Bitcoin Forum
January 16, 2018, 11:41:11 PM *
News: Electrum users must upgrade to 3.0.5 if they haven't already. More info.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Total bitcoins limit  (Read 2204 times)
Chooseusername
Member
**
Offline Offline

Activity: 97


View Profile WWW
July 20, 2010, 05:33:31 PM
 #1

Is total bitcoins limit is a software limitation, or there are mathematical barriers to make this limit bigger?
1516146071
Hero Member
*
Offline Offline

Posts: 1516146071

View Profile Personal Message (Offline)

Ignore
1516146071
Reply with quote  #2

1516146071
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
Some Mouse
Jr. Member
*
Offline Offline

Activity: 51


View Profile
July 20, 2010, 05:49:42 PM
 #2

Software, mostly. If you gave out too many you would risk hash collisions, however.
raven1322
Full Member
***
Offline Offline

Activity: 173



View Profile
November 28, 2017, 02:34:13 PM
 #3

Is total bitcoins limit is a software limitation, or there are mathematical barriers to make this limit bigger?
if I'm not mistaken there would only be a total of 21M bitcoin to be generated via hash or the miners. Not sure what would happen to the value by then.

CΛVIΛR       CRYPTO & REAL ESTATE INVESTMENT FUND DIVERSIFICATION & CROWDFUNDING
[ PRE-ICORunning Now!! ]     [     ICO    ▶  December 12th ]

▐ ██ ███ ████            TWITTER        ●        TELEGRAM        ●        REDDIT            ████ ███ ██ ▌
alex_rada
Full Member
***
Offline Offline

Activity: 154


This is bat country!


View Profile
November 28, 2017, 02:58:29 PM
 #4

Is total bitcoins limit is a software limitation, or there are mathematical barriers to make this limit bigger?

There are no mathematical or software barriers whatsoever. I recommend you read this post for a better understanding: https://bitcointalk.org/index.php?topic=3366.msg47843#msg47843

Aura
Sr. Member
****
Offline Offline

Activity: 308



View Profile
November 28, 2017, 03:16:07 PM
 #5

The max supply is realized by a process called 'Halving' it simply does what it says it halves the reward for mining a block. At the very beginning this reward was an amount of 50 BTC, after 210.000 blocks were mined this reward halved to 25 BTC. It happens every 210,000 blocks, which is equal to about 4 years when you assume that blocks are mined every 10 minutes. The current block reward is 12,5 BTC, approximate mid June 2020 the reward will halve again to 6,25 BTC. More information including a countdown timer can be found on http://www.bitcoinblockhalf.com/ .

       ▀
   ▄▄▄   ▄▀
   ███ ▄▄▄▄  ██
       ████
    ▄  ▀▀▀▀
▄▄
      ██    ▀▀
██▄█▄▄▄████████
▄▄▄▄▄▄▄▄▀▀███▀▀▀
██████████████████
████▄▀▄▀▄▀███▀▀▀▀▀
████▄▀▄▀▄▀███ ▀
████▄▀▄▀▄▀████████
▀█████████████████
]
CoinPayments
█████
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████
█████
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████
█████
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████
heureca
Sr. Member
****
Offline Offline

Activity: 420



View Profile
November 28, 2017, 03:20:31 PM
 #6

The max supply is realized by a process called 'Halving' it simply does what it says it halves the reward for mining a block. At the very beginning this reward was an amount of 50 BTC, after 210.000 blocks were mined this reward halved to 25 BTC. It happens every 210,000 blocks, which is equal to about 4 years when you assume that blocks are mined every 10 minutes. The current block reward is 12,5 BTC, approximate mid June 2020 the reward will halve again to 6,25 BTC. More information including a countdown timer can be found on http://www.bitcoinblockhalf.com/ .

Good explanation Smiley I think it will be some problems with mining soon - at least for personal users it already occurred)

           ▄▄█████████▄▄
       ▄████▀▀       ▀▀████▄
     ▄██▀▀               ▀▀██▄
    ██▀                    ████
   ██                     ███▀██
  ██                    ▄██▀   ██
 ██                    ▄██      ██
██▀                  ▄██▀      ▄███
██                  ▄██      ▄██▀██
██                 ██▀    ▄███▀  ██
██               ▄██▀   ▄██▀     ██
██▄             ▄██  ▄███▀      ▄██
 ██           ▄██▀ ▄██▀         ██
  ██         ▄██▄███▀          ██
   ██       █████▀            ██
    ██▄   ▄████▀            ▄██
     ▀██▄███▀            ▄▄██▀
       ▀████▄▄       ▄▄████▀
           ▀▀█████████▀▀
L I V E T R E E   A D E P T TM
Own the future of entertainment
The World's 1st Community-Powered,
Film, TV and Content Network  ★
Aura
Sr. Member
****
Offline Offline

Activity: 308



View Profile
November 28, 2017, 05:07:37 PM
 #7

The max supply is realized by a process called 'Halving' it simply does what it says it halves the reward for mining a block. At the very beginning this reward was an amount of 50 BTC, after 210.000 blocks were mined this reward halved to 25 BTC. It happens every 210,000 blocks, which is equal to about 4 years when you assume that blocks are mined every 10 minutes. The current block reward is 12,5 BTC, approximate mid June 2020 the reward will halve again to 6,25 BTC. More information including a countdown timer can be found on http://www.bitcoinblockhalf.com/ .

Good explanation Smiley I think it will be some problems with mining soon - at least for personal users it already occurred)
Thank you. You're right, Bitcoin mining is getting really expensive lately. I think that's because there are currently only 2 companies that manufacture these ASIC miners, they can manipulate the price as they want it because they have monopoly. It's quite bad for the decentralization that GPUs got useless when mining Bitcoin as these were publicly available and could be used in every price-class. Let's hope the the growing tendency to more expensive mining equipment gets tackled.

       ▀
   ▄▄▄   ▄▀
   ███ ▄▄▄▄  ██
       ████
    ▄  ▀▀▀▀
▄▄
      ██    ▀▀
██▄█▄▄▄████████
▄▄▄▄▄▄▄▄▀▀███▀▀▀
██████████████████
████▄▀▄▀▄▀███▀▀▀▀▀
████▄▀▄▀▄▀███ ▀
████▄▀▄▀▄▀████████
▀█████████████████
]
CoinPayments
█████
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████
█████
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████
█████
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████
ETFbitcoin
Legendary
*
Offline Offline

Activity: 1190


Use SegWit/LN and enjoy lower fees


View Profile
November 28, 2017, 05:12:43 PM
 #8

If you're talking limitation in technology, there aren't any. The only limitation is we haven't find way for bitcoin scaling for mass adoption or process thousand transaction per second without sacrifice decentralization because it won't allow regular people able to run full nodes.

Is total bitcoins limit is a software limitation, or there are mathematical barriers to make this limit bigger?
if I'm not mistaken there would only be a total of 21M bitcoin to be generated via hash or the miners. Not sure what would happen to the value by then.
It's not software limitation, but Satoshi designed the limit. Of course the total can be increase theoretically.



              ▄▄              ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
             ████         ▄▄██████████████████
            ██████       █████████████████████
           ████████     ██████████████████████
          ██████████   ▐███████▀
         ████████████  ▐███████▄
        ██████████████  ████████████████████████▄
       ████████▀███████  ██████████████████████████
      ████████   ███████  ▀▀████████████████████████
     ████████     ███████                   ▀███████▌
    ████████       ███████                   ███████▌
   ████████▄▄▄▄▄▄▄  ███████▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄████████
  █████████████████  ██████████████████████████████
 ███████████████████  ███████████████████████████▀
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀  ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀

█ █
█ █
█ █

█ █
█ █
█ █




                 ▄████▄▄    ▄
██             ████████████▀
████▄         █████████████▀
▀████████▄▄   █████████████
▄▄█████████████████████████
██████████████████████████
  ▀██████████████████████
   █████████████████████
    ▀█████████████████▀
      ▄█████████████▀
▄▄███████████████▀
   ▀▀▀▀▀▀▀▀▀▀▀





    ███▄             ▄███
   ██████▄█████████▄██████
   ███████████████████████
  █████████████████████████
 ███████████████████████████
 █████▀▀             ▀▀█████
▐████   ▄██▄     ▄██▄   ████▌
 ███▌   ████     ████   ▐███
  ▀██▄   ▀▀       ▀▀   ▄██▀
    ▀███▄▄▄▄▄▄▄▄▄▄▄▄▄███▀
       ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀





                      ▄▄████
                ▄▄▄████████▌
          ▄▄▄███████▀▄█████
     ▄▄█████████▀▀ ▄██████▌
▄▄███████████▀  ▄█████████
 ▀▀▀█████▀    ▄██████████▌
       ██   █████████████
        █▄ █████████████▌
        ▐█▄███▀▀████████
         ███▀    ▀▀████▌
                    ▀▀█





▄                ▄▄
████▄▄          ██████▄▄
████████▌     ▄███████████
████████▌█   ████████████▄
████████▌██▄▀██████████▀▄█
████████▌████▀████████ ███
████████▌█████▄█████▀▄████
████████▌ ▀▀███▄▀██▀██████
████████▌      ▀▀  ███████
  ▀█████▌          ▀▀█████
      ▀▀▌              ▀▀█
Oulay
Member
**
Offline Offline

Activity: 67


View Profile
November 28, 2017, 05:18:42 PM
 #9

It's a software limit. It can be changed but they won't change it.

Gaming and Anime :3
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!