What do you think will happen to the price when all the bitcoins are mined? - page 4.

awik p

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Quote from: Hippocrypto on October 24, 2021, 06:04:19 AM

Quote from: katsuking on October 15, 2021, 05:07:58 AM

The maximum number of bitcoins that can be issued is fixed.
Eighty percent of the coins have already been mined.
What do you think will happen to the price after all the bitcoins have been mined?
What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?

If it happened that all bitcoins are mined, the price of bitcoins will surely be value 6 to 7 digits based on USD. If that will happen then there's no reason for us to hold our coins and surely all of us will gain profit. I believe that bitcoin will be more stable that we don't need to worry everything. But, it is very difficult to say it now since the time is very long. We can't say it now because it is not easy to predict what will gonna happen to the near future. If that happen, I am very sure that digital currency will be better major in the future.

to be able to mine all of them, of course it takes a very long time, and at that time there may already be the latest regulations on bitcoin in every country, maybe many countries have legalized it, and of course bitcoin will be the same as fiat currency movements, and maybe the fluctuations tend to be stable. hopefully by then bitcoin can be an alternative payment instrument at least

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Quote from: katsuking on October 15, 2021, 05:07:58 AM

The maximum number of bitcoins that can be issued is fixed.Eighty percent of the coins have already been mined.

The big majority of the coins have already been issued. Currently, the reward per block is 6.25BTC which will decrease to 3.125BTC

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What do you think will happen to the price after all the bitcoins have been mined?

I take it that if bitcoin still exists at that point the price will surge right before all coins have been issued.

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What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?

If bitcoin is still alive at that point it would mean that it went mainstream and probably adopted as the World currency. So, as said, I expect a price surge as scarcity will push the price to the moon and so forth and of course that this will have serious global implications.

Hippocrypto

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Quote from: katsuking on October 15, 2021, 05:07:58 AM

The maximum number of bitcoins that can be issued is fixed.
Eighty percent of the coins have already been mined.
What do you think will happen to the price after all the bitcoins have been mined?
What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?

If it happened that all bitcoins are mined, the price of bitcoins will surely be value 6 to 7 digits based on USD. If that will happen then there's no reason for us to hold our coins and surely all of us will gain profit. I believe that bitcoin will be more stable that we don't need to worry everything. But, it is very difficult to say it now since the time is very long. We can't say it now because it is not easy to predict what will gonna happen to the near future. If that happen, I am very sure that digital currency will be better major in the future.

Rishabh riyz

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Quote from: katsuking on October 15, 2021, 05:07:58 AM

The maximum number of bitcoins that can be issued is fixed.
Eighty percent of the coins have already been mined.
What do you think will happen to the price after all the bitcoins have been mined?
What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?

well it is true that of all the 21 million BTC that can be mined we have already mined 18.87 million , with 900 estimated to be an average number that are mined per day .
we believe that all of the BTC could be mined till 2140 , this is assumed by calculating the block rewards for miners which is halved every 4 years, it was 50 bitcoins In 2012,then halved to 25 bitcoins, and it went down to 12.5 in 2016 and in may 2020 its 6.25 for every new block .

now when Bitcoin reaches its supply cap, the block rewards that the minders used to get will vanish, and miners will depend on fees from transactions on the cryptocurrency's network for revenue , this may cause increase in transaction fees.

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Quote from: katsuking on October 15, 2021, 05:07:58 AM

The maximum number of bitcoins that can be issued is fixed.
Eighty percent of the coins have already been mined.
What do you think will happen to the price after all the bitcoins have been mined?
What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?

There are many possible scenarios after all Bitcoin are mined. Either Bitcoin's price stabilizes on the market or goes all the way to the moon. By that time, prices will be a lot higher than what they are right now. We may not be able to witness those events, but our descendants will. Miners will live solely on network fees, so one would expect Bitcoin to be extremely valuable by that time.

At least, we won't need to worry what'll happen after the last Bitcoin is mined during our lifetimes. Who knows if something better than Bitcoin comes up in the future, effectively making it obsolete? Just my opinion

Dr.Osh

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guessing in this case is a difficult thing, because it is still a very long time. however, some of the things I can speculate on is that the price of bitcoins will be very high, given that they are very limited in number. if bitcoin became very popular at that time, it is very difficult to predict its price. In addition, bitcoin may no longer be valued as a currency, but as an investment tool. however, it will be in stiff competition with gold or gems. Well, that's still speculation, but it could be the other way around.

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Quote from: katsuking on October 15, 2021, 05:07:58 AM

What do you think will happen to the price after all the bitcoins have been mined?

Sorry I dont have a time machine...yet.

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What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?

Again, I dont have a time machine....yet. Tongue

Does it really matter that much to anybody of this age?

Like we are 119years from that event and I am sure the number of forum users of this time who will survive to see that day is close to zero, comparing to what the global life expectancy is: https://ourworldindata.org/life-expectancy

But to answer you real question which is whether bitcoin will have any impact on the economy at that time - as long as someone keeps using bitcoin, its demand will remain. Miners will continue mining the transactions and they will not stop doing that. It would probably be useful to teach your next generation about the past and to invest part of their portfolio into bitcoin.

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Quote from: katsuking on October 15, 2021, 05:07:58 AM

The maximum number of bitcoins that can be issued is fixed.
Eighty percent of the coins have already been mined.
What do you think will happen to the price after all the bitcoins have been mined?
What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?

It's really hard to predict what would happen to bitcoin if ever all of it will be mined already. Although by simply analyzing the possible scenario which is limited to no more supply and market has still high demand for it, surely bitcoin's price will skyrocket. I based my analysis on the fundamental and basic law of supply and demand. Of course, when people still want bitcoin for themselves and there is no left to be mined, the trend will go upward making a positive impact on the community. But that would be so far from now if my estimates are not mistaken. By then, the value of bitcoin could possibly surpass half a million. I guess we won't around by then, but it's still nice to invest in it because we can give it as an inheritance to the future generation of our bloodline.

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Quote from: amihada on October 17, 2021, 04:16:51 AM

In the future bitcoin may become a legal currency even if all bitcoins are mined then the bitcoin price will not go down maybe the bitcoin price will be higher because the transaction is higher then the bitcoin price will not be controlled by anyone I am very sure digital currency will be better major in the future.

Well anyway... here it is not only mining that is the center as the use of Bitcoin itself, but there will also still be many other things to do besides people taking the initiative just to mine, maybe even in the future Bitcoin will play a more important role in the necessities of life and become worthy common currency globally as an alternative for many people to transact goods and other things. And because of that... of course Bitcoin will be at a high value, which will look more stable. After all, even if there are people who are mining, of course after mining they will definitely sell them to the local currency, and I don't think it will affect it until it decreases in price movements.

V-t.Ester

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During almost 12 years that had passed from the 3 January 2009, when the first block was generated, BTC grown up to 60K dollars. If to look through the graphic on coinmarketcap https://coinmarketcap.com/currencies/bitcoin/ and to suggest that BTC’s price will continue growing in progress and with the same temp, then in 2024 year, after the next halving, we will see the next huge jump of BTC. Probably to 600K. Sounds amazing but, sure, unreal. In such case till 2140 year when the last block will be mined the price on BTC will be extremely high (sure if dollars will still exist but not hyper inflate as well as all the other fiat money). However no one of us will see that.

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Quote from: Oasisman on October 17, 2021, 04:55:48 AM

Quote from: katsuking on October 15, 2021, 05:07:58 AM

The maximum number of bitcoins that can be issued is fixed.
Eighty percent of the coins have already been mined.
What do you think will happen to the price after all the bitcoins have been mined?
What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?

The question has been asked several times already, but then my answer still remains.
Why would we worry much about the things that we're not going to witness once it happens?
I mean, we're still very far from mining all the Bitcon cap. There will still a lot of adoption, global effects, and price changed that will going to happen before we could identify a close answer to those kind of questions.

especially when bitcoin users are still minimal, are they more than 3% of the world's population.... so there's no need to worry until our current generation. and that means a huge opportunity is still waiting to join bitcoin, so that we will benefit from it. on the other hand cryptocurrency is not just bitcoin, and we can take advantage of it

Huppercase

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I am actually concern how the miners will survived during that era, I will not be alive by then, 2140 is such a long year to come by but I think it's kind of hard to predict what will happen by then.
If miners wouldn't have block reward again, how are the going to survive with just an ordinary transactions fees, that's small compared to block rewards

Oasisman

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Quote from: katsuking on October 15, 2021, 05:07:58 AM

The maximum number of bitcoins that can be issued is fixed.
Eighty percent of the coins have already been mined.
What do you think will happen to the price after all the bitcoins have been mined?
What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?

The question has been asked several times already, but then my answer still remains.
Why would we worry much about the things that we're not going to witness once it happens?
I mean, we're still very far from mining all the Bitcon cap. There will still a lot of adoption, global effects, and price changed that will going to happen before we could identify a close answer to those kind of questions.

amihada

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In the future bitcoin may become a legal currency even if all bitcoins are mined then the bitcoin price will not go down maybe the bitcoin price will be higher because the transaction is higher then the bitcoin price will not be controlled by anyone I am very sure digital currency will be better major in the future.

bekti3

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It is very difficult to say this now.
the time is still very long because it is estimated that btc is depleted in 2140 and it is still about 119 years from now.

we can not say that things like this in a period of more than a century it is not very easy to predict.
besides that all of us who are in the forum today may not even exist in the world when bitcoins are mined out.

redsun114

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A lot of people have said that at the time when all the bitcoins are mined, the price of bitcoin is going to be very stable at that time and we are not going to be seeing any much of the volatile nature of bitcoin any longer. But, I don’t really think that that’s how it’d going to be when that time comes in the future.

If the price of bitcoin is increasing because there is a high demand more than supply, then we should be looking forward to more of the increase in price if the supply should reach its limit, because demand is going to get higher than the supply and since there isn’t a lot of supply that’s coming in any longer then we are going to see more of an increase in price.

Mahanton

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Quote from: katsuking on October 15, 2021, 05:07:58 AM

The maximum number of bitcoins that can be issued is fixed.
Eighty percent of the coins have already been mined.
What do you think will happen to the price after all the bitcoins have been mined?
What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?

No one knows on what would happen in year 2140+ because this is the year on where all coins be mined whether bitcoin is still able to exist on those years or totally been replaced by something new
because if we do tend to presume out on what are the things or events happen in 100 years time then its really hard to predict even just guessing on tomorrows whether doesnt give out 100% accuracy.
Considering that there are coins which are not in circulation and those are lost coins. Global economy is something not really that mainly touched up by crypto market.

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Quote from: BlackHatCoiner on October 16, 2021, 07:45:51 AM

Rising price doesn't mean that the adoption increases. The federal reserve can print a trillion of dollars and increase the exchange rate of BTC/USD, but the adoption remains the same.

I also included this in my above post, that is one thing about dollar and fiat generally, people that are using bitcoin for now are not that much if compared to the total population in the world, that will make the adoption to increase, increase in the adoption will have positive effect that will lead to price rise, but dollar too will reduce value which will contribute to bitcoin price increase.

Quote from: Oshosondy on October 16, 2021, 02:27:28 AM

This should likely be what exactly could happen, more people will demand for bitcoin, but let us not forget, the price of dollar will be reduced by the USA government which will make bitcoin more valuable.

Kakmakr

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By the time that happens, all of us will be dead.... so we should not be worried about that. I seriously think people are making issues of things that will not affect them in any way.

The other thing is..... Bitcoin might not even be around by then, simply because it will be replaced by a much better technology. We already have thousands of Alt coins that are better than Bitcoin in some features.... so how many of the newer Alt coins will be much better... 10 or 20 years from now. Roll Eyes

Ozero

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I do not think that the price of bitcoin will depend on whether it is mined in full or not. And we will not know it, it will be only in about 120 years. By that time, a lot of things are bound to change. We do not even know yet what the cryptocurrency will be, if at all, and what bitcoin will be like. Over time, bitcoins also continue to be lost for various reasons, access to them is terminated and this will also affect its price.

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