Can bitcoin quantity go down? - page 2.

crairezx20

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Quote from: CraigWrightBTC on November 10, 2016, 09:47:49 AM

Quote from: FoxyBit on September 30, 2016, 05:14:05 AM

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:

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!

Should amount of bitcoins are stay if you don't trading to altcoins,withdrawal or losing some coins in trading. But your problem is strange where do you put the bitcoins? I think you must tell us it will give us more details, and if you have valid proof you can make open post on scam accusations.

I think there is no exchange site are saying this thing and maybe you are scammed by that exchange site it is impossible to reduce or deducted it without using it is impossible what site you are holding your bitcoins better to share it with us to know if it is scam or not..

xIIImaL

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Quote from: croutonhexagon on November 10, 2016, 11:25:44 AM

If you wish you could leave bitcoin network with available bitcoin in your wallet and that amount would never be used by anyone and that amount would be called dark amount because it's useless and no one will use it again. So this would reduce the quantity of bitcoin in circulation

circulation will be affects when the wallet is holding with big funds else nothing will affect. Due to halving mining only will become half. this is only thing can go down nothing else.

Mirconome

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Quote from: CraigWrightBTC on November 10, 2016, 09:47:49 AM

Quote from: FoxyBit on September 30, 2016, 05:14:05 AM

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:

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!

Should amount of bitcoins are stay if you don't trading to altcoins,withdrawal or losing some coins in trading. But your problem is strange where do you put the bitcoins? I think you must tell us it will give us more details, and if you have valid proof you can make open post on scam accusations.

I think this is empty talk, and came to nothing lead. If someone accuses someone, you need evidence to make us believe, but on the other hand, we do not solve the problem and demand can not do anything.

olyaru

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Quote from: croutonhexagon on November 10, 2016, 11:25:44 AM

If you wish you could leave bitcoin network with available bitcoin in your wallet and that amount would never be used by anyone and that amount would be called dark amount because it's useless and no one will use it again. So this would reduce the quantity of bitcoin in circulation

Why then write your bitcoin forever if you can still use coins for their own needs, I do not care if they do not want more to apply.

bikbik2

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Quote from: Liad.Services on November 10, 2016, 05:40:13 AM

Overall,yes.
Bitcoin supply is planned to get lower as years are passing,because some private keys of addresses that contains bitcoins are getting lost over the time by people who just forgot about their wallet,lost their private key, or were just dead and got their bitcoins lost.

Everytime a bitcoin is being lost it is a pure benefit to the community as it makes less bitcoins in circulations which will always make the price go higher.

It is difficult to imagine the difficulties of such a scale. It is not surprising that many have begun to complain about the safety of their wallets. But to disappear there is no place. How to legally defend themselves in such a case.

croutonhexagon

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If you wish you could leave bitcoin network with available bitcoin in your wallet and that amount would never be used by anyone and that amount would be called dark amount because it's useless and no one will use it again. So this would reduce the quantity of bitcoin in circulation

CraigWrightBTC

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Quote from: FoxyBit on September 30, 2016, 05:14:05 AM

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:

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!

Should amount of bitcoins are stay if you don't trading to altcoins,withdrawal or losing some coins in trading. But your problem is strange where do you put the bitcoins? I think you must tell us it will give us more details, and if you have valid proof you can make open post on scam accusations.

ranochigo

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Quote from: Zadicar on November 10, 2016, 08:54:43 AM

Quote from: ranochigo on November 10, 2016, 08:46:56 AM

Bitcoin quantity can go down. In the early days, miners accidentally used a faulty software and claimed the reward that is less than 50BTC at the start of Bitcoin. The reference nodes will however, now reject transactions that has a coinbase that does not claim the full rewards+fees. This put a stop at the problem. The actual total possible Bitcoin is about 20.9Million BTC.

Coins are still being lost with people losing private keys and some burning it. The smaller denomination of Bitcoin will simply be worth more.

This is new to me and thanks for the info, can you show a link regarding on this information? On how bitcoin could possibly go down its quantity.

The rounding off of the block rewards will eventually introduce a slight problem. You can calculate it yourself, starting from halving 50BTC to the bottom.

The problem I highlighted was addressed in BIP30[1]. My apologies, I missed out on the fact that the block reward can be less than the expected amount. Corrected it in my original post.

[1] https://github.com/bitcoin/bips/blob/master/bip-0030.mediawiki

housebtc

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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

carlisle1

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Quote from: President79 on November 10, 2016, 01:41:42 AM

Quote from: Jonar21 on November 10, 2016, 01:29:23 AM

Quote from: Zadicar on November 10, 2016, 12:11:31 AM

Quantity of bitcoin could not go down but the accesibility of each one of them might be restricted because of those coins that are lost on bitcoin ecosystem , same as others said here that people who lost their bitcoins because they forgot their password and cant able to access already to the wallet which means the coins is still there floating around.

There may be suspected criminals who have picked up your password. But this is unlikely. I do not think it's that simple. Purses have a very good level of protection.

If we use 2FA increase more security, opportunities for stolen our bitcoin almost impossible. I more believe you can guess the password 100 member on this forum without any wrong than steal your bitcoin in wallet with 2FA.

that's right using a two factor authentication could help the users to make their vault or wallet to be more secured and it can help you to avoid those thieves to access your wallet but there will be another problem if ever that user lost or forgotten their passwords or much worse if their 2FA code .

Zadicar

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Quote from: ranochigo on November 10, 2016, 08:46:56 AM

Bitcoin quantity can go down. In the early days, miners accidentally used a faulty software and claimed the reward that is less than 50BTC at the start of Bitcoin. The reference nodes will however, now reject transactions that has a coinbase that does not claim the full rewards+fees. This put a stop at the problem. The actual total possible Bitcoin is about 20.9Million BTC.

Coins are still being lost with people losing private keys and some burning it. The smaller denomination of Bitcoin will simply be worth more.

This is new to me and thanks for the info, can you show a link regarding on this information? On how bitcoin could possibly go down its quantity. If its possible then for sure bitcoin would be valuable. As you said if the count would be less , bitcoin would be worth more. Lossing bitcoins are not schoking news anymore because it really happens on bitcoin ecosystem because of the negligence of other bitcoin users.

Monetizer

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I know this thread is quite old but I thought I'd chime in. It means your exchange is using some currency and equating it to bitcoin. As for if quantity can go down, no bitcoin will not change from the 21 million imo although coins are lost all the time meaning if you ask me there will probably only ever be like 17m in circulation and like 7m changing hands.

ranochigo

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Bitcoin quantity can go down. In the early days, miners accidentally used a faulty software and claimed the reward that is less than 50BTC at the start of Bitcoin. The actual total possible Bitcoin is about 20.9Million BTC.

Coins are still being lost with people losing private keys and some burning it. The smaller denomination of Bitcoin will simply be worth more.

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Quote from: Red-Apple on November 10, 2016, 08:18:44 AM

Quote from: Liad.Services on November 10, 2016, 08:08:43 AM

Quote from: Doamader on November 10, 2016, 07:55:33 AM

In the begining there were a total of 21 milion bitcoins to be mined, and on the last 7 years, several people had lost their bitcoin, soo the quantity its already lower then 21 milion, maybe there is now around 20 milion bitcoin just.

There has already been a research that showed that more then 5 million coins were already lost.

Although I think that in the future we will be able to recover those lost coins from the first wallets, as they are unsafe and we will probably be able to release the funds through a hard fork or something, or even a quantom computer will be able to hack the private key

no that won't be possible ever. a lost coin is a lost coin and you have no way of knowing if it is lost or someone's cold storage. just because it is not touched you can't call it lost.

and about quantum computer i have to say we are ages away from that day but when something like that happens we will be long on another more secure type of private keys invalidating all the previous ones!

Those bitcoin will be still as alive and never burn it was not lose but never use it again because some holders of bitcoins forgot their bitcoin.. and some other bitcoin users send it for a wrong address it doesn't mean those coins are lose but it still alive because it can not affect the value. and the price won't never be crash because of this..
So there is no quantity will go down this is not the same as altcoin that every year there is total of altcoin burned in order to increase the value of every each of coin..

Red-Apple

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Quote from: Liad.Services on November 10, 2016, 08:08:43 AM

Quote from: Doamader on November 10, 2016, 07:55:33 AM

In the begining there were a total of 21 milion bitcoins to be mined, and on the last 7 years, several people had lost their bitcoin, soo the quantity its already lower then 21 milion, maybe there is now around 20 milion bitcoin just.

There has already been a research that showed that more then 5 million coins were already lost.

Although I think that in the future we will be able to recover those lost coins from the first wallets, as they are unsafe and we will probably be able to release the funds through a hard fork or something, or even a quantom computer will be able to hack the private key

no that won't be possible ever. a lost coin is a lost coin and you have no way of knowing if it is lost or someone's cold storage. just because it is not touched you can't call it lost.

and about quantum computer i have to say we are ages away from that day but when something like that happens we will be long on another more secure type of private keys invalidating all the previous ones!

Liad.Services

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Quote from: Doamader on November 10, 2016, 07:55:33 AM

In the begining there were a total of 21 milion bitcoins to be mined, and on the last 7 years, several people had lost their bitcoin, soo the quantity its already lower then 21 milion, maybe there is now around 20 milion bitcoin just.

There has already been a research that showed that more then 5 million coins were already lost.

Although I think that in the future we will be able to recover those lost coins from the first wallets, as they are unsafe and we will probably be able to release the funds through a hard fork or something, or even a quantom computer will be able to hack the private key

Doamader

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In the begining there were a total of 21 milion bitcoins to be mined, and on the last 7 years, several people had lost their bitcoin, soo the quantity its already lower then 21 milion, maybe there is now around 20 milion bitcoin just.

rajasumi2

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Never does it goes down
-EVERYSAY MINING makes it nore and more bitcoins in the evert day life
-due to salr paenls also the bitcoins are increasing day by day .thats a very good thing btw
Bitcoin can be exchanged and ur question is confusing so please elaborate it vastly .
KudoosKudoos

Tyrantt

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Need some spare btc for a new PC

I remember some dude that had around 30k of bitcoins on his HDD wallet and later he threw it away and when the price jumped to .13k in 2013 he tried digging all over the junk yard and home in hope of finding it, but he didn't . So, that bitcoin is lost forever, just it's not some great number of btc to affect the maximum number of bitcoin that can be mined.

Liad.Services

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Overall,yes.
Bitcoin supply is planned to get lower as years are passing,because some private keys of addresses that contains bitcoins are getting lost over the time by people who just forgot about their wallet,lost their private key, or were just dead and got their bitcoins lost.

Everytime a bitcoin is being lost it is a pure benefit to the community as it makes less bitcoins in circulations which will always make the price go higher.

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