20% of Bitcoin Remaining? | Bitcointalksearch.org

stompix

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Quote from: markj113 on May 14, 2018, 08:58:29 AM

0.00088% of addresses own 17.49% of Bitcoin
0.01% of addresses own 20.47% of Bitcoin
0.10 of addresses own 21.9% of Bitcoin
0.94% of addresses own 28.02% of Bitcoin
3.06& of addresses own 7.02% of Bitcoin
41.93% of addresses own 0.01% of Bitcoin
24.94% of addresses own 0.09% of Bitcoin
19.61% of addresses own 0.53% of Bitcoin
9.41% of addresses own 2.84% of Bitcoin

.00000748% of addresses own 0.73% of Bitcoin

Summary
4.1% of addresses own 96.53% of Bitcoin
95.89% of addresses own 3.47% of Bitcoin

Wasn't it nice of the elitists to allow you to own 3.5% of Bitcoin?

Addresses !!!! Not wallets. Not individuals.
There are ~ 60 addresses with ~ 2000 coins and they all belong to the same wallet. And seeing how things are going right now, most of them will end up in the pockets of one fat frappucino lower.
Same stands for the Winklevoss coins.

But on the bright side, the top 5 addresses that hold around 600k BTC or 3% of the coins are actually all cold storage so they don't belong to 5 individuals but to god knows how many users.

Lucius

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Quote from: 1Referee on May 14, 2018, 09:42:14 AM

Quote from: markj113 on May 14, 2018, 08:58:29 AM

Summary
4.1% of addresses own 96.53% of Bitcoin
95.89% of addresses own 3.47% of Bitcoin

Wasn't it nice of the elitists to allow you to own 3.5% of Bitcoin?

With the continous shakeouts of weak hands and institutions slowly filtering the market we'll see the rations become even worse.

1% of the addresses will own 99% of the existing Bitcoins.
99% of the addresses will own 1% of the existing Bitcoins.

Bitcoin's market as a whole is just a joke for large institutions, and while people are panicking about how the correction took us back to $6000 levels a few months ago, there has been and still is some serious accumulation going on in the background. Wall street & Co weren't the first to join the party, but they will make up for it and buy the market to record highs, that's pretty much a guarantee. Corrections are a perfect event to speed things up a notch or five.

If people thought the wealth distribution in the fiat world was bad and Bitcoin would be the exception, then prepare yourself for a big disappointment.

I do not know from where is come this data, but I think this should not be taken literally. Bitcoin is on the open market and almost everyone who wants to buy it will find a way to do it. Since BTC is live from 2009 and it was very cheap in first years of its existence who is guilty that someone did not recognize the opportunity and invest 50$ or 100$ and keep that coins until today? Or to not use faucets that give 5 BTC just for solving one captcha, or to use PC to mine BTC?

Distribution was fair and open from the start, everyone had a chance - and even some 3-4 years ago price of BTC was only 200$. Blaming institutions, states, big players, Wall Street for unfair distribution is completely wrong. There is almost 4 million BTC to be mined, and lot of coins on exchanges, crypto ATMs waiting for new owners.

magneto

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Quote from: evichi on May 11, 2018, 10:32:06 AM

A report have it that out of 21million Bitcoins, 16.8 million coins have been mined (investipedia). This means 80% of the coins have been mined. That means we have fewer coins available till 2140 (when all the coins would be mined). The question is, What will be the value of bitcoin? What is the current rate of mining? Will the price go up too high because the remaining Bitcoin is small?

The bitcoin price isn't solely dependent on the amount of coins that are left to mine. The stage of the bull/bear market cycle that bitcoin is currently in, as well as recent news which all influence the current supply and demand of coins will still matter and influence pricing the most.

Bitcoin's value comes with its enforced scarcity, much like gold and silver. I personally believe BTC and gold have a lot in common, in terms of their economic characteristics.

In the long run, as long as adoption and usage rate of BTC as a currency outpaces the inflation at which bitcoin's monetary supply grows (which should happen almost every year from now on, for a long time), then prices will naturally rise. So you're right, to some degree.

gabmen

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Quote from: yvesp110 on May 16, 2018, 02:55:55 PM

Quote from: bengsabeng on May 14, 2018, 11:05:26 AM

now it's about 17 million bitcoins that have been successfully mined, that means there are only 4 million bitcoin left. You are right 80% bitcoin is already in circulation and only 20% will be mined.

That is way cool if we still have such an enormous amount of bitcoin to be mined out because still there are masses who are unaware of crypto currencies on the whole. I am sure we are going to get all mined by 2020 because by then, majority of the world population would be aware of bitcoin the way social media is promoting it. We would need more bitcoin when everybody is going to use it frequently.

You do understand that that's not how mining works right? And experts even say that the last bitcoin won't be mined until well beyond 2100 at this rate. 2020 is the year john mcafee either eats his dick or we become millionnaires, not the last btc mined

Qartersa

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Quote from: richardsNY on May 16, 2018, 03:20:18 PM

Quote from: yvesp110 on May 16, 2018, 02:55:55 PM

I am sure we are going to get all mined by 2020 because by then, majority of the world population would be aware of bitcoin the way social media is promoting it. We would need more bitcoin when everybody is going to use it frequently.

If you mean we are going to see all coins mined by 2020 then you are wrong, very much so. Currently, if everything remains unchanged, the last few satoshis will be mined somewhere in 2140, which is something we all won't ever get to experience. On top of that, we don't need more Bitcoins. The main point of importance is that as the price keeps going up, people will only be able to afford smaller chunks of a whole coin, where eventually people will be dealing with Satoshis -- as you may or may not know, 1 BTC can be split into 100,000,000 Satoshis. In easy terms, there will be enough Satoshis for everyone to use, so there is no need to worry about shortages of available coin supply.

Just plain ignorance from yvesp110. He doesn't even know the mechanics of Bitcoins and cryptocurrencies and how it is mined. richardsNY explained it quite well. Bitcoins can be subdivided in to satoshis which would possibly be enough for the whole population to get hold of. And anyway, bitcoins will likely not really be the go to form of payment anyway, bitcoins are like gold. It's inconvenient to pay in gold which is similar to bitcoins in this case.

richardsNY

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Quote from: yvesp110 on May 16, 2018, 02:55:55 PM

I am sure we are going to get all mined by 2020 because by then, majority of the world population would be aware of bitcoin the way social media is promoting it. We would need more bitcoin when everybody is going to use it frequently.

If you mean we are going to see all coins mined by 2020 then you are wrong, very much so. Currently, if everything remains unchanged, the last few satoshis will be mined somewhere in 2140, which is something we all won't ever get to experience. On top of that, we don't need more Bitcoins. The main point of importance is that as the price keeps going up, people will only be able to afford smaller chunks of a whole coin, where eventually people will be dealing with Satoshis -- as you may or may not know, 1 BTC can be split into 100,000,000 Satoshis. In easy terms, there will be enough Satoshis for everyone to use, so there is no need to worry about shortages of available coin supply.

yvesp110

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Quote from: bengsabeng on May 14, 2018, 11:05:26 AM

now it's about 17 million bitcoins that have been successfully mined, that means there are only 4 million bitcoin left. You are right 80% bitcoin is already in circulation and only 20% will be mined.

That is way cool if we still have such an enormous amount of bitcoin to be mined out because still there are masses who are unaware of crypto currencies on the whole. I am sure we are going to get all mined by 2020 because by then, majority of the world population would be aware of bitcoin the way social media is promoting it. We would need more bitcoin when everybody is going to use it frequently.

liamnorthcoins

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Quote from: evichi on May 11, 2018, 10:32:06 AM

A report have it that out of 21million Bitcoins, 16.8 million coins have been mined (investipedia). This means 80% of the coins have been mined. That means we have fewer coins available till 2140 (when all the coins would be mined). The question is, What will be the value of bitcoin? What is the current rate of mining? Will the price go up too high because the remaining Bitcoin is small?

We canno tell the exact amount of how much remaining bitcoin are there to mine. All are just allegations and presumptions. Well, naturally the price of bitcoin will rice because of limited bitcoins the lesser it get the higher the price will get but we can never tell how much percentage of bitcoin is left actually.

cellard

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Quote from: Slow death on May 11, 2018, 03:33:00 PM

Quote from: evichi on May 11, 2018, 10:32:06 AM

Will the price go up too high because the remaining Bitcoin is small?

this will depend on if there is a lot of demand, and from what you can see the governments are being relentless to the world of the crypto, you just see this:

S. Korea’s Largest Crypto Exchange Upbit Investigated By Police, Markets React

probably this has affected the price, then you should imagine that if many governments are tougher against bitcoin then the price may fall and fall, we need to expect that in the next years governments have made less heavy regulations against bitcoin, which are regulations that create a lot of demand for bitcoin

Governments can only slow down the price growth, but overall the uptrend is intact, as the fundamentals never change no matter how many fiat exchanges they ban, or howm any outlandish bans on Bitcoin possession they could pass.

What makes Bitcoin desirable remains, and that is, the fact that governments can't destroy it. These news only kick out these that do not deserve holding Bitcoin to begin with, since if you are here to panic sell every time government X says Y, you aren't going to make it anyway. Just give your bitcoins to someone that actually has a clue on what Bitcoin is.

bengsabeng

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now it's about 17 million bitcoins that have been successfully mined, that means there are only 4 million bitcoin left. You are right 80% bitcoin is already in circulation and only 20% will be mined.

1Referee

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Quote from: markj113 on May 14, 2018, 08:58:29 AM

Summary
4.1% of addresses own 96.53% of Bitcoin
95.89% of addresses own 3.47% of Bitcoin

Wasn't it nice of the elitists to allow you to own 3.5% of Bitcoin?

With the continous shakeouts of weak hands and institutions slowly filtering the market we'll see the rations become even worse.

1% of the addresses will own 99% of the existing Bitcoins.
99% of the addresses will own 1% of the existing Bitcoins.

Bitcoin's market as a whole is just a joke for large institutions, and while people are panicking about how the correction took us back to $6000 levels a few months ago, there has been and still is some serious accumulation going on in the background. Wall street & Co weren't the first to join the party, but they will make up for it and buy the market to record highs, that's pretty much a guarantee. Corrections are a perfect event to speed things up a notch or five.

If people thought the wealth distribution in the fiat world was bad and Bitcoin would be the exception, then prepare yourself for a big disappointment.

markj113

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Activity: 2254

Merit: 1043

0.00088% of addresses own 17.49% of Bitcoin
0.01% of addresses own 20.47% of Bitcoin
0.10 of addresses own 21.9% of Bitcoin
0.94% of addresses own 28.02% of Bitcoin
3.06& of addresses own 7.02% of Bitcoin
41.93% of addresses own 0.01% of Bitcoin
24.94% of addresses own 0.09% of Bitcoin
19.61% of addresses own 0.53% of Bitcoin
9.41% of addresses own 2.84% of Bitcoin

.00000748% of addresses own 0.73% of Bitcoin

Summary
4.1% of addresses own 96.53% of Bitcoin
95.89% of addresses own 3.47% of Bitcoin

Wasn't it nice of the elitists to allow you to own 3.5% of Bitcoin?

harrypot

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20% of bitcoin is remaining its true but we have to see the future because nowadays bitcoin price is increasing day by day also bitcoin price may increase more than 100k $ so it’s a good news for investors who are investing money on bitcoin and because of mining the bitcoin value is certainly stopped but it will increase very soon I guess. Because of bitcoin others crypto currency systems are falling because its increasing.

Lucius

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Quote from: goldminecrypto on May 13, 2018, 06:07:44 PM

5 million are still have to mine so don't panic, i believe after completing 21 million Bitcoins, the price will be sky high. right now 1 token price is proximitly 8592.01 US Dollar. in 2140 price will be sky high, i can't even imagine. BTCBTC

You should read some post in this thread before you write anything, there is less then 4 million BTC left to bi mined since number of mined coins has passed the number of 17 millions. Also year 2140 is for all of us completely irrelevant, we should all focus in the near future. By the year 2032 almost 99% of all BTC will bi mined, so we can say that amount of new coins which will remain to be mined will not represent an important factor. In the meantime there will be few halvings (2020, 2024, 2028, 2032 ) so after each time production of BTC will be reduced for 50%.

So 19% of what is left will be mined in next 14 years, that 1% will remain for next 100+ years.

traderethereum

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Quote from: evichi on May 11, 2018, 10:32:06 AM

A report have it that out of 21million Bitcoins, 16.8 million coins have been mined (investipedia). This means 80% of the coins have been mined. That means we have fewer coins available till 2140 (when all the coins would be mined). The question is, What will be the value of bitcoin? What is the current rate of mining? Will the price go up too high because the remaining Bitcoin is small?

we still need a long time to mining bitcoin until it's empty and I guess that the value of bitcoin will become expensive. I don't know about the current rate of mining because I am not mining in my home so I don't know how to calculate it. I only know that if supply is reduced, it will give impact to the increasing of the price and will make bitcoin price is too expensive to buy.

goldminecrypto

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5 million are still have to mine so don't panic, i believe after completing 21 million Bitcoins, the price will be sky high. right now 1 token price is proximitly 8592.01 US Dollar. in 2140 price will be sky high, i can't even imagine. BTCBTC

Denker

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Quote from: cryptobluemoon on May 13, 2018, 03:05:45 AM

20 percent of bitcoin take 20 years to get mined we need to wait until next twenty years to see all bitcoins mined and price will be around 1 million dollars

This is not correct.
The last Bitcoin will never be mined completely.
Until 2036 more than 99.2% of the total supply will be mined. -> https://en.bitcoin.it/wiki/Controlled_supply
But keep in mined that already a good portion is lost forever. Some estimate that's a number 2-4 million coins, Satoshi's stash included.
So although we are still in the accumulation phase, the race and fight for the last 20% has already begun. Furthermore keep in mind that many coins are in strong hands and held in cold storage and therefore only a tiny fraction can be traded over the exchanges.
Therefore imo it's just a question of time before we see a crazy exponential price increase, which of course will be influenced by user growth and all the different network effects of BTC feeding each other.

sainaselalisa

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Only 20 percent of Bitcoin is left for being mned. It depends more on its demand now. Surely, it is going to be more expensive now.

cryptobluemoon

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20 percent of bitcoin take 20 years to get mined we need to wait until next twenty years to see all bitcoins mined and price will be around 1 million dollars

JanpriX

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The logical answer to your question is that its price will definitely go up because of the law of supply and demand. But, I can't talk like this with any assurance at all because what you're asking is what will happen in a very distant future. Anything can happen and even if the supply in that future will be very diminished, we can't always say that its price will soar high.

What I'm trying to do right now is to live in the present day (in cryptosphere) and trade/invest based on the facts that we have right now. I know that this is speculation but I think this is a very moot point to talk over. Just saying. Roll Eyes

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