TBH i dont think anything will change, and not many users even look at this as some kind of a milestone.
All eyes are on halving, and getting ready for a bit lower prices to start gathering coins, but even that is still far off.
cheers
Topic: Two weeks until the 14 millionth coin is mined (Read 1259 times)
And most Bicoin(more than 90%) will be mined before 2050, I'm curious about what would happens if most Bitcoin were mined. High Bitcoin prices?
Was not aware of where we were in the coin generation scale thanks for the note 14/21 66.6% there hehe
I would say it has negligible effect but it will likely get some interest from people celebrating
I would say it has negligible effect but it will likely get some interest from people celebrating
Any happening that wakes people up to the fact that BTC isn't an infinitely expanding resource is a good thing. I think it often slips minds.
Within less than ten years there'll be under 4% of all coins that'll ever be left to mine. People looking back will marvel at the torrent of coins arriving every day.
It'll be fascinating to see what happens when it truly is deflationary.
Within less than ten years there'll be under 4% of all coins that'll ever be left to mine. People looking back will marvel at the torrent of coins arriving every day.
It'll be fascinating to see what happens when it truly is deflationary.
Block halving will definitely affect the price of Bitcoin. Probably around Eastern 2016 we may experience some upwards move. Taking into account that speculation is still the main driving force behind the price movement, we may be pretty sure of this.
How will the price be affected?
On one hand the inflation rate will not substantially change until next July, 500 days from now. On the other hand it is a psychological reminder that this is coming, many people seem to be unaware of it.
I don't think this is going to affect the price much. Mining related stuff, we can only wait for the halving to have an impact, if anything, other than that I dont see it. On one hand the inflation rate will not substantially change until next July, 500 days from now. On the other hand it is a psychological reminder that this is coming, many people seem to be unaware of it.
Well I would say most people would not even realize about it. and that's me included. Hence I don't expect it to have the slightest impact on price even after having used to see the number 13,XXX,XXX appearing for so long. What is more profound is when it is closer to the halving date and new threads are being posted in forum, cryptocoins news site started posting about it, and that will it make a difference.
I strongly disagree with the conventional notion that at the time of last halfing, it was priced in 6-months prior. The reason being, it was an unknown market back then; it's also ludicrous to think that everyone was able to anticipate something 6-months before it happened--6 months is a long time in bitcoin-land. I strongly believe it was a mere coincidence that price rose 6 months before the last halfing. Price didn't go up following the halfing because market was big enough to absorb the decrease in number of coins mined. Market is much bigger now, so it should absorb another halfing without affecting the price too much this time, again.
BTW, did you know 14 millionth bitcoin respresents 66.666% of all bitcoins?
BTW, did you know 14 millionth bitcoin respresents 66.666% of all bitcoins?
yea, two thirds of ALL bitcoin in April. Maybe it will give impetus for belated Wall street to buy-in.
I strongly disagree with the conventional notion that at the time of last halfing, it was priced in 6-months prior. The reason being, it was an unknown market back then; it's also ludicrous to think that everyone was able to anticipate something 6-months before it happened--6 months is a long time in bitcoin-land. I strongly believe it was a mere coincidence that price rose 6 months before the last halfing. Price didn't go up following the halfing because market was big enough to absorb the decrease in number of coins mined. Market is much bigger now, so it should absorb another halfing without affecting the price too much this time, again.
BTW, did you know 14 millionth bitcoin respresents 66.666% of all bitcoins?
BTW, did you know 14 millionth bitcoin respresents 66.666% of all bitcoins?
Yeah but the halving is being priced in at some point The flow of new Bitcoins into the market gets cut down in half, also in a highly predictable manner - which causes people to prepare for that event.
I strongly disagree with the conventional notion that at the time of last halfing, it was priced in 6-months prior. The reason being, it was an unknown market back then; it's also ludicrous to think that everyone was able to anticipate something 6-months before it happened--6 months is a long time in bitcoin-land. I strongly believe it was a mere coincidence that price rose 6 months before the last halfing. Price didn't go up following the halfing because market was big enough to absorb the decrease in number of coins mined. Market is much bigger now, so it should absorb another halfing without affecting the price too much this time, again.
BTW, did you know 14 millionth bitcoin respresents 66.666% of all bitcoins?
BTW, did you know 14 millionth bitcoin respresents 66.666% of all bitcoins?
I read somewhere that people were trying to buy the last 50 BTC block reward or the first 25 BTC reward (can't quite remember). I don't think something like that will happen with any even number of coins. The next block reward halving, on the other hand, will benefit the price. It will be priced in and/or push the price up afterwards.
Nothing will happen.
Most traders are unlikely to notice.
Nothing will happen.
How will the price be affected?
On one hand the inflation rate will not substantially change until next July, 500 days from now. On the other hand it is a psychological reminder that this is coming, many people seem to be unaware of it.
On one hand the inflation rate will not substantially change until next July, 500 days from now. On the other hand it is a psychological reminder that this is coming, many people seem to be unaware of it.
i think around 6 months before block halving price will go up. at the time block halving have taken place it won't go up because the price already made the jump before the actual halving. it will be interesting to see if the price will keep going up or even going down at moment of halving due to what i wrote at the beginning of my post.
How will the price be affected?
On one hand the inflation rate will not substantially change until next July, 500 days from now. On the other hand it is a psychological reminder that this is coming, many people seem to be unaware of it.
On one hand the inflation rate will not substantially change until next July, 500 days from now. On the other hand it is a psychological reminder that this is coming, many people seem to be unaware of it.
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