93 Percent of all Bitcoin Has Been Mined - page 3.

Dave1

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Quote from: Fivestar4everMVP on November 03, 2023, 03:19:38 AM

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.

I don't think that we can see it in our lifetime.

But I guess in the next couple of halvings, we might see that almost all bitcoin has been mine at 99%. And the rest of that 1% will be mined till that 2140.

So there is still some time for us before we can reach that 99% of bitcoin being mine and if that happens, then obviously it will be scarce and it will really push the price beyond our imagination.

Get Happy Code

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"93 Percent of all Bitcoin Has Been Mined"
At some point, probably the next bull market (when BTC is over $100,000), mainstream, wealthy people will go nuts over the idea of owning a "single whole Bitcoin" before it is too late. At that point the fun and near insanity will rapidly intensify.

sunsilk

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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. Or should I say that many are expecting but it's just so unbelievable because most of the speculations or predictions are just too high to imagine.

Quote from: Iamcrypticguy on November 03, 2023, 05:37:42 AM

This is good for BTC or bad?

It's good in general if you're a long term guy for Bitcoin or very optimistic on it. But if you're still thinking that you're late then it seems that the bad thought will come to you just as the others thinking that you guys are already late.

More than a century to mine all the Bitcoin, I can no longer wait for that and I know that I might be dead when it comes. But I know that good times will come for the most of us who knows how to be patient.

Fivestar4everMVP

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Quote from: Iamcrypticguy on November 03, 2023, 05:37:42 AM

Quote from: Fivestar4everMVP on November 03, 2023, 03:19:38 AM

*Snip

This is good for BTC or bad?

What do you think? Of course it's good for bitcoin generally.
Think of this, when all the bitcoins are mined, miners will no longer earn Bitcoin through mining but will only earn from transaction fees, bitcoin will become more attractive to invest in, most especially to big investors, as no new bitcoins are being minted any more, and the circulating bitcoins will be capped at around 18 or 19 million bitcoins if we minus the bitcoins that are forever lost.

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.

lombok

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Quote from: Helena Yu on November 03, 2023, 05:26:54 AM

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.

There's still a long way to go for Bitcoin. Yes, compared to the previous few years, Bitcoin market capitalization has increased quite rapidly, if you add legalization, ETFs and so on in the coming year, there will definitely also be an increase. Adoption and interest in Bitcoin will continue to grow, especially if Bitcoin continues to have the title of asset storage and often appears and is discussed in economic broadcasts. I am sure that many investors and even new users will enter Bitcoin.

Quote from: Helena Yu on November 03, 2023, 05:26:54 AM

Quote from: Fivestar4everMVP on November 03, 2023, 03:19:38 AM

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.

It's up to everyone choice whether they want to pass their coins to their next generation or not, after all you must focus with your life "right now" instead of thinking about heritage.

Yes, regarding inheritance, it can be arranged within the family. Each succeeding generation definitely has desires and interests in each field. And we cannot force their will to match our wishes, if they remember and want to access it. If you forget it or get it tucked away, it will become a useless inheritance. I think we can know what children need most, and what is best for our heirs. I think Knowledge is the best inheritance for children, and Bitcoin might be a bonus.

Iamcrypticguy

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Quote from: Fivestar4everMVP on November 03, 2023, 03:19:38 AM

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.

This is good for BTC or bad?

Helena Yu

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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.

Quote from: Fivestar4everMVP on November 03, 2023, 03:19:38 AM

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.

It's up to everyone choice whether they want to pass their coins to their next generation or not, after all you must focus with your life "right now" instead of thinking about heritage.

Lucius

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Quote from: Fivestar4everMVP on November 03, 2023, 03:19:38 AM

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.

This is information that might fascinate a beginner, not someone who has read dozens of similar topics over the years on this forum.

Quote from: Fivestar4everMVP on November 03, 2023, 03:19:38 AM

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 Roll Eyes

Quote from: Fivestar4everMVP on November 03, 2023, 03:19:38 AM

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.

Billions you say? You want to say that in 100+ years billions of people will be mining Bitcoin just to go down in history as the ones who grabbed the last satoshi? Do you know that of the 7% you mention, even 6% will be mined in less than 10 years, and that 1% will actually remain for the next 100 years as a very insignificant part, considering that it is only 210 000 BTC.

DapanasFruit

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Quote from: Fivestar4everMVP on November 03, 2023, 03:19:38 AM

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.

Since there will only be 21 million Bitcoin, 7% of that is around 1,470,000 which can be mined for the next 117 years...which is a lot of time and we will not anymore be alive by then. So I agree with you that accumulating BTC can be our legacy for the future generations. And I have no doubt that BTC will continue to be more valuable as ever most especially if soon ETF will be approved by SEC.

AprilioMP

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Quote from: Fivestar4everMVP on November 03, 2023, 03:19:38 AM

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.

Doubtful on Bitcoin, no. There is no doubt about Bitcoin as an investment asset even though I am still a baby in my experience about Bitcoin. But thanks to the openness of the information space that exists due to internet access, I don't doubt Bitcoin as an investment asset. Trust in Bitcoin is increasing due to the recorded history of what, why, how and for what Bitcoin was created.

I'm not sure how long I'll be able to breathe, but I plan to make Bitcoin a legacy that will be passed on to the next generation when I have time to start a family and have children.

So for now I have not thought about the purpose of collecting for my next generation. Now I'm thinking about how I can use Bitcoin even though I can't use Bitcoin as money to make payments.
Because I can't use it as money because there is a ban, one of the real benefits I can feel now is using it as a long-term investment asset by becoming a holder while enjoying the remaining 7% that has not been mined.
I Love Bitcoin and thanks Satoshi.

Fivestar4everMVP

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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.

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