memai
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Activity: 52
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March 30, 2015, 02:30:50 PM |
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Congrats Bitcoin !
Good news for Bitcoin's Fan
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"Your bitcoin is secured in a way that is physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter a majority of miners, no matter what." -- Greg Maxwell
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nambich
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Activity: 28
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March 30, 2015, 03:49:19 PM |
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Wowww ! 2/3 of Bitcoin has been mined. Not bad ! Congratz to Miners !
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BillyBobZorton
Legendary
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Activity: 1204
Merit: 1028
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March 30, 2015, 03:57:27 PM |
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March, the 30th of 2015.
Today's a big day. The 14 millionth BTC shall be mined in a few hours. This may be terrible news.
This equals to two thirds of all BTC, and I wonder if this was what Satoshi Nakamoto had in mind. When I discovered BTC, I learned the idea of a money supply which would be fully controlled and slow-growing. This over 150 years, but today we see that after only 6 years, less than one tenth of the supposed time to mine all BTC, two thirds have already been mined. Was that the plan? Or could there be too many miners, accelerating the growth of money supply faster than planned?
Dude you need to take some classes on what deflation is and how inflation is to be avoided since if you want that we already got fiat. The release of coins on BTC is perfect and favors those that took the risk to be there at the beginning the most. |
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bryant.coleman
Legendary
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Activity: 3654
Merit: 1217
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March 31, 2015, 11:35:03 AM |
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Wowww ! 2/3 of Bitcoin has been mined. Not bad ! Congratz to Miners !
Out of the 14 million plus coins, how many are lost coins? A lot of people (especially the earliest miners) lost their private keys due to negligence.... |
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Lauda
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Activity: 2674
Merit: 2965
Terminated.
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March 31, 2015, 12:39:21 PM |
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Out of the 14 million plus coins, how many are lost coins? A lot of people (especially the earliest miners) lost their private keys due to negligence....
No. It's quite hard to get a total sum, or estimate. We can't really know which address is lost. There was one thread, which I can't seem to find, where known losses were being recorded. I highly doubt that we could say that it is 'a lot' maybe in a few years. It's definitely within a reasonable amount, maybe even under 100k? Anyhow Bitcoin can be divided, so this should not be a problem. |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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vankoovo
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Activity: 51
Merit: 0
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March 31, 2015, 01:37:58 PM |
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Congratulations to Miners ! You have been working hard during all this time
2/3 of total bitcoin has been mined
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bryant.coleman
Legendary
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Activity: 3654
Merit: 1217
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March 31, 2015, 03:17:20 PM |
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No. It's quite hard to get a total sum, or estimate. We can't really know which address is lost. There was one thread, which I can't seem to find, where known losses were being recorded. I highly doubt that we could say that it is 'a lot' maybe in a few years. It's definitely within a reasonable amount, maybe even under 100k?
Anyhow Bitcoin can be divided, so this should not be a problem.
Here is the thread: https://bitcointalk.org/index.php?topic=7253.0I agree that it is very difficult to measure accurately. |
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AtheistAKASaneBrain
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March 31, 2015, 05:33:14 PM |
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Out of the 14 million plus coins, how many are lost coins? A lot of people (especially the earliest miners) lost their private keys due to negligence....
No. It's quite hard to get a total sum, or estimate. We can't really know which address is lost. There was one thread, which I can't seem to find, where known losses were being recorded. I highly doubt that we could say that it is 'a lot' maybe in a few years. It's definitely within a reasonable amount, maybe even under 100k? Anyhow Bitcoin can be divided, so this should not be a problem. Yeah it shouldn't be a problem, we'll never make use of single satoshis anyway. I heard someone said that the entire Bitcoin economy could, theorically, work on a single BTC. Is this true?? |
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Minerjoe
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March 31, 2015, 07:36:17 PM |
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Don't worry, bitcoin mining reward will be halved every 4 years So, bitcoin won't inflate too much anymore  And, when next halving happens. You will see bitcoin price increased Yes, my thoughts exactly. The only problem is the fact we cannot rely on block halving to support and increase the price. |
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Mikestang
Legendary
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Activity: 1274
Merit: 1000
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March 31, 2015, 09:49:24 PM |
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It's not a big deal, nothing changed.
There are still 1/3 of Btc waiting to mine.
Yup, and I think the last 1/3 is going to be worth way, way more than the first 2/3. |
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manselr
Legendary
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Activity: 868
Merit: 1004
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March 31, 2015, 09:53:45 PM |
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It's not a big deal, nothing changed.
There are still 1/3 of Btc waiting to mine.
Yup, and I think the last 1/3 is going to be worth way, way more than the first 2/3. It's all about the last third, now things start getting heavy, when this baby hits halving we are going to see some serious shit. |
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Mikestang
Legendary
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Activity: 1274
Merit: 1000
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March 31, 2015, 11:02:18 PM |
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I heard someone said that the entire Bitcoin economy could, theorically, work on a single BTC. Is this true??
Yes, 1 btc is infinitely divisible, although right now the smallest denomination recognized is 1 satoshi, 0.00000001 BTC. So if only 1 btc existing we could divide it down as small as was required. |
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moko666
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March 31, 2015, 11:18:58 PM |
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yes, when most of the bitcoins will mined then people will loss their interest in mining if it bitcoin price won't rise up
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9kv
Full Member
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Activity: 145
Merit: 100
Learning
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April 01, 2015, 12:05:55 AM |
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what happens when we hit the cap? there has got to be some economic theory about that...
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