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Author Topic: If the price of bitcoin increases  (Read 1212 times)
lemplong (OP)
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May 29, 2020, 12:57:35 AM
 #1

After I read from a number of trusted sources and it turns out I get information, if the total number of bitcoins in circulation is 21,000,000. but if demand continues to increase, this number will be added again.

and the My question is very simple ...

Who will increase the amount of bitcoin, if then the demand increases ??
Did they Is make this bitcoin, actually ??
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May 29, 2020, 01:15:17 AM
 #2

The Bitcoin supply is fixed; there are no plans to increase the supply.

Market cap is fixed and there's no way that people would be supporting an increase of the market cap. Doing so would just dilute the current Bitcoin and increase inflation. The fixed inflation is a core feature of Bitcoin and it is unlikely to change. Even with changing demand, a Bitcoin would be worth more and people can buy a fraction of a Bitcoin instead of the full Bitcoin. If Bitcoin ever gets too expensive, we'll probably be able to do a fork to introduce more denominations.

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May 29, 2020, 02:12:14 AM
 #3

Which trusted source you are talking? I assume the sources either have no knowledge on bitcoin or they are one of haters of bitcoin. The supply of 21m is fixed and there's no way it will be changed. Even if someone want to increase the supply, no one will support that. They may get another chain and become just another piece of shit bitcoin fork.

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May 29, 2020, 02:40:57 AM
 #4

The 21 million number isn't the total number of bitcoin in circulation; it's the maximum supply cap. It's either you misunderstood the articles you've read, or you've read crappy articles. Mind linking them here?

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May 29, 2020, 03:06:14 AM
 #5



There would only be 21 million Bitcoin to exist in the network and some of them are still had to be mined. Of course, some of these Bitcoin can be lost already and so the circulating supply can be lower than that fixed figure. Now, what will happen if the demand for Bitcoin can surge (maybe assuming that it is going to be used heavily in international or eCommerce transactions just like USD)? The simple answer is that the price can go skyrocket so that it will just be taking a small fraction of a Bitcoin for us to buy goods and services.
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May 29, 2020, 04:06:21 AM
 #6

After I read from a number of trusted sources and it turns out I get information, if the total number of bitcoins in circulation is 21,000,000. but if demand continues to increase, this number will be added again.

and the My question is very simple ...

Who will increase the amount of bitcoin, if then the demand increases ??
Did they Is make this bitcoin, actually ??

When the total amount of Bitcoin mined and it's all circulating in the market, the only way to increase the price is the demand on the market. If it increased then the price will rise if it decreased the price will also fall and so on so forth. What matters after that is when it's all mined, it should be more adopted by most of the countries in the world or most of the biggest companies out there. We cannot say anything about what will happen in the next 100 years, if the popularity continue to increase till then, the price will likely become like what most investors have speculated.

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May 29, 2020, 04:14:49 AM
 #7

After I read from a number of trusted sources and it turns out I get information, if the total number of bitcoins in circulation is 21,000,000. but if demand continues to increase, this number will be added again.

you have already read a numbers of trusted sources(even without sharing a singe one here) yet you still believe that 21 million is the circulating supply?lol there are still numbers of Bitcoin that still under mining and there are also many numbers that lost in the air as the private keys already forgotten and from those people that dies without sharing their wallets.

and the My question is very simple ...

Who will increase the amount of bitcoin, if then the demand increases ??
Did they Is make this bitcoin, actually ??

what?do you understand your question?

sorry but please clear the question because there is no clarity here.


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May 29, 2020, 05:23:27 AM
 #8

here is how bitcoin works!
when bitcoin was created, there was no "circulating supply", it was zero. then miners started doing a certain "work" which resulted in finding new blocks. every time a miner successfully finds a new block, they are rewarded by "new coins". in other words the new block they find is creating those new coins. from the very first block until block #210000 this reward was 50 bitcoins, from #210001 to #420000 it was 25 and it is cut in half in the same way every 210k blocks (12.5 > 6.25 > 3.125 > 1.5625 > ...). it will continue until it reaches zero by which time the total number of coins in circulation can not be any bigger than 21 million due to simple math. which is why we say the supply cap is 21 million.
these new coins are then entering "circulation".

so far about 632k blocks are found and 18 million bitcoins are in circulation.

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May 29, 2020, 06:01:16 AM
 #9

After I read from a number of trusted sources and it turns out I get information, if the total number of bitcoins in circulation is 21,000,000. but if demand continues to increase, this number will be added again.

and the My question is very simple ...

Who will increase the amount of bitcoin, if then the demand increases ??
Did they Is make this bitcoin, actually ??

You probably read some articles or conversations that speculated that in the future Bitcoin's cap might be increased if the community will decide that it's needed. There is some truth to it, because technically it can happen, but right now we have absolutely no idea if it will happen or not. So far no one is seriously talking about increasing the cap or making Bitcoin inflationary. And such chain would create a network split known as a fork, so if not everyone is onboard, then there would be multiple competing versions of Bitcoin.
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May 29, 2020, 06:14:21 AM
 #10

"very" trusted sources I suppose. Throw them away, since your "trusted" source doesn't even know about the basic principle behind the code oof BTC. Simply answering your question, it can't and it won't. No one is basically capable of adding coins in circulation or in the unmined supply as of yet, and even if demand increases to the point that each BTC is worth a million dollars or even higher, the supply still would not increase. And no, even the creator of BTC wouldn't be able to just change the source code behind BTC and would not be able to increase the BTC supply. If you really want to see bigger numbers, just count BTC in satoshi.

 
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May 29, 2020, 07:02:45 AM
 #11

Did you got your info from Goldman Sachs? ;-)  Sorry, but the cap is integrated into the source code of Bitcoin so it´s impossible to increase it´s number.

You should also keep in mind, there is a huge demand of Bitcoins on the OTC market, that means people buy coins with them every seeing an order book. That way the price stays the same but will become highly volatile as soon as those coins hit the market on an offcial public exchange. You may hear about the decrease of Bitcoins on exchanges. this is the reason.

Investment company Greyscale currently goes nuts on buying BTC - https://cointelegraph.com/news/grayscale-is-now-buying-15-times-the-amount-of-bitcoin-being-mined 

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May 29, 2020, 08:58:45 AM
 #12

Bitcoin's total supply is fixed and will stay fixed forever. There will be only 21 million bitcoins in the world and say many businessmen said, soon, having one bitcoin will be a great with for everyone in the world. Actually this is one reason why the price increases during the time.
Because of lack of supply and too much demand and according to the supply and demand theory. If demand increases people should pay more USD/Fiat to buy bitcoins. Simple rule.

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May 29, 2020, 09:21:09 AM
 #13

Sorry, but the cap is integrated into the source code of Bitcoin so it´s impossible to increase it´s number.

it is not impossible to change the bitcoin supply cap and it has nothing to do with the code.
however, it won't change only because it is one of the main principles of bitcoin and everyone using bitcoin wants it that way so it will not change.

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May 29, 2020, 12:06:56 PM
 #14

The demand for Bitcoin is constantly increasing. At present almost all countries of the world are aware of Bitcoin. Day by day people are leaning towards online income. Many online sites are using Bitcoin as their payment system. Gradually the whole world will learn more about Bitcoin. I don't know if your data is accurate, but the demand for Bitcoin will continue to grow.
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May 29, 2020, 01:25:33 PM
 #15

When the max supply of 21,000,000 is reached, there's no way these numbers are all present in the circulation considering there's a lot of Bitcoin that has been lost and cannot be recovered, stucked in a forgotten wallet.
Also, when the supply is at max cap, the demand would most likely to increase as we're going to experience a scarcity of supply, and every fraction of Bitcoin costs multiple times more than the price today.

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May 29, 2020, 02:14:50 PM
 #16

If the max supply changes with no changes in other things or changes in other, that would not be anymore bitcoin, that will another shitcoin which we have a lot at this moment. People used to believe BTC as the store of value because it's not unlimited.
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May 29, 2020, 02:22:35 PM
 #17

Who's your trusted source? you should check the information that person told you because it's completely wrong. The current supply of bitcoin in circulation isn't 21M but it's the fixed supply to be mined until (est.) 2140. The bitcoin in circulation[1] is around 18.4M and that's in the current time, we don't know how many of those bitcoins are no longer accessible because of the people who lost their wallet.dat and private keys.

[1] https://www.buybitcoinworldwide.com/how-many-bitcoins-are-there/

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May 29, 2020, 02:50:40 PM
 #18

I think OP need to learn bit more, you have lack of knowledge about bitcoin. No one able to create new bitcoin more than 21 million. This supply has been fixed when code was deployed on the blockchain and the total supply will mine completely on 2140. More bitcoin circulation adding continuously by mining reward and it will increase up to 21 million only, when it will reached 21 million then mining reward will stopped. According to CMC circulating supply is 18,388,656BTC and you will noticed there 21 million maximum supply. Just keep in mind there will no more supply will add than 21 million. If satoshi want to add more than whole blockchain should replace by fork. Means the blockchain will be totally different than current bitcoin blockchain which isn't possible either.

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May 29, 2020, 04:52:07 PM
 #19

After I read from a number of trusted sources and it turns out I get information, if the total number of bitcoins in circulation is 21,000,000. but if demand continues to increase, this number will be added again.

and the My question is very simple ...

Who will increase the amount of bitcoin, if then the demand increases ??
Did they Is make this bitcoin, actually ??
Bud, I think you should read the bitcoin whitepaper first before you post any question on this forum.
The supply of bitcoin is fixed and nobody has the right to increase the supply.
Nobody has the control over it and most importantly nobody will ever support an increase in supply of bitcoins since it will create a chaos.
Bitcoin is known for it's anti-inflationary and limited supply. Increase it's supply would just destroy it's cause.

So just an advice, please read about what bitcoin is and also use the search functionality of this forum before you post any questions.

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May 29, 2020, 04:54:11 PM
 #20

I'm too doubtful of your account OP, then I checked your profile and noticed that you only came here to this forum for the social media campaigns. I've seen your post stuffs, almost all of them are only weekly update social media report on a campaign and Application forms, lots of application form. It seems like you're not here really for bitcoin, with so much activity on your account, you could've have learned if not everything, the basic ones to understand what is bitcoin and its environment. You could've not ask silly question like this, you could've just searched it and understand it to yourself. Obviously, you lacked of knowledge about bitcoin. This forum is progressive enough not to answer question like this IMO.

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