Bitcoin Forum

Time is not on our side, 18.5 BTC has already been mined. So it means that only less than 2.5 million BTC is left for us to grab and accumulate overtime. So make the right choice, invest while there is still time, as there will be demand in the future because supply is getting short.

https://i.imgur.com/hCP8xFF.png
https://coinmarketcap.com/

Supply is getting shorter and shorter. It's great to see how many bitcoins miners have mined since 2009. I believe that satoshi would be proud to see that we continued his vision for so many years. The last 1 million coins will take decades to finish, so I think that mining ends on the 20 millionth coin. Many mining farms will shut down after halvings.

By the way this is how he imagined it on bitcoin.org (http://web.archive.org/web/20090303195936/http://bitcoin.org/):

supply itself is constantly increasing as each new block is introducing new coins into circulation. what is decreasing is the remaining coins out of the maximum possible 21 million.

I just realized that the the coinbase reward for each 4 year period (or ~210,000 blocks) before each halving corresponds with the percentage of the total supply that would be mined during that timeframe;

• From the Genesis block to the first halving, 50BTC was given for each block mined, and total of 210,000 blocks were confirmed, adding up to 10,500,000BTC before the next halving.
This summed up to 50% of the 21 millionBTC that would ever be in circulation.
• The next halving period produced 25% of the supply, and the next 12.5%. Hence, before the end of the current halving period, we would have added 6.25% to the total supply, totalling 93.75%.

As the flow of supply trickes down with each halving, I would expect the market value to increase, if demand remains the same or increases.

If bitcoins market value continues to increase, miners could still be earning similar or more rewards in fiat equivalent, despite the drop in number of bitcoins given for each block. There would also be likely improvements in mining hardware making it less cost effective and more rewarding.

I would not agree that time is not on our side, because each halving brings half the amount of newly mined BTC than has been the case in the past 4 years. If in the previous 4 years we had 1800 BTC mined per day, now we have only 900 BTC, which in case of high market demand naturally pushes the price up. Bitcoin cannot stay at such value levels forever to be a cheap investment - so wasn't 10+ years quite enough for anyone who wanted to invest below $10 000 or even below $1000?


It will not take any decades for the last 1 million BTC to be mined, it will happen in less than 10 years - and after 2032 there will be only 1% (210,000 BTC) left for the next 100 years. At the beginning of the next halving, the total amount mined will be 19 687 500 BTC, and at the end (year 2028) 20 343 750, which will mean that there is only a little more than 3% left.

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

Invest in what?Buying Bitcoins or buying mining hardware? ;D
Anyway,the expectations that the future demand for Bitcoins will explode are becoming somewhat naive.
In 2020,we had trillions of USD in stimulus packs,a global recession and Bitcoin halving,and yet the BTC demand didn't explode and the price didn't hit the moon.
You are wrong that only less than 2.5M BTC are left for us to grab.The crypto traders are selling thousands of Bitcoins every day,so there will be more opportunities to buy cheap Bitcoins and we don't have to rely on buying only freshly mined BTC.

Actually if we go by a technical reading you are actually wrong here. We don't buy bitcoin from some primary market when it's created. Alternatively, we buy the bitcoin which is already existing in the system. Even though yes as per the general models of supply demand, price could inflate a lot but this doesn't mean that investing in bitcoin would not be good after another halving. Instead it would get much better you might see much larger movements in price. Yes if you are talking about investing in Mining then it's completely different. But investment in buying bitcoin has absolutely no relationship. Its not that BTC 2.5 is there for grab existing BTC too moves in the market.

The current mining speed is very fast. Under the evolution of mining equipment, I think the rest of the bitcoins will be mined by 2050.
Even though Bitcoin is fully exploited, its potential to increase in price remains unknown.
Bitcoin derivatives like Margin, futures, and ETFs are created and people trade them. People will take profits when they make a profit. It can be as vicious as forex market exchange rates.

You forgot to add the unit mate, million.  :)
I'm glad that I know that I'm doing the right thing and I've chosen bitcoin to have a larger part for most of my investments. People don't realize that bitcoin is scarce.

I think 2050 is still early, also it will not be that easy. Don't forget that there are halvings every four years and it is said that these protocols could still change depending on what is happening but I think even without those protocols to be changed, it will still take many years before all of the bitcoins is mined. That would also means having good values as the times pass by.

Someone seems to be unaware of how the BTC algo works...
Speed of miners has NOTHING to do with when the last coin will be mined because difficulty is recalculated every about 2 weeks to keep AVERAGE time per block at 10 minutes. Unless the algo is changed that locks the date of last coin mined as sometime in 2140. Period.

To be fair though a steady increase in difficulty does imply block times of less than 10 minutes which is also why the recent halving moved up to May from the first halving in November 2012. So if subsequent halvings keep moving up a few weeks or months at a time, the last coin to be mined could already happen around 2136.

A far shot from 2050 of course, but those few seconds below 10 minutes do add up.

So many wallets as well with some satoshis left on it not enough to send somewhere else but are forgotten. This will only mean BTC will be rarer in time which price will also grow tremendously. The coins like 0.05BTC before were just worth $20 now worth $500. One day a person will really treat his 0.05BTC as his most prized possession and we're lucky to have more than that amount.

As long as the demand for bitcoin will continue to grow then it will be wise if we will start to invest now while there is still time as bitcoin prices will surely to skyrocket in the following years as we are very near in mining all the bitcoin out there.

I will just hope that bitcoin price will not go in opposite direction once all the bitcoin will be mined so there will be hope for the investors that they can earn a good amount of profit from their investment.

I'm not seeing it going on the opposite direction in the next years to come. If there is a chance, then it should be in its first five years. It's just a question of what will be the next all time high after this year's halving and when it's going to be burst, then the cycle repeats itself.

And with companies like MicroStrategy starting to buy and hoard BTC, it will be obvious that the demand will skyrocketed in the following years as more people are going to realised how valuable it will be.

A fix supply of 21 million and accessible marketplace could easily blow up the price. Im accumulating as much as i can right now and buying the dips because at any moment it can easily take off. Especially when there are tons of movement from big companies including Fidelity, and even we got our first ETF. Institutional money is gonna flow while the stock market is plunging.

Keep on holding bitcoin because the best price is yet to come considering that bitcoin have a limited supply, the price will go up higher when the demand increases. In the next 5 years the price of bitcoin will be different, people will use bitcoin on its high price, I’m wondering to see that situation soon, bitcoin is the best.

Someone will probably fork bitcoin and the majority will move to that seeing as there will be new coins to be generated.

The 10-minute time is only relative to the random difficulty of the algorithm that blocks are mined for.
With the speed of development of mining equipment being enhanced more, using less energy and mining more efficiently, Bitcoin mining becomes faster. The time for the Halving is fixed for 4 years so I believe my argument may be correct.

That's what keeps the current price of bitcoin holding up and doesn't want to go below $ 10k, we all see it continues to be above $ 10k, so a very small supply will probably get people to take their tickets to go with the people currently inside Big train, yesterday's bitcoin halving put less bitcoin in the print

someone is always forking bitcoin and creating new shitcoins (many of which had bigger supplies) but i don't think the majority would ever go to such a chain specially in the future that the adoption has already grown and majority would mean millions instead of the current hundred thousand.
the "controlled supply" is a principle of bitcoin that attracts most people. if we start modifying the supply the difference between bitcoin and fiat gets smaller.

There's a limit of 21 million bitcoin which means 3 million are left, I believe it will take more than 5 years to mine.
The fact that most of the people have lost their private keys or have passed on without leaving their private key guidelines to anyone, the measure of accessible bitcoin available for use could be millions less.
However, the price and the supply will be increase after that

I was also curious to know how much time is left to mine the last bitcoin.
88% of all Bitcoin is good progress. There has been good work by the miners and the community all together.

If the supply was getting squeezed, then we would be witnessing a sharp increase in the exchange rates. That hasn't happened. The supply is still close to the previous level (i.e the one we had before block reward halving in May 2020), because someone is still dumping BTC in the market. Or it may be due to the lack of demand. I would say that the first scenario (dumping) is having a higher probability.

That's right, someone will always try to present their version of BTC as something better than the original - but as far as I know (maybe I'm wrong) most previous BTC forks have not changed the total supply, and they failed in their intention (except that some of their creators enriched). While human greed should never be overlooked, it’s hard for me to accept that most would start following some alternative chain if someone promised them another let's say 21 million of new alternative Bitcoin.

Bitcoin is pretty good at keeping its average block time around 10 minutes. Moving the last coin mined from 2140 to 2050 would require the average block time to be reduced to 2.5 minutes, consistently, for the next 30 years. To put that much consistent pressure on the network would require technological leaps like the transition from classical to quantum computing every other month, with miners being forced to buy new hardware every other week. Humanity will become a Kardashev Type III civilization before that happens.

For reference, Bitcoin grew from a handful of CPUs to a global network of ASICs at industrial scale within a decade and the average block time still barely budged from the average block time of 10 minutes.

Precisely. Too bad some folks just do not seem to understand that point and think that future Majik Machines will be popping blocks like making popcorn  ::)

totally agree. Its a fairy tale the number of total coins is set in stone.

Apart from that. This stupid Stock to flow prognostic of a high bitcoin price forget that 18.5 Million of coins (ok lets say 15 Mio) can be fload on the market every single secound

you are correct, most of them focus on things that are hyped up such as block size, block time, CPU mineability, ... and rarely focus on things such as supply. but there still are many that have also changed the supply. some examples of these shitcoins are: Micro Bitcoin (1000x), Classic Bitcoin (1000x), Bitcoin Smart (100x), BitcoinBoy (100x), BitcoinX (10000x), Bitcoin World (10000x), Bitcore (0.5x), ...

Out of all these, I have heard only about Bitcore. But I am not sure whether it was 0.5x. I remember taking part in the Bitcore airdrop many years ago. If I am not wrong, I received 1x coins (i.e one BTX for every BTC in my wallet). 2-3 years ago, they had a popular signature campaign here in Bitcointalk as well. But the value went down steeply after 2018. At one point, BTX had an exchange rate of BTC0.002. Now it is BTC0.000019, which represents a decline of more than 99%.

It's strange a bit that 88% of all Bitcoin were mined in 11 years. And now we have more than a century to mine rest 12%.

There are 21 Million Bitcoin

as of Block 646,800,  88.0% of all btc has been mined. Only 2,520,000 BTC Left to mine! ( Source from Twitter Account Bitcoin Block Bot )

When All Btc Are Mined as there are no more Bitcoins to be Created, BTC Miners will no Longer be able to receive block rewards, which means BTC Miners Will Only Benefit From The Transaction fees to be earned from each confirmed transaction.

It's amazing what ideas come to people's minds when it comes to money, so while some may have just wanted to try out what it's like to have your own coin, some have caused quite a bit of confusion in the market in one short time. What the bad guys with BCH did was probably the closest thing a copy would ever get to the original - and maybe it was a good test and a warning to others to give up serious intentions to bring down Bitcoin.

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Satoshi had good reasons to do just that and not the other way around - and if you go back to the beginning of this thread and read my post, then you will find out that in the next ten years 99% of all BTC will be mined - and that one percent will stretch over the next 100+ years. A lot of things are marked with number 21, the total supply is 21 million, the number of blocks between halving is 210 000 and 1% of total supply is 210 000.

It means that in the near future Fee Reward will constitute for the majority of the mining output. For the 2020-24 period, Block Reward is 6.25 BTC and right now Free Reward is only around 10-15% of the mining output. For the 2024-28 period, this may increase to 20-30%. I am taking a conservative estimate here, because as the user base increases, we can expect the Free Reward to go up. 

The mining speed will get longer as the supply of bitcoin that anyone can mine is depleting. Remember that we still have year 2140 before the last block can be mined and that block will be mined for more than 40 years. Yes the supply will run out but by the time that happens, a market that is perfect for cryptocurrency transactions is already established and the price is stable, though this is just a wishful thinking, the possibility will be endless.

We are still a 120 years away from it, all bitcoins will set to be mined at year 2140 we still have a long way to accumulate bitcoins.

It isn't strange at all. Bitcoin was designed to be like this the less the coins to be mined the longer it would take to get mined surely Satoshi had a reason for this but it's a great work indeed on his side.

Even if BTC mining is completed today, that would not mean that trading would no longer exist and that someone could no longer accumulate BTC. Even today with 6.25 BTC per block the total amount created in one month is 27 000 BTC which is very little if we take into account that there are over 18.5 million coins in circulation.

It is very important that everyone understands the moment we are in and looks at what happened 5 or 10 years ago - so that we can try to conclude what will happen in the next 5-10 years. Of course, there is no guarantee that the past will be repeated, but it seems to me that in a few years people will regret not investing today, just as some today lament the days when BTC could be bought for a few tens of dollars or maybe a few hundred $ back in 2015/16.

That was already been studied by many people especially discussed on various documentaries regarding bitcoin revolution. Some interviewee said that it will not be the price that will dictate how good bitcoin is, but the volume of market capitalization. They didn't actually aim for 100k BTC each, but to hope for the marketcap to reach 1 trillion.

For me, bitcoin will be more reliable and better if we based our trust to the market cap. The more people use it, the more it will stay in the market. Unlike the price that could be a bubble and is always subjected to volatility.

People today have two ways when approaching bitcoin:

• 1. Already a bitcoiner BTC- Keep on accumulating sats, find jobs that pay in btc, work for btc, sell goods/services for btc and so on. Ultimately, become a a master in keys/wallets management and don't leave anything behind as you might want to pass your btc wealth to your family members (or your cat, for what it's worth, I am not here to judge)  ;D
• 2. Nocoiner, shitcoiner - First of all, unload your shit bag and go back to btc. Then follow point 1.

The road is paved for btc to succeed, so don't be left behind.

18.5 million BTC is already mined so basically there is still 2.5m are left, it takes years before it is all mine, and for sure if that will happen the price of the bitcoin will increase and the demand as well if that is the case the transaction fees will also increase. It is still good for us to invest as much as we can so we will earn a lot of money in the future. You will waste the opportunity if you waste this time to invest, it is better if you already have a good investment as early as you can.

It is better than the shitcoins, which usually have a premine of anywhere from 25% to 75%. Bitcoin never had a pre-mine and it's inventor (Satoshi Nakamoto) never benefited from it. The decreasing mining reward was introduced, in order to encourage Bitcoin mining in the early period. Without it, the hash rate would have gone below sustainable levels.

Only 12% of bitcoins have not yet been mined

According to CoinMarketCap, the total number of bitcoins mined has crossed the 18.5 million mark. This means that 88% of all bitcoins that will be in circulation to date have been mined.

The first bitcoin block to be used as a "Genesis block" was extracted on January 3, 2009 by Satoshi Nakamoto, the creator of the world's largest cryptocurrency. The final block of Bitcoin is expected to be extracted earlier than 2140.
 
120year wowww

2.5million BTC is still a long time to mine. Maybe we can't make it in 5 years, 10 years? because the more we got into closer the harder it takes to mined. Mining machines upgrade, fees increase, all of these changes will soon to rise as expected.

have the question in mind. What happens to the price if we all get mined the 21million BTC? Does it make the market less volatile?
It was an off-topic but wanting to know also what well happens next.

What is the connection between the time isn't our side and the total amount of Bitcoin that has been mined??

The Bitcoins that are already been mined will circulate anyway so I don't see any problem here. Demand in the future?? Maybe if there are many who will accept it but the supply? I can't say that it getting shorter since it is still the same 21M. People can accumulate anytime they want and they can hold anytime they want. Its their decision in the end.

The price would still increase over time but miner profit would begin to come from primarily transactions.

Less than 2.5 Million  bitcoins are left  for us to grab, in mining section.After finishing  this process, bitcoin will  have a limit of course.A lot of crypto sellers are selling bitcoin but the price will increase for sure.Because the BTC supply is getting short.So crypto seller will take advantage and this is a simple business strategy. Bitcoin is demandful and this will be the time when it will hit the moon.investing in mining or holding bitcoin can be a great use of observation.

The bitcoin mining process rewards miners with a chunk of bitcoin upon successful verification of a block. This process adapts over time. When bitcoin first launched, the reward was 50 bitcoin. In 2012, it halved to 25 bitcoin. In 2016, it halved again to 12.5 bitcoin. On May 11 2020, the reward halved again to 6.25 bitcoin.

The reward will continue to halve every four years until the final bitcoin has been mined. In actuality, the final bitcoin is unlikely to be mined until around the year 2140. However, it's possible the bitcoin network protocol will be changed between now and then.

source (https://www.investopedia.com/tech/what-happens-bitcoin-after-21-million-mined/#:~:text=In%20actuality%2C%20the%20final%20bitcoin,changed%20between%20now%20and%20then.)

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At least it will take more than 100 years for the last BTC to be mined. Correct me if I wrong

Well, while the supply will theoretically be fixed at 21M coins, there are a lot of them that have already been lost and a few people are losing their coins every day. I think it's quite realistic that, within a century, at least half of the Bitcoin supply in circulation will be gone.

As calculated, we aren't alive in the process if all 2.5million BTC will be mined, so why worry? We should be worrying on how to hodl more Bitcoin while we are still alive or how would you gain a profit or master at least the trading strategy that you could pass to your own children in the future if they are interested in trading of crypto currency. It's expected that the price would soar high in the future while the amount of Bitcoin we get would get smaller and smaller.

That's quite obvious isn't it. As the supply will decrease the demand will increase and that will make bitcoin's price pump.
Even if the demand does not increase the number of bitcoins in circulation will be limited and so the price is expected to pump as years pass by.
This is why many traders say that bitcoin will be worth a lot more in future.

I made my Crypto money with smaller coins, the BTC price will be maximum ATH for next  years