Bitcoin and is limit, why will use it?

Bitfort

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Quote from: federik95 on September 26, 2018, 06:15:08 AM

Quote from: Kez1817 on September 25, 2018, 04:02:26 PM

Quote from: federik95 on September 25, 2018, 02:54:25 PM

Hi, I know about 22 milions of bitcoin, in the next future why Bitcoin can be used in economy in there' re limit in quantity?

Thanks

Bitcoins limited quantity makes it more valuable but even it has a limited supply we can't use it in the future. Inpact there there is a bright future in bitcoun because as time goes by the value of bitcoin will increase more and more as long as there is a lot of demand after a couple of years or until future comes.

Why is more valuable? Why - in the next future - people must buy our BTC?

Quantity is not a problem at all. (as said above it's advantage). BTC is divisible and now we use 8 decimals (satoshi) but can be more if necessary.
Capacity is the issue ( possible number of transactions per sec. ). Blockchain can handle around 4 txs/sec ... that's pretty far from thousands txs/sec done by visa etc.

As of value. No one "must buy them" but if he wants BTC then he have to mine or buy (alternatively steal/seize).
I valuate BTC because of it's properties (predictable supply, crossborder usage , p2p...) and especially because of the limited amount.

federik95

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Quote from: Kez1817 on September 25, 2018, 04:02:26 PM

Quote from: federik95 on September 25, 2018, 02:54:25 PM

Hi, I know about 22 milions of bitcoin, in the next future why Bitcoin can be used in economy in there' re limit in quantity?

Thanks

Bitcoins limited quantity makes it more valuable but even it has a limited supply we can't use it in the future. Inpact there there is a bright future in bitcoun because as time goes by the value of bitcoin will increase more and more as long as there is a lot of demand after a couple of years or until future comes.

Why is more valuable? Why - in the next future - people must buy our BTC?

sud

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Actually, fixed supply is one of the advantages bitcoin has - it isn't inflatonary. You can't print more bitcoins unlike FIAT money, when some goverments are just devaluing their currency by emiting more and more bills. Also with more adoption, and more people joining crypto world, there will be bigger demand which should result in BTC price increase.

erominer

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that limit is useful in such a way that the supply will be no have no chance to increase but a chance to decrease due to some lost BTC and while the demand whether if it decrease then the price will drop but if it increases in the future then the price sill surely increase, that said many of us here are hoping demand will increase thay is why some members here are buying it. And if you already have it is up to you on how you use it.

Kez1817

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Quote from: federik95 on September 25, 2018, 02:54:25 PM

Hi, I know about 22 milions of bitcoin, in the next future why Bitcoin can be used in economy in there' re limit in quantity?

Thanks

Bitcoins limited quantity makes it more valuable but even it has a limited supply we can't use it in the future. Inpact there there is a bright future in bitcoun because as time goes by the value of bitcoin will increase more and more as long as there is a lot of demand after a couple of years or until future comes.

leetcoiner

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Quote from: Reatim on September 25, 2018, 03:05:31 PM

More or less 21M in total circulation but more than 17 million already mined. I'm not really sure what do you mean by used in economy. But bitcoin can be used as currency or it can act as cross-border payment as well. If people around Asia or Africa prefer to used bitcoin as remittances then it will be a good boost to their economy specially if countries have billions of USD coming from remittances alone.

It's not about which countries use bitcoin and how much turnover of this cryptocurrency they have at the moment. If you lose your private wallet key, your coins will disappear forever. And at some point it may happen that the number of coins in the world will be very low and thus cause an economic crisis in the field of cryptocurrency. Of course, there are a huge number of alternative currencies and this will mitigate the situation, but theoretically this can happen.

1Referee

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Quote from: bobo012 on September 25, 2018, 03:34:16 PM

Also there is around 3 million of bitcoins lost, and can never be recovered. That adds more scarcity to the game. Bitcoin is valuable because it is scarce and nobody controls the mint, also it is fixed cap.

How do you know that these coins are actually lost? Don't believe the crap that news outlets are spreading. Some coins might indeed be lost (ie, burnt for ever) but that doesn't mean the extent of burnt coins reaches all the way to 3 million. There are some solid hodlers out there not willing to move their coins, which might also have legal reasons in some cases.

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OP; Bitcoin having a hard cap of 21 million BTC doesn't mean that there are only 21 million units out there. Every 1BTC unit can be split into 100 million smaller satoshi units, so there is plenty of juice for everyone by the time mainstream adoption kicks in.

bobo012

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Also there is around 3 million of bitcoins lost, and can never be recovered. That adds more scarcity to the game. Bitcoin is valuable because it is scarce and nobody controls the mint, also it is fixed cap.

Marcel555

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The total supply is fixed at 21million bitcoin, and once the remaining 4million are mined, no other bitcoin can be created. And putting in consideration lost wallets the supply is reduced.
This scarcity would be beneficial for growth in the future.

jvdp

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Quote from: federik95 on September 25, 2018, 02:54:25 PM

Hi, I know about 22 milions of bitcoin, in the next future why Bitcoin can be used in economy in there' re limit in quantity?

Thanks

Mining limitations are there still whenever there is halving effects takes place and then once all the bitcoin has been mined today.If you want to invest on the bitcoin then just go with the good mining profitability.

Whether they have limit or not halving will be solve this issue and give more demand for the cryptocurrencies. This is really best time invest if you looking long term or even in short term profits.

Reatim

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More or less 21M in total circulation but more than 17 million already mined. I'm not really sure what do you mean by used in economy. But bitcoin can be used as currency or it can act as cross-border payment as well. If people around Asia or Africa prefer to used bitcoin as remittances then it will be a good boost to their economy specially if countries have billions of USD coming from remittances alone.

federik95

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Hi, I know about 22 milions of bitcoin, in the next future why Bitcoin can be used in economy if there' re limit in quantity?

Thanks

Topic: Bitcoin and is limit, why will use it? (Read 231 times)