Bitcoin limits | Bitcointalksearch.org

jekjekman

sr. member

Activity: 378

Merit: 250

Quote from: Cryp2 on October 18, 2017, 02:06:16 PM

Hi all members , I have a question to ask :
I read somewhere that bitcoin market is limited ie number of bitcoins in market shouldn't exceed limits .
Is that true ? If yes; why?
Thanks in advance

Yes 21,000,000 pieces of bitcoin is the highest possible number of coin that can be in the circulation
less the coins that was kept on irretrievable wallets and coins that belongs to people who died and
was not able to give their wallets to their relatives.

For me this is the best characteristic that bitcoin has, having a limited number of supply will result to
a higher price in the future and since no one can ever add more bitcoin in circulation this is the advantage
that the coin has over the fiat currency. Inflation is impossible for this kind of setup. If the demand for
the coin goes high expect for a much higher price for each coin because of the limited supply.

maynguyen

full member

Activity: 163

Merit: 100

By 2140 it will provide 21 million bitcoins but from its release to the end it will have hard times fork it will lose some coin so the value will be less than 21 million this you can find There are quite a few writers on the bitcoin formation that we never exceed the 21 million limit and the day it will be scarce and its price will be high

man1975asc

member

Activity: 122

Merit: 10

it will not exceed 21 000 000 BTC ... future hard forks excluded!

spinach98

member

Activity: 98

Merit: 10

Quote from: Cryp2 on October 18, 2017, 02:06:16 PM

Hi all members , I have a question to ask :
I read somewhere that bitcoin market is limited ie number of bitcoins in market shouldn't exceed limits .
Is that true ? If yes; why?
Thanks in advance

Each block on the Bitcoin blockchain is able to contain 1mb of data that means the block size of bitcoin is 1 megabyte. This means that there is a limit to how many transactions can fit in Bitcoin's blocks according to the data contained in said transactions.

Vadle

newbie

Activity: 61

Merit: 0

Quote from: Velkro on November 01, 2017, 02:21:42 PM

Quote from: Cryp2 on October 18, 2017, 02:06:16 PM

Hi all members , I have a question to ask :
I read somewhere that bitcoin market is limited ie number of bitcoins in market shouldn't exceed limits .
Is that true ? If yes; why?
Thanks in advance

No shouldn't, it will not exceed 21 000 000 BTC.
Its in favor of everybody so nobody will damage himself by even suggesting rising limit.
1 BTC can be divided endlessly (currently 8 numbers after . , but it can be risen to 16 numbers after .).

So u dont need to rise limit, u can scale bitcoin endlessly.

Yeah. 21m is the cap

Velkro

legendary

Activity: 2296

Merit: 1014

Quote from: Cryp2 on October 18, 2017, 02:06:16 PM

Hi all members , I have a question to ask :
I read somewhere that bitcoin market is limited ie number of bitcoins in market shouldn't exceed limits .
Is that true ? If yes; why?
Thanks in advance

No shouldn't, it will not exceed 21 000 000 BTC.
Its in favor of everybody so nobody will damage himself by even suggesting rising limit.
1 BTC can be divided endlessly (currently 8 numbers after . , but it can be risen to 16 numbers after .).

So u dont need to rise limit, u can scale bitcoin endlessly.

henryc4se

newbie

Activity: 8

Merit: 0

Yes, only 21 million bitcoins will ever be. That's in itself guarantees, that btc will move even higher in the coming months!

thinkpad99

sr. member

Activity: 654

Merit: 250

Quote from: CrazyClock on November 01, 2017, 01:20:29 PM

I am afraid you dont have so much bitcoin )

I have heard that Bitcoin resources are expected to be available by 2040. I do not know how much in this truth, but the best to dig as best and as soon as possible now!

CrazyClock

member

Activity: 392

Merit: 10

I am afraid you dont have so much bitcoin )

jack05

full member

Activity: 469

Merit: 101

Bitcoins are limited because if we had unlimited supply this would lead to devaluation. Total power is 21 million.

Berk

member

Activity: 99

Merit: 21

The theory is that we get a value increase by limiting the coins. It means not everyone in the world will have them therefore they are rare. sort of like gold.

Seansky

hero member

Activity: 560

Merit: 500

Quote from: Cryp2 on October 19, 2017, 07:13:10 AM

Thanks guys for your answers , but I still have an other question to ask : according to what you said , bitcoin is going to be rare , right? So its price will be more valuable , won't it?

Value would be more valuable like you said. It will also become rare just because as time pass, bitcoins are being lost due to forgotten private keys, wrong sent btc on wrong addresses or more. Besides it being lost, demand grows as time pass by, adoption rate grows ridiculously fast. Because of the said reasons, bitcoin supply is always decreasing. As it becomes lesser in number because of.decreasing circulating supply, value grows which also helps in it's growth.

AdolfinWolf

legendary

Activity: 1946

Merit: 1427

Quote from: Cryp2 on October 19, 2017, 07:13:10 AM

Thanks guys for your answers , but I still have an other question to ask : according to what you said , bitcoin is going to be rare , right? So its price will be more valuable , won't it?

Bitcoin itself will become "rare" in the future, but the technology around it won't.
The question is going to be if something that is technological way superior to bitcoin, would be able to effectively replace bitcoin. See ethereum for example.

But then again, some people don't hold bitcoin for the technological aspect, but more because of their ideological views.

lisa255

sr. member

Activity: 259

Merit: 250

Quote from: Cryp2 on October 18, 2017, 02:06:16 PM

Hi all members , I have a question to ask :
I read somewhere that bitcoin market is limited ie number of bitcoins in market shouldn't exceed limits .
Is that true ? If yes; why?
Thanks in advance

Certainly limited for value. Now more than 80% in circulation, and the rest is a very small fraction, but you can snatch a little. So if there is no increase in quantity, then soon everything will be occupied and sold out.

Wusolini

legendary

Activity: 1190

Merit: 1000

no need to carry heavy money bags anymore

Quote from: Cryp2 on October 19, 2017, 07:13:10 AM

Thanks guys for your answers , but I still have an other question to ask : according to what you said , bitcoin is going to be rare , right? So its price will be more valuable , won't it?

Yes. Common sense says so. Everything rare is valuable. Rarer things even more (for ex. diamonds, Elvis Presley's hairs ...).

Cryp2

newbie

Activity: 31

Merit: 0

Thanks guys for your answers , but I still have an other question to ask : according to what you said , bitcoin is going to be rare , right? So its price will be more valuable , won't it?

Wusolini

legendary

Activity: 1190

Merit: 1000

no need to carry heavy money bags anymore

Quote from: Ereun on October 18, 2017, 10:26:35 PM

Quote from: Wusolini on October 18, 2017, 02:25:47 PM

Quote from: Cryp2 on October 18, 2017, 02:06:16 PM

Hi all members , I have a question to ask :
I read somewhere that bitcoin market is limited ie number of bitcoins in market shouldn't exceed limits .
Is that true ? If yes; why?
Thanks in advance

Why? Because unlimited supply would bring devaluation issues like we know from fiats ( those are unlimited supply ).

Actually there will be less than 21 mil. BTCs in circulation (mostly because lot of people lost their private keys ).

So when someone loses the key of the wallet it will reduce the coin supply

If so many of them lose the key to what effect will happen to bitcoin

thank you

Yes. Every lost key (with some funds) reduce the total number of coins in circulation. Bitcoins will be still there (in blockchain) but will never circulate.
In addition we should also count with satoshi's bitcoins (coins mined by creator in the beginning, it's around 1 million coins) for which the private keys were intentionally lost/destroyed (though this can be fake info ... nobody knows for sure).

Effect? Can't say for sure as we don't know how many coins were lost this way. But in general the BTC becomes rarer ... so try to guess Wink

kissme09

full member

Activity: 658

Merit: 100

PayAccept - Worldwide payments accepted in seconds

The limitation of bitcoin is that 21 million bitcoins will be released until 2140, but it will be less than this because hardford times will lose some coin. If the bitcoin number is infinite, it will be exploited so many people will own a large amount of bitcoin and the value of it will be very small, not reach 5500 as typical hours are wth and xmr that is Two types of peach and the value of eth has gone through 4 times of hard ford but their prices have not increased much

Ereun

full member

Activity: 322

Merit: 100

Quote from: Wusolini on October 18, 2017, 02:25:47 PM

Quote from: Cryp2 on October 18, 2017, 02:06:16 PM

Hi all members , I have a question to ask :
I read somewhere that bitcoin market is limited ie number of bitcoins in market shouldn't exceed limits .
Is that true ? If yes; why?
Thanks in advance

Why? Because unlimited supply would bring devaluation issues like we know from fiats ( those are unlimited supply ).

Actually there will be less than 21 mil. BTCs in circulation (mostly because lot of people lost their private keys ).

So when someone loses the key of the wallet it will reduce the coin supply

If so many of them lose the key to what effect will happen to bitcoin

thank you

ItsEzMkay

full member

Activity: 303

Merit: 100

Quote from: Cryp2 on October 18, 2017, 02:06:16 PM

Hi all members , I have a question to ask :
I read somewhere that bitcoin market is limited ie number of bitcoins in market shouldn't exceed limits .
Is that true ? If yes; why?
Thanks in advance

You say shouldnt but the correct words are next to impossible to exceed. There is a way you could create a fake bitcoin but it would cost at least hundreds of millions of dollars if not billions and then at that point why bother?

The miners will only create 21 million total of which 99% will be in circulation in less than 25 years time.

Topic: Bitcoin limits (Read 755 times)