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Title: Will bitcoins price increse when theres none left to mine? Post by: hopper28755 on November 16, 2014, 04:53:57 PM Will bitcoins price increse when theres none left to mine? Should i start mining now? And hold onto the bitcoins until the price goes up?
Title: Re: Will bitcoins price increse when theres none left to mine? Post by: mezmerizer9 on November 16, 2014, 05:25:15 PM Will bitcoins price increse when theres none left to mine? Should i start mining now? And hold onto the bitcoins until the price goes up? Mining isn't profitable now, unless you have expensive equipment. You can mine alt coins and exchange them for btc. Bitcoin price started going up in the last few days. Title: Re: Will bitcoins price increse when theres none left to mine? Post by: BitcoinExchangeIndia.com on November 16, 2014, 05:25:46 PM Will bitcoins price increse when theres none left to mine? Should i start mining now? And hold onto the bitcoins until the price goes up? Bitcoin is a deflationary currency by nature. That means, its supply decreases with time. Now, at normal conditions, its demand should increase and when there is no supply, price should go up. But there are multiple micro factors that affects bitcoin price. So, it cant be accurately predicted. Title: Re: Will bitcoins price increse when theres none left to mine? Post by: Niliv1 on November 16, 2014, 06:23:14 PM BTC PRice on 12th Increased to 439$ now again in 384$ so i say now best we mine altcoins and do trade and get btc fast as BTC diff so how so you will need a lot of ths mine as i got 2075ghs i am seeing that on every week my payout geting down with time so i switched to mine altcoin....
Title: Re: Will bitcoins price increse when theres none left to mine? Post by: luciann on November 16, 2014, 06:33:48 PM After the algorithm coins have reached, it`ll still produce past that based on transaction fees.
This also includes all the stolen coins, and coins we dont know. Title: Re: Will bitcoins price increse when theres none left to mine? Post by: Wusolini on November 16, 2014, 06:34:33 PM Will bitcoins price increse when theres none left to mine? Should i start mining now? And hold onto the bitcoins until the price goes up? Bitcoin mining will end around 2140, nobody knows what happen after. To hold BTC is always good idea, but instead of mining you should buy them directly (wait for significant price drop). Price (as always) is given by demand and supply. As there are still too many people not knowing about BTC, I suppose the price will go up, but cant tell you when. Title: Re: Will bitcoins price increse when theres none left to mine? Post by: Niliv1 on November 16, 2014, 06:44:31 PM Quote Bitcoin mining will end around 2140, nobody knows what happen after. To hold BTC is always good idea, but instead of mining you should buy them directly (wait for significant price drop). Price (as always) is given by demand and supply. As there are still too many people not knowing about BTC, I suppose the price will go up, but cant tell you when. Right Sir and Now Also Good Time To buy and store some BTC.... As on Last week it was abv 430$ Title: Re: Will bitcoins price increse when theres none left to mine? Post by: odolvlobo on November 16, 2014, 08:20:19 PM Will bitcoins price increse when theres none left to mine? Should i start mining now? And hold onto the bitcoins until the price goes up? The mining subsidy causes the value to fall because it increases the supply of bitcoins. Currently, the inflation rate is about 9.7%. Eventually the subsidy will go to 0 and then no more bitcoins will be created, and mining will be supported by transaction fees only. It may be cheaper to buy bitcoins than to mine them. I don't recommend mining for profit without doing a lot of research. Title: Re: Will bitcoins price increse when theres none left to mine? Post by: dothebeats on November 17, 2014, 03:06:03 PM When there is none left to mine, only a few miners would keep on mining to move transactions in the network. And because of the insufficient miners, the tx over the network would be slow.
Title: Re: Will bitcoins price increse when theres none left to mine? Post by: RodeoX on November 17, 2014, 03:18:22 PM When there is none left to mine, only a few miners would keep on mining to move transactions in the network. And because of the insufficient miners, the tx over the network would be slow. Not at all. If you read the whitepaper you will see that miners will continue to be paid as long as the system exists. They will not be profitable finding block rewards, but they will receive Tx fees. Over time this will become the most important revenue stream for them. Satoshi's system has many rewards and disincentives to keep the traffic going. The fee will be a function of the lowest value that miners will accept, whatever that fee is. Right now if you fail to include a Tx fee, your transaction will likely go through. Once blocks are rare and Tx fees are the main revenue, you will need to include a fee or your transaction will likely be orphaned. Starting mining now will require a very large investment in equipment. It's not a home business anymore. IMO. Title: Re: Will bitcoins price increse when theres none left to mine? Post by: bitbaby on November 17, 2014, 04:07:19 PM When there is none left to mine, only a few miners would keep on mining to move transactions in the network. And because of the insufficient miners, the tx over the network would be slow. Not at all. If you read the whitepaper you will see that miners will continue to be paid as long as the system exists. They will not be profitable finding block rewards, but they will receive Tx fees. Over time this will become the most important revenue stream for them. Satoshi's system has many rewards and disincentives to keep the traffic going. The fee will be a function of the lowest value that miners will accept, whatever that fee is. Right now if you fail to include a Tx fee, your transaction will likely go through. Once blocks are rare and Tx fees are the main revenue, you will need to include a fee or your transaction will likely be orphaned. Starting mining now will require a very large investment in equipment. It's not a home business anymore. IMO. Thanks for this info, I haven't read the white paper myself but this is what I was thinking a couple of days back and now I know. If miners would only earn through TX Fee, I would expect it would go up. Title: Re: Will bitcoins price increse when theres none left to mine? Post by: odolvlobo on November 17, 2014, 07:00:43 PM When there is none left to mine, only a few miners would keep on mining to move transactions in the network. And because of the insufficient miners, the tx over the network would be slow. The number of miners has no effect on the speed of transactions. If there are "insufficient" miners, the difficulty will adjust so that blocks are still produced every 10 minutes. Title: Re: Will bitcoins price increse when theres none left to mine? Post by: Wusolini on November 17, 2014, 09:36:37 PM When there is none left to mine, only a few miners would keep on mining to move transactions in the network. And because of the insufficient miners, the tx over the network would be slow. Not at all. If you read the whitepaper you will see that miners will continue to be paid as long as the system exists. They will not be profitable finding block rewards, but they will receive Tx fees. Over time this will become the most important revenue stream for them. Satoshi's system has many rewards and disincentives to keep the traffic going. The fee will be a function of the lowest value that miners will accept, whatever that fee is. Right now if you fail to include a Tx fee, your transaction will likely go through. Once blocks are rare and Tx fees are the main revenue, you will need to include a fee or your transaction will likely be orphaned. Starting mining now will require a very large investment in equipment. It's not a home business anymore. IMO. Thanks for this info, I haven't read the white paper myself but this is what I was thinking a couple of days back and now I know. If miners would only earn through TX Fee, I would expect it would go up. It could, but maybe there will be so many transactions that rising of fees won't be required. Title: Re: Will bitcoins price increse when theres none left to mine? Post by: Simon8x on November 18, 2014, 08:56:22 AM Will bitcoins price increse when theres none left to mine? Should i start mining now? And hold onto the bitcoins until the price goes up? Bitcoin is a deflationary currency by nature. That means, its supply decreases with time. Now, at normal conditions, its demand should increase and when there is no supply, price should go up. But there are multiple micro factors that affects bitcoin price. So, it cant be accurately predicted. The rate of new bitcoin generation will decrease with time, but the total bitcoin supply will increase unless people lose their bitcoin at a faster rate. In that sense, shouldn't bitcoin be considered inflationary when currently ~3600 new bitcoin are created every day? Title: Re: Will bitcoins price increse when theres none left to mine? Post by: Simon8x on November 18, 2014, 08:59:08 AM When there is none left to mine, only a few miners would keep on mining to move transactions in the network. And because of the insufficient miners, the tx over the network would be slow. The number of miners has no effect on the speed of transactions. If there are "insufficient" miners, the difficulty will adjust so that blocks are still produced every 10 minutes. Correct if the total network hashrate decreases gradually. If the total hashrate is halved suddenly, it will take double the time to generate the blocks for a while until difficulty adjusts (every 2016 blocks). Title: Re: Will bitcoins price increse when theres none left to mine? Post by: DannyHamilton on November 18, 2014, 04:13:43 PM - snip - shouldn't bitcoin be considered inflationary when currently ~3600 new bitcoin are created every day? Yes. Every 4 years, the rate that new bitcoins are introduced to the system is cut in half. In the beginning the supply is inflationary. Eventually the average number of bitcoins lost or destroyed per day will be greater than the number of new bitcoins being created. At that point the supply will become deflationary. It is possible that the number of bitcoins lost or destroyed could fluctuate quite a bit. This could cause the supply to oscillate between being inflationary and deflationary until eventually the number of bitcoins being created per day is consistently lower than the number being lost or destroyed. Note that even if the supply is inflationary, it is still possible to experience price deflation as long as the demand outpaces the supply. Title: Re: Will bitcoins price increse when theres none left to mine? Post by: jaberwock on November 18, 2014, 04:30:43 PM It only going to happens in 2140 or so.
Unless you are a vampire, you won't see it happening. But you might want to study what happened with Doge since the halvings stopped Title: Re: Will bitcoins price increse when theres none left to mine? Post by: jjacob on November 19, 2014, 04:16:32 PM Will bitcoins price increse when theres none left to mine? Should i start mining now? And hold onto the bitcoins until the price goes up? The block reward will cease to exist by 2140. The supply of bitcoins will slowly dwindle before that and people expect its price to rise far before that. :) Title: Re: Will bitcoins price increse when theres none left to mine? Post by: HeroCat on November 19, 2014, 05:53:20 PM Mining BTC with your computer will be too slow. I think good BTC mining company is the right choice. Regarding BTC price - it is very difficult to say what will be next.
Title: Re: Will bitcoins price increse when theres none left to mine? Post by: bornil267645 on November 19, 2014, 06:31:59 PM It's already halfway there, so I guess the price should rise soon accoring to the theory.
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