Bitcoin Forum

I have a question which I haven't found a good answer to will Bitcoin become worthless when there is 21 million Bitcoin in existence? If not why would they not because Bitcoin is worth as much as it is now because people want to invest to sell for more in the future when do we expect Bitcoin to reach 21 million.

Well think about it, if we finally reach 21 million coins, the amount of transactions going on in Bitcoin will be so much that it should easily pay for the network and keep miners active, in fact, depending on how many people participate you could say that the miners will end up being paid more this way through transaction fees than through just mining blocks. I don't think it will become worthless in the slightest, especially when you take into account the kind of age we live in, Gold and Silver just isn't practical at the moment with how easy it is for authorities to seize it and they have absolutely no respect for personal property or privacy.

No, why would it?


This. And you'll be dead when it does, so I wouldn't worry about it.

I thought I remember reading that we are expecting to hit 21 million Bitcoin in 2040 but won't Bitcoin lose a lot of interest when it does hit that amount I was under the impression Bitcoin was being driven by the media at the moment and the people who want to make a quick profit.

I believe that is 2140.



@OP
While those who wants to make a quick buck will create some ups and downs on the price, it is the general adoption of bitcoin that is interesting for the rest of us, and that should be a good old exponential curve in the longer run, due to the network effect.

Also, there is no technical reason why bitcoin should drop in price when we hit 21M. Just like gold didn't loose its value when the gold-rush was over

Oh maybe I did mis read that and maybe it ws 2140 I guess it isn't going to affect our generation the next question would be is Bitcoin going to be successful enough to proceed onto the next generation.

The fiat can also become worthless if nobody wants to use it. But usually there are people who do.

First, the answer to your question is no.

Second, there will never be 21 million in existence.  As a matter of fact, there will never even be 20,999,999.9769 in existence.


Because when there isn't very much of something, and people want that something, it INCREASES in value. This is how the law of supply and demand in economics works. For example:  There will never be more than one "real" Mona Lisa painting.  After that one painting was completed, did it become worthless?


Bitcoin is worth as much as it is right now because:

• There isn't very much of it
• The people who want it are willing to pay that much for it
• The people who have it are unwilling to sell it for less

How do any of those things change when all the bitcoins have been mined?


The exact date is impossible to know right now, but it will most likely be somewhere around the year 2104 (give or take a few years).  Note, as I mentioned earlier, we will never actually reach 21 million.  We will never actually even reach 20,999,999.9769.

thank you that explanation I think I have heard every thing I need to know now.

i hate it when people only see mining as the benefit of bitcoin.

the ignorance that businesses are making millions per month on consumer purchases is astounding
the ignorance that investers trading on exchanges is astounding
the ignorance that people earn a wage from bitcoin is astounding.

bitcoin is not about mining, much like fiat is not about the mint. people make more money through using it then creating it. and this will be more visable as time continues.

and lastly, worrying about something that is decades away purely to try and create FUD today, is astounding

Really its worthless??




HELP!

speculation comes first, usability and infrastructure comes after

people who claim the only reason bitcoin came up cuz of SR are bullshitting

it might of sped up the process however

Nope, because I will buy all of them at .000001/BTC

U will buy them?

Oh no, no no I'm scared no no no plz no help me plz


HEELPP!

I'm just saying that they will never become "worthless", save for some sort of mass duplication glitch.

It became worthless like 30 times o far so why wouldn't it again? :D

Good question ... well, I am tracking Shibetoshi Nakamoto Doge in 2015 to get better clues about it  ...

No, not worthless. As long there is a use for it, it will be worth something. The only problem is that this range is quite big. From a Bitcoin historical point of view somewhere between USD 0.001 to USD 1240. And it is constantly trying to find its real value....

Best reaction so far  :D
Just ride along the waves, and expect BTC to rise in the long term as it will be used and accepted.

Bitcoin won't be worthless soon. Just look at all the alt coins. They are basically worthelss and yet people are buying them.

Worthless? Probably not. Worth very little, as in.. 1BTC -> 50 McChickens or less? Yes.

I think it might end up even in cent range per coin.

The one group that will stay just occured to me. There is small hardcore group that will continue to use it even if the value plummets. Though there might be issue of available hashing capacity compared to value of currency, but someone is ready to pay that premium.

And from that group there is also part that moves to next improved coin. And the forks of used coin...


So not zero value, but near there...

I think it'll be even more money because scarcity will start!

I just imagine a lot of people will refuse to sell their $1000USD bitcoins for less than at $100 each. And the lower you go, say $25... is it even worth it? If you put a million dollars in at $1000, it would be 25,000 at $25. And of course, $1 = $1000. Would anyone even bother? It just seems unlikely for there to be enough selling pressure in the tens...

This will be in 2140. I am no prophet but I think until then we have better cryptocurrencies like Bitcoin. So the price could be near zero. On the other hand it is the first cryptocurrency, so there will always be people who want to have a few. I mean, it is like owning one of the first cars or cell phones.

But there is a possibilty, that Bitcoin is just one of maaaany new inventions and will never have its real break through. So if nobody will remember the coin 2140 or when it get broken, the price will be near zero. (but I think it will be never zero. But sub 1$ is possible).

Then they just keep holding those coins... There will still be some available.  It's unlikely though that they will invest more for ever. Just think of what people have done on stock market before...

They are a group who want to use it as currency not as investment. Probably group of early adopters who are likely on plus side at that point...

Unless an unforeseeable event kills it completely, Bitcoin should continue to grow more or less exponentially until its adoption starts tapering off.

Adoption is still at the very early adopter stage. More and more ATMs are opening worldwide every day and in many places more and more businesses are starting to accept BTC. Once people realize how much faster and easier it is to pay for things with BTC than with credit or debit cards or even cash, more people will start using Bitcoin on a day-to-day basis.

Some people here tend to treat Bitcoin strictly as a speculative or investment vehicle, but its real future is in payments and transfers.

No.