Is the 21 milion of bitcoin a real limit?

OMGyasuo

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Quote from: simbax on December 05, 2017, 02:56:46 AM

Good morning
Reading about bitcoin, I've found that there is a maximum of BTC that can be mined: 21 milions
It is said that this limit is due to the source code.

As probably you know more than I do about BTC:
- is it a real limit
- is it a good thing? I think it is but it looks like BTC will become more a commodity and not just a payment system

What do you think?

Exactly when btc was released it was only offered 20 million btc and that was a fixed number. Especially at that time, btc is usually
provide free in great quantity .I do not think there will be any more releases. This is also a cause for high btc prices. btc is a commodity, it is not wrong. Basically btc is also a commodity, just like gold and we trade it to make a profit.

btcrich2020

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21 million Bitcoin is real limit there is no doubt about that u can check in coinmarketcap

btcgreen63

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The limit can be changed (up or down I assume!) if the development team and the majority of miners decide to change it. So we can say a change is not likely in the near future, but no one knows what the future holds.

dontbefazed

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You can always make more alternative cryptocurrencies based off of Bitcoin, but there is only one real Bitcoin. There's 21M parts to it and once they're all created and mined, you can't redo or make more. You can trade the currently existing ones or divide them up even further, but that's about that.

joetudi_qcshs

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I believe this is true. A lot of people has known it ever since Bitcoin was released. Most of the 21 million bitcoins were already in Satoshi Nakamura's pockets.

Calypso Rossi

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Yes, it is true that the limit to bitcoins is 21 million. After that no new bitcoins will be mined by the miners. Bitcoins will still be in use via transactions. But this will take a long time to reach this value. Still millions of bitcoins are yet to be mined.

alani123

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Quote from: Despacito on January 02, 2018, 10:24:04 AM

Quote from: bit-freedom on January 02, 2018, 10:20:59 AM

Yes, 21 million is the max supply of bitcoin. But in actual fact, some bitcoin are lost forever because of various reasons like lost private keys and etc. So the actual supply is much lower than 21 million.

The circulating supply will never reach 21 million for bitcoin because tons of bitcoin were lost forever because of the fact that people lost their wallets. The current circulation is also less than 14-15 million for now, probably.

It is also impossible to be certain about which bitcoins have actually been lost forever. Someone holding the private key of a wallet can prove ownership but in Bitcoin it is impossible to prove that you have actually access to the key.

Kokoy

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Quote from: simbax on December 05, 2017, 02:56:46 AM

Good morning
Reading about bitcoin, I've found that there is a maximum of BTC that can be mined: 21 milions
It is said that this limit is due to the source code.

As probably you know more than I do about BTC:
- is it a real limit
- is it a good thing? I think it is but it looks like BTC will become more a commodity and not just a payment system

What do you think?

Well if this is a legit information well thanks, but I have several questions like is rhis about per account ? Per wallet ? How about the investors ? I dont think so that they will be able to agree with rhis one, since Bitcoin promotes anonymity feature , a person can possess several accounts and you can see that it may be above the limits, thanks anyway.

zuldrake

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Your limit bitcoin will reach in 20 years. So the question is, will it live that long?

futuret

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Quote from: Kakmakr on January 01, 2018, 02:18:48 AM

Quote from: appleyard on December 06, 2017, 07:58:19 AM

Quote from: simbax on December 05, 2017, 02:56:46 AM

Good morning
Reading about bitcoin, I've found that there is a maximum of BTC that can be mined: 21 milions
It is said that this limit is due to the source code.

As probably you know more than I do about BTC:
- is it a real limit
- is it a good thing? I think it is but it looks like BTC will become more a commodity and not just a payment system

What do you think?

This is stated many time it is true that there is limit of bitcoin to be mine, that is why they are creating a counter part of bitcoins because of that limitation.

What? Bitcoin is not limited by this at all. The amount of units is more than enough and if you want to create more units, then you just need consensus from the people running the full nodes, to run the software with the new changes.

We do not need Counter party tokens to adress any limitations that does not exist. ^lol^

Yeah it is limitless and it is because of its new features and saving procedures. Now 1 satoshi has increased more than 30k and it will not stop growing just it is not having limit but will take time to find this limitation or maybe we will never be able to discover it. For many reasons bitcoin is being use and it will have much more than this if bitcoin will increase the limit and power of an ordinary persons savings.

noictib

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One of the world's leading Bitcoin-powered casinos

Quote from: simbax on December 05, 2017, 02:56:46 AM

Good morning
Reading about bitcoin, I've found that there is a maximum of BTC that can be mined: 21 milions
It is said that this limit is due to the source code.

As probably you know more than I do about BTC:
- is it a real limit
- is it a good thing? I think it is but it looks like BTC will become more a commodity and not just a payment system

What do you think?

This is truth that bitcoin has limit of 21 millions but I don't think that this limit will be achieve by the bitcoin blockchain network Because the main reason behind this factor is that after mine of every one pin the difficulty to mine another next coin is very tough by the miners , And as already about 80% coins of bitcoin are lined so difficulty is much in the current time and Mining of bitcoin by the people normally to have miners is not much profitbale , so here may be it can take about 10 years or may be more to achieve 21 millions bitcoin whole .
And I think it will be better for those who have hold bitcoin Because supply will be zero and demand will go on increasing , so price will increase much and we will make.lots of profit by holding bitcoin.

Swopon

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Gamdom

Yes it is.21 million is the real limit of bitcoin and that means once the amount of btc is fulfilled 21 million then no miner can mine any bitcoin

Despacito

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Quote from: bit-freedom on January 02, 2018, 10:20:59 AM

Yes, 21 million is the max supply of bitcoin. But in actual fact, some bitcoin are lost forever because of various reasons like lost private keys and etc. So the actual supply is much lower than 21 million.

The circulating supply will never reach 21 million for bitcoin because tons of bitcoin were lost forever because of the fact that people lost their wallets. The current circulation is also less than 14-15 million for now, probably.

bit-freedom

sr. member

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Yes, 21 million is the max supply of bitcoin. But in actual fact, some bitcoin are lost forever because of various reasons like lost private keys and etc. So the actual supply is much lower than 21 million.

cue

member

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I think this is the limit as mentioned in the coinmarketcap and i guess it's better to have this limitation of mining bitcoin because it will give good value in the value. Once limited cryptocurrencies, i think it means have high value because there's only 21,000,000 on it.

BTCwin1

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Quote from: simbax on December 05, 2017, 02:56:46 AM

Good morning
Reading about bitcoin, I've found that there is a maximum of BTC that can be mined: 21 milions
It is said that this limit is due to the source code.

As probably you know more than I do about BTC:
- is it a real limit
- is it a good thing? I think it is but it looks like BTC will become more a commodity and not just a payment system

What do you think?

It is precisely because the total amount must be made public that the price of bitcoin keeps rising, which I think is a good news for bitcoin.

meringueberry

newbie

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It is true that the 21 million is the limit. However, come to think about it—getting all those mined will take a very long time. That is why, from now, people are looking into investing.

Tinna25

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yes. it is the max suply of bitcoin. and can not be duplicated or imitated. and since bitcoin becomes the first digital currency then the price is also a reference for all altcoin

Kakmakr

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Leading Crypto Sports Betting & Casino Platform

Quote from: appleyard on December 06, 2017, 07:58:19 AM

Quote from: simbax on December 05, 2017, 02:56:46 AM

Good morning
Reading about bitcoin, I've found that there is a maximum of BTC that can be mined: 21 milions
It is said that this limit is due to the source code.

As probably you know more than I do about BTC:
- is it a real limit
- is it a good thing? I think it is but it looks like BTC will become more a commodity and not just a payment system

What do you think?

This is stated many time it is true that there is limit of bitcoin to be mine, that is why they are creating a counter part of bitcoins because of that limitation.

What? Bitcoin is not limited by this at all. The amount of units is more than enough and if you want to create more units, then you just need consensus from the people running the full nodes, to run the software with the new changes.

We do not need Counter party tokens to adress any limitations that does not exist. ^lol^

Dexion

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Activity: 812

Merit: 101

21 million, it is a bitcoin inventory. and every year is reduced. I heard some information that bitcoin will be added by some of the world's major developers and investors.
we do not need to think about bitcoin, because under the bitcoin there is still altcoin that we can make income

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