Is the 21 milion of bitcoin a real limit?

[simbax]

Good morning
Reading about bitcoin, I've found that there is a maximum of BTC that can be mined: 21 milions
It is said that this limit is due to the source code.

As probably you know more than I do about BTC:
- is it a real limit
- is it a good thing? I think it is but it looks like BTC will become more a commodity and not just a payment system

What do you think?

[1714955901]

1714955901

[jseverson]

- is it a real limit

Yes. Once the last of the 21 million is mined, you can't mine any anymore. It's more than a century away though. If someone comes in here and says that forks increase the limit, don't believe them because they're talking about some altcoin.

- is it a good thing? I think it is but it looks like BTC will become more a commodity and not just a payment system

It's a good thing if you want Bitcoin's value to soar, because that makes it deflationary. It would still work as a payment system, but the rising price could, and is already discouraging people from spending it. It has already become much more of a commodity than it is a payment system, with everyone raving about its growth rather than its features as a currency, but who knows. Some future development might change that.

[bitcoinveda]

Bitcoin is like gold in many ways. Like gold, Bitcoin cannot simply be created arbitrarily. Gold must be mined out of the ground, and Bitcoin must be mined via digital means. Linked to this process is the stipulation set forth by the founders of Bitcoin that, like gold, it has 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. Supporters of Bitcoin say that, like gold, the fixed supply of the currency means that banks are kept in check and not allowed to arbitrarily issue fiduciary media.

[pootutus]

Bitcoin 21 million may not be a bad thing. If there is no total limit, maybe bitcoin is now gone. It seems that some stocks are continuously issuing shares, which will seriously hurt investors. I agree with this design.

[benmartin613]

Yes 21 million bitcoin is the limit and after that there wont be any bitcoin that can be mined by the miners, about you question if its a good thing then my is yes because with the limit of bitcoin it will have more value once the limit has been reach.

[charlotte04]

Good morning
Reading about bitcoin, I've found that there is a maximum of BTC that can be mined: 21 milions
It is said that this limit is due to the source code.

As probably you know more than I do about BTC:
- is it a real limit
- is it a good thing? I think it is but it looks like BTC will become more a commodity and not just a payment system

What do you think?

Yes, think of it as a collection, when it runs out, you'll never going to have it again, so the price may go up extremely. So watch out.

[cfkvfyjd]

I think this is the limit, but when all the bitcoins are bought out, by this time bitcoin will be recognized all over the world, and will be regulated by the states.

[cfkvfyjd]

Accordingly, its quantity can be reprogrammed and increased.

[partysumo]

21 million is the hard cap now, bıt wouldn't it be technically possible to increase this cap with a hard fork, assuming the majority of the people wanted it. I know this is close to impossible, just asking whether it is technically possible.

[nmax21]

Good morning
Reading about bitcoin, I've found that there is a maximum of BTC that can be mined: 21 milions
It is said that this limit is due to the source code.

As probably you know more than I do about BTC:
- is it a real limit
- is it a good thing? I think it is but it looks like BTC will become more a commodity and not just a payment system

What do you think?

In fact, Bitcoin has no limit, constantly creating forki this crypto currency, thereby uncontrolled emission of new coins, which is unclear on what depends.

[RoommateAgreement]

- is it a real limit

why shouldn't it be real?!!
there is a limit for the maximum number that is allowed to be created and it is a consensus. and that amount is 21 million

- is it a good thing? I think it is but it looks like BTC will become more a commodity and not just a payment system

a currency doesn't have to be unlimited to be able to perform as a payment system!
you are comparing bitcoin to fiat (which is unlimited) and that is why you are confused.

also you are missing the fact that there are 8 decimal places after 1 bitcoin which makes it bigger for usage in case price was too high. it is something like an ingot of gold versus 1 gram of gold or gold dust for example.

[madentopere]

Good morning
Reading about bitcoin, I've found that there is a maximum of BTC that can be mined: 21 milions
It is said that this limit is due to the source code.

As probably you know more than I do about BTC:
- is it a real limit
- is it a good thing? I think it is but it looks like BTC will become more a commodity and not just a payment system

What do you think?

No , real limit less than 21 max limit is 21 milions.

yes it’s good and will make price increase in future especially after 2100

[worldofcoins]

Yes, 21 milion is limit and you cant mine more. On the other side some value of bitcoin is lost because people forgot private keys from their wallet and coins on their wallets out of circulation. So real limit slightly less.

According to reported data, there are about 5 million bitcoins lost in cyberspace,  so about 16 million coins will be in cirulation once it reaches the limite cap.  Lets hope more people keep losing there bitcoins

[khaled0111]

- is it a real limit

Indeed, Bitcoin Max supply is 21.000.000 BTC, to allow for a larger supply, the Bitcoin's protocol has to be changed.

- is it a good thing? I think it is but it looks like BTC will become more a commodity and not just a payment system

For now, everything is OK and we are not facing any problems, but when all bitcoins are being mined many expect troubles.
Miners will be the first to be effected since there will be nomore block rewards and you can imagine the negative effects of miners quitting mining
due to low profitability. Consequently, the Bitcoin network will be more centralized.

[JohnsonX]

21 million is the hard cap now, bıt wouldn't it be technically possible to increase this cap with a hard fork, assuming the majority of the people wanted it. I know this is close to impossible, just asking whether it is technically possible.

yes it is possible with a hard fork, on the technical side it should be fairly easy. The hard part would be coming up with a good reason to increase the cap and then convincing the majority to upgrade.

[marcbitcoins]

Good morning
Reading about bitcoin, I've found that there is a maximum of BTC that can be mined: 21 milions
It is said that this limit is due to the source code.

As probably you know more than I do about BTC:
- is it a real limit
- is it a good thing? I think it is but it looks like BTC will become more a commodity and not just a payment system

What do you think?

Yes, 21 million is the limit in which this was already estimated and unlock by all mathematician experts with no opposition on the figure but there is a good thing because this will be all mined after 127 years from now therefore we have lot of time to spend to be with bitcoin because no one will still alive after 127 years from now i think. 

[Digitalbitcoin]

As per Bitcoins whitepaper there will be 22 million bitcoins will be mined by 2145. But now with updates 21 million bitcoins by 2130. Well have any one notice while making bitcoin transaction that how much amount is charged for transaction in form of size ad fees per byte. I noticed it carefully even anyone can check that transaction fees and price per byte is increasing. It means when mining will finish, there is only way to earn transaction fees from sender to verify that transaction and circulation will be in same manner.

[bitorama]

yes it's a real limit, but we can not tell it's good or not for now because bitcoin accepting is just beginning

[zais]

Good morning
Reading about bitcoin, I've found that there is a maximum of BTC that can be mined: 21 milions
It is said that this limit is due to the source code.

As probably you know more than I do about BTC:
- is it a real limit
- is it a good thing? I think it is but it looks like BTC will become more a commodity and not just a payment system

What do you think?

Bitcoin is like real gold in the real world, and like valuables, Bitcoin can not be created just like that. Gold must be mined out of the ground, while Bitcoin must be mined through digital means. Associated with the process, this is a provision established by the founders of Bitcoin and it has a fairly limited supply.

[HeRetiK]

- is it a good thing? I think it is but it looks like BTC will become more a commodity and not just a payment system

For now, everything is OK and we are not facing any problems, but when all bitcoins are being mined many expect troubles.
Miners will be the first to be effected since there will be nomore block rewards and you can imagine the negative effects of miners quitting mining
due to low profitability. Consequently, the Bitcoin network will be more centralized.

How so? In 10-20 years transaction fees will already be a major part of mining income. Which means that miners have more than half a century to adjust to mining for transaction fees instead for block rewards.

- is it a good thing? I think it is but it looks like BTC will become more a commodity and not just a payment system

a currency doesn't have to be unlimited to be able to perform as a payment system!
you are comparing bitcoin to fiat (which is unlimited) and that is why you are confused.

also you are missing the fact that there are 8 decimal places after 1 bitcoin which makes it bigger for usage in case price was too high. it is something like an ingot of gold versus 1 gram of gold or gold dust for example.

It's not quite that simple. The amount of decimal places doesn't stop Bitcoin from being a deflationary currency. The way we understand economics today, inflationary (fiat) currencies are necessary to allow for economic growth via credit. The latter is up for debate of course, but human history seems to agree. It doesn't detract from Bitcoin's value either way though.