19 Million BTC in two weeks' time

[Ale88]

To know how much bitcoin have permanently lost can be impossible for now, but probably after many centuries it will be possible, the untouched bitcoins can be assumed to have been lost, using addresses connected to it for the tracking. But right now, the amount of bitcoin lost can not be known.

I don't think we need to wait for centuries for something like that, probably the bitcoins that didn't move in the next 20-30 years top can be considered lost forever. I really don't see a single reason why someone shouldn't move a satoshi after 30 years, especially because he would be at least 50-60 year old at that point. Hodling till death is kinda extreme 

[Oshosondy]

probably the bitcoins that didn't move in the next 20-30 years top can be considered lost forever.

Did you think some people can not hold for their children and which can be more years. Also all lost bitcoin may not be known in total because as time goes by, some people will also lost more bitcoin.

I really don't see a single reason why someone shouldn't move a satoshi after 30 years, especially because he would be at least 50-60 year old at that point. Hodling till death is kinda extreme 

It can be because of many reasons, inheritance purpose is one of the reasons.

[Cryptomiles1]

It is only the early adopters will surely understand the face of Bitcoin maybe it could be too late for those jumping in few years to come, i still get it clearly that the layman's will never get to see this less until is being effected though they still call BTC scam due to lack of understanding. Then it will be too late and expensive to acquire some fraction of it.

probably the bitcoins that didn't move in the next 20-30 years top can be considered lost forever.

Did you think some people can not hold for their children and which can be more years. Also all lost bitcoin may not be known in total because as time goes by, some people will also lost more bitcoin.

I really don't see a single reason why someone shouldn't move a satoshi after 30 years, especially because he would be at least 50-60 year old at that point. Hodling till death is kinda extreme  

It can be because of many reasons, inheritance purpose is one of the reasons.

Only those who knows the benefit that will surely hold for their children.
 

[Lucius]

~snip~

I just wanted to be sarcastic with my post and point out how pointless such topics are - because everything we can say on this topic will not make anyone a little smarter. I wouldn’t so much emphasize the question “how much Bitcoin has been lost so far”, but the much more important question is how many people are actually lost in the crypto world? I would estimate that number is much higher than 19 or 21 million, which is actually a real tragedy...

[Myleschetty]

Fun fact: we're already halfway away from the next Bitcoin halving(or halvening, whatever). It totally felt like the last halving was just less than a year ago.

That is true, we are getting near to fomo period, the time people that are ready to buy massively, the period six digits wouldnbe possible.

Judging by the trend of the market. I think we're already in the period of fomo cause institution investors appear to accumulate more Bitcoin when deep than we think and most individual investors that notice this decision of the institution now appear to hold than selling

This has been said for a long time now. Does anybody really believe that there is a thing called as "institutional FOMO". Institutions don't FOMO, they create and guide the conditions that lead it it.

When we talk about institutions, we aren't talking about companies owned by people like Musk, Saylor or Jack who are into Bitcoin because they believe in it. When it comes to wide scale adoption, there is no escaping the "institutions". They will leave no stone unturned to ensure that crypto does not become some sort of safe harbor for the billions of "consumers" on which whole economies depend. As far as capitalists are concerned, Saving is bad for them. I doubt they will simply let things go so out of hand that people can just sit in Bitcoin and keep getting returns from it.

While that really would be an ideal state, the plain fact that Bitcoin distribution itself is far from perfect, means that even if such a system comes into being, it'll only be a replication of the old one, albeit with new power centers. Bitcoin is basically our collective bet on such a future. Those who want to take the bet, buy bitcoin.

In a time when fiat currency appears to be obsolete, only a naive institution won't seek an option in Bitcoin, and by looking at the acknowledge Bitcoin gained in a couple of months is now in the realm of join it or missing out. Meanwhile, the market itself has made us know, normally we usually see huge market correction during this season but not any among and a lot of companies like Grayscale are getting more institutional investors almost every week.

[qwertyup23]

Fun fact: we're already halfway away from the next Bitcoin halving(or halvening, whatever). It totally felt like the last halving was just less than a year ago.

Ohh this is very interesting to hear! It felt like that the last halving happened just a few months ago. I remembered checking all of my BTCs and their value skyrocketed since I HODLed most of them. Fortunately and unfortunately, after the halving I cashed out majority of my BTCs and that taught me a valuable lesson to invest long-term and take advantage of its value.

The good thing about halving is that it takes a considerable amount of time for all of the supply of BTC to be circulated. Every halving means that the BTC in circulation would be cut down as its denominations would considerably decrease.

[slackovic]

Ohh this is very interesting to hear! It felt like that the last halving happened just a few months ago. I remembered checking all of my BTCs and their value skyrocketed since I HODLed most of them. Fortunately and unfortunately, after the halving I cashed out majority of my BTCs and that taught me a valuable lesson to invest long-term and take advantage of its value.

The good thing about halving is that it takes a considerable amount of time for all of the supply of BTC to be circulated. Every halving means that the BTC in circulation would be cut down as its denominations would considerably decrease.

Cashing out in plus is not unfortunate. Sure, now you know that you could have made more money if you didn't cash out. But you couldn't have known that the price will go up. It could have went down and then you would be happy that you cashed out. The only unfortunate thing is if you need to cash out while you are losing.

[tbterryboy]

To know how much bitcoin have permanently lost can be impossible for now, but probably after many centuries it will be possible, the untouched bitcoins can be assumed to have been lost, using addresses connected to it for the tracking. But right now, the amount of bitcoin lost can not be known.

I don't think we need to wait for centuries for something like that, probably the bitcoins that didn't move in the next 20-30 years top can be considered lost forever. I really don't see a single reason why someone shouldn't move a satoshi after 30 years, especially because he would be at least 50-60 year old at that point. Hodling till death is kinda extreme 

I would guess that there could be some people, not a lot, but some people who purchased so that they could give it to their kids in the future. That could take about 20 years, even 30 years in some cases. If you do not have a kid right now, try to have one, then have one, and then they grow up, that could take as much as 30 years. This is why I believe that 30 years of waiting for something to be sure is not really a bad idea.

However, we are just in a bit over 10 years of bitcoins existence and we already know some of the coins are lost forever because of how it was sent to wrong places, plus satoshi had like a million which looks like it may not be in the market ever again.

[pooya87]

I don't think we need to wait for centuries for something like that, probably the bitcoins that didn't move in the next 20-30 years top can be considered lost forever. I really don't see a single reason why someone shouldn't move a satoshi after 30 years, especially because he would be at least 50-60 year old at that point. Hodling till death is kinda extreme 

Here is a simple reason: you don't store all your bitcoins in one address and you don't have to!
For example I started back in 2014 and I have some coins that I have not touched ever since then (that's about 8 years) and there is a good chance that I will never touch them for a decade or two. But it doesn't mean the coins are lost or I have not spent or sold any bitcoin.

[Mauser]

19 Million BTC in two weeks' time, then by 2027, 95% of the 21 Million bitcoins' limit will be in circulation. Then it will take 113 years to issue the last 5%.

Bitcoin fixed supply makes it certainly very deflationary with ramping purchasing power.

I wonder what the bitcoin price will be in the last four years before all bitcoins are mined. Unfortunaley none of us will be around anymore at that time. With the mining rate so small it has to be very just to cover the running cost and energy prices of the miners. With so many bitcoins already being mined today the price can only go up long term. I wouldn't sell any coins at the moment. Its the perfect longterm investment with the fixed supply. I also wonder what would happen if no more coins are being mined today because its to energy intensiv. Would the price jump upwards overnight?

[Lucius]

I also wonder what would happen if no more coins are being mined today because its to energy intensiv. Would the price jump upwards overnight?

Bitcoin mining has never been something that takes away any energy that the world desperately needs. The annual energy loss is as much as 50 000 TWh, and Bitcoin consumes about 220 TWh - all other discussions are superfluous and meaningless. Even if by some miracle it happened that mining stopped today (although it is practically impossible), the question is what would happen to the price if no one mined, which means that no one could process transactions.

Perhaps it would be interesting to ask what would have happened if Satoshi had set the max supply at 19 million BTC and what would be the price of 1 BTC today?