Is the number of available bitcoins decreasing?

jaysabi

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Quote from: AsaroUk on May 26, 2016, 03:14:29 AM

It is possible that the number of available Bitcoins are decreasing because so many peope are just holding on to there coins for the future. This means that there are less coins that people can actually spend.

This is not the same as lost coins. By "decreasing," OP means coins that are lost and not recoverable. Coins that are not in circulation are not lost.

AsaroUk

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It is possible that the number of available Bitcoins are decreasing because so many peope are just holding on to there coins for the future. This means that there are less coins that people can actually spend.

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Quote from: mrhelpful on May 09, 2016, 11:15:22 AM

Keep in mind despite half way being there already to the hard code.

Bitcoins are always constantly being bought and sold daily, so you shouldnt worry too much about running out. Unless there was a huge directory of the majority coins counted that are held in cold storage only then I`d be looking into it as a shortage supply situation.

I will keep that in mind. I hope some here read this too. It wil run out, Yes, but the movement of it should never end. Yes we can keep all the bitcoin we want now. But in the future there should be this community that will let each of us to use it for its movement. Never to keep so much.

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Quote from: maudevang on May 24, 2016, 04:15:09 AM

Yeah it is possible that the available Bitcoins are decreasing because people are just holding on to there coins so there are not many to spend. If Bitcoin decides to make more then the value will go down.

I think it is not decreasing, people are saying it is decreasing because many of us are holding it.
So tendency, lesser bitcoins are now circulating in the market because most of it are stored in wallet addresses.

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Quote from: Hirose UK on May 24, 2016, 05:07:04 AM

Quote from: unholycactus on February 19, 2016, 06:54:58 PM

Quote from: richardsNY on February 19, 2016, 06:21:32 PM

The number of freshly created Bitcoins will decrease because of the block halving. In Juli this year the second block halving will kick in and lower the block rewards to 12.5 BTC. Can you explain what exactly you mean with Bitcoins being "lost"?

People send (voluntarily or by mistake) coins to addresses nobody controls. (https://blockchain.info/address/1BitcoinEaterAddressDontSendf59kuE)
Or have stored their coins in an address which the private key has been lost.

how could it be? I mean a wallet can't create itself, right? So what happen with the nobody-crontrol wallet?

A wallet is just a list of addresses and the associated private keys. So if you lose the key to an address, btc can still be sent to it, but never retrieved. It is in a sense "lost" forever.

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Quote from: unholycactus on February 19, 2016, 06:54:58 PM

Quote from: richardsNY on February 19, 2016, 06:21:32 PM

The number of freshly created Bitcoins will decrease because of the block halving. In Juli this year the second block halving will kick in and lower the block rewards to 12.5 BTC. Can you explain what exactly you mean with Bitcoins being "lost"?

People send (voluntarily or by mistake) coins to addresses nobody controls. (https://blockchain.info/address/1BitcoinEaterAddressDontSendf59kuE)
Or have stored their coins in an address which the private key has been lost.

how could it be? I mean a wallet can't create itself, right? So what happen with the nobody-crontrol wallet?

maudevang

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Yeah it is possible that the available Bitcoins are decreasing because people are just holding on to there coins so there are not many to spend. If Bitcoin decides to make more then the value will go down.

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Quote from: ravens on May 23, 2016, 03:22:05 PM

There can be only 21 million bitcoins. Even if you lose bitcoins, the number of available bitcoins isn't decreasing because the lost bitcoins are still there, they just can't be found.

I think the point of the post is that if those lost bitcoins can't be found then they are really gone. Yes technically they exist but are completely useless so they are not available anymore.

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There can be only 21 million bitcoins. Even if you lose bitcoins, the number of available bitcoins isn't decreasing because the lost bitcoins are still there, they just can't be found.

jaysabi

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Quote from: Lumada on May 14, 2016, 08:26:53 AM

Quote from: saiha on May 10, 2016, 11:39:24 PM

Quote from: ?? on ??

Is there an amount of bit coins available? Didn't heard of that before but is it true.
How can there be a top if we reach it no one can buy a bit coin any more? i don't now but that's hard to believe.

I think the distrubition and available bitcoins today are 15,500,000 bitcoins on the economy is now circulating.
I just got that information at this link : https://blockchain.info/charts/total-bitcoins

The actual number in circulation will be smaller than that 15.5 millioni coins. Most of in the cold storage.

Yes, it is important to remember that the number of coins "circulating" is greatly smaller than the number that exist, and the number actively traded is even smaller than the number circulating. And most importantly, it is he number trading that determine the price. If all the coins that existed were actively being traded back and forth to fiat, btc price would be substantially lower than it is now.

~Bitcoin~

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You are quite right on the sense that lots of bitcoin are getting lost because people forget their email combination of online wallet and don't put their backups in secure place. Some bitcoin are also burned on early days of creation and its like we will never see those 1million around bitcoin that satoshi is supposed to have. So there will be big gap between available bitcoin and spendable bitcoin at any time which is actually increasing day by day.

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Quote from: saiha on May 10, 2016, 11:39:24 PM

Quote from: ?? on ??

Is there an amount of bit coins available? Didn't heard of that before but is it true.
How can there be a top if we reach it no one can buy a bit coin any more? i don't now but that's hard to believe.

I think the distrubition and available bitcoins today are 15,500,000 bitcoins on the economy is now circulating.
I just got that information at this link : https://blockchain.info/charts/total-bitcoins

The actual number in circulation will be smaller than that 15.5 millioni coins. Most of in the cold storage.

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Quote from: ?? on ??

Is there an amount of bit coins available? Didn't heard of that before but is it true.
How can there be a top if we reach it no one can buy a bit coin any more? i don't now but that's hard to believe.

I think the distrubition and available bitcoins today are 15,500,000 bitcoins on the economy is now circulating.
I just got that information at this link : https://blockchain.info/charts/total-bitcoins

Altcoinsupporter

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How are the coins decreasing and how to people keep count of this. Maybe it is because of the fact that people are holding on to there Bitcoins for the future and not spend them.
This way the Bitcoins do not move enough.

mrhelpful

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Keep in mind despite half way being there already to the hard code.

Bitcoins are always constantly being bought and sold daily, so you shouldnt worry too much about running out. Unless there was a huge directory of the majority coins counted that are held in cold storage only then I`d be looking into it as a shortage supply situation.

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Quote from: jaysabi on May 08, 2016, 08:48:37 AM

Quote from: Amph on May 06, 2016, 12:58:49 AM

Quote from: deuce22 on May 05, 2016, 11:55:51 AM

there are many bitcoin out in the market and we are still not half way of the bitcoin that is needed to be collected.

wrong, we are already at 15-16M so more than half way, to the full supply, which is roughly 21M

Full supply isn't roughly 21 million. It's exactly 21 million.

no it's not, it's almost 21M, exactly 20999999.97690000

jaysabi

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Quote from: boyptc on May 08, 2016, 08:58:49 AM

Quote from: jaysabi on May 08, 2016, 08:48:37 AM

Quote from: Amph on May 06, 2016, 12:58:49 AM

Quote from: deuce22 on May 05, 2016, 11:55:51 AM

there are many bitcoin out in the market and we are still not half way of the bitcoin that is needed to be collected.

wrong, we are already at 15-16M so more than half way, to the full supply, which is roughly 21M

Full supply isn't roughly 21 million. It's exactly 21 million.

That's true it is exactly 21 million and I have read a post that most people that accumulate the most bitcoins are Chinese.
And they are the miners that mining it most.

They may be mining much of it, but I don't know about accumulating it. Miners have to constantly sell in order to pay the expenses of mining.

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Quote from: jaysabi on May 08, 2016, 08:48:37 AM

Quote from: Amph on May 06, 2016, 12:58:49 AM

Quote from: deuce22 on May 05, 2016, 11:55:51 AM

there are many bitcoin out in the market and we are still not half way of the bitcoin that is needed to be collected.

wrong, we are already at 15-16M so more than half way, to the full supply, which is roughly 21M

Full supply isn't roughly 21 million. It's exactly 21 million.

That's true it is exactly 21 million and I have read a post that most people that accumulate the most bitcoins are Chinese.
And they are the miners that mining it most.

jaysabi

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Quote from: Amph on May 06, 2016, 12:58:49 AM

Quote from: deuce22 on May 05, 2016, 11:55:51 AM

there are many bitcoin out in the market and we are still not half way of the bitcoin that is needed to be collected.

wrong, we are already at 15-16M so more than half way, to the full supply, which is roughly 21M

Full supply isn't roughly 21 million. It's exactly 21 million.

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Quote from: Amph on May 06, 2016, 12:58:49 AM

Quote from: deuce22 on May 05, 2016, 11:55:51 AM

there are many bitcoin out in the market and we are still not half way of the bitcoin that is needed to be collected.

wrong, we are already at 15-16M so more than half way, to the full supply, which is roughly 21M

For the first halving, the supply of bitcoin is already 50% of the total supply. After this halving, there are only 25% new coins left.

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