_of_cryptocurrencies )

No, you are wrong, Bitcoin is BTC, if another alt coin comes, like BCH, BTC Gold or any other currency, it is not the same coin! When you do a fork, a new ALT Coin comes, this is not the same coin as original one.
Cripto currency are infinite, you can create your coin now if you want, but the supply of orignal Bitcoin Core is 21 million, this was in code created by satoshi nakamoto.
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November 19, 2017, 04:11:42 PM
 #48

The argument is again and again that the value of Bitcoin will increase because supply is limited to 21 million. But this is quite simply wrong. Every time Bitcoin is forked that is in real terms an expansion of the Bitcoin currency beyond 21 million. To some degree the same is true of alternative crypto currencies which will flood the market. There is already more than 1000 cryptocurrencues ( https://en.wikipedia.org/wiki/List_of_cryptocurrencies )

No, you are wrong, Bitcoin is BTC, if another alt coin comes, like BCH, BTC Gold or any other currency, it is not the same coin!
Cripto currency are infinite, you can create your coin now if you want, but the supply of orignal Bitcoin Core is 21 million, this was in code created by satoshi nakamoto.

You really really do not understand it do you? It does not matter at all what the names of the coins are. The are all fungible and hence will directly impact on the overall supply and demand for the market for crypto currencies.
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November 19, 2017, 04:20:12 PM
 #49

The argument is again and again that the value of Bitcoin will increase because supply is limited to 21 million. But this is quite simply wrong. Every time Bitcoin is forked that is in real terms an expansion of the Bitcoin currency beyond 21 million. To some degree the same is true of alternative crypto currencies which will flood the market. There is already more than 1000 cryptocurrencues ( https://en.wikipedia.org/wiki/List_of_cryptocurrencies )
This is a good news, initially I just thought the bitcoin supply was limited, and it would peak at some point. At that time the bitcoin source will be exhausted and we lose white!

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Saran_Rodriguez
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November 19, 2017, 04:47:50 PM
 #50

I think you do not understand how it works. Hardfork does not alter the maximum supply of bitcoin, it just creates an altcoin based on the current blockchain. But bitcoin will still have 21M maximum supply. If ever the hardforked coin survives, it is just an altcoin and will compete with bitcoin on the market.
You are absolutely right. Bitcoin can't be created more than 21 million. Only the price of Bitcoin will continue to grow in the future. Hovewer, I can't say the same about other cryptocurrencies so their diversification and quantity may grow.
karisiak123
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November 19, 2017, 04:57:56 PM
 #51

yes it's an advantage for someone who joins bitcoin with no limited supply anyone can join bitcoin ..
with that we can search for more additions by joining in bitcoin

Erkallys
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November 19, 2017, 05:00:35 PM
 #52

Bitcoin is not the representative of all the crypto-currencies. It has it own supply and blockchain. Anything else which has its own blockchain too is not Bitcoin, and their supplies can not be summed up. For this reason, Bitcoin truly have a total supply of 21 million.
MSdosOutput
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November 19, 2017, 05:04:16 PM
 #53

Actually, there is no effect of Forking on bitcoin. So, the supply of bitcoin is limited and here your argument is not right at all.
uncoinwhales
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November 19, 2017, 05:06:32 PM
 #54

the forks is classify as altcoins and it is different from bitcoin

one of the most important things in bitcoin is limited number which make many invest in it
sheamus10
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November 19, 2017, 05:10:25 PM
 #55

If I think total bitcoin supplay will not increase despite existence of hardfork. Hardfork just as ico that we know, the creation of the coin this result of the discussion and approval of minner around the world.
so it will not affect the suppply bitcoin.

Anarc Senior
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November 19, 2017, 05:49:52 PM
 #56

The argument is again and again that the value of Bitcoin will increase because supply is limited to 21 million. But this is quite simply wrong. Every time Bitcoin is forked that is in real terms an expansion of the Bitcoin currency beyond 21 million. To some degree the same is true of alternative crypto currencies which will flood the market. There is already more than 1000 cryptocurrencues ( https://en.wikipedia.org/wiki/List_of_cryptocurrencies )

Th forking (or absence of it) does not effect Bitcoin's supply. At best, you can consider it as a "gift" to all bitcoin holders, which will increase the overall worth. It in no way impacts the overall supply of 21 Mn, which is set in stone.

That is precisely my point. I create "Bitcoin2" by forking. Then I create "Bitcoin3" and so on and so on. In reality what I am doing is issuing more Bitcoin. That I call it a different name does not change the reality.

Please try to understand the fundamental before you speak:

Given the example of BTC and BCH, they are both completely two separate cryptocurrencies  - each has its own blockchain network.  

Can you use BCH to purchase goods if the merchant only accepts BTC ? Or Vice Versace  ?

Don't be such a dope and stop wasting other's time !


There are so many spreads of mis-information on the internet that it really make people's  life difficult...
Viscera
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November 19, 2017, 06:02:55 PM
 #57

Bitcoin have a limited and finite supply. In fact, there are only 21 million Bitcoins that can be mined in total. Once miners have unlocked this many Bitcoins, the planet's supply will essentially be tapped out, unless Bitcoin's protocol is changed to allow for a larger supply.


       
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freightjoe
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November 19, 2017, 07:43:55 PM
 #58

The argument is again and again that the value of Bitcoin will increase because supply is limited to 21 million. But this is quite simply wrong. Every time Bitcoin is forked that is in real terms an expansion of the Bitcoin currency beyond 21 million. To some degree the same is true of alternative crypto currencies which will flood the market. There is already more than 1000 cryptocurrencues ( https://en.wikipedia.org/wiki/List_of_cryptocurrencies )

Th forking (or absence of it) does not effect Bitcoin's supply. At best, you can consider it as a "gift" to all bitcoin holders, which will increase the overall worth. It in no way impacts the overall supply of 21 Mn, which is set in stone.

That is precisely my point. I create "Bitcoin2" by forking. Then I create "Bitcoin3" and so on and so on. In reality what I am doing is issuing more Bitcoin. That I call it a different name does not change the reality.

Please try to understand the fundamental before you speak:

Given the example of BTC and BCH, they are both completely two separate cryptocurrencies  - each has its own blockchain network.  

Can you use BCH to purchase goods if the merchant only accepts BTC ? Or Vice Versace  ?

Don't be such a dope and stop wasting other's time !


There are so many spreads of mis-information on the internet that it really make people's  life difficult...


Wow - the lack of intelligence in here is amazing. You are totally not understanding the fundamentals here and even though I have explained the details many times in this thread you clearly still do not understand it. This is why Bitcoin (and other coins) will crash - it is now only being hyped by people like you with no understanding of the actual reality
xBitHodler
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November 19, 2017, 08:51:34 PM
 #59

You are wrong. Bitcoin does have a limited supply. As you said, every person here can create their own hardfork of Bitcoin so why didn't you create your own Bitcoin in order to exchange in to the real one? That's quite simple. Someone is willing to pay for hardforked coins because such person thinks they might be worth more in the future. No support from community = your hardfork is worthless.
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November 19, 2017, 09:01:25 PM
 #60

It does not affect the maximum suppply of Bitcoin. If you fork Bitcoin there would be an altcoins (Name of the fork) + Bitcoin) They are trying to make a 2.0 Version of bitcoin. It would not really change anything with Bitcoin it self.

You really don't get it do you?

No, he totally get's it. 

Forks do not produce bitcoins.
  By your logic anyone can have gold if we just call dirt gold.

The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf

Free bitcoin in AFRICA - https://bitcointalk.org/index.php?topic=2710325.msg27720734
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