[CHART] Bitcoin Inflation vs. Time - page 30.

painlord2k

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Quote from: BTCBinary on July 29, 2015, 10:02:55 PM

The price of bitcoin inflation is directly connected to time since the algorithm was designed with time being one of its main essences.
So I believe that as more time passes more Bitcoins are mined and less will be available to mine while the difficulty will be insane. So, the price of bitcoin over time should go up!

You misunderstood everything.

The difficulty is regulated so there will be a block every 10 minutes.
Every block have a reward of 50 btc until block 210.000, then it become a reward of 25 BTCs until block 420.000.
Every 210.000 blocks the reward is halved by the protocol.
Asymptotically it go to 21 M BTCs.

eerygarden

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Quote from: BTCBinary on July 29, 2015, 10:02:55 PM

The price of bitcoin inflation is directly connected to time since the algorithm was designed with time being one of its main essences.
So I believe that as more time passes more Bitcoins are mined and less will be available to mine while the difficulty will be insane. So, the price of bitcoin over time should go up!

Unless the devs kill each other with forks, the most appropriate murder weapon.

BTCBinary

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The price of bitcoin inflation is directly connected to time since the algorithm was designed with time being one of its main essences.
So I believe that as more time passes more Bitcoins are mined and less will be available to mine while the difficulty will be insane. So, the price of bitcoin over time should go up!

BIT-Sharon

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Could you explain the law of the pictures? I don't know how they make sense.

marcus_of_augustus

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Eadem mutata resurgo

Quote from: eerygarden on July 13, 2015, 03:53:33 PM

Quote from: rev0lt on July 12, 2015, 06:15:00 AM

So every day less new bitcoins mined? This is nice.

I think it is the same amount every day until every four years, at which point half the previous amount is mined every day for the next four years and then it repeats.... until the year 2141.

The process you describe is correct, if you plot it as in OP, it shows an asymptotic convergence on 21 million (20999999.99999999 around the year 2141) when the last satoshi will be mined.

It is due to the underlying geometric series, ratio 1/2,

10.5 million * (1 + 1/2 + 1/4 + 1/8 + 1/16 + ...) = 10.5M * 2 = 21M,

where the 10.5 million comes from the first 210,000 blocks @ 50 btc per block and the ratio two is the halving Wink

Bernoulli spiral.

http://www.matematicasvisuales.com/english/html/analysis/seriegeom/seriegeom2.html

If by the 2140s we need more satoshis then the significant digits to the right of the decimal place can be extended in the protocol without affecting the 21M btc limit and mining for btc will continue.

eerygarden

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Quote from: rev0lt on July 12, 2015, 06:15:00 AM

So every day less new bitcoins mined? This is nice.

I think it is the same amount every day until every four years, at which point half the previous amount is mined every day for the next four years and then it repeats.... until the year 2141.

rev0lt

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So every day less new bitcoins mined? This is nice.

HigsonPP

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So , basically the chart is showing instantaneous rate of inflation with respect to the given time period. The money supply inflation rate is being shown rather than the price inflation which is a keynesian approach.

pigzone

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The chart is the truth

JarvisTechnology

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Quote from: stallion on June 14, 2015, 11:38:32 AM

Quote from: Fjordbit on December 13, 2012, 11:33:46 AM

The first curve should have met at 25%, but it looks more like 29%.

It should have been 25.8% to be precise. Look closely (:

Ups and down are came across during the development process or to get succeed in the world.
In some past years,bitcoin went too low because of financial flow and transactions how it works in the market.

HarHarHar9965

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Quote from: dblink on June 23, 2015, 01:52:21 AM

Quote from: Raimonn on April 09, 2015, 07:58:34 AM

Bitcoins price moves up and down, but isn't the only coin that have movements. Euro / Dolar / Yen There isn't a secure coin that have a stable change. Gold also have the same problems.

Obviously, every currency will have ups and downs, but while seeing the bitcoin digital currency it is far more better than the fiat currencies. If we see the couple of years back history, bitcoin sometimes went too low and immediately raised to the top which no one has ever imagined, it is a matter of financial flow and transactions how it works in the market.

If bitcoin needs to be adopted as a currency, its price needs to be stabilized. It is unreal to expect people to accept bitcoin as a cureency and adopt it if the price is different by inappropriate margins every other week.

dblink

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Quote from: Raimonn on April 09, 2015, 07:58:34 AM

Bitcoins price moves up and down, but isn't the only coin that have movements. Euro / Dolar / Yen There isn't a secure coin that have a stable change. Gold also have the same problems.

Obviously, every currency will have ups and downs, but while seeing the bitcoin digital currency it is far more better than the fiat currencies. If we see the couple of years back history, bitcoin sometimes went too low and immediately raised to the top which no one has ever imagined, it is a matter of financial flow and transactions how it works in the market.

mayflor2

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Quote from: agentbluescreen on April 26, 2013, 02:39:33 PM

Quote from: DannyHamilton on April 26, 2013, 02:27:14 PM

Trying to predict what Bitcoin will be capable of in the future based off its behavior during its infancy now is a little silly.

Well few babies spread out their pension plans before they learn how to walk either!

Grin

That was a smart response. On a serious note, the guy is right. Predicting what will happen 20 years later is impossible as the assumptions would be according to today, and a lot of things tend to happen in the coming 20 years. Mathematics and graphs are good but based on assumptions and assumptions fluctuate.

BIT-Sharon

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Pictures just show the past tendency of Bitcoin value, but can not exactly predict the future.

stallion

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Quote from: Fjordbit on December 13, 2012, 11:33:46 AM

The first curve should have met at 25%, but it looks more like 29%.

It should have been 25.8% to be precise. Look closely (:

cbase

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Seems more details can be added to the graph.

Dalord1

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This is really encouraging and good, i really love this information.

Anony

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Invest & Earn: https://cloudthink.io

Whoa!! That is some big thing you have done here Huh

I was assuming that bitcoin market will last for at the max 5 years from now. But this chart shows that the stocks will last till for over 10-15 years. That is pretty encouraging Grin

daviswilla

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NIce graph .

ibnuhanis

newbie

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nice

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