Bitcoin price when all it is mined | Bitcointalksearch.org

CuriousGeorge

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KUWA.ai

Quote from: trinhdinhthang20007 on November 05, 2017, 08:51:58 AM

I also wonder why, still exploiting BTC while it is increasingly difficult, so what is the main motive? Many people have gone to other coin mining for higher profits.

Because it's still profitable, it doesn't matter how much the difficulties could increase just if the miners always got profit out of it, it's not going to be a problem. If the miners gone to another coin, the difficulties will adjust automatically after few blocks and by that could solve the problem.
However, many miners are too lazy to switch over a new coin because mining through bitcoin already give them so much profit than moving to other coins and need to set up again their entire mining rigs.

YuginKadoya

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Quote from: trinhdinhthang20007 on November 05, 2017, 08:51:58 AM

I also wonder why, still exploiting BTC while it is increasingly difficult, so what is the main motive? Many people have gone to other coin mining for higher profits.

I really think it is not gone to other coins but added a new coin to mine, because it is very expensive to mine for bitcoin right now many will tend mind for other coins and adding it as one of their investment and these such coins are mined by desktop GPU's only or sometimes On their mobile devices it is a promising offer indeed, to only mine on the phone and I think it will be straight ahead to trading.

nidacoinlove

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Quote from: nizamcc on November 05, 2017, 06:47:12 AM

Quote from: AltCoinProject on November 04, 2017, 03:00:59 PM

$0 or $1,000,000

0 is an unreasonable number when you know why it is succeeding currently. I don't think it will ever get to that price.
If we don't get mislead by some delusions that are getting seen daily by some giant names and continue to support Bitcoins (which is why Bitcoin is here and will be at the price I am going to say), we will and should not be under a million after the last coin mined because miners will still get their mining fees paid (not the rewards as it will be ended after the last mined coin). Until the situation occurs, I believe we will already have Bitcoin be taken as a globally tradeable asset all around the world and when everyone joins their hands, the speculation level will also be very high compared to now.

Well negative elements or evils will always be there who will try to mislead people using bitcoin. It depends on the users of bitcoin to how they react to such rumours or bad phrases against the bitcoin. I think people will always support bitcoin as they are supporting it now. In fact bitcoin will be treated as a fixed asset after ten years and it's price will be very much high in the future and will constantly increase with the passage of time. The demand for bitcoin will definitely increase from time to time, with a limited supply and little mining bitcoin will be placed in a higher position.

trinhdinhthang20007

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I also wonder why, still exploiting BTC while it is increasingly difficult, so what is the main motive? Many people have gone to other coin mining for higher profits.

fabiorem

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You guys forgot about quantum computers.

They already exist, but are very big. When they are miniaturized, what will be?

BitcoinIsAlgebraic

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In theory it should be worth a lot more than it is today just because it will be an exclusive currency and not much of it will be up for grabs. As long as bitcoin still is in circulation then it should be worth lots.

Lancusters

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The more you will develop computer technology the more difficult code bitcoin. The difficulty can always be adjusted. Miners will always have the opportunity to confirm the transaction. I think it is wrong because bitcoin becomes dependent on clan of miners. It seems to me that bitcoin would be more independent if to confirm transaction to all users. The price of bitcoin will never be equal to zero if he will be in demand.

nizamcc

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Quote from: AltCoinProject on November 04, 2017, 03:00:59 PM

$0 or $1,000,000

0 is an unreasonable number when you know why it is succeeding currently. I don't think it will ever get to that price.
If we don't get mislead by some delusions that are getting seen daily by some giant names and continue to support Bitcoins (which is why Bitcoin is here and will be at the price I am going to say), we will and should not be under a million after the last coin mined because miners will still get their mining fees paid (not the rewards as it will be ended after the last mined coin). Until the situation occurs, I believe we will already have Bitcoin be taken as a globally tradeable asset all around the world and when everyone joins their hands, the speculation level will also be very high compared to now.

ridertiger

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Is there no way to recover the lost private keys with methods like brute attacks and such using mega super computers of the future?

Quote from: HabBear on November 04, 2017, 04:36:46 PM

Quote from: ridertiger on November 04, 2017, 02:26:32 PM

What incentive will they have when all BTC is mined in, I think 2049?

It's not 2049, the last bitcoin (or satoshi) will be mined in 2130 or so. 100 years from now. Over 75% of the total bitcoin supply has been mined already so there will be many years where each reward is a fraction of a bitcoin. It may take 30 years to mine the last 1 million coins.

After all the coins are mined the price will be heavily dependent on demand. And the fact that bitcoins can (relatively speaking) be lost easily. There's no way to track how many bitcoins have just been lost, so supply is already being for ever altered/reduced when these events happen.

HabBear

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Quote from: ridertiger on November 04, 2017, 02:26:32 PM

What incentive will they have when all BTC is mined in, I think 2049?

It's not 2049, the last bitcoin (or satoshi) will be mined in 2130 or so. 100 years from now. Over 75% of the total bitcoin supply has been mined already so there will be many years where each reward is a fraction of a bitcoin. It may take 30 years to mine the last 1 million coins.

After all the coins are mined the price will be heavily dependent on demand. And the fact that bitcoins can (relatively speaking) be lost easily. There's no way to track how many bitcoins have just been lost, so supply is already being for ever altered/reduced when these events happen.

1Referee

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Quote from: Lompe on November 04, 2017, 04:00:34 PM

Miners by that time will mine the transactions fees, which will become even more rewarding than the current block reward, so it will change nothing.

It depends. If enough people end up transacting through off-chain implementations, these fees might not end up being as rewarding as you believe they will be in the future. Sure, there will always be a decent level of demand for block space, because that's what you need when it comes to off-chain implementations such as Lightning Network, but I am a bit more reserved in this case. In your scenario, it will mean that the majority of the people will still continue to transact on-chain like they do now when sending Bitcoins back and forth. Either way, there is no way to find out for us what's exactly going to happen, because we're not here anymore by that time. Undecided

Krikke

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Standing on the shoulders of giants

Quote from: ridertiger on November 04, 2017, 02:26:32 PM

Now there are many miners with huge hash powers because they are being rewarded with bitcoin when they confirm transcations and such.
What incentive will they have when all BTC is mined in, I think 2049?
Do you suppose the transaction fees will increase, making it like the dreaded SWIFT?
Maybe the computers will improve way faster than the difficulty increase. In any case, somebody argued that btc would be useless and the price would drop. Any ideas on that?

I think you made a typo... All BTC is expected to be mined by 2140. As I no longer be alive then I don't really care about the BTC then. Unless they upload my brain to the cloud of-course then I'll see BTC flying around.
Predicting the price is impossible, so much still needs to happen in society in order to fully accept BTC. Let's hope that happens in 5-10 years, eventually BTC price will become stable, but telling at which level it stabilize requires a time machine.

Lompe

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Miners by that time will mine the transactions fees, which will become even more rewarding than the current block reward, so it will change nothing. But Bitcoin by that time will be basically used by anyone for international remitment and all the financial institutions, so its value will be superior to 1 000 000$ and 1 mBTC will the common denomination.

lady Royal

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Quote from: AltCoinProject on November 04, 2017, 03:00:59 PM

$0 or $1,000,000

0 to unpredictable, When all the coins are mined the demand will be really high and maybe because of high demand the price increase but when the price will go really high which is really hard to to buy then I guess people will stop buying Bitcoin and stop using it, There are people holding a lot of coins so, when there is not enough coins in circulation anything can be happen.

AltCoinProject

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$0 or $1,000,000

ridertiger

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Now there are many miners with huge hash powers because they are being rewarded with bitcoin when they confirm transcations and such.
What incentive will they have when all BTC is mined in, I think 2049?
Do you suppose the transaction fees will increase, making it like the dreaded SWIFT?
Maybe the computers will improve way faster than the difficulty increase. In any case, somebody argued that btc would be useless and the price would drop. Any ideas on that?

Topic: Bitcoin price when all it is mined (Read 467 times)