Will the number of bitcoins increase in the future?

Orexium

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Quote from: Khurram Bin Kamal on November 10, 2017, 04:41:36 PM

Satoshi was a clever person and he anticipated every aspect of Bitcoin. The number of btc will be 21 million only but do keep in mind that 1 btc has 100 million satoshi so total satoshi will be 21 million × 100 million that's a huge number 210 trillion satoshi to be exact. Imagine when 1 satoshi is equivalent to 1cent the market cap will be 2.1 trillion dollar and if 1 satoshi goes to 1$ each 210 trillion market cap. But in my opinion 1 cent per satoshi is achievable in near future ( may be within a decade). So 21 million btc are more than enough and i think there will be no need for a hard fork to increase the supply limit

Wow, I have never thought about this calculation before. Is there any possibility hard fork will happen with other reason not to increase its supply limit?

marjon

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Yes ! No doubt, its always since it has limited in supply & lot of assets relying on bitcoin in the markets.

HabBear

hero member

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Quote from: summer209 on November 10, 2017, 08:14:22 AM

We know that a country's currency should stay stable, but all the countries can print money when it needs to increase money supply. So will the number of bitcoins increase in the future?

Yes, for the next 100+ years the supply of Bitcoin will increase until all 21 million have been mined. No bitcoin will be available or created beyond that 21 million.

There will never be 21 million in circulation though, and that's because some bitcoin has been lost due to lost wallets and it's possible that the sizes of the rewards in 2100 will be so low that they won't be profitable to mine. On that later point, if the value of 1 bitcoin continues to increase those fractions of a bitcoin that will be the block reward in 100 years will have some value.

coinspam

newbie

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Absolutely not! BTC is a deflationary currency with a max supply of 21million coins.

EleVen7

newbie

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I don't think so but still hoping for that time that bitcoin become on everyone's hand and become cashless community. We can really say that it will increase in the future until the government of every country will cooperate to handle the economy with bitcoin.

winer432

newbie

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I think the number of bitcoin cannot increase in the future the 21M BTC was fixed but the price of bitcoin can increase year by year, if the number will increase the value goes lower.

jekjekman

sr. member

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Quote from: summer209 on November 10, 2017, 08:14:22 AM

We know that a country's currency should stay stable, but all the countries can print money when it needs to increase money supply. So will the number of bitcoins increase in the future?

That's one of the main difference of Bitcoin from Fiat currency, it is fixed to 21 million coins. Since the existence of Bitcoin it is the trademark of it so changing it or increasing it is so pointless because it will destroy its own identity and a big impact to trust issue will arise to its users.

Maybe in the future if Bitcoin will really increase so high maybe the fraction of a Bitcoin or the decimal places of it from 8 will become 9, and a single satoshi will have a milisatoshi.

aardvark15

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Quote from: summer209 on November 10, 2017, 08:14:22 AM

We know that a country's currency should stay stable, but all the countries can print money when it needs to increase money supply. So will the number of bitcoins increase in the future?

The creators of Bitcoin intentionally limited the total possible number of Bitcoins to 21 million with the mining difficulty increasing gradually. It will take over a hundred years for all Bitcoins to be mined but about 75% have already been mined.

Because of this design, Bitcoin becomes more scarce over time and therefore more valuable over time. You are correct that fiat currencies are inflationary, and Bitcoin is the opposite, deflationary. So compared to US dollars or other fiat currencies, Bitcoin should continue to increase in value as long as people still want Bitcoins.

midvoc

full member

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I believe the max coins is 21m - no more no less.

Khurram Bin Kamal

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Satoshi was a clever person and he anticipated every aspect of Bitcoin. The number of btc will be 21 million only but do keep in mind that 1 btc has 100 million satoshi so total satoshi will be 21 million × 100 million that's a huge number 210 trillion satoshi to be exact. Imagine when 1 satoshi is equivalent to 1cent the market cap will be 2.1 trillion dollar and if 1 satoshi goes to 1$ each 210 trillion market cap. But in my opinion 1 cent per satoshi is achievable in near future ( may be within a decade). So 21 million btc are more than enough and i think there will be no need for a hard fork to increase the supply limit

devis

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No. There is only 21 million bitcoins total. Bitcoin is like gold in the sense it has to be mined and there is only a limited supply. And once it's all mined that's it.

dothebeats

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21 million is the hardcoded limit on the number of coins to be produced on bitcoin's lifetime, and Satoshi hasn't stated anything regarding on additional coins in the future. He also stated that it's the beauty of the coin: it's deflationary. Any coin that gets lost in the void only (theoretically) adds value to the ones we have control with, and the current devs seems to also be okay with the limit and have made no discussions to change it.

ettessuta

newbie

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it is fixed 21M but it value changes like

in 2009 21M bitcoin == 210 M $

today 21 M bitcoin == 21 * 7 B $

in future will increase

JohnHero

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I agree with Electronicash. If the number of Bitcoins could be increased it will lose value. Take eBTC for example: they had an error in the code and someone could create as many coins as he wanted. They had to make a swap and now there is eBTCOLD (lost value, it's almost 0) and eBTC.

electronicash

legendary

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no. it stays 21M as it has.
blockchain works that way. if something is lost, its lost forever but the sum will still be 21M.
if anything goes wrong that the number increases, all those who invested in btc will come dumping their stash knowing the chain they thought to be immutable was modified.

summer209

newbie

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We know that a country's currency should stay stable, but all the countries can print money when it needs to increase money supply. So will the number of bitcoins increase in the future?

Topic: Will the number of bitcoins increase in the future? (Read 306 times)