Increasing Bitcoin supply

[zoose]

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

There have been many discussions about this and it can be done. But that would be one hell of a battle!

[indopool]

i dont say it is possible but if bitcoin is created more than 21 million, surely inflation will occur making bitcoin value drop very quick and no one will ever want to use bitcoin anymore, so keeping the supply of bitcoin is 21 million is very important that we must do for our sakes.

[Bkjones]

Hey i am bkjones ! As i know Bitcoin supply increases when its demand gona increases because in today condition some much peoples know about Bitcoin but everyone haven't knowledge about it

[louie69]

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

There have been many discussions about this and it can be done. But that would be one hell of a battle!

As per article that I had read, Bitcoin cryptocurrency is limited only to 21M in circulation meaning no possibility of increasing its supply as this will impact the price of bitcoin thus altering the original plan of the originator.

[A.Delaney]

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

Yes. It is so possible. Actually, Bitcoin mining makes the supply increase. The only thing makes the miners trying to mine moreis because of the Bitcoin's price. They tend to mine many Bitcoins to gain money. They are buying high specifications laptop or computer set in able for them to mine many Bitcoins. But, Always remember that if the supply is limited, The Price is getting higher and higher. This is the advantage of miners. Start mining.

Miners increase available supply to increase _exclusively_ as long as we are below 21 million coins. As mentioned, mining rewards will reach 0 after a few years . because of the way bitcoin works, overall coin creation speed won't change regardless of power of mining.

How many years is a few years?

[akiraminai]

I think an increase in supply won't change that much. If and only if there will also an increase in shops that accepts bitcoin as primary payment. Furthermore, the supply and demand will be in equilibrium state that the ripple won't be disrupted.

[dama12]

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

Block rewards gets halved every 4 years and eventually it will become ~0, AFAIK it will he around 2132 or something. But I think most of BTC will be mined a lot before that.

increasing the bitcoin supply will leads to the dicrease in the price. Not unlease you change the way bitcoin was set to be released and this is an awful idea.

[dama12]

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

Yes. It is so possible. Actually, Bitcoin mining makes the supply increase. The only thing makes the miners trying to mine moreis because of the Bitcoin's price. They tend to mine many Bitcoins to gain money. They are buying high specifications laptop or computer set in able for them to mine many Bitcoins. But, Always remember that if the supply is limited, The Price is getting higher and higher. This is the advantage of miners. Start mining.

Miners increase available supply to increase _exclusively_ as long as we are below 21 million coins. As mentioned, mining rewards will reach 0 after a few years . because of the way bitcoin works, overall coin creation speed won't change regardless of power of mining.

How many years is a few years?

increase supply bitcoin are  needed to many people..but everyone needs to know about it

[KuromaYoichi]

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

It's impossible to increase the supply of bitcoin but the fact that bitcoin has limited supply is one of the thing that makes it expensive, if the supply is unlimited then the value of bitcoin will be way lower than now.

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

Yes. It is so possible. Actually, Bitcoin mining makes the supply increase. The only thing makes the miners trying to mine moreis because of the Bitcoin's price. They tend to mine many Bitcoins to gain money. They are buying high specifications laptop or computer set in able for them to mine many Bitcoins. But, Always remember that if the supply is limited, The Price is getting higher and higher. This is the advantage of miners. Start mining.

Miners increase available supply to increase _exclusively_ as long as we are below 21 million coins. As mentioned, mining rewards will reach 0 after a few years . because of the way bitcoin works, overall coin creation speed won't change regardless of power of mining.

How many years is a few years?

The last bitcoin will be mined in year 2140, so it's still a long way there and there's a lot of halving before we reach to that point that can make bitcoin value rise even more.

[emuLOAD]

Miners increase available supply to increase _exclusively_ as long as we are below 21 million coins. As mentioned, mining rewards will reach 0 after a few years . because of the way bitcoin works, overall coin creation speed won't change regardless of power of mining.

How many years is a few years?

It halfs ever 210,000 blocks, which is roughly 4 years.
This is a nice countdown ^^ http://www.bitcoinblockhalf.com/

you can easily see how even in just 40 years time you'll half 5 times. In 2058 each block will be Worth little more than a hundreth of today (about 0.2 BTC), in 2140 bitcoin reaches asymtotic stagnation.

[anushkasachith888]

I have heard that China mining bitcoin, Then what they do called "mining"  if the BTC supply is constant ?

[ismelda_ita]

my opinion, if bitcoin supply is Increasing then there is likely to be more recent system changes again to boost the market going forward

[kasansa]

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

Doing such thing would be going directly against the decision of satoshi who programmed it to be 21 million coins.It is due to this reason, bitcoin is completely free from inflation. People keep trust in it as it's value would increase more in future.Otherwise,just like US dollar, bitcoin value also would get decreased.

[BILGPS]

Yes the bitcoin supply high in the market due to the price rise people sold their coins in the last of this year so because of that the bitcoin supply high in the market which is not good but it is not the problem there are so many other uses of bitcoin have started now in the new year and those who have sold bitcoin they will ready to buy this again.

[pooya87]

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

Doing such thing would be going directly against the decision of satoshi who programmed it to be 21 million coins.It is due to this reason, bitcoin is completely free from inflation. People keep trust in it as it's value would increase more in future.Otherwise,just like US dollar, bitcoin value also would get decreased.

you are correct about the second part, the deflation and the limit. but you are wrong about first part. Satoshi's  decision doesn't matter one bit, so does any other individual's decision. we are talking about a decentralized system and such systems work based on the consensus of the whole system (all the users that are involved in it) not decision of some individual(s).

[emuLOAD]

I have heard that China mining bitcoin, Then what they do called "mining"  if the BTC supply is constant ?

Let's try to make this even clearer.

Bitcoin has a maximum possible supply of 21 million coins. On day 0, nobody had any coins, so "circulating supply" was 0.

every block found by a miner generates a reward of 50 bitcoin. These bitcoin increase the circulating supply, but NOT the total supply (which will Always be 21 million). Today, we have mined almost 17 million coins. Ever 210,000 blocks found the reward halves. This means that about every 4 years the increase in "circulating supply" drops by half. We've had two halfings so far, next one should be around 2020.

Even if we concentrate on the current "increase in circulating supply", it's easy to see how this is effectively irrelevant as far as price goes, as the rate is far lower than the market can absorb without major problems. But do keep in mind every coin mined is still part of that 21 million allocation.

if you want, the coins arn't being created, they are being "discovered".

[barabut]

While four of the five largest currencies of the cryptographic currency market, which are used via the Internet and are not affiliated with any central authority or brokerage house, but which are experiencing severe fluctuations due to "regulation" news from different countries in recent days, fall in the crypto money market volume declined by 5.5 percent to 783 billion dollars. Deciphered by the crypto money market, which was formed by 1384 crypto money, Bitcoin dropped by 5.39 percent in the last 24 hours and dropped to 16 thousand 107 dollars. While Bitcoin represents 34.5 percent of the $ 783 billion cryptographic currency market, the last 24 hours of the cryptographic currency market is estimated at $ 44 billion.

The daily changes in the crypto currencies in the market value rankings are as follows: Bitcoin 5.39 percent, Ripple 18.91 percent, Bitcoin Cash 14.81 percent and Cardano 2.88 percent, Ethereum 10.25 percent.

[millgates]

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

Your question is so technical. It's impossible to increase the maximum amount of bitcoin, come on mate, bitcoin can be divided into eight decimals. It's more than enough, our problem is only term of bitcoin transactions that still high. I hope there is a solution for this.

[Kotone]

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

I think it can be actually however I dont think that was the original designs and purpose of its creator and author. I do however would like to explore on the options on what if we exhasusted all the bitcoin supply on whether it would still matter

[barabut]

Vs. Supply on the demand side I estimate that the number of people who have been aware of Bitcoin until now is quite small compared to the number of people who are currently aware of the Bitcoin, and now the stock market has stopped buying new members intensively, Bitcoin has just begun to be recognized.