Bitcoin reached Max. Supply | Bitcointalksearch.org

semobo

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Quote from: deevan on February 17, 2018, 08:58:49 AM

Hi, just wonder what will happen when Bitcoin reached its max. supply i.e. 21M, currently, the circulating supply is 16-17M. Will miners not get their profit on mining??

What is your speculation about bitcoin reaching its maximum? value?

Miners will still need to work even if the bitcoin reached its maximum value because miner are the one who confirm the transaction if there is no miner no transaction will happen and the transaction fee we are paying are the reward to miners.
But the last bitcoin will be mined in 2140 so weel don't have to worry about that now.

Tipsters

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Quote from: deevan on February 17, 2018, 08:58:49 AM

Hi, just wonder what will happen when Bitcoin reached its max. supply i.e. 21M, currently, the circulating supply is 16-17M. Will miners not get their profit on mining??

What is your speculation about bitcoin reaching its maximum? value?

Miners will still have their part. Their profit will be coming from the transaction fees and I think they will gain more since the total amount of bitcoin in the world increased. More bitcoin, more transactions and therefore more transaction fees. Although this can be altered by anyone since it it decentralised and who know what will really happen if the maximum supply is reached.

deepcoreotc

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Bitcoin will probably be replaced by another more scalable crypto currency before this happens so does it really matter?

taiwww

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Quote from: deevan on February 17, 2018, 08:58:49 AM

Hi, just wonder what will happen when Bitcoin reached its max. supply i.e. 21M, currently, the circulating supply is 16-17M. Will miners not get their profit on mining??

What is your speculation about bitcoin reaching its maximum? value?

Mining is the only process which can confirm your transaction when it is added in the block over the "block-chain" and thus the whole thing is working just fine becasue of them. So in any case if you think that supply is related to miners income source then that is completely wrong! Miners vital work is to confirm your transaction and complete the peer to peer process by helping the pools. Thus, though the supply dry out it has got nothing to do with it as we will still be sending the bitcoins to each other. Also, there is no relation of the coins which are not in the circulation as they are not moving anywhere. So its about the things (tokens/coins) that are moving in circulation.

Wulanayu

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I think if bitcoin in the mine until the last coin (runs out) then the bitcoin assets will become increasingly very valuable.
Bitcoin will be stable and bitcoin values are increasingly expensive so it is an advantage for bitcoin miners that store their bitcoin and profit also for bitcoin holders.
With this limited number of coins that make bitcoin every year so go for those of you who do not have bitcoin immediately invest.

Pan Troglodytes

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Quote from: deevan on February 17, 2018, 08:58:49 AM

Hi, just wonder what will happen when Bitcoin reached its max. supply i.e. 21M, currently, the circulating supply is 16-17M. Will miners not get their profit on mining??

What is your speculation about bitcoin reaching its maximum? value?

Nothing of importance will happen. It will be a year like many before it. Bitcoin already twice decreased the mining reward and I could see no signifiant impact whatsoever on its price, mining rate etc.

Alexandr210774

newbie

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Quote from: deevan on February 17, 2018, 08:58:49 AM

Hi, just wonder what will happen when Bitcoin reached its max. supply i.e. 21M, currently, the circulating supply is 16-17M. Will miners not get their profit on mining??

What is your speculation about bitcoin reaching its maximum? value?

It is said that this year will be the hottest for bitcoin. The price will reach about 30-40k $. Nobody knows what will happen when 21m is typed. Either bitcoin will be very expensive, or it will be replaced by something else.

Dluretic

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The Experience Layer of the Decentralized Internet

If the amount of bitcoin reached the maximum, so means that there are many people using bitcoin to transfer, then the transfer fee poundage is used to maintain the bitcoin of the operation of the network.

paxaway21

member

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Bitcoin is no longer running out of supply so I think Bitcoin is unlimited as long as you have money and you just buy lots of bitcoins as I think it's not going to happen because it's been a while since I'm supposed to supply the bitcoin and lots of miners maybe they cant mine bitcoins.

colenax

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we do not really know as long as it still does not happen, there are many possibilities that occur after bitcoin reaches its supply. there are various assumptions and predictions from crypto experts, but chances are, bitcoin will have an even greater value.

derdgzmn30

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Quote from: deevan on February 17, 2018, 08:58:49 AM

Hi, just wonder what will happen when Bitcoin reached its max. supply i.e. 21M, currently, the circulating supply is 16-17M. Will miners not get their profit on mining??

What is your speculation about bitcoin reaching its maximum? value?

In the seminar I attended, I ask that question samely and they answered that when the demand increase the supply will increase too. So I think if the Bitcoin reached the maximum supply later on they will increase the supplies of bitcoin in order to fulfill the demand of the bitcoin and the miners will continue to have profit on mining. Quote me if I am wrong, I just want to learn too. Thankyou

eminemcookie

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Quote from: Tyrantt on February 28, 2018, 10:27:01 AM

I was always wondering, we know that the last bitcoin will be mibed in about 100 years from now but did they took the technology development into the calculation?

Surely there will be some more powerful miners and GPU units in the next 50 years, so will that maybe reduce the time for the lat block to be mined?

The difficulty will scale accordingly so that they're mined at the defined rate.

On the technology improvement, when the last block is mined and miners only receive fees, it wouldn't be out of the question that mining costs are much less then and that's how they could mine profitably

Tyrantt

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Need some spare btc for a new PC

I was always wondering, we know that the last bitcoin will be mibed in about 100 years from now but did they took the technology development into the calculation?

Surely there will be some more powerful miners and GPU units in the next 50 years, so will that maybe reduce the time for the lat block to be mined?

amzadabir

newbie

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Bitcoin raised its highest. Bitcoin limited the supply of 21 million. Since its birth in 2009, the world's first cryptocurrence was designed in nature. This change will not change how successful the profit will be, and if Bitcoin is widely accepted, supporters of cryptocoanenges are often expected to have a limited number of possible results in Bitcoin.

Sudhik

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Miners still get profit, and I think you should know what's is mining fisrt!
Miners not get the profit from mining the supply (supply not release yet), but miners get the reward from bitcoin, why? Ok I will explain to you.
Mining, is actually a process of verifying the overall of Bitcoin transaction.
And from that process, miners have also maintained the overall integrity of Bitcoin transaction data and information. The overall of that data, stored in a database called (Blockchain). Miners who have contributed to maintaining the integerity of the transaction's overall data and information are given a Bitcoin as reward, and those criteria has been set as the Bitcoin system protocol.
Because Blockchain is always maintained by its integerity by miners, the validity and security in the Bitcoin system becomes difficult to penetrate. And almost impossible, especially Bitcoin uses peer-to-peer network, and there is decentralized system, and there is no dedicated central server in it.

mk4

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Miners will definitely still get profit. They play a huge role on the blockchain security that they can't just be ignored easily. Miners will get their cut solely from transaction fees. Though we really can't say right now if it will be more or less profitable for them(the miners) or not.

bitperson

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Miners will still receive transaction fees. Assuming anyone is still using bitcoins some 120 years from now.

deevan

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Hi, just wonder what will happen when Bitcoin reached its max. supply i.e. 21M, currently, the circulating supply is 16-17M. Will miners not get their profit on mining??

What is your speculation about bitcoin reaching its maximum? value?

Topic: Bitcoin reached Max. Supply (Read 246 times)