Bitcoin total supply, halvings and future supply left for miners - page 2.

tranthidung

legendary

Activity: 2170

Merit: 3858

Farewell o_e_l_e_o

Quote from: Zaguru12 on November 05, 2023, 10:09:01 AM

And since the supply is limited the price of one satoshi could be close a dollar.

I love optimistic story but one satoshi worth $1 is very unrealistic because 1 BTC will has its price at $100M. Do you think it will happen?

With $100M for 1 BTC, how about wealth of people with 100 or 1000 BTC?

They will be richer than many nations, is it realistic?

How is the 21 millions Bitcoin cap is defined and enforced?
Why is Bitcoin's supply limit sets to 21 million?

Quote

At the time of Bitcoin's creation, the entire world's money supply stood at approximately $21 trillion. This figure, known as the M1 money supply, is made up of the total value of all the physical money in the world, including cash, coins, travelers' checks, and more.

If Bitcoin were to grow to become the single world currency—replacing all those that the M1 figure is comprised of—then each BTC would be worth $1 million. Because there are 100 million satoshi in each Bitcoin, this would place the value of each satoshi at $0.01.

Zaguru12

hero member

Activity: 672

Merit: 855

Quote from: Churchillvv on November 05, 2023, 03:26:13 AM

But I am curious to know, when every Bitcoin is mined what will happen to Bitcoin? Does that mean that we will only be revolving around the 20,999,999.9769 . For me it surely sounds odd that the whole world will just have to make use of the limited number of Bitcoin.
Can someone please enlighten me more on how it's gonna work from 2140 and above

Everything about bitcoin will continue just the way it is now except the mining which will stop and this will stop miners from getting the block reward and the only incentive left will be that of transactions fee. For ordinary bitcoiner who don’t mine bitcoin, it will still be just like the payment method it was used to. But after all have been it will seriously be expensive, a bitcoin could be upto a million dollars, if not more.

The bitcoin it’s self is in units so it will basically not be just 21 million bitcoin but will be 21 million x 100 million satoshi which is the total unit of one bitcoin, if you look at it this way then you will see that the number wouldn’t be limited as you think. And since the supply is limited the price of one satoshi could be close a dollar.

hugeblack

legendary

Activity: 2492

Merit: 3597

Buy/Sell crypto at BestChange

I don't see a problem with buying Bitcoin, as most people will do that, but how long can you wait? Some may be able to keep Bitcoin for a year and others may be able to do so for 10 years, but the amount of profit is determined by buying at the right time and selling at the right time, and you must have the luxury of choosing the right time, otherwise you may lose your money. So investing in Bitcoin is not always profitable, but rather is governed by the simplest rules of all investments

Luzin

hero member

Activity: 1400

Merit: 770

Quote from: Churchillvv on November 05, 2023, 03:26:13 AM

But I am curious to know, when every Bitcoin is mined what will happen to Bitcoin? Does that mean that we will only be revolving around the 20,999,999.9769 . For me it surely sounds odd that the whole world will just have to make use of the limited number of Bitcoin.
Can someone please enlighten me more on how it's gonna work from 2140 and above

The scarcer Bitcoin in circulation and the more held it is, maybe Bitcoin will be very valuable. After there is no block reward, it should be the turnover of mined bitcoins. All bitcoins will only circulate, be sent, received, bought, sold, and miners will only earn Bitcoins from transactions through payment fees. But I'm a little worried about the cost which could possibly be very expensive as well. If there is no consensus of new developers to address Bitcoin's scalability or network congestion issues. But these are only estimates, we cannot predict the future exactly. At this age I probably won't live again until 2100. CMIIW

Jawhead999

legendary

Activity: 1638

Merit: 1156

Average life expectancy is 73 years old which mean holding until 2044 are 20 years, you don't have to be "young enough" to invest Bitcoin and enjoy the reward.

Quote from: Churchillvv on November 05, 2023, 03:26:13 AM

But I am curious to know, when every Bitcoin is mined what will happen to Bitcoin? Does that mean that we will only be revolving around the 20,999,999.9769 . For me it surely sounds odd that the whole world will just have to make use of the limited number of Bitcoin.
Can someone please enlighten me more on how it's gonna work from 2140 and above

Nothing.

Bitcoin will reach it's maximum supply, that's all. There's no such "burn mechanism" or increase Bitcoin total supply, with this condition, people are expect Bitcoin price will be very very high and the fees will also increase too.

Catenaccio

full member

Activity: 364

Merit: 115

Quote from: Churchillvv on November 05, 2023, 03:26:13 AM

But I am curious to know, when every Bitcoin is mined what will happen to Bitcoin? Does that mean that we will only be revolving around the 20,999,999.9769 . For me it surely sounds odd that the whole world will just have to make use of the limited number of Bitcoin.
Can someone please enlighten me more on how it's gonna work from 2140 and above

If there are miners turn on their ASICs to mine Bitcoin blocks, the Bitcoin network will continue to be live.

Miners receive block subsidy for each block they find. If they solo mine a block, they take all the block subsidy but if they join a Bitcoin mining pool, they will receive share of the block subsidy, not all.

Miners also receive bitcoin from Bitcoin users. By confirming Bitcoin transactions, they get transaction fee from Bitcoin users. They can refuse transactions with too low fee and it's like a bargain between Bitcoin miners and Bitcoin users. If Bitcoin users want to get a confirmation from miners, give miners fee they accept.

After 2140, miners will only receive bitcoin from Bitcoin transaction fee, no longer receive it from Bitcoin block subsidy.

Churchillvv

member

Activity: 66

Merit: 5

Eloncoin.org - Mars, here we come!

Let's me be real here, how about those of us that doesn't have yet are we gonna be okay to invest after the 2024 halving. I feel like the way people are talking about the halving in 2024 that if you don't investment now it is over for you. But the charts show it happens every four years which is good if I don't get to invest/buy now I can still buy when I have the capital.
But I am curious to know, when every Bitcoin is mined what will happen to Bitcoin? Does that mean that we will only be revolving around the 20,999,999.9769 . For me it surely sounds odd that the whole world will just have to make use of the limited number of Bitcoin.
Can someone please enlighten me more on how it's gonna work from 2140 and above

Charles-Tim

legendary

Activity: 1512

Merit: 4795

Quote from: Catenaccio on November 05, 2023, 12:14:06 AM

If you are young enough, buy and hold your bitcoin till years like 2036, 2040 or 2044. I really believe Bitcoin will not make you disappointed.

If you buy bitcoin now, be expecting price increase. Next year is another halving. Bull run will follow halving and the price of bitcoin will increase. If to hold bitcoin for a longer time like 20 years, bitcoin is a store of value if not sold for that long time. But do not think it is because there will not be reduce in bitcoin supply again that will be responsible for the price increase alone, although it would be part of it, but as more people are buying bitcoin and also as more bitcoin is bought, the demand is significant enough to make the price increase as the supply into the circulation is not much if compare to the demand, and this makes the price of bitcoin to have been increasing all these time.

Catenaccio

full member

Activity: 364

Merit: 115

I don't know what are your plans if you already invested in Bitcoin. Bitcoin has only 21 million coins in total supply and each four years, block subsidy halves one time.

After the four years cycle from 2032 to 2036, 99.21% Bitcoin in total supply will be mined by miners. Since 2036, after a halving in 2036, only less than 0.8% bitcoins in total supply is available for Bitcoin miners to get it from mining.

If you are young enough, buy and hold your bitcoin till years like 2036, 2040 or 2044. I really believe Bitcoin will not make you disappointed.

Controlled supply

Topic: Bitcoin total supply, halvings and future supply left for miners - page 2. (Read 253 times)