Can bitcoin quantity go down? - page 6.

wxa7115

hero member

Activity: 2814

Merit: 734

Bitcoin is GOD

Quote from: groll on October 24, 2016, 03:27:53 AM

Quote from: croutonhexagon on October 23, 2016, 11:41:17 PM

Quantity can't go down but usability could go down, here i explain why.
Suppose you have 1btc and you forgot your wallet password and even your private key if your wallet so can you access back to your account. Obviously your money will get locked and never in your lifetime you could use that amount and that amount will be there still in your wallet and in Byron network but it's not usable.

Actually bitcoins quantity can go down. Well it has happened before. There are many bitcoins that has been stored in hardwares and other storage and it was damaged, lost was thrown out and that has caused the number of bitcoin to decrease. The problem with hardwares and saving bitcoin on desktop wallet or in a usb if anything happens like damage to computer and hard drive may cause losing your bitcoins and it will affect the total bitcoins in circulation.

But that does not lower the amount of bitcoins at all, what that does is those coins will never be spent, but we have no way to know if someone lost access to his wallet or if he is just letting his coins sit idly.

clickerz

hero member

Activity: 1414

Merit: 505

Backed.Finance

Quote from: FoxyBit on September 30, 2016, 06:25:20 AM

There are two tables, one shows the live bitcoin price in various currencies. For example:

Dollars US$601.01
Euros E 541.06
...

The second table, is 'My Balance'. For example:

Bitcoin 0.5
Dollars 300.50

And since the start of the thread, the quantity of bitcoins has gone up by 0.00000224.

I think your currency is in dollar that is why the bitcoin value is fluctuating. This is the possible scenario, since your currency is in dollar, your possible bitcoin value is displayed. When exchange rate changes, so is your possible bitcoin value and vice versa if your currency is in BTC, your possible dollar value will fluctuate depends on btc exchange price.

Mastsetad

sr. member

Activity: 672

Merit: 250

Quote from: Ayers on October 24, 2016, 11:08:29 AM

from the look of your post it seems simply that your balance is fluctuating and not your coin, i think there was some confusion in your question asked to the support of bluetrade, unless you are also trading and you are losing some portion of your coin on fees

He would probably know the fees of trading if he is trading from some time but i guess his coins are decreasing maybe because he is buying higher and selling them quite lower maybe, or if he is just not trading and still the amount is decreasing then there must be a problem in the exchange.

Ayers

legendary

Activity: 2590

Merit: 1022

Leading Crypto Sports Betting & Casino Platform

from the look of your post it seems simply that your balance is fluctuating and not your coin, i think there was some confusion in your question asked to the support of bluetrade, unless you are also trading and you are losing some portion of your coin on fees

20kevin20

legendary

Activity: 1134

Merit: 1599

No, the quantity cannot go down because that would mean our wallets being shrunk down. The price can, so can the popularity of it. Quantity will ONLY go up. If it stands still, we will know it's the end of Bitcoin.

Xenophoto

hero member

Activity: 826

Merit: 502

The number of bitcoins in circulation can go down but the total number of bitcoins cannot go down. It will only increase because of the miners. The number of bitcoins in circulation will reduce from time to time because some bitcoiners forget their password, loses their private keys, or maybe faces death which obviously wouldn't allow him to use the computer anymore. But if OP was asking if his bitcoins will go down, no it will not. It will remain the same unless you spend it.

groll

sr. member

Activity: 336

Merit: 250

Quote from: croutonhexagon on October 23, 2016, 11:41:17 PM

Quantity can't go down but usability could go down, here i explain why.
Suppose you have 1btc and you forgot your wallet password and even your private key if your wallet so can you access back to your account. Obviously your money will get locked and never in your lifetime you could use that amount and that amount will be there still in your wallet and in Byron network but it's not usable.

Actually bitcoins quantity can go down. Well it has happened before. There are many bitcoins that has been stored in hardwares and other storage and it was damaged, lost was thrown out and that has caused the number of bitcoin to decrease. The problem with hardwares and saving bitcoin on desktop wallet or in a usb if anything happens like damage to computer and hard drive may cause losing your bitcoins and it will affect the total bitcoins in circulation.

croutonhexagon

full member

Activity: 238

Merit: 100

Quantity can't go down but usability could go down, here i explain why.
Suppose you have 1btc and you forgot your wallet password and even your private key if your wallet so can you access back to your account. Obviously your money will get locked and never in your lifetime you could use that amount and that amount will be there still in your wallet and in Byron network but it's not usable.

marleybobthedog

full member

Activity: 210

Merit: 100

No, how's it possible. Bitcoin is not printed like other paper currencies and there do fear of wetting, tearing, our writing on the note and destroying the currency. It is just a number which is stored online and on other storage media. But well if someone forget wallet password or private key then obviously he will have no access to his money and that amount will become useless and stsy forever in his wallet thus is the loss we can suffer but still the quantity will remain the same.

Doamader

hero member

Activity: 756

Merit: 501

Op has already someone said if the funds were without being invested into anything, margin or lending or even trading, never could happen change the ammount of bitcoin or altcoin you do have, just their value changes daily, if the exchange you present is taking your coins just leave it before it turns into scam.

naidray

legendary

Activity: 1232

Merit: 1029

Quote from: Hugroll on October 22, 2016, 09:31:30 AM

if you are talking about your bitcoin balance on the exchange, no it should not go down. but if you are talking about the overall amount of bitcoins that exist and are accessible. that can go down because people lose access to their coins quite often.

Oh! do yo mean that if someone loose access to his key the bitcoin amount associate with address is gone forever and will reduce the quantity of bitcoin ?
I have never thought of that, I was thinking that the person will just lose the coin but the quantity of bitcoin will not reduce. Maybe controllable amount of bitcoin may decrease but all 21 million bitcoin will stay within bitcoin addresses only.

ObscureBean

legendary

Activity: 1148

Merit: 1000

Quote from: FoxyBit on September 30, 2016, 07:22:20 AM

Quote from: Lauda on September 30, 2016, 07:18:38 AM

Quote from: FoxyBit on September 30, 2016, 06:25:20 AM

There are two tables, one shows the live bitcoin price in various currencies. For example:

Dollars US$601.01
Euros E 541.06
...

The second table, is 'My Balance'. For example:

Bitcoin 0.5
Dollars 300.50

And since the start of the thread, the quantity of bitcoins has gone up by 0.00000224.

It seems to me like the balance on that exchange is kept in USD, and not in Bitcoin. Therefore, your balance tends to increase or decrease based on the price in USD. I can't be completely sure though. Something isn't right with that exchange.

Okay. Well thanks to all for your help and explanations. Things are a little clearer now

Any suggestions of an exchange that I can use as an alternative?

I take it you're looking for an exchange where you can trade altcoins like on Bleutrade? Personally, I've always liked Bittrex, I've tried a number of exchanges but always end up going back to Bittrex. I've never had any problems there, support is good and deposits/withdrawals are processed reasonably fast. Poloniex is also very good.

virusasog

sr. member

Activity: 462

Merit: 250

Quote from: tabas on October 22, 2016, 05:51:17 PM

Bitcoin's quantity is destined to be limited to 21 million and that is not going to go down. Unless there are a lot of bitcoins who are stored in the hard wallets and have been misplaced for some place that you can't even remember and that is going to make the quantity of bitcoins down in the economy, but for the total, it won't.

I am not aware of limit of the bitcoins. But I am sure usage of bitcoins will not be same in the future and as mining get reduce every halving. Bitcoin may a stuck in here and there.

Mr.grin

legendary

Activity: 1218

Merit: 1000

of course bitcoin quality may decline at any time. if the price fell below bitcoin hundreds of dollars, most likely, the interest that people have to have a bitcoin will decrease, thus making many people trade bitcoin they have become dollars. it would make the quality of bitcoin be dropped, and the possibility of a lot of people back looking altcoin higher than bitcoin

Harlot

hero member

Activity: 1806

Merit: 672

With my experience from exchanges I got to realize fees I don't know. A lot of them are hidden fees or fees I have not read across in their charges. That is how they make their money from fees they charged you everytime you use their services, of course it is needed for the site to be fully operational daily. My advise for you bro if that continues to happen withdraw your bitcoin from the exchange and read the chrage and fees section for your to understand.

genos

hero member

Activity: 574

Merit: 500

Any store can buy, sell, and accept Crypto

Quote from: tabas on October 22, 2016, 05:51:17 PM

Bitcoin's quantity is destined to be limited to 21 million and that is not going to go down. Unless there are a lot of bitcoins who are stored in the hard wallets and have been misplaced for some place that you can't even remember and that is going to make the quantity of bitcoins down in the economy, but for the total, it won't.

You are right. Bitcoin is limited to 21 million. But in other case if someone safe their money in wallet and then he /she forget the password the amount of bitcoin that can be used is decrease. But bitcoin can divide into 8 decimals so each number of bitcoin is very very worthed in the future. It is better than if there is inflation in bitcoin.

tabas

hero member

Activity: 3234

Merit: 774

🌀 Cosmic Casino

Bitcoin's quantity is destined to be limited to 21 million and that is not going to go down. Unless there are a lot of bitcoins who are stored in the hard wallets and have been misplaced for some place that you can't even remember and that is going to make the quantity of bitcoins down in the economy, but for the total, it won't.

dihari

hero member

Activity: 910

Merit: 525

I am angered what happened with bitcoin lose. We can imagine, people with huge amount of bitcoin save bitcoin on usb, and they broke or lose it. Is bitcoin quantity is go down?

KingdomHearts

hero member

Activity: 896

Merit: 514

no bitcoin quantity will be never go down because bitcoin are going to more stronger and bitcoin adoption are going to more increasing day by day and i hope that bitcoin will get more stronger in the future .

Cryptogott

newbie

Activity: 48

Merit: 0

He is probably talking about margin lending on poloniex. If any sharp movements happen on the market, you can lose bitcoins...

Topic: Can bitcoin quantity go down? - page 6. (Read 5450 times)