A big problem in bitcoin ??? - page 4.

BitcoinGirl.Club

legendary

Activity: 2800

Merit: 2736

Farewell LEO: o_e_l_e_o

Quote from: pawanjain on March 21, 2017, 11:50:25 PM

I am not sure that this section is right to post my thread .
my question is :
since it was already fixed by the bitcoin owner network that 21 millions bitcoin can exist in the whole internet
But now I heard that now the mining of the bitcoin will be unlimited , I mean unlimited bitcoin will generate by the bitcoin network .
If this is real news then the value of the bitcoin will go down speedly
It is because the supply is unlimited so it is simple to say that bitcoin price will no more increase rapidly ., so no more profit

what's your thought guys Huh

First, let us get something out of the way, bitcoin total supply is not unlimited but limited to 21 million bitcoins that will ever exist!

Once these 21 btc coins are mined and owned by different people from all over the world it means demand will still be there and miners will still make their money and FYI price is even likely to increase more when all coins are mined as people know their availability is not ganranteed as some coins will be lost forever pushing prices higher.

biboy

full member

Activity: 406

Merit: 110

Quote from: Erelas on March 22, 2018, 09:49:04 AM

Bitcoin Unlimited probably could have been named a little better, to avoid confusion from the implication inherent in the name. No matter what naming convention, language etc., though, there will always be some confusion about what is actually meant.

It's fairly straightforward and easy to understand as long as you remember to read passed the headline. The "unlimited" part references the transactions, not the number of bitcoin.

One of the big problem that I am seeing about bitcoin, is the people itself, because they are just after the money that they will benefit from it, they don't realize one of the reason why bitcoin exist and that is to be able to help and make change in the economic system and make the society cashless.

Erelas

full member

Activity: 280

Merit: 102

Bitcoin Unlimited probably could have been named a little better, to avoid confusion from the implication inherent in the name. No matter what naming convention, language etc., though, there will always be some confusion about what is actually meant.

It's fairly straightforward and easy to understand as long as you remember to read passed the headline. The "unlimited" part references the transactions, not the number of bitcoin.

futureofeth

member

Activity: 686

Merit: 10

Quote from: Lampaster on March 22, 2018, 09:04:08 AM

Quote from: Bagaji on March 20, 2018, 03:15:35 PM

Op i don't believe it real that mining Bitcoin is unlimited for satoshi has already set the limits i don't believe that anyone aside Satoshi himself can change Bitcoin availability beyond 21,000.

Even Satoshi himself cannot change this rule. The program code is made so that bitcoin will not be created after 21 million coins. But why do people think that miners will lose interest in bitcoins after mining all the coins. They will earn money for confirming transactions. When the price of bitcoin is large it is very profitable. Restrictions on the number of coins in circulation will only increase its price.

To mature all Bitcoin it will take lot of time, may be another coin will become more popular for mining. We don't how people are going to react for the market. I think the second option we have after Bitcoin is ETH.

Lampaster

sr. member

Activity: 406

Merit: 255

Quote from: Bagaji on March 20, 2018, 03:15:35 PM

Op i don't believe it real that mining Bitcoin is unlimited for satoshi has already set the limits i don't believe that anyone aside Satoshi himself can change Bitcoin availability beyond 21,000.

Even Satoshi himself cannot change this rule. The program code is made so that bitcoin will not be created after 21 million coins. But why do people think that miners will lose interest in bitcoins after mining all the coins. They will earn money for confirming transactions. When the price of bitcoin is large it is very profitable. Restrictions on the number of coins in circulation will only increase its price.

dexterbit

newbie

Activity: 82

Merit: 0

Many problems to occur, a new electronic currency, perhaps one vouchsafed in a more transparent way, might arise. If the people who found Bitcoin useful for its anonymity, virtuality, and globality were to switch to this new currency, the value of Bitcoins would tumble. The reason is simple: Bitcoin’s exchange rates with other currencies depend on supply and demand; if no one wants Bitcoins, they’re worthless. And Bitcoin need not run into trouble for a new currency to appear.

BTCeminjas

member

Activity: 322

Merit: 23

Quote from: RodeoX on March 20, 2018, 03:17:53 PM

Quote from: pawanjain on March 21, 2017, 11:50:25 PM

I am not sure that this section is right to post my thread .
my question is :
since it was already fixed by the bitcoin owner network that 21 millions bitcoin can exist in the whole internet
But now I heard that now the mining of the bitcoin will be unlimited , I mean unlimited bitcoin will generate by the bitcoin network .
If this is real news then the value of the bitcoin will go down speedly
It is because the supply is unlimited so it is simple to say that bitcoin price will no more increase rapidly ., so no more profit

what's your thought guys Huh

Unlimited production? No, that is incorrect. If it were true you would be right, but there will be almost, but not quite, 21 million bitcoins produced.

Then how much the approximately total amount of bitcoin overall? I guess bitcoin now less than that 21 million supply there is some lost bitcoin that unclaimable due to lost private key or even dead owner that no one knows how to claim. Another factor that bitcoin lessen real amount is just they are many holders now that who trust bitcoin.

rhamdy

newbie

Activity: 126

Merit: 0

I totally agree with your opinion. I think what you think is very true. If the amount of Bitcoin is unlimited means that the price of Bitcoin will also decrease. I hope the amount of Bitcoin remains limited so that Bitcoin can survive at high prices.

RodeoX

legendary

Activity: 3066

Merit: 1147

The revolution will be monetized!

Quote from: pawanjain on March 21, 2017, 11:50:25 PM

I am not sure that this section is right to post my thread .
my question is :
since it was already fixed by the bitcoin owner network that 21 millions bitcoin can exist in the whole internet
But now I heard that now the mining of the bitcoin will be unlimited , I mean unlimited bitcoin will generate by the bitcoin network .
If this is real news then the value of the bitcoin will go down speedly
It is because the supply is unlimited so it is simple to say that bitcoin price will no more increase rapidly ., so no more profit

what's your thought guys Huh

Unlimited production? No, that is incorrect. If it were true you would be right, but there will be almost, but not quite, 21 million bitcoins produced.

Bagaji

sr. member

Activity: 1330

Merit: 291

Op i don't believe it real that mining Bitcoin is unlimited for satoshi has already set the limits i don't believe that anyone aside Satoshi himself can change Bitcoin availability beyond 21,000.

makolz26

sr. member

Activity: 714

Merit: 254

Quote from: MCVXYZ on March 18, 2018, 09:36:32 AM

I have seen a lot of posts about bitcoin's price and people are scared about this,I just want to say that,In countries where are the great economical indicators and less social problems even there are great economic fluctuations,its Inevitable process,just imagine in another situation there would be no progress because its an economical axiom.I just compare it to bitcoin's price and I believe that its temporary because its possibilities are not exaggerated...From a theoritical point of view,after fluctations there are always progress and also after a great revive there are always temporary fluctuations which as I said is not as bad as it seems and there,We had historical evidences and I don't understand after that why do we need talks about this.

That scared from one person is just like a virus that spreads rapidly to some people and if you are a weak person or in doubt about bitcoin so the virus will spread in you and becomes panic, that is why we need to have a full blast of knowledge so that we cannot infected by negative vibes of some people.

MCVXYZ

member

Activity: 630

Merit: 24

I have seen a lot of posts about bitcoin's price and people are scared about this,I just want to say that,In countries where are the great economical indicators and less social problems even there are great economic fluctuations,its Inevitable process,just imagine in another situation there would be no progress because its an economical axiom.I just compare it to bitcoin's price and I believe that its temporary because its possibilities are not exaggerated...From a theoritical point of view,after fluctations there are always progress and also after a great revive there are always temporary fluctuations which as I said is not as bad as it seems and there,We had historical evidences and I don't understand after that why do we need talks about this.

crisanto01

sr. member

Activity: 644

Merit: 253

Quote from: warrior333 on March 16, 2018, 10:39:53 AM

To run the mechanism of issue in bitcoin it will be tantamount to that to destroy this coin. What fool would do that? You don't have to worry. The number of coins will be limited to a figure of 21 million. Moreover, it is no secret that sent bitcoins to non-existent wallets, loss of access codes will reduce the number of coins. This means that bitcoin is doomed to a constant rise in prices.

Worrying would just lead you to panic, and if someone saw you on panic mode then it will spread just like a disease, so don't panic guys as this will just lead you to not achieving your own goal, remember panic is the one making block for you to get rich.

warrior333

sr. member

Activity: 406

Merit: 253

To run the mechanism of issue in bitcoin it will be tantamount to that to destroy this coin. What fool would do that? You don't have to worry. The number of coins will be limited to a figure of 21 million. Moreover, it is no secret that sent bitcoins to non-existent wallets, loss of access codes will reduce the number of coins. This means that bitcoin is doomed to a constant rise in prices.

St4yInTh3D4rk

sr. member

Activity: 686

Merit: 264

"STAY IN THE DARK"

Quote from: MaydayMayday on March 16, 2018, 06:48:18 AM

Total amount of bitcoins won't rise, don't worry

If the developer wants to increase the maximum supply then they can do but I don't think it will never happen.Bitcoin mining is not unlimited the difficulty level will change accordingly so last bitcoin will be mined at 2140 as per the calculation but still miners will work and they will get rewards from transaction fees.

MaydayMayday

newbie

Activity: 34

Merit: 0

Total amount of bitcoins won't rise, don't worry

burner2014

hero member

Activity: 952

Merit: 515

Quote from: rolerVX on March 15, 2018, 10:01:49 PM

In my thinking, this system was form with the people who are intellect. I do believe that before they launch this digital currency they already have in their a new scope of whatever happens in the coming future. The whole system was finished already. The operation can exists when time comes base on what they have planned that still they are the one who can manipulate this crypto. Now if we talk about this speedy decrease of bitcoin price nor the value I suppose to assume that it was planned already before launching the system.

a problem in bitcoin, is not the bitcoin itself but the people investing and holding on it, some negative people kept on exposing some fake news and those negative investors/holders once they have seen that the price change even for a little they are screaming and that creates panic for some people.

rolerVX

newbie

Activity: 168

Merit: 0

In my thinking, this system was form with the people who are intellect. I do believe that before they launch this digital currency they already have in their a new scope of whatever happens in the coming future. The whole system was finished already. The operation can exists when time comes base on what they have planned that still they are the one who can manipulate this crypto. Now if we talk about this speedy decrease of bitcoin price nor the value I suppose to assume that it was planned already before launching the system.

Primuscoin

newbie

Activity: 56

Merit: 0

"Hi im Tai Lopez, and i trade on Bitcoins"

darkangel11

legendary

Activity: 2478

Merit: 1360

Don't let others control your BTC -> self custody

Quote from: futureofeth on March 14, 2018, 07:06:39 AM

Why don't you check the market cap daily because most of the people are not willing to sell their Bitcoin for cheap prices because they bought them at the higher prices? People are willing to hold the Bitcoin as long as possible to make more returns on their investment.

There's a lot of truth in this. I've been watching this play out for years and it's mostly the same people trading, that's why every new buyer on the market is slowly pushing the price up and we're growing every year. What is growing? Everything! The number of addresses, exchanges, users on existing exchanges, price, market cap, everything is going up in the long run. The only thing that managed to cause this recent shaking is the MtGox sale. A lot of previously held money entered the market at the time when prices were declining. A completely unreasonable thing, a random dump that started the panic.

Topic: A big problem in bitcoin ??? - page 4. (Read 7860 times)