Increasing Bitcoin supply - page 6. | Bitcointalksearch.org

zoose

full member

Activity: 163

Merit: 100

Quote from: anushkasachith888 on January 08, 2018, 06:05:50 AM

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

There have been many discussions about this and it can be done. But that would be one hell of a battle!

Al-e_x

member

Activity: 560

Merit: 11

Quote from: anushkasachith888 on January 08, 2018, 06:05:50 AM

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 I read in the article, There are only 21 million bitcoin alone, If it will increase, it will change the original design of nakamoto satoshi and it will negatively affect the price. So we better accept what it is only.

kristensoto

full member

Activity: 490

Merit: 100

i dont say it is possible but if bitcoin is created more than 21 million, surely inflation will occur making bitcoin value drop very quick and no one will ever want to use bitcoin anymore, so keeping the supply of bitcoin is 21 million is very important that we must do for our sakes.

emuLOAD

sr. member

Activity: 328

Merit: 252

Quote from: eann014 on January 10, 2018, 09:10:35 PM

So bitcoin will disappear soon? What do you mean of lets just accept the current bitcoin as it is? If there is only 21 million and that is really it is, is that mean bitcoin will going to be zero in the future? Maybe bitcoin supply will also increase especially if therr are also a lot of us will mine.

The number of people mining is wholly irrelevant. If one billion people were mining, there would still only ever be a maximum of 21 million BTC available. that's a hard limit. Miners are irrelevant.

Quote from: Ray3z on January 10, 2018, 08:19:09 PM

The developer can do such thing without information so how i can we notice that bitcoin supply will never be increasing? I have no idea about this.
However, if the supply increase, it will make the trust to bitcoin loss forever.

If a developer were to increase supply, he would break consensus and blocks generated by such a piece of software would be rejected by anybody opposed to it--which I assure you will be the majority of Bitcoin users. Developers can change the software but they can't force everybody to switch to that new version.

RoccoSiffredi

member

Activity: 134

Merit: 10

I'm afraid you should do a bit of study so as to understand how the mechanism of Bitcoin functions, supply etc. And then, every altcoin has their own criteria.

mung_nasib

full member

Activity: 602

Merit: 100

DeFixy.com - The future of Decentralization

I do not think the benchmark bitcoin added again because it has been applied since the first stock of coins should be so continuous. Therefore sometimes the selling price is very high when there are many requests simultaneously.

Drunkenhorse

member

Activity: 112

Merit: 10

Not a good idea to change a supply, that's the whole point of Bitcoin that it is limited and similar to gold from that point of view. Changing it, would create problems in trust.

eann014

hero member

Activity: 1078

Merit: 501

Quote from: Mandoy on January 08, 2018, 07:00:42 AM

Quote from: anushkasachith888 on January 08, 2018, 06:05:50 AM

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.

So bitcoin will disappear soon? What do you mean of lets just accept the current bitcoin as it is? If there is only 21 million and that is really it is, is that mean bitcoin will going to be zero in the future? Maybe bitcoin supply will also increase especially if therr are also a lot of us will mine.

AnisahSiti

member

Activity: 261

Merit: 15

👉bit.ly/3QXp3oh | 🔥 Ultimate Launc

Quote from: Almat on January 08, 2018, 06:07:46 AM

It is technically possible, but doing so would negatively impact the price. It is likely never going to happen.

Yups... this is true. the bad impact if Bitcoin supply increases Bitcoin will dead slowly,

Stigmooo

newbie

Activity: 97

Merit: 0

Many people now are investing to bitcoin..the more investments the higher the supply..

Rate

member

Activity: 62

Merit: 10

Quote from: anushkasachith888 on January 08, 2018, 06:05:50 AM

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 thought this is possible but I expeting to bitcoin it will not increase the supply.
I am wondering what will happened to bitcoin if this is no longer to mine, who will confirm our transaction?

Ray3z

member

Activity: 188

Merit: 10

Quote from: Almat on January 08, 2018, 06:07:46 AM

It is technically possible, but doing so would negatively impact the price. It is likely never going to happen.

The developer can do such thing without information so how i can we notice that bitcoin supply will never be increasing? I have no idea about this.
However, if the supply increase, it will make the trust to bitcoin loss forever.

emuLOAD

sr. member

Activity: 328

Merit: 252

Quote from: marcuslong on January 10, 2018, 08:05:16 PM

Quote from: anushkasachith888 on January 08, 2018, 06:05:50 AM

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

Yes. It is so possible. Actually, Bitcoin mining makes the supply increase. The only thing makes the miners trying to mine moreis because of the Bitcoin's price. They tend to mine many Bitcoins to gain money. They are buying high specifications laptop or computer set in able for them to mine many Bitcoins. But, Always remember that if the supply is limited, The Price is getting higher and higher. This is the advantage of miners. Start mining.

Miners increase available supply to increase _exclusively_ as long as we are below 21 million coins. As mentioned, mining rewards will reach 0 after a few years. because of the way bitcoin works, overall coin creation speed won't change regardless of power of mining.

marcuslong

legendary

Activity: 1036

Merit: 1002

Quote from: anushkasachith888 on January 08, 2018, 06:05:50 AM

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

Yes. It is so possible. Actually, Bitcoin mining makes the supply increase. The only thing makes the miners trying to mine moreis because of the Bitcoin's price. They tend to mine many Bitcoins to gain money. They are buying high specifications laptop or computer set in able for them to mine many Bitcoins. But, Always remember that if the supply is limited, The Price is getting higher and higher. This is the advantage of miners. Start mining.

Suzrtt

newbie

Activity: 12

Merit: 0

As you rightly said, a fixed supply results in an increasing price as time passes. Creating new coins will drastically reduce the price of BTC so there is really no point doing that.

ihaveaquestion

full member

Activity: 563

Merit: 101

Bitcoin's supply will always be the same, i do not understand why you all are always asking the same crap because we all know that it can never be changed, doesn't matter what.
It will always be 21 millions of bitcoins on the total circulation, what is wrong with you? Everybody knows that.

shield132

hero member

Activity: 2352

Merit: 905

Metawin.com - Truly the best casino ever

Quote from: nightmanisrightman on January 08, 2018, 07:42:47 AM

Not unless you change the way Bitcoin was set to be released and this is an awful idea. It isn't bad because the supply changes necessarily but it is bad because you would have a lot of confidence lost and that is literally the last thing you want in an newly emerging asset class.

If we change the number of bitcoin supply, believe me, it won't be done indeed for necessarity, some people will make big money and crash coin forever. Also don't forget that there isn't bitcoin on this type: 1, it can be 0.1, 0.00001 and finally 0.0000001. So there won't be so high price to be a need of adding additional bitcoins, never.

xxx3

member

Activity: 87

Merit: 10

Increased supply of bitcoin will lead to falling prices because bitcoin prices are high because demand is high and supply is low. If someone increases the supply it will dilute the demand and the price will also fall, I think the limited amount of bitcoin can be increased by the creator if he wants but if he does then the price will not fall so I hope the bitcoin amount will be 21 million

batang_bitcoin

hero member

Activity: 3080

Merit: 603

Quote from: anushkasachith888 on January 08, 2018, 06:05:50 AM

As the supply is not too big

21 million supply isn't a big one? How come? That's millions and if you are thinking about the number of people that has bitcoins and you are widening the users that will cover the world's population. It can be divided to fractions and bitcoin's value will increase by that time.

Quote from: anushkasachith888 on January 08, 2018, 06:05:50 AM

Is it impossible to increase the bitcoin supply mining new bitcoins further more ?

No, it's fixed.

usahaali02

newbie

Activity: 95

Merit: 0

Whatever the money, whether it's digital money, fiat money or anything, there must be fluctuations. So if bitcoin is supplied a lot, then we should get ready to see bitcoin prices go down.

Topic: Increasing Bitcoin supply - page 6. (Read 675 times)