Bitcoin Forum

Many people are scared that the price of bitcoin can never rise above 15k again but i disagree with this. The total number of bitcoin is 21M and currently about 16.9M has been mined already. Don't forget that, currently some online marketing platforms (Amazon & Ebay), institutions (UNICEF) now accept bitcoin as another mode of payment aside Electronic payment and fiat currency. The demand of bitcoin will increase with time as more institutions decide to embrace cryptocurrencies(bitcoin) as a payment method. As the demand starts to increase then you can be rest assured that the value of bitcoin will also increase. This is the future folks, don't be scared by the trend of the market and sell cheap because Green days are coming!

The law of supply and demand. Since bitcoin has a supply limit and mining difficulty, no doubt that its value due to its scarcity will surely increase. We just have to wait for that moment to come and enjoy our profits.

Don't feel forced to use CAPS in all your title. it's horrible and on a forum, to use CAPS, it means shouting and usually people hate caps

Those people who are scared on investing in this technology doesnt have any idea about what is the purpose of this invention "the one who dont read" and they just want to be a part of this to earn income without studying the situation most of them are the one who always "brag" everytime the price falls down.

Since when did Amazon & eBay accepted bitcoin?

Also, while I think the prices will indeed rise, bitcoin being more scarce isn't itself going to rise the price. Without much buyers and a lot sellers, bitcoin will still continue to drop or be stable in price. Supply is not the only thing that's important here. It's still both supply and demand.

Okay, let say, cryptomarket also has this supply-and-demand-economical season. In that season, by the time that the total supply has been mined then Bitcoin will become a rare thing, and it might help the monetary value to go up.

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But I think, not just this supply-and-demand rule matters, what matters the most here is the mass adoption. Just like what you have said, some famous platforms and even institutions are  now accepting Bitcoin. After being accepted by those big entities and more soon, then surely, the price will rise.

While you are correct in your assessment it seems that you forgot that is going to take more than one century for all bitcoins to be mined, and it's very unlikely that any of us is going to be around by that time, however as bitcoin becomes more difficult to mine and more bitcoin is lost because people forget the password to their wallets we're going to see a decrease in the supply and that will make bitcoin even more valuable.

this part is correct, as demand increases the price goes up since the supply is capped. but your title is completely wrong. price and how it increases has nothing to do with when the whole 21 million will be mined. we may reach mass adoption in 2-3 years and price stops having major rises after that which is a long ways before the 21 million (just an example) or it can take 20 years or 50,...

a common misunderstanding these days is that people forget that it is called supply AND demand not just supply on its own.

Never. The same way as:


Currently is about 17,3M.

I take OP trying to get merit but he will just end up in some people’s ignore list. Like mine. Apart from the imprecisions, he is not telling anything new: we all know that if demand increases, as there is the 21M cap, bitcoin price will rise.

Yes,  that is the mean reason why we should be holding now.  A day will come when all the bitcoin will be mine and by then bitcoin will become one of the most expensive assets on earth.

It would be really difficult for miners when it reaches 21 million. I mean it will technically drop a lot more for them before that happens however when the amount gets little enough the amount of fee's will decide how many miners will still stay with bitcoin and how many will move on to something new.

I think when that happens bitcoin price will be free to do whatever it wants since there won't be any miners saying there are costs for it. This way bitcoin may go down or go up and we may see the price do anything it pleases, it won't mean it will go up. I think the proper meaning is that miners may start looking for other stuff to mine.

Miners are also in tension because their profit margin has reduced due to fall in the price. They are not interested in mining. If the price doesn’t increase it will be difficult to mine the whole 21 M bitcoin, and the other problem is that there are no or very less buyers in the market. If all bitcoin are mined and it finds no investors, the price may fall more.

Actually we don't really know how it all pans out.  And on the other hand there's an argument that miners living off fees alone won't be enough to support their farms causing the smaller miners to drop off leaving just the largest ones making it more centralized.

Anyway, I encourage you guys to look up XMR's tail emission which is another take on when block rewards run out.  But it's not just about having 'that something' for the miners when all the coins are mined, but striking that balance between the fees and (Monero's adaptive) block size.  

I hope that you do realize that with halvings it will take many more years before the last coin is mined out. It's estimated that in the year 2100 we will still be mining! While I'd like to be able to see this most of us, including me, will never be able to. Our generation of people born in the 80s and 90s will die before the year 2080. The revolution will have to happen much earlier and it will.

I think there is no limit for bitcoin to be mined. When we want that bitcoin will be the global currency in the future then mining process will also never end. It will continue till the end of the world like other paper currencies. I don’t believe that 21M is the last limit for bitcoin mining. Anyway if a company produce lot of items but there are no buyers in the market they cannot make any profit.

Last BTC should be mined somewhere around year 2140, but this is just information that we should not worry too much. More important thing is to know that almost 99% of all BTC will be mined around year 2032, so we can say that in some 14 years from now and even before we can expect very small amount of fresh mined coins on market. Considering halvings in years 2020/2024/2028/2032 we can expect that price will go up to a significant extent if demand increase over the years.

No one here will live that long. Or maybe few and by then they will not need much anyway.

On more serious note. Bitcoin will way earlier start having problems because of its low emission. I suspect soon after year 2040. But yes it is long time until then. So why worry about it now :P

I'm sorry to say this to you but that is the limit and that limit is never going to be increased, the developers are never going to propose it because they understand that the reason why bitcoin is so valuable is because it is scarce and if they change that then bitcoin is not going to be that much different from fiat currencies.

I wouldn't bank on this one, even though theoretically this somewhat holds truth if we are to follow the law of supply and demand. However, there isn't a clear vision of whether bitcoin will still be accepted til then, and whether we are still alive by then. There is a possibility that new coins and cryptocurrencies would overshadow bitcoin's achievements and people would choose those new ones due to what they can offer, and that already is a less on the demand. 2140 is still a hundred and twenty-two years from now, and while we're waiting for the last bitcoin to be mined, we should focus on the fundamentals, economy and infrastructure of bitcoin if we really want it to stay.

It will take a lifetime to mine all the remaining bitcoins so we shouldn't worry about the increasing supply, the population growth is a more deciding factor with more people going after bitcoin as both an investment and spendable currency

Sure there is that and I dont disagree exactly but also Im a cynic and dont believe in simple outcomes.    I would just say theres a feedback effect so people are aware of that final destination and to some extent its already accounted for within the current holding of BTC.

Believe me there is many holding from at least 2013 onwards just a little bit but enough over millions of users that it adds up to a fair chunk of BTC being held for this 'event' and this is also something celebrated in every halvening type change to the protocol where the block reward reduces.   That very much is a precursor of this final event and helps raise this ratio of supply to demand some.

My final take would be that the block reward does have a purpose of sorts to encourage the mining network.  Some of its coming from the price appreciation but also this time when there is no block reward brings a slight dilemma in that we then rely on just transaction fees.
It will be like learning to take off and the end of the runway is a cliff, lets hope the wind supports the wings :p

according to this website https://www.quora.com/When-will-the-last-Bitcoin-be-mined
the estimated all supply bitcoin will be mined is in 2136
so the question is, are we still alive at that time?  :D
but yeah at that time the block reward will yield 0.00000168 BTC per day and 0.00000042 BTC per block
so every satoshi will be very valuable later

I am also very optimistic that Bitcoin can get a bigger market share. There have been many companies and institutions that support the use of Bitcoin, although it is not too significant but this is a positive value that helps increase public confidence in Bitcoin. HOLD is a good choice, as we know that currently the price of Bitcoin is in a fairly cheap range so this is an opportunity to be able to buy a lot of Bitcoin and then we sell it much higher in the future.

Exactly, we really don't need to go and see the last bitcoin mine, because technically by 2032 we can say that 99% of it will be mine already so its obvious that as speculative asset we need to hold and buy cheap coins and just let it sit in our wallet for the next decade or so.

The OP should at least post a link about Unicef though.

https://news.bitcoin.com/unicef-france-accepts-donations-in-9-cryptocurrencies/
https://www.unicef.org.nz/donate-in-crypto

As for Amazon and Ebay, I'm sorry but OP is wrong because they're not accepting it as mode of payment but maybe we can see other companies starting to accept it in the near future but not today.

The problem regarding BTC quantity and last coin mined arises because of ignorance, year 2140 is so far away, and for us who live today this information is completely worthless. We have a year which is much closer and mostly achievable for everyone, so we need to focus on that. Many positive things will probably happen in the next 10-15 years, but we all know that law of supply&demand has a very big impact on the price.

If people know how close we are to the point when 99% of all BTC will be mined, they might look a little differently on the whole situation. I bet some 10 years from now people will discuss about cheap BTC back in 2018, same as we do today about 2010 or maybe 2014.