Is the 21M BTC supply promise realistic?

[carlisle1]

sorry the question seems to be very complicated to understand but i will answer upon how i get the idea.
Bitcoin maybe lost in the air as i have did this in past when i sent in wrong address but that is commonly happens.
what you are pointing if time comes that all of the 21million bitcoin lost like that right?or some of them are owned by death person that no one knows the key of their wallets.
exaggerating obviously but even there is only 1 bitcoin remains still it can be divided into how many Satoshi?meaning there are  still in circulation.

~

I think you're mistaking 1 BTC for 1 satoshi. Do you also think $1 is $100 because the lowest denomination is 0.01? The fact that a Bitcoin can be split into 100 million different pieces doesn't make its supply endless.

that is what we are all pointing because it is impossible for Bitcoin to  just vanished like that.

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[meanwords]

The 21M BTC supply is realistic but the scenario you are saying is not. There's no way that every piece of Bitcoin would be lost forever even in 100000 years. You are right about Bitcoin getting lost but as time goes by, it is getting lesser and lesser. Let's just say in 100000 years it did got lost, the last Satoshi got mishandled and got lost in an unknown wallet, then something will replace Bitcoin and that's reality. Now let's just say that 1M that Satoshi is hiding got distributed somehow to the public, then that's another thousands of years of supply of Bitcoin because we can just move denominator and use Satoshi instead and by that time I think, there's already a huge technological advancement to the point where there's already a better option.

[iamsheikhadil]

Well it's realistic because it's based on math afterall, people lose access to wallet and they used to do it more in the early days but nowadays no one would just lose access to it as it's like burning cash and if people wanna burn their cash, the supply would still be the same and more importantly it would create further demand for the coin.

[stompix]

In your argument above  , you confused the assigned value of a bitcoin verses fiat with it's numerical supply.

21 million bitcoin at the lowest denomination of 1 bitcoin = 21 million bitcoin supply
21 million bitcoin at the lowest denomination of .25 bitcoin = 84 million bitcoin supply
21 million bitcoin at the lowest denomination of .00000001 bitcoin = 2.1 quadrillion bitcoin supply

The one confused is you
By your logic
190 040 at 1 ton = 190 040 tonnes
190 040 at one kilo = 190 040 000  tonnes
190 040 at one gram = 190 040 000 000 tonnes

Notice every time the denomination goes farther to the right, the total numerical supply for trading increases.  

Then you should start eating one molecule of caviar a day, one gram it will last your till Andromeda rams the MilkyWay

While you are bragging on bitcoin ~25% increase since Jan 2020,

Yeah, yeah, it hurts right? Have  one 1/10000000 of a cookie

[stompix]

Notice your references are to items in the Physical world, which is why you are stupid.   

When you start throwing those words it's a clear sign you have no arguments left.
So, have 1/1000 of a cookie.

The Virtual World does not have the same limitations as the Physical World. 

Good, then let's deal with this entirely virtual!!!
Send me 10 BTC I will send you 10 satoshi,  because you claim it's the same thing!

[xvids]

Everyday people lose access to their wallets, send Bitcoins to wrong addresses. It results in Bitcoins being lost forever. In the meantime, there is no way to prevent it.

So, let’s suppose that Bitcoin would exist forever. It means that at some point there won’t be any coin left in the network…

I know there are other implications/discussions about Bitcoin supply. But I’d like to limit this topic to this concern (Bitcoins lost).

Is  the 21M BTC supply promise realistic? 

i do not understand your question, it is not realistic, it is real and immutable fact, so yes that is the final number, which cannot be changed...
if all of us loose their access to respective wallets, there will be few BTC left, but supply will not grow, that is for sure

I also doesn't understand OP's point here but you already explained it well .
No matter how many wallets would be lost forever the maximum supply would always be 21M BTC the lost Bitcoin would still be there but it would lessen the circulating supply.
And we don't have to worry about a thing because 1BTC could still be divided into 100 Million Sats and every Sats have its value.

[sunsilk]

one day miners will be difficult to produce bitcoin because as I know when bitcoin is getting closer to supply then the level of difficulty to break blocks that can produce bitcoin will increase even the result of miners will be drastically reduced, so the supply limit of bitcoin will have an impact on price and life bitcoin in the future.

because when bitcoin becomes more difficult to obtain there are 2 choices, humans can still use bitcoin but with very high transaction costs or humans don't use it anymore because bitcoin prices are too high only that is likely to happen in the future when bitcoin has reached the maximum supply limit .

Seems like you don't know what you're talking about its not that the difficulty of solving blocks changes from halvening, that would be the block rewards, originally when a block was solved it rewarded 50 bitcoin, now that is not the case, the amount is halved each time, the difficulty of solving the block is based on how many people are working on solving the problem, the blocks readjust to try and be solved around 10 minutes each block.

Kingcolex explained well it to you mate, g+.

I also think that he has no idea what he's saying about block rewards and he's only talking about the increase in difficulty. The adjustment of rewards is there and even the price will adjust too because of the cost of mining.

The production let's say that you have understood it as the miners reward will be lessen but the value of it will increase due to several factors that we're talking and one of it is the halving.

[bgaf]

21M supply is same with the current supply even though some of them are lost in the wild. Logically this is a broad discussion.

Nothing ever gets lost. People are even talking that quantum computers will hack bitcoin network and who cares about lost bitcoins, they should be easy to restore.

Its actually lost. How can you say it can be restored if that's easy to retrieved many already try out to recover those who sent on a wrong address. That will defied transparency if this can be work out.

I dont think those wronfully sent will affect its value rather it could boost is demand. Those are still part of circulation that laid waste but still it just dormant.

[garyrowe]

Everyday people lose access to their wallets, send Bitcoins to wrong addresses. It results in Bitcoins being lost forever. In the meantime, there is no way to prevent it.

So, let’s suppose that Bitcoin would exist forever. It means that at some point there won’t be any coin left in the network…

I know there are other implications/discussions about Bitcoin supply. But I’d like to limit this topic to this concern (Bitcoins lost).

Is  the 21M BTC supply promise realistic? 

Even if more persons should misplace their private keys, send their bitcoin to wrong addresses or even pass on without reveling their keys to their loved ones, Bitcoin as far as I aam concerned will continue to exist even if only 1 BTC is left in the world. I based my opinion on the fact that Bitcoin comes with 8 decimals. So if only 1 bitcoin is left in the entire world, it will still be enough to be used for p2p transactions and as a store of value .

[SophieMil996]

Everyday people lose access to their wallets, send Bitcoins to wrong addresses. It results in Bitcoins being lost forever. In the meantime, there is no way to prevent it.

So, let’s suppose that Bitcoin would exist forever. It means that at some point there won’t be any coin left in the network…

I know there are other implications/discussions about Bitcoin supply. But I’d like to limit this topic to this concern (Bitcoins lost).

Is  the 21M BTC supply promise realistic? 

Even if more persons should misplace their private keys, send their bitcoin to wrong addresses or even pass on without reveling their keys to their loved ones, Bitcoin as far as I aam concerned will continue to exist even if only 1 BTC is left in the world. I based my opinion on the fact that Bitcoin comes with 8 decimals. So if only 1 bitcoin is left in the entire world, it will still be enough to be used for p2p transactions and as a store of value .

When there is 1 BTC left, next step is 0.1BTC left, and then 0.01BTC left... But yes, Sun will stop shinning at some point.

[tvplus006]

... Just would like to share Satoshi's great quotation on these, "Lost coins only make everyone else's coins worth slightly more.  Think of it as a donation to everyone."

I agree with Satoshi) Each lost BTC unit only makes this coin more expensive. And we must take a more responsible approach to the safety of our BTC. This also applies to accessing your wallet and sending BTC to the correct addresses, since it will not be possible to return an incorrect transfer.

[meanwords]

-snip

Both of you make sense but I don't want to side.

First, Physical world and Virtual world is different in a way. Let me give you an example.

A 0.00001 Cookie is basically nothing, you wouldn't even be able to tell or see it unless you use a microscope. It won't even be enough to be considered a food for a body but A 0.00001 of Bitcoin might be enough to buy you a house in the future because the use of cookie is to be food and there's a minimum amount that we should consider before it is even considered as such. One molecule of Cavier is the same, it is food.

Bitcoin's use is to transact which as of now, 0.00001 is alright to do that.

Let's set aside value for now and discuss the use of Bitcoin. Technically, 0.0001 Bitcoin have the same purpose as 1 Bitcoin. You can send, receive, sign, and pretty much do everything with it without having to compromise its real purpose. Now let's talk about cookie and cavier. 0.0001 of them won't have the nutritional value or satisfaction of eating it compared to a whole which defeats the purpose of it being food. You see now? Different things have different use and different limitations. Though we can't say that we can use 0.0000000000001 BTC because that is super absurd.

Let me explain even further.
In Khaos77 argument, there's truth to that but there's a limit. 1 Bitcoin now might have the same price as 0.001 Bitcoin in the future but that doesn't mean we could move decimals so much because let us consider the technicalities of Bitcoin. Sending too little will be considered a dust for example. Dust is a miniscule amount of Bitcoin that miners won't even consider taking which results into transfer not getting confirmed, unless you use LN or built your own mining farm for that purpose which is unrealistic for now (maybe in the future when Bitcoin is $1,000,000,000?) then we have to consider the mining fees and such.

Though we can move denominator in the future due to price influx, moving it too much will have some problems. But let's be open and consider the future.

We have to consider that Bitcoin's price is getting higher. I don't know, maybe in the future we start using Satoshi instead of Bitcoin because of price? Only time will tell. Bitcoin can change.

[Mpamaegbu]

No, it isn't possible to have the 21million total supply in circulation. I wrote on this sometime last year and I included those whales who might have died and their families don't have access to their largess. Whatever happens to Satoshi's share, even? In life's principle nothing leaves whole and comes back whole after a while.