Topic: Bitcoin does not have limited supply - page 6. (Read 3283 times)
As far as I know bitcoin have limited supply, and according to the articles that I have read it is about 21 million. I hope that this supply will never end, and I hope also that shortage will not occur.
Bitcoin will always remain capped at 21M. The forks being created have no impact on the existing blockchain.
The supply of Bitcoin will remain 21 million, which will make Bitcoin expensive because of its limited supply. Every other coin that comes out as a product of a fork has nothing to do with bitcoin, except part of the name but basically this is just an altcoin that does not affect the supply of bitcoin. And once the mined bitcoin limit is reached the price will have a large pump.
nope, BTC supply is limited, fork just makes some new coins which are AltCoins, not Bitcoin.
Creating a new currency is not really a difficult thing to do. If you own 21 coins at a fork, you own a millionth of your total supply. Bitcoin always has a limited supply of 21 million and you can not change that even with endless forks. Bitcoin volume is still 21 million despite the number of branches. Last bitcoin was split in two, we had Bitcoin Gold BTG but this did not increase bitcoin volume as it is still at 21 million. I think forking exists in nature so there is no need to worry too much. The author, I do not understand you a bit.
At this point, it can be said that bitcoin has finite numbers! About 21 million, this number changes when the consensus members and developers change! I do not hope that, I hope much on the altcoin!
the maximum supply is 21m and I believe the price of bitcoin will continue increasing after last coin will be mined
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 cryptocurrencues ( https://en.wikipedia.org/wiki/List_of_cryptocurrencies )
I heard that argument over and over again, but I don't think it is a valid one. When you are forking bitcoin, you are not altering it's supply. You are creating a new coin, that needs to have a set of different rules, and so it cannot be considered bitcoin, so you can't say it's adding more coins to the BTC max supply.
The altcoin that results from that fork, could be accepted or not, and even if they are, they will not be confused with BTC.
Are you saying that bcash, or bgold is bitcoin? Are you saying these coins are an extension of bitcoin? They are not, so you can't say BTC limit supply was changed. You saw what happen after the B2x failed fork. Bcash was being pumped like crazy, and BTC price was decreasing. So basically these coins were "competing" with each other. Given this behaviour how can you say that the bcash fork was an expansion of bitcoin? They are completely different, and no mistakes should be made about that.
Well patt0 agrees that BCH and BTC compete with each other. He says
(...)You saw what happen after the B2x failed fork. Bcash was being pumped like crazy, and BTC price was decreasing. So basically these coins were "competing" with each other. Given this behaviour how can you say that the bcash fork was an expansion of bitcoin? (...)
I say that the fact that they compete with each other for the same USD money (if one price goes up, the other goes down) should make us draw opposite conclusions than patt0 does: namely, the right conclusion as I see it is that the supplies should be added, because they compete for the same USD money!I'll give you an example.
Example 1. If there are 100 bitcoins and all people in the world are happy to pay in total 100 USD for the bitcoins, the price will stabilize at 1$/BTC.
Example 2. If there were 50 bitcoins and all people in the world were happy to pay in total 100 USD for the bitcoins (total market cap just like in Example 1), the price would stabilize at 2$/BTC. But if they executed a fork (another 50 BCH, created out of thin air), competing with original BTC, making its price to go down to 1$, then we would have 50BTC at 1$, 50BCH at 1$, and total supply would be 100 cryptocurrency units (they have added up!) just like in the Example 1.
As you can see, the supplies should be added, because they compete for the same USD money!
You are right partially as there is no limit to the prices of bitcoin.sometime is currently it has a supply of 21 million coins.supply of btc is ample until it tame the universe bazaar.that has no influence on original bitcoin's 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 cryptocurrencues ( https://en.wikipedia.org/wiki/List_of_cryptocurrencies )
I heard that argument over and over again, but I don't think it is a valid one. When you are forking bitcoin, you are not altering it's supply. You are creating a new coin, that needs to have a set of different rules, and so it cannot be considered bitcoin, so you can't say it's adding more coins to the BTC max supply.
The altcoin that results from that fork, could be accepted or not, and even if they are, they will not be confused with BTC.
Are you saying that bcash, or bgold is bitcoin? Are you saying these coins are an extension of bitcoin? They are not, so you can't say BTC limit supply was changed. You saw what happen after the B2x failed fork. Bcash was being pumped like crazy, and BTC price was decreasing. So basically these coins were "competing" with each other. Given this behaviour how can you say that the bcash fork was an expansion of bitcoin? They are completely different, and no mistakes should be made about that.
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 cryptocurrencues ( https://en.wikipedia.org/wiki/List_of_cryptocurrencies )
maybe what I know is that the amount is limited in supply but the unlimited is the exchange and movement of buying and selling of the crypto currency itself and with that trade the price and value of crypto currencies vary in price 
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 cryptocurrencues ( https://en.wikipedia.org/wiki/List_of_cryptocurrencies )
If fork occurs, new kind of altcoin will born but not adding to the current supply of the bitcoin. And if you say that there is unlimited supply then the price of a single bitcoin would be very low even considering the number of forks that will do on the future.
some ppl can't get where is a real one "Bitcoin". they are not looking for tech, they are looking for profits.
Even though bitcoin has limited supply I wouldn't really say it does because their are other cryptocurrencies that are the same. It's not like pople will only use bitcoin in the future, they will use all the other coins as well. It's clear that consumers like choice.
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 cryptocurrencues ( https://en.wikipedia.org/wiki/List_of_cryptocurrencies )
I agree (partially) with that statement. The other crypto adds its supply to the supply of bitcoin. But the catch is in the weighted way that the new supply should be added. To be more precise: if a new crypto has some little fraction of bitcoin's total market cap, then the total supply of bitcoin can be increased with the same fraction of the new crypto's supply. Those weights make those 1000 other cryptocurrencies completely insignificant, with maybe a few exceptions. Those exceptions do add some more-or-less significant fraction to bitcoin's 21 million, but all in all I guess it is just another few millions. Probably much less then the total lost bitcoin count, anyway 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 cryptocurrencues ( https://en.wikipedia.org/wiki/List_of_cryptocurrencies )
Not really true. Bitcoin is still have limited supply of 21 million. If bitcoin forked into other coins, then it won't be a bitcoin anymore i guess.
Up to date, there is no coin have value like bitcoin. It means bitcoin is bitcoin, forked coin from bitcoin will never same as bitcoin.
how bitcoin was, the success of bitcoin can't be duplicated even its came from the core as people who understand bitcoin and support bitcoin will continue
to stay with the original one where they already familiar using it.
The author, I do not understand you a little. Yes, emissions are limited to 21 million tokens. The farther, the harder is the extraction and consideration of these factors - yes, the currency becomes more expensive
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 cryptocurrencues ( https://en.wikipedia.org/wiki/List_of_cryptocurrencies )
Not really true. Bitcoin is still have limited supply of 21 million. If bitcoin forked into other coins, then it won't be a bitcoin anymore i guess.
Up to date, there is no coin have value like bitcoin. It means bitcoin is bitcoin, forked coin from bitcoin will never same as bitcoin.
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 cryptocurrencues ( https://en.wikipedia.org/wiki/List_of_cryptocurrencies )
If fork occurs, new kind of altcoin will born but not adding to the current supply of the bitcoin. And if you say that there is unlimited supply then the price of a single bitcoin would be very low even considering the number of forks that will do on the future.
I think forking exists in nature... so no need to worry too much.
However a fork should be considered artificial or fake of the real thing until it is becomes widely used. For example, if you successfully create a replica of real Gold called "R. Gold" by mixing different elements/compounds... you will still have to convince people that your RGold is better than real Gold. If your RGold is really better people will join you and start producing the RGold. The RGold will Ofcourse have limited supply because the elements for creating it will have to be mined and we assume their supplies are limited.
However a fork should be considered artificial or fake of the real thing until it is becomes widely used. For example, if you successfully create a replica of real Gold called "R. Gold" by mixing different elements/compounds... you will still have to convince people that your RGold is better than real Gold. If your RGold is really better people will join you and start producing the RGold. The RGold will Ofcourse have limited supply because the elements for creating it will have to be mined and we assume their supplies are limited.
Bitcoin volume still remain 21 Million despite the number of forks. What happens when bitcoin is forked is that a new coin will come out of bitcoin. The last time bitcoin was forked we had Bitcoin Gold BTG but this did not increase the volume of bitcoin as it is still at 21 million. Forks happen to increase the scalability of bitcoin as people will leave the main blcokchain and move over to the new coin and this will free the block of bitcoin a bit for faster transaction.
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