[raaman]

It is said that bitcoin, like gold, cannot be 'mined' forever. Why? Does anyone here know the answer for this?

[oldbuddy]

It is said that bitcoin, like gold, cannot be 'mined' forever. Why? Does anyone here know the answer for this?

I believe there is a cap on the number of Bitcoins that can exist, but they do rotate.

[raaman]

I believe there is a cap on the number of Bitcoins that can exist,

Why should there be a cap on the number of bitcoins that can exist? What is the reason for that? What purpose does that serve? Who decides that cap, if at all, it is necessary? Who gave him or her that authority?

[mrki444]

Number of bitcoin is limited so price/value can be more stabile. If there is no limit, it would be like printing money and that cause money value drop (several history examples, inflation). Same would be with bitcoin. Some crypto coins burn millions of coins so value can be stabile or even grow.

[skysnap]

You have a mountain, which has specific amount of supply of gold, you mine only upto that point. same logic is used in bitcoihn, you have specific supply.

[augusta]

i have read somewhere that Bitcoin Is limited in supply I think this is the reason it can't he mined forever unlike other precious stones.

[Henry]

In my opinion , the comparison of gold and bitcoin actually is very skeptical , because gold actually involves real effort like trenching , drilling , and crushing mountains , where bitcoin is readily and mostly available online (no offline )unless you choose physical bitcoins and on the limit I can say that what if someone just put the limit to "*100" no one can do anything just my 2 cents actually

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[Yugocean]

Satoshi Nakamoto himself thought that unlimited supply will bring inflation, so he capped it because he was himself not sure.

Here is an article about that (not mine) Here’s why Satoshi Nakamoto set Bitcoin’s supply limit to 21 million This is based on email between Nakamoto and Mike Hearn

[skysnap]

Unlimited stock doesn't exist in any nation, the stock is always compared with the gold weight. but the thing is bitcoin has supply limit to stop things going inflation.

[Yugocean]

Unlimited stock doesn't exist in any nation, the stock is always compared with the gold weight. but the thing is bitcoin has supply limit to stop things going inflation.

Correct, however today different countries are printing note which are more than their gold reserve. BTC fixes this.

[skysnap]

Same logic like how we mint the currency .. limited gold value and limited printed money. That has been the case going on so far.

[Treborika]

This is because bitcoin is a digital crypto currency that is it exists online and uncertainty actually. That's why.

[Yugocean]

CAR has issued its own native crypto based on its BTC reserve, but country don't know how to control it.

[raaman]

I believe there is a cap on the number of Bitcoins that can exist, but they do rotate.

Rotating is okay. I can understand. Even fiat currency is rotating. But my question is why should there be a cap on mining bitcoin.

[Yugocean]

Rotating bitcoin?
That would be NFT, not Bitcoin.

[DareDevil07]

I tried investing on bitcoin but it was a hopeless case for me. I just suck at crypto currencies.

[Henry]

You have a mountain, which has specific amount of supply of gold, you mine only upto that point. same logic is used in bitcoihn, you have specific supply.

That is very correct logic that you have applied , everything in this universe is fatal and will finish one day , and that is the biggest reality of this world actually indeed .

[Fidelia]

Satoshi Nakamoto himself thought that unlimited supply will bring inflation, so he capped it because he was himself not sure.

Here is an article about that (not mine) Here’s why Satoshi Nakamoto set Bitcoin’s supply limit to 21 million This is based on email between Nakamoto and Mike Hearn

And if he didn't cap it, inflation would have surely made the crypto lose value.

[Tendz]

There are several reasons why Bitcoin cannot be mined forever. Firstly, the total supply of Bitcoin is limited to 21 million coins. This means that once all 21 million coins have been mined, no new Bitcoins can be created through mining.

Secondly, the mining process becomes increasingly difficult over time. Bitcoin mining involves solving complex mathematical problems using powerful computers. As more miners join the network and compete to solve these problems, the difficulty level adjusts to ensure that new blocks are added to the blockchain approximately every 10 minutes. This adjustment mechanism is known as the "Difficulty Adjustment."

[Tendz]

I tried investing on bitcoin but it was a hopeless case for me. I just suck at crypto currencies.

Investing in crypto can be a risky venture. You can learn about the market trends, technologies, and strategies. And, start with a small investment amount to minimise risk while gaining experience.