BTC Will Be Destroyed By Itself | Bitcointalksearch.org

abaidudez

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Quote from: alexey14 on March 07, 2018, 04:58:01 PM

I want to share my thought Why BTC Will Be Destroyed By Itself:
Every day Lot of people ( all of the Worlds) mining BTC it mean every day/Week/Year More BTC will be Injected to the Netwrok and it mean BTC abundance Will be increased and than Price will go lower and lower until 1$ probably.
Example:
Gold, silver and platinum are rare, thats why they are Expensive, BUT If Gold abundance was the same as Iron than Gold never was Expensive

I agree with you that BTC supply increases but for sure BTC demand also increases day by day. I don't think it will be destroyed by itself BTC will still be heal and develop and the network performance will still be updated and will bring new and will satisfied the peoples needs.

hulla

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Quote from: salterious on March 07, 2018, 05:03:59 PM

You are correct, everyday 1800 Bitcoins is added to the system. But what you failed to leave out is that because the demand is much higher than 1800 Bitcoins in a day, Bitcoin won't be worth $1 rather it will be worth $100,000+ I believe when all said and done.

Yes, 1800 btc was generated per day but I disagree with you and the OP because alot of people all of the world mining BTC does not increase the total number of BTC generated into the cap market but it only increase mining difficulties.

Crytptohack

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HodL!

Quote from: alexey14 on March 07, 2018, 04:58:01 PM

I want to share my thought Why BTC Will Be Destroyed By Itself:
Every day Lot of people ( all of the Worlds) mining BTC it mean every day/Week/Year More BTC will be Injected to the Netwrok and it mean BTC abundance Will be increased and than Price will go lower and lower until 1$ probably.
Example:
Gold, silver and platinum are rare, thats why they are Expensive, BUT If Gold abundance was the same as Iron than Gold never was Expensive

As mentioned previously, there will be a maximum of 21 million BTC available, that is the cap. (You can read the white paper which is not that long)

There are 7 billion people in the world and 'only' 21 million BTC available once it caps out. If there is worldwide adoption, 21 million is not that much. Plus, a certain percentage is lost forever due to a loss of private keys / drive failure accidents, etc...

sfdseew

newbie

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Actually, the demand for Bitcoin will always be much higher than the supply because the supply of Bitcoin has been determined and Bitcoin is becoming harder and harder to dig. Therefore, I think that the value of Bitcoin will only become higher and higher and not lower in the future.

bcni

newbie

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Quote from: alexey14 on March 07, 2018, 04:58:01 PM

I want to share my thought Why BTC Will Be Destroyed By Itself:
Every day Lot of people ( all of the Worlds) mining BTC it mean every day/Week/Year More BTC will be Injected to the Netwrok and it mean BTC abundance Will be increased and than Price will go lower and lower until 1$ probably.
Example:
Gold, silver and platinum are rare, thats why they are Expensive, BUT If Gold abundance was the same as Iron than Gold never was Expensive

Although it has been stable for nearly a decade as the world's first cryptocurrency, it is still predicting the likelihood of its demise in the future. Some smart people are also known for spreading Bitcoin syndrome. They've been predicting the demise of bitcoin, though it has proved to be wrong every day.

TepungBeras

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Presale is live: BitPenta.com

Gold every day is also in the mine but gold supplies are less than iron, which makes gold price expensive, as well as bitcoin that has limited inventory, which makes the price of bitcoin more expensive due to reduced supply of bitcoin.

Tisubasha

newbie

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it happens because the bitcoin price continues to rise, compared to gold, silver, platinum is still stable even the price is very easy to fall, if bitcoin prices soar from day to day and look for it very easily on the internet, so from the lowest class until the entrepreneur would mengiginkannya because the price tall one.

SUDARMONO

full member

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Gold every day is also in the mine, but from the level of availability and difficulty of mining it is one of the determinants of the price, iron is very easy and the amount of supply is also large and the users are different from gold, as well as bitcoin which has a limited supply and every day decreases that can in the mine and this is more and more interested, this is what causes bitcoin prices to be more expensive and will not go down to be $ 1, the silly thing when bitcoin prices go back at $ 1.

stomachgrowls

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Quote from: alexey14 on March 07, 2018, 04:58:01 PM

I want to share my thought Why BTC Will Be Destroyed By Itself:
Every day Lot of people ( all of the Worlds) mining BTC it mean every day/Week/Year More BTC will be Injected to the Netwrok and it mean BTC abundance Will be increased and than Price will go lower and lower until 1$ probably.
Example:
Gold, silver and platinum are rare, thats why they are Expensive, BUT If Gold abundance was the same as Iron than Gold never was Expensive

I guess you would still need to read up about more in bitcoin particularly on its total supply and the coins being generated on daily basis and how long or when all of those coins would be mined.It would take up year 2100+ before the last bitcoin would be mined.I must say this is just really small supply considering on the current demand of bitcoin.We are still on 16M coins circulating and the demand is high.If you do base on how big the community is you will really say that the supply is really lacking and that's how the value corresponds to.

NeverSop

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Activity: 518

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HODL

Quote from: salterious on March 07, 2018, 05:03:59 PM

You are correct, everyday 1800 Bitcoins is added to the system. But what you failed to leave out is that because the demand is much higher than 1800 Bitcoins in a day, Bitcoin won't be worth $1 rather it will be worth $100,000+ I believe when all said and done.

I have the same thoughts as you. In addition to the highest value of bitcoin in the market, it is very small and scarce is the main reason that bitcoin received great support from investors. With the current supply of 16 million bitcoins, it is too small for current investment needs.

5ensei

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A lot of them have been lost or intentionally burned. Also Satoshi has locked up at least 1 million bitcoins and they haven't moved at all. It will take a long time before the total supply is reached and after that the price will simply rocket

Warren Buffert

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Quote from: alexey14 on March 07, 2018, 04:58:01 PM

I want to share my thought Why BTC Will Be Destroyed By Itself:
Every day Lot of people ( all of the Worlds) mining BTC it mean every day/Week/Year More BTC will be Injected to the Netwrok and it mean BTC abundance Will be increased and than Price will go lower and lower until 1$ probably.
Example:
Gold, silver and platinum are rare, thats why they are Expensive, BUT If Gold abundance was the same as Iron than Gold never was Expensive

Maybe you should try getting familiar with supply and demand and how block rewards decrease.
Max 21 million isn't that much.

salterious

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The revolutionary Export system/One-click Export

You are correct, everyday 1800 Bitcoins is added to the system. But what you failed to leave out is that because the demand is much higher than 1800 Bitcoins in a day, Bitcoin won't be worth $1 rather it will be worth $100,000+ I believe when all said and done.

alexey14

jr. member

Activity: 225

Merit: 6

I want to share my thought Why BTC Will Be Destroyed By Itself:
Every day Lot of people ( all of the Worlds) mining BTC it mean every day/Week/Year More BTC will be Injected to the Netwrok and it mean BTC abundance Will be increased and than Price will go lower and lower until 1$ probably.
Example:
Gold, silver and platinum are rare, thats why they are Expensive, BUT If Gold abundance was the same as Iron than Gold never was Expensive

Topic: BTC Will Be Destroyed By Itself (Read 167 times)