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1  Bitcoin / Bitcoin Discussion / Re: Why so many bitcoins have been mined. on: October 16, 2017, 04:52:13 PM
Thanks for your breakdown, it answers my concerns.  You rock!!!
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Then people will use it, just like they use any other form of money.  They will have a job that will pay them with bitcoins.  They will use bitcoins to pay for things.  They will invest their bitcoins in businesses or loans.
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That is a scary good thing, if it would be to happen it would basically replace all 80 trillion physical money or the total liquefiable currency $1.2 quadrillion(if the numbers given are true)


2  Bitcoin / Bitcoin Discussion / Why so many bitcoins have been mined. on: October 16, 2017, 01:00:00 PM
I am yet to fully understand how the bitcoin or any crypto, works entierly and if someone does not mind helping me clear a few thoughts that cross my mind.
if there's only 21 million bitcoins to be mined by year 2100+ , why is that the majority have already been mined in such a short amount of time, why has it been so "easy" ?
My understanding is that the miners are the ones that keep the blockchain alive. Now, that it will get harder and harder for them to mine, they will be less and less miners in the blockchain.
If they will make income of just the transactions, wouldn't that make up for higher fees? If so, doesn't that go against the whole idea of having small fees, compare to what the current banks offer.
At the end of the day, crypto its a good investment or opportunity for people to make money but when theres no money to be made, then what?
Thanks .
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