Topic: Bitcoin does not have limited supply - page 7. (Read 3283 times)
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.
Forks don't increase the supply, they make more denominations within the same limited supply. If you own 21 coins pre-fork then you own a millionth of the total supply. After a fork, you still own a millionth of the total supply of either chain.
Bitcoin forks are indeed strange, but a fork doesn't increase the supply of bitcoin any more than simply creating a new coin or ICO creates more bitcoin supply.
It's a new coin, that just happens to share the same blockchain up to the point of the fork, so you inherit all the transactions that happened previous to the fork (but not after).
It's very weird, and hard to grasp why it works. The actual creation of the new coin is not a hard thing to understand. That's just mechanics.
It's a new coin, that just happens to share the same blockchain up to the point of the fork, so you inherit all the transactions that happened previous to the fork (but not after).
It's very weird, and hard to grasp why it works. The actual creation of the new coin is not a hard thing to understand. That's just mechanics.
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 )
Th forking (or absence of it) does not effect Bitcoin's supply. At best, you can consider it as a "gift" to all bitcoin holders, which will increase the overall worth. It in no way impacts the overall supply of 21 Mn, which is set in stone.
That is precisely my point. I create "Bitcoin2" by forking. Then I create "Bitcoin3" and so on and so on. In reality what I am doing is issuing more Bitcoin. That I call it a different name does not change the reality.
Even there will be a thousand bitcoin fork it even doesn't affect the 21M supply, as obviously the fork coin have different supply and besides those fork coins is already consider an altcoin.
Well I think the argument is more clear, stop dreaming that those fork coins can replace bitcoin on its position, even they claim that they're more faster and low trnx fee, and that's BS.
Thanks. 
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 )
Th forking (or absence of it) does not effect Bitcoin's supply. At best, you can consider it as a "gift" to all bitcoin holders, which will increase the overall worth. It in no way impacts the overall supply of 21 Mn, which is set in stone.
That is precisely my point. I create "Bitcoin2" by forking. Then I create "Bitcoin3" and so on and so on. In reality what I am doing is issuing more Bitcoin. That I call it a different name does not change the reality.
You're just creating another cryptocurrency, like eth, ltc, etc. That has no impact on original Bitcoin's supply.
it only breaks the focus of enthusiastic bitcoin users. besides that, the bitcoin branch is only for making profit for a moment. I believe Bitcoin remains 21 million. and others only trace the success of bitcoin. by just modifying the characteristics of bitcoin. they developers hope to compete with bitcoin. but it's a big mistake. bitcoin remains number 1.
As a leader in coin and other altcoins in the market and any trading sites ,I believe that bitcoin has enough supply of coins in the market, so the customers and investors can sitll invest if they like to invest in this kind of coin in the market, so it is not true that bitcoin has a limited supply of coin in the coin market.
Forking never means increasing supply of the forked coin. It only means creating a new coin with a lot of similarities but the original always stays untouched. And history shows that original coins remain more populair than their forks.
those shit forks are not bitcoin they are altcoins! you see you can copy the code but not the network of it, not the hashpower of it, you cannot copy the brand and you cannot copy the reputation that the bitcoin has earned overtime, though i believe that being not scarce is not wrong, dollar is not scarce, gold too is not scarce.. but bitcoin will always be a scarce.
bitcoin has a supply of 21 million coins that cannot be added and subtracted. with bitcoin suplly, the less supply it can make bitcoin prices are expensive and continue to rise
i think it's a completely other thing you talk about, you create a different chain, so that's not effective BTC anymore....
Supply of btc is adequate until it dominate the world market. The popularity and the craze of btc will definitely be the cause of 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 cryptocurrencues ( https://en.wikipedia.org/wiki/List_of_cryptocurrencies )
as far as I know, btc has a supply limit of 21 billion, but we don't know yet whether it will continue to increase due to the fact that until now it still can be mined freely and reliably.
We all know that gold has a limited supply. But it is not only about supply.
Someone who considers to invest for gold may think that its price too high to buy and look for other metals like silver or platinum. Like investing other metals rather than gold, we can say that adding other metals into the market as a investment tool makes an imaginary effect (even though supply for gold is very limited).
Alternatives can change market rules and makes an effect as if supply is increased.
Someone who considers to invest for gold may think that its price too high to buy and look for other metals like silver or platinum. Like investing other metals rather than gold, we can say that adding other metals into the market as a investment tool makes an imaginary effect (even though supply for gold is very limited).
Alternatives can change market rules and makes an effect as if supply is increased.
Last supply is 21 million coins. Very cheap supply coin bitcoin is a huge currency. This bitcoin at the world is very popular. Do not understand why bitcoin why so much less coin supply. Limited popularity like other popular currency.
All I know is that Bitcoin has a supply of 21 million and no more. Bitcoin continues to spin like a life cycle. There are some people who win it and deviate bitcoin for its sake and there are also people who buy bitocin for trading. And I think that bitcoin is a bit more than the total supply said.
You can create unlimited Bitcoin forks, but these wont take much from Bitcoin dominance percentage over all crypto coins. Thats why Bitcoin is such safe bet among crypto coins, even though dozens Bitcoin forks happened in last year.
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 )
Fork coin is a fork coin, not bitcoin even if it forked from bitcoin. And bitcoin is still have 21 million limited supply.
look ETH, it doesnt have limited supply because in coinmarketcap i dont see any max amount of it. If bitcoin doesn't have max supply, i think bitcoin price could not be expensive in the market.
The fact that thousands of copies of bitcoin are created does not reduce the price of this bitcoin:) I think it's clear to everyone, or eventually it will be clear:)
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