Topic: Increasing Bitcoin supply - page 2. (Read 675 times)
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.
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.
the more circulation be made the more peoples will hate it as the price will be down as not many investor will like about it. peoples want to dominance bitcoin.they dont want to be betray about circulation for sure.
In Satoshi's vision, this idea is a nonsense. Btw, it's also impossible, technically speaking.
I think it is possible but the thing will not be accepted by a lot of people who are currently supporting bitcoin and the people who have a huge number of investment or number of bitcoin in their bitcoin wallets. That will be also having a great effect on the bitcoin price and might take it down or maybe up in the near future if it was passed through the debate of that idea which I think will really not happen.
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
In my opinion, I honestly think that it’s not possible if bitcoin increases more than 21 million, it’s definitely against Satoshi. The quantity of people who use bitcoin will reduce a lot (I guess) and a few one invest bitcoin,then bitcoin can be in bankrupty easily. People may not trust much more on bitcoin like before if it’s over the regulation. Therefore, I think that it is better for us to keep the supply of bitcoin at 21 million as it is. 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.
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.
There seems to be a lot of confusion about this very simple topic.
Is it possible to exceede 21million bitcoin by "mining more coins"?
No, absolutely not, in any way at all. This is phisically impossible. The very protocol, the logic of Bitcoin does not allow for 21 million bitcoin to be mined. With reward halving every n block, rewards will tend to 0 relatively soon, and wll become completely irrelevant (indeed, at one point there will be no coin generation for mining reward at all). At that point, just shy of 21million coins, there will be no way to generate even 1 satoshi, no matter how many terahash you send Bitcoin's way.
Is it possible to modify the fundamental logic of Bitcoin to increase maximum supply?
Yes, but pratically no.
Bitcoin's source is available, and we have seen plenty of people take advantage of this spinning of arbitrary Forks here and there. Bitcoin Cash is a great example. shares Bitcoin's history until a certain block, then deviates. It's an altcoin, it has nothing to do with Bitcoin. The fact that is basically used a "snapshot" of BTC to kick-start everything is nothing more than a convoluted airdrop.
So, someone could easily take the source code, and choose to make the new limit of minable coins 1 trillion. BUT, this would not be bitcoin. for it to be bitcoin, the community at large would have to accept it and recognize it as bitcoin (i.e. change client in order to take part in this new fork). Considering it will most likely have a negative impact on prices, it's easy to imagine that a vast majority of us Bitcoiners will refuse to take part of such a stupid experiment.
We will end up with Bitcoin (normal), and TurkishLiraBitCoin. Nobody's going to let an increase in supply through to mainnet.
I am SO SURPRISED at how many people responded "Yes you can increase the supply" before I found this one.Is it possible to exceede 21million bitcoin by "mining more coins"?
No, absolutely not, in any way at all. This is phisically impossible. The very protocol, the logic of Bitcoin does not allow for 21 million bitcoin to be mined. With reward halving every n block, rewards will tend to 0 relatively soon, and wll become completely irrelevant (indeed, at one point there will be no coin generation for mining reward at all). At that point, just shy of 21million coins, there will be no way to generate even 1 satoshi, no matter how many terahash you send Bitcoin's way.
Is it possible to modify the fundamental logic of Bitcoin to increase maximum supply?
Yes, but pratically no.
Bitcoin's source is available, and we have seen plenty of people take advantage of this spinning of arbitrary Forks here and there. Bitcoin Cash is a great example. shares Bitcoin's history until a certain block, then deviates. It's an altcoin, it has nothing to do with Bitcoin. The fact that is basically used a "snapshot" of BTC to kick-start everything is nothing more than a convoluted airdrop.
So, someone could easily take the source code, and choose to make the new limit of minable coins 1 trillion. BUT, this would not be bitcoin. for it to be bitcoin, the community at large would have to accept it and recognize it as bitcoin (i.e. change client in order to take part in this new fork). Considering it will most likely have a negative impact on prices, it's easy to imagine that a vast majority of us Bitcoiners will refuse to take part of such a stupid experiment.
We will end up with Bitcoin (normal), and TurkishLiraBitCoin. Nobody's going to let an increase in supply through to mainnet.
Thank you for saving my faith in Humanity...
I thought everyone went crazy for a minute lol
Can yo please explain me the this part of the above comment -"snapshot" of BTC , what does "snapshot" mean here ? Thanks
I think it will increase depending on the demand of supply in mining and the people who mined is bases on their adaption.The possible increasing price value of bitcoin is because to the miners ,users and invetors on it.The more demand on engage people in bitcoin the more it increases bitcoin supply.
Absolutely cause that is the common reason why the growth rate of bitcoin is increasing because of the miners, investor, and also holders indeed there will be a huge demand after more adaption will made. And if the opposite happen for sure bitcoin valued will decrease and always fluctuated like what happened on this month.
There seems to be a lot of confusion about this very simple topic.
Is it possible to exceede 21million bitcoin by "mining more coins"?
No, absolutely not, in any way at all. This is phisically impossible. The very protocol, the logic of Bitcoin does not allow for 21 million bitcoin to be mined. With reward halving every n block, rewards will tend to 0 relatively soon, and wll become completely irrelevant (indeed, at one point there will be no coin generation for mining reward at all). At that point, just shy of 21million coins, there will be no way to generate even 1 satoshi, no matter how many terahash you send Bitcoin's way.
Is it possible to modify the fundamental logic of Bitcoin to increase maximum supply?
Yes, but pratically no.
Bitcoin's source is available, and we have seen plenty of people take advantage of this spinning of arbitrary Forks here and there. Bitcoin Cash is a great example. shares Bitcoin's history until a certain block, then deviates. It's an altcoin, it has nothing to do with Bitcoin. The fact that is basically used a "snapshot" of BTC to kick-start everything is nothing more than a convoluted airdrop.
So, someone could easily take the source code, and choose to make the new limit of minable coins 1 trillion. BUT, this would not be bitcoin. for it to be bitcoin, the community at large would have to accept it and recognize it as bitcoin (i.e. change client in order to take part in this new fork). Considering it will most likely have a negative impact on prices, it's easy to imagine that a vast majority of us Bitcoiners will refuse to take part of such a stupid experiment.
We will end up with Bitcoin (normal), and TurkishLiraBitCoin. Nobody's going to let an increase in supply through to mainnet.
I am SO SURPRISED at how many people responded "Yes you can increase the supply" before I found this one.Is it possible to exceede 21million bitcoin by "mining more coins"?
No, absolutely not, in any way at all. This is phisically impossible. The very protocol, the logic of Bitcoin does not allow for 21 million bitcoin to be mined. With reward halving every n block, rewards will tend to 0 relatively soon, and wll become completely irrelevant (indeed, at one point there will be no coin generation for mining reward at all). At that point, just shy of 21million coins, there will be no way to generate even 1 satoshi, no matter how many terahash you send Bitcoin's way.
Is it possible to modify the fundamental logic of Bitcoin to increase maximum supply?
Yes, but pratically no.
Bitcoin's source is available, and we have seen plenty of people take advantage of this spinning of arbitrary Forks here and there. Bitcoin Cash is a great example. shares Bitcoin's history until a certain block, then deviates. It's an altcoin, it has nothing to do with Bitcoin. The fact that is basically used a "snapshot" of BTC to kick-start everything is nothing more than a convoluted airdrop.
So, someone could easily take the source code, and choose to make the new limit of minable coins 1 trillion. BUT, this would not be bitcoin. for it to be bitcoin, the community at large would have to accept it and recognize it as bitcoin (i.e. change client in order to take part in this new fork). Considering it will most likely have a negative impact on prices, it's easy to imagine that a vast majority of us Bitcoiners will refuse to take part of such a stupid experiment.
We will end up with Bitcoin (normal), and TurkishLiraBitCoin. Nobody's going to let an increase in supply through to mainnet.
Thank you for saving my faith in Humanity...
I thought everyone went crazy for a minute lol
It can be bad to the whole comunity for if its able to renew the current circulating supply of Bitcoin. Well, that where hard forks are to rescue and to answer your question as you know Bitcoin is still on it's experimental stage and just accept it that we only have 21 million coins that can circulate and there are a lot of lost bitcoins including satoshi's.
Truly the bitcoin supply high in the market because of the value rise individuals sold their coins in the remainder of this current year so on account of that the bitcoin supply high in the market which isn't great however it isn't the issue there are such a significant number of different employments of bitcoin have begun now in the new year and the individuals who have sold bitcoin they will prepared to purchase this once more.
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
We should let it this way . In my own opinion it is better to leave it as it is becauae it will affect the flow of the coins and it will cause deflation. And 21M is the maximum supply of bitcoin only.
i think that is possible to happen. because bitcoin always get supply for miner and user is like they created more bitcoin make bitcoin can't stop working. anytime bitcoin will increases depending on demand.
But total supply million. you can't exceed that amount huh?
i think that is possible to happen. because bitcoin always get supply for miner and user is like they created more bitcoin make bitcoin can't stop working. anytime bitcoin will increases depending on demand.
In Satoshi's vision, this idea is a nonsense. Btw, it's also impossible, technically speaking.
No, the supply of bitcoin can't be increased the only way developers can do is to introduce other alts to divert the demand of bitcoin or increased the value of bitcoin so that it can be distributed in a wide range. This fact about bitcoin is one of the disadvantage bitcoin has that I think can never be resolve but even though people still believe that bitcoin can stand alone as a global currency.
I don't think you can increase supply for more than 21million
The increase or the movement in terms of Bitcoin supply or the stock is depending on the current status of miners in a particular country. We should also see the big impact of market movement that has a credit to Tha changes and development Bitcoin could have in the future with the help of our support and daily transactions.
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