When will the bitcoin run out? - page 2.

Juggy777

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Quote from: dina dini on June 25, 2017, 05:54:37 PM

i'm not sure but it will happen!

Hmm don't know but I don't think any one of us will even be alive to see it, simply Bitcoin is being adopted at a rapid phase, and I don't think that it shall end anytime soon, so for that matter I don't see Bitcoin death anytime soon, but then again there only 21 million Bitcoins available so once they are mined out, will determine what actually happens till then it's a wait and watch.

DoublerHunter

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Quote from: FlightyPouch on June 27, 2017, 04:45:13 AM

Quote from: jekjekman on June 27, 2017, 04:41:04 AM

I think bitcoin will never run out because once it is mined it is mined already and no way you can unmine it, maybe 'when will the bitcoin goes useless or reach 0 value' is much better question.

No one can really tell what will be the future even though bitcoin is in the glory days. Maybe there is the best currency that will be invented that is more convenient than bitcoin and make it less value or even kill it, who knows.

Bitcoin will stay and it will be trashed unused when mined. He don't mean to say this like a water on a pond that will run out in summer, he maybe means run out when all the 21 million bitcoins we're mined but it is still in the far future. There are a lot of digital currencies that is made, but bitcoin is still at the top.

It will take a lot of years before bitcoin will be mined out because it is not that easy to mine and it takes a lot of power of a machine to compute the algorithm and get the reward as a bitcoin and even though bitcoin will run out, there is still a lot of coins to buy that has more potential in bitcoin in the long term because of its features.

UCHCHILD

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I guess it will not happen this year

hopefully. Actually only Satoshi can answer that and if people continue on buying the coin and holding it for long then we are going to reach the limit of it since the demand will reach 100% that causes of run out of the bitcoin. But for sure this thing will never be happen because it will circulate in such times. So we do not need to worry. People is witty they can provide solution.

FlightyPouch

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Quote from: jekjekman on June 27, 2017, 04:41:04 AM

I think bitcoin will never run out because once it is mined it is mined already and no way you can unmine it, maybe 'when will the bitcoin goes useless or reach 0 value' is much better question.

No one can really tell what will be the future even though bitcoin is in the glory days. Maybe there is the best currency that will be invented that is more convenient than bitcoin and make it less value or even kill it, who knows.

Bitcoin will stay and it will be trashed unused when mined. He don't mean to say this like a water on a pond that will run out in summer, he maybe means run out when all the 21 million bitcoins we're mined but it is still in the far future. There are a lot of digital currencies that is made, but bitcoin is still at the top.

jekjekman

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I think bitcoin will never run out because once it is mined it is mined already and no way you can unmine it, maybe 'when will the bitcoin goes useless or reach 0 value' is much better question.

No one can really tell what will be the future even though bitcoin is in the glory days. Maybe there is the best currency that will be invented that is more convenient than bitcoin and make it less value or even kill it, who knows.

YuginKadoya

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Quote from: Remainder on June 27, 2017, 03:46:16 AM

I think no one can know if bitcoin will be run out! I think Satohi Nakamoto only know about it! but for us let just continue what are we doing to earn bitcoin.

There are many in here have a speculation that bitcoin will surely run out and in 2024 it is nearing into the end on the Block with a 93.750% End of BTC percentage limit, and yes speculation are in the year 2140, and I think Satoshi really know that this time will come and bitcoin is not really infinite but I think he too don't predicted when it will be, I think you need to analyze this link https://en.bitcoin.it/wiki/Controlled_supply

Bejkn

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what do you mean "run out"?

23 million have been mined? never worried, unless everyone hoards his own bitcoins, if it happened, bitcoin is dead.

krishnapramod

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Quote from: dina dini on June 25, 2017, 05:54:37 PM

i'm not sure but it will happen!

Run out

Quote

(of a supply of something) be used up.

If you mean would bitcoin supply dry up eventually, yes it would, probably around 2140. But it cannot be exactly predicted when the last bitcoin would be mined because 100 years from now technology would have changed a lot and how it is going to affect mining, no one knows.

Quote

As it is very difficult to predict how mining power will evolve into the future - i.e. whether technological progress will continue to make hardware faster or whether mining will hit a a technological wall; or whether or not faster methods of SHA2 calculation will be discovered - putting an exact date or even year on this event is difficult.

https://en.bitcoin.it/wiki/Controlled_supply

Even after the last bitcoin has been mined, it is not going to change anything. That is why halving is there, started from 50 blocks and gradually decreasing so that miners could easily transition from incentives from block reward to incentives from bitcoin transaction fees.

Remainder

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I think no one can know if bitcoin will be run out! I think Satohi Nakamoto only know about it! but for us let just continue what are we doing to earn bitcoin.

Scorpion

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Mining rewards are halved every approximately 4 years, so eventually the last 'BTC' mined will be in the year 2140. There will still be BTC miners in the year 2140 and after because they will be rewarded network fees.

btctube

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Quote from: duranv on June 26, 2017, 02:02:31 AM

According to what I've read Bitcoin is limited to 21 million Bitcoins, so if your question refers to when will there be a stop to the flow of Bitcoins via mining it will stop once 21 million have been mined.

It will not stop because after the 21 million will all be mined, those transactions will still be mined for it to be processed. Miners will still be earning through those fees sent by millions of bitcoin users. I doubt btc will run out. its not like we will all leave a bit of btc on every unused wallet.

Russlenat

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I think this could not be happen because more company and wealthy private individual are investing bitcoin already and they can't afford to loose it.

odolvlobo

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Quote from: DoublerHunter on June 26, 2017, 12:43:05 AM

Bitcoin will run out if the miners will mined all the bitcoin that is available for the miners to mine and i'm sure after that maxed out bitcoins then the price will spike up because the only powerful in that time is the person who got a lot of bitcoin because he can dictate the price because of the amount of supply that he got but for sure it will take a lot of decades before we get to that point and it is not that easy for the miners to mine all the bitcoin because it needs strong computation.

No.

SHAWN-MIDWAYS

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I definitely think its impossible for bitcoins to run out because after the actual total supply of 21 bitcoins are mined it means value of each bitcoin will start to raise as supply becomes limited/constant and only then does its value start to raise to accommodate the raising demand of bitcoins

duranv

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According to what I've read Bitcoin is limited to 21 million Bitcoins, so if your question refers to when will there be a stop to the flow of Bitcoins via mining it will stop once 21 million have been mined.

Kakmakr

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The estimate is 2140 based on the block reward halving frequency of four years. According to math and knowledge that there are 32 halving events, in 2136, the block reward will yield 0.00000168 BTC per day, which is 0.00000042 BTC per block. That's 42 satoshis.

Ask yourself this question : Where will I be in 2140? < That might answer your question > ^smile^
Ask yourself this question : Will Bitcoin still be applicable then? < Technologies are replaced over time >

Zadicar

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Quote from: dquancey on June 25, 2017, 06:04:45 PM

In what sense?

Sure I saw that final bitcoin would be mined in year 2140, so quite some time.

Other than that, you'll need to expand on your question.

Maybe this answer does he really need which he do pertain on when does the last bitcoin supply would be mined since he doesnt mentioned even more and we didnt know on what would he actually mean. Please do elaborate more so that people wouldnt keep on guessing on the answer.

2140 would be still long to worried about when we do speak on bitcoin supply.

pooya87

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bitcoin is not paper money to degrade by usage or going from hand to hand. 1BTC will be the same 1BTC even if it goes from key to key a million times. and the only way bitcoin and be "destroyed" is if you either send it to a burn address or lose the private keys. and since this is not something that happens that often it won't lead to bitcoin running out.

Heyyyrenz

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I think it's impossible for the bitcoins to run out since there are a lot of miners out there working for bitcoins i think if that time comes, we're all dead already or maybe many generations may pass before it ends. So i think there's a low chance that the bitcoin will run out. While there's a miner the bitcoins will not going to run out

Eric Cartman

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Bitcoin will run while there is at least 1 miner mining.

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