How much do you tihnk BTC will be worth after this? - page 2.

CasinoRoyal.one

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Quote from: Iranus on May 29, 2017, 02:03:29 AM

You're not quite right. New Bitcoin is created when a block is mined (like a group of transactions which happens approximately every ten minutes).

Every 210,000 blocks (about four years) the reward for mining a block halves.

So all the Bitcoin will have been mined by about 2140.

But do you not think that with the advances also in computing power over that time that a block will end up being processed in 5 minutes thus cutting down the time to half or less?

Iranus

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Leading Crypto Sports Betting & Casino Platform

You're not quite right. New Bitcoin is created when a block is mined (like a group of transactions which happens approximately every ten minutes).

Every 210,000 blocks (about four years) the reward for mining a block halves.

So all the Bitcoin will have been mined by about 2140. However, the cap of 21 million is a hypothetical number and will not be reached, because miners can sort of choose to give themselves less.

Also, 21 million will definitely never be in circulation because there are many lost coins, which is when Bitcoin becomes inaccessible because people forget to back up their Bitcoin. These are still in the ledger and in existence but they can't be spent.

klongo123

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Hey I'm new to the forums and a new investor - Unf I got BTC when it was at 2400USD - but I'm in it for the long-term.
Quick question for you guys:

So the cap of BTC to ever be in circulation is approx 21million (currently approx 16 million in circulation)

Apparently the max amount of BTC able to me produced (mined) per day is 1800.

So 21million (max circulation) - 16million (current circulation) = 5 million

5 million/ 1800 (max daily mined) = 2777.77 (minumum days to reach max)
2777.77/ 365 (days of the year) = 7.6 years

This means the minimum amount of years to reach (max BTC in circulation) is 7.6 years.

I'll give it about 7.6-10 years for it to hit this point. But what do you guys think the value of BTC will be?

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