When all bitcoin will be mined, the price can grow up very fast, faster than now
Topic: once all bitcoins are mined (Read 558 times)
I think that all bitcoin will be mined in 10-15 years, and i think that is not a problem, it will be only better for us
When all bitcoin will be mined, the price can grow up very fast, faster than now
When all bitcoin will be mined, the price can grow up very fast, faster than now
As you know, the total number of bitcoins that can be mined is 16 million, but 4 million of them are lost forever, due to forgotten passwords or dead users.
There are 21 million Bitcoins that can be mined. 16 million Bitcoins have been mined until now.
And "4 million lost" is very speculative. No one knows how many Bitcoins really have been lost. It could be much more or much less. No one knows.
Please try thinking a bit before posting... I understand that you don't want to waste too much time whilst post-farming, but please...
If you post quality content instead of nonsense, your account value will rise, which means that you'll be able to sell your account for more, scam more people or participate more easily in Signature Campaigns & spam them till they're broke!
Regards,
Trump
As you know, the total number of bitcoins that can be mined is 16 million, but 4 million of them are lost forever, due to forgotten passwords or dead users.
All Bitcoins will be mined on estimated year of 2140 so all of us will be dead and our 3rd generation are the one who can actually witness the history so we assume if all Bitcoin are all mined today then there will be another way to earn Bitcoin in order to continue to support all the transactions because miners are the responsible to write and seal the block into the blockchain. If ever there's no more Bitcoin to mine all miners will stop mining and the circulation of Bitcoin will continue.
Hello!
i was wonderning, how much time do you think it will take for all the bitcoins to be mined? And once all the bitcoins are mined how will that affect the price?
i was wonderning, how much time do you think it will take for all the bitcoins to be mined? And once all the bitcoins are mined how will that affect the price?
With its current trend I suppose that it would still last far longer than what we have projected I also do not think that it can be depleted totally just because that I think new ones are speouting with a lot of developers tinkering on it and giving it a new go.
I may think after a period from now all the bitcoin will come out and maybe the price will be taken into account more deeply the price will be needed and the input will only circulate in the market but maybe the price of bitcoin then can be estimated so high that 1 satoshi can mean so many millions.
If all bitcoins are mined then maybe the price will not increase that fast because mining will take time. The higher the demand the bigger is the chance that its price will increase also. One of the reasons why bitcoin became famous is through signature campaigns. Not all bitcoiners knows how to mine so it will not be that easy to mine all bitcoins.
I may think after a period from now all the bitcoin will come out and maybe the price will be taken into account more deeply the price will be needed and the input will only circulate in the market but maybe the price of bitcoin then can be estimated so high that 1 satoshi can mean so many millions.
of course if all bitcoin in the world already mined i think the price of bitcoin will be affected, if the bitcoin demand is still high i think the price of bitcoin will expensive, but id the demand is low i think the price of bitcoin will drop
Oh would it?
"if the bitcoin demand is high, bitcoin expensive"
"if the bitcoin demand is low, bitcoin cheap"
YEAH DUHHH
that's the basics of the market. Demand & Supply. High demand, high price. Low demand, low price.
So please tell us more about how the bitcoin price would be affected...
I'm interested to hear what else you can tell us.
Regards,
Trump
Hello!
i was wonderning, how much time do you think it will take for all the bitcoins to be mined? And once all the bitcoins are mined how will that affect the price?
i was wonderning, how much time do you think it will take for all the bitcoins to be mined? And once all the bitcoins are mined how will that affect the price?
If we think technically and in accordance to halving theorem, whole Bitcoins can never be mined because the numbers can never become zero. But if we addon the feasibility aspect, after 124 years from last halving, rewards will drop below 1 satoshi hence it will become zero profitable to mine any further. Thus mining will stop there and some 0.00000xx BTC will left unmined.
Now coming to prices. Current supply is ~80% of total Bitcoin which is very low according demand of Bitcoins. Adding 20% more to it or stopping it here won't affect the ongoing demand much. Hence there are several other factors having huge impacts on Bitcoin prices already. In such scenario, I don't think stoppage in increasing supply would impact price much because it is going to be very slow and gradual process.
of course if all bitcoin in the world already mined i think the price of bitcoin will be affected, if the bitcoin demand is still high i think the price of bitcoin will expensive, but id the demand is low i think the price of bitcoin will drop
Look at the price of Bitcoin now when we're at around 16.7 million circulating supply, which is almost at the five figure mark. Consider it takes over a century for all the coins to be mined (though I think it will be much faster with advancement in technology) I'm expecting the price to surpass the six figure mark. At that point, the miners will be solely living off the transaction fees as the block reward would be almost negligible. Just hope Bitcoin scales well enough into the next century with the core implementing sufficient advancements for the next generation.
Hello!
i was wonderning, how much time do you think it will take for all the bitcoins to be mined? And once all the bitcoins are mined how will that affect the price?
i was wonderning, how much time do you think it will take for all the bitcoins to be mined? And once all the bitcoins are mined how will that affect the price?
For all the coins to be mined, it would take around 2140-2142. So that is a lot of time and most of us here should be gone by that time. And once is it mined, the price could be around thousands of dollars because bitcoin is no longer in circulation so its gonna be rare. I think of it like a treasure for those crypto hunter of the future. They are going to outbid themselves in order to have that precious bitcoin on their hand. Bitcoin will be like a trophy or something for 'treasure/crypto hunters.
Hello!
i was wonderning, how much time do you think it will take for all the bitcoins to be mined? And once all the bitcoins are mined how will that affect the price?
i was wonderning, how much time do you think it will take for all the bitcoins to be mined? And once all the bitcoins are mined how will that affect the price?
As it is clear that it will take 2140 for the bitcoins to be mined totally and due that time the price of the bitcoin will be unimaginable so the miners will get benefited by transaction fees as the price will also be good for low transaction fees also.
I think will far from this year that bitcoin is mined all. In that case, if bitcoin still running as the way it runs now, bitcoin will be more stable and become one of the most valuable thing in the world.
This is worrisome. If it is fully exploited, its value will be high. And to pay a pretty high amount for a bitcoin. And unfortunately, future generations have no bitcoin to use if we do not know the savings
How is all bitcoin being mined an "exploit"? How is bitcoin's value being high a bad thing? Future generations will still have bitcoin to use. Bitcoin as a currency will *hopefully* be used frequently as a payment method in the future, hence will always be in circulation, just like how fiat works.
Unrelated.
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This is worrisome. If it is fully exploited, its value will be high. And to pay a pretty high amount for a bitcoin. And unfortunately, future generations have no bitcoin to use if we do not know the savings
Hello!
i was wonderning, how much time do you think it will take for all the bitcoins to be mined? And once all the bitcoins are mined how will that affect the price?
i was wonderning, how much time do you think it will take for all the bitcoins to be mined? And once all the bitcoins are mined how will that affect the price?
It will take more than a century from now until all bitcoins have been mined.
When there will be no Bitcoins to mine, this will be the result:
-No inflation -> Higher price
-Higher transaction fees -> Lower price
The higher transaction fees can be solved by some updates to the network, which is a subject people are actively discussing at the moment.
Regards,
Trump
Our generation doesn't have to worry about the effects of Bitcoin being depleted and how miners are going to cope with just transaction fees and will transactions fees be a lot higher because of the date mentioned above none of us will be here.
I don´t think this is necessarily true. The blockreward will become pretty small in our lifetimes. In 7 years the block reward will be only 3.125 BTC.
This equates to a block reward decrease of 75 % if you compare it to the current block reward. You can easily see that you will still experience
a time when the BTC block reward will be pretty small if you have a remaining life expectancy of 20-30 years.
Nonetheless, one BTC could be worth several hundred thousand dollars at this point, which would keep up the incentives
for the miners. As of now roughly 8-9 % of the miner revenue are coming from transaction fees. If the BTC price
doesn´t increase substantially after the block reward halvings this number needs to increase if we still
want to use a secure transaction network.
However, I think Satoshi set it up beautifully in the initial Bitcoin design. As the block reward decreases the selling pressure that is caused
by miners also decreases, which should lead to a price increase that should offset the losses for the miners.
as estimated before, our generation will no longer be existing at that time, maybe for the next generations they will actually witness all the mined bitcoins and being circulated in the economy. i was also wondering what will the future generations look like, or what would they feel on the first place, and most of all what will be bitcoin's price by then, and if it would still be existing at that time.
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