Interesting, guess its kind of a good thing who knows how much 1 bitcoin may be worth in 5-10 years.
Yeah, could be 0, don't forget.
Topic: Can new bitcoins be created - page 2. (Read 1393 times)
Yeah, could be 0, don't forget.
Interesting, guess its kind of a good thing who knows how much 1 bitcoin may be worth in 5-10 years.
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Hey guys, topic says it all,
Can new bitcoins be created after the 21 million Bitcoin cap is reached? Im looking 50 years down the road, won't bitcoins be to scarse for a world internet economy?
I get the feeling the nature of your question is more about "how do we make bitcoins after they've all been mined?". If that's so, even after 99.99999999% of new coins cease to be created, miners will still be earning the coins used for transaction fees, which as I understand it, would cause the free market to increase the fees lest miners stop mining and bitcoins become less dependable and secure. Can new bitcoins be created after the 21 million Bitcoin cap is reached? Im looking 50 years down the road, won't bitcoins be to scarse for a world internet economy?
Hey guys, topic says it all,
Can new bitcoins be created after the 21 million Bitcoin cap is reached? Im looking 50 years down the road, won't bitcoins be to scarse for a world internet economy?
Can new bitcoins be created after the 21 million Bitcoin cap is reached? Im looking 50 years down the road, won't bitcoins be to scarse for a world internet economy?
Absent a total breakdown of the protocol, yes it could be done, but you need an overwhelming degree of agreement amongst current users of bitcoin.
Not original bitcoins on this protocol, no. 21 million (actually it's 20.999.999,97something I think to be pedantic) is a hard limit.
However, each and every 'bitcoin' (they're not actually coins, it's just a name!) is divided into 100 million 'satoshi', which ought to be enough. And if, by some miracle, by Jove! one single satoshi ever has any noticeable value, the blockchain may be so busy that a lot of bitcoin accounting will be done internally on separate systems away from the blockchain itself (as can already happen with any Bitcoin business or exchange, e.g. Mt Gox), and in that instance they can account in sub-satoshi units privately, e.g. nBTC, pBTC, whatever.
However, each and every 'bitcoin' (they're not actually coins, it's just a name!) is divided into 100 million 'satoshi', which ought to be enough. And if, by some miracle, by Jove! one single satoshi ever has any noticeable value, the blockchain may be so busy that a lot of bitcoin accounting will be done internally on separate systems away from the blockchain itself (as can already happen with any Bitcoin business or exchange, e.g. Mt Gox), and in that instance they can account in sub-satoshi units privately, e.g. nBTC, pBTC, whatever.
Hey guys, topic says it all,
Can new bitcoins be created after the 21 million Bitcoin cap is reached? Im looking 50 years down the road, won't bitcoins be to scarse for a world internet economy?
Can new bitcoins be created after the 21 million Bitcoin cap is reached? Im looking 50 years down the road, won't bitcoins be to scarse for a world internet economy?
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