Do you think they can print more bitcoin like to increase supply if lacking?

[Nightwalker(NW)]

I greet oo my pipo,
See eh e get one thing wey don dey border me for long now and i no fit reason am alone and i say make i come ask here to see weda possibilities day or not, i just dey think say with the way bitcoin price dey go up every day and night and come happen say we dey also experience halving like every 4 years as we dey expect am, and if that happened the price dey always shoot go up, and more pipo dey venture into investment to buy bitcoin including companies and private sectors and e no just end there.

This game now don enter politics where be say government self don dey accumulate bitcoin dey use am a strategic reserve fund for themselves and countries, go make am we go dey short of supply and if the supply finished where by say there are no more bitcoin shabi the developers go print more bitcoin or them go increase the supply to enable other pipo buy bitcoin since e be say e don finish (scarcity of bitcoin) could lead to increase in supply.

Is this possible to happened and, me i know say everything dey possible for industry and if them produce more bitcoin won't that affects the price whereby it could cause dump in the market?

Abeg make we yarn possibility weda e fit happened or not.

[Orpichukwu]

Developer no fit print any bitcoin, Bitcoin supply they fixed and eh no go fit pass 21,000,000.. eh no possible to increase the supply the government no fit control that one and the developers self no fit also run that one, nah watin make bitcoin be one big asset when them say eh get limited supply eh really get..

[Charles-Tim]

Developer no fit print any bitcoin, Bitcoin supply they fixed and eh no go fit pass 21,000,000.. eh no possible to increase the supply the government no fit control that one and the developers self no fit also run that one, nah watin make bitcoin be one big asset when them say eh get limited supply eh really get..

Bitcoin maximum supply can be altered but the consensus rules about it must first be changed. I do not think there can be any consensus from any node runner about it as they will not all agree with something like that. If at all something like that is proposed, all node runners will against it and bitcoin maximum supply will not be altered.

[Sticky Bomb]

This game now don enter politics where be say government self don dey accumulate bitcoin dey use am a strategic reserve fund for themselves and countries, go make am we go dey short of supply and if the supply finished where by say there are no more bitcoin shabi the developers go print more bitcoin or them go increase the supply to enable other pipo buy bitcoin since e be say e don finish (scarcity of bitcoin) could lead to increase in supply.

Bitcoin no be Fiat wey dem government dey print continuously. Bitcoin no go fit exceed maximum supply of 21,000,000. As soon as them don mine all Bitcoin, Dem no go fit mine new Bitcoin again. Scarcity na one of the core features of Bitcoin wey dey make am dey in demand Everytime and naim make an say inflation no go hit am rather em go dey appreciate in value due to the scarcity. E no really get when Bitcoin no go dey in circulation because Bitcoin na real money and people go always dey buy and sell am Everytime.

Is this possible to happened and, me i know say everything dey possible for industry and if them produce more bitcoin won't that affects the price whereby it could cause dump in the market?

Abeg make we yarn possibility weda e fit happened or not.

If developers ever mint above 21 million Bitcoin investors go lose confidence and dump Bitcoin very hard, again mining more Bitcoin go require a hard fork on the Bitcoin source code and any adjustment they make to the total supply, them don create another token and no longer Bitcoin.

[Nightwalker(NW)]

Developer no fit print any bitcoin, Bitcoin supply they fixed and eh no go fit pass 21,000,000.. eh no possible to increase the supply the government no fit control that one and the developers self no fit also run that one, nah watin make bitcoin be one big asset when them say eh get limited supply eh really get..

Bitcoin maximum supply can be altered but the consensus rules about it must first be changed. I do not think there can be any consensus from any node runner about it as they will not all agree with something like that. If at all something like that is proposed, all node runners will against it and bitcoin maximum supply will not be altered.

So if the supply can be altered why the price dey always go up and why e be say people no dey think say one day dem fit change am or if the node runners decides say something like that go happened wetin go be the fate of people wey already accumulates thousands of bitcoin with the hope say something would happened in 4-5 halving time. And na true you tok because if that happened people go lose well and e go affect the trust and believe people don already put for bitcoin all these years.

[Charles-Tim]

So if the supply can be altered why the price dey always go up and why e be say people no dey think say one day dem fit change am or if the node runners decides say something like that go happened wetin go be the fate of people wey already accumulates thousands of bitcoin with the hope say something would happened in 4-5 halving time. And na true you tok because if that happened people go lose well and e go affect the trust and believe people don already put for bitcoin all these years.

If bitcoin is inflationary, people will lose interest, and that could be the beginning of bitcoin becoming a shit coin. So no one that is supporting bitcoin, like node runners, miners, holders or traders will ever support bitcoin supply to be increased because they know that it will lead to a significant drop in price as the supply increased and also the demand will reduce which will further move the price down.

[Orpichukwu]

So if the supply can be altered why the price dey always go up and why e be say people no dey think say one day dem fit change am or if the node runners decides say something like that go happened wetin go be the fate of people wey already accumulates thousands of bitcoin with the hope say something would happened in 4-5 halving time. And na true you tok because if that happened people go lose well and e go affect the trust and believe people don already put for bitcoin all these years.

If you read the correction way Charles-Tim give me you go understand say the possibility for the number to increase they very small no be say eh no possible but the chances for all node runners to agree with that proposal they very slim nah why people still believe in Bitcoin and the price go increase.

We get more than 4-5 halving before the last block go they mined, nah still about 28 more halving nah remain before we go say buy buy to new bitcoin way they always enter circulation after halving.

[EL MOHA]

So if the supply can be altered why the price dey always go up and why e be say people no dey think say one day dem fit change am or if the node runners decides say something like that go happened wetin go be the fate of people wey already accumulates thousands of bitcoin with the hope say something would happened in 4-5 halving time. And na true you tok because if that happened people go lose well and e go affect the trust and believe people don already put for bitcoin all these years.

Simply as he put it out there are many node runners so there must be a consensus for this to happen people are actually accumulating and very confident that there will never be any of them happening because this is not a decision that is taking by Just few cycle of people at one place but rather it involves lots of node runners and this where bitcoin actually boast of it decentralization.

If you’re actually looking for a reason why it won’t happen I will say read through multiple hard forks that were proposed to alter some changes in bitcoin and they were not consensus to actually adopt them

[Agbamoni]

I hope say you understand weting Orpichukwu done talk. Bitcoin supply dey fixed nothin fit changed that fact. Satoshi is no where to be found, and if to say you don read Bitcoin whitepaper you go understand everything wella.

See the link here https://bitcoin.org/en/.
Read the whitepaper, the developer aspect too, you go know why more bitcoin no go fit dey printed.

[SmartGold01]

Increasing the total supply of Bitcoin could caused more harm or even bridges people's trust towards Bitcoin and if they increase the supply then Bitcoin is no longer decentralized anymore because and the reason for most people investment is as results it's decentralized nature and could be hard to control by one single individual unlike altcoin that are being waved and manipulated anytime they wishes by the developers.

[Tungbulu]

The truth of the matter here be say, no matter where the price of BTC reach or possibly how many countries start to adopt am, the total number of Bitcoin wey go ever exist go still be 21M, nobody go fit print more Bitcoin, Na why Bitcoin dey decentralized, e no be like the normal centralized financial system wey we get for our various countries, wey government fit just enter go print money whenever them want, consistently altering the supply of the fiat currency. For BTC, e no dey like, nobody fit print more BTC as the max number of supply don already dey coded for the system, so except say you get access to the codes before you fit make that kyn changes.

Again, the BTC network dey run on thousands of independent computers across the globe wey them dey also call nodes, now in order for this kyn changes to fit happen, all these nodes gats to agree say them wan change the total supply, and we already know say everybody no go fit concur to that kyn thing, considering the fact say Na that limited supply give Bitcoin en real value.

[Ever-young]

People don already answer wetin dey my mind to talk, but to add to wetin others don already talk so far.

About the scarcity part you mentioned, of a truth, the more people, countries and institutions begins to buy and hodl bitcoin, the less it’ll be available for sale, and according to the law of demand and supply, that will naturally make the price of Bitcoin to be even more expensive, but that no mean say more Bitcoin go appear or them go create more Bitcoin, just like the normal fiat, scarcity no get the capacity to trigger the printing of more  Bitcoin as e no dey centralized.

Even if eventually the supply maxes out, miners won’t just stop working as they’ll still be collecting TX fees as their reward for maintain the Bitcoin network, meaning that the network will still be active, even if no new Bitcoins are printed.

[Tungbulu]

Increasing the total supply of Bitcoin could caused more harm or even bridges people's trust towards Bitcoin and if they increase the supply then Bitcoin is no longer decentralized anymore because and the reason for most people investment is as results it's decentralized nature and could be hard to control by one single individual unlike altcoin that are being waved and manipulated anytime they wishes by the developers.

That’s right.
One of the strongest qualities of Bitcoin that makes a lot of people have the kind of trust they have for it is its decentralized nature, I mean that’s one of the core values of Bitcoin, it is already said Bitcoin has a limited supply and that limited supply has its own advantages on the network, altering that supply will not only affect Bitcoin but also affect the trust that most people already have for Bitcoin, which is the reason they are investing in it in the first place. Plus, Bitcoin isn’t gonna really be that special anymore when people have that feeling or belief that someone can change or make alterations on the network when the need arises, that’ll definitely not be good for the network.

[Ever-young]

Developer no fit print any bitcoin, Bitcoin supply they fixed and eh no go fit pass 21,000,000.. eh no possible to increase the supply the government no fit control that one and the developers self no fit also run that one, nah watin make bitcoin be one big asset when them say eh get limited supply eh really get..

Bitcoin maximum supply can be altered but the consensus rules about it must first be changed. I do not think there can be any consensus from any node runner about it as they will not all agree with something like that. If at all something like that is proposed, all node runners will against it and bitcoin maximum supply will not be altered.

Although even if possibilities dey to fit print more Bitcoin, (which is either to go find Satoshi, collect the codes wey e take program the Bitcoin network, or to assemble all the nodes make all of them agree to make that changes) the truth still be say, Technically e no dey possible, because with the look of things, the possibilities wey we dey talk no even possible self.
It’s just like saying that 51% attack is a potential way of hacking the network, when we all know say even that method self no still dey possible as e go still involve one person to take control of all the nodes wey dey scattered all over the globe.

[Pjcr7]

I greet oo my pipo,
See eh e get one thing wey don dey border me for long now and i no fit reason am alone and i say make i come ask here to see weda possibilities day or not, i just dey think say with the way bitcoin price dey go up every day and night and come happen say we dey also experience halving like every 4 years as we dey expect am, and if that happened the price dey always shoot go up, and more pipo dey venture into investment to buy bitcoin including companies and private sectors and e no just end there.

This game now don enter politics where be say government self don dey accumulate bitcoin dey use am a strategic reserve fund for themselves and countries, go make am we go dey short of supply and if the supply finished where by say there are no more bitcoin shabi the developers go print more bitcoin or them go increase the supply to enable other pipo buy bitcoin since e be say e don finish (scarcity of bitcoin) could lead to increase in supply.

Is this possible to happened and, me i know say everything dey possible for industry and if them produce more bitcoin won't that affects the price whereby it could cause dump in the market?

Abeg make we yarn possibility weda e fit happened or not.

E no fit happen, so long as say na BTC, e no go everly fit happen for this life because firstly e get fixed and limited supply of only 21 million. The owner abi make I talk say the creator of the coin Satoshi only creat a fraction because him understand simple law of demand and supply wey talk say, the smaller the supply the higher the demand and vice versa. His main reason na just to create scarcity and this scarcity go make the coin go up. Since Bitcoin na L1 Blockchain and the very first of its kind, I believe say Satoshi build in protocols on BTC wey be say person or entities no go fit add to the maximum number of 21 million wey him beg am to be. I hear say after creating it, him give himself about 1 million of BTC and the rest 20 million for others to mine for over 100 years. That man abi woman (because no body know him identity) smart oooo.

[nelson4lov]

It's not set in stone and that means there's a possibility but the truth is that the probability of that happening is extremely low or totally negligent. Maybe things may change when the max supply has been completed mined and miners threaten to stop doing their job unless they're heavily in incentivized to do so like they currently do? It is my belief that the current max supply of 21M Bitcoin go dey like that forever.