Bitcoin limit supply

[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.

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[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.

[minime0105]

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