Can the volume of coins be increased? - page 3.

Anfisman

full member

Activity: 140

Merit: 100

Quote from: SocialClooud on September 27, 2017, 08:23:40 AM

I heard that many people lose their coins and the current volume of BTC is not current at all)
How do you think will Satoshi add some in future?

Many things will happen if the volume of bitcoin in circulation is currently improved, one of which is the decline the bitcoin prices. of course if increased bitcoin volume will have a positive and negative impact, but jike does allow me to also want to increase the volume of bitcoin because the current volume of bitcoin that's very thinning and may decrease over time, so it is necessary to add volume to bitcoin, and maybe Satoshi will take care of this matter right away.

Shinigami78

newbie

Activity: 34

Merit: 0

it may happen but if it really happens it will lower the btc value than it is now.

btcney

hero member

Activity: 588

Merit: 500

Quote from: SocialClooud on September 27, 2017, 08:23:40 AM

I heard that many people lose their coins and the current volume of BTC is not current at all)
How do you think will Satoshi add some in future?

If you are asking about whether or not the amount of bitcoin in circulation can be increased then yes. This is done through mining. Right now, each mined block will reward you with 12.5 BTC newly created bitcoins and that's essentially how new bitcoins are generated on the network.

However, every 4 years the amount halves. So the amount will never be able to exceed 21 million bitcoins in total.

Later on when block rewards are low, potentially the amount of lost coins could outweigh the amount of bitcoins generated, meaning that bitcoin becomes deflationary.

Yuuto

hero member

Activity: 644

Merit: 501

Quote from: SocialClooud on September 27, 2017, 08:23:40 AM

I heard that many people lose their coins and the current volume of BTC is not current at all)
How do you think will Satoshi add some in future?

Not sure what your question exactly is, but i'm assuming that you're talking about the number of bitcoins available in circulation.

Yes. Coins do get lost in cyberspace every single day because of the fact that people may often be careless with their private keys/wallet recovery seeds. This leads to the inflation rate actually being less than the actual inflation rate set by the protocol, since losing coins equals deflation and offsets some of the inflation.

There is a hard cap on the number of coins available, ever. Which is 21 million. We cannot change this, unless a hard fork is done, which i doubt many people will follow at all.

Marileno

full member

Activity: 214

Merit: 101

✔ Crypto portfolio | ✔ Telegram/APP

All reports at this stage indicate that there is no capacity to increase the pool from 21 million. It is irrelevant though as fractions down to ridiculous levels are possible so it is all aesthetics. I'd like to hear views as to why a larger volume count would affect the price.

btctousd81

sr. member

Activity: 434

Merit: 270

nope, that is hardcoded in the program/protocol i gess.

if btc supply increases, then its value decreases.

if amount is fixed, then btc value increases.

betudontbet

sr. member

Activity: 406

Merit: 250

Quote from: SocialClooud on September 27, 2017, 08:23:40 AM

I heard that many people lose their coins and the current volume of BTC is not current at all)
How do you think will Satoshi add some in future?

Unless long time bag holders start to dump their coins that's not gonna happen, I think later these coins will be around but is not the correct time, bitcoin is still not high amount.

PRIMEBOSS

newbie

Activity: 42

Merit: 0

yes. we are new to it so we will first to know about it. Then we will get some information about it. Satoshi of course will add something about it in future we are waiting about it. Since the volume in recent days are less as compared to previous.

Emoclaw

sr. member

Activity: 420

Merit: 251

Quote from: SocialClooud on September 27, 2017, 08:23:40 AM

I heard that many people lose their coins and the current volume of BTC is not current at all)
How do you think will Satoshi add some in future?

Satoshi has nothing to do with Bitcoin anymore.
It's probably for the best because he would be seen as a leader, which is something that Bitcoin isn't meant to have.

No coins should or will be added. That's what makes Bitcoin good. It's deflationary.

Bluestreet

legendary

Activity: 988

Merit: 1000

Quote from: SocialClooud on September 27, 2017, 08:23:40 AM

I heard that many people lose their coins and the current volume of BTC is not current at all)
How do you think will Satoshi add some in future?

The cap on maximum number of bitcoins can be increased but it will not be satoshi who increases the cap it will be the developers team, all they have to do is change the source code but by doing so there are chances of people leaving bitcoin as the main reason i use bitcoin is that it have a hard cap on maximum number of coins mined.

HabBear

hero member

Activity: 1106

Merit: 638

Quote from: SocialClooud on September 27, 2017, 08:23:40 AM

I heard that many people lose their coins and the current volume of BTC is not current at all)
How do you think will Satoshi add some in future?

Satoshi likely wouldn't, but core developers could. If they did, though, they'd risk people abandoning bitcoin.

One of the fundamental principles of Bitcoin is the finite money supply. That feature is what makes the currency gain spending power, rather than lose spending power as is prevalent in today's fiat currencies. A major reason why fiat currencies lose spending power is because the central bank controlling the currency can increase the money supply.

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: SocialClooud on September 27, 2017, 08:23:40 AM

I heard that many people lose their coins and the current volume of BTC is not current at all)
How do you think will Satoshi add some in future?

it is not called volume it is called cap or maximum number of coins to be mined.
and the amount that people lose or have already lost is not that much to cause any concern yet to warrant increasing that cap.
also bitcoin is not centralized like other things you may know so Satoshi can not do anything about that. it is the whole network that should decide something like that in a hard fork if needs be.

Wind_FURY

legendary

Activity: 2898

Merit: 1823

Quote from: SocialClooud on September 27, 2017, 08:23:40 AM

I heard that many people lose their coins and the current volume of BTC is not current at all)
How do you think will Satoshi add some in future?

Not sure if you're serious. It is impossible to add the current cap of the total no. of Bitcoins, unless there was a hard fork. You should know this.

But if ever there was a proposal or something, I do not think it would have enough backing from the community. The proposal would undoubtedly be ridiculed.

BCMB

member

Activity: 84

Merit: 10

Quote from: SocialClooud on September 27, 2017, 08:23:40 AM

I heard that many people lose their coins and the current volume of BTC is not current at all)
How do you think will Satoshi add some in future?

How would Satoshi add more? It is hardcoded into the software. It would require a fork, and for miners/users to start using that fork.

acyclic

newbie

Activity: 17

Merit: 0

No, it would break the consensus rules, the founding principle and the community consensus.

Anddddd

It's totally unneccesary since a bitcoin is divisible by 100,000,000. So if we get more people we can easily support selling them some and everybody has plenty of "satoshis" to spend. (A satoshi is 100,000,000th of a bitcoin). This way existing holders don't have to worry about inflationary coin generation making their coins worthless. It is ONE of bitcoins best feature.

Cindy1983

full member

Activity: 196

Merit: 100

I hope not cause if Satoshi changes the total supply amount of Bitcoin it'll change everything. The price of Bitcoin will dumped very quickly, the number of Bitcoin miner will decrease of course and after that Bitcoin will not stand at the 1st place of the coinmarket anymore cause their value has been changed. For me, it'll be really bad cause I'm holding my Bitcoin and waiting Bitcoin price reach to 10k$ so if Satoshi does it, I'll lose a lot of money Sad

BurstIncomeAsset

hero member

Activity: 504

Merit: 512

They are every day.
With every block new coins are mined and are available out of nothing, so the supply of bitcoins running dry is not a concern for the near future.

Ch1bi

full member

Activity: 289

Merit: 100

The circulating supply of Bitcoin can be increased. This can happen as more people spend their coins, and as more coins are mined. However the overall amount of coins that will be created cannot be increased as its capped at 21 million. This is how Bitcoin was created and won't change.

albert11

hero member

Activity: 679

Merit: 500

So far the total supply of Bitcoins is 21 Million. And as long as it reduces the Bitcoins value to the point that it can no longer be purchased. So, if many people buy it, the price increases. And as you say if it can be added I think it is not possible. Because if it increases the value of bitcoins due to increased supply and bitcoins will be cheap. This is because of the addition of supply

helars2008

full member

Activity: 210

Merit: 100

One of the reasons why bitcoin becomes so expensive right now is because of its finite number. A limited number of bitcoins in circulations really makes it more valuable since there will always be a limited supply for the increasing numbers of bitcoin investors. Increasing the number of coins is not possible and highly ill advised, it would always be better to just divide what is already available than to add a coin and cause chaos.

Topic: Can the volume of coins be increased? - page 3. (Read 1092 times)