Will Bitcoin be infinite? - page 4. | Bitcointalksearch.org

so98nn

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Quote from: Tina H on July 08, 2021, 01:42:00 AM

The Simpsons, in an episode of the 32nd season, data on the virtual market shows that the development of Bitcoin is a symbol of infinity. For us, green means rising.
Do you think Bitcoin will be unlimited in the future?

I have good thought on this: The price might be unlimited one day, but BTC is gonna be 21 million no matter what! That's how it was minted by the owner. What can happen is, there could be a day when you will have to count big stash for few Satoshi's and that's how it can be unlimited asset. Obviously this is perspective of the user, whether they are looking at BTC from the fiat point of view or the bitcoin unlimited point of view.

Bitcoin is not itself unlimited and after the last coin is mined, we will chase the other users bitcoin, trade them store them so that the value will rise. The demand and supply formula will work at it's best by this point.

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Quote from: Tina H on July 08, 2021, 01:42:00 AM

The Simpsons, in an episode of the 32nd season, data on the virtual market shows that the development of Bitcoin is a symbol of infinity. For us, green means rising.
Do you think Bitcoin will be unlimited in the future?

what do you mean by unlimited price?
I don't think so. it's just that the price of bitcoin will continue to increase if there are more and more users. and that doesn't mean the price will go up too, it will still be the same as it is now there are times when the market will be green and sometimes it will be red.

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Quote from: Caldear on July 09, 2021, 02:50:07 AM

But the value of Bitcoin is unlimited. Because of the scarcity of Bitcoin, Bitcoin has a certain value.

How to contradict yourself in one line.

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Nah, I don't thin bitcoin are going to be infinite. The halving process will make sure they the amount of bitcoins we become will go down towards 0. Eventually mining doesn't become profitable anymore.

For a 5-year-old member, how can you say this?
Is now bitcoin mining profitable for you? If everyone quits mining will it be profitable for the one single miner left or not?
What about the fees, those will not split in half, for the entire year we had close to 10-15% fee in reward ratio and we're still at 6.25 per block, even with those empty blocks mined lately and near-empty mempool we're still getting more than 24BTC in fees in 24h.

Apart from this, there is one thing people should understand about this infinite value.
Assuming we change the protocol, we switch to 100 BTC mined a block, 14,400 coins a day, 5,256,000 coins a year, one million years from now!!!! Grin

we will still have only 5 trillion coins! How close are we to ∞ ? No coin is really infinite, they have an unlimited supply but at any given time that number has a value, no matter how big it is.

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Infinite is a weird word, like it should be.... never ending? Unlimited? I still think that "one day" bitcoin will be something gone, it will not be around, this could be 100 years, this could be a thousand years or who knows maybe tomorrow because tbf we never know, it is a tech thing and maybe they will find quantum computing which can wreck havoc in all of crypto in a nanosecond, none of that is known.

However I am sure it is not going to be unlimited, it is 21 million and it will stay that way as long as it keeps being decentralized, we are just way too secure for that to happen, the day that changes means the day bitcoin dies and nobody wants it to die like that. So all in all I would say that in amount it will be finite, but in time it will once again be finite, the only thing that is "infinite" is the price, which is always up and down so we can't exactly say it has a limit.

Liamttw

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I think the point you want to make is not clear, and I don't know whether the quantity or the price you want to say. In terms of quantity, the number of bitcoins is fixed. But the value of Bitcoin is unlimited. It is precisely because of the scarcity of the quantity and the increase of people's demand for it that the value of Bitcoin will continue to increase.

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Quote from: Tina H on July 08, 2021, 10:56:13 PM

Quote from: Ucy on July 08, 2021, 04:32:38 AM

Unlimited in what way? You mean the total supply or something else? I have seen a figure that looks like horizontal 8 used in representing infinity but don't know what that's really about. Is that what you mean by infinity? Hope you can explain what you mean to help me determine if it's possible with Bitcoin. Just hope it's not about Bitcoin supply.

Yes, I am not referring to the total supply, because this is known and the maximum supply cap is set. I want to know its value, can it be infinite, thanks for the reply to make me understand now.

If by that you mean what society and people can use Bitcoin for is infinite then I would agree to some extent as long as it is used for good alone. Afterall it's decentralized and has can be freely used by free people without limit unlike centralized systems.
One of the features that can be used for lots of things is the private keys. You could absolutely use it for lot of things including locking your door and other private properties and truely feel safe because nobody but you knows the keys to unlock them. I have never really like the centralized digital locks.

But if you mean the price going up continously without end, that will also depend on whether it can continue to be useful without end

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Quote from: Tina H on July 08, 2021, 10:56:13 PM

Quote from: Ucy on July 08, 2021, 04:32:38 AM

...

Yes, I am not referring to the total supply, because this is known and the maximum supply cap is set. I want to know its value, can it be infinite, thanks for the reply to make me understand now.

The price of Bitcoin must have a limit...

I'm not sure the value of Bitcoin will be higher than $1 million. it is impossible that the price of 1 Bitcoin will reach $50 million or $100 million. maybe others think the same as me.

Caldear

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Bitcoin's supply is fixed and limited, and it cannot be issued unlimitedly.
But the value of Bitcoin is unlimited. Because of the scarcity of Bitcoin, Bitcoin has a certain value. With the recognition of Bitcoin in some regions, and even some countries adopting Bitcoin as legal currency, people's demand will increase, and the value of Bitcoin will also increase. Therefore, the value of Bitcoin has unlimited potential.

Roy Asher

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In terms of supply, there is nothing in the world that can be provided indefinitely. But if it is value, Bitcoin has no upper limit in my opinion. It has this potential. As time goes by, more and more people will accept it, and its value will be higher.

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Quote from: Ucy on July 08, 2021, 04:32:38 AM

Unlimited in what way? You mean the total supply or something else? I have seen a figure that looks like horizontal 8 used in representing infinity but don't know what that's really about. Is that what you mean by infinity? Hope you can explain what you mean to help me determine if it's possible with Bitcoin. Just hope it's not about Bitcoin supply.

Yes, I am not referring to the total supply, because this is known and the maximum supply cap is set. I want to know its value, can it be infinite, thanks for the reply to make me understand now.

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Bitcoin is not infinite its number is limited and very few people know how to use bitcoin rises to the top based on its demand. With the rise in the price of bitcoin development gradually increased and helped to brighten the future the contribution of a country's central bank is infinite the central bank has to act prudently in the event of various financial scandals or market turmoil in some cases, central banks have come under fire. But the central bank has to review the whole economic situation and take any policy decision that will affect all the people in the society.

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21M coins is certainly a very low number for more than 8Billion people in the world. You can't say BTC is infinite but 1 BTC has 8 digits though which you one person could own just 10,000 satoshis (0.00010000 BTC) this is a lot when in the future price skyrockets such they predicted as 1BTC = $1M.

What is going to make it infinite I think is the synthetic assets like wBTC and rBTC.

Kiley33

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The number of bitcoins is limited. The total amount is 21 million pieces. This is known to everyone, so the number of Bitcoins is limited.
The price of Bitcoin fluctuates up and down and cannot be unlimited, which is also unreasonable.
Through the supply and demand of Bitcoin and the recognition of Bitcoin, it can be said that the value of Bitcoin is unlimited. In the future, Bitcoin will definitely develop with the advancement of technology. It can be said that the future of Bitcoin is unlimited.

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I think I've watched that small scene and that pertains to the unlimited value of bitcoin. We all know that bitcoin is limited in supply so that's certain to the value of bitcoin with that infinite symbol. @OP, we'll never know how much bitcoin will be in the future but as such described in that episode, the author or Matt thinks that the future value of bitcoin is going to rise into infinity that we're all be surprised because there's a real potential that its price will grow as high as we can think.

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Quote from: Felimon on July 08, 2021, 12:29:02 PM

i feel what you say is correct because the price of BTC will keep increasing over time and maybe in the future the value of 1 BTC will be a value of infinity but if you are saying the supply of BTC is infinite then we have to review the value of BTC in the future will be like?.

I think everything what we have at the moment might only vanish in the end or it will keep fourishing until its value becomes very high already. The value of bitcoin will keep in surging because as every year comes, the demand for bitcoin becomes excessive too but i don't think its supply will reach into infinity as everything will have no clear destination in the end. We'll know then when we will reach that point.

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I hoped that OP would have clarified us by what he or she meant by finite. So many have asked and yet no response. It almost seems like OP is watching the thread he or she created but, I really hope that's not it and perhaps, OP is just engaged with other things. Anyway, should it be about the supply, we all know that to be finite and the date at which the last bitcoin would be mined has already been speculated to be around 2040, thats if I recall correctly.
For the price or value, uts always going yo depend on the laws of demand and supply. Though supply may be finite, the liquidity would always vary and the value or price would vary as such.

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Bitcoin is unlimited now and even in the future. The supply seem limited but the pricing of bitcoin and it's value are not. The reason for infinite nature of bitcoin is decentralize and uncontrollable phenomenon of bitcoin and that means demand and supply are not controllable which makes price not fixed but fluctuating.

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Quote from: NeuroticFish on July 08, 2021, 08:23:26 AM

1. No unlimited price. The price cannot get to infinite, it will always have a clear value.

This!
Every single time a bitcoin is sold, bought, traded, exchanged, used it will be at a price and a ratio against something, it will not be something like "I will give you on satoshi and you give me unlimited dollars/gold/hotdogs forever". It will always have a value even if there is only one satoshi left in the world and the entire galaxy is using a quintillionth of a satoshi as a standard denomination.

Infinity is an abstract concept, it has no place in a real economy.

And I remember that Simpsons episode, the infinity was about the change in price, nothing else.

Even if we talk about the numbers of coins, assuming we change the protocol and there will be no more halving and we keep minting coins with every block, there will still be a number of x coins at any given y time. Even 10 trillion years in the future the number will be of a value, x or z, not infinity.

Quote from: Hydrogen on July 08, 2021, 12:16:40 PM

Which could translate to value appreciation, as long as people continue to use bitcoin. In that sense btc might be as close to infinite as anything humans create.

Bitcoin would not be able to reach quadrillions of trillions if there is nothing of that value in the world for it to reflect that, before Bitcoin would be able to grow near-infinite humans would have to create stuff that is worth near infinite. So, who will be first, the chicken or the egg? Grin

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i feel what you say is correct because the price of BTC will keep increasing over time and maybe in the future the value of 1 BTC will be a value of infinity but if you are saying the supply of BTC is infinite then we have to review the value of BTC in the future will be like?.

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Bitcoin's growth potential might be defined as infinite ∞.

Every year some bitcoin is lost and unrecoverable. Someone forgets their private key or password. Or unfortunately passes away, leaving their next of kin without a means of recovering lost coins. Bitcoin's supply shrinks as a result, making BTC a more scarce asset.

If bitcoin were defined purely in terms of increasing scarcity alone. By a growing quantity of coins that were lost and couldn't be recovered. Its growth potential in value, might be defined as infinite. Being that the trend will continue as long as people continue to utilize btc. Which could translate to value appreciation, as long as people continue to use bitcoin. In that sense btc might be as close to infinite as anything humans create.

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