18,000,000 bitcoins have been mined! - page 2.

Hamphser

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Quote from: pawanjain on November 05, 2019, 12:45:40 PM

Quote from: rdbase on November 05, 2019, 11:37:30 AM

The 18 millionth bitcoin has been mined so only 3 million left to go! Wink

https://thenextweb.com/hardfork/2019/10/19/satoshi-nakaboto-18-million-of-the-21-million-bitcoins-have-now-been-mined
Anthony pompliano posted on twitter when it happened.
https://twitter.com/APompliano/status/1185346573779243008
This is a milestone so do you agree this will pump up the price as we are getting closer to the end of our king of all cryptocurrency blocks being solved? Undecided

End of our king ?
Not so soon mate, fortunately/unfortunately you me or anybody living today who is aware of bitcoin most probably won't live that long to see the last bitcoin being mined. We still have a plenty of time ahead of us. Besides that, blocks will continue to be mined. It's just that the miners will only earn the transaction fees from the respective blocks and not the block rewards. And this would certainly not pump the price of bitcoin but the bitcoin halving might !

There are other factors that would definitely pump the price but it would take a certain amount of money if you know what i mean. Whales can easily make this happen although i'm wondering if whales could really make the market pump and dump during that time. I am just really curious about it but anyway, we won't be alive when that time comes.

Bitcoinislife09

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Quote from: rdbase on November 05, 2019, 11:37:30 AM

The 18 millionth bitcoin has been mined so only 3 million left to go! Wink

https://thenextweb.com/hardfork/2019/10/19/satoshi-nakaboto-18-million-of-the-21-million-bitcoins-have-now-been-mined
Anthony pompliano posted on twitter when it happened.
https://twitter.com/APompliano/status/1185346573779243008
This is a milestone so do you agree this will pump up the price as we are getting closer to the end of our king of all cryptocurrency blocks being solved? Undecided

Bitcoin market price will surely be going to increase if all of the bitcoin were mined. In my opinion, I guess a lot of mining company will switch to mining altcoins if possible because this is the only way they could make a profit by using their investment in hardware. The supply of bitcoin in the market is going down and the demand of bitcoin in the community is going up if that time come also, in my opinion, this is the time where we were going to recognize bitcoin as a currency that we could all use in a transaction all over the world.

sureshnsnet

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Quote from: MURONDI on November 05, 2019, 12:34:10 PM

what will happen if bitcoin runs out in the mine,? whether the price will be more expensive because it can no longer be in the mine, what if people in the future turn to other alternative coins besides bitcoin, maybe at this time bitcoin is number one crypto, but we will not know what will happen in the future, it could be that most people will leave bitcoin.

After all bitcoins are mined so miners will not getting block rewards in bitcoin, but they can getting the traction fee it increases the Bitcoin demand more and increase bitcoin price also and bitcoin will gain more value in the future.

pawanjain

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Nothing lasts forever

Quote from: rdbase on November 05, 2019, 11:37:30 AM

The 18 millionth bitcoin has been mined so only 3 million left to go! Wink

https://thenextweb.com/hardfork/2019/10/19/satoshi-nakaboto-18-million-of-the-21-million-bitcoins-have-now-been-mined
Anthony pompliano posted on twitter when it happened.
https://twitter.com/APompliano/status/1185346573779243008
This is a milestone so do you agree this will pump up the price as we are getting closer to the end of our king of all cryptocurrency blocks being solved? Undecided

End of our king ?
Not so soon mate, fortunately/unfortunately you me or anybody living today who is aware of bitcoin most probably won't live that long to see the last bitcoin being mined. We still have a plenty of time ahead of us. Besides that, blocks will continue to be mined. It's just that the miners will only earn the transaction fees from the respective blocks and not the block rewards. And this would certainly not pump the price of bitcoin but the bitcoin halving might !

MURONDI

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Activity: 742

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what will happen if bitcoin runs out in the mine,? whether the price will be more expensive because it can no longer be in the mine, what if people in the future turn to other alternative coins besides bitcoin, maybe at this time bitcoin is number one crypto, but we will not know what will happen in the future, it could be that most people will leave bitcoin.

Fappanu

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Activity: 1111

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Quote from: rdbase on November 05, 2019, 11:37:30 AM

The 18 millionth bitcoin has been mined so only 3 million left to go! Wink

https://thenextweb.com/hardfork/2019/10/19/satoshi-nakaboto-18-million-of-the-21-million-bitcoins-have-now-been-mined
Anthony pompliano posted on twitter when it happened.
https://twitter.com/APompliano/status/1185346573779243008
This is a milestone so do you agree this will pump up the price as we are getting closer to the end of our king of all cryptocurrency blocks being solved? Undecided

About 18,035,850 BTC have now been circulating according to the coinmarket cap. And it will take a long time before the remaining coins are depleted and it will take us several decades for all of these coins to be mine.
I also read that it took almost 50 months to mine a bitcoin.

DannyHamilton

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Quote from: rdbase on November 05, 2019, 11:37:30 AM

we are getting closer to the end of our king of all cryptocurrency blocks being solved?

Absolute NONSENSE and POPYCOCK!

Blocks will continue for as long as there are transactions and miners. The amount of currency that has been released into the system has nothing at all to do with reaching an "end of blocks being solved".

Furthermore, it's going to take more than 100 years to mine the remaining 3 million bitcoins. We aren't even close to the end of new coins being created.

boyptc

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Quote from: Lucius on November 05, 2019, 12:10:23 PM

Personally, we can consider ourselves lucky to live in a time when almost 3 million BTC are still needed to be mined, and millions are available on exchanges.

Very lucky indeed.

And for those upcoming years, scarcity will make bitcoin more valuable which will make others realize that they should have bought it earlier when the mined supply isn't so high. Although it's still considerably good and can say that it's still in the mid-early days.

Lucius

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rdbase, but this is old news in a way, the news is more than two weeks old and there has been some discussion on this topic. From the moment the above figure was reached, we have 30825 new BTC, and this is nothing that will pump the price. Mining is a process which will last until about 2140, although it should be emphasized that the majority of coins will be mined long before that year.

What most should focus on is the year 2032, at that time 99% of all BTC will be mined, but already today we have reached a very large percentage of what is already on the market (85%). Personally, we can consider ourselves lucky to live in a time when almost 3 million BTC are still needed to be mined, and millions are available on exchanges.

pgbit

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When I think of the energy it would take to mine the remaining 3 BTC especially since it is estimated that the last bitcoin would be mined in 120 years, sometimes I think that this is just a mad conspiracy by the power companies to make a lot of money but then I remember what Bitcoin has offered to the world... Decentralised and Transparent financial Ecosystem and you don't need a genie to tell you that it's for real, anyways most Bitcoin mining are now done with renewable energy and as time progresses, more and more advanced methods of generating renewable energy would be invented. If Bitcoin is just a plot to make money from power, please I am beseeching the powers that be that we need more plots like this, it would definitely make the world a better place.
Congratulations to BTC and congratulations to all of us who are using it because we own the future.

rdbase

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The 18 millionth bitcoin has been mined so only 3 million left to go! Wink

https://thenextweb.com/hardfork/2019/10/19/satoshi-nakaboto-18-million-of-the-21-million-bitcoins-have-now-been-mined
Anthony pompliano posted on twitter when it happened.
https://twitter.com/APompliano/status/1185346573779243008
This is a milestone so do you agree this will pump up the price as we are getting closer to the end of our king of all cryptocurrency blocks being solved? Undecided

Topic: 18,000,000 bitcoins have been mined! - page 2. (Read 267 times)