Topic: 93 Percent of all Bitcoin Has Been Mined - page 2. (Read 424 times)
As much as I believe that bitcoin's going to be valuable in the future, I am worried that the profit that I will get out of it will not be worth enough to help me against the inflation and that the bitcoin profit's probably going to only be a breakeven in my country's inflation, hopefully that's not going to be the real case for me and that when I finally get to sell my bitcoins that I will get some plot twist in my financial life if not my whole life. Regarding the percentage of bitcoins that's not yet mined, that's actually an unexpected number for me because I know that it's 2140 before the last bitcoin's going to be mined but I dun know that the percentage is that low, I guess I'm still that lucky that I was able to buy and accumulate bitcoin at this point with the possibility that in the future, this price might not be seen or reached again because it's so below the price floor of the future price floor of bitcoin.
This makes Bitcoin scarcer and people don't realize that until they see the price goes high to a tremendous that we're never expecting.
No it doesn't!
New coins are mined every day, and there are more coins available each day, the complete opposite of scarcer!
Many don't seem to sell the Bitcoins that they're holding.
And lesser supply in the economy while it's known that many of us are holding even I'm just part of the shrimp economy makes the demand higher.
Yeah, you read that right, 93% of all existing Bitcoins have been mined already, we have just 7% remaining, and it is estimated that the last Bitcoin will be mined by the year 2140, that is approximately 117 years from this year 2023.
I agree with Lucius. Newbies can search and find some very basic but important information about Bitcoin supply and how it will be created with time. If they read those resources, they will no longer surprise by how many bitcoin in total supply will be left for mining.Controlled supply
Bitcoin equivalent network time
How is the 21 million Bitcoin cap defined and enforced?
This chart is not too hard to understand.
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100 years makes 1 century right? yeah, so this means that the remaining 7% of bitcoin yet to be mined will take more than one century to mine all of them.
I can not (mostly) live 100 more years so I don't care about what will happen next 100 years. I pay my attention on what will happen next 20, 30 or 40 years. 
Fascinating observation, for those who did not know until now, 100 years is equal to one century 
Joking and not so much joking, I don't doubt there are some who would take a few moments to think how long a century is!
And after all you need to add some of this platitude to make it look like a topic, right?
Can't wait for 94%, 95%, 95,1%, 95,2% and so on.
It should be understood that there are people who understand the English language very poorly, but honestly OP and others like him who have been on the forum for years never cease to amaze me.
Well, you are right in that about 19 million of Bitcoin has been mined, and only 2 million of Bitcoin which makes 7% of the remaining bitcoin is left. We all know that the whole count of Bitcoin is 21millions and 19 million are mined you said that the remaining 7% of Bitcoin takes approximately 117 years which is 1 century and 17 years.
Lucius, any feedback on this gem?
As I read that a single Bitcoin is mined in about one hour so how does 93% take such a short time to mine?
Wow, 150 merits, one year on this forum, and he knows one Bitcoin is mined per hour!
I wouldn't be surprised if such a conclusion comes to a bounty hunter, but some members should start learning some basics if they don't want others to laugh at them.
I'm actually thinking what will happen when the real bull run comes and with the shortage of the reserves from exchanges is a real thing and a problem for them wherein most holders don't want to spend their Bitcoins in hope of a better gains. Since we've got most of the supplies already and the remaining ones will take time, a century before they're all mined and I don't care about that anymore because I may not see the light by that time. Going back to the effect that this fact of having 93% of entire supply of Bitcoin has been mined, it could result for another delay or halting of withdrawals by the exchanges when we're in the bull run. AFAIK, I remember that happen for some exchange but they've hid that it was actually what they've done and just made it look like that there's an internal issue that has happened.
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I remeber back in 2017 when Bitcoin atms were sold out of bitcoins, you couldn’t buy any only sell yours. Basically they just couldn’t allocate any in that crazy FOMO time.
Same thoughts here. Bitcoin was created to work like this, for a long time, you will realize how Bitcoin is because of how the supply it limits to generate, like being mined over time.I remeber back in 2017 when Bitcoin atms were sold out of bitcoins, you couldn’t buy any only sell yours. Basically they just couldn’t allocate any in that crazy FOMO time.
This is also one of many reasons why I am bullish on Bitcoin unlike other assets.
Bitcoin awareness and adoption will affect the price of bitcoin positively but government regulations will make the currency more centralised. Government involvement might increase public trust and confidence which will increase the price of bitcoin but many people will lose privacy.
The terms of Bitcoin become more centralized isn't really a problem in terms of "price" because they only allow Bitcoin trade in centralized exchange. But even they regulate Bitcoin, they still can't control the protocol and can't own every mined Bitcoins since not everyone agree to use CEX.Since not everyone will use CEX, it means those people will not lose their privacy too since they can trade through P2P or DEX.
As I read that a single Bitcoin is mined in about one hour so how does 93% take such a short time to mine?
Wow, 150 merits, one year on this forum, and he knows one Bitcoin is mined per hour!
Yes there is very little supply out there. I read that 85% of all bitcoins haven’t moved In the last 3 months. ExchAnge reserves are near lows and that is why when a strong bitcoin rally starts why we have explosive moves. Because there just isn’t any bitcoins to sell once the weak hands sell.
I remeber back in 2017 when Bitcoin atms were sold out of bitcoins, you couldn’t buy any only sell yours. Basically they just couldn’t allocate any in that crazy FOMO time.
I remeber back in 2017 when Bitcoin atms were sold out of bitcoins, you couldn’t buy any only sell yours. Basically they just couldn’t allocate any in that crazy FOMO time.
It is truly amazing to know that 93% of all Bitcoins have already been mined, leaving us to deal with the fact that there arent many Bitcoins in circulation. Without a doubt, the 7% that left puts us on the verge of a major shift in the way the economy works. Your prediction for 2140 isnt just proof of the slow flow of supply; its also a sign that the gavel will soon decide how rare and how much demand there is for this digital gold. The race to mine the last few Bitcoins, on the other hand, isnt just about leaving money behind. It has to do with claiming power in an economy whose core ideals are always changing.
A legacy is a goal, but it should also show that you have insight and good strategic sense. Its not a matter of how old or how soon you think about Bitcoin as an asset. Its about how big of a change it will make in our financial system. If you want to know if you need Bitcoin, you should ask yourself if you can afford to ignore the huge changes it offers. Not only is it smart to start collecting Bitcoin now, its also necessary. Making plans for the future.
A legacy is a goal, but it should also show that you have insight and good strategic sense. Its not a matter of how old or how soon you think about Bitcoin as an asset. Its about how big of a change it will make in our financial system. If you want to know if you need Bitcoin, you should ask yourself if you can afford to ignore the huge changes it offers. Not only is it smart to start collecting Bitcoin now, its also necessary. Making plans for the future.
For sure there will be a craze for that last bitcoin/satoshi. People already paid crazy money for ordinals and they weren't even that good, at least for bitcoin, what more could it be if you're literally given the chance to hold a piece of cryptocurrency history?
Of course at some point this hype will die down but as with all relics and memorabilias there's a good chance that this might even get serialized physically, recognized by whoever tracks stuff like these and all that shit.
But yeah, the last few years for the last few bitcoins will definitely be an eventful moment for the cryptocurrency world. I may not live long enough to witness that, for god's sake it will literally take 2140 before all bitcoins are mined (at least ideally), but at the very least, if things go well we're holding on to the premise of a bright future for bitcoin.
Of course at some point this hype will die down but as with all relics and memorabilias there's a good chance that this might even get serialized physically, recognized by whoever tracks stuff like these and all that shit.
But yeah, the last few years for the last few bitcoins will definitely be an eventful moment for the cryptocurrency world. I may not live long enough to witness that, for god's sake it will literally take 2140 before all bitcoins are mined (at least ideally), but at the very least, if things go well we're holding on to the premise of a bright future for bitcoin.
Yeah, you read that right, 93% of all existing Bitcoins have been mined already, we have just 7% remaining, and it is estimated that the last Bitcoin will be mined by the year 2140, that is approximately 117 years from this year 2023.
100 years makes 1 century right? yeah, so this means that the remaining 7% of bitcoin yet to be mined will take more than one century to mine all of them.
Now, with bitcoin becoming more popular and expensive as time progresses, Billions are gonna be competing to mine the last remaining bitcoin, if not for anything, to at least have it as a legacy that they were among those that mined the last bitcoins, I also want this as a legacy for myself but unfortunately, I probably won't be alive in the next 70 to 80 years from now, and so it is also for majority of us here right now.
Are you here and still unsure whether bitcoin is the right asset to invest in, well, just start accumulating bitcoin today before it's too late, if you feel you are too old and don't have any need for bitcoin, you sure need bitcoin for the generation coming through you, accumulate bitcoin for them, it's a legacy they will live to forever remember you for.
In this situation you can plan with confidence. You can invest Bitcoin and make it as an inheritance. However, before investing it is necessary to do good research and look at your own financial situation and recommendations. You can create a plan to dictate the rights and usage of the hard copy. Since Bitcoin is not yet fully regulated, it can be considered as a natural material for investment. If this situation holds business importance, investing with Bitcoin or any other cryptocurrency may require proper knowledge and caution. Our lives are exceptional and each person's preferences and goals may be different. By paying attention to your life now, you can enrich new experiences and learn new things. You can feel satisfied and happy if you follow your own preferences and goals. 100 years makes 1 century right? yeah, so this means that the remaining 7% of bitcoin yet to be mined will take more than one century to mine all of them.
Now, with bitcoin becoming more popular and expensive as time progresses, Billions are gonna be competing to mine the last remaining bitcoin, if not for anything, to at least have it as a legacy that they were among those that mined the last bitcoins, I also want this as a legacy for myself but unfortunately, I probably won't be alive in the next 70 to 80 years from now, and so it is also for majority of us here right now.
Are you here and still unsure whether bitcoin is the right asset to invest in, well, just start accumulating bitcoin today before it's too late, if you feel you are too old and don't have any need for bitcoin, you sure need bitcoin for the generation coming through you, accumulate bitcoin for them, it's a legacy they will live to forever remember you for.
No it doesn't!
New coins are mined every day, and there are more coins available each day, the complete opposite of scarcer!
New coins are mined every day, and there are more coins available each day, the complete opposite of scarcer!
Well, that is relative, because to consider the number of bitcoins available we would have to know who is willing to sell the ones they have, as well as exactly how many have been lost. I don't think there is either one or the other: there is less and less left before the total limit is reached, but we could consider that there are more available because we assume that most of those that are mined are available for sale and purchase.
Not relative at all!
Every single day we have 900 extra coins getting released into the wild, this is simply increasing the available supply, standard definition!
Furthermore, and this is the interesting thing, if you go above the scarce assumption, then what do you know, fiat is also getting scarcer, no joke! Because there is a limited amount that is being printed, there are hundreds and thousands of bills that get lots, get destroyed end up in safe cases, and so on! If all the government in the US would come and say here is the deal, we're going to print a limit of 1000 quadrillion dollars and after that, there won't be anymore being printed, would that make the $ scarce because it has an upper limit by the amount of plastic needed for bills not existing on this planet? Of course not!
Well, you are right in that about 19 million of Bitcoin has been mined, and only 2 million of Bitcoin which makes 7% of the remaining bitcoin is left. We all know that the whole count of Bitcoin is 21millions and 19 million are mined you said that the remaining 7% of Bitcoin takes approximately 117 years which is 1 century and 17 years.
Lucius, any feedback on this gem?
As I read that a single Bitcoin is mined in about one hour so how does 93% take such a short time to mine?
Wow, 150 merits, one year on this forum, and he knows one Bitcoin is mined per hour!
Yeah, you read that right, 93% of all existing Bitcoins have been mined already, we have just 7% remaining, and it is estimated that the last Bitcoin will be mined by the year 2140, that is approximately 117 years from this year 2023.
100 years makes 1 century right? yeah, so this means that the remaining 7% of bitcoin yet to be mined will take more than one century to mine all of them.
Now, with bitcoin becoming more popular and expensive as time progresses, Billions are gonna be competing to mine the last remaining bitcoin, if not for anything, to at least have it as a legacy that they were among those that mined the last bitcoins, I also want this as a legacy for myself but unfortunately, I probably won't be alive in the next 70 to 80 years from now, and so it is also for majority of us here right now.
Are you here and still unsure whether bitcoin is the right asset to invest in, well, just start accumulating bitcoin today before it's too late, if you feel you are too old and don't have any need for bitcoin, you sure need bitcoin for the generation coming through you, accumulate bitcoin for them, it's a legacy they will live to forever remember you for.
100 years makes 1 century right? yeah, so this means that the remaining 7% of bitcoin yet to be mined will take more than one century to mine all of them.
Now, with bitcoin becoming more popular and expensive as time progresses, Billions are gonna be competing to mine the last remaining bitcoin, if not for anything, to at least have it as a legacy that they were among those that mined the last bitcoins, I also want this as a legacy for myself but unfortunately, I probably won't be alive in the next 70 to 80 years from now, and so it is also for majority of us here right now.
Are you here and still unsure whether bitcoin is the right asset to invest in, well, just start accumulating bitcoin today before it's too late, if you feel you are too old and don't have any need for bitcoin, you sure need bitcoin for the generation coming through you, accumulate bitcoin for them, it's a legacy they will live to forever remember you for.
And so we have discussed this n number of times already. Yes, bitcoin is legacy and accumulate as much as possible while you can.
But the important thing is, take the profits when you are in need, have a backup plan for inheritance and enjoy freedom because thats what bitcoin is for.
Don't just keep accumulating without any backup plan so that your bitcoins become inactive after you're dead.
100 years is not a short time, certainly within this time period the development of the bitcoin ecosystem will be bigger and more massive than it is now. Even though no one knows for sure what the future will be like for Bitcoin, I am sure that it will continue to develop and there will be more and more adopters.
Even though I won't be alive in the next 100 years, at least I will leave a legacy to my children and grandchildren that there is someone in their family who invested in bitcoin and I hope that they can continue this.
Even though I won't be alive in the next 100 years, at least I will leave a legacy to my children and grandchildren that there is someone in their family who invested in bitcoin and I hope that they can continue this.
Yeah, you read that right, 93% of all existing Bitcoins have been mined already, we have just 7% remaining, and it is estimated that the last Bitcoin will be mined by the year 2140, that is approximately 117 years from this year 2023.
Well, you are right in that about 19 million of Bitcoin has been mined, and only 2 million of Bitcoin which makes 7% of the remaining bitcoin is left. We all know that the whole count of Bitcoin is 21millions and 19 million are mined you said that the remaining 7% of Bitcoin takes approximately 117 years which is 1 century and 17 years. But I am confused a little bit here. Bitcoin was invented in 2009 and tested and started working fully in 2010. Now it's 2023 and you told me that 93% of Bitcoin is mined in just 13 or 14 years, if the larger percentage takes that time how does the 7% remaining Bitcoin require 117 years?
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100 years makes 1 century right? yeah, so this means that the remaining 7% of bitcoin yet to be mined will take more than one century to mine all of them.
Fascinating observation, for those who did not know until now, 100 years is equal to one century
I was also fascinated by it.
No it doesn't!
New coins are mined every day, and there are more coins available each day, the complete opposite of scarcer!
New coins are mined every day, and there are more coins available each day, the complete opposite of scarcer!
Well, that is relative, because to consider the number of bitcoins available we would have to know who is willing to sell the ones they have, as well as exactly how many have been lost. I don't think there is either one or the other: there is less and less left before the total limit is reached, but we could consider that there are more available because we assume that most of those that are mined are available for sale and purchase.
Now, with bitcoin becoming more popular and expensive as time progresses, Billions are gonna be competing to mine the last remaining bitcoin, if not for anything, to at least have it as a legacy that they were among those that mined the last bitcoins,
Yeah right, everyone is going to throw money away on electricity just to not be mentioned anywhere!
As for the billions competing, how many are competing right now, for sure not even millions, as in orde to actively compete you have to throw a few grand in the mix at least and deal with the noise and heat and power consumption, for what, a place on internet history that is tossed away 5 minutes later?
Look what happened to the early miners, where is their hall of fame? As if 99% of this forum could name somebody else other than Satoshi!
Fascinating observation, for those who did not know until now, 100 years is equal to one century
Joking and not so much joking, I don't doubt there are some who would take a few moments to think how long a century is!
And after all you need to add some of this platitude to make it look like a topic, right?
Can't wait for 94%, 95%, 95,1%, 95,2% and so on
This makes Bitcoin scarcer and people don't realize that until they see the price goes high to a tremendous that we're never expecting.
No it doesn't!
New coins are mined every day, and there are more coins available each day, the complete opposite of scarcer!
Are you here and still unsure whether bitcoin is the right asset to invest in, well, just start accumulating bitcoin today before it's too late, if you feel you are too old and don't have any need for bitcoin, you sure need bitcoin for the generation coming through you, accumulate bitcoin for them, it's a legacy they will live to forever remember you for.
Bitcoin's adoption rate vs Bitcoin's available supply in the coming days is gonna be a Hot topic, insufficient supply will cause massive jumps in the market valuation compared to any fiat currency when it comes to accumulation. The perspective of saving Bitcoin for the next generation is neither old & new it is all up to the investor who enters the market to explore after learning and getting familiar with the market and future financial crisis he can easily pick up this narrative, except for his short-term temperament and gains.
I would love to see the legacy of Bitcoin so far until the end of my life and I'm pretty sure sooner I will be able to consider myself a storyteller to my children than how I entered and explored this legend (Haha it on the Bitcoin evolution to a global payment and & my marriage journey lets hope both are gonna be smooth and on time).
Yeah, you read that right, 93% of all existing Bitcoins have been mined already, we have just 7% remaining, and it is estimated that the last Bitcoin will be mined by the year 2140, that is approximately 117 years from this year 2023.
100 years makes 1 century right? yeah, so this means that the remaining 7% of bitcoin yet to be mined will take more than one century to mine all of them.
Now, with bitcoin becoming more popular and expensive as time progresses, Billions are gonna be competing to mine the last remaining bitcoin, if not for anything, to at least have it as a legacy that they were among those that mined the last bitcoins, I also want this as a legacy for myself but unfortunately, I probably won't be alive in the next 70 to 80 years from now, and so it is also for majority of us here right now.
Are you here and still unsure whether bitcoin is the right asset to invest in, well, just start accumulating bitcoin today before it's too late, if you feel you are too old and don't have any need for bitcoin, you sure need bitcoin for the generation coming through you, accumulate bitcoin for them, it's a legacy they will live to forever remember you for.
100 years makes 1 century right? yeah, so this means that the remaining 7% of bitcoin yet to be mined will take more than one century to mine all of them.
Now, with bitcoin becoming more popular and expensive as time progresses, Billions are gonna be competing to mine the last remaining bitcoin, if not for anything, to at least have it as a legacy that they were among those that mined the last bitcoins, I also want this as a legacy for myself but unfortunately, I probably won't be alive in the next 70 to 80 years from now, and so it is also for majority of us here right now.
Are you here and still unsure whether bitcoin is the right asset to invest in, well, just start accumulating bitcoin today before it's too late, if you feel you are too old and don't have any need for bitcoin, you sure need bitcoin for the generation coming through you, accumulate bitcoin for them, it's a legacy they will live to forever remember you for.
Oh wow, you never learn out.
I didn't imagine it would take that long to mine the remaining coins! I mean, it took so few years to mine 93% and so many to mine the remaining 7, that's crazy.
Since I never educated myself about that process it really surprises me. I thought it would be fully mined in the next 10 years maybe, haha.
With so fe coins to be mined, it mining actually worth it anymore? Of course if the price would go up SIGNIFICANTLY it would but at the current price I doubt it.
And since there will be no more halvings, the price of bitcoin will become relatively more stable, making it more attractive for people to accept it as payment for their goods and services.
This are the benefits and many more I didn't mention.
You are actually correct. If the price of bitcoin becomes relatively stable, it will attract more people and businesses to the sector. At this point, it will be widely used as legal tender just as it was designed for. Businesses would have benefitted from using bitcoin for local and international transactions but I have heard some business owners claim that they a forced to convert their funds to fiat because of the volatility of bitcoin price. Since we cannot predict when it will happen for now bitcoin is better as an investment. This are the benefits and many more I didn't mention.
Despite Bitcoin circulation, mining difficulty etc are keep rising, but it's not entirely make Bitcoin price increase too if the market is small, Bitcoin is still not achieve it's mass adoption due to not regulated. The biggest task is making an Average Joe feel safe to invest in Bitcoin or the government is legally regulated Bitcoin.
Bitcoin awareness and adoption will affect the price of bitcoin positively but government regulations will make the currency more centralised. Government involvement might increase public trust and confidence which will increase the price of bitcoin but many people will lose privacy. Jump to: