Bitcoin has a fixed numbers so there is a possibility that someday that miners will finally mines its last block. Unlike fiat which can be minted or produced by any central bank, bitcoin has to be halved to prolong its mining and produces more bitcoin on a limited basis.
At this time, many cryptocurrencies are also vying to become the next bitcoin but these coins has yet to prove something if they really qualified to succeed the leading cryptocurrency.
Topic: Bitcoin eventually disappear... - page 4. (Read 4280 times)
There will be a fixed number if Bitcoins, and people, because of human error, will accidentally lose Bitcoins every now and then.
This must mean that Bitcoin will eventually seize to exist? Or at least shrink to minimal amounts, when it shrinks to a certain level, it will no longer be useful.
Is this correct?
This must mean that Bitcoin will eventually seize to exist? Or at least shrink to minimal amounts, when it shrinks to a certain level, it will no longer be useful.
Is this correct?
If mankind can make something better and more convinient than bitcoin then youre right. This is for the fact happening right now where people invent something better than fiat. People will not accept it at first because of denial but eventually end up using it because of the need for improvement.
Bitcoin, of course, can disappear in its current form, if it is replaced by something more advanced. This is quite normal and predictable. The current Bitcoin has its own difficulties in solving many problems, including scalability and transaction costs. Considering that the cryptocurrency so far exists only ten years, and also that it is not perfect yet, it will continue to evolve anyway. Nobody knows what this development will lead to.
Well you posted this in the "Economics" section, so let's make this about economics.
People have an amount of BTC. The higher the value of their BTC, the more likely they are to keep it in safe locations or spread it between different places. So the chance of them losing their BTC decreases exponentially as the price rises.
If they lose BTC, the supply decreases, therefore making the remaining BTC supply (marginally) more valuable and making people less likely to lose it. So it never reaches a point at which there's not enough left.
So basically, no. It's impossible.
People have an amount of BTC. The higher the value of their BTC, the more likely they are to keep it in safe locations or spread it between different places. So the chance of them losing their BTC decreases exponentially as the price rises.
If they lose BTC, the supply decreases, therefore making the remaining BTC supply (marginally) more valuable and making people less likely to lose it. So it never reaches a point at which there's not enough left.
So basically, no. It's impossible.
That's a fair point but the OP says what it is going to happen if the most of the supply will be lost?
Then no one will have any interest in bitcoin due to the limited supply and that there will not be many buy and sell orders. I don't think that it is going to lose value. Also the option of a fork is possible is something like that is inevitable.
There will be a fixed number if Bitcoins, and people, because of human error, will accidentally lose Bitcoins every now and then.
This must mean that Bitcoin will eventually seize to exist? Or at least shrink to minimal amounts, when it shrinks to a certain level, it will no longer be useful.
Is this correct?
This must mean that Bitcoin will eventually seize to exist? Or at least shrink to minimal amounts, when it shrinks to a certain level, it will no longer be useful.
Is this correct?
If mankind can make something better and more convinient than bitcoin then youre right. This is for the fact happening right now where people invent something better than fiat. People will not accept it at first because of denial but eventually end up using it because of the need for improvement.
Oh no, no, at least there is no chanse it will dissapear for 4-5 years. Why? Because 1) people consider it the most trustworthy cryptocurrency. 2) There are a lot of serious businesses on bitcoin. which will lose a lot of money if that happens and a lot. Consider upcoming halvong whivh automatically lits fire in people that bitcoin will rise because as you see one year ago, halving was a major reason we see 20k price.
This would stay and beat all the payment system, it will be the most popular in the online world, some people don't believe it's potential but they will see as the adoption increases. Most people who are accumulating now are big time investors, they sees its future potential so they are betting on bitcoin early. Investing on bitcoin for long term is the best strategy, people who don't believe on it has no idea that price may pump high due to its limited supply.
There will be a fixed number if Bitcoins, and people, because of human error, will accidentally lose Bitcoins every now and then.
This must mean that Bitcoin will eventually seize to exist? Or at least shrink to minimal amounts, when it shrinks to a certain level, it will no longer be useful.
Is this correct?
nobody's development and the future of crypto currency can predict for sure how because all possibilities can happen and no one can know because of the development of crypto currencies depending on the investor This must mean that Bitcoin will eventually seize to exist? Or at least shrink to minimal amounts, when it shrinks to a certain level, it will no longer be useful.
Is this correct?
Right the limited supply is one of the advantage because we are not going to face the inflation so people can trust ans use i future if they find the importance of it.
Yes, bitcoin won't be affected or won't have its inflation because instead it will have its deflation. Thanks to the finite supply and halving that makes the difficulty of mining harder and gives that demand that we're all wanting.We are far from that time and I think we should focus about the current issues now and solve those problems that are currently existing now. If the world continues to adopt and accept bitcoin payments that will decide if bitcoin will stay or not.
Oh no, no, at least there is no chanse it will dissapear for 4-5 years. Why? Because 1) people consider it the most trustworthy cryptocurrency. 2) There are a lot of serious businesses on bitcoin. which will lose a lot of money if that happens and a lot. Consider upcoming halvong whivh automatically lits fire in people that bitcoin will rise because as you see one year ago, halving was a major reason we see 20k price.
Bitcoin will be mined presumably until 2140. A hundred years later, who will live to this time, then he will worry about reducing the total number of bitcoins. Now, in my opinion, it is too early to talk about it. After a hundred years, perhaps Bitcoin is transformed into something completely new. Or perhaps they will find a way to recover lost Bitcoins, including with the help of quantum computers.
To the present population and to meet all things digitally the present technology is more to meet, but when things go on and to the growing population advancement is a must to happen. Within certain time period entire number of bitcoin gets mined which will create a demand, and just on that it doesn't mean bitcoin gets disappeared.
Bitcoin will be mined presumably until 2140. A hundred years later, who will live to this time, then he will worry about reducing the total number of bitcoins. Now, in my opinion, it is too early to talk about it. After a hundred years, perhaps Bitcoin is transformed into something completely new. Or perhaps they will find a way to recover lost Bitcoins, including with the help of quantum computers.
Let time showed what will happened next to this industry, if ever that there's no major adoptions to happened and another sets of new ideas
will be bring inside the digital industry, maybe it will make this currency to disappear but like what you have said it's still far from reality and there's
a lots of good appreciations from big businesses so we should not worry as yet.
There is nothing to worry about it and we might see more solutions for our situation we will overcome those and what ever be case, no one thought of a currency that could survive without the help of government, bitcoin made it possible, it is a billion dollar market and in the next rally we might even touch the trillion dollar market and i do not think a market so huge will go down just like that.will be bring inside the digital industry, maybe it will make this currency to disappear but like what you have said it's still far from reality and there's
a lots of good appreciations from big businesses so we should not worry as yet.
Let time showed what will happened next to this industry, if ever that there's no major adoptions to happened and another sets of new ideas
will be bring inside the digital industry, maybe it will make this currency to disappear but like what you have said it's still far from reality and there's
a lots of good appreciations from big businesses so we should not worry as yet.
There is nothing to worry about it and we might see more solutions for our situation we will overcome those and what ever be case, no one thought of a currency that could survive without the help of government, bitcoin made it possible, it is a billion dollar market and in the next rally we might even touch the trillion dollar market and i do not think a market so huge will go down just like that. will be bring inside the digital industry, maybe it will make this currency to disappear but like what you have said it's still far from reality and there's
a lots of good appreciations from big businesses so we should not worry as yet.
It has acquired place for among the tradeable asset, which is not that easy to achieve without anything physically available to experience. It never gets disappeared or go worthless, even when the entire sum of bitcoin were mined the transaction keeps happening and by that time based on the demand we'll get an increased or decreased.
We still ahead of a century for the last bitcoin to be mined,so we no need to worry about the miners for now.If bitcoin meant to go worthless then we might have something better than bitcoin or the current centralized system supressed it not to adopted by the people,chances of happening both are also low for now.will be bring inside the digital industry, maybe it will make this currency to disappear but like what you have said it's still far from reality and there's
a lots of good appreciations from big businesses so we should not worry as yet.
It has acquired place for among the tradeable asset, which is not that easy to achieve without anything physically available to experience. It never gets disappeared or go worthless, even when the entire sum of bitcoin were mined the transaction keeps happening and by that time based on the demand we'll get an increased or decreased.
right, from the analysis that you explained, I can understand that bitcoin will run the opposite, that is, it will develop and be accepted by most people. especially with a large number of spreads, it will result in price increases, this is because supply is limitedI think this bitcoin will still be there even though the price will decline again and it is predicted too if the bitcoin price slumps it will also rise again because bitcoin already has quite a lot of interest and there are already so many who invest in this bitcoin, therefore it is very it's hard if this bitcoin will disappear someday, bitcoin will still be there even though the price isn't like now
Yeah meyt bitcoins price can always recover no matter how hard it fall because there will always be a demand for it not because bitcoin is cheap and can be used for an asset use but because bitcoin is too useful and can also be used for a currency use but let say people will loose thier interest on bitcoin and the price of bitcoin will decay until it turn to zero and until bitcoin will be remove on exchanges , bitcoin will still remain on the web/online . The remaining bitcoin will still exist .
It has acquired place for among the tradeable asset, which is not that easy to achieve without anything physically available to experience. It never gets disappeared or go worthless, even when the entire sum of bitcoin were mined the transaction keeps happening and by that time based on the demand we'll get an increased or decreased.
We still ahead of a century for the last bitcoin to be mined,so we no need to worry about the miners for now.If bitcoin meant to go worthless then we might have something better than bitcoin or the current centralized system supressed it not to adopted by the people,chances of happening both are also low for now. 
It has acquired place for among the tradeable asset, which is not that easy to achieve without anything physically available to experience. It never gets disappeared or go worthless, even when the entire sum of bitcoin were mined the transaction keeps happening and by that time based on the demand we'll get an increased or decreased.
right, from the analysis that you explained, I can understand that bitcoin will run the opposite, that is, it will develop and be accepted by most people. especially with a large number of spreads, it will result in price increases, this is because supply is limited 
There will be a fixed number if Bitcoins, and people, because of human error, will accidentally lose Bitcoins every now and then.
This must mean that Bitcoin will eventually seize to exist? Or at least shrink to minimal amounts, when it shrinks to a certain level, it will no longer be useful.
Is this correct?
This must mean that Bitcoin will eventually seize to exist? Or at least shrink to minimal amounts, when it shrinks to a certain level, it will no longer be useful.
Is this correct?
Human error? Lol , it isn't an error. This is how this ecosystem is designed.
We will never know what will happen to Bitcoin after everything is mined and due to the fixed supply it has, as we will be possibly all dead. It needs so many years to pass in order to reach this time. And until this happens, demoting BTC into smaller amounts can still work as we care about the value and not for the decimals.
It has acquired place for among the tradeable asset, which is not that easy to achieve without anything physically available to experience. It never gets disappeared or go worthless, even when the entire sum of bitcoin were mined the transaction keeps happening and by that time based on the demand we'll get an increased or decreased.
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