Topic: What factors can affect the value of Bitcoin? (Read 214 times)
I think it will still take a long time for all bitcoin to be mined, and to be honest i don't really know what will happen after that, but it will be really long so we shouldn't worry about that i guess, since if bitcoin is really surviving till that time, some experts might take action regarding that. Other than that, i think mining is still an interesting job for some. Even though they get less than before, but as long as bitcoin value is still high, and it's enough for them to cover up the expenses then it's fine. Most of the miners i know said that now their income decreases, however it still cover up the expenses and give them some earnings, so it's fine with them as long as they can still have money from it.
What happens when the Bitcoin source runs out and there is nothing to mine?
Questions that are often asked, but are always busy being discussed. Because indeed we are all curious about this BTC, the limited amount of BTC supply of course will decrease over time because more and more people will mine it. But I think this BTC will not run out, Because if the remaining BTC is just a little then the miner will only get 0.00000......1 BTC.
Adoption is the main cause and also banning, wherein reasons bitcoin showing a different reaction in the market. So don't be surprised if you saw bitcoin making progress or fluctuation because it's normal to be honest, what i mean is it's always happened even before and it's part of the routine. Probably without such scenario nowadays bitcoin isn't popular and very stagnant in the market. Remember bitcoin is so popular because of the volatility itself, so accept the fact why its always doing the same way even despite it makes improvement in the market. Because that's how enthusiast get profits.
There is to many to list and I do not think one person knows all the factors that can affect the price of Bitcoin. Any one who has a following like Elon Musk recently can affect the price with only their words and news articles can sway the opinion of investors and cause them to crash the market or pump the market. Then you have whales that can move their coins and cause panic from people with weak hands.
- Supply and demand
- Competition
- Production cost
- Exchange applicability
- Regulatory and legal affairs
After that, protocol mining may occur, and no one is doing mining.
What happens when the Bitcoin source runs out and there is nothing to mine? Why do the machines leave their capacity to sustain the mining? Currently, the reward for miners is the transaction cost, and in the future this will be the overall benefit of the miners. But does this account have enough for the miners to cover the cost of the tools and their main income?
The network will still be safe because the miners will continue to validate the transactions and earn corresponding fees for the same after all Bitcoins have been mined and you don't need to worry about it.The current rate of adoption suggest long term bull market and prices reaching high prices.This will be enough for miners to incentivise them.Suppose you are miner and btc prices are $500k in 2140 and you are earning monthly btc so would you miss it? Same is going to happen then and bitcoin will remain same and security will not be compromised at all.
There are actually a lot of factors here that can affect the price tag of bitcoin from hype to sentiment in the crypto community, from capitalization. For example, recently there was a decision by the government in China to prohibit manning in the country, sharply due to such a decision, the mood of the crypto community deteriorated and the price tag of bitcoin rushed down. What I mean, in fact, these factors can be added at any time from any event in the world ...
The transactions' fees will still be an income greater than the costs for some miners. For those who won't consider it profitable enough, it'll make them stop mining. This means that the difficulty will drop and it'll be profitable for more miners than before. That's how mining works and won't change if the block reward becomes zero. Sure, the security will (probably) decrease in the long run.
If Bitcoin adoption(and price) continues to increase as time goes, this should be enough incentive for miners to continue mining. And knowing that it's estimated that year 2140 is the year where almost all bitcoin has been mined already, that's more than enough time for Bitcoin to have enough adoption.
In the end, time will tell. And unfortunately we wouldn't be around in 2140 to see the results. All we can do is to have enough bitcoin for our children and grand children so they can reap the fruits of our labour.
If Bitcoin does not increase in price and stays the same price that it is now that is enough incentive I think as long as Bitcoin is worth something then it will be worth mining for some people because as you say block rewards do not end until 2140 after that I think the miners will go down because they will only be rewarded with transaction fees but that is over a 100 years away. In the end, time will tell. And unfortunately we wouldn't be around in 2140 to see the results. All we can do is to have enough bitcoin for our children and grand children so they can reap the fruits of our labour.
First factor is probably the supply and demand of the market, this basic economic principle is the main reason why the price of bitcoin is going up or down. It can also mean buy and sell, when there's less people buying the prices go up but if it's the opposite, the prices go down. Second factor is probably the events that are remotely crypto related, it can affect how the people feel about the market, look at the time when there's a lot of ICO scams, people were scared that bitcoin is a scam too and so the market plunged because people started selling because they're scared that they will be scammed.
- Supply and demand
- Competition
- Production cost
- Exchange applicability
- Regulatory and legal affairs
After that, protocol mining may occur, and no one is doing mining.
What happens when the Bitcoin source runs out and there is nothing to mine? Why do the machines leave their capacity to sustain the mining? Currently, the reward for miners is the transaction cost, and in the future this will be the overall benefit of the miners. But does this account have enough for the miners to cover the cost of the tools and their main income?
1.Please stop with the "What's happens when all BTC are mined?" question.This question has been asked 1 million times on the forum.Asking the same question for the 100001st time doesn't add anything to the discussion.
2.What machines and what capacity?What are you talking about?Can you elaborate more on this?
3.Currently,the revenue of the BTC miners are the transaction fees+block rewards.
After all BTC are mined(2140),the block reward will become zero.
I don't have a crystal ball and I'm not a prophet,so I can predict what will happen in 2140...
Even though I really want to live until 2140 to see the scene at that time, I think that in our lifetime, we will be able to see Bitcoin create financial innovation.Such changes may be more exciting than 2140.
Nobody knows what such things might happen by that year but what you've said is for sure. There's a big innovation and adoption that will happen in the side of finance because they're going to consider bitcoin and cryptocurrencies. As for this issue, this isn't going to be a problem to us but it's good to know what shall happen by that time.
Thing for sure, as you've read some answers already, it'll still fall to unpredictable future.
Till now near around 18 million bitcoin has been mined, and mining rewards also halved three times. That means, miners are getting fewer rewards nowadays than before. But the value of bitcoin and transaction fees are increased significantly, thus today's miners are benefited more than before. And there are only 3 million circulating supplies left, after this, a total of 21 million bitcoin will be mined. After that, the supply may increase or an alternative method may be developed to rewards the miners.
The value of Bitcoin is that it has three major elements: inalienable, freely circulating, and limited in total.It is only because the total amount of Bitcoin remains unchanged that scarcity will become more and more valuable.
No one can predict the future. If mining ends, there may be other ways to reward miners. But it will not increase the total amount.
On the one hand, the value of Bitcoin comes from the resources and labor invested by objective people, such as computing power, applications, etc.; the value of Bitcoin also comes from people's subjective identification. At least there are already a group of people in the world who recognize the value of Bitcoin and are willing to pay their own price to obtain it, or simply invest in its world.
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What happens when the Bitcoin source runs out and there is nothing to mine? Why do the machines leave their capacity to sustain the mining? Currently, the reward for miners is the transaction cost, and in the future this will be the overall benefit of the miners. But does this account have enough for the miners to cover the cost of the tools and their main income?
It will took so many years for miners to mine Bitcoin and if that time comes, I sure that many people already using Bitcoin and miners will benefit more on that due to increasing demand for transaction fee. We don't know how much TPS can handle by bitcoin but the fee is always in Bitcoin which gives miner a good profit because the equivalent fiat value of Bitcoin is increasing over time.
What happens when the Bitcoin source runs out and there is nothing to mine? Why do the machines leave their capacity to sustain the mining? Currently, the reward for miners is the transaction cost, and in the future this will be the overall benefit of the miners. But does this account have enough for the miners to cover the cost of the tools and their main income?
1.Please stop with the "What happens when all BTC are mined?" question.This question has been asked 1 million times on the forum.Asking the same question for the 100001st time doesn't add anything to the discussion.
2.What machines and what capacity?What are you talking about?Can you elaborate more on this?
3.Currently,the revenue of the BTC miners are the transaction fees+block rewards.
After all BTC are mined(2140),the block reward will become zero.
I don't have a crystal ball and I'm not a prophet,so I can't predict what will happen in 2140...
Even though I really want to live until 2140 to see the scene at that time, I think that in our lifetime, we will be able to see Bitcoin create financial innovation.Such changes may be more exciting than 2140.
Till now near around 18 million bitcoin has been mined, and mining rewards also halved three times. That means, miners are getting fewer rewards nowadays than before. But the value of bitcoin and transaction fees are increased significantly, thus today's miners are benefited more than before. And there are only 3 million circulating supplies left, after this, a total of 21 million bitcoin will be mined. After that, the supply may increase or an alternative method may be developed to rewards the miners.
If Bitcoin adoption(and price) continues to increase as time goes, this should be enough incentive for miners to continue mining. And knowing that it's estimated that year 2140 is the year where almost all bitcoin has been mined already, that's more than enough time for Bitcoin to have enough adoption.
In the end, time will tell. And unfortunately we wouldn't be around in 2140 to see the results. All we can do is to have enough bitcoin for our children and grand children so they can reap the fruits of our labour.
In the end, time will tell. And unfortunately we wouldn't be around in 2140 to see the results. All we can do is to have enough bitcoin for our children and grand children so they can reap the fruits of our labour.
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