Topic: Will the need to increase BTC's max supply arise in the future? - page 2. (Read 790 times)

Exactly. You and I won't be able to live by the time all Bitcoins are mined on the network. Increasing the max supply is more of a future concern than anything else. In case prices remain the same or go down the drain, developers will need to find a solution in order to maintain miners on the Blockchain. Since rewards will be paid solely off fees, miners will depend heavily on Bitcoin's price on the market. If development continues, I'd expect people to use "satoshis" via the Lightning Network for mainstream payments in the long term. By 2100, future generations might be dealing with very small fractions of a Bitcoin that are worth cents (in USD). Based on my calculations, there will be a total of 21 quadrillion "satoshis" on the network. I think that increasing BTC's max supply could make matters worse as it could devaluate the cryptocurrency on the market.

Nonetheless, there are far more important things to focus on making Bitcoin a better cryptocurrency for all. Increasing the supply is not mandatory for Bitcoin's mainstream adoption. Putting scalability and decentralization above all else, could allow Bitcoin to survive far beyond 2100. At least, we don't need to worry about Bitcoin reaching its maximum supply in our lifetimes. There's plenty of "room" for everyone with Bitcoin's current hard cap in supply. Just my thoughts

We have a long journey ahead before Bitcoin reaches 21 million coins in circulation. Both you and I won't be able to live by the time all Bitcoins have been mined (which is the year of 2100). If Bitcoin remains actively popular, developers will continue to work on scalable solutions for people to be able to pay with satoshis. We already have the Lightning Network, so my guess is that people will be using it massively for micropayments using BTC's smallest denomination (which is 1 satoshi) in the future.

As I've said before, there will only be 21 quadrillion satoshis in existence. I think that's more than enough for all of the people in the world today. Knowing that not everyone will use Bitcoin for mainstream transactions, makes me think that Bitcoin's max supply of 21 millions coins is just fine. But no one knows for sure what will happen in the future. If developers decide to increase BTC's max supply to a much higher value, it might negatively impact Bitcoin's price. That is if they want Bitcoin to be used as digital cash instead of a store of value. But I doubt they'll go this route, as Bitcoin will be able to "live fine" with the Lightning Network enabling people to transact in satoshis further expanding its possibilities in the mainstream world. Just my thoughts

Halving will be useless if the max supply of bitcoin is increase. However, bitcoin won't crash even if it max supply happen to be increase cause it something Vitalik have done with ETH which didn't affect ETH price with quality but I don't think that what we need now concern bitcoin because there are more important thing we ought to focus in not max supply increase. 

No matter the need that arises in the future, the need to increase Bitcoin total supply is not possible as it has been enshrined in the white paper. The total circulation remains constant and that is the more reason why the scarcity will further increase the price and also increase the demand for it.

true and we can be two of that , that will be lost when it comes to supporting bitcoin because we dont want to increase its supply but if there are leavers there were also joiners or people that will put more trust on btc because i heard there are people that wants  btc supply to be boosted .

 the issue is hard but its nice to know that btc are  still being accepted no matter what are devs planning to do with it .

Indeed, this feature is called scarcity, meaning, the lower its volume and the higher the demand, the higher the price of each BTC could be and people in the future even today will value satoshis. I just wonder what could happen if all of the BTC's will be mined, will bitcoin attracts further? The reason I am worried about that is because I believe that miners perform a very essential role in order to make the price of bitcoin high. Related to bitcoin halving, there will be a small mining reward for the future blocks.

Wont really be that necessary and if there would be alterations or additions then it will just surely lost its supporters towards bitcoin since they do know that they can do adding up a supply if they wanted to.
Just let it as it should be and we'll be fine.Hence, the last bitcoin would be mined in 2140+ as far as i remember. 21M would be just enough and even if it would be on that global adoption scale then we do
know that it can really be partitioned or divided on smaller units but though we do also know that there are lots who do own 1 btc into their wallets.So as usual there would really be an another issue
of uneven wealth distribution but its too early to mind of such thing but talking about potential then most likely we would really be heading there.

I don't think the developers are even thinking about this.

If we will be thinking about it, we've been finding a solution to this as a problem because there will be a lot of people using it in the future. That means the demand of it is so high the reason I think that it will not be needed because the value or price of Bitcoin will be so high that even the smallest denomination will be of a good price.

One of the main Bitcoin's feature is its divisibility. Bitcoin is divisible into 100 million units and its smallest unit is called a Satoshi. That's why there is no need to have more than 21M Bitcoins.

The goal for 4 years to reduce the number of bitcoins mined in a block is to increase the scarcity of bitcoins. I think that if you increase the number of bitcoins, the halving won't make much sense and bitcoin will crash. Bitcoin is currently at its best and bitcoin only has 21 million coins.

If it did then what would be the difference between BTC and any FIAT currency? If you think about it, there would be no difference since you cannot say that it is anonymity since it is increasingly regulated and will continue to be. So that's why I think the MAX SUPPLY shouldn't change. Only time will tell for now deflation has been working. Just look at its price and see where it started.

Hmm..But what about the technical aspect of this idea? I think it can never be the same because they are in different version as you have stated. It will just be like oil and water where it could not be mixed together. It will just create technical issues in the future especially when it comes to transferring or exchange of bitcoins. Two versions of bitcoin may be a good idea but let us wait for the developer for if it is really necessary to add btc supply or remain that way. Supply is not a problem because anyone can buy bitcoin in parts and prices will just going to have a good volatility due to lowers btc supply than adding more btc supply in the market.

No, it will depend on how it will be manage. In my own opinion it is better to create bitcoin version 2 and then waiti for time to come that both bitcoin version will reach the same market price and merge together. So, this can make bitcoin supply to increase and double its figure from 21M then it will go on 42M btc supply. However, I do not know how things will going to work but this is something I am positive that it is possible to do like that way. Well who knows one day it will be happening.

I don't think increasing the amount of bitcoins is happening because it makes sense for a 4-year block reward reduction to increase the rarity of bitcoin. If an increase in the number of bitcoins occurs, it is certain that the value of bitcoin will decrease and both investors and users will switch to a better cryptocurrency.

maybe need for additional btc upgrades in the future, but i am worried if the addition of btc supply in the future will affect btc prices. because we know if it will make btc more and more people hunt and the price in the market may decrease and bitcoin is not a superior coin in the future

Good point. Since Bitcoin is divisible to 8 units, there might be no need to increase the max supply in the future. If prices go all the way to the moon, people might be transacting with "satoshis" instead of a Bitcoin. In the future, it's expected for Bitcoin to boost its transaction capacity like never before. It's hoped that the Lightning Network gains massive adoption in the mainstream world, making "satoshi" payments (micropayments) practical once more.

Based on my calculations, there will ever be 2,100,000,000,000,000 satoshis in existence (21 max supply / 1 satoshi). That's plenty enough Bitcoins for anyone to use worldwide. In case fees become too high relative to Fiat, people will pay less for their transaction to go through the Blockchain. That is of course, if people know how to set their own fees in their wallet of choice. With so many Bitcoin-based forks available today, the max supply of 21 millions coins has been virtually expanded. The main Bitcoin blockchain might be able to last for long with its hard-coded maximum supply for the foreseeable future. Future generations will have to see if Bitcoin will be able to live up to the standards after the year of 2100. Just my thoughts

yes maybe if the supply of bitcoin will be increased in the future because there are more bitcoin users. Besides that, the price of bitcoin will continue to rise as users and buyers in the crypto market continue to increase. if the supply of bitcoin is still as much as 21 million coins in the future, but bitcoin is still alive at a price that is much higher than the price of bitcoin today.

Bitcoin could be devided for very low part, we dont need to increase it supply while we can use 1 satoshi

The total supply of fiat currency wont be enough to purchase by one entity so there is nothing much to worry about a single whale purchasing all the coins. The basic thing you need to understand is that the price of bitcoin is rallying because of the so called whales who have the purchasing power to hold the market.

@OP i hope no one would be dumb enough to increase the supply as it will have an impact on the price and it is better not to mess with that, the valuation will crash if that happens.

I see only 21 million bitcoins that will remain in the crypto cycle forever, because if there must be additional bitcoins I think it will make bitcoin have a low price and the price decline is out of control. so it would be better if the bitcoin price remains where it is today