Creating more bitcoin

[konfuzius5278]

Is there anything to stop the core devs saying we want unlimited bitcoin and changing the code to allow it.  I mean, 21 million isn't much. 

This cannot be changed by the developers.
If a decision like that will be heard we will possible have a hard fork and two separate chains.
And also 21m isn't much but this is said to be the main advantage of Bitcoin. Scarcity is a good thing for the cryptocurrency industry.

Of course it can be changed by DEV. The coding team wants it for any reason to make more BTC, the miner support new wallet. et voila 10x more max bitcoin.

The community has nothing to decide in Bitcoin, as far as the big mining pools and DEV agree.

Do you know who do you mean with name of dev? So far i know, They can not change the maximum supply of bitcoin i.e 21.000.000 virtual coins. Dev only do developing chains of bitcoin (blockchain), halving, etc.

As you can see in all Altcoins, the maximum supply is only a number in code, just mentioned in one of the .cpp files.
Change it, compile new, voila 10000000000000000000 bitcoin max supply. Then you get a fork of course. But as I say, for any reason support by miners will change it.

[1714154676]

1714154676

[K21000]

I think bitcoin in the long run should adopt something similar to what peercoin has. That is have infinite coin supply but low inflation. So after 21 million coins BTC can inflate but at most only ~210,000 coins per year can be created. If something like this were to be implemented it would take BTC 100 years to double its coin supply from 21 million to 42 million.

[Artemis3]

The code says 21 million, and 21 million will be. Even if some developers propose a change, it won't necessarily get adopted, simply because the nodes and miners won't like it. Stop with this nonsense already and learn how an economy thrives under deflation, you need to read the Austrian school of economics and start implementing their ideas. No other school gets it, specially not Chicago which is the currently implemented.

We will move from a quick but crash debt economy into a slow but steady savings economy, end fractional reserve banking, etc.

[butcherme]

Creating more bitcoin will disturb the demand to supply availability. When there is something unlimited surely the demand will diminish with time. As of now the market having limited supply, and the same is the key factor for bitcoin to have such an increased market price. Some has been continuously suggesting on bitcoin unlimited which isn't gonna get into reality.

I agree and I don't really think that it needs more than 21 Million.
1Bitcoin could be divided into Sats and it is enough for all of us  there is no need to change the max supply.

[atjiat]

Definitely almost all users of cryptocurrency and Bitcoin owners will oppose the increase in the number of Bitcoin.  We already today with difficulty expect an increase in the price of bitcoin, and if we increase the amount of bitcoin, then its price will decrease significantly.  And in general, I don’t understand why such desires appear, just to have Bitcoin in my wallet, even though its price will be very low.

[konfuzius5278]

All argues get that way,  there is no good reason to do.

I just argue its possible. And thats the truth. And only the future will tell if done or not

[TimeBits]

As soon as an unlimited number of bitcoins.  He will immediately depreciate.  Because it will be at all.  This does not happen in nature a lot and expensive.  The whole point is that it was a limited amount.

What do you mean, wood keeps coming in because we keep planting more trees, same with food(fruit,veggies,poultry,meat,fish), same with gold we just found a asteroid made out of it and are still finding more in nature on earth.

Limited Supply = Death as medium of exchange brother https://www.youtube.com/watch?v=Y7TLFyK_3Pk

Now if you have a limited supply that can be traded by a (unlimited supply but also limited aka time/duration aka fair distribution), you have a savings supply, and spending supply. Think bitcoin as a antique and retirement pension, savings account that accumulates interest not at the debt of anyone but by more people wanting to save. Think time/duration as the medium of exchange, spending account, that does not gain in value and 1 hour always = 1 hour, but 1 bitcoin can = 200 hours or 500000 hours in the future.

[ololajulo]

You got lots to read for this topic. I dont think it worth reconsideration, things are now changing with some token, demanding burning for better token economics. I like the limitation anyway

[Janation]

Is there anything to stop the core devs saying we want unlimited bitcoin and changing the code to allow it.  I mean, 21 million isn't much. 

Maybe you try to hack the system.

In the past Bitcoin was hacked and the hackers, maybe hacker made a lot of Bitcoins. It is not done again but we all know that it is hard since that years and no one had been able to hack again is a proof it is hard. 21 million is enough, though not accurately 21 since there are a lot of of them lost in the void and some forgotten.

[marcbitcoins]

Current Bitcoin supply is already enough for now therefore proposing a volume increase is not yet needed and also dangerous as it might affected greatly the present market price rotation. Maybe we will request for the supply increase if Bitcoin will be use in the whole world as the major currency for spending like the US Dollar.

[Vishnu.Reang]

For that to happen, consensus is going to be needed. The developers can't simply just change the number then boom we have a billion bitcoins. If they could simply do that just by changing values in the code, then bitcoin is fucked.

Not to mention that a hardfork is going to be needed to achieve this, so it's extremely unlikely.

There is no point in doing this, as it is not going to benefit anyone. As the total supply increases, the exchange rates may nosedive and all of us would incur losses. Any gains from this step will be visible only after many years, and that too will be restricted to the miners. Apart from the immediate negatives, long-term damage may also be significant, such as loss of reputation.

[Krislaw]

Is there anything to stop the core devs saying we want unlimited bitcoin and changing the code to allow it.  I mean, 21 million isn't much. 

who developer?,
they can't change made by satoshi over year ago. they can only chane by forking as bitcoin and make new coin like people did.
they can do anything when fork and make new bitcoin

[Crypto Girl]

Is there anything to stop the core devs saying we want unlimited bitcoin and changing the code to allow it.  I mean, 21 million isn't much. 

And why you want it? Perhaps you don't fully understand what made bitcoin, bitcoin.

There is a lot of factors that many of us go crazy with bitcoin and one of these is the limited supply that leads to it being scarce. And I think everyone had already explained some factors and don't need to explain further.

Maybe you try to hack the system.

In the past Bitcoin was hacked and the hackers, maybe hacker made a lot of Bitcoins. It is not done again but we all know that it is hard since that years and no one had been able to hack again is a proof it is hard. 21 million is enough, though not accurately 21 since there are a lot of of them lost in the void and some forgotten.

Can you support it? Seriously I just heard it like hackers hack the system and create more bitcoin, really? And even there is some bitcoin that is unrecoverable because of lost private keys, these are still belong in the 21 million supply.

[pixie85]

Why would anyone support this idea of diluting existing bitcoins and making them worth less? Ift would be showing all the holders your middle finger.

Bitcoin is not run like a company where a ceo and the board agree to do something and it happens. We all signed up for 21 million when we bought bitcoins and we won't support changes.

[Lauren Smith]

Is there anything to stop the core devs saying we want unlimited bitcoin and changing the code to allow it.  I mean, 21 million isn't much. 

You a Sr and making posts like this? -_-

The number of coins doesn't matter. Morecoins = More divisions thus less price Lesscoins = Less decisions thus higher price.

You know how a pizza is cut? Then you know why your questions is ridiculous.

1 Pizza is still 1 pizza no matter how many times you cut it.

[fiulpro]

Is there anything to stop the core devs saying we want unlimited bitcoin and changing the code to allow it.  I mean, 21 million isn't much. 

There isn't any thing the developers can't do.
At the end of the day it is just a piece of software and at the same time it isn't.
I do think that , the developers won't do that , since they most likely will kill the very idea if bitcoins themselves.
It was created as such , when it is stagnant then people won't be able to buy new bitcoins denying the inflation , the price will sky rocket , for people who are holding will actually be Happy.
I think this whole period bitcoins is in , is a growth one right now , when the supply stops it might be able to just achieve a price that is more or less stable and not even low.
I hope they don't .

[Msworld83]

Nothing will change the supply and the supply is OK for the community as that will create scarcity which will gives a huge amount to every btc we have in future but regard the increment I dont think that is nice and would be possible even the supply will be minu at the end of mining the whole btc as regard the mistake that took place during the first set of blocks.

[xiboothrezi]

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You a Sr and making posts like this? -_-

The number of coins doesn't matter. Morecoins = More divisions thus less price Lesscoins = Less decisions thus higher price.

You know how a pizza is cut? Then you know why your questions is ridiculous.

1 Pizza is still 1 pizza no matter how many times you cut it.

And I can only laugh. Your analogy is very easy to understand.

Let's give a little explanation. Aren't rare items costing more? that is what will happen when bitcoin is getting harder to mine, demand is getting higher and supply is limited. This is what causes the price of bitcoin to experience a promising increase. So I think adding the number of bitcoins is very unlikely, and not a pretty good strategy

[Moiyah]

There's no need to produce more or produce unlimited bitcoin. That will not disregard it's characteristic as being a special because of the reason that it only has limited supply. The availability will affect the bitcoin's price if that will gonna happen . And we can't change how it is created as 21million bitcoin only. There is a reason why Satoshi made that number.

[thirdprize]

~~

You a Sr and making posts like this? -_-

The number of coins doesn't matter. Morecoins = More divisions thus less price Lesscoins = Less decisions thus higher price.

You know how a pizza is cut? Then you know why your questions is ridiculous.

1 Pizza is still 1 pizza no matter how many times you cut it.

And I can only laugh. Your analogy is very easy to understand.

Let's give a little explanation. Aren't rare items costing more? that is what will happen when bitcoin is getting harder to mine, demand is getting higher and supply is limited. This is what causes the price of bitcoin to experience a promising increase. So I think adding the number of bitcoins is very unlikely, and not a pretty good strategy

Yes, but i believe the decimal places are hardcoded in the BTC.  It would be a hard fork to increase it.  Now, you can only slice your pizza to 8 decimal places giving 2,100,000,000,000,000 slices.  There is $1,655,000,000,000 in circulation.