Topic: produced 17 million BTC, when will they get 21 million? - page 3. (Read 670 times)
The fact that the miners outstrips the schedule for bitcoins for six months, according to which the last bitcoin will be mined by 2140, does not matter. So far, 17 million bitcoins have been extracted, but access to more than six million of them has already been lost for various reasons. Now, every day around the world, 1800 bitcoins are produced. Their number will be halved every four years, hence the significant delay in their extraction at the final stage.
produced 17 million BTC, is it really we go through this schedule to 2033 will get 21 million BTC?
earlier forecasts gave a production of 21 million BTC in 2140. What forecasts are real and when will we get 21 million BTC?
miners have already "snatched" from the algorithm for almost six months, and this trend can continue?
earlier forecasts gave a production of 21 million BTC in 2140. What forecasts are real and when will we get 21 million BTC?
miners have already "snatched" from the algorithm for almost six months, and this trend can continue?
The "schedule" is based on the number of block, not per year, although it should also be pretty accurate per year too, because afaik the mining difficulty keeps adjusting to match this.
I don't know where you have that graph (and btw, your graph shows a difference of 107 years by my math, not 6 months), but the official timeline tells a range between 2129 and 2149.
The whole thing is written here, if you have the patience to read.
Edit: I've re-checked your image vs the official numbers and I think I know where your dilemma comes from. Because of the halving the block reward will become smaller and smaller and for the last years it will be really small (really really really small). Just check the reward eras.
that corresponds to this settlement table from the source specified by You, and 2 more years are allocated for the next million BTC. But time is so fast and the BTC algorithm and the block calculation speed are changing due to the application of technologies. will it be enough what happens the adjustment takes place through 2016 blocks (about two weeks) and there is an acceleration of production due to the constant growth of the hashrate network.
Here's a nice little explanation to answer your question: https://www.reddit.com/r/Bitcoin/comments/5qnw5h/when_will_we_reach_the_21_millions_bitcoin_cap/
It will never hit exactly 21 million unless something bad happens, but the block subsidy is set to deplete at block 6,930,000 which is estimated to occur sometime around the year 2140.
However, the vast majority of coins (99%) will have been mined by around 2032, when the block subsidy drops to less than 1 BTC per block. Roughly 20.67 million coins will exist, leaving less than 1/2 a million to be mined over the next 100 years.
See:
https://en.bitcoin.it/wiki/Controlled_supply
https://plot.ly/~BashCo/5.embed?share_key=ljQVkaTiHXjX2W41UiqzCn
Yes, from the point of view of theoretical calculations, all right, but miners have already "snatched" from the algorithm for almost six months due to lag of correction. It will never hit exactly 21 million unless something bad happens, but the block subsidy is set to deplete at block 6,930,000 which is estimated to occur sometime around the year 2140.
However, the vast majority of coins (99%) will have been mined by around 2032, when the block subsidy drops to less than 1 BTC per block. Roughly 20.67 million coins will exist, leaving less than 1/2 a million to be mined over the next 100 years.
See:
https://en.bitcoin.it/wiki/Controlled_supply
https://plot.ly/~BashCo/5.embed?share_key=ljQVkaTiHXjX2W41UiqzCn
Hashrate network grows day and night and using a two-week period of adaptation, whether it is possible to accelerate production due to this two-week period or a sharp increase in power.
Here's a nice little explanation to answer your question: https://www.reddit.com/r/Bitcoin/comments/5qnw5h/when_will_we_reach_the_21_millions_bitcoin_cap/
It will never hit exactly 21 million unless something bad happens, but the block subsidy is set to deplete at block 6,930,000 which is estimated to occur sometime around the year 2140.
However, the vast majority of coins (99%) will have been mined by around 2032, when the block subsidy drops to less than 1 BTC per block. Roughly 20.67 million coins will exist, leaving less than 1/2 a million to be mined over the next 100 years.
See:
https://en.bitcoin.it/wiki/Controlled_supply
https://plot.ly/~BashCo/5.embed?share_key=ljQVkaTiHXjX2W41UiqzCn
It will never hit exactly 21 million unless something bad happens, but the block subsidy is set to deplete at block 6,930,000 which is estimated to occur sometime around the year 2140.
However, the vast majority of coins (99%) will have been mined by around 2032, when the block subsidy drops to less than 1 BTC per block. Roughly 20.67 million coins will exist, leaving less than 1/2 a million to be mined over the next 100 years.
See:
https://en.bitcoin.it/wiki/Controlled_supply
https://plot.ly/~BashCo/5.embed?share_key=ljQVkaTiHXjX2W41UiqzCn
. . . 2 more years. Or 3 . . .
Nonsense. Absolute nonsense. Please just go away. If you can't be bothered to learn the absolute basics, then you shouldn't be answering questions.
it is already 21million in supply
What?
No. Just no.
Issue 17 million coins occurred on unit number 519,996.
that corresponds to this settlement table from the source specified by You, and 2 more years are allocated for the next million BTC. But time is so fast and the BTC algorithm and the block calculation speed are changing due to the application of technologies.
that corresponds to this settlement table from the source specified by You, and 2 more years are allocated for the next million BTC. But time is so fast and the BTC algorithm and the block calculation speed are changing due to the application of technologies.
The technology doesn't matter. Just imagine that Bitcoin was, at start, a CPU coin. And block times were pretty similar, I think.
Bitcoin is done in a way that doesn't matter how the mining technology advances; from time to time the network difficulty adjust itself to match this and obtain pretty similar block times.
i think it is already 21million in supply they already reach the max capacity of coin but we cant see those 21m because some of them are holder they only waiting for the good time to sell it.
I think in 2 more years. Or 3, depending on future mining technology.
produced 17 million BTC, is it really we go through this schedule to 2033 will get 21 million BTC?
earlier forecasts gave a production of 21 million BTC in 2140. What forecasts are real and when will we get 21 million BTC?
miners have already "snatched" from the algorithm for almost six months, and this trend can continue?
earlier forecasts gave a production of 21 million BTC in 2140. What forecasts are real and when will we get 21 million BTC?
miners have already "snatched" from the algorithm for almost six months, and this trend can continue?
The "schedule" is based on the number of block, not per year, although it should also be pretty accurate per year too, because afaik the mining difficulty keeps adjusting to match this.
I don't know where you have that graph (and btw, your graph shows a difference of 107 years by my math, not 6 months), but the official timeline tells a range between 2129 and 2149.
The whole thing is written here, if you have the patience to read.
Edit: I've re-checked your image vs the official numbers and I think I know where your dilemma comes from. Because of the halving the block reward will become smaller and smaller and for the last years it will be really small (really really really small). Just check the reward eras.
that corresponds to this settlement table from the source specified by You, and 2 more years are allocated for the next million BTC. But time is so fast and the BTC algorithm and the block calculation speed are changing due to the application of technologies. will it be enough what happens the adjustment takes place through 2016 blocks (about two weeks) and there is an acceleration of production due to the constant growth of the hashrate network.
produced 17 million BTC, is it really we go through this schedule to 2033 will get 21 million BTC?
earlier forecasts gave a production of 21 million BTC in 2140. What forecasts are real and when will we get 21 million BTC?
miners have already "snatched" from the algorithm for almost six months, and this trend can continue?
earlier forecasts gave a production of 21 million BTC in 2140. What forecasts are real and when will we get 21 million BTC?
miners have already "snatched" from the algorithm for almost six months, and this trend can continue?
The "schedule" is based on the number of block, not per year, although it should also be pretty accurate per year too, because afaik the mining difficulty keeps adjusting to match this.
I don't know where you have that graph (and btw, your graph shows a difference of 107 years by my math, not 6 months), but the official timeline tells a range between 2129 and 2149.
The whole thing is written here, if you have the patience to read.
Edit: I've re-checked your image vs the official numbers and I think I know where your dilemma comes from. Because of the halving the block reward will become smaller and smaller and for the last years it will be really small (really really really small). Just check the reward eras.
produced 17 million BTC, is it really we go through this schedule to 2033 will get 21 million BTC?
the percentage of coins produced is 81%. Issue 17 million coins occurred on unit number 519,996.
Earlier forecasts gave a production of 21 million BTC in 2140. What forecasts are real and when will we get 21 million BTC?
miners have already "snatched" from the algorithm for almost six months, and this trend can continue?
the percentage of coins produced is 81%. Issue 17 million coins occurred on unit number 519,996.
Earlier forecasts gave a production of 21 million BTC in 2140. What forecasts are real and when will we get 21 million BTC?
miners have already "snatched" from the algorithm for almost six months, and this trend can continue?
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