It seems that lot of people here haven't clear idea how bitcoin works, what mining is, what blockchain is.
I'd advice who has this kind of problem to read at least the basic, because it's easy to make big mistakes if there is confusion about basic concepts.
Topic: Increasing Bitcoin supply (Read 675 times)
It is technically possible, but doing so would negatively impact the price. It is likely never going to happen.
agree with you, because the supply has been determined at the beginning of the created bitcoin. will be many possibilities, even a lot of different thinking. but I don't think bitcoin will ever increase in number.
If it is possible, if it is required to increase BTC suppy. Who will determine to increase BTC supply?
It is technically possible, but doing so would negatively impact the price. It is likely never going to happen.
agree with you, because the supply has been determined at the beginning of the created bitcoin. will be many possibilities, even a lot of different thinking. but I don't think bitcoin will ever increase in number.
Bitcoin increase daily by mining; but you can't increase the rate of supply.
Please note that this is the biggest advantage of bitcoin on fiat money, that protect us from inflation.
Please note that this is the biggest advantage of bitcoin on fiat money, that protect us from inflation.
I am asking this question for my knowledge as I don't know the real fact as a newbie, We know that Bitcoin has limited supply compare to new altercoins, As the supply is not too big, Bitcoin price has become very high, My question is ,Is it impossible to increase the bitcoin supply mining new bitcoins further more ? Thanks in advance
If you increase the Bitcoin supply it will lose the point and a LOT of value. Because what is done once, it will become habit. Increasing the number of coins will ruin the coin. Period!
Bitcoin is unlikely to increase because the total amount of bitcoins is fixed, and in the future, bitcoin will become more and more difficult to obtain, and its price will become higher and higher.
When we think about BTC in that we will sad that we couldn't gain enough BTC earlier.
Yah. The supply limitaion incrases the value more. If the supply is increased, then there wont be a demand for it, and when there is no demand on it, the price do not get increased. The main reason for bitcoin value to keep increasing further would be the demand on it. Though everything is possible with techs, it is said and finalized with the current limitation of supply. The new born of BCH, Bitconnect and other altcoins created by BTC team would be another main reason.
I am asking this question for my knowledge as I don't know the real fact as a newbie, We know that Bitcoin has limited supply compare to new altercoins, As the supply is not too big, Bitcoin price has become very high, My question is ,Is it impossible to increase the bitcoin supply mining new bitcoins further more ? Thanks in advance
If you increase the Bitcoin supply it will lose the point and a LOT of value. Because what is done once, it will become habit. Increasing the number of coins will ruin the coin. Period!
I am asking this question for my knowledge as I don't know the real fact as a newbie, We know that Bitcoin has limited supply compare to new altercoins, As the supply is not too big, Bitcoin price has become very high, My question is ,Is it impossible to increase the bitcoin supply mining new bitcoins further more ? Thanks in advance
If you increase the Bitcoin supply it will lose the point and a LOT of value. Because what is done once, it will become habit. Increasing the number of coins will ruin the coin. Period!
It would be a very bad idea to try and increase the supply that is one of the main reasons for the value of bitcoin it is a limited supply which is actually less than the 21 million with the amount of lost coins out there.
Increasing the number of bitcoins will severly devalue the currency but again comparing it to Gold, there isn't a fixed amount of Gold in the system like Bitcoin. So maybe if the value is unlimited it is not going to cost any problem at all.Agree I will only invest in coins with a limited volume, due to the basic supply and demand argument coins with a limited availability will always experience growth.
Those with an unlimited supply will level out eventually
It would be a very bad idea to try and increase the supply that is one of the main reasons for the value of bitcoin it is a limited supply which is actually less than the 21 million with the amount of lost coins out there.
Increasing the number of bitcoins will severly devalue the currency but again comparing it to Gold, there isn't a fixed amount of Gold in the system like Bitcoin. So maybe if the value is unlimited it is not going to cost any problem at all.
The bitcoin supply increases day to day, this is exact the aim of mining.
What you can increase - luckily - is the speed with this supply can increase.
This is exactly what gives value to bitcoin.
What you can increase - luckily - is the speed with this supply can increase.
This is exactly what gives value to bitcoin.
I do not know why bitcoin has a limited supply, and is predicted to run out in 2024.
and I do not know if bitcoin can be added or not, but I know that other altcoins when on the wall run out, then it can be added.
maybe bitcoin can also do the same thing.
and I do not know if bitcoin can be added or not, but I know that other altcoins when on the wall run out, then it can be added.
maybe bitcoin can also do the same thing.
Increase bitcoin supply, is not advisable, if you increase supply of bitcoin without adequate measure, it will bitcoin to loss it value, and unecessary inflation set inn.
In order to maintain the core purpose of bitcoin, increase of supply is not the way to go for now.
In order to maintain the core purpose of bitcoin, increase of supply is not the way to go for now.
I am asking this question for my knowledge as I don't know the real fact as a newbie, We know that Bitcoin has limited supply compare to new altercoins, As the supply is not too big, Bitcoin price has become very high, My question is ,Is it impossible to increase the bitcoin supply mining new bitcoins further more ? Thanks in advance
The number of bitcoins can be increased anytime but that would be against the original design of nakamoto satoshi which is set at 21 million coins. Increasing in the number of bitcoin can cause tremendous deflation in its value. So let us just accept the current bitcoin as it is.
How long will it take to finish mining all 21 million ? I saw that some one has told it will end up mining in 2140. I don't know whether it is correct or not,
Hmm, but we will not have much money to buy BTC When Its price increase at this rate even though we have enough time .
I am asking this question for my knowledge as I don't know the real fact as a newbie, We know that Bitcoin has limited supply compare to new altercoins, As the supply is not too big, Bitcoin price has become very high, My question is ,Is it impossible to increase the bitcoin supply mining new bitcoins further more ? Thanks in advance
The number of bitcoins can be increased anytime but that would be against the original design of nakamoto satoshi which is set at 21 million coins. Increasing in the number of bitcoin can cause tremendous deflation in its value. So let us just accept the current bitcoin as it is.
How long will it take to finish mining all 21 million ? I saw that some one has told it will end up mining in 2140. I don't know whether it is correct or not,
I am asking this question for my knowledge as I don't know the real fact as a newbie, We know that Bitcoin has limited supply compare to new altercoins, As the supply is not too big, Bitcoin price has become very high, My question is ,Is it impossible to increase the bitcoin supply mining new bitcoins further more ? Thanks in advance
The number of bitcoins can be increased anytime but that would be against the original design of nakamoto satoshi which is set at 21 million coins. Increasing in the number of bitcoin can cause tremendous deflation in its value. So let us just accept the current bitcoin as it is.
How long will it take to finish mining all 21 million ? I saw that some one has told it will end up mining in 2140. I don't know whether it is correct or not,
I am asking this question for my knowledge as I don't know the real fact as a newbie, We know that Bitcoin has limited supply compare to new altercoins, As the supply is not too big, Bitcoin price has become very high, My question is ,Is it impossible to increase the bitcoin supply mining new bitcoins further more ? Thanks in advance
The number of bitcoins can be increased anytime but that would be against the original design of nakamoto satoshi which is set at 21 million coins. Increasing in the number of bitcoin can cause tremendous deflation in its value. So let us just accept the current bitcoin as it is.
I am asking this question for my knowledge as I don't know the real fact as a newbie, We know that Bitcoin has limited supply compare to new altercoins, As the supply is not too big, Bitcoin price has become very high, My question is ,Is it impossible to increase the bitcoin supply mining new bitcoins further more ? Thanks in advance
I can say that's right, it's possible that bitcoin prices rise due to mining, and also the reasons for the bitcoin price will go up is the growing of numbers of investors, demand of supply, and holders. What is your question? What do you mean by increasing the supply and what'll happen? The supply of bitcoins all over the blockchain is only 21 million. And many of those aren't mined just yet. I wonder what will happen if those unmined bitcoin will be mined. All of the supply will be mined. Probably due to demand the price of bitcoin will go up.
I think You have already understood the questions.
no need to clarify. Agree with you on your speech here 
I am asking this question for my knowledge as I don't know the real fact as a newbie, We know that Bitcoin has limited supply compare to new altercoins, As the supply is not too big, Bitcoin price has become very high, My question is ,Is it impossible to increase the bitcoin supply mining new bitcoins further more ? Thanks in advance
It is not possible to Mine BTC faster as there is fixed block size and time. Usually, it takes 10 min to mine a block and time can't be acceded or decreased as Hash rate adjust itself accordingly so that time of block mining remains roughly the same. This the beauty of this technology and Where supply, as well as time of mining, is limited.
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