Topic: Bitcoin does not have limited supply - page 11. (Read 3265 times)

Okay, so I'm just gonna skip the argumentation phase and get right to the point: You're half right.
Bitcoin in its current state, has a limited supply: 21 million. However, changes can be made... If the whole network agrees to it, we could up that limit. Now I seriously doubt that will ever happen, but it's possible.

But that wasn't what you were trying to say. You're saying that if someone forks a coin, it would effectively up the coin's supply limit. This is not true.
If you fork a coin, you increase the supply limit of ALL cryptocurrencies together. Not that of Bitcoin. The supply limit of Bitcoin stays the same: 21 million.

Though I must say that I sort of agree with you that the argument of "Bitcoin has a limited supply" isn't a great argument for its price to rocket. It's partly a reason. If Bitcoin's supply could grow 10x in 1 month, obviously no one would invest in it. Luckily, that's not the case and Bitcoin's inflation is quite low.
However, it's quite likely that Bitcoin won't keep growing. Why? Because there are a whole shit ton of other cryptocurrencies out there, each competing to become the largest. And is Bitcoin, the oldest crypto of all, also the best crypto? Probably not. There are many cryptocurrencies offering way faster & more anonymous transfers, lower fees and other awesome features.

Bitcoin's dominance isn't an infinitely strong force. It's going to collapse and other, more advanced, cryptocurrencies will take its place. It's not a case of "if", it's a case of "when".

In short: Bitcoin has a limited supply. It's not a great reason to invest in it though, as there will be many, far more advanced, cryptocurrencies, competing for dominance over the relatively new world of cryptocurrencies.

Regards,
Trump

number of trolls on this forum is increasing by the minute these days. honestly is it that hard to see the difference between bitcoin and all these forks?
it is not like they have anything in common apart from the name which those altcoins are using to their own advantage.

Yes bitcoin does not have a limited supply because many people are supporting bitcoin nowadays, BTC have finite supply of 21 million coins and that is a fact which is very well known.I do not know why you think that some alt coin which have "bitcoin" in his name can change total number of coins.Most of that alt coins even with "bitcoin" in their names will simply disappear over time.There is always a option to increase total number of BTC,but I think nobody wants to that happen.One of the reasons why BTC is most popular crypto currency is his limited supply among other things,and 1000 more new coins on market will not change anything.

No they won't - and that is also why the realization will sink in that there is also no need to buy Bitcoin at those levels at all, and the party will come to an end

Well, but how this differs from creating just another altcoin? You can create hundreds of them but it will not change the limit of Bitcoin's overall supply which is 21 million.

You can create Bitcoin2 and say that this is the same thing as Bitcoin, but will people be buying your Bitcoin2 at $7,000+ per coin? I seriously doubt that.

All crypto are capable of circulating all over the world

Limit of 21 million coins is hardcoded in Bitcoin code. Forks are not part of Bitcoin, they are different currencies

I think what he means to say by low demand is that it has lack of support from core miners. Like out of the 40-50 miners in the core team just a bunch of them support these parallel bitcoins.

Of course I can. The cryptocurrencies are essentially fungible

Bitcoins supply still has more compared to other bitcoin crypto. It is still capable to circulate all over the world.

It may be limited but it cant be easily consumed. People today wont be living to see how bitcoin would be comsumed. because it could take many years to mine all those coins and maybe if that happens. New blocks or coins created by blockchain will be introduced as a new bitcoin.

You simply cant compare bitcoins with BCH or BTG. They might work on very same blockchain but are quite dissimilar. First thing the value of bitcoin cash is nothing in comparison with BTC. Bitcoin supply isnt increasing its just a parallel bitcoin being formed.

You argument si completely flawed, because there clearly is a demand for these altcoins

Yes bitcoin really does not have limited supply. The argument is again and again that the value of Bitcoin will increase because supply is limited to 21 million. But this is quite simply wrong. Every time Bitcoin is forked that is in real terms an expansion of the Bitcoin currency beyond 21 million. To some degree the same is true of alternative crypto currencies which will flood the market. There is already more than 1000 cryptocurrencies . Bitcoin is really successful.

And it does. It is called competition.

You really do not get it.

I agree with your assessment if that fork did not get enough support they will just be considered as altcoin with the name bitcoin on it, there's only one bitcoin and it's supply is limited and cannot be changed.

It is fascinating to see for us investors to see that the number of bitcoin supplies is are always met our demands which is a bonus to us bitcoin users. Because this is one factor which is huge for factor for a trading business because one of the basics in surviving in a economical industry of ours is to always meet up the demand of your consumer because if you cannot hit the demand then it is a huge setback for your consumers.

That's cryptocurrency as whole, not the supply of bitcoin, that is a two different things. Bitcoin always has a finite supply of 21 mil and you can't change that even with endless fork. On the other hand, people are free to create their own cryptocurrency, if it's good people will use it, it will survive and become alts, if it's dead then it's just like another shitcoin.

You could make the same argument for any investable asset.

There are tens of thousands of stocks and bonds, and yet many investors pour large sums into them.

You could also say that if another online retailer starts up, then that somehow devalues Amazon.

I see the same thing with Bitcoin and other (forked) cryptos and alt coins.

Bitcoin is like Amazon or Apple and, until a better crypto appears, all the others are like Poundland.

While there is unlimited fiat money waiting to be invested, there will continue to be growing demand for Bitcoin,

The cryptoes are fungible, hence doesn't matter what you label them