17 million Bitcoins in circulation in 3.. 2.. 1..

Yaunfitda

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Quote from: michellee on April 26, 2018, 06:58:33 AM

so what is the result of this? because I wonder what is happen except I see the price is getting down under $9k but I see the price still trying to get back to $9k and I still waiting to see another highest price. we still too far to see 21 million is ended by mining and I wonder how much the bitcoin price when bitcoin reaches 21 million.

We are now back at the $9K levels. The movement of the price has no correlation on the 17 million already mine. But again, sometimes we need to see as this is another milestone for all of us as 17 mllions are already in circulation which make bitcoin supply getting thinner. Yeah, it really exciting to see what will be the price when all the coins are mined, I guess above $100K would be good enough for me. Grin

Anamika143

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Since the emergence of Bitcoin, 17 million have been provided so far. We all know Bitcoin will supply the highest 21 million. So much of the time we are getting closer to the highest point of supply of Bitcoin. I think it is enough supply as per the requirement.

stigmacryptonight

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Hopefully the prediction is right, as expected. Thank you for sharing the story, very helpful especially me who is new to Bitcoin and most importantly remain optimistic and spirit.

simonzenke55

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To be honest These are really crazy numbers .since its beggining we are proud of seeing these numbers.

redsap

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Quote from: SKRAAA on April 24, 2018, 08:59:26 AM

17,000,000 Bitcoins in circulation thread

We are getting closer and closer to reaching 17 million Bitcoins in circulation. It will take a lot of time till next milestone of 18 million coins so I decided to eternalize the moment.

I played with some numbers from https://blockchain.info/charts/total-bitcoins?timespan=30days and I predict that there will be 17,000,000 Bitcoins in circulation on:

Wednesday April 25, 2018 08:40:38 (am) UTC time (forum time) (Unix time=1524645638)

Let's see how accurate is my prediction

wow that was amazing and when seeing it it so near in 17 million circulation, i think i will help it a little bit, lol
and also i realize right now that are many user are using bitcoin right now

jona

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That mean there still 4 million that will be added to make the 21 million,and what than will be the price of bitcoin at that time ,we only have to watch and see ourselves.

laredo7mm

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Good article on this matter.
I'm linking this chart from the article because I think it's really interesting. It shows how number of bitcoins in existence will grow with time (block height in fact) and how inflation % will keep falling because of reward halving.

One thing I didn't know is that there will never be 21 million Bitcoin, but slightly less.

stompix

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Quote from: pooya87 on April 25, 2018, 11:01:40 PM

Quote from: stompix on April 25, 2018, 01:04:56 PM

~
I didn't get the data from blockchain or coinmarket cap.
My approximation was based on 17 000 000 - (10500000 (coins mined at 50 reward) + 5 250 000 (coins at 25)) /12.5 (current reward) = 100 000 blocks after the last laving.
So the block that will mine the 17 million coin will be block 210000+210000+100000, block 520 000.
Since we're at block 519894 we're still short 106*12.5 coins Cheesy

.

it will be a little higher than block 520,000 because of the truly lost coins. i don't know how many of them have happened so far but i know of two cases:
12.5BTC on block 501726 https://blockchain.info/tx/9bf8853b3a823bbfa1e54017ae11a9e1f4d08a854dcce9f24e08114f2c921182
1 satoshi + whatever the fees were on block 124724 https://blockchain.info/tx/5d80a29be1609db91658b401f85921a86ab4755969729b65257651bb9fd2c10d

so at least 12.50000001BTC will never be in circulation because it was never created (claimed by the miners finding the blocks)

Oh, I forgot about those, so basically ...less coins Grin

, less offer ...much moon sir Grin

I also remember now the FUD (although lightweight) about bitcoin being broken....

Anyhow , block 520001
https://blockchain.info/block-height/520001
was mined at 2018-04-26 10:52:54 (probably GMT???) so the op was wrong by one full day.
That is pretty bad, to be off one day when you think it's going to happen tomorrow...

Quote from: Noelbetty12 on April 26, 2018, 06:02:10 AM

It would be fun to know how accurate you are in analyzing the possibilities of bitcoin being entirely used. But whatever it is that you have in mind may just happen or probably not at all because in reality the market is not controlled by one person alone, but by the entire world of users.

What do you mean by that?
Bitcoin "entirely" used Huh

?
But I guess I'll never find out... Cry

gabmen

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Quote from: michellee on April 26, 2018, 06:58:33 AM

so what is the result of this? because I wonder what is happen except I see the price is getting down under $9k but I see the price still trying to get back to $9k and I still waiting to see another highest price. we still too far to see 21 million is ended by mining and I wonder how much the bitcoin price when bitcoin reaches 21 million.

Well the 17th million btc has already been mined and slowly though surely we're inching in on the last btc. I'm also curious about the time when we have all 21million btcs circulating. Will the price be stable? Will it moon? Will it be the start of a crash? Though i think the latter is unlikely, i'm not really sure what'll happen then

michellee

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so what is the result of this? because I wonder what is happen except I see the price is getting down under $9k but I see the price still trying to get back to $9k and I still waiting to see another highest price. we still too far to see 21 million is ended by mining and I wonder how much the bitcoin price when bitcoin reaches 21 million.

fokinflor

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Quote from: SKRAAA on April 24, 2018, 08:59:26 AM

17,000,000 Bitcoins in circulation thread

We are getting closer and closer to reaching 17 million Bitcoins in circulation. It will take a lot of time till next milestone of 18 million coins so I decided to eternalize the moment.

I played with some numbers from https://blockchain.info/charts/total-bitcoins?timespan=30days and I predict that there will be 17,000,000 Bitcoins in circulation on:

Wednesday April 25, 2018 08:40:38 (am) UTC time (forum time) (Unix time=1524645638)

Let's see how accurate is my prediction

Wow, your thread gave me some new information. I was not aware that we can know about the total bitcoins in circulation. Do you think it is possible to adjust coins being mined based on increased demand ?

Noelbetty12

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It would be fun to know how accurate you are in analyzing the possibilities of bitcoin being entirely used. But whatever it is that you have in mind may just happen or probably not at all because in reality the market is not controlled by one person alone, but by the entire world of users. So in this connection I would say that the coins will work in its way towards history very much unpredictable. But should you have guessed it accurately you will be the happiest person atleast in your terms. I would congratulate you for that. Goodluck.

Lucius

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I think we can now say that 17 million of BTC is mined and only 4 million is left,it may seem to much but it is not actually.Even though it will take more then 100 years to all BTC is mined,almost 99% will be mined by the year 2032.It's a big success that we have reached this point,although it may seem unimportant it is something what does not happen every day.It will take around 555 days from now to reach 18 millionBTC mined.

pooya87

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Quote from: stompix on April 25, 2018, 01:04:56 PM

~
I didn't get the data from blockchain or coinmarket cap.
My approximation was based on 17 000 000 - (10500000 (coins mined at 50 reward) + 5 250 000 (coins at 25)) /12.5 (current reward) = 100 000 blocks after the last laving.
So the block that will mine the 17 million coin will be block 210000+210000+100000, block 520 000.
Since we're at block 519894 we're still short 106*12.5 coins Cheesy

.

it will be a little higher than block 520,000 because of the truly lost coins. i don't know how many of them have happened so far but i know of two cases:
12.5BTC on block 501726 https://blockchain.info/tx/9bf8853b3a823bbfa1e54017ae11a9e1f4d08a854dcce9f24e08114f2c921182
1 satoshi + whatever the fees were on block 124724 https://blockchain.info/tx/5d80a29be1609db91658b401f85921a86ab4755969729b65257651bb9fd2c10d

so at least 12.50000001BTC will never be in circulation because it was never created (claimed by the miners finding the blocks)

gentlemand

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An interesting figure and really not considered often enough. Less than ten years in and already over 80% of coins have been mined. All those epic price peaks happened while thousands of new coins were arriving every day.

As daily production dwindles, demand continues to rise and the vast majority of coins will have to be prised out of someone who already paid for them. That's a very different dynamic to a miner with a mountain of costs to meet every month.

In a couple of decades we won't be too far off effective deflation, the amount of new coins arriving will be a piddling amount even with another century to go. That might blow all future price predictions out of the water.

cordlesslake

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In my opinion when we get to 21 million (and it will take time) the btc will become the refuge currency and its price will be very high.

Yaunfitda

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Quote from: SKRAAA on April 24, 2018, 08:59:26 AM

17,000,000 Bitcoins in circulation thread

We are getting closer and closer to reaching 17 million Bitcoins in circulation. It will take a lot of time till next milestone of 18 million coins so I decided to eternalize the moment.

I played with some numbers from https://blockchain.info/charts/total-bitcoins?timespan=30days and I predict that there will be 17,000,000 Bitcoins in circulation on:

Wednesday April 25, 2018 08:40:38 (am) UTC time (forum time) (Unix time=1524645638)

Let's see how accurate is my prediction

I think you got it wrong already:

16,999,025 BTC as per coinmarketcap and its about the end of April 25 UTC already.

Maybe tomorrow we are going to hit this milestones. But I'm too lazy to make any computations but I'm pretty sure that in the next couple of hours that 17 millions will be reached. Sometimes we really needed this kind of thread to give us some light moments as everyone is really on their heels specially in the last 4 months or so. Grin

cryptodrei

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You willl need 120+ years to mine the remaining bitcoins which is why it wont be a problem for most of the people because that time we are all dead ,which is why it doesnt matter as of the moment.What matters is how we can get as many bitcoins as we can as bitcoin's value is getting more and more valuable as we speak.

bettercrypto

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Quote from: cryptoheroin on April 25, 2018, 04:37:08 PM

LOL,it would take forever to mine those remaining bitcoins.Which is why its value is increasing expotentially from time to time because the mining difficulty is getting higher as we are getting closer to 17million circulating supply.Most of the supply of bitcoin are lost to somewhere else,bitcoin's supply isnt that accurate because if it does its value wont fluctuate as what we have experienced.

Nope, mining of bitcoin will not last forever due to the fact that it has limited supply only. Imagine, bitcoin has 21M supply and 17M are getting mined right now. Even the mining difficulty will become harder, it is not impossible to mine those 4M left in the next years. But the last bitcoin will mine in 2140, 122 years from and I think it is our not a problem anymore.

thorvald

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We are getting very very close!! An exciting time for sure. I'm actually surprised we haven't passed this milestone already, considering that poeple think we will mine the last bitcoin ever in 2018

Topic: 17 million Bitcoins in circulation in 3.. 2.. 1.. (Read 331 times)