Why are Bitcoin investors convincing themselves that there are only 21 Million ?

[HowReally]

A huge driving proponent of bitcoin is that there are only 21 million coins and the underlying implication is that there will be only that amount of units in whole to purchase/trade.

Yes, although there will be 21 million bitcoins ever generated cumulatively, you don't necessarily have to own 1 whole bitcoin to own bitcoin, correct? You can own parts of a bitcoin. You can own up to the 8th decimal point of an entire bitcoin if I am not mistaken.

So it's a fact that you can own fractions of an entire bitcoin. In fact most in the world will not be able to own an entire whole bitcoin if prices keep driving up.

It's also a fact that there will ALWAYS be someone in the world SELLING their fractions and/or whole amounts of bitcoins.


And once you hit 21 million coins, and with an assumption that no one will be selling their bitcoin, then bitcoin prices will be at halt, unable to drive prices up any further.

Most that own today, will be selling at one point or another. There will always be a buying opportunity for bitcoin even after the 21 millions have been generated as a result and even then you can buy fractions of an entire coin, so the 21 million whole 'units' figure that is implicated is false.

Some clever mathematicians (John Mcafee, cough) have based their equations on the fact that there will be only 21 whole some units of bitcoin to buy without considering that an entire bitcoin can be split up and thus the quantity of units available for purchase/trade are now more than 21 million. In addition, many believe that no one will be selling their shares of the 21 million alleged whole units and that this is the only opportunity to purchase.

[Cammo01]

It's a finite quantity.. sure they can be split into many pieces, but something is worth what someone is willing to pay for it.. Take gold for example...

[yoseph]

According to the creator and the algorithm there is a fixed amount which is the 21 Million that you just started and i doubt that Satoshi would try dust into our eyes if there was an infinite amount of bitcoins but time would tell if thats true or not.

[jseverson]

A huge driving proponent of bitcoin is that there are only 21 million coins and the underlying implication is that there will be only that amount of units in whole to purchase/trade.

Yes, although there will be 21 million bitcoins ever generated cumulatively, you don't necessarily have to own 1 whole bitcoin to own bitcoin, correct? You can own parts of a bitcoin. You can own up to the 8th decimal point of an entire bitcoin if I am not mistaken.

So it's a fact that you can own fractions of an entire bitcoin. In fact most in the world will not be able to own an entire whole bitcoin if prices keep driving up.

It's also a fact that there will ALWAYS be someone in the world SELLING their fractions and/or whole amounts of bitcoins.


And once you hit 21 million coins, and with an assumption that no one will be selling their bitcoin, then bitcoin prices will be at halt, unable to drive prices up any further.

Most that own today, will be selling at one point or another. There will always be a buying opportunity for bitcoin even after the 21 millions have been generated as a result and even then you can buy fractions of an entire coin, so the 21 million whole 'units' figure that is implicated is false.

Some clever mathematicians (John Mcafee, cough) have based their equations on the fact that there will be only 21 whole some units of bitcoin to buy without considering that an entire bitcoin can be split up and thus the quantity of units available for purchase/trade are now more than 21 million. In addition, many believe that no one will be selling their shares of the 21 million alleged whole units and that this is the only opportunity to purchase.

What's the point you're getting at here? I'm confused. Bottom line is that there will only ever be 21 million Bitcoins, and each right now can be subdivided into 100 million units, and they will all be worth more and more as demand increases. They only ever say that there's only 21 million because that's the correct way of saying it. Would you rather they say there will only ever be 21000000 x 100000000 satoshis?

[MiF]

According to the creator and the algorithm there is a fixed amount which is the 21 Million that you just started and i doubt that Satoshi would try dust into our eyes if there was an infinite amount of bitcoins but time would tell if thats true or not.

Yes, I agree on you.  Bitcoins has an infinite amount of money but they say that it was just 21 million because they are avoiding disappoinments by themselves. Bitcoin must keeps on increasing I guess but investors keeps us believe that it was just until 21 million because they are worried that we will be disappointed but the truth is bitcoin price is an infinite. We dont know how much it is.

[fanbeila]

Yes.What you have said is correct.No need to get FOMO.Even if whole bitcoin is not available,still satoshis are available which would be much valuable after 21 million coins gets mined.This is the major fact which even newbies miss out when hearing for the first time about bitcoin and saying that they would not be able to afford to buy such a high priced bitcoin.So,as per your opinion,don't get worried since you would have atleast valuable satoshis to invest.

[minersday]

It's a finite quantity.. sure they can be split into many pieces, but something is worth what someone is willing to pay for it.. Take gold for example...

There is a fixed supply, and no one can change that, not even the real satoshi nakamoto (and we do not know if he is really alive or if he is dead/have ever existed)

But yes, they can be divided in other pieces, or just be forked, like it happened with bitcoin cash on the past.

Nowadays there are a lot of forks, but they are not the same, they are just for profit purposes, they are not taking the main "reason" of creating a fork, they are just using that idea to fill out their pockets, nothing more.


There is a fixed supply and no one is able to change that.

[jseverson]

It's a finite quantity.. sure they can be split into many pieces, but something is worth what someone is willing to pay for it.. Take gold for example...

There is a fixed supply, and no one can change that, not even the real satoshi nakamoto (and we do not know if he is really alive or if he is dead/have ever existed)

But yes, they can be divided in other pieces, or just be forked, like it happened with bitcoin cash on the past.

Nowadays there are a lot of forks, but they are not the same, they are just for profit purposes, they are not taking the main "reason" of creating a fork, they are just using that idea to fill out their pockets, nothing more.


There is a fixed supply and no one is able to change that.

The community can possibly change that. A fork could increase the supply, technically, but doing that would be shooting ourselves in the foot. It's both impractical and unnecessary. If satoshis rise in value so much that they become unviable as the smallest denomination unit, then it makes much more sense to simply allow even smaller divisions.

[Herbert2020]

A huge driving proponent of bitcoin is that there are only 21 million coins and the underlying implication is that there will be only that amount of units in whole to purchase/trade.

no. it is not a  huge driving "proponent".
what is important is that bitcoin supply will be limited and will be limited to a reasonable number. it is not small like 1 million and it is not huge like 100 million.
and it is not the "unit" of bitcoin, the unit is 1 satoshi.

Yes, although there will be 21 million bitcoins ever generated cumulatively, you don't necessarily have to own 1 whole bitcoin to own bitcoin, correct? You can own parts of a bitcoin. You can own up to the 8th decimal point of an entire bitcoin if I am not mistaken.
So it's a fact that you can own fractions of an entire bitcoin. In fact most in the world will not be able to own an entire whole bitcoin if prices keep driving up.
It's also a fact that there will ALWAYS be someone in the world SELLING their fractions and/or whole amounts of bitcoins.

correct!

And once you hit 21 million coins, and with an assumption that no one will be selling their bitcoin, then bitcoin prices will be at halt, unable to drive prices up any further.

your assumption is wrong. and it doesn't matter if we "hit 21 million" or not.
there will always be some people who sell and some who buy and some who hold. and the balance between these 3 groups decides which way price is going. if the sells and buys are at a balance price will stay stable and if one is bigger price will move in that direction. and again it has nothing to do with 21 million limit.

Most that own today, will be selling at one point or another. There will always be a buying opportunity for bitcoin even after the 21 millions have been generated as a result and even then you can buy fractions of an entire coin, so the 21 million whole 'units' figure that is implicated is false.

this doesn't even make sense! the limit is there regardless of people buying or selling or holding!
and again as i said about people are selling and some others are buying at all times that is how any market works.

Some clever mathematicians (John Mcafee, cough) have based their equations on the fact that there will be only 21 whole some units of bitcoin to buy without considering that an entire bitcoin can be split up and thus the quantity of units available for purchase/trade are now more than 21 million. In addition, many believe that no one will be selling their shares of the 21 million alleged whole units and that this is the only opportunity to purchase.

you are misinterpreting what people are saying for some reason!
i suggest you educate yourself about "Supply and Demand" which is a pretty basic topic and it is exactly the same with literary anything else in the world including bitcoin, gold, stocks, fiat, potato,...

[junoreactor]

Well so far Bitcoin has proved to be (very) deflationary (and yes it is deflationary by nature), I think no one can deny that today.

[CryptoBry]

Of course, there will always be the maximum supply of just 21 Million but since the value can be rising every satoshi then can be so valuable. So our mindset should not be focusing more on 1 Bitcoin but what we can afford to buy. You may choose just .1 or just .01 and that would already be valuable against the US Dollar. I am predicting that soon people would likewise be talking how much satoshi they got rather than the whole Bitcoin which can be astronomically high years from now.

[ojherpeu]

It is very correct to have such a design from the beginning, and now it seems that bitcoin will be able to resist inflation perfectly. People even call it electronic gold.

[Tmdz]

There will not even be 21 million bitcoins once you take into account lost bitcoin and the 1 million bitcoins that our prophet Satoshi has locked up.

Everyone I assume would like to own a whole bitcoin, sure you can buy a fraction but it is not the same as saying you own an entire bitcoin.  Currently you must have a decent amount of money to afford a whole bitcoin, most people can't do it.  In the future a whole bitcoin will be reserved for the very wealthy.

[andthereyou]

It is very correct to have such a design from the beginning, and now it seems that bitcoin will be able to resist inflation perfectly. People even call it electronic gold.

Correct! Many people now treasured bitcoin like gold. One family in netherland sold everything for bitcoin and I think that they have made the right choice. I hope that they will not convert bitcoin to fiat while the bitcoin is rising now.

[BTCforJoe]

Let's put this in a way that is easier to understand. It seems as if you're confused as to how the 21m Bitcoin cap works.

Let's say, for argument's sake, that there is only 1 billion dollars of US currency available, and hypothetically speaking, that the Federal Reserve will never print additional currency into circulation again. Let's say that I break up the dollar into cents. I send someone 25 cents, and they, in turn, send 20 cents to someone else, who then sends 10 cents to someone else. Does this mean that there is more than 1 billion dollars of currency available? Nah.

How is bitcoin any different? I'm trying to follow your argument, OP, but you're saying that there will be more than just 21 million bitcoin because people can own up to 8 decimals of a fraction of bitcoin? Maybe I'm confused as to what you're trying to portray, but then your title is misleading.

If you're simply referring to the fact that bitcoin doesn't have to purchased as a whole unit (of Bitcoin), then yes, you're absolutely correct. But if you're trying to implicate that there will be more than 21 million bitcoins in circulation when all are mined, then what the hell are you talking about?? lol

[danggoron]

yes, from the beginning bitcoin was made only 21 million bitcoins that would periodically be mined in an amount that was reduced by half, this was already set and programmed, could have changed if the protocol changed. but that is likely very small, because that makes the bitcoin price continues to grow is due to the limited amount.