If bitcoin is overpopulated how will it stop to limit the users? - page 2.

MakLampir

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Quote from: jseverson on March 14, 2018, 09:49:56 PM

Who says "overpopulation" is a bad thing? The goal is to have everyone use Bitcoin, so such a concept shouldn't even exist. More users is better, and there's no upper limit.

That being said, it could be a problem now because of scalability issues. Even then, overpopulation isn't the problem -- scalability is. Rather than limiting how many people should be using Bitcoin, we should be increasing Bitcoin's capacity to cater to more people.

I agree, rather than having to limit users bitcoin should find a way to further improve stability for a time, if the bitcoin users are increasing, it will not be a hassle.
preparing empty seats for new passengers Wink

bhabygrim

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Bitcoin would never be overpopulated it has been created for everyone to be used,
And bitcoin is ready for it that is why bitcoin could be divided into a small fraction (Sats or Satoshi).

Prodigan786

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Quote from: potatocrasher69 on March 14, 2018, 09:40:03 PM

How bitcoin will prevent overpopulation?

Still i dint understand purpose of your question . But based on my understanding if more people start to consume bitcoin with limited supply 21 million . then obiviously bitcoin demand and price will increase . I may reach moon even mars then Sun also.

josephpogi

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Quote from: potatocrasher69 on March 14, 2018, 09:40:03 PM

How bitcoin will prevent overpopulation?

Yeah maybe we think that we are overpopulated now and that is why bitcoin forum has a merit system and more strict rules on campaigns. I noticed that there are many new users here on forum after a stunning performance year of cryptocurrency last year. Merit system will help this forum to control the number of campaign participants since we have thousands of member here.

dewi91

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Quote from: Gategold on March 14, 2018, 10:23:29 PM

Quote from: potatocrasher69 on March 14, 2018, 09:40:03 PM

How bitcoin will prevent overpopulation?

Not all people are agree with the idea about bitcoin now, many bad news about bitcoin thats spread. I am very sure it will not be happen. Also, for peo0le who already rich then they are actually don't have to invest in risky investment such as bitcoin.

I think all Investment have a risk, eventhough bitcoin is risky but a lot of people still interested to Invest their money in bitcoin including rich people because everybody know bitcoin as a promising Investment and bitcoin price can increase rapidly.

St4yInTh3D4rk

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"STAY IN THE DARK"

Quote from: darrly on March 15, 2018, 12:02:03 AM

The admin of this forum has already done so many ways to prevent overpopulation. One of those is when creating an account the is already a proxy ban wherein you will need to pay for it. Another one is the merit system it give people a hard time to rank up so more likely they will become lazy.

Why we need to control the people from entering into bitcointalk?

It was meant for all the people who wanted to know about bitcoin and other cryptos so admin don't want to restrict the new users.The IP ban is the reduce the alt account creation and the merit system is to restrict the signature spammers who don't know anything about cryptos just filling their weekly quota of posts to getting paid.

darrly

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The admin of this forum has already done so many ways to prevent overpopulation. One of those is when creating an account the is already a proxy ban wherein you will need to pay for it. Another one is the merit system it give people a hard time to rank up so more likely they will become lazy.

MintDice

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Merit: 46

I don't think being overpopulated is the concern, but I see what you mean. I think the real concern right now as others have mentioned is scaleability. If a way to increase the processing amount and speed of transactions is implemented, along with reasonable fees, then we might see btc being adopted as more of a mainstream currency--one that is available for use in a variety of everyday purchases for MORE people. The whole purpose of btc was to give financial freedom to the public, I don't believe there was a limit to the number of people in that initial thought.

Kevin112

newbie

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Bitcoin will not stop to limit its users, it's actually trying to lure more users.

Bitcoin's inventor Nakamoto set a monetary policy based on artificial scarcity at bitcoin's inception that there would only ever be 21 million bitcoins in total. Their numbers are being released roughly every ten minutes and the rate at which they are generated would drop by half every four years until all were in circulation.

If more and more people are using Bitcoin while it has reached its full supply --> the price of Bitcoin will be shockingly high due to scarcity.

At that time, we need to look for other options. It could be accepting transactions using other coins or tokens.

Astermony

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Quote from: toorn on March 14, 2018, 09:45:23 PM

I think that Bitcoin has not yet developed enough to consider the problem of overpopulation. It is still developing. It needs more people to support rather than start restricting the flow of people.

I agree, bitcoin is still in the process of developing. It's good to have a large number of people in bitcoin because it shows that bitcoin is trustworthy. But when a problem occur because of the bundle of people then it is the time to make an action to solve it.

brio18

newbie

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overpopulated why should be worried? I think more and more users will get better for bitcoin development. There is still more room for growth so they definitely need more people to support development. I think even if all bitcoin are mined, they will not get into trouble about the advantages of users as it can support it.

Theb

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In simple economics there is no such thing as over-demand (if that's what you mean by overpopulation) as it is always about the supply, the supply will always adjust to the demand whether it is oversupply or undersupply the factor that will determine it is the demand. With Bitcoin being a fixed supply and the demand is increasing with new users entering and buying Bitcoin there is no where to go but for its to price increase or make it more volatile as the market participation is also increasing. The demand simply cannot be change as we cannot control people who are and who aren't entering the cryptocurrency market particularly the Bitcoin market, simply put it this way as being out of our hands.

leland orser

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Why does bitcoin limit the use of people?
If more and more people are using bitcoin, so the value of the bitcoin will be bigger and bigger, and slow the bitcoin transfer problems still exist at present, the electrical network can change all that.

jpespa

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I don't think there are ways to limit the users. Since bitcoin is decentralized everyone can have it. If overpopulation occurs, there will be huge effect in the price of bitcoin since the supply of bitcoin is just limited. The price may skyrocket again as well as the fees because of the large demand.

St4yInTh3D4rk

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Quote from: potatocrasher69 on March 14, 2018, 09:40:03 PM

How bitcoin will prevent overpopulation?

You are talking about bitcoin or bitcointalk. Roll Eyes

If bitcoin I don't know what is the meaning of overpopulation because bitcoin has liquidity so it can be purchased by anyone in the world the price will get increases if more and more people buying the bitcoin so there is no need to limit the users,let them use bitcoin.

squallw

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More people joining at bitcoi/cryptos is better for us, if bitcoin was restricted for a tiny group, the price would never grow.
But bitcoin needs some improvements to solve scalability problem.
Lightning Network maybe solve this issues.

pooya87

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bitcoin is not a room or a city to become "overpopulated".
and as for the number of users, bitcoin is a currency and it should be able to handle a lot of users. virtually unlimited number but practically limited to the population of the world and in reality it will be limited by the block size.
and sorry to disappoint you but the demand for bitcoin will continue to increase whether you like it or not. and the FUD will go away at some point and bitcoin will be back on track soon.

jtipt

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I'm assuming by overpopulation you mean more people adopt bitcoin. Well more demand for bitcoin is just good for the market, since total available BTC will never be greater than 21M more demand will cause huge price surges.

Quote from: jseverson on March 14, 2018, 09:49:56 PM

That being said, it could be a problem now because of scalability issues. Even then, overpopulation isn't the problem -- scalability is. Rather than limiting how many people should be using Bitcoin, we should be increasing Bitcoin's capacity to cater to more people.

Yup. Scalability is probably the limiting factor for BTC right now, and more demand for bitcoin is just gonna worsen this issue. Segwit was the first step to solve scalability, and I'm hoping lighting network is the second.

Gategold

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Quote from: potatocrasher69 on March 14, 2018, 09:40:03 PM

How bitcoin will prevent overpopulation?

Not all people are agree with the idea about bitcoin now, many bad news about bitcoin thats spread. I am very sure it will not be happen. Also, for peo0le who already rich then they are actually don't have to invest in risky investment such as bitcoin.

Wexnident

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Quote from: jseverson on March 14, 2018, 09:49:56 PM

Who says "overpopulation" is a bad thing? The goal is to have everyone use Bitcoin, so such a concept shouldn't even exist. More users is better, and there's no upper limit.

That being said, it could be a problem now because of scalability issues. Even then, overpopulation isn't the problem -- scalability is. Rather than limiting how many people should be using Bitcoin, we should be increasing Bitcoin's capacity to cater to more people.

Absolutely, I do agree with you sir. I'll never notice that the number of population in bitcoin will cause difficulties or problem to the system. In my own opinion,I thought that bitcoin appears in the market with the purpose of having a broader and wider adoption of a huge number of people therefore the system will be much stabilized and successful. The more demand of people is the more chances of bitcoin to have it's long lasting existence in crypto world.

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