Topic: Creating more bitcoin - page 3. (Read 1201 times)
from what I know it looks like the number of Bitcoins won't be added anymore, because it can't be added then HARDFORK is done, this is the reason why Bitcoin Cash, Bitcoin Diamond, Bitcoin Gold appear.. it seems, this has been discussed on various topics.
Is there anything to stop the core devs saying we want unlimited bitcoin and changing the code to allow it. I mean, 21 million isn't much. 
Bitcoin is a digital currency that became popular in 2013. This currency is not controlled by banks or other institutions.
But it is controlled by the devs that write the code that implements it. Don't kid yourself it came out of thin air and magically looks after itself. All a fork is, is someone who writes the code thinking they have a better way of doing it.
They manage the code but nothing is implemented without consensus so their "control" has a check at the moment.
Code changes are very slow and methodical at the moment. There is a reason for that.
That is why BCH and BSV went on their own way, they wanted bigger blocks and the 'core' could not come to an agreement.
I do not think that someone in the near future will create more bitcoins. If it becomes necessary, it is possible in the future. From a technical point of view, this is quite possible, but the bigger question is whether this is necessary and who wants it.
I mean, 21 million isn't much.
Being limited is always good, and that's what i think of bitcoin. As a limited edition coins.7.7 billion people in the world and 21 million bitcoin. You do the maths. That would be 0.002 btc each not counting whales and lost bitcoins, so probably a lot less than that. That only gives you a few decimal places to play with. If you actually want people to use bitcoin, then you need to make sure there is enough to go round.
its eight decimal places now. that can easily be extended to 16 (or whatever) or more decimal places as needed. so, no need for more than 21 million. just add more decimal places.
Is there anything to stop the core devs saying we want unlimited bitcoin and changing the code to allow it. I mean, 21 million isn't much.
Bitcoin is a digital currency that became popular in 2013. This currency is not controlled by banks or other institutions.
But it is controlled by the devs that write the code that implements it. Don't kid yourself it came out of thin air and magically looks after itself. All a fork is, is someone who writes the code thinking they have a better way of doing it.
I mean, 21 million isn't much.
Being limited is always good, and that's what i think of bitcoin. As a limited edition coins.7.7 billion people in the world and 21 million bitcoin. You do the maths. That would be 0.002 btc each not counting whales and lost bitcoins, so probably a lot less than that. That only gives you a few decimal places to play with. If you actually want people to use bitcoin, then you need to make sure there is enough to go round.
Is there anything to stop the core devs saying we want unlimited bitcoin and changing the code to allow it. I mean, 21 million isn't much.
Bitcoin is a digital currency that became popular in 2013. This currency is not controlled by banks or other institutions. Decentralized currencies are designed to accept our money to make a profit. But how do digital currencies work? How can this currency apply if no one can say they save it.
Bitcoin consists of three parts, namely: block chain, mining network, and wallet. To be able to understand how Bitcoin works, we must understand how each part works. One of them is the people who mine Bitcoing (miners), are people who request old transactions and ensure new transactions are accepted. Their job is to make (or mine) new blocks. This block saves new transactions that occur. As compensation for mining these new blocks, they are given some Bitcoin. Incentives like this ensure people are sufficient to mine so that the Bitcoin network system continues.
How is 21million not too much? Nothing on earth is limited my friends, except the continuous printing of fiat currencies by governments.
Besides, the limit is what makes bitcoin valuable and inflation proof.
The only time it will be reasonable to remove the limits is if bitcoin price becomes artificially stable permanently.
Circulating supply of bitcoin is already enough and if ever creation of additional bitcoin supply may only leads to price drastic change and it will make bitcoin's value become cheaper as there are already lot of market supply. The lesser the supply the more its price climb higher.Besides, the limit is what makes bitcoin valuable and inflation proof.
The only time it will be reasonable to remove the limits is if bitcoin price becomes artificially stable permanently.
Unlimited number of bitcoin is bad, it won't make bitcoin a good investment.
bitcoin is not an investment so your argument here is completely wrong since the creation of bitcoin and the decision about its supply had nothing to do with making in a good or bad investment. the only reason for that cap and the value chosen (21 million) is to prevent bitcoin from becoming an inflationary currency like other currencies in existence.
Unlimited number of bitcoin is bad, it won't make bitcoin a good investment.
Bitcoin has only a total of 21 million supply, but we are not transaction in 1 whole Bitcoin here, as the price is increasing the value in sats will also increase.
Soon in the future, even if we transact per sats, it would still enough to cover the demand of bitcoin.
No need for a change of supply as it's not bitcoin anymore.
Bitcoin has only a total of 21 million supply, but we are not transaction in 1 whole Bitcoin here, as the price is increasing the value in sats will also increase.
Soon in the future, even if we transact per sats, it would still enough to cover the demand of bitcoin.
No need for a change of supply as it's not bitcoin anymore.
because of limitations it makes bitcoin very valuable.
yes, that in my opinion, because there are only 21 million, bitcoin is very sought after.
I think if bitcoin is unlimited and can be even more likely, bitcoin will be less popular and can be replaced by other coins to master crypto.
so, because of limitations, it makes bitcoin special and is sought after by many people.
yes, that in my opinion, because there are only 21 million, bitcoin is very sought after.
I think if bitcoin is unlimited and can be even more likely, bitcoin will be less popular and can be replaced by other coins to master crypto.
so, because of limitations, it makes bitcoin special and is sought after by many people.
When the number goes out of control, Bitcoin will immediately lose its value, collapse quickly based on supply-demand rules. That will cause users to lose faith in it, creating disintegration of market 
.
.
If the developers do not, then there are reasons. It is not profitable to increase the number of bitcoins, because then its value will fall. Nobody wants that.
I mean, 21 million isn't much.
How much do you own if 21 Million of bitcoins is not much sir? Being limited is always good, and that's what i think of bitcoin. As a limited edition coins.
You should pay higher price if you want to own or get something limited.
How is 21million not too much? Nothing on earth is limited my friends, except the continuous printing of fiat currencies by governments.
Besides, the limit is what makes bitcoin valuable and inflation proof.
The only time it will be reasonable to remove the limits is if bitcoin price becomes artificially stable permanently.
Besides, the limit is what makes bitcoin valuable and inflation proof.
The only time it will be reasonable to remove the limits is if bitcoin price becomes artificially stable permanently.
I wish we can create arbitrary the values, but lol if that were the case, satoshi won't be famous :-)
wasn't this mainly FUD? a tweet talking about ifs and buts is barely evidence of someone wanting and pushing for more supply.
bottom line is that all the arguments about supply belongs to year 2100+ and we are talking about something that is not going to be an issue for at least 80 years and that is IF it becomes an issue!
bottom line is that all the arguments about supply belongs to year 2100+ and we are talking about something that is not going to be an issue for at least 80 years and that is IF it becomes an issue!
We should start discussing making Bitcoin inflationary when there will be signs that the network has not enough security - that fees alone are not enough to get enough PoW to deter attacks. This means that it might never happen, because fees will be enough, and there will be no big threats, or maybe it will happen in hundreds of years from now. We'll probably have a new generation of both developers and users by that time, and decades of history of PoW cryptocurrency to provide evidence for making a good decision.
OMG!!
What a clueless "senior"
It doesn't matter how many bitcoins there are. It matters how they are released. Less bitcoin just means a higher price. More bitcoin will be a lower price. It is just ratio. Why is 21m not a lot? if there were 42m then you would just pay 2btc for something that was 1btc. If there were 11m in total you would pay 0.5btc and not 1btc.
What a clueless "senior"
It doesn't matter how many bitcoins there are. It matters how they are released. Less bitcoin just means a higher price. More bitcoin will be a lower price. It is just ratio. Why is 21m not a lot? if there were 42m then you would just pay 2btc for something that was 1btc. If there were 11m in total you would pay 0.5btc and not 1btc.
The market will be diluted, in other words it may be seriously devalued when we create more bitcoin, this is absolutely not recommended.
There is something that says that we can not create more than 21 000 000 Bitcoins. It is the difficulty. The computing power increases with time linearly, while the bitcoin difficulty increases exponentially. This is the what gives the price increase of the Bitcoin.
At some moment in time in the future it will become very, very difficult to create the bitcoin.
At some moment in time in the future it will become very, very difficult to create the bitcoin.
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