Topic: Can bitcoin quantity go down? (Read 5436 times)
If maybe you're talking about total quantity of bitcoins, it can never go down, it will still be 21 million. But if you say the spendable bitcoin quantity, it could go down. In that case, if someone bought almost all bitcoins and decides not to spend them, it could cause a lot of chaos. There are so much bitcoins lost over the past years and still continuing. It will still continue to rise because of human error.
Maybe can, but it will not happen now, because bitcoin users now is very much, and will continue to multiply because now is the age of the Internet, and bitcoin is a currency that used by many internet users, so the possibility of a decrease in the quantity currently very small.
bitcoin itself has nothing to do with an exchange.
inside an exchange you are not looking at bitcoins. you are looking at a database balance of credits that (ethically) should represent bitcoin.
meaning
the exchange is ALLOWING you to have some balance of their database. which if the exchange is ethical they will swap that balance for real bitcoins when you withdraw.
the exchange can do anything they want to their database. they can charge fee's just for having a balance, they can charge fee's for making orders they can charge fees for deposits and withdrawals. they can so anything they like to their database. including making it zero for any lame reason they want.
this is why people hate middlemen, banks, exchanges. with all the "we been hacked" lies, with all the negative interest rates, with all the bankruptcy issues you should not trust handing your funds to a middleman in exchange for their "credits"/"balance".
as for bitcoin itself. knowing eventually there will be only 21mill coins. you cannot make the quantity go down. you can however put them into an address no one can spend from, to make them unspendable.. resulting in less than 21million coins being spendable/in circulation.
now that answer the topic.
it seems like an exchange is messing you around, care to name the exchange, describe the events better?
have you contacted the exchange?
have you checked the trade history/transaction history within the exchange to see where/why the balance missing had gone?
inside an exchange you are not looking at bitcoins. you are looking at a database balance of credits that (ethically) should represent bitcoin.
meaning
the exchange is ALLOWING you to have some balance of their database. which if the exchange is ethical they will swap that balance for real bitcoins when you withdraw.
the exchange can do anything they want to their database. they can charge fee's just for having a balance, they can charge fee's for making orders they can charge fees for deposits and withdrawals. they can so anything they like to their database. including making it zero for any lame reason they want.
this is why people hate middlemen, banks, exchanges. with all the "we been hacked" lies, with all the negative interest rates, with all the bankruptcy issues you should not trust handing your funds to a middleman in exchange for their "credits"/"balance".
as for bitcoin itself. knowing eventually there will be only 21mill coins. you cannot make the quantity go down. you can however put them into an address no one can spend from, to make them unspendable.. resulting in less than 21million coins being spendable/in circulation.
now that answer the topic.
it seems like an exchange is messing you around, care to name the exchange, describe the events better?
have you contacted the exchange?
have you checked the trade history/transaction history within the exchange to see where/why the balance missing had gone?
This information about the exchange is very much informative to me, I am so thankful for this information. Anyway, bitcoin quantity for me will never go down as long as the user of it is increasing as time goes by.
You are talking about the price of bitcoin .it really goes down and goes up at a very drastic level .well u dont have to worry about this .just keep on bitcoining .
Nope. He meant about the quantity of bitcoin in his wallet is going down which is really unusual or that wallet site is stealing from him or maybe some errors in their applications. He should make a move about that quickly after it happened. Calling the customer service would help if they have one.
Do you mean that your bitcoin's price is going down?, because it is impossible for your bitcoin quantity to go down without doing anything unless you are going to send it to someone that you know or to a shop where you buy something and the payment is bitcoin. The price of bitcoin is always fluctuating but the quantity never go down without doing anything.
I have some bitcoins in an exchange and I found today that, without any transactions being made, the quantity has gone down.
I have contacted the exchange who have said:
Is this correct? In my view the quantity of bitcoins I have should not fluctuate, only the value of said coins. Or am I missing something?
Any explanations would be great!
i don't think so , in my opinion the only one reason is user of bitcoin I have contacted the exchange who have said:
Quote
the balance varies according to the prices that are floating
Is this correct? In my view the quantity of bitcoins I have should not fluctuate, only the value of said coins. Or am I missing something?
Any explanations would be great!
i do not think so. i dont have pritty much knowledge about burning of bitcoins but all i know is there are total of 21million bitcoin in existance yes all are till not being mined but each coin can be devided upto 8unit place so the quantity is pritty much surable for everyone
Hello,
As per my knowledge, the amount of bitcoins in your wallet shouldn't vary. Agree that Bitcoins rate varies from day to day. But that applies to only those who buy and sell bitcoins. But if you have suppose 3.5 bitcoins in your wallet, they should stay intact even after two or three months unless you used them to pay for a product or service. They should not fluctuate as per the bitcoins rate prevailing on that day or that week.
May I/we know the wallet you are talking about. Please specify the name of the wallet and also the source which gave you the info that bitcoins count in the wallet changes as per the currency rate on that day----which isn't true!
As per my knowledge, the amount of bitcoins in your wallet shouldn't vary. Agree that Bitcoins rate varies from day to day. But that applies to only those who buy and sell bitcoins. But if you have suppose 3.5 bitcoins in your wallet, they should stay intact even after two or three months unless you used them to pay for a product or service. They should not fluctuate as per the bitcoins rate prevailing on that day or that week.
May I/we know the wallet you are talking about. Please specify the name of the wallet and also the source which gave you the info that bitcoins count in the wallet changes as per the currency rate on that day----which isn't true!
The quantity of Bitcoin in circulation is less than the actual number in theory, some people have lost their private keys, Hard Disc crash and so on. It can be lost and destroyed but we can have less than 21 million so the quantity has actually go down
yes in this sense the over all quantity of bitcoin is decreasing as some people have bitcoins in their wallets and they forgot the their wallets key, or some people may have died having good number of bitcoin so these are just locked and no one has the right to open it unless they find the key to utilize these bitcoins. 
The quantity of Bitcoin in circulation is less than the actual number in theory, some people have lost their private keys, Hard Disc crash and so on. It can be lost and destroyed but we can have less than 21 million so the quantity has actually go down
Agree and it always happen that some people lost their private keys and cannot retrieve their wallet. The coins is lost forever. Hard disk crash, it happens to me on other coins.
That's already a huge chuck.
i think that bitcoin quantity will never go down because bitcoin is very useful and and everyone using bitcoin for online shopping and many people use bitcoin as investment so bitcoin are going ahead and every company are adopting bitcoin for their own business.
I agree with you bitcoin quantity cannot goes down. As bitcoin is becoming
popular in every country and it is being used by bitcoiners. However,
bitcoin has a massive adoption through its community.
Bitcoin quantity goes down constantly, people lose them accidentally, they lose them by losing their hard drives, trezors, cold storage wallet papers... this will keep happening again and again, there's no stopping on those accidents. The good news is: if you take care of your bitcoins and do backups, you will enjoy the supply shrinking as the price goes up. Soon the generation of mined bitcoin reward will be too low and the amount of lost bitcoins will be higher, thus pushing the price higher.
Well I think someone should define something here. There is a difference between total bitcoin in circulation and the actual total quantity of bitcoin. There maybe a total of 21 million bitcoins when all bitcoins were mined but there will be less than 21 million in circulation (movable) because many users have lost their private key or just as the other said, died without anyone knowing that the person has bitcoin.
The quantity of Bitcoin in circulation is less than the actual number in theory, some people have lost their private keys, Hard Disc crash and so on. It can be lost and destroyed but we can have less than 21 million so the quantity has actually go down
but to me the quantity is not going down, it is faxed, for example i have 100 BTC so its number cannot decrease, it will remain 100 for ever, so i will like to say that its price cannot decrease. 
The quantity of Bitcoin in circulation is less than the actual number in theory, some people have lost their private keys, Hard Disc crash and so on. It can be lost and destroyed but we can have less than 21 million so the quantity has actually go down
Agree and it always happen that some people lost their private keys and cannot retrieve their wallet. The coins is lost forever. Hard disk crash, it happens to me on other coins.
Bitcoin quantity goes down constantly, people lose them accidentally, they lose them by losing their hard drives, trezors, cold storage wallet papers... this will keep happening again and again, there's no stopping on those accidents. The good news is: if you take care of your bitcoins and do backups, you will enjoy the supply shrinking as the price goes up. Soon the generation of mined bitcoin reward will be too low and the amount of lost bitcoins will be higher, thus pushing the price higher.
I think it does not go down. This thing only happens during halving as far as i know developers will make a halving period in order to minimize the over sized of bitcoin's amount so they decided that during halving the bitcoin quantity will be divided into half.
I agreed with you, the quantity of bitcoin is not the basis to make bitcoin go down. If ever bitcoin go down it means there is no bitcoin enthusiast left in cryptoworld. But for what is happening now is not like that instead, bitcoin getting more stable as time past by.
The quantity of Bitcoin in circulation is less than the actual number in theory, some people have lost their private keys, Hard Disc crash and so on. It can be lost and destroyed but we can have less than 21 million so the quantity has actually go down
Yes, many peoples lost their bitcoin, so it can make bitcoin quantity go down. If someone have bitcoin and save in offline wallet and die, the bitcoin is never found again. 
Any explanations would be great!
in reality, quantity goes down all the time, because some people loosing access to their bitcoins, other passing away without giving their private keys to ancestors, bitcoin are sent to addresses that noone own, so can't be retrieved etc.
So real quantity of bitcoin is not 21 000 000, actually is around maximum 17 000 000, 4 000 000 lost already
The only way for the quantity of bitcoin to go down is if many of the bitcoins owned become unaccessible by their owners. If they loose the private keys for their coins those coins will no longer be moved. As for the protocol it will ever bethe same no matter what, so only 21 million coins will be ever produced
Have you guys read front page of the thread, I think the OP question already answered and consider solved.The exchanges 'Bleutrade' seems strange which charge fees to balance that stored so the quantity go down (not bitcoin in circulation he mean)
The only way for the quantity of bitcoin to go down is if many of the bitcoins owned become unaccessible by their owners. If they loose the private keys for their coins those coins will no longer be moved. As for the protocol it will ever bethe same no matter what, so only 21 million coins will be ever produced
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