BTC rate when bitcoin will mined - page 2.

kodtycoon

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Quote from: stryker on December 01, 2017, 07:37:59 PM

What do you think will happen with the bitcoin rate when it will be completely mined? I've heard quite opposite opinions on this issue.
And some (like me) believe that nothing will change for a long time after this.

The bitcoin rate before and after being mined will be the same, only the bitcoin supply is reduced. The more miners, then the miners' income also will be subdivided. I never heard about the rate before and after being mined.

nl247

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Quote from: Scor1937 on December 02, 2017, 02:58:36 PM

The concept of bitcoins amd the price change depends on the factor "Demand and supply". According to me, after all the bitcoins are mined, the demand will be the same but the supply will be stopped and the coins in the circulation i.e 21 Million bitcoins will be circulated similar to other national centralised currencies. So perhaps bitcoin will not show much price variation but will move slightly similar to other currencies.

Why will supply ever stop? If supply stops, that totally means everyone will stop spending, so who will you have your bitcoin to exchange with? Bitcoin may not be as volatile as it is now, but supply will always be there, but if it is highly usable, we may see more demand than supply. However, as long as people find ways to earn it, and they can easily spend it on whatever they want, that would keep the cycle going on and on after the whole thing. We cannot know however, what the value would be but it is definitely not going to be stagnant.

Sasuke102001

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What do you mean by totally mined if you are trying to say that all the bitcoins have been mined and no more coins can be mined then that could lead to shortage of Bitcoins which will definitely result in the increase of Bitcoin prices by a very big margin. As the supply of bitcoins would be limited the prices can skyrocket.

Lieldoryn

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Quote from: trobin on December 04, 2017, 01:04:50 PM

Quote from: RobertoRigoberto on December 03, 2017, 09:17:58 PM

The block reward gets lower and lower over time, until it smoothly (jumps by half each time) reaches zero over 100+ years. I think the real question is: what happens when the block reward becomes "too low"?

My opinion is that over time, bitcoin is becoming more and more valuable, so the block reward becoming lower (measured in BTC) over time is not a problem because the value is still the same or growing.

The fees, which we don't consider very valuable for miners today, will only become more and more expensive. At some point in the future, it will only make sense to transfer huge amounts of value using bitcoin, because of the fees, and at that point those fees will be incredibly rewarding to miners and will replace the shrinking block reward.

I think you are right that the value increasing will make sure the block reward is sufficient but I like to think you are wrong in terms of fees and that eventually we will have ways to send bitcoin for very low fees. If fees are so large that it is only used for large transactions then we will lose a lot of the value in bitcoin.

For a long time the price of the transaction must be reduced. The price of the transaction is unacceptable. Now there is an alternative. Bitcoin cash. I don't trust this coin but things can change. I hope that the kernel developers know it. They will be forced to solve this problem to bitcoin has not lost its popularity.

trobin

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Quote from: RobertoRigoberto on December 03, 2017, 09:17:58 PM

The block reward gets lower and lower over time, until it smoothly (jumps by half each time) reaches zero over 100+ years. I think the real question is: what happens when the block reward becomes "too low"?

My opinion is that over time, bitcoin is becoming more and more valuable, so the block reward becoming lower (measured in BTC) over time is not a problem because the value is still the same or growing.

The fees, which we don't consider very valuable for miners today, will only become more and more expensive. At some point in the future, it will only make sense to transfer huge amounts of value using bitcoin, because of the fees, and at that point those fees will be incredibly rewarding to miners and will replace the shrinking block reward.

I think you are right that the value increasing will make sure the block reward is sufficient but I like to think you are wrong in terms of fees and that eventually we will have ways to send bitcoin for very low fees. If fees are so large that it is only used for large transactions then we will lose a lot of the value in bitcoin.

mOgliE

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Hi,

I guess that when bitcoin is completely mined, the value will remain stable for some time. I mean, once you have no easy way to get bitcoin, people will be less tempted to bet at incredible rates... So the bitcoin should get a stabilized value (very high I think).

Then, what will be interesting is to see how people deal with it, if they let bitcoin die or of they will find new ways, new uses for crypto-currencies!

darewaller

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Quote from: Mometaskers on December 02, 2017, 10:27:20 AM

Quote from: stryker on December 01, 2017, 07:37:59 PM

What do you think will happen with the bitcoin rate when it will be completely mined? I've heard quite opposite opinions on this issue.
And some (like me) believe that nothing will change for a long time after this.

Not an economist here but assuming we get to see the day it will be mined out, I think there will be a jump from the price prior to mining out. People tend to focus on once-a-lifetime event so I can see more would come out to buy the last few coins.

From there there'll probably be a short plateau while people absorb the fact that mining is over.

Y’know, you’re very right on this. During the last time when all Bitcoin will be mined, people will buy the last coins and this will lead to a very big surge. But have you ever thought about what will happen after the surge? Now that’s what I’m afraid of. After the surge, people who bought Bitcoin will decide to sell all of them off once they notice a slight fall, and this might possibly lead to a crash.

RobertoRigoberto

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The block reward gets lower and lower over time, until it smoothly (jumps by half each time) reaches zero over 100+ years. I think the real question is: what happens when the block reward becomes "too low"?

My opinion is that over time, bitcoin is becoming more and more valuable, so the block reward becoming lower (measured in BTC) over time is not a problem because the value is still the same or growing.

The fees, which we don't consider very valuable for miners today, will only become more and more expensive. At some point in the future, it will only make sense to transfer huge amounts of value using bitcoin, because of the fees, and at that point those fees will be incredibly rewarding to miners and will replace the shrinking block reward.

Razick

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Some people are saying Bitcoin will be wroth $1,000,000 each, but my prediction is BTC will be worth even more than $1,000,000 and let me tell you why... see, it is always being lost every day. Bitcoin is lost through mistakes transactions, lost private keys and more. It sucks, but that is the reality of Bitcoin. With that said, the value always increases. By the year 2140 when the last Bitcoin will be mined, I predict that the price will be over $2,000,000.

bribed

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I think nobody can tell what will happen then. I could picture that bitcoins price would first rise due to the fact that there will no more coins being mined so people start a run on the existing ones because everybody expects a rise in price, this run then makes the price grow and then the price will stagnate at a certain level and might slowly decline again. Just letting my imagination flow here. Dont really know how this scenario will turn out, but its some time until we face that anyways.

ModaFuka1994

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I think it's really difficult to predict but when the total supply amount of Bitcoin , 21m, still available and not mined out I think the price of Bitcoin will keep increasing and maybe if when 21m Bitcoin mined out and Bitcoin still not legalized worldwide I think it'll be bad and everyone will change to use other cryptocurrency like ETH or LTC with available supply amount but not Bitcoin then Bitcoin price will decrease very quickly to zero. But as I know the total supply amount of Bitcoin will be mined out at 2140 so it's more than 100 years left, let see what will happen Cheesy

Granxis

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Quote from: MakeMoneyBtc on December 03, 2017, 11:12:18 AM

It is impossible to predict what is going to happen 100 years from now. Bitcoin can possibly disappear until the whole supply it is mined or it is possible that another cryptocurrency with more advantages to surpass it. If none of those will happen, the price will be higher for sure with x10 at least.

Most people say that in future the fees will be huge because the mining will become harder. Well, the fees wil obviously increase but think that the price will also increase and this will compensate the fees. The economy will change and fees will adapt to that. Anyway, new technology will be discovered and I think that even if mining will be higher the new technologies will again compensate that and the mining will be the same as now.

Bitcoin 's disappearance scenario scared me very much but it' s likely to happen. Because if a new technology emerges Bitcoin 's situation will be difficult. Also, FedCoin is likely to go on the market, I do not think rumors will happen.

readygoaw

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Quote from: stryker on December 01, 2017, 07:37:59 PM

What do you think will happen with the bitcoin rate when it will be completely mined? I've heard quite opposite opinions on this issue.
And some (like me) believe that nothing will change for a long time after this.

It will not happen very soon. Probably before this time comes a very powerful cryptocurrency, stronger than Bitcoin will appear. However, when it is mined totally, it will be used further and probably will be even taxed (just a thought, not more).

moooonu

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After all bitcoins get mined. There will be a limited stock left with us to trade with. With seeing its current demand its price will touch skies.

MakeMoneyBtc

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It is impossible to predict what is going to happen 100 years from now. Bitcoin can possibly disappear until the whole supply it is mined or it is possible that another cryptocurrency with more advantages to surpass it. If none of those will happen, the price will be higher for sure with x10 at least.

Most people say that in future the fees will be huge because the mining will become harder. Well, the fees wil obviously increase but think that the price will also increase and this will compensate the fees. The economy will change and fees will adapt to that. Anyway, new technology will be discovered and I think that even if mining will be higher the new technologies will again compensate that and the mining will be the same as now.

trobin

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Quote from: stryker on December 01, 2017, 07:37:59 PM

What do you think will happen with the bitcoin rate when it will be completely mined? I've heard quite opposite opinions on this issue.
And some (like me) believe that nothing will change for a long time after this.

When you say rate I presume you mine price, from a simple economic point of view you would guess it would lead to a price increase because supply is then limited and can no longer increase, supply increasing leads to a price fall and so supply being fixed would mean all demand increases lead to a price increase.

hase0278

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Quote from: stryker on December 01, 2017, 07:37:59 PM

What do you think will happen with the bitcoin rate when it will be completely mined? I've heard quite opposite opinions on this issue.
And some (like me) believe that nothing will change for a long time after this.

When that happens then the circulating supply will always be fixed to 21 million coins at most. It is obvious that when it is all mined, bitcoin would surely go up in price but the question is that will it go up more in long term after that event happened? The answer to this question will only be known when that time comes because if it happens that by that time btc price is still speculation driven, then it will surely go down slowly but surely after that point.

stryker

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Quote from: fiulpro on December 02, 2017, 03:01:30 PM

Quite obviously if the bitcoins will be completely mined and Their supply will be limited then the price of bitcoins will increase tremendously because you know..if.. ther won't be any more supply of bitcoins from the outside then people will fight for the limited amount of bitcoins that they posess that will increase the price of bitcoins in millions.

Some say that new blocks will be introduced ready for minning again but I do think that its not really reasonable to introduce new blocks after attaining the full potential of bitcoins it can finally set it sights on becoming a global currency.

Anyways I would like to know what else you have heard about it ?

This is obvious, but nevertheless, at the moment, the growth rate of bitcoin is still fueled mainly by artificial manipulations, and not by an increase in the deficit of the coin. So, its behavior in the future is not so unambiguous...

fiulpro

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Quite obviously if the bitcoins will be completely mined and Their supply will be limited then the price of bitcoins will increase tremendously because you know..if.. ther won't be any more supply of bitcoins from the outside then people will fight for the limited amount of bitcoins that they posess that will increase the price of bitcoins in millions.

Some say that new blocks will be introduced ready for minning again but I do think that its not really reasonable to introduce new blocks after attaining the full potential of bitcoins it can finally set it sights on becoming a global currency.

Anyways I would like to know what else you have heard about it ?

Scor1937

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The concept of bitcoins amd the price change depends on the factor "Demand and supply". According to me, after all the bitcoins are mined, the demand will be the same but the supply will be stopped and the coins in the circulation i.e 21 Million bitcoins will be circulated similar to other national centralised currencies. So perhaps bitcoin will not show much price variation but will move slightly similar to other currencies.

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