I think it's trying to communicate...
and the BEST REPLY AWARD GOES TO.......
Topic: bitcoin 21m limit (Read 2903 times)
and the BEST REPLY AWARD GOES TO.......
Bitcoin mining is limited to 21 million Bitcoins total, but as a functional currency and payment method it's actually closer to infinite.
By the time we do reach 21 million BTC, it'll be 2140, and there's a chance 1 Satoshi = 1 USD.
By the time we do reach 21 million BTC, it'll be 2140, and there's a chance 1 Satoshi = 1 USD.
But much before 2140 the mining reward will be negligible, unless BTC price reaches 1B each or something. So the negligible reward situation will arise way before 2140
As far as I know, in 5 years the mining will be negligible rewards will be negigible as hell, so the price needs to be high as hell in 5 years..
the 21M alone mean that the price should be high, even right now, but the RL don't work in this way
Indeed. If you own 21 btc and bitcoin goes mainstream, you should be a guaranteed millonaire... IF bitcoin goes mainstream. But real life acts different than maths.
Oh we can only hope.
Bitcoin mining is limited to 21 million Bitcoins total, but as a functional currency and payment method it's actually closer to infinite.
By the time we do reach 21 million BTC, it'll be 2140, and there's a chance 1 Satoshi = 1 USD.
By the time we do reach 21 million BTC, it'll be 2140, and there's a chance 1 Satoshi = 1 USD.
But much before 2140 the mining reward will be negligible, unless BTC price reaches 1B each or something. So the negligible reward situation will arise way before 2140
As far as I know, in 5 years the mining will be negligible rewards will be negigible as hell, so the price needs to be high as hell in 5 years..
the 21M alone mean that the price should be high, even right now, but the RL don't work in this way
Indeed. If you own 21 btc and bitcoin goes mainstream, you should be a guaranteed millonaire... IF bitcoin goes mainstream. But real life acts different than maths.
As far as I know, in 5 years the mining will be negligible rewards will be negigible as hell, so the price needs to be high as hell in 5 years..
Not really. Another way to look at it is that the reward halves every ~4 years, so if the USD/BTC exchange rate doubles every 4 years then in USD terms miners will have the same revenue they do now. A 100% increase in 4 years is only 18% compounded annually. This isn't to say Bitcoin will rise 18% annually (it could go to zero) but if Bitcoin continues to grow, 18% a year is a pretty low bar.
25 BTC @ $250 = 12.5 BTC @ $500 = 6.25 BTC @ $1,000 = 3.125 BTC @ $2,000
For those thinking ahead yes this does mean the level of security as a ratio of the value of the money supply will decline but the network is probably "overprotected" right now so we have a couple halvings before that becomes an issue.
Bitcoin mining is limited to 21 million Bitcoins total, but as a functional currency and payment method it's actually closer to infinite.
By the time we do reach 21 million BTC, it'll be 2140, and there's a chance 1 Satoshi = 1 USD.
By the time we do reach 21 million BTC, it'll be 2140, and there's a chance 1 Satoshi = 1 USD.
But much before 2140 the mining reward will be negligible, unless BTC price reaches 1B each or something. So the negligible reward situation will arise way before 2140
As far as I know, in 5 years the mining will be negligible rewards will be negigible as hell, so the price needs to be high as hell in 5 years..
the 21M alone mean that the price should be high, even right now, but the RL don't work in this way
As far as I know, in 5 years the mining will be negligible rewards will be negigible as hell, so the price needs to be high as hell in 5 years..
In 5 years the mining reward will be 6.25 BTC per block (900 BTC per day).
If you think 6.25 BTC is "negligible", feel free to send 6 BTC to me. I'll even mail you a thank you card.
I also really want to, let alone 6.25 BTC,1 BTC course I've been grateful
As far as I know, in 5 years the mining will be negligible rewards will be negigible as hell, so the price needs to be high as hell in 5 years..
In 5 years the mining reward will be 6.25 BTC per block (900 BTC per day).
If you think 6.25 BTC is "negligible", feel free to send 6 BTC to me. I'll even mail you a thank you card.
Bitcoin mining is limited to 21 million Bitcoins total, but as a functional currency and payment method it's actually closer to infinite.
By the time we do reach 21 million BTC, it'll be 2140, and there's a chance 1 Satoshi = 1 USD.
By the time we do reach 21 million BTC, it'll be 2140, and there's a chance 1 Satoshi = 1 USD.
But much before 2140 the mining reward will be negligible, unless BTC price reaches 1B each or something. So the negligible reward situation will arise way before 2140
As far as I know, in 5 years the mining will be negligible rewards will be negigible as hell, so the price needs to be high as hell in 5 years..
every day there is a new funny post here in bitcointalk. a while back it was the "Bitcoin is dead" wave now this. what is going to be next?
I think it's trying to communicate...
If this was reddit (thank god it's not) I'd tip you for this. Just PM him for his address or changetip username, boom, you can tip!
I think it's trying to communicate...
If this was reddit (thank god it's not) I'd tip you for this. I think it's trying to communicate...
Best first reply ever.
only big farm will keep mining at that point
doesnt have to be, if bitcoin gets expected popularity over the next 10 years, there should be insane amount of fee-s in blocks,
that would probably be more worth than block reward itself.
excuse me if i understood something wrong, but i think its like this.
cheers
Tik Tok
only big farm will keep mining at that point
I'm surely try to communicate; deflation means that my bitcoin will increase their value in time: so I will keep them: I will NOT spend them because tomorrow they will be more precious: I will spend dollars or EURO (now the BCE is printing...)
then you are helping the BTC ecosystem too.
and you also want, that BTC value will rise over time? so you should use it and spread the word bro
bitcoin 21m limit will stop mining, people do not volunteer for fees; math people should find the right way to supply bitcoins forever using smart algorithms; Wolfram "new kind of science" people are welcome to step in!!!!!
so if bitcoin mining has reached the end point, it is likely the price will increase to $1,000
I'm surely try to communicate; deflation means that my bitcoin will increase their value in time: so I will keep them: I will NOT spend them because tomorrow they will be more precious: I will spend dollars or EURO (now the BCE is printing...)
I think it's trying to communicate...
hrhr, good one. 
Bitcoin mining is limited to 21 million Bitcoins total, but as a functional currency and payment method it's actually closer to infinite.
By the time we do reach 21 million BTC, it'll be 2140, and there's a chance 1 Satoshi = 1 USD.
By the time we do reach 21 million BTC, it'll be 2140, and there's a chance 1 Satoshi = 1 USD.
But much before 2140 the mining reward will be negligible, unless BTC price reaches 1B each or something. So the negligible reward situation will arise way before 2140
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