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Author Topic: Limit of Bitcoin  (Read 489 times)
teddyppap (OP)
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February 11, 2018, 03:36:27 PM
 #1

I think about Bitcoin, and this is just my meaning.
As you know Bitcoin is limit. Total of Bitcoin is 21 million, we have dug nearly 16.8 million Bitcoin. Neither founder can not create more Bitcoin. Is this  the reason for raising Bitcoin price high and it's also cause for Bitcoin price reduction when we have nearly reached 21 million.

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emuLOAD
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February 11, 2018, 03:59:10 PM
 #2

IT depends how it compares with capital gain and income tax in the country in general, and how they handle losses. Also depends when they calculate capital gain (at the moment of conversion to JPY, or each conversion between different cryptos).

55% on insane free money this year would have been just fine. it won't be fine when (if) crypto ever stabilizes. there again, it's early days, and governments will need some time to tune things.

the clearer the regulations the better.
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February 11, 2018, 04:59:35 PM
 #3

Once the limit of 21 million Bitcoins has been reached, price will continue to increase since there will theoretically be less Bitcoin exchanged on the blockchain. More people will own Bitcoin and forget their private key which means that Bitcoin will now be inaccessible. Therefore, there will be less Bitcoin in the system as time goes on, driving up demand, driving up prices.  Smiley

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bilal_jan321
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February 11, 2018, 05:34:14 PM
 #4

I think about Bitcoin, and this is just my meaning.
As you know Bitcoin is limit. Total of Bitcoin is 21 million, we have dug nearly 16.8 million Bitcoin. Neither founder can not create more Bitcoin. Is this  the reason for raising Bitcoin price high and it's also cause for Bitcoin price reduction when we have nearly reached 21 million.


your question has the answer. since we have a finite number of BTC, it will remain free from inflation. which means price will go only up

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HeRetiK
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February 11, 2018, 05:53:21 PM
 #5

Once the limit of 21 million Bitcoins has been reached, price will continue to increase since there will theoretically be less Bitcoin exchanged on the blockchain. More people will own Bitcoin and forget their private key which means that Bitcoin will now be inaccessible. Therefore, there will be less Bitcoin in the system as time goes on, driving up demand, driving up prices.  Smiley

What you describe is supply decreasing, not demand increasing. Yes, once all Bitcoins have been mined the Bitcoin supply will effectively decrease, due to lost coins etc. This is something we can safely assume.

What we don't know, however, is whether demand will actually increase or even stay at current levels. If there's no demand for Bitcoin, even a reduced supply won't help the price much. In other words, a sustained increase of Bitcoin's price in fiat terms is far from a sure thing, despite Bitcoin's (long-term) deflationary nature.
sumangs
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February 11, 2018, 05:55:33 PM
 #6

I think about Bitcoin, and this is just my meaning.
As you know Bitcoin is limit. Total of Bitcoin is 21 million, we have dug nearly 16.8 million Bitcoin. Neither founder can not create more Bitcoin. Is this  the reason for raising Bitcoin price high and it's also cause for Bitcoin price reduction when we have nearly reached 21 million.


Basic demand and supply concept. As soon as all bitcoins are mined the supply will converge to zero it means that demand will rise because there are almost no bitcoins left and many people are striving to have it. The bitcoin's popularity also affects the demand to be high due to its features and investment purpose. This why bitcoin is powerful because it is popular and has a less supply. So better try to invest in a low supply altcoins that have a potential to be a rewarding investment.
RonJohannson
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February 11, 2018, 05:59:25 PM
 #7

The demand will depend on use cases.  If merchants begin accepting bitcoin as a payment, or if countries and governments begin sanctioning usage of bitcoin or cryptocurrency in general, then the demand for this useful coin will increase and drive up the price.  That could take a lot of convincing, but it is possible. 
Hopeful2017
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February 11, 2018, 05:59:36 PM
 #8

I think about Bitcoin, and this is just my meaning.
As you know Bitcoin is limit. Total of Bitcoin is 21 million, we have dug nearly 16.8 million Bitcoin. Neither founder can not create more Bitcoin. Is this  the reason for raising Bitcoin price high and it's also cause for Bitcoin price reduction when we have nearly reached 21 million.


This means the demand for Bitcoin would rise and the price would also increase. This will gonna be good for those people who have Bitcoin for long time. The price would be so much valuable that you cannot even tempted to sell your bitcoin and just keep on holding it until the price reach the highest.

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February 11, 2018, 06:53:46 PM
 #9

There shouldn't be a price reduction in any way if you think about it because the limit of bitcoin is really there to limit the amount of inflation which happens throughout time. PLUS, if we're limited it just means that less bitcoin could be used to buy things in the future. As more people will actually have less Bitcoin, so it is a very good thing.

It's better than traditional currency, as it isn't going to just print out whenever people feel like it. Once we've stopped printing it's over, and that's it.




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February 11, 2018, 07:49:51 PM
 #10

I think about Bitcoin, and this is just my meaning.
As you know Bitcoin is limit. Total of Bitcoin is 21 million, we have dug nearly 16.8 million Bitcoin. Neither founder can not create more Bitcoin. Is this  the reason for raising Bitcoin price high and it's also cause for Bitcoin price reduction when we have nearly reached 21 million.


I'm sorry but you all got it wrong, once we reach the 21 million the price will even go higher. Why? Because bitcoin is limited and getting close to 21 million mined will make it very scarce, and with the huge demand, the price will literally grow exponentially. Also you need to take note that bitcoin has its halving, meaning that blocks is going to be cut in half. So there's a possibility that the price could also increase as well.



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February 11, 2018, 08:04:45 PM
 #11

I think about Bitcoin, and this is just my meaning.
As you know Bitcoin is limit. Total of Bitcoin is 21 million, we have dug nearly 16.8 million Bitcoin. Neither founder can not create more Bitcoin. Is this  the reason for raising Bitcoin price high and it's also cause for Bitcoin price reduction when we have nearly reached 21 million.


I'm sorry but you all got it wrong, once we reach the 21 million the price will even go higher. Why? Because bitcoin is limited and getting close to 21 million mined will make it very scarce, and with the huge demand, the price will literally grow exponentially. Also you need to take note that bitcoin has its halving, meaning that blocks is going to be cut in half. So there's a possibility that the price could also increase as well.



I wonder if we are still alive at that time since after all the halving is done and until there is no more Bitcoin to be halve the price would literally increased exponentially e.g. 0.000001 BTC = $100,000. While there is no Bitcoin to be mined all the available Bitcoin will be circulating and there is no miner will be used at this state since there is no Bitcoin left to mine.

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February 11, 2018, 08:05:23 PM
 #12

I think about Bitcoin, and this is just my meaning.
As you know Bitcoin is limit. Total of Bitcoin is 21 million, we have dug nearly 16.8 million Bitcoin. Neither founder can not create more Bitcoin. Is this  the reason for raising Bitcoin price high and it's also cause for Bitcoin price reduction when we have nearly reached 21 million.

Bitcoin has come a long way since it had started and I do believe that it will further grow but still it does have limitations such as firstly, even after so many years it’s pop has not even come little close to popularity of fiat currency. Still most of the people don’t know what bitcoin is. Secondly,, internet is its limitation. Bitcoin requires a stable internet connection and still there are many countries on this planet where internet is not available leading to no bitcoin.
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February 11, 2018, 08:08:32 PM
 #13

Once the limit of 21 million Bitcoins has been reached, price will continue to increase since there will theoretically be less Bitcoin exchanged on the blockchain. More people will own Bitcoin and forget their private key which means that Bitcoin will now be inaccessible. Therefore, there will be less Bitcoin in the system as time goes on, driving up demand, driving up prices.  Smiley
Once it becomes rarer and rarer to mine bitcoins, then will those who choose to hold their bitcoins enjoy so many profits because in economics terms once something gets hard to acquire, its value goes really up.
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February 11, 2018, 08:11:23 PM
 #14

There are only 21,000,000 bitcoin every where in the whole world. There will be no more creation of Bitcoin. The  brice of bitcoin will continue to rise when there are few bitcoin released by individuals holding it. But when there is FUD as we witness in the past weeks holder tends to sell in panic and there will be more bitcoin in the market thereby draging the price down.
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February 11, 2018, 08:12:21 PM
 #15

Of course, the more bitcoins we extract, the greater the value of bitcoin, as it increases its capitalization. When bitcoins are dug out everything, bitcoin will be very expensive.

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February 11, 2018, 08:33:40 PM
 #16

21 million is the limit of bitcoin but already 80 percent bitcoin is in circulation
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February 11, 2018, 08:41:52 PM
 #17

Hello! I doubt about the answer! You know there was some opinions about last bitcoin! At some point in the future, approximately  around 2140, the last Bitcoin will be mined. On my opinion this is big distance to try predict something about our path and about bitcoin price.

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February 11, 2018, 08:41:56 PM
 #18

I think about Bitcoin, and this is just my meaning.
As you know Bitcoin is limit. Total of Bitcoin is 21 million, we have dug nearly 16.8 million Bitcoin. Neither founder can not create more Bitcoin. Is this  the reason for raising Bitcoin price high and it's also cause for Bitcoin price reduction when we have nearly reached 21 million.

If people want to purchase Bitcoin then they can. It can also work the other way, if no one wants it then the price will be low.

 
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February 11, 2018, 08:43:39 PM
 #19

21 million is the limit of bitcoin but already 80 percent bitcoin is in circulation
The volume is actually much smaller, as far as I know, in the crypto market only about 16 million bitcoins are in circulation. That's a very small amount, so bitcoin is scarce so you can understand why bitcoins are so valuable.
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February 11, 2018, 08:49:12 PM
 #20

IT depends how it compares with capital gain and income tax in the country in general, and how they handle losses. Also depends when they calculate capital gain (at the moment of conversion to JPY, or each conversion between different cryptos).

55% on insane free money this year would have been just fine. it won't be fine when (if) crypto ever stabilizes. there again, it's early days, and governments will need some time to tune things.

the clearer the regulations the better.

Yep! We are standing under the new adoption of crypto from different countries or even union of them as they are sure for now that they just can`t simly ban Bitcoin.
And in the first stage of this adoption every country would want to benefit more. But then compettion will make this fines, fees, taxes to belower as only the wisest  will win the more)
As to the circulating supply of the BTC, I think that in the near future (2-3 years) it wouldn`t cause the change of the price! And, by the way, nobody exactly knows what supply is burnt by loosing the keys to the wallets.

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