So is bitcoin really limited supply or not?

carodupuis

full member

Activity: 382

Merit: 100

Live cams shows pimped with cryptocurrency on Sexy

Quote from: alexzorgo on November 11, 2017, 10:10:15 AM

Quote from: coinycoiny on November 11, 2017, 09:21:43 AM

A year ago there was 15 million bitcoins worth $600 dollars each.

Now there are 16 million worth $6000

and there's also 16 million BCH worth $1200

So looking at BCH the total value is $20 billion. Where the hell did that come from?

Did BTC reduce by $20 billion? As one goes up is the other coming down?

As BCH approaches the value of BTC then it sure as hell looks like we've doubled the coins in circulation.

So my point is this, have we in effect found away around the cap of bitcoins. Every time we see the price go up just split the chain and have more coins.

Bitcoin ≠ BCH. It is possible to make some branches (fork) from the main chain of bitcoin. But all of them become the independent currencies which in no way aren't connected with bitcoin in case of hard-fork. They are pulled together only by a code on initial stage of hard-fork. Subsequently each of them exists only within an own blockchain. The cost of these currencies is determined by the demand and supply in the market but not family relations with a source of an original code

Yes bitcoin is more promising than the bitcoin cash, it is more advantageous than bitcoin cash, it has been the favorite of the people since past years, it has boasted to a high price for last past years. It has got a lot of achievements which other digital currency are unable to get. It has more bright plans for the investors and is giving them good chances to earn money and make their living good, and yes bitcoin is a limited supply.

jseverson

hero member

Activity: 1834

Merit: 759

Quote from: coinycoiny on November 11, 2017, 09:21:43 AM

A year ago there was 15 million bitcoins worth $600 dollars each.

Now there are 16 million worth $6000

and there's also 16 million BCH worth $1200

So looking at BCH the total value is $20 billion. Where the hell did that come from?

Did BTC reduce by $20 billion? As one goes up is the other coming down?

As BCH approaches the value of BTC then it sure as hell looks like we've doubled the coins in circulation.

So my point is this, have we in effect found away around the cap of bitcoins. Every time we see the price go up just split the chain and have more coins.

Bitcoin is independent from Bitcoin Cash and vice versa. They only really seem related because BCH carries Bitcoin's name, and some of its supporters claim that it's the true Bitcoin according to Satoshi's whitepaper. It originated from Bitcoin, yes, but that's as far as the similarities go.

BCH will never approach BTC's value. They pumped pretty hard a few days ago with lots of social media FUD and mempool sabotage, and it only ever reached around 50%, then crashed rapidly afterwards.

The forked coins will only have value if there are people who are willing to pay for them. BCH has a somewhat sizable support population, so it was able to retain some value. No one will pay for indiscriminately forked coins, so no. Splitting the chain continuously can't go around the hard cap.

creeps

full member

Activity: 742

Merit: 144

Quote from: tulakill on November 11, 2017, 09:44:31 AM

The story of the BCH is not simple. The BTC will probably stop at $ 60k, when btc hits the top. it will not go up anymore. Really now the bitcoin value is quite large

We can’t tell that the price of bitcoin will stop on $60k because of limited supply, yes bitcoin is limited and in the future if the demand continues soar high then the price will pump until the supply last.

BlueStackz

legendary

Activity: 1204

Merit: 1028

Quote from: Yakamoto on November 12, 2017, 12:58:22 AM

Quote from: coinycoiny on November 11, 2017, 09:21:43 AM

A year ago there was 15 million bitcoins worth $600 dollars each.

Now there are 16 million worth $6000

and there's also 16 million BCH worth $1200

So looking at BCH the total value is $20 billion. Where the hell did that come from?

Did BTC reduce by $20 billion? As one goes up is the other coming down?

As BCH approaches the value of BTC then it sure as hell looks like we've doubled the coins in circulation.

So my point is this, have we in effect found away around the cap of bitcoins. Every time we see the price go up just split the chain and have more coins.

BTC is in limited supply, as is BCH. It's not like you can use Ethereum on the Bitcoin blockchain; there is nothing that prevents people from making their own altcoins or forks but there are never guarantees that the fork or coin will actually be used. BCH just happens to be gaining because people are using it as a replacement for Bitcoin, so far, as the blockchain starts to grind down due to a huge burden of unconfirmed transactions. There is nothing that can be done about it, really, since the market decides what is best.

Yes bitcoin is a limited supply, it is providing us all the necessary stuff and chances to be rich in very short time, and is launching promising projects for the investors where they can invest and earn some good amount of money in order to make their present good and also keep some safe in lock to so to secure our future, it is helping a person who is not having a regular job to earn enough to meet his financial needs

Yakamoto

legendary

Activity: 1218

Merit: 1007

Quote from: coinycoiny on November 11, 2017, 09:21:43 AM

A year ago there was 15 million bitcoins worth $600 dollars each.

Now there are 16 million worth $6000

and there's also 16 million BCH worth $1200

So looking at BCH the total value is $20 billion. Where the hell did that come from?

Did BTC reduce by $20 billion? As one goes up is the other coming down?

As BCH approaches the value of BTC then it sure as hell looks like we've doubled the coins in circulation.

So my point is this, have we in effect found away around the cap of bitcoins. Every time we see the price go up just split the chain and have more coins.

BTC is in limited supply, as is BCH. It's not like you can use Ethereum on the Bitcoin blockchain; there is nothing that prevents people from making their own altcoins or forks but there are never guarantees that the fork or coin will actually be used. BCH just happens to be gaining because people are using it as a replacement for Bitcoin, so far, as the blockchain starts to grind down due to a huge burden of unconfirmed transactions. There is nothing that can be done about it, really, since the market decides what is best.

Cryptolive

member

Activity: 96

Merit: 10

Why the market cap increases when a fork happens.Where do the money come from.It comes from outside which in turn will go to the fork.

coynedterm

hero member

Activity: 882

Merit: 500

Quote from: coinycoiny on November 11, 2017, 09:21:43 AM

A year ago there was 15 million bitcoins worth $600 dollars each.

Now there are 16 million worth $6000

and there's also 16 million BCH worth $1200

So looking at BCH the total value is $20 billion. Where the hell did that come from?

Did BTC reduce by $20 billion? As one goes up is the other coming down?

As BCH approaches the value of BTC then it sure as hell looks like we've doubled the coins in circulation.

So my point is this, have we in effect found away around the cap of bitcoins. Every time we see the price go up just split the chain and have more coins.

Here you should have positivity with these things because you are saying like you are against the bitcoin technology .
Here everyone knows that bitcoin is limited to 21 millions supply and we can't change that numbers .
And the matter of the new coins like bitcoin cash and bitcoin gold and also that will come in the future are the results of the experiment .
The new coins that generate in the fork are not made by the team forcely but they are usual during the fork , and also here we should see that we are making profit from the new coin to get free of cost by equal amount of the bitcoin that we have in our Wallet before fork .
Here fork is a necessary experiment that is only for the users to give better performance and better speed in the network and also Better low fee per transaction .

hastag_80

member

Activity: 392

Merit: 11

The New Pharma-Centric Marketplace

Quote from: coinycoiny on November 11, 2017, 09:21:43 AM

A year ago there was 15 million bitcoins worth $600 dollars each.

Now there are 16 million worth $6000

and there's also 16 million BCH worth $1200

So looking at BCH the total value is $20 billion. Where the hell did that come from?

Did BTC reduce by $20 billion? As one goes up is the other coming down?

As BCH approaches the value of BTC then it sure as hell looks like we've doubled the coins in circulation.

So my point is this, have we in effect found away around the cap of bitcoins. Every time we see the price go up just split the chain and have more coins.

As far as i know i thinks bitcoin is not in limited supply,only some bitcoiners hold there bitcoins asset to sell it in right time,if the price is in the higher value.maybe the coming of segwit2x affected so much the supply of bitcoin and the change of price of cryptocurrency affect the world of bitcoin and altcoins.

Oulay

member

Activity: 133

Merit: 37

Bitcoin does have a limited supply but splitting the chain won't be a solution for that. currencies coming out of a fork doesn't have any relation to bitcoin and have their own prices which rely on the demand for those coins and as BTH grew it may come down, everything is possible.
But of course the changes in price of one cryptocurrency affects all others not only BTC.

BrewMaster

legendary

Activity: 2128

Merit: 1293

There is trouble abrewing

Quote from: coinycoiny on November 11, 2017, 09:46:52 AM

Quote from: BrewMaster on November 11, 2017, 09:38:54 AM

but if i had to guess, i would say you will never post on bitcointalk using this account ever again after the BCH pump was over...

I thought Eth was being pumped when it was 10 cents.

Well it was but you can see what happened.

and what happened?
eth is still the same pump and dump altcoin with nothing to offer other than a place for ICOs to scam people. and it is now littered with at least 6 major hacks caused by the same developers on their main client leading to millions of dollar lost.
a congested network with a bloated blockchain which makes running a full node for it impossible.
the number of nodes shrinking day by day and will soon fall under 20.
countries banning ICOs which is the only life support it has...

should i go on?

Pleione527

full member

Activity: 266

Merit: 111

Yeah right bitcoin only have limited supply that's the reason why we always experience split in bitcoin this is the solution to sustain the growing demand of bitcoin and perhaps a preparation if time comes that full adaptation will be implemented by most countries. The future of bitcoin is towards to a higher demand and stability this is the main reason why developers of bitcoin needs to make so many research and tactics to keep the market of bitcoin alive

coinycoiny

member

Activity: 273

Merit: 18

Quote from: Red-Apple on November 11, 2017, 09:33:16 AM

same place all the rest of the altcoins come from.

Quote

Thanks for the history lesson, didn't know there had been so many splits.

So just where does that value come from?

alexzorgo

full member

Activity: 630

Merit: 103

Quote from: coinycoiny on November 11, 2017, 09:21:43 AM

A year ago there was 15 million bitcoins worth $600 dollars each.

Now there are 16 million worth $6000

and there's also 16 million BCH worth $1200

So looking at BCH the total value is $20 billion. Where the hell did that come from?

Did BTC reduce by $20 billion? As one goes up is the other coming down?

As BCH approaches the value of BTC then it sure as hell looks like we've doubled the coins in circulation.

So my point is this, have we in effect found away around the cap of bitcoins. Every time we see the price go up just split the chain and have more coins.

Bitcoin ≠ BCH. It is possible to make some branches (fork) from the main chain of bitcoin. But all of them become the independent currencies which in no way aren't connected with bitcoin in case of hard-fork. They are pulled together only by a code on initial stage of hard-fork. Subsequently each of them exists only within an own blockchain. The cost of these currencies is determined by the demand and supply in the market but not family relations with a source of an original code

coinycoiny

member

Activity: 273

Merit: 18

Quote from: BrewMaster on November 11, 2017, 09:38:54 AM

but if i had to guess, i would say you will never post on bitcointalk using this account ever again after the BCH pump was over...

I thought Eth was being pumped when it was 10 cents.

Well it was but you can see what happened.

tulakill

newbie

Activity: 28

Merit: 10

The story of the BCH is not simple. The BTC will probably stop at $ 60k, when btc hits the top. it will not go up anymore. Really now the bitcoin value is quite large

BrewMaster

legendary

Activity: 2128

Merit: 1293

There is trouble abrewing

go to this link and buy me one of the most popular games on steam gaming platform with one of these additional supplies coins:
https://store.steampowered.com/app/730/CounterStrike_Global_Offensive/

use bitcoin cash to buy it, if you could do that without converting bitcoin cash to bitcoin or fiat before making the purchase then you are correct the supply has been increased Wink

but if i had to guess, i would say you will never post on bitcointalk using this account ever again after the BCH pump was over...

NavySeals

sr. member

Activity: 371

Merit: 250

Quote from: Red-Apple on November 11, 2017, 09:33:16 AM

Quote

As BCH approaches the value of BTC then it sure as hell looks like we've doubled the coins in circulation.

ZCash was 7 times more than value of bitcoin, why didn't you say this back then?!!

Very very right point. One coin can surpass bitcoin in price, but this doesn't stop bitcoin's future. Really. We can check and find lots of examples.

Plus, for the supply, bitcoin is not limited, I mean it's being mined and the total number will go until 21 million BTC.

Red-Apple

hero member

Activity: 1470

Merit: 655

Quote from: coinycoiny on November 11, 2017, 09:21:43 AM

and there's also 16 million BCH worth $1200

there will soon also be 16 million worth of BTV (bitcoin silver)
there will also soon be 16 million worth of BTP (bitcoin prime)
and there are also 16 million worth of BTG.
there are also 16 million worth of bitcore

and it doesn't stop there.
there are also 53 million worth of litecoin, or have you forgotten LTC is a fork of bitcoin?
there are also 111 billion worth of Dogecoin which is a fork of litecoin which is in turn fork of bitcoin.
there are billions and billions more...

Quote

So looking at BCH the total value is $20 billion. Where the hell did that come from?

same place all the rest of the altcoins come from.

Quote

As BCH approaches the value of BTC then it sure as hell looks like we've doubled the coins in circulation.

ZCash was 7 times more than value of bitcoin, why didn't you say this back then?!!

Quote

So my point is this, have we in effect found away around the cap of bitcoins. Every time we see the price go up just split the chain and have more coins.

no.

coinycoiny

member

Activity: 273

Merit: 18

A year ago there was 15 million bitcoins worth $600 dollars each.

Now there are 16 million worth $6000

and there's also 16 million BCH worth $1200

So looking at BCH the total value is $20 billion. Where the hell did that come from?

Did BTC reduce by $20 billion? As one goes up is the other coming down?

As BCH approaches the value of BTC then it sure as hell looks like we've doubled the coins in circulation.

So my point is this, have we in effect found away around the cap of bitcoins. Every time we see the price go up just split the chain and have more coins.

Topic: So is bitcoin really limited supply or not? (Read 470 times)