Bitcoin: Can You Increase The 21 Million Coins?

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Information Bitcoin: Can You Increase The 21 Million Coins?

Title	:	Bitcoin: Can You Increase The 21 Million Coins?
Lasting	:	12.09
Date of publication	:
Views	:	10 rb

WARNING: There are a number of scammers who are using my image andbrchannel name to try to connect with my viewers on WhatsApp and otherbrplatforms to scam them Just so you know, I will never refer you tobr"my personal trader" or try to connect with you personally to sell youbrsomething I am banning these scammers as quickly as they pop up, butbrif you could report them to YouTube, it would be very helpful You canbralways recognize a scammer by clicking on the image and seeing howbrmany videos he has All of these guys have zero videos, while I havebrhundreds
Comment from : Bitcoin University

my question is that if hypothetically EVERY full node agrees to change it to 22m supply will we have a Fork? How does it work if all nodes actually agree?
Comment from : HoopNews Daily

The irretrievable coins that are unfortunately lost due to lost private keys? Will it ever come back into circulation? What I'm worried about is that the rate in which people lose their keys are probably not going to be 0 Which means bitcoin in circulating supply will keep decreasing over time My question is will there ever be some sort of protocol to retrieve or mine more coins to keep the circulating supply at exactly 21 million BTC? Perhaps every 100-200 years coins that are inactive will be opened to mine by miners?
Comment from : Monthon H

Just wondering why I saw a news article writing that Jamie diamon said that Bitcoin is going to be useless because the 21 mil cap isn't reliable enough
Comment from : Realty Harry

this is naive answerbrand misleading about "bitcoin" on exchage
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Comment from : Peace Ononye

Good argument for increasing bitcoin, but what answer would you give to the argument about someone decreasing the bitcoin max to 20 million? To increase the value of the bitcoins you already own?
Comment from : Bountycode

I could set a govt doing that just to ruin it and sell their own Is that possible I don't see the one percent giving in to getting away from traditional banking that easy
Comment from : Joe Ramsey

Why is the value of bitcoin going up when everyone can see your purchases and it has limited buying power?
Comment from : Gods Eye View

How do you know that 80 of the BTC mining operations is not carried out by Banking proxy to keep it under check from threatening the Banking system
Comment from : Thomas George

I would like to know about taxability of Bitcoin Of course the US government is itching to tax the crap out of anything So capital gains tax applies if you buy BTC and sell at a profit What about pure BTC transactions? I mean you buy a pizza with BTC from a free entrepreneur, that is, a person who decides to run a business and not let the government know Is there any way for the government to know about that transaction in order to tax it?
Comment from : YouTube WantsToSilenceMe

I think after the 21million is mined There could be increase to keep miners interested, because I don't transaction fee only can keep miners interested
Comment from : Emma 21Blockboy

Pretty much a new code it's pretty much calling it bitcoin2 or etherium not really bitcoin new code is what all the other coins are pretty much am I wrong?
Comment from : BitcoinFixit

Those that determine to be wealthy plays the money game to win while the poor people plays the money game to lose
Comment from : Kelly Anns

But there isn't 21 million bitcoin if you exclude satoshi wallet and all the lost transactions its much less Increasing the number of bitcoin above the magic 21 million mark obviously would damage bitcoin However also if satoshi ever moved just 1 satoshi it would damage bitcoin Personally think if somehow it be great to put back into the mining system these lost original bitcoin
Comment from : Daniel

Just like BSVnot gonna work
Comment from : Wandering Knight

Look at bitcoin cash coin , whitePaper is the rules Respect or buy a other coin, simple!
Comment from : Charly SuperG

Mrs Jane is legit and her method works like magic I keep on earning every single week with her new strategy
Comment from : joy favor

Yes you can That's how we have all these altcoins They're all experiments to change bitcoin
Comment from : ThePontiac Bandit

No bitcoin will never be increased, a 100 consensus between all miners and nodes would have to agree , and that ain't ever going to happen, I consider this post FUD , shameful infact
Comment from : Shane Neal

so in theory yes? I hope not
Comment from : BÚN BÒ HUẾ

Lets hope some rogue nodes dont canvass enough support to cheat michael saylor of his trillions by increasing the cap
Comment from : Investing Education

At some point the daily rate that people lose their bitcoin will exceed the amount being mined I wonder if we have already reached that
Comment from : Mark Walker

If bitcoin became the dominant way to settle payments in the world, would the main chain at least have capacity enough for transactions that you don't want to settle on a second layer like the lightning network?br(Transactions like purchasing a house or just institutional money moving around with millions at time)brbrOver 25 quadrillion dollars is moved internationally each year, half of that through SWIFT A part of these transactions could definitely be done on a second layer, but what about the rest?brbrWouldn't the main chain at the very least be filled purely with transactions worth at least as much as cars and probably tens millions of dollars worth?brbr25 quadrillion a year would be well over 10 million dollars per transaction if the main chain has a tps of 7 and if it was evenly spread per transaction (Which it certainly wouldn't be, I found no numbers on that Maybe the 80-20 rule applies here too? Probably not)brbrIf this is the case, would the normal person be forced to use a second layer solution? Due to transaction fees being too high compared to what a regular person might buybrbrInstitutions might have no problem paying $1000 on a $10000000 transaction, it would only be a 00001 fee for them brbrCould it give centralization issues?brbrFor example if taxes can only be paid in one layer, preferred by the government because they have influence over it, and moving from one layer 2 solution to another requires you to interact with the main chain?(with high fees) don't they basically have the same amount of control as they have now?brbrYou're basically forced to stay on the chain your country prefers if you don't want to pay the high fee every year when taxes need to be paid Or you could be rich enough so the fee is no big deal compared to your taxes
Comment from : A Ņ Đ Ý

Wtf, i got a dogecoin ad
Comment from : Ashan A

One of the best bitcoin channels but a significant stretch :) The Clark moody dashboard looks very interesting Are there any metrics to keep a regular eye on? Thanks
Comment from : Maximilian Crunchyroll

Hard to imagine that any magazine or web sight that sells itself as selling finance/economics information would not understand even the basics on Bitcoin I knew the point of this one before I even listened Who does not get that you don’t just invent a new Bitcoin with more coins and that is that?brDuh How about doing one on how many coins are actually lost and expected to be out of circulation permanently out of those 21 million? Thanks Matthew
Comment from : JS MD

Your videos need to be taught in schools
Comment from : Xueq

It will be increased for reparations and UBI by the majority ESG woke full nodes the unvaccinated and “climate deniers” cannot own btc…speaking from the future :)
Comment from : Trading With Will

I enjoy your videos in general, but some of what you say in this video is not really possiblebrbrThere is nothing in the code that says 21 million bitcoin The eventual supply cap will be 20,999,9999769 in 2140 The 21 million supply cap is the result of a series of halvings, which asymptotes to just under 21 million bitcoin You can't change that unless you create a hard fork, in which the current blockchain is completely incompatible with the new chain, so the game theory is much stronger against this than you even present here Hard forks like bitcoin cash and BSV, etc have lost over 96 of their value compared to bitcoin, and they didn't even attempt to change the halving schedule in order to increase the supply cap Think of how worthless they would be now if they hadbrbrCheck out this video I made recently, about the 21 million bitcoin supply cap: youtube/RAOQfNQM0bU
Comment from : Michael Van Bebber

when the first halving happened some miners tried to continue paying themselves 50 BTC per block instead of the new 25 BTC per block and their blocks were rejected by the full nodes as a result
Comment from : Ryan Clark

OFF TOPIC: Matt, Sometime could you please address this ? Should make a dynamite video wwwredditcom/r/Bitcoin/comments/o5lhmu/governments_planning_a_global_coordinated_attack/
Comment from : wes x

I’m glad to see that Betteridge's law of headlines applies well here
Comment from : Will Tomorrow

Thanks for addressing that issue I had the same question about "never" being any more BTC With consensus, it is possible but very very very unlikely
Comment from : Brandon Carroll

Hello
Comment from : Mary Scott

Nah hell no I ain't gonna dilute myself for the "greater good"
Comment from : Unfathomable Actions

The only legit way to increase Btc would be to increase it from 21 mil to 210 milbrbrSo that for everyone who has 1 btc will now have 10 btc with each btc being at a tenth of the price No one loses and there will be more btc to go aroundbrbrBasically just multiply it by ten
Comment from : adel ahmed

If we are going to f@#k with this like that I would much rather reduce the amount than increase it Reduce it to 18,000,000 and reduce the timeline from 2140 to 2030 I say we do it
Comment from : john

Not interested in listening to FUD
Comment from : Kevin Hockersmith

No way! The whole idea and appeal of Bitcoin is to get away from printing more currency Generating more BTC would likely lead to a fringe currency
Comment from : Steve McCormack

Social consensus is INGENIOUS!
Comment from : PURPLE SHADE SMOOTHIE

I don't think your view that nodes control the network is accurate This is the old social consensus view of the nature of money, countries and social fictions No one controls the network There are lots of nodes validating Bitcoin Cash and Bitcoin SV right now They are not Bitcoin not because they aren't a majority or there is a majority consensus, but because Bitcoin has remained intact, like gold
Comment from : Jose Maanmieli

Will there ever be a point where BTC can be used to buy a cup of coffee? It seems to me like the fees are always going to be too high for it to be used like a currency
Comment from : hrlrl

IN WHAT CASE WOULD YOU RUN A FULL BTC NODE AND WHY WOULD YOU RUN IT? DO YOU HAVE TO RUN IT 24/7?
Comment from : Father Finger

I wouldn't update my node for more than 21M so
Comment from : Vyruz

Great video, thanks
Comment from : Liang Li-Wei

I wonder if the "lost" bitcoin can ever be redeployed
Comment from : Cynthia Aiken

I wish our government in Canada could work like this :) wishful thinking
Comment from : D Vis

I never even thought of the supply increasing Interesting Or California crunching wow
Comment from : Asmar Bilal Sr

You can’t increase the 21 million cap, but you could break the satoshis in more than 8 dB
Comment from : T

I'm sorry, Matt, this is was a Micky Mouse analysis The answer you should be asking is: can Bitcoin supply exceed 21 million on a custodial level via paper/synthetic "bitcoin"? And the answer is absolutely! The second a Bitcoin loan is issued (and it's happening already via CELS/BlockFi/Wirex/etc), it doesn't come from anyone's reserves and is created out of thin air (aka Fractional Reserve Banking) I know you're towing a Bitcoin maxi party-line, but you're not doing anyone any favours by intentionally or unintentionally misinforming your audience
Comment from : Alex P

Thank u so much for the comprehensive material!
Comment from : Melisa

Excellent video Matt On the 21mil bitcoin cap, it's the result of the reward halving every four years I don't think the 21mil is hard coded in the code BCH & BSV are forks of BTC Even though, their supply cap stay at 21mil for now, the market knows they are more centralized, and potentially can be changed in the future The large gap in market valuation between bitcoin & those of bitcoin wannabe is telling people that any attempt to copy& change bitcoin is futile
Comment from : Bitcoin Vietnam

Bitcoin will never be a currency - hence people will have to sell and cause the biggest wealth loss since the great depression
Comment from : Jacke

Dear Matthew, thank you for fantastic content Thanks to you and your channel, now I can proudly say I'm running a full bitcoin node, it downloaded full BTC blockchain and synced with the consensus block just today Its very nice feeling to take part in securing BTC blockchain by verifying blocks I never knew anything about BTC nodes before finding your channel, I was always thinking that miners can destroy bitcoin but with nodes thats almost negligible Please keep creating amazing videos for all of us!
Comment from : StalkerBTC

He is right I run a full bitcoin node I see it when they try to do that
Comment from : Zoekie_Q

Those scammers Craig Wright(bitcoin Satoshi vision) and Roger ver(bcash), already tried this and failed Nodes and miners told them to fkoff
Comment from : jeff steyn

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Comment from : Wenner Frank

The protocol is protected by all who are running Full Nodes This is democracy among all who participate in the Bitcoin Protocol This keeps Bitcoin secure and stable You need everyone to agree with your changes So good luck trying to change it Anyone can run a Node and participate This makes it even more secure Unlike our elections that are centrally controlled by Dominion systems
Comment from : Bad Dog

7:40 Income tax was introduced much earlier than that to cover the costs of the civil w a r
Comment from : SimGunther

Ruins the whole point of the coin if you can increase the number in circulation It'll be like fiat all over again!
Comment from : SimGunther

Matt, I'd be interested in a GBTC video last fall Grayscale bought 120 of all coins mined they are a prime market mover
Comment from : Zcollin Collin

matt, do you see BTC going up soon, or will this rut take longer? thanks
Comment from : Kris Krispy

matt, please inform us if you decide to buy back into ETH or other Alts, thanks
Comment from : Kris Krispy

What about a decreas in number?
Comment from : Nader Safipour

Now, 625 bitcoin every 20 minutes
Comment from : Nader Safipour

Exactly who would be crazy to want increase bitcoin's limit to 21m? OH I found it the feds, the glowers and all of them to destroy BTC, I hope it doesn't happen ever tho We gotta keep it strong so it keep us strong Good take again!!
Comment from : KnowledgeHarvester

New versions of Bitcoin does not dilute anyone holdings This is incorrect When someone creates a new Bitcoin, Bitcoin holders receive both versions The decision to not run the new software is a personal one, not financial
Comment from : difference018

Would destroy the price
Comment from : Langton Industries

Let's also hope the cost of electricity doesn't cost more than a miner would receive in transaction fees, once the last bitcoin is mined
Comment from : Michael Mims

Satoshi is a genius Perfect money Keep stacking Sats
Comment from : BURSAMAN

By 2140 bitcoin will either be the world reserve currency or at or near zero If it’s the former there should be plenty of incentive to mine for transaction fees
Comment from : Pizza Parity