90% is already there, only 10% is left - page 2.

pieppiep

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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

Bitcoin will be rare in the market because only some people or companies will have a large bitcoin. Maybe in that time, the price can be at the very highest price that we never think because bitcoin has become rare. It is still too far from this and we do not even know whether we are still alive to see that will happen in the future. If so, we can witness the bitcoin history that we are part of the early adopters. But I never think much about that instead just think about what I can do now before it is too late.

Rufsilf

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Quote from: kucritt on December 16, 2021, 08:39:10 AM

you are right, the 90% bitcoin already mined, so there are only 10% bitcoinin the world that can be mined, you need to know that the diff increasing. so 10% will be fully mined in a very long time, and if its already mined 100%, i think the price of bitcoin will increase, because the demand will be higher than the supply. am i right?

Yes exactly! But that 10% remaining will somehow be difficult to mine as the block will be much more difficult to solve, as the OP said it would take several years or even decade if possible to mine that remaining 10%. But somehow bitcoin will remain the most trusted and will break many all time highs along the way as the supply is very limited. Also the fiat are depreciating because of the inflation so what will likely to happen is more and more people will start to choose crpytocurrencies over fiat especially bitcoin.

Ararbermas

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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

Wawa2013

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Quote from: davis196 on December 19, 2021, 01:27:39 AM

The remaining amount of Bitcoins to be mined doesn't matter at all.
Only the BTC noobs get fascinated by such data.Does it matter,if the total BTC in existence will be 15 million or 18 million?It doesn't matter to me,for sure. Grin

The future of Bitcoin remains unclear,not because of the BTC community and blockchain,but because of the governments and central banks.You never know when some big country is going to declare Bitcoin and crypto illegal.The FUD will remain forever and the prices will remain volatile forever.
It's pretty easy to predict that the Bitcoin price will be going to the moon,if there was no FUD and the BTC adoption continues.However,this is not the case.

I'm also one of those people who don't really care about the remaining Bitcoin to be mined, maybe because I don't mine Bitcoin. What I care
about is where Bitcoin will go, it will be affected by how the government will take a stance on Bitcoin, the more countries that adopt Bitcoin
will make the price of Bitcoin skyrocket. Likewise, if more and more countries declare Bitcoin illegal, it will make a lot of people panic and
sell their Bitcoin massively. Eventually the Bitcoin price will dump, and I hope that doesn't happen. Bitcoin's future is hard to predict,
but so far it's going pretty well. While more countries are neutral, at least very few countries have actually declared Bitcoin illegal.
Hopefully, more countries will follow in El Salvador's footsteps that legalize Bitcoin as a legal tender. So the price of Bitcoin will continue to rise.

davis196

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The remaining amount of Bitcoins to be mined doesn't matter at all.
Only the BTC noobs get fascinated by such data.Does it matter,if the total BTC in existence will be 15 million or 18 million?It doesn't matter to me,for sure. Grin

The future of Bitcoin remains unclear,not because of the BTC community and blockchain,but because of the governments and central banks.You never know when some big country is going to declare Bitcoin and crypto illegal.The FUD will remain forever and the prices will remain volatile forever.
It's pretty easy to predict that the Bitcoin price will be going to the moon,if there was no FUD and the BTC adoption continues.However,this is not the case.

takngantuk

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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?

highly valued, bitcoin already has a special place now, its role is very important. The topic of discussion about bitcoin or crypto is always hot, and this proves how much bitcoin changes people's minds.

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

What are your prospects for the next few years with regard to Bitcoin?

I wish the regulations weren't too restrictive of bitcoin and crypto. it is better for countries to start opening up with this technology. and start to stop thinking that crypto is like a disease. if this happens mass adoption will probably increase by leaps and bounds to a level I can't imagine.

Gyfts

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Quote from: ChiBitCTy on December 15, 2021, 02:09:41 PM

They do not realize how scarce it is. Most bitcoin owners have no idea.

There'll need to be a lot more mass adoption for scarcity to cause the price to increase, significantly.

Instead of a near 20 million coins, the Bitcoin protocol could have called for a mere 1 million coins, or 2 million coins (number doesn't matter) to be mined over a set time. Supply and demand would predicate the price to be higher by virtue of there being less available coins. So while there might not be enough full coins to go around, that doesn't play into scarcity unless the demand shifts up. For that to happen, I'm thinking there'd need to be a few large currency fails in order to cause mass adoption, and we're a bit far from that as of today.

bL4nkcode

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Limited in number. Limitless in potential.

So close yet so far, huh.

Bitcoin will only be a success within a success if the price will be stable already with low volatility regardless of the high fees for that time. Of course, it will take so much time and acceptance of different government first.

pinggoki

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Quote from: kucritt on December 16, 2021, 08:39:10 AM

you are right, the 90% bitcoin already mined, so there are only 10% bitcoinin the world that can be mined, you need to know that the diff increasing. so 10% will be fully mined in a very long time, and if its already mined 100%, i think the price of bitcoin will increase, because the demand will be higher than the supply. am i right?

That's not going to be happening in our lifetime so I don't see how we should celebrate it, maybe our children will be able to enjoy that and hopefully they will be able to appreciate bitcoin. I think that when the continuous increase in the population and with more people learning about cryptocurrencies, the possibility of growth is limitless, it's just a matter of demand.

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as bitcoins continue to reach new ATH bitcoins are increasingly appreciated and in demand by users all over the world. this proves that bitcoin is capable of becoming a new digital asset that changes the way transactions are revolutionary.
There will be many prospects in the future that take advantage of bitcoin. Some countries are starting to accept bitcoin well and make it legal tender. 10% of the remaining supply will of course continue to be mined and continue to decrease, this will make bitcoins increasingly rare and increasingly sought after by many people. Good future for bitcoin.

joker_josue

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Quote from: onecall123 on December 16, 2021, 09:46:36 AM

Imagine how things will be if Bitcoin becomes more accessible.

If it becomes more accessible (which should happen in the near future), it will necessarily have to improve. First because it's harder and harder to get Bitcoins without buying, and second because there's less and less Bitcoin to mine.

So the main way to get Bitcoins is to buy them, and that will force an appreciation. Because the more adopted Bitcoin is in everyday life, the more people who have Bitcoin will not want to sell. So whoever wants to buy will have to be willing to make a bigger investment.

Of course, there will come a point where the value of Bitcoin, against fiat currencies, will settle down. But at that time the value of Bitcoin has to be significantly high, so that its use in everyday things is viable.

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Quote from: kucritt on December 16, 2021, 08:39:10 AM

you are right, the 90% bitcoin already mined, so there are only 10% bitcoinin the world that can be mined, you need to know that the diff increasing. so 10% will be fully mined in a very long time, and if its already mined 100%, i think the price of bitcoin will increase, because the demand will be higher than the supply. am i right?

Actually you just completely repeat the OP whole content. Maybe you should read it before you make any post on any thread. Besides that, there's no guarantee that the price will increase after that since its only 10% iand it will took 100 years to mine that, So the price increased will happened gradually and not by an instant once the last Bitcoin mined. There will be a lots of roller coaster ride for the price so we can assure that price will gonna be up when that time comes.

onecall123

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This is at least some good news in this red day! More and more people will be joining the 21 million club. There are still 10 percent of bitcoins left to be mined after almost 12 years of mining. Using the equations in another article, it will take another 119 years to reach the maximum. Although Bitcoin's popularity is reaching record highs in the midst of increasing inflation globally, it is still a mystery for the majority of people. Bitcoin's independence, accessibility, and scarcity are still not well understood by the majority. Imagine how things will be if Bitcoin becomes more accessible.

kucritt

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you are right, the 90% bitcoin already mined, so there are only 10% bitcoinin the world that can be mined, you need to know that the diff increasing. so 10% will be fully mined in a very long time, and if its already mined 100%, i think the price of bitcoin will increase, because the demand will be higher than the supply. am i right?

deathcode

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just by being active on social media, we can see how news related to bitcoin and cryptocurrencies continues to grow.
everyone is now getting interested in bitcoin. especially after the price increased this year and left everyone in awe. especially those who play stocks.

So far, bitcoin in my country is still an investment asset. and it's hard to dream of seeing it as a transaction tool. My planning in a few years will not change. will only hold bitcoins until they break through their new ATH.

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Quote from: awik p on December 15, 2021, 07:51:49 AM

with the number of bitcoins lost and 90% of bitcoins already mined, and reduced again by investors who hold bitcoins, there are also fewer bitcoins circulating in the market. so with the scarcity of bitcoin and the increasing interest of new investors to buy, this makes bitcoin even more valuable. especially if more and more countries are legalizing it

Its not the reason that more countries are accepting it ,the 90% of the coin has mined and the 10% is due to come .However many of the holder or investor has lost their key or they have lost it by anyway .I think the the popularity of the coin are increasing day by day and the price become so high .Do you think ever if the whole supply come into the market where the price will stand .I am really exciting it could be gone to the sky .The technology become popular and the total market on the track .We can really dream with this market .I think i am so lucky still we are on the good track and we may invest on it to get good return .

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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?

Of course, bitcoin will have big prospects in the next few years as crypto will grow more than now. We can expect the bitcoin price to be more than $100k or even higher in the next few years, so we can hope that bitcoin will become mainstream because people will be more aware of bitcoin and the number of adoption will increase also increase sharply. But I can not imagine how the price will get more fluctuating as at that time, there could be more people who will want to buy and sell bitcoin, especially if the price drops.

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For sure for the year the bitcoin get halved again I guess nothing new with the people who know the bitcoin already but still there are on no doubt it depends on the market price movement and the investors if they will keep pursuing the investment in bitcoin. For me it's more ideal to hold some of it and wait for the good trend again currently we cannot feel the bitcoin because of the bearish market but of course anything can happen on the market.

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Quote from: Smartvirus on December 15, 2021, 03:03:45 PM

Of course yes, 10% being estimated to be a lot more than 2million BTC yet to be mined seems so much and could take a longer time. Looking at the fact that right now, not everyone can mine bitcoin with the suffistication of its device. Infact, a mining poop which was very much non existence in 2009 and perhaps 2010 has come up to pool resources for a block reward. So, mining the very last millions would be no easy task. Though, bitcoin would continue to appreciate in value and somehow back into circulation as a currency, measuring from the least sat.

The time, in this case, is very precisely defined, and there is no factor here that can slow down or speed up the mining process. Currently, 6.25 BTC is mined per block, which results in about 900 BTC per day and this will not change until the next halving. Bitcoin mining is not an easy or simple task even now, but you live in the delusion that the time for those 2 million BTC can be extended in any way.

Source

As you can see we are currently in reward era 4 which is the time after 3 halving, and each new era will occur after approximately 4 years (210 000 mined blocks). At the end of era 7 ending in 2032 we will have exactly 20835937.50 BTC (99.21875011%) no matter what anyone has done, thought or planned to happen in any other way.

sunsilk

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Quote from: blatchcorn on December 15, 2021, 01:32:24 PM

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

Lesser supply, higher price.

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.

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.

IMO the demand and supply gap will increase Bitcoin supply only if Bitcoin finds its way to mainstream payment system. So far we see Bitcoin as an asset of investment only, where mostly people buy it for the purpose of gaining profit only. Till date there isnt much utility of Bitcoin and the main reason for this is government opposition, price volatility and scalability.

Does it have to be in the mainstream if the mainstream is already talking about it? I think it's just a matter of time when majority of the people that are still not aware of it will eventually get to use it, not just as a payment but as an asset class too.

Time after time, the use of bitcoin is majorly going to the investment side but it doesn't ignore the fact that it's still good and being used as a payment. It's just probably you're not using it as a payment.

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