Topic: Is the number of available bitcoins decreasing? - page 4. (Read 9879 times)

Quote from: aardvark15 on February 19, 2016, 06:04:57 PM

I think the number of available bitcoins is increasing, because there are many miners out there. And if bitcoins decreasing i think it will affect the price of bitcoins.

People talking about bitcoins that idle on wallets of people who wont use it. But bitcoins mining everyday and we have a good stock of bitcoins now so no need to panic

There is no need to panic since there are many bitcoin out in the market and we are still not half way of the bitcoin that is needed to be collected.

And even if the number of bitcoins diminishes as long as the demand increase it is fine. The value of bitcoin will grow and that is our target. To have a very high price bitcoin and enjoy it.

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Let me explain. Bitcoins are constantly being created (mined) but bitcoins are constantly being lost also. The number of bitcoins created per year is decreasing (by design) and we could assume that the number of bitcoins lost keeps increasing every year. If this is true, then at some point the total number of bitcoins available (not lost) would decease because more are being lost than being created. If it hasn't started happening yet, it will sometime in the future.

most people won't lose their bitcoin, i doubt the amount of bitcoin lost is anywhere near the amount of bitcoin mined. And for the next couple of decades it will remain that way.

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Quote from: vero on April 15, 2016, 11:01:27 PM

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Quote from: n0ne on April 22, 2016, 08:17:12 AM

I think the number of available bitcoins is increasing, because there are many miners out there. And if bitcoins decreasing i think it will affect the price of bitcoins.

Bitcoin will never deacreasing cause of miners it's ture. But a lot of people are holding bitcoins and it's a problem what nobody can solve. Everyone want more money.

Let's set the record straight here.

The total number of bitcoins produced by miners is determined by a fixed schedule. It does not depend on the number of miners or the hash rate or the difficulty. According to the schedule, the number of bitcoins produced decreases every 210,000 blocks until at some point no more bitcoins are produced.

However, bitcoins are also constantly being lost by people losing their private keys.

The question is when will people be losing bitcoins faster than they are produced by miners.

if that's correct, the number of bitcoin produced decreases every 210,000 it means someday the price of bitcoin will soar higher than we've ever seen.

I wasn't aware of this. So what you are saying is that eventually mining for it will be pointless? It will decrease to a point that it will take a year to mine just 1 bitcoin.

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Quote from: Betwrong on April 22, 2016, 03:10:33 AM

Quote from: aardvark15 on February 19, 2016, 06:04:57 PM

Let me explain. Bitcoins are constantly being created (mined) but bitcoins are constantly being lost also. The number of bitcoins created per year is decreasing (by design) and we could assume that the number of bitcoins lost keeps increasing every year. If this is true, then at some point the total number of bitcoins available (not lost) would decease because more are being lost than being created. If it hasn't started happening yet, it will sometime in the future.

for sure there are bitcoins being lost every day. idk if the amount being lost is greater than the amount being mined. imo i dont think it is.
but in the future the overall number of bitcoins is only going to go down which is why many people invest in bitcoin.

Roughly 3600 btc mined every day, so no, the amount of lost coins every day isn't even close to comparable to the number of newly created coins.

Exactly! And even if the number of the lost coins were greater so what? How this can be a bad thing or something that put Bitcoin in danger? I think even if half of the coins existed were lost Bitcoin would still function normally as it is now.

Yeah it runs based on the technology without considering the mined coins. At the same the circulation of bitcoin is surely affected or reduced. This will have some impact over the bitcoin price.

I think the percentage of circulation will increase in the future. That is because more people will use it.

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Quote from: Betwrong on April 22, 2016, 03:10:33 AM

Quote from: aardvark15 on February 19, 2016, 06:04:57 PM

Let me explain. Bitcoins are constantly being created (mined) but bitcoins are constantly being lost also. The number of bitcoins created per year is decreasing (by design) and we could assume that the number of bitcoins lost keeps increasing every year. If this is true, then at some point the total number of bitcoins available (not lost) would decease because more are being lost than being created. If it hasn't started happening yet, it will sometime in the future.

for sure there are bitcoins being lost every day. idk if the amount being lost is greater than the amount being mined. imo i dont think it is.
but in the future the overall number of bitcoins is only going to go down which is why many people invest in bitcoin.

Roughly 3600 btc mined every day, so no, the amount of lost coins every day isn't even close to comparable to the number of newly created coins.

Exactly! And even if the number of the lost coins were greater so what? How this can be a bad thing or something that put Bitcoin in danger? I think even if half of the coins existed were lost Bitcoin would still function normally as it is now.

Yeah it runs based on the technology without considering the mined coins. At the same the circulation of bitcoin is surely affected or reduced. This will have some impact over the bitcoin price.

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Quote from: aardvark15 on February 19, 2016, 06:04:57 PM

Let me explain. Bitcoins are constantly being created (mined) but bitcoins are constantly being lost also. The number of bitcoins created per year is decreasing (by design) and we could assume that the number of bitcoins lost keeps increasing every year. If this is true, then at some point the total number of bitcoins available (not lost) would decease because more are being lost than being created. If it hasn't started happening yet, it will sometime in the future.

for sure there are bitcoins being lost every day. idk if the amount being lost is greater than the amount being mined. imo i dont think it is.
but in the future the overall number of bitcoins is only going to go down which is why many people invest in bitcoin.

Roughly 3600 btc mined every day, so no, the amount of lost coins every day isn't even close to comparable to the number of newly created coins.

Exactly! And even if the number of the lost coins were greater so what? How this can be a bad thing or something that put Bitcoin in danger? I think even if half of the coins existed were lost Bitcoin would still function normally as it is now.

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Quote from: Supercrypt on April 22, 2016, 01:23:39 AM

Quote from: aardvark15 on February 19, 2016, 06:04:57 PM

Let me explain. Bitcoins are constantly being created (mined) but bitcoins are constantly being lost also. The number of bitcoins created per year is decreasing (by design) and we could assume that the number of bitcoins lost keeps increasing every year. If this is true, then at some point the total number of bitcoins available (not lost) would decease because more are being lost than being created. If it hasn't started happening yet, it will sometime in the future.

for sure there are bitcoins being lost every day. idk if the amount being lost is greater than the amount being mined. imo i dont think it is.
but in the future the overall number of bitcoins is only going to go down which is why many people invest in bitcoin.

Roughly 3600 btc mined every day, so no, the amount of lost coins every day isn't even close to comparable to the number of newly created coins.

While it's true that bitcoins lost everyday is less compared to newly mined ones, it is still something. If you look at the total value of total bitcoins lost already, it's already a staggering $700+ million worth of bitcoins (according to my research, that is). That's really something.

Yeah very true as many as miners the quantity of bitcoin is decreasing year by year and thats a very bad news for miners because the difficulty of it will be higher and small profit will be gain for mining and for this halving coming specalution of less volume of bitcoin and it will decreased again but the price will up maybe 700$-1000$.

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Quote from: aardvark15 on February 19, 2016, 06:04:57 PM

Let me explain. Bitcoins are constantly being created (mined) but bitcoins are constantly being lost also. The number of bitcoins created per year is decreasing (by design) and we could assume that the number of bitcoins lost keeps increasing every year. If this is true, then at some point the total number of bitcoins available (not lost) would decease because more are being lost than being created. If it hasn't started happening yet, it will sometime in the future.

for sure there are bitcoins being lost every day. idk if the amount being lost is greater than the amount being mined. imo i dont think it is.
but in the future the overall number of bitcoins is only going to go down which is why many people invest in bitcoin.

Roughly 3600 btc mined every day, so no, the amount of lost coins every day isn't even close to comparable to the number of newly created coins.

While it's true that bitcoins lost everyday is less compared to newly mined ones, it is still something. If you look at the total value of total bitcoins lost already, it's already a staggering $700+ million worth of bitcoins (according to my research, that is). That's really something.

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Quote from: Amadues on April 20, 2016, 01:59:47 AM

I think that "lost coins" are only dust in actual btc environment....
Ok in a long terms there are many and many people that are going to lost priv key, access to online account, wrong address etc...
But as a total of 1% of total coins we can lost or more? Well this sums is worthless even....

And do you think that what percentage of current will be added to bitcoin environment and changes total balance of bitcoin.

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I think that "lost coins" are only dust in actual btc environment....
Ok in a long terms there are many and many people that are going to lost priv key, access to online account, wrong address etc...
But as a total of 1% of total coins we can lost or more? Well this sums is worthless even....

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And then there are/will be those who die before having passed on their wallets/private keys to their surviving family members/heirs. Imagine having any significant amount of bitcoins stored anywhere and then unexpectedly dying in a car accident and no way for your family or whoever you would have wanted to have you bitcoins to gain access to them.

Make sure your loved ones will be able to access your bitcoins in the event you pass away.

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Quote from: aardvark15 on February 19, 2016, 06:04:57 PM

Let me explain. Bitcoins are constantly being created (mined) but bitcoins are constantly being lost also. The number of bitcoins created per year is decreasing (by design) and we could assume that the number of bitcoins lost keeps increasing every year. If this is true, then at some point the total number of bitcoins available (not lost) would decease because more are being lost than being created. If it hasn't started happening yet, it will sometime in the future.

for sure there are bitcoins being lost every day. idk if the amount being lost is greater than the amount being mined. imo i dont think it is.
but in the future the overall number of bitcoins is only going to go down which is why many people invest in bitcoin.

Roughly 3600 btc mined every day, so no, the amount of lost coins every day isn't even close to comparable to the number of newly created coins.

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Quote from: aardvark15 on February 19, 2016, 06:04:57 PM

Let me explain. Bitcoins are constantly being created (mined) but bitcoins are constantly being lost also. The number of bitcoins created per year is decreasing (by design) and we could assume that the number of bitcoins lost keeps increasing every year. If this is true, then at some point the total number of bitcoins available (not lost) would decease because more are being lost than being created. If it hasn't started happening yet, it will sometime in the future.

for sure there are bitcoins being lost every day. idk if the amount being lost is greater than the amount being mined. imo i dont think it is.
but in the future the overall number of bitcoins is only going to go down which is why many people invest in bitcoin.

expert4knowledge

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Quote from: Crazygreek on April 16, 2016, 08:12:42 PM

Quote from: Crazygreek on April 16, 2016, 08:12:42 PM

I think the number of available bitcoins is increasing, because there are many miners out there. And if bitcoins decreasing i think it will affect the price of bitcoins.

People talking about bitcoins that idle on wallets of people who wont use it. But bitcoins mining everyday and we have a good stock of bitcoins now so no need to panic

Yes, there are many miners but I do not know that if many of people lose their bitcoin as a result of damage of their offline wallet or events such as dying or losing online wallet account, password, what happens to available bitcoin?

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