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Bitcoin => Bitcoin Discussion => Topic started by: katsuking on October 15, 2021, 10:07:58 AM



Title: What do you think will happen to the price when all the bitcoins are mined?
Post by: katsuking on October 15, 2021, 10:07:58 AM
The maximum number of bitcoins that can be issued is fixed.
Eighty percent of the coins have already been mined.
What do you think will happen to the price after all the bitcoins have been mined?
What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: BlackHatCoiner on October 15, 2021, 10:13:04 AM
Impossible to know what will happen to the price once they're all mined, which will happen in 2140, since I can't even predict the price of the next week. I can't even know for sure if:

  • Bitcoin will be demanded from at least one person.
  • USD will exist.
  • The Earth will be habitable.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: passwordnow on October 15, 2021, 10:41:37 AM
What do you think will happen to the price after all the bitcoins have been mined?
We won't be alive by that time, that's the reality if there are people in here that will still live by the time all bitcoins have been mined then he/she is a legend.

What do you think will happen to the price once all the bitcoins are mined
Having that guess that all bitcoins have been mined and there's no new digital asset that has surpassed it then the price of bitcoin by that time is likely more than a million and that's for sure.

and how do you think bitcoin will affect the global economy?
It's like gold that many don't want to spend and just keep it as a store of value so yeah, not that much difference from today's usage.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Ucy on October 15, 2021, 10:50:27 AM
The maximum number of bitcoins that can be issued is fixed.
Eighty percent of the coins have already been mined.
What do you think will happen to the price after all the bitcoins have been mined?
What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?


The price will largely depend on how strong the demand for Bitcoin will be and the supply. If demand remains high with limited supply, it would go up... this's on the basis that no one is able to manipulate the price too much and Bitcoin remains decentralized.

So Bitcoin will need to keep doing the right things in order to continue to create demand after 21million, without compromising on its principles/ideals. End of the mining reward won't guarantee scarcity and price increase if there isn't enough demand for Bitcoin


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: avikz on October 15, 2021, 10:53:58 AM
The maximum number of bitcoins that can be issued is fixed.
Eighty percent of the coins have already been mined.
What do you think will happen to the price after all the bitcoins have been mined?
What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?

A very simple logic you can apply. Since bitcoin has a limited supply and it can't be increased, the price will definitely increase if the demand stays strong. It's impossible to say how much will be the price but that will not be at the same level what we are seeing today.

Also looking at the crypto adoption, we can safely say that the global economy will also be impacted in a positive way because we will have a new segment of wealthy people - crypto millionaires.

Basically it's a bit of a speculation we are doing here, but it's no harm to assume that bitcoin price will skyrocket and if we don't start accumulating right away, we may miss the opportunity!


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Leviathan.007 on October 15, 2021, 11:03:01 AM
Firstly, there are some different theories regardig 2140 and what going to happen to bitcoin and bitcoin miners, so we can not make sure about this year and bitcoin. Also, We can not even predict one hours later so we can not do any predictions about 2140 which is more than 100 years later, all we know is the market will exist and there will be still people buying and selling assets and there will be still governments and fiat money. Also, we will see new technologies and during this long time bitcoin can do many adoptions depending on the world situation.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Poker Player on October 15, 2021, 11:13:16 AM
Impossible to know what will happen to the price once they're all mined, which will happen in 2140, since I can't even predict the price of the next week. I can't even know for sure if:

  • Bitcoin will be demanded from at least one person.
  • USD will exist.
  • The Earth will be habitable.

Yes, I'm not worried about what will happen long after I'm dead, and besides, it's one thing I can't control. They are so many variables.

Apart from that, it's hard enough to accurately predict what will happen in a cycle or two as to play Jules Verne with Bitcoin, lol.




Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: TheNineClub on October 15, 2021, 11:39:47 AM
I am having a hard time believing that Bitcoin is the be all end all of crypto. Bitcoin was the first, but should also be considered a stepping stone towards a more diversified and decentralized crypto ecosystem. So 100 years from now Bitcoin could very well still be a thing, but not such an important thing as it is now, and when tall gets mined, well, not much will happen. The price might go up a bit because of it being a limited commodity, but nothing more than that.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: LimLims on October 15, 2021, 12:09:28 PM
The maximum number of bitcoins that can be issued is fixed.
Eighty percent of the coins have already been mined.
What do you think will happen to the price after all the bitcoins have been mined?
What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?

It’s an interesting topic to be discussed.
Actually many haven’t thought of this actually, as it’s really hard to mine all the Bitcoins.
But yes as we are here to discuss theoretically, then let’s do it.
As Bitcoin follows the trend of supply and demand, so as the coins supply will be low or almost 0, then the price will become too high.
The one person who has mined all the BTCs will become the world’s richest person.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: mk4 on October 15, 2021, 01:21:40 PM
At some point the amount of coins being mined would be really low that we would already feel the market effects even before 99.99% gets mined, so I'd think that there wouldn't be an effect besides the potential FOMO from news headlines.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: aprilnot on October 15, 2021, 01:41:27 PM
The maximum number of bitcoins that can be issued is fixed.
Eighty percent of the coins have already been mined.
What do you think will happen to the price after all the bitcoins have been mined?
What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?

I don't know what will happen after all bitcoins are mined. but one thing is for sure bitcoin mining will never stop. because without them, the block will not be confirmed. maybe there will be very little reward that will be generated because every time the halving, bitcoin will deduct half of the reward. this will increase the difficulty.

judging from all that, one possibility is that the price of bitcoin will rise. but this is only one possibility, of the many possibilities that will occur in the future. or it could be that the bitcoin hype is fading, often increasing mining difficulty and decreasing rewards. for the problem of its influence on the global economy, perhaps seen from the level of adoption. if the adoption rate goes very fast, this will have a big impact.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Zilon on October 15, 2021, 01:49:22 PM
The maximum number of bitcoins that can be issued is fixed.
Eighty percent of the coins have already been mined.
What do you think will happen to the price after all the bitcoins have been mined?
What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?
Just 8% of Bitcoin is already mined from 2009 till date which is a clear picture that we all wouldn't be alive to witness the last mining block of Bitcoin and as such no one can really say for sure what could happen by then. But for sure there would be skyrocketed inflation in price but to what extent is beyond any analyst to speculate because bits still too early for this


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Bitcoin_Arena on October 15, 2021, 11:09:28 PM
Just 8% of Bitcoin is already mined from 2009 till date
Did you really mean 8% or It was a typing error?

which is a clear picture that we all wouldn't be alive to witness the last mining block of Bitcoin
By the way, if the last Bitcoin block reward was issued, It doesn't mean that would be the last block to be mined on the Bitcoin network. Confirmation of blocks would continue only that miners would rely on the total transaction fees for all transaction in each mined block as incentives to them for mining


OP read this:
https://www.investopedia.com/tech/what-happens-bitcoin-after-21-million-mined/


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: ultrloa on October 15, 2021, 11:55:48 PM
The maximum number of bitcoins that can be issued is fixed.
Eighty percent of the coins have already been mined.
What do you think will happen to the price after all the bitcoins have been mined?
What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?

We don't know on what will actually happen unto that since we don't see the scenario happened yet, But I guess before that to happen for sure we can see the adoption increase and maybe we can see it reach to rich up to the poorest country in the world. And provably if we cannot see stable we can see high prices of it since the supply will became limited compare to the all the supply is not mined yet.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: yhiaali3 on October 16, 2021, 12:43:26 AM
The price of Bitcoin will certainly reach unprecedented levels before, it may reach numbers that we cannot imagine now, at that time Bitcoin will become rarer than gold because it can not be mined anymore, but gold is still possible to mine, so Bitcoin will become rare and its price will reach very large numbers that may exceed Millions, a bitcoin to this price will help stabilize the network because when mining stops, fees are the only way for miners to stay in business to keep the network going.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: dupee419 on October 16, 2021, 04:53:54 AM
If all of the bitcoins have been mined, the price of a single Bitcoin will probably be valued over 6 digits or even 7 based on USD, if that happens, there's really no point in holding, a lot will take profit from here and will definitely sell due to FOMO, although this situation is unlikely to happen, it'd be fun to at least have an idea if this ever occurs.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: pooya87 on October 16, 2021, 05:43:19 AM
In a 100 years from now bitcoin is either long dead or mass adopted in which case it either has 0 price or is worth above $10 million and the price would be stable after reaching mass adoption instead of fluctuating by any dumb news such as "last satoshi mined" specially since halving by then would decrease the block reward by a very small amount.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Oshosondy on October 16, 2021, 07:27:28 AM
Impossible to know what will happen to the price once they're all mined, which will happen in 2140, since I can't even predict the price of the next week. I can't even know for sure if:
If the world haven't changed about bitcoin, the price will be worth over $1 million by that time, ATH is constant, it will be achieved and achieved over and over time. This definitely means the adoption will increase more and more.

  • Bitcoin will be demanded from at least one person.
  • USD will exist.
  • The Earth will be habitable.
This should likely be what exactly could happen, more people will demand for bitcoin, but let us not forget, the price of dollar will be reduced by the USA government which will make bitcoin more valuable.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Hippocrypto on October 16, 2021, 08:07:13 AM
The maximum number of bitcoins that can be issued is fixed.
Eighty percent of the coins have already been mined.
What do you think will happen to the price after all the bitcoins have been mined?
What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?

Global economy will still become stronger because there's a lot of support pillars which trades Bitcoin along with usdt. There's a possibility that btc price will become more in demand after 10 years but thinking of mining everything , well that's not possible for single person. Probably for different anonymous individuals that had a capabilities to do it.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: kryptqnick on October 16, 2021, 08:54:06 AM
The maximum number of bitcoins that can be issued is fixed.
Eighty percent of the coins have already been mined.
What do you think will happen to the price after all the bitcoins have been mined?
What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?
Honestly, I'm not sure Bitcoin will still be relevant by then. I believe in Bitcoin now, but it's just that our world is changing extremely fast, and even in 50 years some radical change in technologies might happen that will make everything we use and value now (PCs, smartphones, the Internet, cryptos) obsolete. There's also a fairly good chance that 100 years from now we'll see a breakthrough in quantum computing, and this will make cryptography as we know it obsolete. Apart from that, tensions are rising in various regions of the world, not to mention the climate change crisis which is already starting, so perhaps in a 100 years people will be devastated by rising water levels, tons of hurricanes and tsunamis, relocations and wars, and in that world perhaps barter would be way more common than using any currencies. If all of this doesn't happen, and humanity stays relatively alright, I think that once everything's mined, it will only continue to rise in price.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: dothebeats on October 16, 2021, 09:09:34 AM
You're zooming in to 119 years from now. Even the most experienced traders can't predict what will happen to the price in the next few weeks, what more about 11 decades ahead? If the superpowers of this world decided not to go into wars, and if the earth remains habitable by then, most probably bitcoin will already be replaced by something else. Or if it ever managed to stand the test of time, it will surely be an extremely valuable asset to everyone that its value cannot be gauged so easily.

Hard to know what happens years from now if we can't even know what happens tomorrow.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: BlackHatCoiner on October 16, 2021, 12:45:51 PM
If the world haven't changed about bitcoin
What do you mean, if the world hasn't changed about bitcoin? How can this happen? The world continuously changes.

the price will be worth over $1 million by that time
Again, you can't know many factors that affect the price. I find it highly likely to exceed the $1M until 2140, but that's just speculation.

This definitely means the adoption will increase more and more.
Rising price doesn't mean that the adoption increases. The federal reserve can print a trillion of dollars and increase the exchange rate of BTC/USD, but the adoption remains the same.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Ozero on October 16, 2021, 01:42:25 PM
I do not think that the price of bitcoin will depend on whether it is mined in full or not. And we will not know it, it will be only in about 120 years. By that time, a lot of things are bound to change. We do not even know yet what the cryptocurrency will be, if at all, and what bitcoin will be like. Over time, bitcoins also continue to be lost for various reasons, access to them is terminated and this will also affect its price.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Kakmakr on October 16, 2021, 01:49:33 PM
By the time that happens, all of us will be dead.... so we should not be worried about that. I seriously think people are making issues of things that will not affect them in any way.

The other thing is..... Bitcoin might not even be around by then, simply because it will be replaced by a much better technology. We already have thousands of Alt coins that are better than Bitcoin in some features.... so how many of the newer Alt coins will be much better... 10 or 20 years from now.  ::)


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Oshosondy on October 16, 2021, 02:00:12 PM
Rising price doesn't mean that the adoption increases. The federal reserve can print a trillion of dollars and increase the exchange rate of BTC/USD, but the adoption remains the same.
I also included this in my above post, that is one thing about dollar and fiat generally, people that are using bitcoin for now are not that much if compared to the total population in the world, that will make the adoption to increase, increase in the adoption will have positive effect that will lead to price rise, but dollar too will reduce value which will contribute to bitcoin price increase.

This should likely be what exactly could happen, more people will demand for bitcoin, but let us not forget, the price of dollar will be reduced by the USA government which will make bitcoin more valuable.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Mahanton on October 16, 2021, 03:32:52 PM
The maximum number of bitcoins that can be issued is fixed.
Eighty percent of the coins have already been mined.
What do you think will happen to the price after all the bitcoins have been mined?
What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?

No one knows on what would happen in year 2140+ because this is the year on where all coins be mined whether bitcoin is still able to exist on those years or totally been replaced by something new
because if we do tend to presume out on what are the things or events happen in 100 years time then its really hard to predict even just guessing on tomorrows whether doesnt give out 100% accuracy.
Considering that there are coins which are not in circulation and those are lost coins. Global economy is something not really that mainly touched up by crypto market.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: redsun114 on October 16, 2021, 06:03:58 PM
A lot of people have said that at the time when all the bitcoins are mined, the price of bitcoin is going to be very stable at that time and we are not going to be seeing any much of the volatile nature of bitcoin any longer. But, I don’t really think that that’s how it’d going to be when that time comes in the future.

If the price of bitcoin is increasing because there is a high demand more than supply, then we should be looking forward to more of the increase in price if the supply should reach its limit, because demand is going to get higher than the supply and since there isn’t a lot of supply that’s coming in any longer then we are going to see more of an increase in price.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: bekti3 on October 16, 2021, 06:49:45 PM
It is very difficult to say this now.
the time is still very long because it is estimated that btc is depleted in 2140 and it is still about 119 years from now.

we can not say that things like this in a period of more than a century it is not very easy to predict.
besides that all of us who are in the forum today may not even exist in the world when bitcoins are mined out.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: amihada on October 17, 2021, 09:16:51 AM
In the future bitcoin may become a legal currency even if all bitcoins are mined then the bitcoin price will not go down maybe the bitcoin price will be higher because the transaction is higher then the bitcoin price will not be controlled by anyone I am very sure digital currency will be better major in the future.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Oasisman on October 17, 2021, 09:55:48 AM
The maximum number of bitcoins that can be issued is fixed.
Eighty percent of the coins have already been mined.
What do you think will happen to the price after all the bitcoins have been mined?
What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?

The question has been asked several times already, but then my answer still remains.
Why would we worry much about the things that we're not going to witness once it happens?
I mean, we're still very far from mining all the Bitcon cap. There will still a lot of adoption, global effects, and price changed that will going to happen before we could identify a close answer to those kind of questions.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Huppercase on October 17, 2021, 11:45:03 AM
I am actually concern how the miners will survived during that era, I will not be alive by then, 2140 is such a long year to come by but I think it's kind of hard to predict what will happen by then.
If miners wouldn't have block reward again, how are the going to survive with just an ordinary transactions fees, that's small compared to block rewards


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: nur rochid on October 17, 2021, 11:54:55 AM
The maximum number of bitcoins that can be issued is fixed.
Eighty percent of the coins have already been mined.
What do you think will happen to the price after all the bitcoins have been mined?
What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?

The question has been asked several times already, but then my answer still remains.
Why would we worry much about the things that we're not going to witness once it happens?
I mean, we're still very far from mining all the Bitcon cap. There will still a lot of adoption, global effects, and price changed that will going to happen before we could identify a close answer to those kind of questions.

especially when bitcoin users are still minimal, are they more than 3% of the world's population.... so there's no need to worry until our current generation. and that means a huge opportunity is still waiting to join bitcoin, so that we will benefit from it. on the other hand cryptocurrency is not just bitcoin, and we can take advantage of it


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: V-t.Ester on October 17, 2021, 10:32:08 PM
During almost 12 years that had passed from the 3 January 2009,  when the first block was generated, BTC grown up to 60K dollars. If to look through the graphic on coinmarketcap https://coinmarketcap.com/currencies/bitcoin/ and to suggest that BTC’s price will continue growing in progress and with the same temp, then in 2024 year,  after the next halving, we will see the next huge jump of BTC. Probably to 600K. Sounds amazing but, sure, unreal. In such case till 2140 year when the last block will be mined the price on BTC will be extremely high (sure if dollars will still exist but not hyper inflate as well as all the other fiat money). However no one of us will see that.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Rajamuda on October 18, 2021, 01:03:32 AM
In the future bitcoin may become a legal currency even if all bitcoins are mined then the bitcoin price will not go down maybe the bitcoin price will be higher because the transaction is higher then the bitcoin price will not be controlled by anyone I am very sure digital currency will be better major in the future.
Well anyway... here it is not only mining that is the center as the use of Bitcoin itself, but there will also still be many other things to do besides people taking the initiative just to mine, maybe even in the future Bitcoin will play a more important role in the necessities of life and become worthy common currency globally as an alternative for many people to transact goods and other things. And because of that... of course Bitcoin will be at a high value, which will look more stable. After all, even if there are people who are mining, of course after mining they will definitely sell them to the local currency, and I don't think it will affect it until it decreases in price movements.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: AicecreaME on October 18, 2021, 02:13:50 AM
The maximum number of bitcoins that can be issued is fixed.
Eighty percent of the coins have already been mined.
What do you think will happen to the price after all the bitcoins have been mined?
What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?

It's really hard to predict what would happen to bitcoin if ever all of it will be mined already. Although by simply analyzing the possible scenario which is limited to no more supply and market has still high demand for it, surely bitcoin's price will skyrocket. I based my analysis on the fundamental and basic law of supply and demand. Of course, when people still want bitcoin for themselves and there is no left to be mined, the trend will go upward making a positive impact on the community. But that would be so far from now if my estimates are not mistaken. By then, the value of bitcoin could possibly surpass half a million. I guess we won't around by then, but it's still nice to invest in it because we can give it as an inheritance to the future generation of our bloodline.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: TheUltraElite on October 18, 2021, 06:07:15 AM
What do you think will happen to the price after all the bitcoins have been mined?
Sorry I dont have a time machine...yet.

Quote
What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?
Again, I dont have a time machine....yet. :P

Does it really matter that much to anybody of this age?

Like we are 119years from that event and I am sure the number of forum users of this time who will survive to see that day is close to zero, comparing to what the global life expectancy is: https://ourworldindata.org/life-expectancy

But to answer you real question which is whether bitcoin will have any impact on the economy at that time - as long as someone keeps using bitcoin, its demand will remain. Miners will continue mining the transactions and they will not stop doing that. It would probably be useful to teach your next generation about the past and to invest part of their portfolio into bitcoin.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Dr.Osh on October 18, 2021, 06:20:43 AM
guessing in this case is a difficult thing, because it is still a very long time. however, some of the things I can speculate on is that the price of bitcoins will be very high, given that they are very limited in number. if bitcoin became very popular at that time, it is very difficult to predict its price. In addition, bitcoin may no longer be valued as a currency, but as an investment tool. however, it will be in stiff competition with gold or gems. Well, that's still speculation, but it could be the other way around.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Abiky on October 18, 2021, 02:09:00 PM
The maximum number of bitcoins that can be issued is fixed.
Eighty percent of the coins have already been mined.
What do you think will happen to the price after all the bitcoins have been mined?
What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?

There are many possible scenarios after all Bitcoin are mined. Either Bitcoin's price stabilizes on the market or goes all the way to the moon. By that time, prices will be a lot higher than what they are right now. We may not be able to witness those events, but our descendants will. Miners will live solely on network fees, so one would expect Bitcoin to be extremely valuable by that time.

At least, we won't need to worry what'll happen after the last Bitcoin is mined during our lifetimes. Who knows if something better than Bitcoin comes up in the future, effectively making it obsolete? Just my opinion :)


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Rishabh riyz on October 24, 2021, 10:01:30 AM
The maximum number of bitcoins that can be issued is fixed.
Eighty percent of the coins have already been mined.
What do you think will happen to the price after all the bitcoins have been mined?
What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?

well it is true that of all the 21 million BTC that can be mined we have already mined 18.87 million , with 900 estimated to be an average number that are mined per day .
we believe that all of the BTC could be mined till 2140 , this is assumed by calculating the block rewards for  miners which is halved every 4 years, it was 50 bitcoins In 2012,then halved to 25 bitcoins, and it went down to 12.5 in 2016 and in may 2020 its 6.25 for every new block .

now when Bitcoin reaches its supply cap, the block rewards that the minders used to get  will vanish, and miners will depend on fees from transactions on the cryptocurrency's network for revenue , this may cause increase in transaction fees.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Hippocrypto on October 24, 2021, 11:04:19 AM
The maximum number of bitcoins that can be issued is fixed.
Eighty percent of the coins have already been mined.
What do you think will happen to the price after all the bitcoins have been mined?
What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?
If it happened that all bitcoins are mined, the price of bitcoins will surely be value 6 to 7 digits based on USD. If that will happen then there's no reason for us to hold our coins and surely all of us will gain profit. I believe that bitcoin will be more stable that we don't need to worry everything. But, it is very difficult to say it now since the time is very long. We can't say it now because it is not easy to predict what will gonna happen to the near future. If that happen, I am very sure that digital currency will be better major in the future.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Blawpaw on October 24, 2021, 02:14:02 PM
The maximum number of bitcoins that can be issued is fixed.Eighty percent of the coins have already been mined.

The big majority of the coins have already been issued. Currently, the reward per block is 6.25BTC which will decrease to 3.125BTC

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What do you think will happen to the price after all the bitcoins have been mined?

I take it that if bitcoin still exists at that point the price will surge right before all coins have been issued.
Quote
What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?

If bitcoin is still alive at that point it would mean that it went mainstream and probably adopted as the World currency. So, as said, I expect a price surge as scarcity will push the price to the moon and so forth and of course that this will have serious global implications.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: awik p on October 24, 2021, 03:01:18 PM
The maximum number of bitcoins that can be issued is fixed.
Eighty percent of the coins have already been mined.
What do you think will happen to the price after all the bitcoins have been mined?
What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?
If it happened that all bitcoins are mined, the price of bitcoins will surely be value 6 to 7 digits based on USD. If that will happen then there's no reason for us to hold our coins and surely all of us will gain profit. I believe that bitcoin will be more stable that we don't need to worry everything. But, it is very difficult to say it now since the time is very long. We can't say it now because it is not easy to predict what will gonna happen to the near future. If that happen, I am very sure that digital currency will be better major in the future.
to be able to mine all of them, of course it takes a very long time, and at that time there may already be the latest regulations on bitcoin in every country, maybe many countries have legalized it, and of course bitcoin will be the same as fiat currency movements, and maybe the fluctuations tend to be stable. hopefully by then bitcoin can be an alternative payment instrument at least


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Doell on October 24, 2021, 03:36:13 PM
guessing in this case is a difficult thing, because it is still a very long time. however, some of the things I can speculate on is that the price of bitcoins will be very high, given that they are very limited in number. if bitcoin became very popular at that time, it is very difficult to predict its price. In addition, bitcoin may no longer be valued as a currency, but as an investment tool. however, it will be in stiff competition with gold or gems. Well, that's still speculation, but it could be the other way around.
yes regarding prices it is difficult to predict in the future ,I also make sure that prices from the past were difficult to predict too ,if all bitcoin are successfully mined it will be difficult to get below the average price at current prices now ,well we have gone to the moon for now and it is likely that we will go to this distant planet in the solar system in the future for digits it might be a surprise


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: blatchcorn on October 24, 2021, 06:51:38 PM
Impossible to know what will happen to the price once they're all mined, which will happen in 2140, since I can't even predict the price of the next week. I can't even know for sure if:

  • Bitcoin will be demanded from at least one person.
  • USD will exist.
  • The Earth will be habitable.

The way we are destroying the earth, it seems impossible that by 2140 the earth will be habitable.
To the question posted by OP, lets leave that query to people who will be there by 2140 (Of course we wont be here by 2140, only our posts will be here). What I know is that there is fee that miners will get for there services, I think all miners will decide that price by a consent.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Abiky on October 29, 2021, 11:06:07 PM
The way we are destroying the earth, it seems impossible that by 2140 the earth will be habitable.
To the question posted by OP, lets leave that query to people who will be there by 2140 (Of course we wont be here by 2140, only our posts will be here). What I know is that there is fee that miners will get for there services, I think all miners will decide that price by a consent.

No one knows what will happen by 2140. We won't be alive by that time after all. How Bitcoin will look like in the future is a mystery to all of us. My guess is that Bitcoin will become an extremely valuable cryptocurrency by then. With high market prices, it's possible that miners will live off Bitcoin's network fees. Coins will continue to circulate as usual, but there will be no block reward at all. I would focus more on how Bitcoin is doing now, than how it'll do in the future. I'm sure Bitcoin will do fine at least during our lifetime. Just my thoughts ;D


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Ziskinberg on October 29, 2021, 11:46:39 PM
It has been untold what really happens someday but I'd never think that it make the price of Bitcoin turn down and back to $0. For as long as there is a huge demand on Bitcoin and make use for our daily activities, that something won't happen but instead it keeps the price increasing. Maybe 10 years from now we were able to see the price was doubled or even more. That is why many investors tend to hold their Bitcoin longer for they feel and have positive insights about this thing. It seems possible that we can't buy Bitcoin at $50k anymore in the future.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: peter0425 on October 30, 2021, 05:05:12 AM
guessing in this case is a difficult thing, because it is still a very long time. however, some of the things I can speculate on is that the price of bitcoins will be very high, given that they are very limited in number. if bitcoin became very popular at that time, it is very difficult to predict its price. In addition, bitcoin may no longer be valued as a currency, but as an investment tool. however, it will be in stiff competition with gold or gems. Well, that's still speculation, but it could be the other way around.
yes regarding prices it is difficult to predict in the future ,I also make sure that prices from the past were difficult to predict too ,if all bitcoin are successfully mined it will be difficult to get below the average price at current prices now ,well we have gone to the moon for now and it is likely that we will go to this distant planet in the solar system in the future for digits it might be a surprise
What are you talking ? are you High? we will go to distant planet? lol go yourself and don't add me to your stupid views in life  ;D

I would rather die here than going anywhere outside this Plant, are you a Fan of Elon Musk? then go with him  ;D ;D ;D

Well, that's still speculation, but it could be the other way around.
don't you worry because everything in HEre is speculation .


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: wajik-tempe on October 30, 2021, 05:14:43 AM
It has been untold what really happens someday but I'd never think that it make the price of Bitcoin turn down and back to $0. For as long as there is a huge demand on Bitcoin and make use for our daily activities, that something won't happen but instead it keeps the price increasing. Maybe 10 years from now we were able to see the price was doubled or even more. That is why many investors tend to hold their Bitcoin longer for they feel and have positive insights about this thing. It seems possible that we can't buy Bitcoin at $50k anymore in the future.

Whoever thinks bitcoin become 0$ after all bitcoin all mined doesn't make sense at all because the more the supply is limited the price is must be higher because of the demand is still there this is the basic concept of economy.
I think there are already many investors are planned to hold their bitcoin until all the resource mined and they also already predict the price will be crazy high at that time.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Gyfts on October 30, 2021, 06:36:39 AM
Granted this question won't be relevant for a long time - answer depends on demand, not supply. We know what the total supply of coin in circulation will be and can calculate the number out, subtracted by the estimated coins lost every year. We can use trading volume in this calculation as well. What's not predictable is the demand in the future, which will have the most effect on price. Theoretically the end supply of bitcoin could be literally one coin, and if the demand remains the same, then just a few satoshi could be worth a significant amount.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: carrigan on October 30, 2021, 06:37:35 AM
Talking about the future price of Bitcoin is difficult to predict if not impossible. The market is very volatile so no one will know the state of bitcoin later, even a professional trader is still difficult to guess and predict the price of Bitcoin in the future. Moreover, the miners must have their own price standards. Maybe the price of Bitcoin will actually increase because it is rare and only owned by miners. That's just my opinion.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: lucates on October 30, 2021, 01:24:04 PM
Firstly, there are some different theories regardig 2140 and what going to happen to bitcoin and bitcoin miners, so we can not make sure about this year and bitcoin. Also, We can not even predict one hours later so we can not do any predictions about 2140 which is more than 100 years later, all we know is the market will exist and there will be still people buying and selling assets and there will be still governments and fiat money. Also, we will see new technologies and during this long time bitcoin can do many adoptions depending on the world situation.



I agree with your opinion. We can't do any prediction about 2140 which is more than 100 years later. Now miners are the people who get bitcoins as rewards for each successfully verified transaction or proof of work. Miners also get minimum or no amount of transaction fees. After 2140 the miners can be utilise a decent amount of transaction fees . Generally speaking the amount is maybe less as compare to banking charges in a foreign exchange.

 However is it relevant today? I don't think so. During this period obviously many drastic changes will happen therefore it all depends on the market at that time.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: CDC AP on October 30, 2021, 03:44:40 PM
Well you cannot predict some thing which is going to happen after more than 100 years from now on...we cannot even predict what is going to happen with bitcoin price next month, so talking about that faar no one can say and i think we dont have to worry about it because none of the member in this forum currently will be living at that time.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Ultegra134 on October 30, 2021, 03:57:42 PM
I've asked a similar question in the past, the mining difficulty increases as the times go by, reducing the amount of Bitcoin being mined per block. Doubt it that there's an actual way of knowing when that's going to happen.

On the other hand, the price is expected to have skyrocketed by then, but that'll probably take quite a few decades to say the least.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: The Cryptovator on October 30, 2021, 04:03:59 PM
Since we aren't philosophers so we can't forecast even what will happen after hundreds of years. If Bitcoin exists then Bitcoin price would touch multi-million that time when Bitcoin will mine fully. Or there would be more latest coins or something else which would replace Bitcoin. Back in the hundreds of years, no one imagined Bitcoin will be created and gain a global economy. But it has happened. So it's not impossible there would be something new technologies.

However, I think many threads have been created with the same title. So a little search would give you more best answers.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Stedsm on October 30, 2021, 04:13:47 PM
If BTC continues to establish its place between all those high valued stocks and even goes beyond gold and other valuables, I believe the demand will definitely skyrocket considering the limited number being reached and then, if people get used to this, then BTC will definitely make unbelievably new highs we can't even think of (maybe even Satoshi's dream comes true).
These are all hypothetical statements and will vary based on a biased mindset about this question because if it doesn't go like we believe, then BTC will not be worth what it's now and be dumped. Here, we all are just speculators and crypto works more on beliefs than money.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Crptomagma on November 01, 2021, 02:50:46 AM
We won’t be alive by that time so it’s impossible for us to know what happens to bitcoin price. But one thing I know for sure as a bitcoin enthusiast is that it will always get better. Even after all bitcoin has been mined the price of bitcoin will still be appreciated because bitcoin is the future coin. The world will be a better place.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Issa56 on November 01, 2021, 10:38:19 AM
After 21 million bitcoin have been mined I believe is to early to know what will happen let's wait till then and see what will happen but I believe by then bitcoin price will continue to pump massively because there won't be any new bitcoin entering the market so we will all have to be trading the one in circulation and I believe some people will buy and hold so I believe this will make bitcoin to be unstoppable so you can just start accumulating your bitcoin from now for yourself or if you are old already you can start accumulating bitcoin for your children.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: TheUltraElite on November 03, 2021, 05:30:37 AM
if all bitcoin are successfully mined it will be difficult to get below the average price at current prices now ,
Bitcoin is deflationary in supply. The world population keeps increasing and due to lack of space to live will very soon make the bitcoin available to them, scarce. Following that logic, prices will increase a lot more than what it is today if fiat currencies still remain the basis of exchange.

Quote
well we have gone to the moon for now and it is likely that we will go to this distant planet in the solar system in the future for digits it might be a surprise
I think most of the people alive today will be very old by then and likely not survive a relocation to another planet. Then again, I would rather live in this dying world than go to space.

We won’t be alive by that time so it’s impossible for us to know what happens to bitcoin price. But one thing I know for sure as a bitcoin enthusiast is that it will always get better. Even after all bitcoin has been mined the price of bitcoin will still be appreciated because bitcoin is the future coin. The world will be a better place.
119years from now, there might be much positive improvements in cryptocurrencies. Who know what economic and scientific changes are going to come by then.

As far as the question of "whether holding bitcoin for the future makes sense" remains the basis of such topics - the answer is always yes.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Jeffreyy68 on November 03, 2021, 05:43:19 AM
Total supply only 21m but part of it lost wallet address and recover key and 1m BTC reserve at satoshi wallet
When all BTC halving predict $200,000.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: vanessa915 on November 03, 2021, 05:57:56 AM
i think the price will like rollycoster, because all coin are on market


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: btc78 on November 03, 2021, 07:53:52 AM
Total supply only 21m but part of it lost wallet address and recover key and 1m BTC reserve at satoshi wallet
When all BTC halving predict $200,000.
Halving on when? next halving? the question is about tens to 40 years from now before we finally see the last drop of bitcoin be mined so what halving are you trying to say here?
i think the price will like rollycoster, because all coin are on market
Rolly? or Roller? rollercoaster isn't?

and not all coins are on market not until the last coin mined.

We won’t be alive by that time so it’s impossible for us to know what happens to bitcoin price. But one thing I know for sure as a bitcoin enthusiast is that it will always get better. Even after all bitcoin has been mined the price of bitcoin will still be appreciated because bitcoin is the future coin. The world will be a better place.
don't be exaggerated mate, this is speculative only lol.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Wildwest on November 03, 2021, 11:30:16 AM
Of course we will not know what will happen, which is certainly at that time the world is getting older so that we are no longer in this world, and at that time only new players will know the development of the crypto world, and if all bitcoin is already in the mine then the price must be so fantastic that no other coin can match bitcoin, Moreover, bitcoin is one of the very limited coins so that later the economy will also be influenced by the value of bitcoin.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: geegaw on November 03, 2021, 04:07:37 PM
Of course we will not know what will happen, which is certainly at that time the world is getting older so that we are no longer in this world, and at that time only new players will know the development of the crypto world, and if all bitcoin is already in the mine then the price must be so fantastic that no other coin can match bitcoin, Moreover, bitcoin is one of the very limited coins so that later the economy will also be influenced by the value of bitcoin.
Although Bitcoin has a fixed number of coins in circulation and cannot be printed more in the future, that becomes a plus and has future collectible value but with this one simple factor, a recession or a rise in an economy that would rely on bitcoin is not possible when the structure of an economy is built mainly on the areas of strength that the country possesses, Bitcoin has never been a strong flow of a particular country, it's still just a side character to the future economy. However with the whole world's mining frenzy for bitcoin, once mining is no longer possible, frenzied scramble will ensue and push bitcoin's price to memorable prices.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: TheUltraElite on November 07, 2021, 06:42:56 AM
i think the price will like rollycoster, because all coin are on market
All coins are not in market, some are in wallets and a lot are yet to be mined, rest are in market. Price can only be predicted for now to be going upwards and nothing more than that because the supply is deflationary and the population and its needs are every increasing.

When all BTC halving predict $200,000.
I take it that you mean 200k would be the price of 1BTC after the next halving? This can be a prediction at the most, not concrete. Halving usually sees a lot of price pump but crossing 100k in a prediction is longshot. I would say that the next target for traders should be 70k now that 60k has been crossed then look at 100k before moving to higher prices. Because the prices on halving are only temporary due to a lot of speculation and they drop within a few days back to an organic range.

Halvings dont determine prices - some newbie might think them as "miniature" version of the end of bitcoin mining but this is wrong.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: zaesvlas on November 07, 2021, 07:20:58 AM
It is worth evaluating more realistically - when is such a situation possible? And wouldn't it be interesting to come up with something to solve this situation?


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: glendall on November 07, 2021, 09:37:53 PM
when all bitcoins are mined i think the price will go up and more people will search but to have 1-10 bitcoins it will be difficult so those who have more than 10 it must be the richest person from owning bitcoins
but the increase will occur if bitcoin gets good news and vice versa if bitcoin continues to be reported badly there are 2 possibilities with the bitcoin price continuing to fall until it has no value or is stuck and difficult to rise


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Rufsilf on November 08, 2021, 03:35:27 AM
I am having a hard time believing that Bitcoin is the be all end all of crypto. Bitcoin was the first, but should also be considered a stepping stone towards a more diversified and decentralized crypto ecosystem. So 100 years from now Bitcoin could very well still be a thing, but not such an important thing as it is now, and when tall gets mined, well, not much will happen. The price might go up a bit because of it being a limited commodity, but nothing more than that.

You shouldn't be worry because we won't be there anymore when that happens, so as long as we're alive let's enjoy the moment while the bitcoin is still in demand and the mined bitcoins are just less than 10% of the overall supply limit.
Yes the price in the future is indeed very high due to the scarcity of bitcoin, but we cannot predict the price as well as we can't next week or tomorrow. And if bitcoin bitcoin has reached its maximum supply then for sure there'll be another crypto who will replace it and be an another crowd people, bitcoin will become a legend and will become another regular commodity like gold and other precious metals.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Hippocrypto on November 08, 2021, 04:29:05 AM
when all bitcoins are mined i think the price will go up and more people will search but to have 1-10 bitcoins it will be difficult so those who have more than 10 it must be the richest person from owning bitcoins
but the increase will occur if bitcoin gets good news and vice versa if bitcoin continues to be reported badly there are 2 possibilities with the bitcoin price continuing to fall until it has no value or is stuck and difficult to rise
Indeed. If it happened that all bitcoins are mined, the price of bitcoins will surely be more valuable than before. If that will happen then there's no need for us to hold our coins and surely all of us will gain profit. If all the bitcoins will be mined, it will be more stable that we don't need to worry everything. But, it is very difficult to say it now since the time is very long. If that will happen, I am very sure that digital currency will be better major in the future.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: worle1bm on November 08, 2021, 05:44:50 AM
The crystal ball that can give you future glimpse is just fictional and in reality you can't predict the future and all those are only speculations which could be right or wrong.Same is the case with 2140 when all btc will be mined i.e. 21 million and who knows how many will be in circulation at that time as many coins are lost yearly.The prices will touch high limits at that time and many people will be using it as mode of payment rather than investment source only.The probabilities are many that how it will be used or how much the prices will be but the answers will be delivered at that time only.So enjoy the current time without any worries of future but save btc.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Wawa2013 on November 08, 2021, 06:27:29 AM
when all bitcoins are mined i think the price will go up and more people will search but to have 1-10 bitcoins it will be difficult so those who have more than 10 it must be the richest person from owning bitcoins
but the increase will occur if bitcoin gets good news and vice versa if bitcoin continues to be reported badly there are 2 possibilities with the bitcoin price continuing to fall until it has no value or is stuck and difficult to rise
Indeed. If it happened that all bitcoins are mined, the price of bitcoins will surely be more valuable than before. If that will happen then there's no need for us to hold our coins and surely all of us will gain profit. If all the bitcoins will be mined, it will be more stable that we don't need to worry everything. But, it is very difficult to say it now since the time is very long. If that will happen, I am very sure that digital currency will be better major in the future.

Just now where Bitcoin mining is still being carried out the price is very expensive and continues to rise. So especially in the future when all Bitcoins
have been successfully mined, then Bitcoin reaches the maximum supply and definitely the price will be much more expensive. Because the demand
for Bitcoin continues to rise, while the available supply is increasingly scarce. That's what makes the price of Bitcoin very expensive. But the price of
Bitcoin will be less volatile and more stable, but the fear is that if the price of Bitcoin is too expensive, many people will look for other alternatives.
Because I believe that someday there will be a replacement for Bitcoin, but I don't know when that will happen.
 


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Obito on November 08, 2021, 06:29:33 AM
Nothing really, I mean the supply is fixed so we can't expect the price to go down, it's more likely that the price will go up because there's nothing left to be mined and with more people adapting bitcoin, we will probably see more people adapting as time goes by so I don't think that we won't worry about anything besides, what can go wrong hodling bitcoin?


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: izsara on November 08, 2021, 06:49:06 AM
Of course we will not know what will happen, which is certainly at that time the world is getting older so that we are no longer in this world, and at that time only new players will know the development of the crypto world, and if all bitcoin is already in the mine then the price must be so fantastic that no other coin can match bitcoin, Moreover, bitcoin is one of the very limited coins so that later the economy will also be influenced by the value of bitcoin.
even I don't think we were in this world when this coin was still being mined.
they still have at least 100 years to finish and in the mirror of the average human age who dies at the age of 60-80 years I think all of us who are here will not be able to be in this time.
on the other hand when we are gone how will we know what will happen next.
maybe i will think about what 5-10 years will be like instead of thinking about a long time.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: virasog on November 08, 2021, 08:58:07 AM
The maximum number of bitcoins that can be issued is fixed.
Eighty percent of the coins have already been mined.
What do you think will happen to the price after all the bitcoins have been mined?
What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?

Do you know what economy will look like in 2140 ? That's the time when all the bitcoins will be mined.  I don't think we need to use our mind on things which won't effect our life's. We won't be alive by the time when bitcoin mining process comes to the end and all the bitcoins are mined.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: witcher_sense on November 08, 2021, 09:28:42 AM
From my point of view, nothing will happen to bitcoin's price when all of them are mined because by that time people stop measuring prices of goods in terms of dollars or any other government-issued currency. No one will be talking about investing in bitcoin, making a profit off bitcoin, or another bullshit because bitcoin will be money. Just money, nothing else. Money doesn't have a price but purchasing power. In the future people will think of bitcoin in terms of the amounts of goods and services they can acquire with it. On the market, there will be only exchange rates against bitcoin due to the fact that bitcoin will become the only universal measurement system for expressing value.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: slaman29 on November 08, 2021, 10:56:42 AM
Nothing really, I mean the supply is fixed so we can't expect the price to go down, it's more likely that the price will go up because there's nothing left to be mined and with more people adapting bitcoin, we will probably see more people adapting as time goes by so I don't think that we won't worry about anything besides, what can go wrong hodling bitcoin?

It isn't so much about the supply though, I always thought that was overrated. It matter more what is available to be bought.

Right now, I can't see a difference in availability to me as an individual buyer/seller. There has always been more than enough on orderbooks and I've never seen anything close to "not enough".

5 years ago I could easily buy 0.1 BTC if I tried hard, and now of course than is not not even 0.01 BTC for the same amount of fiat.

But once we're all done buying and latecomers want their share and there's so little left, then price naturally goes up.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: tranthidung on November 08, 2021, 11:08:58 AM
It is a far future untill all Bitcoin will be mined. You can check the following resources and be more knowledgeable and I believe you will be able to answer your question.

  • The Bullish case for Bitcoin (https://vijayboyapati.medium.com/the-bullish-case-for-bitcoin-6ecc8bdecc1)
  • Controlled supply (https://en.bitcoin.it/wiki/Controlled_supply)
  • Equivalent network time (https://bitcointalk.org/index.php?topic=5331087)

In the first one, pay your attention on Lindy effect that gold has after century of existence and used in human society. Bitcoin is much younger but because of Lindy effect, it is safer when you invest in now than 6 or 10 years ago. Even now price is about $66,000 and you won't be able to see price about $100.

Check days above price band (https://stats.buybitcoinworldwide.com/days-above-price-band/) and Never look back price (https://stats.buybitcoinworldwide.com/never-look-back-price/)

After more than 1 decade, Bitcoin now has more Diamond hands and it is good for it. See Follow the smart money (https://insights.glassnode.com/follow-the-smart-money/) article from Glassnode insights.

From [2, 3], you can see the distribution of Bitcoin supply. Additionally, it is estimated that after halving in May 2020, it takes about 48 seconds to mine 1 BTC. However, in 2032, after that halving, it might take 12 mins 48 secs to mine 1 BTC. It means just less 9 more years, miners will have to spend 12 more minutes to mine 1 Bitcoin than now.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: kotajikikox on November 08, 2021, 11:49:18 AM
Nothing really, I mean the supply is fixed so we can't expect the price to go down, it's more likely that the price will go up because there's nothing left to be mined and with more people adapting bitcoin, we will probably see more people adapting as time goes by so I don't think that we won't worry about anything besides, what can go wrong hodling bitcoin?
of course there is mate because when all the bitcoin is mined surely the demand will increase and the value as well will increase .
we knew how Bitcoin is dealing with the crypto market and there are smaller Bitcoin volume in circulation as there are many that has been loss in the air.
so this indicates that the totality of Bitcoin is not that 21 million to be expected.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: anggoro manise on November 08, 2021, 11:57:58 AM
when all bitcoins are mined i think the price will go up and more people will search but to have 1-10 bitcoins it will be difficult so those who have more than 10 it must be the richest person from owning bitcoins
but the increase will occur if bitcoin gets good news and vice versa if bitcoin continues to be reported badly there are 2 possibilities with the bitcoin price continuing to fall until it has no value or is stuck and difficult to rise
That's right, I agree with your opinion. after the supply of bitcoins is all out, we can only estimate with the news that appears whether it can push the price higher or will make bitcoin fall. but I am optimistic if the price of bitcoin continues to rise even though it has been mined.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: laurenB7742 on November 08, 2021, 09:14:43 PM
The maximum number of bitcoins that can be issued is fixed.
Eighty percent of the coins have already been mined.
What do you think will happen to the price after all the bitcoins have been mined?

The miner can stop mining Bitcoin if they won't get much profit like halving rewards.
I don't know, maybe the developer team will make a new pathway for the miner by which they will get benefited and continue mining. or it can happen total supply may be increased, only time will tell. But the reassuring thing is that this is not going to happen very soon, it's too early for such a discussion.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: add1ct3dd on November 08, 2021, 09:20:58 PM
The miner can stop mining Bitcoin if they won't get much profit like halving rewards.
I don't know, maybe the developer team will make a new pathway for the miner by which they will get benefited and continue mining. or it can happen total supply may be increased, only time will tell. But the reassuring thing is that this is not going to happen very soon, it's too early for such a discussion.
No, miners will earn similar to what they are doing right now because they will be getting massive profits from transaction fees itself. So, there will be no need for them to be leaving off their operation of bitcoin mining; they will happily continue forever their mining process and this is how bitcoin network and mining system was designed.

There will be no changes are needed hence we cannot expect developing team will be bringing up something new.  Because, the basic economics of bitcoin is decided and if any changes into that, will make investors and miners disappointed.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: TheUltraElite on November 09, 2021, 07:47:11 AM
It is worth evaluating more realistically - when is such a situation possible?
What makes the current price unrealistic anyway? People spend fiat to buy bitcoin and they speculating on the price which is raising the fiat value of bitcoin. Similarly every other asset in this world is prone to speculative price rise.

Quote
And wouldn't it be interesting to come up with something to solve this situation?
You can solve when you have a problem. Mining of all bitcoins is not a problem. It is the way it is intended to be. Unless you can find out another problem in the system you dont have to solve anything.

The fact that the supply of bitcoin is deflationary is a boon. Inflation exists in fiat currencies and that is why your fiat gets devalued with time. The opposite is true for bitcoin - make the early adopters of bitcoin the billionaires.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: EvieLannister on November 09, 2021, 07:56:05 AM
Because the number of bitcoins is limited, when all bitcoins are mined, all miners will face unemployment (may continue to mine other cryptocurrencies), because the value of bitcoins will get higher and higher. People will not sell bitcoins after only bitcoins, and wait for the value of bitcoins to gradually rise. Bitcoin's transaction volume will decline. Many whales will not profit by selling bitcoins to buy bitcoins, and the return of bitcoin's volatility is gradually decreasing.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: DewiKirana on November 09, 2021, 02:39:35 PM
The price after all Bitcoins are mined will be in line with market demand, if market demand is high then Bitcoin prices will be more expensive over time, and vice versa.
Bitcoin will affect the global economy if everyone only uses Bitcoin as the only means of payment, but this will definitely be hindered by certain circles.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: flyer88 on November 09, 2021, 10:14:57 PM
if indeed bitcoin mining is carried out thoroughly maybe this will be very bad, especially for the miners themselves considering the bitcoin price changes in a period of time that we cannot determine, if mining occurs thoroughly this will actually make the bitcoin price decrease because there is no rotation that occurs to bitcoin itself.I think it is a big mistake, we don't necessarily know whether bitcoin will soar to such a high price after we have been mining for so long it will be very risky for us


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: carlfebz2 on November 09, 2021, 10:57:34 PM
The maximum number of bitcoins that can be issued is fixed.
Eighty percent of the coins have already been mined.
What do you think will happen to the price after all the bitcoins have been mined?
What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?
If we do reach up on the year 2140+ where the last bitcoin would be mined then it does signify that we had able to reach out that year and bitcoin had able to survive for how many decades which does imply that price is  already high on that point.

No doubt on that but we can really point out on whats the actual numbers since no one could predict on what would be the future looks like.

But that time then miners would be mainly be making money on pushing transactions since all blocks had been mined or even we do see
some other alternatives aside from bitcoin on that time on where the community had been supporting.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Abiky on November 11, 2021, 10:54:15 AM
No, miners will earn similar to what they are doing right now because they will be getting massive profits from transaction fees itself. So, there will be no need for them to be leaving off their operation of bitcoin mining; they will happily continue forever their mining process and this is how bitcoin network and mining system was designed.

There will be no changes are needed hence we cannot expect developing team will be bringing up something new.  Because, the basic economics of bitcoin is decided and if any changes into that, will make investors and miners disappointed.

Bitcoin will be worth a lot more in the future, so miners will live comfortably off network fees. The block reward is just an additional incentive to help attract as much miners into Bitcoin as possible. After the network is solidified, fees will be their only source of income. Neither you and I will be alive when all of the Bitcoins are mined, so we'll never know what will happen by then. Either Bitcoin keeps going up in price or goes all the way down the drain. With how Bitcoin's been progressing since day one, I'm certain its price will increase to "infinity and beyond". Just my thoughts ;D


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: TheUltraElite on November 16, 2021, 04:44:37 AM
Because the number of bitcoins is limited, when all bitcoins are mined, all miners will face unemployment
LOL, when were the miners employed anyway that they will become unemployed? Your basic understanding is flawed here, miners dont mine as a job, it is a voluntary thing to do. Anyone can stop mining at any time if they wish to, it will only make the proportionate rewards more for the rest of the miners.

And mining will not stop after the last block is mined, transactions are mined and they will continue, so mining will too.

Quote
(may continue to mine other cryptocurrencies),
Once a miner becomes a pro at mining a certain coin, it is very less likely for them to change over, but this might be a personal choice too.

Quote
People will not sell bitcoins after only bitcoins, and wait for the value of bitcoins to gradually rise.
It will be 119 years from now. We cannot predict what economy will be present then.

Quote
Bitcoin's transaction volume will decline. Many whales will not profit by selling bitcoins to buy bitcoins, and the return of bitcoin's volatility is gradually decreasing.
Why would someone sell bitcoin to buy bitcoin - makes no sense. Unless you are selling for fiat and then using fiat to buy back - then that is a good thing to do. Scarcity of bitcoin is always rising, so the price will also rise - people would want to spend their bitcoin more carefully and likely the price of goods to buy using bitcoin will be low.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Ozero on February 16, 2022, 07:36:05 AM
The last bitcoin is expected to be mined in 2140. We see how quickly the world is changing, inventing and applying new technologies. Some explain such a boom by the fact that the world government has long established contact with aliens and uses their outdated technologies. In just a few decades, there was a rapid development of radio electronics, and then the emerging digital technologies. Therefore, even in 50 years, our world will change even more in terms of the development of science and technology. What will happen in another 120 years is hard to imagine. Surely the current cryptocurrency, if it lasts until then, will change a lot. But not we, not even our children and grandchildren will see this. It's too long for a human life.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: m2017 on February 16, 2022, 08:05:55 AM
The maximum number of bitcoins that can be issued is fixed.
Eighty percent of the coins have already been mined.
What do you think will happen to the price after all the bitcoins have been mined?
What do you think will happen to the price once all the bitcoins are mined, and how do you think bitcoin will affect the global economy?

The total BTC number limited to 21mln. and the last bitcoin will be mined no earlier than 2140 years. But something tells me that no one living today will see this moment. Therefore, what's the difference, what will be the price after all BTC have been mined.

It is difficult to make such forecasts, because the world has been changing very rapidly lately. It is also necessary to take into account many different factors. For example, what place in the world economy will take bitcoin. This will directly affect the price.

If try to predict, then I think bitcoim price will rise, as it has been up to now all the time. This should be affected by the fact that this asset can no longer be mined.





Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Abiky on February 19, 2022, 01:17:26 AM
The total BTC number limited to 21mln. and the last bitcoin will be mined no earlier than 2140 years. But something tells me that no one living today will see this moment. Therefore, what's the difference, what will be the price after all BTC have been mined.

It is difficult to make such forecasts, because the world has been changing very rapidly lately. It is also necessary to take into account many different factors. For example, what place in the world economy will take bitcoin. This will directly affect the price.

If try to predict, then I think bitcoim price will rise, as it has been up to now all the time. This should be affected by the fact that this asset can no longer be mined.

Exactly. Neither of us will be alive by the time all 21 million coins are mined. Anything can happen within 118 years from now. If all goes well, Bitcoin can be worth a lot more than what it is right now. You won't be able to reap the benefits of a high-priced Bitcoin in the future, but your descendants will. No one can tell if Bitcoin will get that far due to its widely-unpredictable nature. Either Bitcoin will survive for generations or fade away into oblivion.

What matters is how Bitcoin is doing right now. We should take every opportunity possible to profit from it before it's too late. As long as it stays decentralized, there should be nothing to worry about. Just my opinion :)


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: jhonjhon on February 19, 2022, 02:19:01 AM
I cannot speculate on that as it has not happened yet.It would make sense as more people keep using bitcoin that as the capacity of transactions goes up, the transaction fees or price will climb as well. Still, i do not want to go on the record as there still a long time till then.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: Viscore on February 19, 2022, 03:25:53 AM
The maximum number of bitcoins that can be issued is fixed.
Eighty percent of the coins have already been mined.

Very interesting topic.

Well, As i see it..Once all 21 million bitcoins have been mined,there will be no more economic incentives for miner and the entire cryptocurrencies will collapse..People who owned bitcoin will hold it,for the vision of higher returns..
What do you think will happen to the price after all the bitcoins have been mined?
What do you think will happen to the price once all the bitcoins are mined.
The price of bitcoin will gonna be more expensive because there are no more bitcoins circulated...


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: franky1 on February 19, 2022, 09:03:23 AM
at the moment the economics of value
is that mining a block(6.25btc) costs (at todays 186exa)
$229,883.12  - $541,292.21 per block (depending on regional costs of electric)
$36,781.30 - $86606.75(ber btc)

if there were no more rewards, and completely reliant of fee's

just to maintain the cost of the same $230k-$540k difficulty to mine(cost per block to re-org transaction list)
each blocks fee total would need to cover this expense of security

if transactions were physically real data bytes of say 250bytes average

then we can assume a few things about the amount of megabytes needed to secure the network based on fee's $ cost
cost of fee:      $16             $8                  $4                   $2
blocksize:   3.6-8.5mb   7.2-16.9mb   14.4-33.8mb    28.8-67.6mb

so if you want to hope for a $2 max fee per transactions blocks need to be upto 68mb a block.

now why should people care about the cost of mining.
well if it only cost the network $10 to mine a block. the network can be attacked CHEAP where by malicious people would go back and edit old blocks and then catch up by spending $10.20 worth of costs(51% attack) per block to be just a lil faster then the network. causing lots of chain reorganisations and making pre-confirmed transactions unconfirm
a 51% attack like just explained. would need 6 block timescale to edit the just confirmed block and then have that lil extra speed to overtake in 6 blocks. to skip ahead to become the new chain height to follow. meaning any transaction value over $61.20 is not 6confirm safe

so its important to make sure its not cheap to mess with the block data history
after all if it costs the networks say $230k to make a block, someone that wants to undo their just confirmed transaction he needs to afford $1.38m upfront to cover costs to orphan off the 6 blocks that still contained his spend he doesnt want spent. meaning $1.38m is deemed just about 6 confirm value secure

now, adding in some considerations. if we deem value of $1.4m is 6 confirm safe. we can even calculate that down
using the $2/tx number.
value deemed 6 confirm safe:       $1.4m            $700k               $350k
blocksize:                               28.8-67.6mb    14.4-33.8mb     7.2-16.9mb

meaning if people want to stay at a 17mb block size limit in many decades. and think $2/tx is a good average fee
they have to adjust their thinking about how much of a spend is not worth unspending.
whereby people would wait
~ an hour(6blocks) for $350k value protection before its not worth the sender trying to unspend (block re-org)
   ~ 2hour(12blocks) for $700k value protection
   ~ 4hour(24blocks) for $1.4m value protection

if people wanted to stay at a lower blocksize with $2 fee
3.6-8.5mb: 1hour $175k value protection
1.8-4.2mb: 1hour $87.5k value protection

so now you have all the variable considerations of how it can affect many things. decisions over the next few year/decades will need to be made.
lower the value protection of 6 confirms to keep blocksize from increasing 30x
increase the blocksize to prevent the fee $ cost from increasing ?x

assumptions can be made. like would people use any payment system that cost $2 per use (people hate paypals 20cent fee after all)
EG if your countries min wage was $8/hour. would you want to pay 2 hours of labour to use a payment system($16).. big no no


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: slaman29 on February 19, 2022, 09:13:48 AM
if there were no more rewards, and completely reliant of fee's

just to maintain the cost of the same $230k-$540k difficulty to mine(cost per block to re-org transaction list)
each blocks fee total would need to cover this expense of security

if transactions were physically real data bytes of say 250bytes average

then we can assume a few things about the amount of megabytes needed to secure the network based on fee's $ cost
cost of fee:      $16             $8                  $4                   $2
blocksize:   3.6-8.5mb   7.2-16.9mb   14.4-33.8mb    28.8-67.6mb

so if you want to hope for a $2 max fee per transactions blocks need to be upto 68mb a block.

Totally makes sense to me. No more new blocks means the incentive has to come from somewhere, if this is fees, then it cannot possibly be rational to charge the cost of mining to consumers so fees will never be the solution.

The only solution is to make BTC price extremely high, while encouraging more txs (as more fees like you say) but is there a way to do so without block increase? Different discoverable new technology?


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: franky1 on February 19, 2022, 09:21:58 AM
The only solution is to make BTC price extremely high, while encouraging more txs (as more fees like you say)

imagine we had a 1sat/byte scenario throughout. meaning 250sat for the average 250byte tx in a 1mb block
ever increasing extreme bitcoin price also increases the $ fee
todays ~$40k/btc = 0.00000250sat= $0.10
future ~$80k/btc = 0.00000250sat= $0.20
future ~$800k/btc = 0.00000250sat= $2.00

yep if bitcoin goes over $800k/btc. the fee will exceed $2 in a 1mb block

so in a real byte/fee for real byte/block
if they remove the cludgy 'witness scale factor" bad math. and allowed say 2mb real byte tx utility
bitcoin can go to $1.6m for a $2 (250byte average tx)

but is there a way to do so without block increase? Different discoverable new technology?

seems the propaganda of us still living in the 1990's of dial up speeds and floppy disk removable storage has still got people enshrined into thinking bitcoin cannot cope with any blocksize scaling..

you do know that watching youtube for 10minutes(720p res) is 250mb and youtube has not broken the internet or your computer
hundreds of millions of people have no issue with streaming at 25mb per minute

dont fear allowing more people to make more transactions per 10 minutes. the fear has just been engrained into you by people who want you to use other networks by saying bitcoin cant scale, just so they can offer you a different network to rest your head against

a HD photo on an iphone is 5mb.. but do you hear screams of "dont upload your photo to social media every 10 minutes or your phone will brake the internet".. nope you dont


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: dezoel on February 20, 2022, 05:06:44 AM
Well to my own understanding, mining all the bitcoins wouldn’t really have any bad effect on Bitcoin immediately, or maybe not at all. First of all let’s talk about the miners: when all the bitcoins are mined, some people may think that it would affect miners, because their main work in the community is mining cryptocurrency, but we are also forgetting that they are also the ones who confirm transactions that we make, so they would continue to make their income through the transaction fees that we pay every time we send and receive money through Bitcoin.

Then as for Bitcoin itself, people won’t stop selling and buying Bitcoin, it doesn’t matter the price it’s at. There will always be those who are buying and selling it every moment, especially the day traders. So that means that whenever you want to buy, you’ll always see coins to buy and exchanges will always have plenty orders being filled in.

As the number of demand continues to increase, it will lead to increase in price. Sure, it is going to take a really long time for it to really have any impact, because Bitcoin also has fractional parts, such as one satoshi, as time goes on as the amount continues to increase, it may get to a point where people would be interested in buying in fraction and no longer buying In full Bitcoin.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: slaman29 on February 20, 2022, 03:10:32 PM
seems the propaganda of us still living in the 1990's of dial up speeds and floppy disk removable storage has still got people enshrined into thinking bitcoin cannot cope with any blocksize scaling..

you do know that watching youtube for 10minutes(720p res) is 250mb and youtube has not broken the internet or your computer
hundreds of millions of people have no issue with streaming at 25mb per minute

dont fear allowing more people to make more transactions per 10 minutes. the fear has just been engrained into you by people who want you to use other networks by saying bitcoin cant scale, just so they can offer you a different network to rest your head against

a HD photo on an iphone is 5mb.. but do you hear screams of "dont upload your photo to social media every 10 minutes or your phone will brake the internet".. nope you dont

Yes, I'm aware of the speed/bandwidth issues that people used to worry about, I am quite old so I remember reading about email attachments one day breaking the internet because people were attaching full sized photos. My company even got us all through training to resize our jpgs :)

But I never thought about bitcoin block size like this, I thought it was just about the burden of individual nodes keeping the entire blockchain. Because even I right now couldn't afford to do it. I know there is pruning but I'm not so technical. It's only less than half TB but most of us on PC are still using max 512gb disks :) I know it's different in Europe maybe but that puts most of us in Asia out.

Bitcoin SV for example is I think 3 TB ++ already and it only started a few years ago? I could be wrong but isn't this problematic for most people at least in Asia.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: mrongoz_imut on February 20, 2022, 03:27:49 PM
Maybe after bitcoin all have mined price pump because have not any demand from miner where selling bitcoin fund, I think the miner is not holder they will sell day by day or sell on weekly when getting mining reward with bitcoin. But still long time for all bitcoin can mined and keep exist with many mining hunter around the world try to build big project how to mining bitcoin, after several country not allowed for mining always have friendly country already accept them with several service by on new country.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: jaberwock on February 20, 2022, 05:08:08 PM
I cannot speculate on that as it has not happened yet.It would make sense as more people keep using bitcoin that as the capacity of transactions goes up, the transaction fees or price will climb as well. Still, i do not want to go on the record as there still a long time till then.
We can’t really tell how it is going to be when the time comes and there are no more bitcoins to be mined. But you all know for sure that the value of bitcoin will keep on increasing, and the level of demand will surely surpass that of supply. As this level of demand surpasses supply, it will lead to heavy increase in the price of bitcoin, which would even make a fraction of bitcoin to be worth more than it is today.

And we all know as well that it is possible for the number of bitcoins in the market to be increased, maybe when we get to that stage, the community  or the developers might then decide  on whether they are to break bitcoin down into more fractional parts, or to increase the number of coins that can be mined and correct the price to match.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: rdbase on February 20, 2022, 07:32:12 PM
I am having a hard time believing that Bitcoin is the be all end all of crypto. Bitcoin was the first, but should also be considered a stepping stone towards a more diversified and decentralized crypto ecosystem. So 100 years from now Bitcoin could very well still be a thing, but not such an important thing as it is now, and when tall gets mined, well, not much will happen. The price might go up a bit because of it being a limited commodity, but nothing more than that.
Many believe bitcoin is the stepping off point for people to get into using cryptocurrencies.
There are some which have zero transaction fees to send their coins such as nano and others take less time to send over their blockchain this being litecoin.
But bitcoin will always be the grandfather if you will of all cryptocurrenies. There is no denying this fact. It was the first and only to start using the blockchain back 13 years ago.
As for the question of what will happen to the price once all bitcoins have been mined?
Nothing.
Michael Saylor even started discussing how bitcoin could go proof of stake just as ethereum will do later this year.
So that will minimize the cost of doing transactions and sending times over the blockchain will decrease as well.


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: franky1 on February 20, 2022, 10:09:11 PM
But I never thought about bitcoin block size like this, I thought it was just about the burden of individual nodes keeping the entire blockchain. Because even I right now couldn't afford to do it. I know there is pruning but I'm not so technical. It's only less than half TB but most of us on PC are still using max 512gb disks :) I know it's different in Europe maybe but that puts most of us in Asia out.

i would have thought (joking here) that asia would be ahead of the game. especially since the hard drives people in the west buy.. come from asia

im just going to use thailand as an example
if we assume a 4mb block full utility for full transaction access.. well thats 1.26TB for the next 6 years( call it 1.6tb for all 18 years back to genesis. you can get a 2tb for 1800b (https://www.invadeit.co.th/category/internal-hard-drives/3-5-inch/2tb/) in thailand. which is about 6 days min wage, which should see you good until 2028
(most people update their PC every 4-6 years anyway)

even super fast unlimited internet is only like 2 days(10% of min wage monthly income) (https://www.ais.th/fibre/en/package_broadband24.html) which is about standard cost around the world

..
as for pruning.. um.. no. it doesnt have the HASH ID to then interrogate other peers to ensure data integrity of UTXOset nor does it then allow other nodes to then initial block download from you. so by pruning you become an insecure 'leecher' not offering all the decentralised protocol backbone services a full node suppose to offer.

there are many idea's in the pipeline where instead of a endless blockchain from genesis. .. insteat of curent insecure and less network serving pruning.. there is idea's of a hybrid. a best of both worlds 'ball and chain' idea floating around.

imagine in the future where by nodes had code to 'milestone' the utxo set as of block 840,000(2024 halving) and ball up all the unspents as seen from the view of block 840,000. (im estimating about 5gb 'ball' of data) and give it a hash. and then mine that hash for X year(include it in block data). then at a later date when its deemed as a true 'milestone'  EG 945,000(a year later) and 105,000 blocks deep. to secure the utxo hash into record
prune off the chain from below 840,000.  thus there is then a 'ball' (5gb) and chain(upto 210gb) instead of the endless 'from genesis chain' people cry about.
this 'ball' would be under 5gb unspents. instead of the estimated 520gb spent and unspent chain by 2028
but by having a hash and a strong hash at that. it becomes not so easy/cheap for people to manipulate history(having to re-mine 105000 blocks just to edit the utxo hash out). and so a more secure version of pruning while also having a smaller initial (ball)block download to keep and distribute to others
then they start working on the next 'ball' from the next year, with a 1 year including of hash in blocks before pruning off.
thus 2029 (block 945k) has a milestone ball of block 0-840k of 5gb + 210gb of chain of 840,001-945k
thus 2030 (block 1050k) has a milestone ball of block 0-945k 6gb+ 210gb of chain of 945,001-1050k
meaning nodes only store or IBD upto ~216gb securely where the UTXO set can be trusted and authenticated by peers


Title: Re: What do you think will happen to the price when all the bitcoins are mined?
Post by: slaman29 on February 21, 2022, 12:04:59 PM
But I never thought about bitcoin block size like this, I thought it was just about the burden of individual nodes keeping the entire blockchain. Because even I right now couldn't afford to do it. I know there is pruning but I'm not so technical. It's only less than half TB but most of us on PC are still using max 512gb disks :) I know it's different in Europe maybe but that puts most of us in Asia out.

i would have thought (joking here) that asia would be ahead of the game. especially since the hard drives people in the west buy.. come from asia

im just going to use thailand as an example
if we assume a 4mb block full utility for full transaction access.. well thats 1.26TB for the next 6 years( call it 1.6tb for all 18 years back to genesis. you can get a 2tb for 1800b (https://www.invadeit.co.th/category/internal-hard-drives/3-5-inch/2tb/) in thailand. which is about 6 days min wage, which should see you good until 2028
(most people update their PC every 4-6 years anyway)

even super fast unlimited internet is only like 2 days(10% of min wage monthly income) (https://www.ais.th/fibre/en/package_broadband24.html) which is about standard cost around the world

Ok wow Thailand is my neighbor but I had no idea it was that cheap there. In my other neighbor Malaysia, for 2 TB of a standard cheap brand on offer you pay RM300 (everybody here checks on Lazada at minimum quality if you buy from other cheap sites you will get ripped off with Alibaba fakes, this is the other problem of Asia, you have 50 online shops and maybe 40 of them are fakes and we do not have online purchase protection like a normal country should have lol) where RM 800 is the minimum wage (it is as high as 1200 in one or two states) and nobody who earns minimum wage ever has any savings.

I am actually shocked minimum wage in Thailand is 50% more than Malaysia (or exactly same if living in most expensive state), but I am 100% sure like Malaysia, most workers are not earning minimum wage as employers don't go to jail or even get fined for hiring illegally. I should know this very well as I spent many many years before this being hired illegally for pay way below the legal minimum :) We all do it here, facts of life.

Thanks for your comments I learn a little bit (also hopefully understand a little bit).