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gambitcoin53

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Quote from: Heisenberg_Hunter on January 15, 2018, 07:41:09 AM

When Satoshi Nakamoto created the first bitcoin in January 2009, there were nearly 21 million coins left to be mined. As 80% of the total number of bitcoins have already been mined by January 13, there are only one-fifth of the capped supply that will be mined in the coming years.

Over 16.8 million bitcoins have now been mined by the miners worldwide and there will be another 4.2 million digital coins that is still left.

Number of Bitcoins Mined

January 15,2016 : 15,089,500 (71.8%)

January 15,2017 : 16,104,750 (77%)

this simply tells us the law of supply and demand, if this is true, somehow this will affect the price of bitcoin to jump sky high. miners really helped small players in some instance, if this percentage will to continue to drop, i am seeing a good potential to earn profit in the coming days or months. the sudden boost of miners last december 2017 somehow affect the drop of bitcoin price today, because of sufficient supply of bitcoin, good thing now is hard to mine bitcoin. time to buy bitcoin now guys. and earn tomorrow.

ClownSpider

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This is very good. Bitcoin will only become more rare and go UP in value when miners are mining for transaction fees only at that point.

Oasisman

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Rollbit

Quote from: Heisenberg_Hunter on January 15, 2018, 07:41:09 AM

When Satoshi Nakamoto created the first bitcoin in January 2009, there were nearly 21 million coins left to be mined. As 80% of the total number of bitcoins have already been mined by January 13, there are only one-fifth of the capped supply that will be mined in the coming years.

Over 16.8 million bitcoins have now been mined by the miners worldwide and there will be another 4.2 million digital coins that is still left.

Number of Bitcoins Mined

January 15,2016 : 15,089,500 (71.8%)

January 15,2017 : 16,104,750 (77%)

As the remaining Bitcoins to be mined becomes smaller in number, the harder for it to mine. While Bitcoin is being introduce and gain more popularity throughout the society, it will have more demand and the price will keep on increasing as years goes by. I dont see any problem when in terms of the exchange price, the only issue with Bitcoin today is the slow transactions and high fees, And this is all because of the pressure for the miners to mine in a difficult level.

hieuho381

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Quote from: saycryptohello on January 15, 2018, 04:36:57 PM

It is expected that the last bitcoin will be mined in 2140, is this the correct date? By the way, 50% of the bitcoins are owned by approximately 1,000 people

This is a number that I have not known before, I will confirm the problem you are presenting. Bitcoin mining is becoming more difficult as the number of bitcoins is getting smaller and the difficulty is increasing, which is putting pressure on the miners. At present bitcoin transactions are slow, it shows that the miners are exploiting extremely hard.

steamon

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When people know Bitcoin is getting really rare that's when we gonna see unrealistic highs. The next block halving will bring a price as 1 mil to the table and no I am not surprised by that. Have seen it hit 100$ 1000$ 10000$ so 100k is next.

squatter

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STOP SNITCHIN'

Quote from: Razick on January 15, 2018, 05:42:47 PM

Yeah and funny enough the 20% of Bitcoins left to be mined will take 20 times as long to mine. Cheesy

It's actually a very clever way to secure the system. The design accounts for low value at inception and high value many years into the network's life. I wouldn't be surprised even to see nation-states competing to mine out the last ~10% of the supply in the coming years.

It's pretty incredible that we could have been mining in the early days just with our laptop CPUs, and with standard GPUs not long after that. Kudos to those who had the foresight to mine early on. I heard about Bitcoin in 2010 but ignored it until 2013, so I missed out on the entire CPU and GPU eras.

Razick

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Yeah and funny enough the 20% of Bitcoins left to be mined will take 20 times as long to mine. Cheesy

ihaveaquestion

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Quote from: freakingcat on January 15, 2018, 07:42:13 AM

The less bitcoins there are, the harder the process of mining them is. Quite ironic actually.

Of course, but the price will always go up because of this, and we are all going to know that once that the mining gets closed in a few years from now, after 2120, the total supply will be limited forever.
Let's see how it goes, anyway, 20% left is a huge amount of bitcoins, it is not a low amount just like you are saying.

dinoloverpete

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Quote from: freakingcat on January 15, 2018, 07:42:13 AM

The less bitcoins there are, the harder the process of mining them is. Quite ironic actually.

Where is the irony? The is the same for pretty much anything, as they become more scarce it is harder and harder to get a hold of them from a 'natural' source. You can say the same for gold, diamonds, oil etc. Bitcoin is purposefully designed like that to create a level of scarcity and reduce inflationary pressure from having an unlimited supply.

kodtycoon

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difficulties have occurred at this time for the miners proved high demand by the miners and it caused the higher bitcoin prices because many are holding back the creation of this satoshi, the remaining 20% is definitely long to dig in my prediction says it ends in 2020 and this also triggers at a price that will fluctuate in the current year and 2019 later.

saycryptohello

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It is expected that the last bitcoin will be mined in 2140, is this the correct date? By the way, 50% of the bitcoins are owned by approximately 1,000 people

noictib

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One of the world's leading Bitcoin-powered casinos

Quote from: Heisenberg_Hunter on January 15, 2018, 07:41:09 AM

When Satoshi Nakamoto created the first bitcoin in January 2009, there were nearly 21 million coins left to be mined. As 80% of the total number of bitcoins have already been mined by January 13, there are only one-fifth of the capped supply that will be mined in the coming years.

Over 16.8 million bitcoins have now been mined by the miners worldwide and there will be another 4.2 million digital coins that is still left.

Number of Bitcoins Mined

January 15,2016 : 15,089,500 (71.8%)

January 15,2017 : 16,104,750 (77%)

Here it is not a shocking factor that we have only got progress of 6.8% mining of the whole coin in one year , because here this was already fixed concept that was clearly saying that with the mine if every single btc , the mine if next btc is tough work than what was required for the second last one .
So here I am thinking that it will not be easy for us to achieve 100% atleast for 10-20 years to mine whole the bitcoin that exist in the bitcoin algorithm .
Well here we should see as a positive factor that is the increase in demand but giving in actual lack of supply in market and in that case increase in price of bitcoin .

joebrook

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CryptoTalk.Org - Get Paid for every Post!

Quote from: pogitayo on January 15, 2018, 08:16:55 AM

Quote from: Heisenberg_Hunter on January 15, 2018, 07:41:09 AM

When Satoshi Nakamoto created the first bitcoin in January 2009, there were nearly 21 million coins left to be mined. As 80% of the total number of bitcoins have already been mined by January 13, there are only one-fifth of the capped supply that will be mined in the coming years.

Over 16.8 million bitcoins have now been mined by the miners worldwide and there will be another 4.2 million digital coins that is still left.

Number of Bitcoins Mined

January 15,2016 : 15,089,500 (71.8%)

January 15,2017 : 16,104,750 (77%)

How can this be true sir? I thought these are digital currencies that can be generated by a digital blueprint. Does it mean that 20 percent of the total bitcoins are still left to be mined? Just believe that bitcoin will increase again.

When Bitcoin was initially made, there was 21,000,000 bitcoins available to mine so the figure is gradually going down as more and more miners join the fray and the difficulty rises as a result. According to calculations, the last bitcoin will be mined around 2100's.

pogitayo

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Quote from: Heisenberg_Hunter on January 15, 2018, 07:41:09 AM

When Satoshi Nakamoto created the first bitcoin in January 2009, there were nearly 21 million coins left to be mined. As 80% of the total number of bitcoins have already been mined by January 13, there are only one-fifth of the capped supply that will be mined in the coming years.

Over 16.8 million bitcoins have now been mined by the miners worldwide and there will be another 4.2 million digital coins that is still left.

Number of Bitcoins Mined

January 15,2016 : 15,089,500 (71.8%)

January 15,2017 : 16,104,750 (77%)

How can this be true sir? I thought these are digital currencies that can be generated by a digital blueprint. Does it mean that 20 percent of the total bitcoins are still left to be mined? Just believe that bitcoin will increase again.

Rubble898zaitO

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Bitcoin will begin to be scarce as it is widely spread across old and new owners. As it reaches the max coin cap, it's value will probably skyrocket as there is now a finite number of coins to circulate. Not to mention some coins that will never be used ever again due to lost password or private keys. Owners dying without passing on their bitcoins.

Sevarchik

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It is generally known that the number of bitcoins can not be more than 21 million coins.
And generally known time for founding 1 block, and rewarding system.
Last bitcoin will be mined aprox at 2140 year

Red-Apple

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Quote from: tiggytomb on January 15, 2018, 08:07:31 AM

Quote from: freakingcat on January 15, 2018, 07:53:08 AM

I'm curious how many millions are for bitcoin cash and gold, still 21?

Think they are the same with 21 million, not sure if one of the forks and maybe not gold and cash but I am sure I saw somewhere that one of them was going to have proof of stake.

there are approximately 30 different forks right now that did airdrops too. only 3 of them were major forks with half decent prices (cash and gold) the rest of them are worth so little and most of them were scams too.

among these there has been many different algorithms including PoS.

llyfee4u

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That is amazing. Surely this will lead to even further increase in bitcoin price because there will be far less in circulation due to most people holding their bitcoin. It will push the price to ridiculous ATH’s over the next few years. This scenario also provides opportunity for coins like Ethereum to take a stronger foothold. Butcoin will reach over $100K USD in the next 5 years is my prediction.

nlcars

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Wow does this mean that bitcoins are getting rare and when something is getting rare than it shall be worth much.
But the difficulty level is getting higher and higher and the fees too, does this means that if we want to sell Bitcoin we have to pay much fees for it?

tiggytomb

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Quote from: freakingcat on January 15, 2018, 07:53:08 AM

I'm curious how many millions are for bitcoin cash and gold, still 21?

Think they are the same with 21 million, not sure if one of the forks and maybe not gold and cash but I am sure I saw somewhere that one of them was going to have proof of stake.

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