Topic: [CHART] Bitcoin Inflation vs. Time - page 22. (Read 1218226 times)
I always said that if I could change one thing about bitcoin it would be to smooth out the coin reward drop every x amount of blocks.
These graphs show the rate BTC coins are delivered to the market, ruled by the BTC software. They tell us that, as time pass by, less and less new coins are introduced in the market. If the demand (or expectations) is rising, then the BTC value rises. The ups and downs that we are facing relate to the last phrase.
So isn't this good? Doesn't this mean that we the value of bitcoin will continue to rise and rise over time?
This chart says nothing about the (market) value of Bitcoin over time. Value is the quotient of demand over supply. All this chart shows is the supply. If there's no demand for Bitcoin, its value will be zero.
So isn't this good? Doesn't this mean that we the value of bitcoin will continue to rise and rise over time? Is bitcoin at all related to the stock market? And what about the times bitcoin price has majorly dropped?
Kind of crazy that we have reached ATH.
But I must say I love it, and the future has just begun. As it seems now only more and more people are getting interested in BTC as people can clearly see the potential and after all that has happen in Media with this Crypto it can clearly be seen that BTC is the strongest one out there, eventhough it might not have the best and most worthfully protocol it is still the one to go with as of today, ps. In my opinion.
Cheers guys,
Best Regards,
Tratten.
But I must say I love it, and the future has just begun. As it seems now only more and more people are getting interested in BTC as people can clearly see the potential and after all that has happen in Media with this Crypto it can clearly be seen that BTC is the strongest one out there, eventhough it might not have the best and most worthfully protocol it is still the one to go with as of today, ps. In my opinion.
Cheers guys,
Best Regards,
Tratten.
I believe that in the long run, nothing should be expected of him. He, in some ways, already a dinosaur crypt, the technology has long gone ahead.
A solution to the inflation under zero / lost coins in the distant future is just to add some rule in the consensus where, if coins are not moved every 20 or 200 years (full nodes consensus is implied, maybe it should be configurable by the node operators) miners can just take a part of them (maybe starting with the smaller balances).
Maybe, if the mean fee is x, everything lower than x/2 can be taken after 20 years it stops moving.
It would be like:
if there are $ 0.02 left there for a century, can we take them?
Nodes: Yes. not a problem.
If there are $ 200 left there for one year can we take them?
Nodes: No!!!
Maybe, if the mean fee is x, everything lower than x/2 can be taken after 20 years it stops moving.
It would be like:
if there are $ 0.02 left there for a century, can we take them?
Nodes: Yes. not a problem.
If there are $ 200 left there for one year can we take them?
Nodes: No!!!
Good idea. But the simpler solution is to keep producing new coins at a moderate rate. I think some altcoins do this already.
Well, I do not think so, that kind of "cleaning or recycling" would not be well seen by most of users, that is too arbitrary, besides it's too early to worry about that and nobody guarantees that it survives so many years, at that time the nodes would have to be renewed several times at least, and the blockchain could be immensely big, whether they choose hardfork, softfork or total replacement.
The Price of the Bitcoin is now $1,185. I love it. And it looks very promising. When I first heard about the Bitcoin in October it was worth $600, now it has doubled in less then a year time.
I hope to see that the price will be $1,500 by the end of march. It is possible tho
.
That chart looks very promising to me guys, it really shows the potential of BTC.
Now +1000 
It seems this month could reach $1.100, because only in 3 days already showed a great performance. I suggest don't sell bitcoin, better hold and waiting for a bigger profit again.Well I guess you regretted then but if you were able to hold on to your bitcoins then perhaps you smiled some time last week. The volatility chart shows we've been acting contrary and some have lost as a result so let's take technical analysis seriously into consideration and make good future predictions.
It is going to be hard for miners to keep mining when the block reward is basically zero, as fees will be the only pay they get.
If the value for the fees in each block is good enough, then miners still maintain their incentive to continue to mine blocks.
Things will get interesting when employers set a salary in Bitcoin, and then have a review period to pay their workers fewer Bitcoins if the inflation rate perpetuates to 0.
Luckily we have many alt coins and many perspectives and communities: with atomic swaps between various useful crypto currencies this will mitigate the inflation decrease and reliance on a single currency.
These can all work in parallel and support a new free world.
A solution to the inflation under zero / lost coins in the distant future is just to add some rule in the consensus where, if coins are not moved every 20 or 200 years (full nodes consensus is implied, maybe it should be configurable by the node operators) miners can just take a part of them (maybe starting with the smaller balances).
Maybe, if the mean fee is x, everything lower than x/2 can be taken after 20 years it stops moving.
It would be like:
if there are $ 0.02 left there for a century, can we take them?
Nodes: Yes. not a problem.
If there are $ 200 left there for one year can we take them?
Nodes: No!!!
Maybe, if the mean fee is x, everything lower than x/2 can be taken after 20 years it stops moving.
It would be like:
if there are $ 0.02 left there for a century, can we take them?
Nodes: Yes. not a problem.
If there are $ 200 left there for one year can we take them?
Nodes: No!!!
Good idea. But the simpler solution is to keep producing new coins at a moderate rate. I think some altcoins do this already.
Well, I do not think so, that kind of "cleaning or recycling" would not be well seen by most of users, that is too arbitrary, besides it's too early to worry about that and nobody guarantees that it survives so many years, at that time the nodes would have to be renewed several times at least, and the blockchain could be immensely big, whether they choose hardfork, softfork or total replacement.
A solution to the inflation under zero / lost coins in the distant future is just to add some rule in the consensus where, if coins are not moved every 20 or 200 years (full nodes consensus is implied, maybe it should be configurable by the node operators) miners can just take a part of them (maybe starting with the smaller balances).
Maybe, if the mean fee is x, everything lower than x/2 can be taken after 20 years it stops moving.
It would be like:
if there are $ 0.02 left there for a century, can we take them?
Nodes: Yes. not a problem.
If there are $ 200 left there for one year can we take them?
Nodes: No!!!
Maybe, if the mean fee is x, everything lower than x/2 can be taken after 20 years it stops moving.
It would be like:
if there are $ 0.02 left there for a century, can we take them?
Nodes: Yes. not a problem.
If there are $ 200 left there for one year can we take them?
Nodes: No!!!
Good idea. But the simpler solution is to keep producing new coins at a moderate rate. I think some altcoins do this already.
A solution to the inflation under zero / lost coins in the distant future is just to add some rule in the consensus where, if coins are not moved every 20 or 200 years (full nodes consensus is implied, maybe it should be configurable by the node operators) miners can just take a part of them (maybe starting with the smaller balances).
Maybe, if the mean fee is x, everything lower than x/2 can be taken after 20 years it stops moving.
It would be like:
if there are $ 0.02 left there for a century, can we take them?
Nodes: Yes. not a problem.
If there are $ 200 left there for one year can we take them?
Nodes: No!!!
Maybe, if the mean fee is x, everything lower than x/2 can be taken after 20 years it stops moving.
It would be like:
if there are $ 0.02 left there for a century, can we take them?
Nodes: Yes. not a problem.
If there are $ 200 left there for one year can we take them?
Nodes: No!!!
You also forgot to mention that at some point, when the 21M coins have been mined, the inflation rate will become 0%, or even a minus, as some people lose the access to their coins, and new coins are not being produced, that makes us at a decrease in the amount of access able bitcoins.
It is going to be hard for miners to keep mining when the block reward is basically zero, as fees will be the only pay they get.
It is going to be hard for miners to keep mining when the block reward is basically zero, as fees will be the only pay they get.
I don't think 20 years ahead, because that is rarely sensible these days. Not sure whether bitcoin will still be the leading non-governmental currency in 20 years.
But before that, it could be interesting to see the miner rewards in dollar or gold terms. Let us not forget that, while the reward in bitcoin sinks, the value of bitcoin rises. Miners have perhaps roughly constant rewards in terms of purchasing power, or even growing rewards.
A clarifying note: These charts show the monetary (supply) inflation of Bitcoin. They bear no relation to price inflation, which is an entirely distinct phenomenon. When Austrian economists say "inflation," they're typically referring to monetary inflation, whereas Keynesian economists are typically referring to price inflation.
Also, please note that the top axis ("Year") on these charts is approximate, based on the scheduled block generation rate of one block per 10 minutes. The actual block generation rate has averaged a bit faster than this, due to the perpetually increasing hash rate, so we're already a little bit further progressed than the labels along the top axis would suggest. This doesn't mean there will be any more than 21M bitcoins; it only means that we'll reach the end of supply generation a little bit sooner than we would have if the hash rate had always held constant.
Bitcoin Inflation 4x3.pdf (8"×6") | Bitcoin Inflation.pdf (8½"×11")
Bitcoin Inflation logarithmic.pdf (8"×6")
Permission given to use and reproduce freely.
Also, please note that the top axis ("Year") on these charts is approximate, based on the scheduled block generation rate of one block per 10 minutes. The actual block generation rate has averaged a bit faster than this, due to the perpetually increasing hash rate, so we're already a little bit further progressed than the labels along the top axis would suggest. This doesn't mean there will be any more than 21M bitcoins; it only means that we'll reach the end of supply generation a little bit sooner than we would have if the hash rate had always held constant.
Bitcoin Inflation 4x3.pdf (8"×6") | Bitcoin Inflation.pdf (8½"×11")
Bitcoin Inflation logarithmic.pdf (8"×6")
Permission given to use and reproduce freely.
You also forgot to mention that at some point, when the 21M coins have been mined, the inflation rate will become 0%, or even a minus, as some people lose the access to their coins, and new coins are not being produced, that makes us at a decrease in the amount of access able bitcoins.
It is going to be hard for miners to keep mining when the block reward is basically zero, as fees will be the only pay they get.
Isn't that a start of rise after Bear Trap in standard speculation buble ?
I keep asking myself whether you can call a price spike a bubble if the price later goes even higher. In that case, was it a bubble or was it perhaps early, correct prediction by the speculators?
Isn't that a start of rise after Bear Trap in standard speculation buble ?
Now +1000
It seems this month could reach $1.100, because only in 3 days already showed a great performance. I suggest don't sell bitcoin, better hold and waiting for a bigger profit again.Well one of the sides of your argument is likely wrong..the other side being sell, sell, sell. ......but I believe in faeries/unicorns and rainbows in regard to BTC so will HOLD.
(sh*t jinxed it I did)
Now I'm not going to trust the fae. But in general, this price decline was predictable and logical. Now the growth is not as rapid. But we have overcome the psychological barrier
Now +1000
It seems this month could reach $1.100, because only in 3 days already showed a great performance. I suggest don't sell bitcoin, better hold and waiting for a bigger profit again.Well one of the sides of your argument is likely wrong..the other side being sell, sell, sell. ......but I believe in faeries/unicorns and rainbows in regard to BTC so will HOLD.
(sh*t jinxed it I did)
Now +1000
It seems this month could reach $1.100, because only in 3 days already showed a great performance. I suggest don't sell bitcoin, better hold and waiting for a bigger profit again. Jump to: