Bitcoin limit supply

[kudosinitchi]

It says that there will only ever be 21 million Bitcoin and the current BTC supply is almost at 19,094,150. What happens when its limit reached? will BTC price goes up instantly due to scarcity? is it the doom for Bitcoin since there is no room to mine? or maybe it will likely never reach 21 million?

[1715437983]

1715437983

[Apocollapse]

This is the Satoshi's answer regarding your question

I'm sure that in 20 years there will either be very large transaction volume or no volume.

Well we can't predict how much Bitcoin would be if almost of Bitcoin has been already mined, but we can pretty sure Bitcoin price either so low since many people lose interest due to high fees (we don't know how much the fees in the future) or Bitcoin price would be very high since many people really interested and scarce.

or maybe it will likely never reach 21 million?

Correct, Bitcoin supply will never reach 21 million, but it's almost closest to 21 million on 2140

[mk4]

Supply(which is capped at 21m) is just one thing, now it will completely depend on demand. Even if a certain asset was sharply decreasing in supply, if there's not much buying, price will still go down (or at least just not go up, but sideways).

https://www.investopedia.com/terms/l/law-of-supply-demand.asp

[dragonvslinux]

It says that there will only ever be 21 million Bitcoin and the current BTC supply is almost at 19,094,150. What happens when its limit reached? will BTC price goes up instantly due to scarcity?

90% of all BTC has already been mined, so it's far to say the scarcity is already at 90%. The difference between only 10% left available, and 0%, isn't really that much. Roughly +11% scarcity being the difference.

is it the doom for Bitcoin since there is no room to mine? or maybe it will likely never reach 21 million?

It'll reach 21 million in 2140 (give or take), so not for a long time still. Miners will still be incentivised to mine as it will still be for transaction fees, even if no new Bitcoins. Generally given the distribution of new Bitcoin halves every 4 years (hence halving), then the effect of no new Bitcoins to mine won't be felt that much at all, but gradually over the next 118 years.

At some point before then miners will be receiving more income from transaction fees than newly mined Bitcoin anyway, so it's designed as a gradual transition process.

[TheNineClub]

It says that there will only ever be 21 million Bitcoin and the current BTC supply is almost at 19,094,150. What happens when its limit reached? will BTC price goes up instantly due to scarcity? is it the doom for Bitcoin since there is no room to mine? or maybe it will likely never reach 21 million?

It will probably never reach it as scarcity is not the only factor why people invest. Utility is a big factor and if BTC loses it's use factor to other coins, it might fall out of favor. That's not a bad thing nor is it something unexpected, but as it get's replaced, people might loose interest.

[|MINER|]

What happens when its limit reached? will BTC price goes up instantly due to scarcity? is it the doom for Bitcoin since there is no room to mine? or maybe it will likely never reach 21 million?

In the world of cryptocurrency, nothing can be said with certainty, but the idea is that the price of bitcoin will rise when the total supply mining is over. Even then I also think that the volatility of Bitcoin prices will always be there, as it depends entirely on the trading. I do not want to confirm anything because it is not possible to tell the future of anything.

[Yogee]

We're free to speculate but we'll never really know since none of us wil be alive for another century. We can't even say if there will be a superior tech that would replace blockchain or if Bitcoin will still be alive. What I'm sure of is that future trader or investors can't use the four year-halving cycle as basis for price speculation when the last bitcoin is mined hehe.

[Eternad]

It says that there will only ever be 21 million Bitcoin and the current BTC supply is almost at 19,094,150. What happens when its limit reached? will BTC price goes up instantly due to scarcity? is it the doom for Bitcoin since there is no room to mine? or maybe it will likely never reach 21 million?

Mining the last satoshi might not happened because the difficulty might be set to very hard at that time while the price is still the same. It will be unprofitable for miners to mine that last satoshi if they will consume too much power just too mine a few satoshi but this will be a different story if the price of Bitcoin grow astronomically which no one can predict because there’s too many factor to be considered to come up to the estimated amount in the future.

It’s much better to hold any amount of Bitcoin in the future to make sure you will not miss out whatever gonna happened. We are just enter on the exciting part.

[tranthidung]

Proof of Work so mining and reward for miners from transaction fee will be what you will see on Bitcoin network after all Bitcoin in total supply releases.

• How is the 21 Million Bitcoin Cap Defined and Enforced?
• Controlled supply
• Equivalent network time (another way to present the Controlled supply)
• It is with an assumption that Bitcoin won't die. If it won't die, its price will be much higher than now and income from transaction fee will be good enough for miners.

[kudosinitchi]

Proof of Work so mining and reward for miners from transaction fee will be what you will see on Bitcoin network after all Bitcoin in total supply releases.

• How is the 21 Million Bitcoin Cap Defined and Enforced?
• Controlled supply
• Equivalent network time (another way to present the Controlled supply)
• It is with an assumption that Bitcoin won't die. If it won't die, its price will be much higher than now and income from transaction fee will be good enough for miners.

thanks for the links i'll give time to read this.

[fuguebtc]

The price of bitcoins is not determined by the supply of bitcoins, supply is only part of those factors. It is determined by the technology behind bitcoin, and by the benefits it offers to us.

Currently, we have mined 19 million bitcoins and only 2 million bitcoins left unmined, but to mine all 21 million bitcoins we will have to 2140. That means we have 120 years left before we can mine all the bitcoin, I think that's pretty far away.

[dragonvslinux]

It says that there will only ever be 21 million Bitcoin and the current BTC supply is almost at 19,094,150. What happens when its limit reached? will BTC price goes up instantly due to scarcity? is it the doom for Bitcoin since there is no room to mine? or maybe it will likely never reach 21 million?

Mining the last satoshi might not happened because the difficulty might be set to very hard at that time while the price is still the same.

It'd eventually happen, regardless of the difficulty, as if the difficulty is too high then the hash rate will decline and therefore reduce the difficulty as a consequence. What you're suggesting, the idea that the last satoshi might not be mined, is suggesting that the blockchain will be halted, as there is no way it can continue without miners being rewarded the final rewards.

It will be unprofitable for miners to mine that last satoshi if they will consume too much power just too mine a few satoshi but this will be a different story if the price of Bitcoin grow astronomically which no one can predict because there’s too many factor to be considered to come up to the estimated amount in the future.

I don't see a case where miners are mining for only a few satoshis, as there will still be the transaction fees which will be higher than the last remaining satoshis.

[franky1]

Supply(which is capped at 21m) is just one thing, now it will completely depend on demand. Even if a certain asset was sharply decreasing in supply, if there's not much buying, price will still go down (or at least just not go up, but sideways).

https://www.investopedia.com/terms/l/law-of-supply-demand.asp

NOPE
it doesnt work like that in crypto..

firstly
there are 19m btc right now.. but exchanges only have deposits of ~1m btc
and the active order books have less then that..
there is no connection to 'coins in circulation(network) vs market price
those that hoard away from exchanges dont ever trade so they dont touch the price thus dont affect the price.
markets only move via the coins deposited in exchanges and currently on ACTIVE order lines


..
secondly
as for the demand
if you look at the market changes over the last 10 years.. the average minnow order is about $400-$600. same then as it is now

what has changed is that the buyers get less coin for their fiat.

yep. even if there was less coin. or more coin deposited in an exchange. . deflation still wins out

yep in 2012 there were only 10.5m coins in circulation(network)
in 2022 there are 19m coins in circulation(network)
so normal investopia 'supply and demand' would say there is more supply.. meaning 2022 should be lower then 2012

but thats where crypto trading differs..

sellers seeing buyer only wanting to spend $400 dont then throw whole bitcoin at them as thats all a buyer is offering. instead a seller gives them a smaller portion(decimal) of crypto for their small fiat offer

its why in 2012 MTGox had orderlines of 1btc-1000btc
and why now its more like 0.0002btc-2btc

[ImThour]

It will never reach 21 million as we will not be surviving until 2140, which is the expected time period for the total supply to be mined.
And thus, the price will continue to rise up every 4 years due to a phenomenon called Bitcoin Halving.

So, you personally don't need to worry about the bitcoin supply limit. It's far much better and more sophisticated than other coins in the market as of now.

[BlackHatCoiner]

What happens when its limit reached?

When all the bitcoins are mined, which will happen in about 118 years, the miners' income will come solely from transaction fees.

will BTC price goes up instantly due to scarcity?

It can't go up instantly, because:

• Coins are brought into circulation gradually.
• Demand is another factor, irrelevant of supply, which affects the price.

is it the doom for Bitcoin since there is no room to mine?

As said, the main income will sooner or later come from transaction fees. This will happen much sooner than 2140.

or maybe it will likely never reach 21 million?

Who knows what can happen within the next 118 years.

[Ucy]

It will ofcourse go up as it becomes scarce due to high demand which is expected to be based on its usefulness. And it will only become more divisible if it becomes too scarce to reach more people... which will probably mean having more units that are lesser than sat like you possibly have units that are lesser than cent or penny. Bitcoin really may not reach the supply limit assuming the limit remains unchanged, or Bitcoin does nolonger exists or is nolonger in use

[kudosinitchi]

Judging from your replies, reaching BTC supply will really tend to take for a century or maybe not will likely reach its upper limit. But, since we can not guarantee if Bitcoin will still be the top crypto in that given year, maybe there will be another superior coin that will emerge in replace for BTC.

Moreover, in 19million BTC existing right now, is there some portion of it that is burned? it was reported then this so called "lost coins" when owners that holds BTC in there wallet forget its private key, can we assume that the BTC is burned and will likely lessen BTC circulating supply?

[The Cryptovator]

No one can predict what will happen when the last Bitcoin will be mined. We can take lessons only from past history. A lot of threads have been created with the same subject, just use the search button. Look at the past where was Bitcoin and where is now. So you can assume something when it will be mined last Bitcoin. There is no way to stop supply before it reached 21M.

[fiulpro]

The scarcity would not be a contributing factor in bringing the price up but rather it would make the investors search for new cryptocurrencies which have unlimited potential the reason I think it might not happen is because at the end of the day the developers can decide otherwise and decide to have unlimited supply to curb the inflation. I do think that having a limit on the supply does help big time since :
1. Less environmental concerns
2. Old investors do get profits while we all can still trade in satoshi
3. Unlimited potential
Demand and supply Rule would ofcourse work on full speed but how the market reacts and how the whales takes their money out and make the whole market crash at a might higher rate is something else.

[Fivestar4everMVP]

When Bitcoin can no longer be mined because all 21 million coins have been mined, first, I believe Bitcoins that will be in circulation won't be up to 21 million coins when we consider the hundreds of thousands of Bitcoin that it's owners have lost access to, so this I believe makes Bitcoin even more scarce, and since there will be no other way to get Bitcoins except by buying them, I believe price will skyrocket, but it all depends on the demand though, and how good the network is by the time, if after mining ends, and transaction fees skyrocket, then I believe this will be a major issue for many most especially the small investors, but i still believe this is unlikely to happen, but let's see what happens then.

[Piesel]

There are millions of Satoshi in one Bitcoin and are in bits so even if the total 21 million Bitcoinhase been mined, the total buts will only increase in price which gives Bitcoin an infinite total supply. But you should also understand that Bitcoin, if the demand increase so the scarcity will inflate the price.

[Smartvirus]

Apparently, this is a question that have been asked too many times with regards to OP but, I won't blame you, your new here from the look of it but to avoid creating threads that have been long discussed before, you might want to search it first and then, you can go ahead to create a thread when not found.

Haven't said that, with the supply limit being met doesn't necessarily mean the end of bitcoin. Let's take a page out to gold for example (I know these two @gold @Bitcoin don't go together but for the sake of my illustration, I'll go with it for an analogy). Gold has an estimated supply althogh, discoveries occasionally comes up but let's say that be the case, it hasa definite supply. With gold supply going out, does that means the end for gold? Obviously not. I think the same applies for bitcoin.

We could expect it to loose much of its volatility but definitely, its bound to remain in existence.

[cloudfir3e]

Once the miner has generated all the coins, there will be no more bitcoin to be mined. Additional supply can only occur if the bitcoin protocol changes and allows for a much larger supply. Otherwise, the maximum limit will remain 21 million bitcoin.

For investors, this is great news because bitcoin will become scarce and bitcoin is a highly volatile asset—with extreme price increases and dramatic declines. This will be a great opportunity for potential investors to enter the market and try to invest.

[worle1bm]

The supply which Satoshi set up was only 21 Million bitcoins and it cannot be increased by any means but with time people lost their keys to coins and those coins are out of supply so we can say that there will never be 21 million coins in circulation.

This topic has been discussed many times and we all know the transaction fees will be enough for the miners by then so the security will be maintained and there will be usage if we see from the current time but can't say exactly what will happen in century.

[fauzan Ichsan]

There are millions of Satoshi in one Bitcoin and are in bits so even if the total 21 million Bitcoinhase been mined, the total buts will only increase in price which gives Bitcoin an infinite total supply. But you should also understand that Bitcoin, if the demand increase so the scarcity will inflate the price.

This is where the laws of economics apply. with the increasing scarcity of bitcoins to be traded while demand increases, it will further increase the price, and of course this limited supply I think will only affect the price, and of course crypto currency is not only bitcoin. and of course if developments are in accordance with our vision for the future, then we are very suitable for investing, as many people are doing today.

[pawanjain]

It says that there will only ever be 21 million Bitcoin and the current BTC supply is almost at 19,094,150. What happens when its limit reached? will BTC price goes up instantly due to scarcity? is it the doom for Bitcoin since there is no room to mine? or maybe it will likely never reach 21 million?

According to me, fiat currency is showing it's flaws at regular intervals and that is making more people to believe that an alternate system of payment is needed.
Though bitcoin is not perfect but it still shows how people can actually have a control on their money and literally own their wealth.
Bitcoin is a gateway to an alternate payment method and this is enough reason why I can say that it will continue to exist forever.
People who can afford it will hold it while other alternate currencies would be used for daily payments.
So even after all the bitcoins are mined people will still use it and miners will rely on the mining fees for rewards.

[boyptc]

It says that there will only ever be 21 million Bitcoin and the current BTC supply is almost at 19,094,150. What happens when its limit reached?

Too many discussions already in the forum about reaching the supply limit. You can search for most of those topics through searching at the top right of the search box. Well, but to have it a summary, transactions will still happen and still will be confirmed by the miners.

will BTC price goes up instantly due to scarcity?

That's basically it, applying the law of supply and demand but not instantly.

is it the doom for Bitcoin since there is no room to mine? or maybe it will likely never reach 21 million?

Not doomed, it's unlikely that we'll still be alive when all bitcoins are mined.

[Doan9269]

It says that there will only ever be 21 million Bitcoin and the current BTC supply is almost at 19,094,150. What happens when its limit reached? will BTC price goes up instantly due to scarcity? is it the doom for Bitcoin since there is no room to mine? or maybe it will likely never reach 21 million?

When the whole bitcoin have been mined there's nothing to worry about, the orice and value of bitcoin remains and here miners get their rewards from the incentives of the transaction fees levied on every transaction made, the volatility is neither a threat to waether bitcoin in failing but by then, it will still be maintained as that's what drive the push for buying and selling of bitcoin in the market, the price is likely to go high drastically because the more the adoption the higher it's demand and price will indeed increases as well.

[Jemzx00]

The supply which Satoshi set up was only 21 Million bitcoins and it cannot be increased by any means but with time people lost their keys to coins and those coins are out of supply so we can say that there will never be 21 million coins in circulation.

This topic has been discussed many times and we all know the transaction fees will be enough for the miners by then so the security will be maintained and there will be usage if we see from the current time but can't say exactly what will happen in century.

Once the limit of bitcoin has been reached which is 21 million bitcoin, there will no longer be a bitcoin to be mined however miners will be able to earn through transaction fees. Yes, there won't be a 21 million coins being circulated as a lot of wallets has been forgotten, lost and accessibility issue from it's owners.

The scarcity that it will cause will probably cause various changes as it may cause Bitcoin's price to either go dip or be much more higher than what we have now. Also, since tons of bitcoin has been stored on exchange sites, there's are speculation that it is losing it's decentralization. We will just need to wait for the outcome and how this limit will affect bitcoin once we reach it.

[aylabadia05]

It says that there will only ever be 21 million Bitcoin and the current BTC supply is almost at 19,094,150. What happens when its limit reached? will BTC price goes up instantly due to scarcity? is it the doom for Bitcoin since there is no room to mine? or maybe it will likely never reach 21 million?

As I got from bitcoin.com, the Bitcoin network's inflation rate per year is 1.74 percent and after each halving process, the annual inflation metric will continue to fall.
With the halving process, it can be said that the mining process will run slower.

BTC is last expected to be mined in 2140 or about 118 more years meaning that over the past 13 years since the start of Bitcoin, miners have earned 19 million BTC as already mentioned by Apocollapse.

Correct, Bitcoin supply will never reach 21 million, but it's almost closest to 21 million on 2140

If Bitcoin is scarce, then the price will be very high. So when the current price of Bitcoin is still at the point of $21K and at the price of $18K, don't panic.
Please read the two references below for easy understanding.

Link 1
Link 2

[justdimin]

There are millions of Satoshi in one Bitcoin and are in bits so even if the total 21 million Bitcoinhase been mined, the total buts will only increase in price which gives Bitcoin an infinite total supply. But you should also understand that Bitcoin, if the demand increase so the scarcity will inflate the price.

This is where the laws of economics apply. with the increasing scarcity of bitcoins to be traded while demand increases, it will further increase the price, and of course this limited supply I think will only affect the price, and of course crypto currency is not only bitcoin. and of course if developments are in accordance with our vision for the future, then we are very suitable for investing, as many people are doing today.

It’s not always like that though. I mean for bitcoin it has been like that and it will stay like that for sure, but not everything in life. Sometimes, when there is a product that is debatable to be a valuable thing, and then some hardcore collectionists end up getting most of it, the remainder are not valuable because nobody wants it, and that’s when the price goes down a lot.

Bitcoin is not like that though, it is definitely something we all like, and will continue to like, and that is why it’s one of the best things ever for us. All in all, I have to say that the limited supply of bitcoin makes it the good thing, because printing more and more doesn't work, we have seen that in fiat.

[kryptqnick]

It says that there will only ever be 21 million Bitcoin and the current BTC supply is almost at 19,094,150. What happens when its limit reached? will BTC price goes up instantly due to scarcity? is it the doom for Bitcoin since there is no room to mine? or maybe it will likely never reach 21 million?

We won't be there to witness what happens, but within out lifetimes the vast majority of BTC will be mined, and then only scraps will be left of the long time. I think this transitioning can help to stop caring about mining new coins and focus on confirming transactions and getting transaction fees instead, so I don't think that reaching the cap or getting very close to is will be a big deal. As for what happens next, as others pointed out, it depends on the demand. If something is scarce, it doesn't necessarily mean people will want it. So we don't know what will happen to the price.

[PrimeNumber7]

There are millions of Satoshi in one Bitcoin and are in bits so even if the total 21 million Bitcoinhase been mined, the total buts will only increase in price which gives Bitcoin an infinite total supply. But you should also understand that Bitcoin, if the demand increase so the scarcity will inflate the price.

This is where the laws of economics apply. with the increasing scarcity of bitcoins to be traded while demand increases, it will further increase the price, and of course this limited supply I think will only affect the price, and of course crypto currency is not only bitcoin. and of course if developments are in accordance with our vision for the future, then we are very suitable for investing, as many people are doing today.

This depends on if the price of bitcoin is elastic, or inelastic.

It says that there will only ever be 21 million Bitcoin and the current BTC supply is almost at 19,094,150. What happens when its limit reached? will BTC price goes up instantly due to scarcity? is it the doom for Bitcoin since there is no room to mine? or maybe it will likely never reach 21 million?

Bitcoin is like money, people will always be needing to exchange their coin for goods/services, so there will always be a supply of bitcoin being "sold" for other things.

Once the block subsidy reaches zero, the block reward will be made up entirely of transaction fees. A long time before this happens, the majority of the block reward will be transaction fees, so miners will only be marginally affected.

[AakZaki]

When the whole bitcoin have been mined there's nothing to worry about, the orice and value of bitcoin remains and here miners get their rewards from the incentives of the transaction fees levied on every transaction made, the volatility is neither a threat to waether bitcoin in failing but by then, it will still be maintained as that's what drive the push for buying and selling of bitcoin in the market, the price is likely to go high drastically because the more the adoption the higher it's demand and price will indeed increases as well.

In theory it is like that, I hope that theory will not be broken.  In addition, I hope that confidence in the value of bitcoin will not be lost either. That's why bitcoin becomes valuable. If trust is lost then bitcoin will no longer be valuable.
Indeed, if the demand is increasing and the amount of the remaining goods is reduced, it will cause an increase in prices. It is included in the legal theory of supply deman. Although indeed I still have a little problem with scalability and transaction costs. This results in slower transactions.

[Fundamentals Of]

All three are possibilities. All three could happen. There is no definite prediction as to what will happen if the limit is reached. There is the possibility that the price would rise high because there's no more Bitcoin left to mine. There's also the possibility that the miners would be insufficiently supported by just the transaction fees and they would decide to quit. And there's also the possibility that Bitcoin couldn't even survive up to the point where the last satoshi is mined. All three are open possibilities.

What is sure though is that there will only be 21 million Bitcoin. That alone is worth something. That alone is assurance enough in the face of an unlimited fiat. 

[Michael White]

Eventually the hard cap of the supply of bitcoin will be reached, most of the operation will be carried out in the same way they are done today except for the miners as they won’t be able to mine more bitcoins. They’ll only be able to earn from the transaction which means transaction fees might go up.

[franky1]

Eventually the hard cap of the supply of bitcoin will be reached, most of the operation will be carried out in the same way they are done today except for the miners as they won’t be able to mine more bitcoins. They’ll only be able to earn from the transaction which means transaction fees might go up.

technically, utility, and logically it "should" be that more transactions are allowed to go through. thus more people spend small amounts to equal bigger total block fee's

EG
2000 tx at $1 each($2k total block fee income) -> 2000tx at $2 each ($4k total block fee income)
is the same as
                                                                         5000tx at $0.80 each($4k total block fee income)

bitcoin mining current is 6.25btc a block = $125k
so having a network that is abuse resistant due to cost of block creating being hundreds of thousands.
would require hundreds of thousands of transactions at $1 per tx level..

.. we should not be trying to be stupid and think that in years/decade bitcoin should remain at only 2000 tx where each tx is forced to pay $60 each to have same cost security as this year.

[Thara20]

Bitcoin miners will stop getting block rewards once the total supply in circulation has been reached.When all of bitcoin has been mined, transaction fees will be the only source of income for miners. The absence of new supply will cause bitcoin's price and purchasing power to change. Because Bitcoin is so rare, consumers and investors will find it more appealing.
Also, because arithmetic bit-shift operators within the Bitcoin network adjust mining rewards' decimals to the nearest integer. The total count of Bitcoin that can ever be mined will probably be less than 21 million because this can occur every time a block reward is decreased in half.

[Nicholas Schaefer]

Yes, when the total bitcoins will be mine the transaction cost will definitely increase as it will be only the source of income for the miners at that moment. Though I can’t surely say this as the world is moving very fast wrt the innovations.

[Docnaster]

When Bitcoin can no longer be mined because all 21 million coins have been mined, first, I believe Bitcoins that will be in circulation won't be up to 21 million coins when we consider the hundreds of thousands of Bitcoin that it's owners have lost access to, so this I believe makes Bitcoin even more scarce, and since there will be no other way to get Bitcoins except by buying them, I believe price will skyrocket, but it all depends on the demand though, and how good the network is by the time, if after mining ends, and transaction fees skyrocket, then I believe this will be a major issue for many most especially the small investors, but i still believe this is unlikely to happen, but let's see what happens then.

Currently now that 21 million bitcoin has not been mined, the bitcoin in circulation is less that 21 million.  A huge percentage of bitcoin has been lost irretrievably by people, especially the early adopters who didn't know much about how to save their bitcoin and many of them didn't believe bitcoin will turn out to what it is now, including myself.
What I don't know what will happen is when there is no btc incentive for miners anymore, what the transaction fee will look like.

[Reid]

Yes, when the total bitcoins will be mine the transaction cost will definitely increase as it will be only the source of income for the miners at that moment. Though I can’t surely say this as the world is moving very fast wrt the innovations.

I doubt that. Transaction cost may go cheaper and faster. Many things could happen.
One of them is some miners giving up because they think it will not be profitable anymore. The difficulty level will go lower and each block will be easier to find.
The other thing is new computing powers. We don't know what will be invented at those times since we will be dead before the bitcoin mined is depleted.
We are humans, we will keep on growing. Upgrading.

[Franctoshi]

It says that there will only ever be 21 million Bitcoin and the current BTC supply is almost at 19,094,150
.or maybe it will likely never reach 21 million?

Yes only 21 million, meaning that Bitcoin cannot exceed that number 21 million total supply but Bitcoin moving around (in circulation) can be lesser due to the addresses that people lost their keys.

is it the doom for Bitcoin since there is no room to mine?

No it not a doom, rather high transaction fees might be the case in my opinion since miners do not mine and get rewards any more but via transaction, Secondly I think the demand would be on the increase side as people would realize that no more Bitcoin is left to be mined, therefore people will HODL Bitcoin like a precious Gold and it will become more Scarce than it is right now.
While the early birds (early investors) like you and I will enjoy.

will BTC price goes up instantly due to scarcity?

The Bitcoin price is not going to go up drastically, it's more of a gradual process as the law of Demand and Supply takes place.

What happens when its limit reached?

No one knows until will get there but looking Bitcoin scarcity now that the mining is still in place and when it's certain that no more Bitcoin to be mined, Then that has given you a clue of what might be.

[witcher_sense]

I doubt that. Transaction cost may go cheaper and faster. Many things could happen.

First of all, I wouldn't expect a base layer to be able to handle fast and cheap transactions, because (1) it is seen as a settlement layer like Fedwire, which is also a very slow system used to transfer considerable amounts of money between central banks, and (2), at the same time, bitcoin needs to be slow to sustain decentralization and censorship-resistance through the distribution and increased number of full nodes.

Second of all, the bitcoin block is limited in size and mined roughly every ten minutes. The former implies intense competition between users to get into the closest possible block and, therefore, growing transaction fees. The latter implies that no matter how hard you try and how much you pay, you can't get your transaction to confirm faster than miners can solve the mining puzzle.

Third of all, each node has a configuration setting called minRelayTxFee that specifies what minimum feerate a transaction should have to be included in a node's mempool and propagated to a node's peers. The current default value is set to 1 sat/b, but if all nodes of the network change it, for example, to 2 sat/b, 1 sat/b transactions will rarely get into blocks. Of course, you can convince a miner to accept even a zero-fee transaction or mine it on your own, but most of the time miners will strive to accept only well-paid transactions.

[dlightag]

Bitcoin we not reach the maximum limit supply, and beside bitcoin has all it takes to be number one the cryptocurrency industries, secondly many people have lost their bitcoin through death, war or lost of devices storage of private key, that is the fact, Coinmarketcap (CMC) may announce in the future time bitcoin has reach 21 million, but what we need to know that not all bitcoin wallet that has bitcoin that is functioning, i mean active base on the fact i mention above.   

[tygeade]

First of all, I wouldn't expect a base layer to be able to handle fast and cheap transactions, because (1) it is seen as a settlement layer like Fedwire, which is also a very slow system used to transfer considerable amounts of money between central banks, and (2), at the same time, bitcoin needs to be slow to sustain decentralization and censorship-resistance through the distribution and increased number of full nodes.

Second of all, the bitcoin block is limited in size and mined roughly every ten minutes. The former implies intense competition between users to get into the closest possible block and, therefore, growing transaction fees. The latter implies that no matter how hard you try and how much you pay, you can't get your transaction to confirm faster than miners can solve the mining puzzle.

Changing a whole system that is a trillion dollars worth is not something that would make sense right now. If you were to do something like maybe 6-7 years ago that would make sense but right now its not going to make anything at all, not going to make any sense at all.

This is why I have to say that limit supply is not something that will change. Miners are set for a certain way of working, and having a proof of stake at ETH for example has been something that has been going on for many years, leaving that aside we are talking about something that barely could end up with even something close to bitcoin levels, that is just way too much and can't happen for the time being.

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It says that there will only ever be 21 million Bitcoin and the current BTC supply is almost at 19,094,150. What happens when its limit reached? will BTC price goes up instantly due to scarcity? is it the doom for Bitcoin since there is no room to mine? or maybe it will likely never reach 21 million?

I tried to read this and understand exactly what you're saying but I could not understand exactly what you meant bio composition of text all the hard way live directly about the Bitcoin don't have any limitation of going up and coming down because what is the three factor that causes bitcoin increment is the possibility of demand and supply in the cryptocurrency market. So I believe that cryptocurrency and the special of Bitcoin I have it way of increasing and it