Yakamoto
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January 11, 2018, 06:27:46 AM |
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I am asking this question for my knowledge as I don't know the real fact as a newbie, We know that Bitcoin has limited supply compare to new altercoins, As the supply is not too big, Bitcoin price has become very high, My question is ,Is it impossible to increase the bitcoin supply mining new bitcoins further more ? Thanks in advance
You've got a thousand and one answers for this by now but I'll just let you know that there is no way that the total amount of Bitcoins that can ever be mined will ever be increased unless the community agrees on moving to a chain that has a higher amount of coins available to mine. The chances of that happening are, at best, slim to none. I would be more inclined to believe that the community would be more willing to reduce the total amount of coins before they would be ready to increase the number of coins available. |
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sofi@
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January 11, 2018, 06:28:42 AM |
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No, the supply of bitcoin can't be increased the only way developers can do is to introduce other alts to divert the demand of bitcoin or increased the value of bitcoin so that it can be distributed in a wide range. This fact about bitcoin is one of the disadvantage bitcoin has that I think can never be resolve but even though people still believe that bitcoin can stand alone as a global currency.
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Brunus
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Rasputin Party Mansion
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January 11, 2018, 10:07:48 PM |
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It's impossible to increase bitcoin supply, and this is exactly the power of bitcoin: you can't create inflation as with usual fiat money.
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Cryptophorus Columbus
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January 11, 2018, 11:02:47 PM |
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To increase artificially the bitcoin supply - if it was possible - would be against the core philosophy of bitcoin, that has its strength exactly in the impossibility to increase the supply.
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ajmapalo22
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January 11, 2018, 11:20:31 PM |
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I think it's impossible to increase bitcoin supply that is why many alts are introduce to divert the market of bitcoin demand. This is also the reason why bitcoin value continuously increasing so that bitcoin supply will become available in the circulation. But even though I am hoping that there would be a chance that developers find way to increase bitcoin supply
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anushkasachith888 (OP)
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January 12, 2018, 04:35:12 AM |
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Hey I don't understand this, if the BTC supply can't be increased, what do you mean by BTC mining ?
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paul00
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January 12, 2018, 04:48:11 AM |
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Hey I don't understand this, if the BTC supply can't be increased, what do you mean by BTC mining ?
As far I knew if the Bitcoin reach the maximum capacity, then the mining fee will be removed then the bitcoin that will be mine will be too low because if we will have an unlimited supply of bitcoin the value of it will be at risk. |
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manoj kumar k
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January 12, 2018, 05:01:20 AM |
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yes bitcoin supply is increaseing day by day because there is a huge demand for the bitcoin now days each and every person want to hold a bitcoin in their life
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emuLOAD
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January 12, 2018, 05:14:52 AM |
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Hey I don't understand this, if the BTC supply can't be increased, what do you mean by BTC mining ?
Do you guys even read threads AT ALL? When speaking of Bitcoin supply, we need to distinguish between two things: 1. Circulating Supply: The number of coins that are currently in users' hands. At the moment this is around 17million. 2. Total Bitcoin Supply: The maximum number of coins that can ever be held by bitcoin users. This is about 21million. There can never be more than that many. Mining, today, provides a reward based on transaction fees + "coin generation". These coins are added to the circulating supply, but are part of the "possible" 21 million coins. This reward halves every 4 years. today it'ìs 12.5 BTC per block. |
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anushkasachith888 (OP)
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January 12, 2018, 08:55:49 AM |
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Hey I don't understand this, if the BTC supply can't be increased, what do you mean by BTC mining ?
Do you guys even read threads AT ALL? When speaking of Bitcoin supply, we need to distinguish between two things: 1. Circulating Supply: The number of coins that are currently in users' hands. At the moment this is around 17million. 2. Total Bitcoin Supply: The maximum number of coins that can ever be held by bitcoin users. This is about 21million. There can never be more than that many. Mining, today, provides a reward based on transaction fees + "coin generation". These coins are added to the circulating supply, but are part of the "possible" 21 million coins. This reward halves every 4 years. today it'ìs 12.5 BTC per block. Hi emuLOAD. Now it is clear. Total Supply - Circulating Suppy = mining bitcoins at the moment. |
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rollingstorm45
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January 12, 2018, 08:58:54 AM |
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if bitcoin has unlimited supply, then investor confidence will drop and cause panic sell, so bitcoin is useless. because a party could have done something stupid that harmed all the communities
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anushkasachith888 (OP)
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January 12, 2018, 09:19:00 AM |
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if bitcoin has unlimited supply, then investor confidence will drop and cause panic sell, so bitcoin is useless. because a party could have done something stupid that harmed all the communities
When a resource has unlimited supply it has no price. ie. air, space.etc.. so how can a currency get a unlimited supply? a value emerges with meagerness |
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adriaymati58
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January 12, 2018, 09:25:59 AM |
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I think because it is limited it's value will grow. Look at good. When it wasn't all mined, it wasn't as valuable as now, But now, because it has a limited supply became more valuable
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The best is yet to come!
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sugihe
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January 12, 2018, 09:37:15 AM |
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As it was said above increasing Bitcoin supply will lead to its deflation. It's logic due to economical rules. When there is a lot emission of currency it's inflation that causes drop in price. If there is no emission currency price is eventually going up.
That is the first impact in price. It will go down when huge supply added to bitcoin. The second impact is people will lost their trust to bitcoin because it is like developer want to gain much money. |
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ezcrigbagk
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January 12, 2018, 09:41:28 AM |
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Increasing the amount of available/ minable bitcoins will have a direct impact on it's price. If the Supply is higher than the demand, the price will drop and vice-versa. The point is it's not a good idea to increase the Bitcoin cap.
I agree with you very much, in the future the new bitcoin should be less and less. |
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mrqzwoboi
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January 12, 2018, 09:52:28 AM |
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Many people now are investing to bitcoin..the more investments the higher the supply..
Yes, as more and more people understand and get involved, the new bitcoin may get less and less. |
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SHAWN-MIDWAYS
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January 12, 2018, 10:02:31 AM |
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I am asking this question for my knowledge as I don't know the real fact as a newbie, We know that Bitcoin has limited supply compare to new altercoins, As the supply is not too big, Bitcoin price has become very high, My question is ,Is it impossible to increase the bitcoin supply mining new bitcoins further more ? Thanks in advance
Even with the limited total supply bitcoins do technically increase as they are not all mined and if you mean having to increase the total supply itself...its very much possible to do so but this has less benefits to value so few would support this |
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saiha
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January 12, 2018, 10:07:14 AM |
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Is it impossible to increase the bitcoin supply mining new bitcoins further more ? Thanks in advance
You're right, increasing the bitcoin supply is very impossible. We can't supply more bitcoins by adding the 21 Million total supply limit. But not all of it has been mined and the total number supply that's rotating is 16M so there is still 5 M to be mined. |
Vires in Numeris
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kache2018
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January 12, 2018, 10:10:28 AM |
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For me I think it is fair to say that Bitcoin cannot increase its supply because it is ruled under a decentralized cryptocurrency wherein it is run by many people/individuals who are known as primary investors and a maximum capital is reached depending on their respective contributions. On the other hand, centralized financial entities is controlled/maintained by the government and the supply of money is monitored depending on the demand of the market. This happens when the amount of money of an individual/business entity is less circulated with the community.
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zenrol28
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January 12, 2018, 10:19:16 AM |
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I am asking this question for my knowledge as I don't know the real fact as a newbie, We know that Bitcoin has limited supply compare to new altercoins, As the supply is not too big, Bitcoin price has become very high, My question is ,Is it impossible to increase the bitcoin supply mining new bitcoins further more ? Thanks in advance
The question is, are we still alive even the max supply increased? Every 4 years block rewards is being halve. It is estimated that the last bitcoin to be produce will be on 2140, so there is still a century before new bitcoin runs out. i think it is impossible to increase bitcoin's max supply because just like gold, it cannot be produced if it is mined out. |
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