If bitcoin reach it's limit - page 2.

shinratensei_

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Quote from: Amph on June 13, 2016, 02:29:26 AM

if you really think that the current price is even remotely near the limti of bitcoin you ar enot udnerstanding how bitcoin is so small right now

bitcoin does not have limit has long as people are willing to use it as a new global currency instead of trash fiat

That's true, Some people have a statement bitcoin is has a limited on their price. and Why they have this statement?I think they are not understanding, Currency does not have a limit when people want to use it as their currency. Only have 2 optional, the price is always rising or halving.

DannyHamilton

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Quote from: Lauda on June 12, 2016, 02:08:28 PM

Quote from: sana54210 on June 12, 2016, 12:15:36 PM

Hate to break it up to you but bitcoin will never reach it's limit of 21 million coins and there's some kind of a computation for this already in some thread which I'm too lazy to find.

Who says that? Why would it not be able to reach it? 20999999.97690000 should be mined according to the Wiki page, and that is close enough to say that 21 Million will be mined.

There are 100 or so bitcoins (don't remember the exact amount, but it's more than 50 and less than 200 BTC) that are permanently missing due to errors (accidental or intentional) by miners.

Therefore, Bitcoin will fall short by that amount from the theoretical 20999999.9769 limit.

The two main methods by which miners prevented the creation of these bitcoins are:

Creating more than one generation transaction with the exact same hash.
Failing to reward themselves with the full block reward they are entitled to.

Labumi

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It will be very clear. Because the stock or the number of overall is very slight and bitcoin if everyone in the world is using bitcoin it will be extremely limited. And if that is the case then price bitcoin will experience a huge increase and so high.

Amph

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if you really think that the current price is even remotely near the limti of bitcoin you ar enot udnerstanding how bitcoin is so small right now

bitcoin does not have limit has long as people are willing to use it as a new global currency instead of trash fiat

justspare

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There is a seriously long time before Bitcoin reaches it's limit, so you really don't need to worry about it. No one really knows what's going to happen when it reaches its limit, so I guess if you use it now, you will never get to find out.

Indrawan77

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I dont think bitcoin has a limit, the limit is depend on the people who used it, if the user keep on continue to use it then bitcoin wont die and if more people using bitcoin it will affect the price
So the the growth and the limit of bitcoin is depend on the user

Golftech

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the possibility to reach it limits is there but we don't need to worry about that as we will not see that, time would tell demand can change everything so even the coin reaches the limits price will still rely's to us users we can only say that it will drop if all of us dump it and we can only say it will rises up if much more of us uses it and develop more ways to make it usable so no matter what will happen it will always depend on the situation.

groll

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Quote from: Woshib on June 12, 2016, 09:11:38 AM

When the Bitcoin will reach its limit.
And it continued to grow, you think the price of Bitcoin will increase?

I do believe that bitcoin will not reach its limit. I think its impossible right now. With huge money at hand many mining farms have already been popping out. There are also some predictions by experts that America will going to use bitcoin as a currency and that means more powerful hardwares will go out to cater the hungry public. Its still my opinion though.

wintermeasures

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Quote from: Woshib on June 12, 2016, 09:11:38 AM

When the Bitcoin will reach its limit.
And it continued to grow, you think the price of Bitcoin will increase?

what??? bitcoin has a limit? I actually just know today. but I think bitcoin will not reach the limit if there are still people who do bitcoin mining. thank you

shinratensei_

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Quote from: Woshib on June 12, 2016, 09:11:38 AM

When the Bitcoin will reach its limit.
And it continued to grow, you think the price of Bitcoin will increase?

At first,I have a question for you. What's can make you claimed bitcoin have limits. We know bitcoin price is lower than start price for now. Nobody can predict bitcoin have a limit.

7788bitcoin

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Just imagine bitcoin as the current internet network... It's ever growing but it will slow down gradually after gaining most of its popularity and main stream adoption. We are at a very exciting phase of the new growth.

Hirose UK

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Quote from: Woshib on June 12, 2016, 09:11:38 AM

When the Bitcoin will reach its limit.
And it continued to grow, you think the price of Bitcoin will increase?

many people think bitcoin will be here until hundreds of years even there's nothing to be mined, but I'm not really sure when it will reach the limit.

of course the price will increase. you see? now the price is increasing, exactly before halving, so I think it may be higher after halving.

MingLee

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Quote from: bit1 on June 12, 2016, 04:16:08 PM

Quote from: doublemore on June 12, 2016, 09:29:20 AM

Quote from: Woshib on June 12, 2016, 09:11:38 AM

When the Bitcoin will reach its limit.
And it continued to grow, you think the price of Bitcoin will increase?

The internet has still yet to reach its limits, 2 billion users vs 7 billion people. There is a long way to go before bitcoin can reach full potential maybe 20 years would be a conservative estimate, could be longer.

2B is not bad, considering babies, the elderly, people with some kind of disability that makes it impossible to use, so 7 billion sounds too if we consider the above.

Well, maybe. it all depends on what the definition is when it comes to using the internet and what the sample size is. A lot of kids play games or watch things on parent's iPads or whatever, so it could be argued that they technically aren't using the internet in their own capacity. Aside from that, however, 2 billion people using the internet is a really good start, and is basically destined to grow.

bit1

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Quote from: doublemore on June 12, 2016, 09:29:20 AM

Quote from: Woshib on June 12, 2016, 09:11:38 AM

When the Bitcoin will reach its limit.
And it continued to grow, you think the price of Bitcoin will increase?

The internet has still yet to reach its limits, 2 billion users vs 7 billion people. There is a long way to go before bitcoin can reach full potential maybe 20 years would be a conservative estimate, could be longer.

2B is not bad, considering babies, the elderly, people with some kind of disability that makes it impossible to use, etc , so 7 billion sounds too if we consider the above.

harizen

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I will answer your post OP as "non literally".

Bitcoin won't reach it's limit unless people will intentionally grab the bitcoin to it's "limit" status.

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Quote from: Woshib on June 12, 2016, 09:11:38 AM

When the Bitcoin will reach its limit.
And it continued to grow, you think the price of Bitcoin will increase?

We don't know if it's going to be happen ,but i think bitcoin have no limits because the limits is the users who contributed the flow of bitcoins .
Yes, as the year goes by bitcoin price will continue to rise up.

Lauda

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Terminated.

Quote from: MicroGuy on June 12, 2016, 10:15:11 AM

It's impossible to accurately speak about price.

I concur.

Quote from: Denker on June 12, 2016, 11:20:01 AM

The internet could never scale, until it ~~does~~did.

Have you been watching a bit too much of Andreas recently? Cheesy

Quote from: sana54210 on June 12, 2016, 12:15:36 PM

Hate to break it up to you but bitcoin will never reach it's limit of 21 million coins and there's some kind of a computation for this already in some thread which I'm too lazy to find.

Who says that? Why would it not be able to reach it? 20999999.97690000 should be mined according to the Wiki page, and that is close enough to say that 21 Million will be mined.

Quote from: sana54210 on June 12, 2016, 12:15:36 PM

And I do believe that the closer we are to the limit, the more the price will increase.

Well, one could say this but it does not necessarily have to happen.

sana54210

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Hate to break it up to you but bitcoin will never reach it's limit of 21 million coins and there's some kind of a computation for this already in some thread which I'm too lazy to find. And I do believe that the closer we are to the limit, the more the price will increase. However, the rate of increase is something that I have ultimately no idea.

extrabyte

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Quote from: Woshib on June 12, 2016, 09:11:38 AM

When the Bitcoin will reach its limit.
And it continued to grow, you think the price of Bitcoin will increase?

Bitcoin can reach the limit if the system will be broken because of the quantum computers but i highly doubt because until then the core developers will prevent happening this. If you mean when no other new bitcoin will be available then it will take a long time, our generation would not see happening that.

Wendigo

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Bitcoin won't reach its limit until more than 100 years from now so it won't be our generation who will be around to see what will happen to the price near the end of issuing block rewards. It's possible that the price of Bitcoin will have shot to the Moon and even reached Mars in terms of massively increased value but it's also possible that Bitcoin could have ceased to exist even before we reach this point in the future. Bitcoin has had an explosive growth that's for sure but we don't know if this momentum will last forever because something else might come out that is better and people will shift their attention to it.

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