Topic: 16,000,000 BTC will have been mined in a few days (Read 2287 times)
Its obvious that there will be the next halving in the next 4 hears and by that next time lets hope there is a good demand for bitcoins in the world and the price of bitcoins will go up a lot higher .
.. and all these mining companies used to making millions off mining, what is going to compel them to keep mining when there rewards are like 1/100000 of what they were before..?
It is hard to speculate about distant future. But hopefully price of Bitcoin by that time will be so high that network will be perfectly sustainable by miners collecting only transaction fees.That how in theory is should work - but people until they see this in action, will create all kinds of FUD and rumors claiming that when all bitcoins will be mined the network will die...
I'm happy to be able to live such milestones. I'm living the history : SegWit, halving, that...
If bitcoin still exist in next 30 years, and all of bitcoin are mined. What will happen next? I angered what happen if no bitcoin anymore to mine?
I think by then,the transfer fee will be high enough to encourage the miner keep on net mining! 
A few things can happen
1. Hashing power might be going through a major breakthough in the near future, making the rest of the bitcoins to be mined in less than 10 years. 2140 is with the current hashing power, and we all know that computers become more and more powerfull
nope... difficulty would increase with the hashpower. So, even if the hashpower doubles in a second, it would last a few blocks only. 1. Hashing power might be going through a major breakthough in the near future, making the rest of the bitcoins to be mined in less than 10 years. 2140 is with the current hashing power, and we all know that computers become more and more powerfull
If bitcoin still exist in next 30 years, and all of bitcoin are mined. What will happen next? I angered what happen if no bitcoin anymore to mine?
I think by then,the transfer fee will be high enough to encourage the miner keep on net mining! 
Actually 21 millions coin is not enough for all user in the world, and within 16 million being mined, bitcoin famous is just starting, so it is still a good chance for us to get rich from bitcoin, when bitcoin getting more famous and the supply is not enough we will see the price keep on going up
Is 21 million Bitcoin enough? How do you accomodate all people in case it was actually used as a worldwide currency? Comparing to the current world's M1 supply, it was determined that 8 decimal places was enough to cover the supply and still have the smallest division smaller than enough for daily usage.
The total number of currency units available is 21 x 1,000,000 x 100,000,000 which is 2.1 quadrillion. You could run two earths with that many units. No worries.
I don't mine so I don't mind.
Bitcoin have 8 more digits, so it's enough for the entire world use this currency. Bitcoin isn't a way to make people rich, just to allow people to use an descentralized and anonymous currency
Actually 21 millions coin is not enough for all user in the world, and within 16 million being mined, bitcoin famous is just starting, so it is still a good chance for us to get rich from bitcoin, when bitcoin getting more famous and the supply is not enough we will see the price keep on going up
Bitcoin have 8 more digits, so it's enough for the entire world use this currency. Bitcoin isn't a way to make people rich, just to allow people to use an descentralized and anonymous currency
Actually 21 millions coin is not enough for all user in the world, and within 16 million being mined, bitcoin famous is just starting, so it is still a good chance for us to get rich from bitcoin, when bitcoin getting more famous and the supply is not enough we will see the price keep on going up
Can experience a good price increase often as the mining of coins is been getting decreased on each halving. At the same the popularity and spreading has caused more people to enter bitcoin. So the need increases than the supply often resulting in the pumping of price as it happened this week.
I saw the price to get higher this week, if you look at it 16 millions is not a lot if you are consider that. The more and more who will enter in bitcoin and buy it, the supply will diminish and cause the price to go up.
If bitcoin still exist in next 30 years, and all of bitcoin are mined. What will happen next? I angered what happen if no bitcoin anymore to mine?
I saw the last BTC will be mined only in 2140. All of us will be dead when this happen.
Probably people will mine alt-coins and the BTC price will be very very high, but we can't assure anything here, as it's a long time yet, everything can happen in this middle time.
i guess our next life we may see the last BTC Mined , 
Can experience a good price increase often as the mining of coins is been getting decreased on each halving. At the same the popularity and spreading has caused more people to enter bitcoin. So the need increases than the supply often resulting in the pumping of price as it happened this week.
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In 4 or 5 days, a total of 16,000,000 BTC will be in circulation (76.2% of the total). Let's not forget that fewer and fewer BTC will be mined each day with every halving, so these milestones will get rarer and rarer. Next one will be reached in 1.5 years.
What is going to be the next milestone? 17m btc mined?
A few things can happen
1. Hashing power might be going through a major breakthough in the near future, making the rest of the bitcoins to be mined in less than 10 years. 2140 is with the current hashing power, and we all know that computers become more and more powerfull
2. Power to run the miners will be "free" in the near future. Once solar panels have been installed all over the world, there is basically no cost from getting power to run your miner.
3. Transaction fees will be the motivation to mine in the future. With near-free power, it's basically just buying a machine that will earn money to you while you sleep. Pretty much like buying a windmill today.
4. When the FIAT currencies crash because of this negative interest rate, crypto currencies will be a safe-haven, driving prices up.
More hashpower won't, in theory, affect too much the rate that bitcoins are mined, as far I know1. Hashing power might be going through a major breakthough in the near future, making the rest of the bitcoins to be mined in less than 10 years. 2140 is with the current hashing power, and we all know that computers become more and more powerfull
2. Power to run the miners will be "free" in the near future. Once solar panels have been installed all over the world, there is basically no cost from getting power to run your miner.
3. Transaction fees will be the motivation to mine in the future. With near-free power, it's basically just buying a machine that will earn money to you while you sleep. Pretty much like buying a windmill today.
4. When the FIAT currencies crash because of this negative interest rate, crypto currencies will be a safe-haven, driving prices up.
Correct. Difficulty adjusts to keep issuance rate steady.
and if difficulty is increase in every day, then mining bitcoin can be really hard and it needs more hashrate to get some reward and can found a block of bitcoin. and maybe the next halving is come to soon and not once in every 5 years as we predict.
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In 4 or 5 days, a total of 16,000,000 BTC will be in circulation (76.2% of the total). Let's not forget that fewer and fewer BTC will be mined each day with every halving, so these milestones will get rarer and rarer. Next one will be reached in 1.5 years.
What is going to be the next milestone? 17m btc mined?
A few things can happen
1. Hashing power might be going through a major breakthough in the near future, making the rest of the bitcoins to be mined in less than 10 years. 2140 is with the current hashing power, and we all know that computers become more and more powerfull
2. Power to run the miners will be "free" in the near future. Once solar panels have been installed all over the world, there is basically no cost from getting power to run your miner.
3. Transaction fees will be the motivation to mine in the future. With near-free power, it's basically just buying a machine that will earn money to you while you sleep. Pretty much like buying a windmill today.
4. When the FIAT currencies crash because of this negative interest rate, crypto currencies will be a safe-haven, driving prices up.
More hashpower won't, in theory, affect too much the rate that bitcoins are mined, as far I know1. Hashing power might be going through a major breakthough in the near future, making the rest of the bitcoins to be mined in less than 10 years. 2140 is with the current hashing power, and we all know that computers become more and more powerfull
2. Power to run the miners will be "free" in the near future. Once solar panels have been installed all over the world, there is basically no cost from getting power to run your miner.
3. Transaction fees will be the motivation to mine in the future. With near-free power, it's basically just buying a machine that will earn money to you while you sleep. Pretty much like buying a windmill today.
4. When the FIAT currencies crash because of this negative interest rate, crypto currencies will be a safe-haven, driving prices up.
Correct. Difficulty adjusts to keep issuance rate steady.
it seems good to me we can not slow down the miners and i dont do that its good to see people are making more thansactions then previous times and miners are also growimg in number and powers even after all thoseproblems like price comments and all those insults. its really greate to see all this actully happening
If bitcoin still exist in next 30 years, and all of bitcoin are mined. What will happen next? I angered what happen if no bitcoin anymore to mine?
I saw the last BTC will be mined only in 2140. All of us will be dead when this happen.
Probably people will mine alt-coins and the BTC price will be very very high, but we can't assure anything here, as it's a long time yet, everything can happen in this middle time.
Speak for yourself.
I plan to be one of those heads in a Jar.
haha,
It's true, there is a long time until 2140, maybe until this date scientists will create the "Heads in Jar" to make people live forever or at least while the jar doesn't break...
Crazy to see that there are already ~70% BTC mined and we're still in the beginning of this journey... I guess we now have another excuse to have a party, maybe haha
I don't think we are still in the beginning of this journey, we have reached to a long extent by now, there are already a lot of people in the world using bitcoin and bitcoin is being accepted by every person with the time, and it is not easy to just cover all the world in just 7 or 8 years.
7-8 years aren't nothing compared to what will come. I think it's the beginning too, I would say few people in the world are using BTCs at this moment, most people still rejects it or doesn't know how this works. There is a long way until BTC conquers the hegemony of currencies in the world. At this moment it's only a "internet coin".
If bitcoin still exist in next 30 years, and all of bitcoin are mined. What will happen next? I angered what happen if no bitcoin anymore to mine?
I saw the last BTC will be mined only in 2140. All of us will be dead when this happen.
Probably people will mine alt-coins and the BTC price will be very very high, but we can't assure anything here, as it's a long time yet, everything can happen in this middle time.
Speak for yourself.
I plan to be one of those heads in a Jar.
In 4 or 5 days, a total of 16,000,000 BTC will be in circulation (76.2% of the total). Let's not forget that fewer and fewer BTC will be mined each day with every halving, so these milestones will get rarer and rarer. Next one will be reached in 1.5 years.
I'm not really surprised, since I know the supply is just 21 millions only. And bitcoin is still at grow up phase, people just already know, some high tech company at the 1st phase to adopt bitcoin, not uses for global currency. It's actually surprised with at this phase the price have a stable movement in high level(comparing higher price ever reached).
How if the end of bitcoin distribution is just a beginning?
.. and all these mining companies used to making millions off mining, what is going to compel them to keep mining when there rewards are like 1/100000 of what they were before..?
Man these arguments were made before the recent halving and no doubt before previous halvings. They will be rolled out again before the next halving too. The answer to your question is that mining companies know full well when the halving is going to happen and they make their plans accordingly. There was no huge drop in hash rate after the recent halving like some had predicted.
The only dramatic event that took place was that the price doubled. So even though they are making less btc they are making more dollars.
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And no bitcoin hasn't jumped that much over the past 7 years, meaning when everything is said and done, whats to keep the hash rate so high to protect the network?
It's gone from cents to the btc to hundreds of dollars to the btc. How can you say it hasn't appreciated in value?
If bitcoin still exist in next 30 years, and all of bitcoin are mined. What will happen next? I angered what happen if no bitcoin anymore to mine?
There is no chance that all bitcoins will be mined in the next 30 years because it is scheduled to happen May 7th, 2140 (or probably earlier). But even if all bitcoins are mined the miners will get profit from transaction fees.
I agree that miners after some years will get profit only from transaction fees unless they find a way to have electricity and mining hardware with almost zero cost. But, I believe that there is another one issue. People as human beings forget or lost their private keys so somewhere in blockchain there are some blocks where the coins practically are out of circulation.
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