Topic: The Supply of Bitcoin Is Limited. The Supply of Cryptos Isn't! (Read 2214 times)
It's not clear for me on how crypto currency is actually backed up. A friend of mine already explained it and it ended up me just nodding. But what i known is, all crypto currencies, Bitcoin and otherwise, have a limited number of coins. They don't create more and if they did, they price will dip to correct the inclusion of new coins.
August 03, 2018, 02:21:47 AM
It gives us the reason why we want to earn bitcoins more. More miners and earners the more it will limited its supply and in that reason the more rises its price.
I'm badly need to it also. I have limited income even if I've working in a company.
Today people want to use every method of earning Bitcoin. It depends on your personal way go to choose to get your money. For me many ways are comfortable.I'm badly need to it also. I have limited income even if I've working in a company.
This is only one of many variations. The Fed doesn't even have to declare a basket (as mentioned above.) Whatever it buys will rise in value, and will become part of the 'basket'. Whatever it abandons will die out. It will have all the power.
The system will be no different from the early days of gold and silver standards, but with a new twist: there are an unlimited number of new gold and silver mines, and only central banks know where they are!
So, I'm still thinking that gold and silver, whose scarcity is secured by physics, rather than computer code, are the superior forms of money for improving our freedom from governments and bankers.
The system will be no different from the early days of gold and silver standards, but with a new twist: there are an unlimited number of new gold and silver mines, and only central banks know where they are!
So, I'm still thinking that gold and silver, whose scarcity is secured by physics, rather than computer code, are the superior forms of money for improving our freedom from governments and bankers.
Very true point I think. The banks can just look around for new "assets" to buy in order to "back" their currency. Sure, bitcoin is capped at 21 mil, but there are always new ones that they can gobble up and then use that as a reason to keep printing (or issuing a digital version) dollars.
The only thing I see holding them back is risk of snapping up an unworthy coin. Or being tricked into snapping up an unworthy coin by someone who knows exactly what they're doing. This could cause a bit of chaos as the coin collapses or turns out to be a ponzi scheme...
that's what has been designed on bitcoin since the beginning, that the supply is limited to 21 million. while newly emerging altcoins have no supply limit.
So, if Bitcoin really takes off, we think we have an honest, state-free money. No central bank, or anyone, can create bitcoins past the 21 million limit.
Correct? In practice, no.
What Western central banks are doing now is getting us used to the idea of multiple cryptocurrencies being viable. When they use their printed money to buy some new cryptos, their values go up.
One simple example of how they can continue to expand their money supply is to have a basket of cryptos against which they 'manage' exchange rates with dollars, euro, etc. Say, at first this basket contains 1 BTC, 10 ETH, and 100 LTC, and the Fed and US government have an official or unofficial policy of keeping this basket at the price of $100K, with a combination of keeping money printing and public debt under control, and selling the BTC/ETH/LTC in its vaults to scare savers away from moving their dollars into coins.
As time goes on, the Fed will want to create more dollars. (As it always has.) Then they will buy up lots of new cryptocurrency XYZ (cheap) with their dollars, and raise the price of XYZ. After XYZ has 'proven itself in the market with its technical superiority,' the Fed will add it to the basket, and the new basket will be priced at $120K. Since the 'base money' has expanded by 20%, the number of dollars can also be expanded by 20%.
This is only one of many variations. The Fed doesn't even have to declare a basket (as mentioned above.) Whatever it buys will rise in value, and will become part of the 'basket'. Whatever it abandons will die out. It will have all the power.
The system will be no different from the early days of gold and silver standards, but with a new twist: there are an unlimited number of new gold and silver mines, and only central banks know where they are!
So, I'm still thinking that gold and silver, whose scarcity is secured by physics, rather than computer code, are the superior forms of money for improving our freedom from governments and bankers.
Correct? In practice, no.
What Western central banks are doing now is getting us used to the idea of multiple cryptocurrencies being viable. When they use their printed money to buy some new cryptos, their values go up.
One simple example of how they can continue to expand their money supply is to have a basket of cryptos against which they 'manage' exchange rates with dollars, euro, etc. Say, at first this basket contains 1 BTC, 10 ETH, and 100 LTC, and the Fed and US government have an official or unofficial policy of keeping this basket at the price of $100K, with a combination of keeping money printing and public debt under control, and selling the BTC/ETH/LTC in its vaults to scare savers away from moving their dollars into coins.
As time goes on, the Fed will want to create more dollars. (As it always has.) Then they will buy up lots of new cryptocurrency XYZ (cheap) with their dollars, and raise the price of XYZ. After XYZ has 'proven itself in the market with its technical superiority,' the Fed will add it to the basket, and the new basket will be priced at $120K. Since the 'base money' has expanded by 20%, the number of dollars can also be expanded by 20%.
This is only one of many variations. The Fed doesn't even have to declare a basket (as mentioned above.) Whatever it buys will rise in value, and will become part of the 'basket'. Whatever it abandons will die out. It will have all the power.
The system will be no different from the early days of gold and silver standards, but with a new twist: there are an unlimited number of new gold and silver mines, and only central banks know where they are!
So, I'm still thinking that gold and silver, whose scarcity is secured by physics, rather than computer code, are the superior forms of money for improving our freedom from governments and bankers.
That is like you making your own fake dollar and then going outside telling people there are more dollars now. Yet your dollar would be even more worthless.
It's like making copies of the most visited websites and then claiming you are taking their market share.
It gives us the reason why we want to earn bitcoins more. More miners and earners the more it will limited its supply and in that reason the more rises its price.
I'm badly need to it also. I have limited income even if I've working in a company.
Today people want to use every method of earning Bitcoin. It depends on your personal way go to choose to get your money. For me many ways are comfortable. I'm badly need to it also. I have limited income even if I've working in a company.
So, if Bitcoin really takes off, we think we have an honest, state-free money. No central bank, or anyone, can create bitcoins past the 21 million limit.
Correct? In practice, no.
What Western central banks are doing now is getting us used to the idea of multiple cryptocurrencies being viable. When they use their printed money to buy some new cryptos, their values go up.
One simple example of how they can continue to expand their money supply is to have a basket of cryptos against which they 'manage' exchange rates with dollars, euro, etc. Say, at first this basket contains 1 BTC, 10 ETH, and 100 LTC, and the Fed and US government have an official or unofficial policy of keeping this basket at the price of $100K, with a combination of keeping money printing and public debt under control, and selling the BTC/ETH/LTC in its vaults to scare savers away from moving their dollars into coins.
As time goes on, the Fed will want to create more dollars. (As it always has.) Then they will buy up lots of new cryptocurrency XYZ (cheap) with their dollars, and raise the price of XYZ. After XYZ has 'proven itself in the market with its technical superiority,' the Fed will add it to the basket, and the new basket will be priced at $120K. Since the 'base money' has expanded by 20%, the number of dollars can also be expanded by 20%.
This is only one of many variations. The Fed doesn't even have to declare a basket (as mentioned above.) Whatever it buys will rise in value, and will become part of the 'basket'. Whatever it abandons will die out. It will have all the power.
The system will be no different from the early days of gold and silver standards, but with a new twist: there are an unlimited number of new gold and silver mines, and only central banks know where they are!
So, I'm still thinking that gold and silver, whose scarcity is secured by physics, rather than computer code, are the superior forms of money for improving our freedom from governments and bankers.
Yeah it is good to think of the cryptocurrency in this way for us to avoid expensive transaction fee being made from the banks and other centralized establishment. But one thing that we will going to miss is the service of these people for whenever there is a problem in the transactions no one will assist for us to do it and if you commit a mistake then you could never undo any transactions being made. This is how why cryptocurrency is not yet being adapted but these banks nowadays are thinking of this already since it will be another multi million business. Correct? In practice, no.
What Western central banks are doing now is getting us used to the idea of multiple cryptocurrencies being viable. When they use their printed money to buy some new cryptos, their values go up.
One simple example of how they can continue to expand their money supply is to have a basket of cryptos against which they 'manage' exchange rates with dollars, euro, etc. Say, at first this basket contains 1 BTC, 10 ETH, and 100 LTC, and the Fed and US government have an official or unofficial policy of keeping this basket at the price of $100K, with a combination of keeping money printing and public debt under control, and selling the BTC/ETH/LTC in its vaults to scare savers away from moving their dollars into coins.
As time goes on, the Fed will want to create more dollars. (As it always has.) Then they will buy up lots of new cryptocurrency XYZ (cheap) with their dollars, and raise the price of XYZ. After XYZ has 'proven itself in the market with its technical superiority,' the Fed will add it to the basket, and the new basket will be priced at $120K. Since the 'base money' has expanded by 20%, the number of dollars can also be expanded by 20%.
This is only one of many variations. The Fed doesn't even have to declare a basket (as mentioned above.) Whatever it buys will rise in value, and will become part of the 'basket'. Whatever it abandons will die out. It will have all the power.
The system will be no different from the early days of gold and silver standards, but with a new twist: there are an unlimited number of new gold and silver mines, and only central banks know where they are!
So, I'm still thinking that gold and silver, whose scarcity is secured by physics, rather than computer code, are the superior forms of money for improving our freedom from governments and bankers.
True. Aside from the limited supply, you have to consider the lost coins that you can't get again. Even if crypto currencies are generated by a computer code it is still a limited coin. It doesn't mean that it is unlimited. We could always see market caps and such. If it is unlimited then decentralized or no, it will collapse.
Yeah many people now are mining small coins. The reason is the demand of bitcoin. In these days the supply of bitcoin is high and the demand is low and that is the big reason for fall in the price. If the supply for bitcoin was low the price will be very high but we see that the price of bitcoin is too low and is on the way down. Today the price is less than $6000.That was good read. It is very scary though and it could really happen in the future. But I'd like to stick to crypto currency that precious metals like gold and silver. I mean it hasn't brought me down yet. But I'd take your advise and be wary. I mean it's always smart to prepare for the worse. But then again, I'm no expert in this matter.
For you to not be afraid or scared for the future then don't depend on one source of income only and try to do and build multiple streams of income so you will not become afraid or scared of downfall of one of your sources of income because if you will not do diversification then you will suffer the consequences of that risky decision.So you should give yourself the opportunity to make other money to increase the income
Income earning opportunities are distributed by group
Then invest in finance.
If you win, you have: profit
And if it loses then it is a lesson and then again from the beginning.
That's why there's a lot of altcoins because the price of bitcoin keeps increasing and the fee is higher. Many miners are changing to other coins that will give them profit faster than BTC. There are coins that are real cases and limited supply.
It gives us the reason why we want to earn bitcoins more. More miners and earners the more it will limited its supply and in that reason the more rises its price.
I'm badly need to it also. I have limited income even if I've working in a company.
I'm badly need to it also. I have limited income even if I've working in a company.
But going for real-time shares very well popularity. More more people believe that they can mine and earn with Bitcoin. For real time I am using mining too.
So, if Bitcoin really takes off, we think we have an honest, state-free money. No central bank, or anyone, can create bitcoins past the 21 million limit.
Correct? In practice, no.
What Western central banks are doing now is getting us used to the idea of multiple cryptocurrencies being viable. When they use their printed money to buy some new cryptos, their values go up.
One simple example of how they can continue to expand their money supply is to have a basket of cryptos against which they 'manage' exchange rates with dollars, euro, etc. Say, at first this basket contains 1 BTC, 10 ETH, and 100 LTC, and the Fed and US government have an official or unofficial policy of keeping this basket at the price of $100K, with a combination of keeping money printing and public debt under control, and selling the BTC/ETH/LTC in its vaults to scare savers away from moving their dollars into coins.
As time goes on, the Fed will want to create more dollars. (As it always has.) Then they will buy up lots of new cryptocurrency XYZ (cheap) with their dollars, and raise the price of XYZ. After XYZ has 'proven itself in the market with its technical superiority,' the Fed will add it to the basket, and the new basket will be priced at $120K. Since the 'base money' has expanded by 20%, the number of dollars can also be expanded by 20%.
This is only one of many variations. The Fed doesn't even have to declare a basket (as mentioned above.) Whatever it buys will rise in value, and will become part of the 'basket'. Whatever it abandons will die out. It will have all the power.
The system will be no different from the early days of gold and silver standards, but with a new twist: there are an unlimited number of new gold and silver mines, and only central banks know where they are!
So, I'm still thinking that gold and silver, whose scarcity is secured by physics, rather than computer code, are the superior forms of money for improving our freedom from governments and bankers.
Bitcoin supply is limited but that doesn’t make other cryptocurrencies to be better than it. We haven’t even reached the limit yet, which 21 million and that’s a huge number. And one other thing you should know is that as there are people buying Bitcoin, there are also people that are selling their Bitcoin out, so it goes in a circle. If you want to buy Bitcoin there will always be enough for you to buy. Correct? In practice, no.
What Western central banks are doing now is getting us used to the idea of multiple cryptocurrencies being viable. When they use their printed money to buy some new cryptos, their values go up.
One simple example of how they can continue to expand their money supply is to have a basket of cryptos against which they 'manage' exchange rates with dollars, euro, etc. Say, at first this basket contains 1 BTC, 10 ETH, and 100 LTC, and the Fed and US government have an official or unofficial policy of keeping this basket at the price of $100K, with a combination of keeping money printing and public debt under control, and selling the BTC/ETH/LTC in its vaults to scare savers away from moving their dollars into coins.
As time goes on, the Fed will want to create more dollars. (As it always has.) Then they will buy up lots of new cryptocurrency XYZ (cheap) with their dollars, and raise the price of XYZ. After XYZ has 'proven itself in the market with its technical superiority,' the Fed will add it to the basket, and the new basket will be priced at $120K. Since the 'base money' has expanded by 20%, the number of dollars can also be expanded by 20%.
This is only one of many variations. The Fed doesn't even have to declare a basket (as mentioned above.) Whatever it buys will rise in value, and will become part of the 'basket'. Whatever it abandons will die out. It will have all the power.
The system will be no different from the early days of gold and silver standards, but with a new twist: there are an unlimited number of new gold and silver mines, and only central banks know where they are!
So, I'm still thinking that gold and silver, whose scarcity is secured by physics, rather than computer code, are the superior forms of money for improving our freedom from governments and bankers.
That was good read. It is very scary though and it could really happen in the future. But I'd like to stick to crypto currency that precious metals like gold and silver. I mean it hasn't brought me down yet. But I'd take your advise and be wary. I mean it's always smart to prepare for the worse. But then again, I'm no expert in this matter.
For you to not be afraid or scared for the future then don't depend on one source of income only and try to do and build multiple streams of income so you will not become afraid or scared of downfall of one of your sources of income because if you will not do diversification then you will suffer the consequences of that risky decision. The market has been issuing different kinds of encryption, and it feels like there's no end to it. Although the total amount of BTC is limited, encryption has been issued all the time, which will also have adverse effects on the market.
Fair enough! Buy no mater how many crypto does the market issues, what maters is the project on the back of the crypto issued. Bitcoin being limited is something that is a type of shortcoming because we can have up to 21 million Bitcoin and non after that but I hope another 21 million Bitcoin could be added to the current stock as well. I have heard so that the number might rise. This will rise the demand as well and we might have the Bitcoin growth very rapidly.
That was good read. It is very scary though and it could really happen in the future. But I'd like to stick to crypto currency that precious metals like gold and silver. I mean it hasn't brought me down yet. But I'd take your advise and be wary. I mean it's always smart to prepare for the worse. But then again, I'm no expert in this matter.
So, if Bitcoin really takes off, we think we have an honest, state-free money. No central bank, or anyone, can create bitcoins past the 21 million limit.
Correct? In practice, no.
What Western central banks are doing now is getting us used to the idea of multiple cryptocurrencies being viable. When they use their printed money to buy some new cryptos, their values go up.
One simple example of how they can continue to expand their money supply is to have a basket of cryptos against which they 'manage' exchange rates with dollars, euro, etc. Say, at first this basket contains 1 BTC, 10 ETH, and 100 LTC, and the Fed and US government have an official or unofficial policy of keeping this basket at the price of $100K, with a combination of keeping money printing and public debt under control, and selling the BTC/ETH/LTC in its vaults to scare savers away from moving their dollars into coins.
As time goes on, the Fed will want to create more dollars. (As it always has.) Then they will buy up lots of new cryptocurrency XYZ (cheap) with their dollars, and raise the price of XYZ. After XYZ has 'proven itself in the market with its technical superiority,' the Fed will add it to the basket, and the new basket will be priced at $120K. Since the 'base money' has expanded by 20%, the number of dollars can also be expanded by 20%.
This is only one of many variations. The Fed doesn't even have to declare a basket (as mentioned above.) Whatever it buys will rise in value, and will become part of the 'basket'. Whatever it abandons will die out. It will have all the power.
The system will be no different from the early days of gold and silver standards, but with a new twist: there are an unlimited number of new gold and silver mines, and only central banks know where they are!
So, I'm still thinking that gold and silver, whose scarcity is secured by physics, rather than computer code, are the superior forms of money for improving our freedom from governments and bankers.
I don’t really get what you are saying here🤔 does the central banks buy crypto? Sorry I don’t think so man, they don’t have anything to d9 with it. Bitcoin is only being invested in by the people, that’s we and the central banks has nothing to do with it. Correct? In practice, no.
What Western central banks are doing now is getting us used to the idea of multiple cryptocurrencies being viable. When they use their printed money to buy some new cryptos, their values go up.
One simple example of how they can continue to expand their money supply is to have a basket of cryptos against which they 'manage' exchange rates with dollars, euro, etc. Say, at first this basket contains 1 BTC, 10 ETH, and 100 LTC, and the Fed and US government have an official or unofficial policy of keeping this basket at the price of $100K, with a combination of keeping money printing and public debt under control, and selling the BTC/ETH/LTC in its vaults to scare savers away from moving their dollars into coins.
As time goes on, the Fed will want to create more dollars. (As it always has.) Then they will buy up lots of new cryptocurrency XYZ (cheap) with their dollars, and raise the price of XYZ. After XYZ has 'proven itself in the market with its technical superiority,' the Fed will add it to the basket, and the new basket will be priced at $120K. Since the 'base money' has expanded by 20%, the number of dollars can also be expanded by 20%.
This is only one of many variations. The Fed doesn't even have to declare a basket (as mentioned above.) Whatever it buys will rise in value, and will become part of the 'basket'. Whatever it abandons will die out. It will have all the power.
The system will be no different from the early days of gold and silver standards, but with a new twist: there are an unlimited number of new gold and silver mines, and only central banks know where they are!
So, I'm still thinking that gold and silver, whose scarcity is secured by physics, rather than computer code, are the superior forms of money for improving our freedom from governments and bankers.
Unless you’re trying to say the whales, cause they are the ones that are always pumping thr price and dumping. And of course, bitcoin will stop at 21 million and that’s still a long time from now, and then are also lots of crypto in the market.
I think it is some strategies that bitcoin makes for us. 21 million is enough for real time. But if you look in the future it must be more. Maybe in a few years, it will become about 30 million. It will be enough for the new people who invest in it.
I don't think so, 21M for life
It gives us the reason why we want to earn bitcoins more. More miners and earners the more it will limited its supply and in that reason the more rises its price.
I'm badly need to it also. I have limited income even if I've working in a company.
I'm badly need to it also. I have limited income even if I've working in a company.
People for today understand the best opportunities of not limited incoming. If I was working for a company I had stability in my money. Sure I can and much more here working with Bitcoin.
The fact that there is a certain amount of bitcoin, it is certainly a big plus for the coin. This is fundamentally different from Fiat money, which can be baked, there would be paper ))) But I care about the fact that today there are a lot of unnecessary coins in the crypto-currency market, called altcoins. It's rubbish. How to deal with it and what will be more difficult to imagine.
So, if Bitcoin really takes off, we think we have an honest, state-free money. No central bank, or anyone, can create bitcoins past the 21 million limit.
Correct? In practice, no.
What Western central banks are doing now is getting us used to the idea of multiple cryptocurrencies being viable. When they use their printed money to buy some new cryptos, their values go up.
One simple example of how they can continue to expand their money supply is to have a basket of cryptos against which they 'manage' exchange rates with dollars, euro, etc. Say, at first this basket contains 1 BTC, 10 ETH, and 100 LTC, and the Fed and US government have an official or unofficial policy of keeping this basket at the price of $100K, with a combination of keeping money printing and public debt under control, and selling the BTC/ETH/LTC in its vaults to scare savers away from moving their dollars into coins.
As time goes on, the Fed will want to create more dollars. (As it always has.) Then they will buy up lots of new cryptocurrency XYZ (cheap) with their dollars, and raise the price of XYZ. After XYZ has 'proven itself in the market with its technical superiority,' the Fed will add it to the basket, and the new basket will be priced at $120K. Since the 'base money' has expanded by 20%, the number of dollars can also be expanded by 20%.
This is only one of many variations. The Fed doesn't even have to declare a basket (as mentioned above.) Whatever it buys will rise in value, and will become part of the 'basket'. Whatever it abandons will die out. It will have all the power.
The system will be no different from the early days of gold and silver standards, but with a new twist: there are an unlimited number of new gold and silver mines, and only central banks know where they are!
So, I'm still thinking that gold and silver, whose scarcity is secured by physics, rather than computer code, are the superior forms of money for improving our freedom from governments and bankers.
Governments are cheaters that is the lesson we must learn and never forget, while I like gold and silver and those two elements were the main form of money for thousands of years governments found a way to cheat them and even if someone tried to establish a gold standard it will fail since governments will always try to get some unfair benefit and this same principle applies to bitcoin and altcoins. Correct? In practice, no.
What Western central banks are doing now is getting us used to the idea of multiple cryptocurrencies being viable. When they use their printed money to buy some new cryptos, their values go up.
One simple example of how they can continue to expand their money supply is to have a basket of cryptos against which they 'manage' exchange rates with dollars, euro, etc. Say, at first this basket contains 1 BTC, 10 ETH, and 100 LTC, and the Fed and US government have an official or unofficial policy of keeping this basket at the price of $100K, with a combination of keeping money printing and public debt under control, and selling the BTC/ETH/LTC in its vaults to scare savers away from moving their dollars into coins.
As time goes on, the Fed will want to create more dollars. (As it always has.) Then they will buy up lots of new cryptocurrency XYZ (cheap) with their dollars, and raise the price of XYZ. After XYZ has 'proven itself in the market with its technical superiority,' the Fed will add it to the basket, and the new basket will be priced at $120K. Since the 'base money' has expanded by 20%, the number of dollars can also be expanded by 20%.
This is only one of many variations. The Fed doesn't even have to declare a basket (as mentioned above.) Whatever it buys will rise in value, and will become part of the 'basket'. Whatever it abandons will die out. It will have all the power.
The system will be no different from the early days of gold and silver standards, but with a new twist: there are an unlimited number of new gold and silver mines, and only central banks know where they are!
So, I'm still thinking that gold and silver, whose scarcity is secured by physics, rather than computer code, are the superior forms of money for improving our freedom from governments and bankers.
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