90% is already there, only 10% is left

Digitalbitcoin

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Quote from: sunsilk on December 15, 2021, 12:33:15 PM

Lesser supply, higher price.

Yes But still need to calculate the dominance of Bitcoins in the total market with a single currency BTC. Because Bitcoin(BTC) is the prime/master currency among the crypto market, hence investments in other altcoins excluding independent Bitcoin market cap is already huge. And remaining is an independent asset is available for trading along with holding.

Quote from: sunsilk on December 15, 2021, 12:33:15 PM

And while most of us are holding it, there's now actual lesser supply in the economy. There goes the institutions that are saving for themselves and buying as many as they can.

This could take bitcoins price to unexpected heights. To date, no governments have a clear vision towards bitcoin implementation in day-to-day use. But in the future, it will definitely be necessary.

Quote from: sunsilk on December 15, 2021, 12:33:15 PM

Get to hold and accumulate while we still can. There goes the halving within the next 3 years and the harder the mining difficulty and lesser in reward, the greater price would be in valuation.

Reducing supply according to time is a great protocol integrated by Satoshi Nakamoto considering future supply, and demand.

joker_josue

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Quote from: noorman0 on December 27, 2021, 01:32:00 AM

Quote from: OcTradism on December 15, 2021, 08:00:17 AM

Fact is 50% of Bitcoin was mined from 2009 to 2012, 75% till 2016, 87.5% till 2020 and 93.75% till 2024. It means most of Bitcoin was mined and was exchanged at very cheap price. Many of them lost because of cheap price and carelessness.

Interesting.

Did you also measure the total marketcap in the years in which bitcoin was traded so cheaply? If they knew that bitcoin would be what it is today so they still hold and keep buying, would you be able to get a small piece to hold on to?

I have said before, that people who feel sorry for the past who dumped their bitcoins are not alone. There is nothing wrong with trading bitcoin in the past, in fact it has opened up the flow of marketcap to gradually increase over time.

It was also the fact that those who mined and managed to buy a lot of Bitcoin in the past, which allowed the mining network to grow as it grew. If BTC were not appreciated and sold to buy more equipment and support costs, the network would certainly not have as much processing capacity as it is today. And we weren't writing on this topic now.

noorman0

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Quote from: OcTradism on December 15, 2021, 08:00:17 AM

Fact is 50% of Bitcoin was mined from 2009 to 2012, 75% till 2016, 87.5% till 2020 and 93.75% till 2024. It means most of Bitcoin was mined and was exchanged at very cheap price. Many of them lost because of cheap price and carelessness.

Interesting.

Did you also measure the total marketcap in the years in which bitcoin was traded so cheaply? If they knew that bitcoin would be what it is today so they still hold and keep buying, would you be able to get a small piece to hold on to?

I have said before, that people who feel sorry for the past who dumped their bitcoins are not alone. There is nothing wrong with trading bitcoin in the past, in fact it has opened up the flow of marketcap to gradually increase over time.

witcher_sense

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Quote from: joker_josue on December 21, 2021, 12:26:09 PM

A very interesting observation. It took about 50 years, after the rise of the personal computer and the Internet, for the blockchain to emerge.

Bitcoin will only be 100% mined in more than 100 years. But what guarantee do we have that blockchain technology, 50 years from now (or less as the technology goes faster and faster), there won't be a new technology that will lead people to consider the blockchain as something outdated.

Will it be that after that time, Bitcoin will continue to have a high value in the market, or will it start to devalue, given the new technologies?

The "blockchain technology" that everyone is excited about is, in fact, an outdated, slow, and boring technology, which brings nothing new to this world. It won't become obsolete in the future because it already is today. Because what is the "blockchain technology" basically? It is just one of the ways to write down the order of something. There is nothing innovative about this. But why then Bitcoin is considered to be a breakthrough in technology if it was based on old and ugly blockchain technology? It is Bitcoin and its consensus algorithm, in particular, that have made blockchain an immutable, censorship-resistant, unstoppable system. They took an obsolete, slow and ugly design and turned it into innovative and interesting technology. If people come up with new ways of recording the sequence of transactions (they already try in altcoins), it won't affect Bitcoin in any way because it is not essential for its functionality and therefore doesn't require Bitcoin to be changed.

Molinology

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Quote from: Japinat on December 21, 2021, 06:37:36 PM

What more can we ask for at this moment, bitcoin had its bull run where the price skyrocketed, and even if we see this many times but if it would only result in a huge correction, I think the market will not mature because of the high volatility like this brought by manipulation.

We need some real adoption and hopefully when every supply will be mine the market will be less stable and probably more regulated so we will reach our goal of massive adoption.

We might reach our goals of mass adoption but don’t you think that it would adversely affect the environment and lives.

Japinat

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What more can we ask for at this moment, bitcoin had its bull run where the price skyrocketed, and even if we see this many times but if it would only result in a huge correction, I think the market will not mature because of the high volatility like this brought by manipulation.

We need some real adoption and hopefully when every supply will be mine the market will be less stable and probably more regulated so we will reach our goal of massive adoption.

ultrloa

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Quote from: Lizzylove1 on December 21, 2021, 04:19:52 PM

As we mine more and more of the total supply, sellers and miners will het greedy because it could go out of their purchasing power if they keep selling at just any rate because it's imminent that bitcoin is certainly going to blow off the roof as time goes on.

I think you got the wrong idea here and I don't think miners would just do that carelessly. Besides, only supply and demand is doing all the price changes and not to mention the halving cycle every four years which makes the price to get stricter due to getting less of supplies (bitcoin). Miners difficulty will also increase and that would take them some time to mine bitcoins so I don't think what you are thinking is what they are going to do.

Lizzylove1

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As we mine more and more of the total supply, sellers and miners will het greedy because it could go out of their purchasing power if they keep selling at just any rate because it's imminent that bitcoin is certainly going to blow off the roof as time goes on.

Rufsilf

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Quote

So far, 90 percent of the possible 21 million Bitcoins have already been mined, but it may take up to 2140 to mine the remaining 10 percent.

Source: https://www.cnbctv18.com/cryptocurrency/why-crypto-bill-is-unlikely-to-be-taken-up-in-ongoing-winter-session-of-parliament-11887082.htm

Then I think bitcoins price would appreciate even more as time goes by especially when then mined bitcoins is already at 95% to 98% stage. The bitcoin's value would surely rise in an unprecedented value because of it's scarcity. 50 years from now, bitcoin's future is at unpredictable stage and we can't predict what's likely to happen as bitcoin's ecosystem is not yet fully developed.

joker_josue

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Quote from: so98nn on December 21, 2021, 07:06:36 AM

Moreover, what if peeps started switching to something bigger, something excellent than this and if blockchain became obsolete then what? I am not saying it will happen suddenly but what if?

What if there is whole new era of such AI tech, something straight out of the sci-fi which under appreciates the blockchain? There are endless possibilities in the same fashion as it did after blockchain was invented.

A very interesting observation. It took about 50 years, after the rise of the personal computer and the Internet, for the blockchain to emerge.

Bitcoin will only be 100% mined in more than 100 years. But what guarantee do we have that blockchain technology, 50 years from now (or less as the technology goes faster and faster), there won't be a new technology that will lead people to consider the blockchain as something outdated.

Will it be that after that time, Bitcoin will continue to have a high value in the market, or will it start to devalue, given the new technologies?

so98nn

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Though its thumb rule that as the supply reduces and demand increases the valuations of X thing will always be at its peak. However, we are talking about bitcoin, a technological innovation that was set around a decade ago and its obviously doing great at current pace; but its factual world and things get out dated at very faster rate. You never know what surprise will be up ahead associated with the blockchain technology. Moreover, what if peeps started switching to something bigger, something excellent than this and if blockchain became obsolete then what? I am not saying it will happen suddenly but what if?

What if there is whole new era of such AI tech, something straight out of the sci-fi which under appreciates the blockchain? There are endless possibilities in the same fashion as it did after blockchain was invented.

joker_josue

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Quote from: Kimonoe on December 21, 2021, 12:49:00 AM

right, as long as there are transactions, mining will never stop, especially after this, of course, there will be more transactions because there are more bitcoin users, especially if more countries adopt it, of course there will be more transactions. and we are entering a new era where bitcoin will be getting higher in price because those who need more and more are selling less, and almost all of the supply is on the market

It is a fact that mining will not end when all the Bitcoins are extracted. We will probably give this network management/maintenance process another name.

It remains to be seen whether the price will remain high enough for miners to continue feeding the network.

Kimonoe

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Quote from: Dhaniii on December 20, 2021, 11:15:08 PM

Quote from: Ultegra134 on December 19, 2021, 08:02:22 AM

Quote from: Ararbermas on December 19, 2021, 02:29:44 AM

We are wondering what will happen to bitcoin if its all done, i mean totally mined..?perhape it just circulating wherein those mined will not be lost wherein it will keep floating in the space and still working how the way it works, especially those lost wallet and satoshi wallet that becomes so popular in the internet because of the amount of it, so perhaps for that reason bitcoin will not last. Just saying. Grin

We probably won't be alive to see that, mining difficulty rises as times goes by, with more and more blocks being mined. Definitely, the supply of BTC is limited and has been severely impacted, with millions of coins being lost on the blockchain forever. Thus, the available coins are way fewer than the 19 million, currently in circulation.

I bet that in a few years, for that same reason, the price will skyrocket, becoming

I think mining btc never stops as long as bitcoin transactions are still around. even though the mining analysis assumes that the remaining 10% is still there, it doesn't run out unless bitcoin is dead and no longer transacting. the future prospect of bitcoin is that there are more and more enthusiasts and the greater the level of transactions, especially when some countries plan to make bitcoin a legal medium of exchange, the transaction rate can no longer be contained.

right, as long as there are transactions, mining will never stop, especially after this, of course, there will be more transactions because there are more bitcoin users, especially if more countries adopt it, of course there will be more transactions. and we are entering a new era where bitcoin will be getting higher in price because those who need more and more are selling less, and almost all of the supply is on the market

Monochroic

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I agree that all the bitcoins are not mined yet. But what we already have is also not that less since there are not many people who buy and sell cryptocurrencies the way they do international currencies.

Dhaniii

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Quote from: Ultegra134 on December 19, 2021, 08:02:22 AM

Quote from: Ararbermas on December 19, 2021, 02:29:44 AM

We are wondering what will happen to bitcoin if its all done, i mean totally mined..?perhape it just circulating wherein those mined will not be lost wherein it will keep floating in the space and still working how the way it works, especially those lost wallet and satoshi wallet that becomes so popular in the internet because of the amount of it, so perhaps for that reason bitcoin will not last. Just saying. Grin

We probably won't be alive to see that, mining difficulty rises as times goes by, with more and more blocks being mined. Definitely, the supply of BTC is limited and has been severely impacted, with millions of coins being lost on the blockchain forever. Thus, the available coins are way fewer than the 19 million, currently in circulation.

I bet that in a few years, for that same reason, the price will skyrocket, becoming

I think mining btc never stops as long as bitcoin transactions are still around. even though the mining analysis assumes that the remaining 10% is still there, it doesn't run out unless bitcoin is dead and no longer transacting. the future prospect of bitcoin is that there are more and more enthusiasts and the greater the level of transactions, especially when some countries plan to make bitcoin a legal medium of exchange, the transaction rate can no longer be contained.

josephdd1

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Quote from: joker_josue on December 15, 2021, 06:00:26 AM

On December 13, 2021, 90% of the total Bitcoin supply was mined.

It took 12 years for 18.899 million units of the main digital currency on the market to be extracted. However, the remaining 10% should take around 100 years to enter into circulation.

From 90% already in circulation, about 3.7 million Bitcoins are reported as "lost", due to users losing their password or the death of the holders.

Do you think it will be now that Bitcoin starts to appreciate even more?
What are your prospects for the next few years with regard to Bitcoin?

Bitcoin is limited and this fact gives additional value to it. Everything that is not infinite is appreciated much more. As for the nearest future, I think that Bitcoin will be adopted as a means of payment by more and more companies and countries with a weak economy. The price that I predict for Bitcoin is around 200 000$.
Actually, I don't know when the last Bitcoin will be mined as mining difficulty rises within time.

barabarian1

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holder will win if 10% mined. i mean, bitcoin be good field now, people still find to get it as much as they can. and when the last piece of bitcoin mined, this no other bitcoin to be mine. holder have big advantage than other, and become something big bomb to crypto user.

Quote from: Ultegra134 on December 19, 2021, 08:02:22 AM

Quote from: Ararbermas on December 19, 2021, 02:29:44 AM

We are wondering what will happen to bitcoin if its all done, i mean totally mined..?perhape it just circulating wherein those mined will not be lost wherein it will keep floating in the space and still working how the way it works, especially those lost wallet and satoshi wallet that becomes so popular in the internet because of the amount of it, so perhaps for that reason bitcoin will not last. Just saying. Grin

We probably won't be alive to see that, mining difficulty rises as times goes by, with more and more blocks being mined. Definitely, the supply of BTC is limited and has been severely impacted, with millions of coins being lost on the blockchain forever. Thus, the available coins are way fewer than the 19 million, currently in circulation.

I bet that in a few years, for that same reason, the price will skyrocket, becoming

the price will be fantastic if they mine all btc, news will lively, people exited about what is the next move.

LUCKMCFLY

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Quote from: savetheFORUM on December 19, 2021, 08:03:46 AM

Quote from: joker_josue on December 15, 2021, 06:00:26 AM

Do you think it will be now that Bitcoin starts to appreciate even more?
What are your prospects for the next few years with regard to Bitcoin?

Yeah, there are possibilities for bitcoin to grow in exponential incoming days by considering the supply against rapidly increasing demands. At the same time, I was expecting bitcoin to be increasing at least 5x from its ATH of 2017 this year but it failed and delivered only around 3x growth so far in 2021.

Like many people here, I am also confident about having bull run in 2022 which might take us to similar growth which could be above $100k levels. People who are holding must be enjoying and we should take them as a role model to follow.

Everyone expects this result and at the same time it is something bad, always in every speculative market the whales if they manipulate the market according to people's emotions and if everyone expects the BTC to reach $ 100k or more, it is most likely that it will not succeed , because the whales' plans are much more intelligent than the rest, it will probably drop in price and when they are all in the Short position is when they will make the BTC explode, just to buy and skip all their Stop Loss and be able to earn much more when they decide to raise the BTC.

savetheFORUM

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Quote from: joker_josue on December 15, 2021, 06:00:26 AM

Do you think it will be now that Bitcoin starts to appreciate even more?
What are your prospects for the next few years with regard to Bitcoin?

Yeah, there are possibilities for bitcoin to grow in exponential incoming days by considering the supply against rapidly increasing demands. At the same time, I was expecting bitcoin to be increasing at least 5x from its ATH of 2017 this year but it failed and delivered only around 3x growth so far in 2021.

Like many people here, I am also confident about having bull run in 2022 which might take us to similar growth which could be above $100k levels. People who are holding must be enjoying and we should take them as a role model to follow.

Ultegra134

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Quote from: Ararbermas on December 19, 2021, 02:29:44 AM

We are wondering what will happen to bitcoin if its all done, i mean totally mined..?perhape it just circulating wherein those mined will not be lost wherein it will keep floating in the space and still working how the way it works, especially those lost wallet and satoshi wallet that becomes so popular in the internet because of the amount of it, so perhaps for that reason bitcoin will not last. Just saying. Grin

We probably won't be alive to see that, mining difficulty rises as times goes by, with more and more blocks being mined. Definitely, the supply of BTC is limited and has been severely impacted, with millions of coins being lost on the blockchain forever. Thus, the available coins are way fewer than the 19 million, currently in circulation.

I bet that in a few years, for that same reason, the price will skyrocket, becoming

Topic: 90% is already there, only 10% is left (Read 537 times)