21 million Bitcoin | Bitcointalksearch.org

ensurance982

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Quote from: TheRealSteve on April 10, 2015, 11:31:07 AM

Hey, I'm happy to be that guy Grin

You can check the wiki for my thoughts on this - I use '21 million' myself most of the time anyway because I can't be bothered to look it up/remember.
But when there's a technical discussion, might as well get technical. The discussion was originally about 'what happens if', and I only came in when the year in which that would happen became a subject. And as the ensuing discussion shows, it doesn't hurt to educate

Haven't people found out that there used to be a bug that would restart the block reward at 50 BTC again, after all coins have been mined? That would've been funny Cheesy

tokeweed

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Quote from: ToQcHista on April 05, 2015, 03:52:38 AM

Hi gusy

What will happens when will create 21 million bitcoin ?

will start bitcoin price increase ?

Eho's gusy?

TheRealSteve

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FUN > ROI

Hey, I'm happy to be that guy Grin

You can check the wiki for my thoughts on this - I use '21 million' myself most of the time anyway because I can't be bothered to look it up/remember.
But when there's a technical discussion, might as well get technical. The discussion was originally about 'what happens if', and I only came in when the year in which that would happen became a subject. And as the ensuing discussion shows, it doesn't hurt to educate

thejaytiesto

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Quote from: TheRealSteve on April 07, 2015, 01:40:30 PM

Quote from: ToQcHista on April 07, 2015, 01:16:38 PM

soon

no, though that might depend on your definition of soon Tongue

Quote from: ToQcHista on April 07, 2015, 01:16:38 PM

will become 21 million .

No, but close enough for most purposes. In fact, if we're putting block 2,100,000 as being close enough (~20979500 BTC supply and already past the knee of the controlled supply), that's still not estimated to be somewhere between the years 2040 and 2050.

Quote

https://blockchain.info/charts/total-bitcoins

Keep in mind that only shows a current view on a slightly misleading scale. See the full scale:
https://blockchain.info/charts/total-bitcoins?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=
Notice the corner at around 10,000,000? That's where the reward was halved. Reward halving is why the first 10M took 'only' ~4 years, while the next 10M will take ~14 years. You're basically looking at only the green part of this curve:

Lol, there is always THAT GUY that has to explain how there isn't exactly 21 million coins going to be generated in total

gentlemand

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Welt Am Draht

Quote from: Kprawn on April 06, 2015, 02:09:54 AM

I think OP was asking in a "what if" scenario .... even though he will not be there when it happens... Wink

The price will most probably increase, if there are still people using it and mining it, but at the rate technology improve, we predict that Bitcoin would not be in use, because it would be replaced with a much better technology.

So in theory... 21 million Bitcoins can be mined, but I would bet against that ever happening. Wink

There'll be some nostalgic computer scientist who mines the final dust from the original blockchain on their toilet or fingernail computer.

Once enough money is poured in, 'good enough' is a powerful incentive to keep things as they are. It's not a myspace/facebook where you can skip to the new technology with a couple of clicks and lose nothing.

Perhaps bitcoin will slowly morph as the years go by with the original token on the chain being fully transferable to a fresher incarnation.

GreydonIselmoe

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Quote from: ToQcHista on April 08, 2015, 10:39:30 AM

Quote from: Amph on April 08, 2015, 10:30:12 AM

Quote from: ToQcHista on April 08, 2015, 10:24:58 AM

i can't undertood.

What is dependent bitcoin increase ?

limited supply, interest of people/adoption, luck with various news, there isn't a general rule, but supply and adoption are the most important(45% both i would say, 10% for the rest)

much people that will have, will increase bitcoin price ?>

I think what he's trying to say is, does more users/adopters mean the price will go up.

And the answer is most likely yes.

mrhelpful

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Its a fixed supply, so anything beyond that will prob become more of a miner fee.

And it acts more of gold concept, rather then a fiat concept. Which most people still find it hard to believe but its been comparing to gold standard.

ToQcHista

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ToQcHista

Quote from: Amph on April 08, 2015, 10:30:12 AM

Quote from: ToQcHista on April 08, 2015, 10:24:58 AM

i can't undertood.

What is dependent bitcoin increase ?

limited supply, interest of people/adoption, luck with various news, there isn't a general rule, but supply and adoption are the most important(45% both i would say, 10% for the rest)

much people that will have, will increase bitcoin price ?>

Amph

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Quote from: ToQcHista on April 08, 2015, 10:24:58 AM

i can't undertood.

What is dependent bitcoin increase ?

limited supply, interest of people/adoption, luck with various news, there isn't a general rule, but supply and adoption are the most important(45% both i would say, 10% for the rest)

ToQcHista

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ToQcHista

i can't undertood.

What is dependent bitcoin increase ?

umair01

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Quote from: ToQcHista on April 05, 2015, 03:52:38 AM

Hi gusy

What will happens when will create 21 million bitcoin ?

will start bitcoin price increase ?

When all the Bitcoins are mined, it should raise the price really high and my friend it will take so much time and i doubt anyone alive atm will be alive by then.

Muhammed Zakir

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Quote from: gkv9 on April 08, 2015, 08:26:34 AM

Why it doesn't have to do anything with number of people possessing it, MZ???
If least people are possessing these coins (like many hodling), can't they try to manipulate the price higher just because they hold the biggest piece of the cake (in such a case where demand is much more as if it gets mainstream) Huh

Read carefully.

Quote from: Muhammed Zakir on April 08, 2015, 07:11:58 AM

Price may increase but it doesn't depend solely on number of people and it is same with transactions too.

Meaning of solely: "Not involving anyone or anything else; only."

What you said is "assumption" and we can't completely depend on it. Another problem is, even though people try to buy and sell Bitcoin to gain profit, people who buy try their best to lower the buy price and most sellers in exchanges, lower their price slightly. This doesn't mean prive only decrease but because of this we can't see a big rise in price very fastly.

If demands are higher and Bitcoins are less, price will increase but there will be people everytime who will sell at buy price. Like I said, price can't depend "solely on" number of people.

gkv9

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Quote from: Muhammed Zakir on April 08, 2015, 07:11:58 AM

Quote from: ToQcHista on April 08, 2015, 06:57:00 AM

will increase btc price and increase transaction if will add people

Price may increase but it doesn't depend solely on number of people and it is same with transactions too.

Why it doesn't have to do anything with number of people possessing it, MZ???
If least people are possessing these coins (like many hodling), can't they try to manipulate the price higher just because they hold the biggest piece of the cake (in such a case where demand is much more as if it gets mainstream) Huh

Muhammed Zakir

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Quote from: ToQcHista on April 08, 2015, 06:57:00 AM

will increase btc price and increase transaction if will add people

Price may increase but it doesn't depend solely on number of people and it is same with transactions too.

ToQcHista

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ToQcHista

Quote from: Muhammed Zakir on April 08, 2015, 06:51:43 AM

Quote from: ToQcHista on April 08, 2015, 06:40:41 AM

in mining few people good is ? if much people more good is ?

AFAIK how many people mine doesn't matter. What matter is how many Hashes are being used for mining.

will increase btc price and increase transaction if will add people

Muhammed Zakir

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Quote from: ToQcHista on April 08, 2015, 06:40:41 AM

in mining few people good is ? if much people more good is ?

AFAIK how many people mine doesn't matter. What matter is how many Hashes are being used for mining.

ToQcHista

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ToQcHista

in mining few people good is ? if much people more good is ?

crazyivan

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You will not live long enough to see that happen. The last one should be mined in about 100 years. The price ll go up much sooner then that.
I would suggest you do a bit more of reading.

Muhammed Zakir

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Quote from: ToQcHista on April 08, 2015, 01:09:19 AM

what is this "block " ?

Quote from: ToQcHista on April 08, 2015, 01:14:06 AM

As I understood , we much block don't should spend? Few people more fine is if much people in mining ?

Can you clariy? Are you using a translator? If yes, post in your local language with translated text. It is better to check twice before posting here.

ToQcHista

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ToQcHista

As I understood , we much block don't should spend? Few people more fine is if much people in mining ?

Topic: 21 million Bitcoin (Read 2595 times)