Bitcoin Forum

We are getting closer and closer to reaching 17 million Bitcoins in circulation. It will take a lot of time till next milestone of 18 million coins so I decided to eternalize the moment.

I played with some numbers from https://blockchain.info/charts/total-bitcoins?timespan=30days and I predict that there will be 17,000,000 Bitcoins in circulation on:

Wednesday April 25, 2018 08:40:38 (am) UTC time (forum time) (Unix time=1524645638 (https://www.epochconverter.com/timezones?q=1524645638&tz=UTC))

Let's see how accurate is my prediction :)

Well it does not matter if your prediction will be realized or not in the certain you hope for it to occur. But the reality remains the same that eventually bitcoin will reach that Seventeen Million Supply in circulation. This does not matter if that happens this month or next month but the only thing we cannot deny is that it will really reach 17 million bitcoins this year.

It's very close to 17 million so I can guarantee you that is will happen tomorrow! I will probably miss exact time because there are block rewards and all that so it's difficult to get exact time correct.
But it WILL happen tomorrow.

There are ~ 16,996,900 bitcoins mined.
Each day on average there are more 1800 getting mined.
It's going to happen ~ 42 hours from the moment I'm writing this and it's NOT going to be tomorrow.

How did you calculate that date?

Apparently soon all bitcoin will be obtained, and either the price will go up strongly, or something terrible will happen with bitcoin

Where did you get that data? I think coinmarketcap.com does not have live data. I think we already reached 17 million in circulation, but I can't find live data on blockchain.info, there is only info for yesterday at 2:00 am and tomorrow there will be info for today at 2 am and it will be ~600 coins less than 17m so we will/have already reached 17m :)

so?who cares about if the circulating bitcoins turns 17,000,000?as if it does matter to all of us,why people nowadays in this forum becomes nonsense everyday,posting topics as if we really cares.do some functionality,and not this kind of thread..

Even if we reach 17,000,000 still we are long way to complete that 21,000,000 bitcoins because the more coins are mind is the more harder will it takes to get another

I think it is nice to in some way mark a moment when 17 million BTC will be mined,for some users it has no significance(what they have shown with their comments).

I think your timing is not 100% accurately because that time is passed and by the data I have found we are still short for 1800BTC and for roughly 24 more hours.For users who like to monitor data in real time use this site : BitcoinTicker/NetworkStats (http://bitcointicker.co/networkstats/)

I didn't get the data from blockchain or coinmarket cap.
My approximation was based on 17 000 000 - (10500000 (coins mined at 50 reward) + 5 250 000 (coins at 25)) /12.5 (current reward) = 100 000 blocks after the last laving.
So the block that will mine the 17 million coin will be block 210000+210000+100000, block 520 000.
Since we're at block 519894 we're still short 106*12.5 coins :D.

Total circulation that will surely be achieved in this year. I hope this year is also offset by a high volatility increase as well to push the bitcoin price up so we can smile back to December last year.

It must be assumed that by this time 17 million bitcoins have already been mined, or it will happen in a matter of hours. However, it can not be said that all 17 million are in circulation. It is estimated that about six million bitcoins have already lost access and this figure will only increase with time.

If all 21 million bitcoins are mined, nothing substantial will happen. Everything will remain the same. Some believe that after this bitcoin will grow in price, as the supply will be limited. This is not true. The market will operate in the same mode and large batches of bitcoins will also be thrown at it periodically.

rtigth now we are on 16997525 XD
There are still many bitcoins minable and i think its good that we still can mnine about 4 million btc.
and we will see what then happens ;)


regards

Only another 122 years to go. Not long now.

LOL,it would take forever to mine those remaining bitcoins.Which is why its value is increasing expotentially from time to time because the mining difficulty is getting higher as we are getting closer to 17million circulating supply.Most of the supply of bitcoin are lost to somewhere else,bitcoin's supply isnt that accurate because if it does its value wont fluctuate as what we have experienced.

So afterwards there will still be 4million left. It is nice to see that bitcoin is this valuable even with 4m left to mine.

With that, miners will still be coming or those who are already doing it will keep on.
We will be seeing a lot of changes with its value once it goes to an amount where we can say it is getting instinct. ;D

There are 21M of bitcoins and17M of it are just mined. No matter when it will happen (this year), we cannot stop the way bitcoins mined. Bitcoin destined to be mined, used and circulate in our economy.
Way back 2009 when the first bitcoins were mine and right now, almost 17M were already curculated in the world. Only 4M left in the supply and I think it will become difficult for the miners of BTC to mine in the next years.

We are getting very very close!! An exciting time for sure. I'm actually surprised we haven't passed this milestone already, considering that poeple think we will mine the last bitcoin ever in 2018

Nope, mining of bitcoin will not last forever due to the fact that it has limited supply only. Imagine, bitcoin has 21M supply and 17M are getting mined right now. Even the mining difficulty will become harder, it is not impossible to mine those 4M left in the next years. But the last bitcoin will mine in 2140, 122 years from and I think it is our not a problem anymore.

You willl need 120+ years to mine the remaining bitcoins which is why it wont be a problem for most of the people because that time we are all dead ,which is why it doesnt matter as of the moment.What matters is how we can get as many bitcoins as we can as bitcoin's value is getting more and more valuable as we speak.

I think you got it wrong already:

16,999,025 BTC  as per coinmarketcap and its about the end of April 25 UTC already.

Maybe tomorrow we are going to hit this milestones. But I'm too lazy to make any computations but I'm pretty sure that in the next couple of hours that 17 millions will be reached. Sometimes we really needed this kind of thread to give us some light moments as everyone is really on their heels specially in the last 4 months or so.  ;D

In my opinion when we get to 21 million (and it will take time) the btc will become the refuge currency and its price will be very high.

An interesting figure and really not considered often enough. Less than ten years in and already over 80% of coins have been mined. All those epic price peaks happened while thousands of new coins were arriving every day.

As daily production dwindles, demand continues to rise and the vast majority of coins will have to be prised out of someone who already paid for them. That's a very different dynamic to a miner with a mountain of costs to meet every month.

In a couple of decades we won't be too far off effective deflation, the amount of new coins arriving will be a piddling amount even with another century to go. That might blow all future price predictions out of the water.

it will be a little higher than block 520,000 because of the truly lost coins. i don't know how many of them have happened so far but i know of two cases:
12.5BTC on block 501726 https://blockchain.info/tx/9bf8853b3a823bbfa1e54017ae11a9e1f4d08a854dcce9f24e08114f2c921182
1 satoshi + whatever the fees were on block 124724 https://blockchain.info/tx/5d80a29be1609db91658b401f85921a86ab4755969729b65257651bb9fd2c10d

so at least 12.50000001BTC will never be in circulation because it was never created (claimed by the miners finding the blocks)

I think we can now say that 17 million of BTC is mined and only 4 million is left,it may seem to much but it is not actually.Even though it will take more then 100 years to all BTC is mined,almost 99% will be mined by the year 2032.It's a big success that we have reached this point,although it may seem unimportant it is something what does not happen every day.It will take around 555 days from now to reach 18 millionBTC mined.

http://i67.tinypic.com/wh2ky.jpg

It would be fun to know how accurate you are in analyzing the possibilities of bitcoin being entirely used. But whatever it is that you have in mind may just happen or probably not at all because in reality the market is not controlled by one person alone, but by the entire world of users. So in this connection I would say that the coins will work in its way towards history very much unpredictable. But should you have guessed it accurately you will be the happiest person atleast in your terms. I would congratulate you for that. Goodluck.

Wow, your thread gave me some new information. I was not aware that we can know about the total bitcoins in circulation. Do you think it is possible to adjust coins being mined based on increased demand ?

so what is the result of this? because I wonder what is happen except I see the price is getting down under $9k but I see the price still trying to get back to $9k and I still waiting to see another highest price. we still too far to see 21 million is ended by mining and I wonder how much the bitcoin price when bitcoin reaches 21 million.

Well the 17th million btc has already been mined and slowly though surely we're inching in on the last btc. I'm also curious about the time when we have all 21million btcs circulating. Will the price be stable? Will it moon? Will it be the start of a crash? Though i think the latter is unlikely, i'm not really sure what'll happen then

Oh, I forgot about those, so basically ...less coins  ;D , less offer ...much moon sir  ;D ;D
I also remember now the FUD (although lightweight) about bitcoin being broken....

Anyhow , block 520001
https://blockchain.info/block-height/520001
was mined at    2018-04-26 10:52:54 (probably GMT???) so the op was wrong by one full day.
That is pretty bad, to be off one day when you think it's going to happen tomorrow...


What do you mean by that?
Bitcoin "entirely" used ????
But I guess I'll never find out... :'(

Good article (https://www.coindesk.com/17-millionth-bitcoin-mined-means-matters/) on this matter.
I'm linking this chart from the article because I think it's really interesting. It shows how number of bitcoins in existence will grow with time (block height in fact) and how inflation % will keep falling because of reward halving.
https://media.coindesk.com/uploads/2018/04/bashco-bitcoin-inflation-728x551.png

One thing I didn't know is that there will never be 21 million Bitcoin, but slightly less.

That mean there still 4 million that will be added to make the 21 million,and what than will be the price of bitcoin at that time ,we only have to watch and see ourselves.

wow that was amazing and when seeing it it so near in 17 million circulation, i think i will help it a little bit, lol
and also i realize right now that are many user are using bitcoin right now

To be honest These are really crazy numbers .since its beggining we are proud of seeing these numbers.

Hopefully the prediction is right, as expected. Thank you for sharing the story, very helpful especially me who is new to Bitcoin and most importantly remain optimistic and spirit.

Since the emergence of Bitcoin, 17 million have been provided so far. We all know Bitcoin will supply the highest 21 million. So much of the time we are getting closer to the highest point of supply of Bitcoin. I think it is enough supply as per the requirement.

We are now back at the $9K levels. The movement of the price has no correlation on the 17 million already mine. But again, sometimes we need to see as this is another milestone for all of us as 17 mllions are already in circulation which make bitcoin supply getting thinner. Yeah, it really exciting to see what will be the price when all the coins are mined, I guess above $100K would be good enough for me.  ;D