90% is already there, only 10% is left - page 4.

Lucius

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

Sooner or later people will realize how hard they can own 1 Bitcoin. In about 12 more years, 3 more halvings, I think we will see how people knew about Bitcoin in 2020, 2021 but still hesitated to invest in, feel deeply regret about their mistake by ignoring Bitcoin.

For many, Bitcoin was too expensive even when it cost ten times less, and today 1 BTC is for most people something they can only dream of - while on the other hand, someone can buy thousands of BTC without any problems. Of course, there is always the possibility of buying smaller amounts, but it's hard for people to accept that they can't just have 1 whole BTC - and that even with an investment strategy of say $1000 a month, it takes 4 years to achieve it - assuming the price stays as it is now.

Regret makes no sense, because crying over spilled milk is just a waste of time. While people are waiting for some right moment, time and numbers are ruthlessly beating them day by day.

Kakmakr

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There are more than enough "Satoshi" around for everyone on this planet, so the Supply is not the problem. The problem come in when people are hoarding too much bitcoins and that there are not enough bitcoins in circulation to make it viable to use it as a "currency".

We will be long gone by the time when all the bitcoins are mined on this planet... so let's not worry about that. We should focus more on the equal distribution of bitcoins and not how many there are. Wink

mk4

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No matter what the current supply or supply distribution is, heck, bitcoin could be 100% mined right now; what matters most is the demand. The supply halving is just an icing on the cake that boosts bitcoin's scarcity.

OcTradism

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Quote from: Lucius on December 15, 2021, 06:39:04 AM

It is an indisputable fact that only 10% of the max supply remains for mining, but also that this 10% represents a little more than 2 million Bitcoins, and that is still a very large amount that needs to enter circulation. With the price now measured in the tens of thousands of $, and with everything in circulation, it is not difficult to conclude that there is still enough BTC on the market to meet all the current needs of any investor.

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.

Because of lost Bitcoin, we have less Bitcoin in real total supply for now and in the end. It's gift for all of us from people who thrown away their Bitcoin.

Quote

Although it is predicted that the last BTC will be mined around the year 2140, around 2030 99% of all coins will be mined, and those 1% (210 000) will remain for the next 100+ years. In less than 10 years, some things will be much clearer - and I hope some of us will be there to witness it.

Sooner or later people will realize how hard they can own 1 Bitcoin. In about 12 more years, 3 more halvings, I think we will see how people knew about Bitcoin in 2020, 2021 but still hesitated to invest in, feel deeply regret about their mistake by ignoring Bitcoin.

awik p

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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

Poker Player

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Quote from: Little Mouse on December 15, 2021, 07:34:06 AM

Is it a coincidence that satoshi's last post on forum was on December 13, 2011? Lol. Just saying.
I'm not a good speculator, I have sold my bitcoin very early. I think we may see some good pump this year or in January but after that a bearish trend is going to take over and until next halving, no more ATH.

Let me tell you that you are not a good investor either. You have sold the most profitable long-term asset since its inception, which has unique characteristics to safely store and transfer wealth. But hey, everyone does with his money what he wants.

Regarding the mining, I agree with previous comments, that the fact that 90% has been mined is not going to have an effect in the short term. What is clear is that Bitcoin is a scarce commodity, that less and less new bitcoins will be produced and that the best thing to do is to continue to accumulate.

Little Mouse

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Is it a coincidence that satoshi's last post on forum was on December 13, 2011? Lol. Just saying.
I'm not a good speculator, I have sold my bitcoin very early. I think we may see some good pump this year or in January but after that a bearish trend is going to take over and until next halving, no more ATH.

mynonce

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

From 90% already in circulation, about 3.7 million Bitcoins are reported as "lost"...
What are your prospects for the next few years with regard to Bitcoin?

Expect new challenges...

Quote from: mynonce on December 14, 2021, 09:53:11 PM

Andreas Antonopaolous stated in his video:

“The cryptographic keys and algorithms used in Bitcoin do not last forever [anyway]. At some point, the elliptic curve digital signature algorithm (ECDSA) and SHA-256 will be obsolete. Maybe in ten or twenty years; certainly less than fifty years. They will no longer be strong enough to protect coins that haven’t been switched over to… a stronger cryptographic algorithm.”

Moreover, Antonopoulos added that the Bitcoin code needs to be recycled from time-to-time into better cryptographic algorithms; people with enough computing power should/could break keys and retrieve the lost coins. He also added that recovered BTC could act as ‘bounty’ for dedicating their resources.

“Essentially, it creates a bounty for testing the system, and rewards people who [exercise their skills].”

https://www.youtube.com/watch?v=IYtAevJIy5E
Minute [4:20 - 7:50]

Lucius

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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?

It is an indisputable fact that only 10% of the max supply remains for mining, but also that this 10% represents a little more than 2 million Bitcoins, and that is still a very large amount that needs to enter circulation. With the price now measured in the tens of thousands of $, and with everything in circulation, it is not difficult to conclude that there is still enough BTC on the market to meet all the current needs of any investor.

Although it is predicted that the last BTC will be mined around the year 2140, around 2030 99% of all coins will be mined, and those 1% (210 000) will remain for the next 100+ years. In less than 10 years, some things will be much clearer - and I hope some of us will be there to witness it.

franky1

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nothing has changed today in regards of supply

6.25 coins *144 block(a day) =900coins mined.
900 coins were mined every day last week, this week, next week
these 900coins a day averages are going to continue on until ~2024

the crucial 'supply' emotional trader drama happens at the halving events. (nest one in ~2024)

plus its worth knowing although thre are near 19mill coins out there and some are lost.. exchange market orders do not care.

exchanges (thus the market price) is determined just about the supply of coins within the deposited coins IN THE EXCHANGE. and more importantly the coins held on the market order books as active orders, not as lose account balance

OcTradism

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Good points but I feel it is shilled again when Bitcoin has red days.

I mean such information is well-know like halving every 4 years, block reward halves every 4 years, total supply, etc. but people have more attention on such transparent information when either Bitcoin in a superb bullish time or bearish time.

In former one, they rely on information to satisfy their greed and in a latter one, they rely on such information in order to have something to stay. People like that are not good investors and not real holders.

https://en.bitcoin.it/wiki/Controlled_supply
https://bitcointalksearch.org/topic/equivalent-network-time-5331087

Charles-Tim

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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?

The more the maturation the lesser will be the volatility. But Bitcoin will still continue to appropriate.

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?

There will be series of bull and bear market, but with the wealth in the world and fiat devaluation, bitcoin price will increase more and more and reach all-time-high as usual.

joker_josue

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**In BTC since 2013**

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?

Topic: 90% is already there, only 10% is left - page 4. (Read 537 times)