# of bitcoin FINITE???

[brendanjhwu]

http://www.investopedia.com/articles/investing/051414/could-one-bitcoin-come-be-worth-1-billion-qa.asp

Is it true?

How do people know how many bitcoins are in circulation right now?

[Harry Hood]

It is true.

https://blockchain.info/charts/total-bitcoins

The rate at which bitcoins are released/mined slows down (sort of) as more are mined. Currently the number of bitcoins released in each package mined is 25, that will reduce to 12.5 at somepoint in the future (currently expected to be early 2016).

Here's more information for you -> https://en.bitcoin.it/wiki/Controlled_supply

[Redrose]

It is true.

https://blockchain.info/charts/total-bitcoins

The rate at which bitcoins are released/mined slows down (sort of) as more are mined. Currently the number of bitcoins released in each package mined is 25, that will reduce to 12.5 at somepoint in the future (currently expected to be early 2016).

Here's more information for you -> https://en.bitcoin.it/wiki/Controlled_supply

The block reward is constantly the same 25 untile next time halving! As the overall hashing power and difficulty increase, the same number of hashing power are getting less reward!

[Amph]

for now there we are still in a inflationary regime, because the coin produced per day are still increasing, we are at 150 per hour or 2600 per day, with the halving, still 1800 per day will be produced

with a simple math of number of coin produced per day x 4 years, then you just divide by two the first number

so 7200 x 365 x 4 + 3600 x 365 x 4 ecc...

7200 and 3600 are a bit in the low estimate, they are actually more toward 7600 and 3800

[BillyBobZorton]

for now there we are still in a inflationary regime, because the coin produced per day are still increasing, we are at 150 per hour or 2600 per day, with the halving, still 1800 per day will be produced

with a simple math of number of coin produced per day x 4 years, then you just divide by two the first number

so 7200 x 365 x 4 + 3600 x 365 x 4 ecc...

7200 and 3600 are a bit in the low estimate, they are actually more toward 7600 and 3800

By about 2020 the new BTC that comes inside the Bitcoin ecosystem will be so negligible that it will not even be considered inflationary anymore. By then the price will be way higher than it is due maths, and so I hope that everyone in here has got a decent stack when the time comes.



As you can see here, by 2025 and beyond is when shit get super serious, and by then Bitcoin should be getting headlines pretty often in TV, and that's exactly a decade from now, which is accurate.

[brendanjhwu]

It is true.

https://blockchain.info/charts/total-bitcoins

The rate at which bitcoins are released/mined slows down (sort of) as more are mined. Currently the number of bitcoins released in each package mined is 25, that will reduce to 12.5 at somepoint in the future (currently expected to be early 2016).

Here's more information for you -> https://en.bitcoin.it/wiki/Controlled_supply

I'm not that familiar with bitcoin mining that much. What is a package? Is it the same thing as a block?

[odolvlobo]

I'm not that familiar with bitcoin mining that much. What is a package? Is it the same thing as a block?

I have never heard anyone call it a "package" before. "Block" is more accepted.

[Hazir]

Bitcoins are created each time a user discovers a new block. The rate of block creation is approximately constant over time: 6 per hour. The number of Bitcoins generated per block is set to decrease geometrically, with a 50% reduction every four years. The result is that the number of Bitcoins in existence will never exceed 21 million. Speculated justifications for the unintuitive value "21 million" are: it matches a 4-year reward halving schedule; or the ultimate total number of Satoshis that will be mined is close to the maximum capacity of a 64-bit floating point number.

If you want more about finite supply of bitcoins and calculations you can visit: https://en.bitcoin.it/wiki/Controlled_supply

And you can also watch video explanation here: https://www.youtube.com/watch?v=JuWYLAtz3Y4

Reading Bitcoin FAQ can also be good idea: https://bitcoin.org/en/faq

[n2004al]

http://www.investopedia.com/articles/investing/051414/could-one-bitcoin-come-be-worth-1-billion-qa.asp

Is it true?

How do people know how many bitcoins are in circulation right now?

We can know the exact amount of bitcoins produced in every moment but never those in circulation. To many bitcoins can  be lost or blocked or destroyed at the computers in which they were.

[zero01]

maybe yes and maybe not
but the possibility of magnitude is not, because bitcoin as the money is there in the real world

[christycalhoun]

bitcoin was made to be finite so that it can not be inflated or printed out by a central organaziation. Satoshi wanted it to be like digital gold.

[pattu1]

This is a pretty old article (September 2014).
Although the number of bitcoins is finite, it doesn't automatically mean that bitcoin's price will shoot up if adoption increases. You could have bitcoins circulating at a faster rate.

[randy8777]

This is a pretty old article (September 2014).
Although the number of bitcoins is finite, it doesn't automatically mean that bitcoin's price will shoot up if adoption increases. You could have bitcoins circulating at a faster rate.

wider adoption means more people spending their coins, but also more people holding their coins in the hope the price increases. and by the time wallstreet pops up and start with buying up plenty of coins the price will shoot up like a rocket.

[n2004al]

This is a pretty old article (September 2014).
Although the number of bitcoins is finite, it doesn't automatically mean that bitcoin's price will shoot up if adoption increases. You could have bitcoins circulating at a faster rate.

wider adoption means more people spending their coins, but also more people holding their coins in the hope the price increases. and by the time wallstreet pops up and start with buying up plenty of coins the price will shoot up like a rocket.

Correct the reasoning of pattu1 according to me. But even it wasn't true this, even the circulation, I think, cannot stop the increase of price. The number of people in the world it will be much higher and every day will be new people in the world of bitcoin and new people which born. Those factors will be more important in question of the price of bitcoin than the fast circulation. In this way they will eliminate day by day the fast circulation and will increase the price of bitcoin.

[deisik]

This is a pretty old article (September 2014).
Although the number of bitcoins is finite, it doesn't automatically mean that bitcoin's price will shoot up if adoption increases. You could have bitcoins circulating at a faster rate.

wider adoption means more people spending their coins, but also more people holding their coins in the hope the price increases. and by the time wallstreet pops up and start with buying up plenty of coins the price will shoot up like a rocket.

No one from Wall Street will invest heavily in Bitcoin. This is a vain hope. Unless they (miners) raise the limit and do something with the halving, Bitcoin adoption rate is doomed to stagnate. This doesn't necessarily mean that the price will collapse, but it will if just a few of the top Bitcoin holders decide to part with their stash...

And some of them most certainly will (for a multitude of reasons)

[pattu1]

This is a pretty old article (September 2014).
Although the number of bitcoins is finite, it doesn't automatically mean that bitcoin's price will shoot up if adoption increases. You could have bitcoins circulating at a faster rate.

wider adoption means more people spending their coins, but also more people holding their coins in the hope the price increases. and by the time wallstreet pops up and start with buying up plenty of coins the price will shoot up like a rocket.

Correct the reasoning of pattu1 according to me. But even it wasn't true this, even the circulation, I think that cannot stop the increase of price. The number of people in the world it will be much higher and every day will be new people in the world of bitcoin and new people which born. Those factors will be more important in question of the price of bitcoin than the fast circulation. In this way they will eliminate day by day the fast circulation and will increase the price of bitcoin.

Yes, that is true. It is the rate of circulation and the price which will have to adjust with higher adoption. Most probably, both will increase. That is why I said that it doesn't automatically mean that bitcoin's price will shoot up if adoption increases

[pereira4]

This is a pretty old article (September 2014).
Although the number of bitcoins is finite, it doesn't automatically mean that bitcoin's price will shoot up if adoption increases. You could have bitcoins circulating at a faster rate.

wider adoption means more people spending their coins, but also more people holding their coins in the hope the price increases. and by the time wallstreet pops up and start with buying up plenty of coins the price will shoot up like a rocket.

No one from Wall Street will invest heavily in Bitcoin. This is a vain hope. Unless they (miners) raise the limit and do something with the halving, Bitcoin adoption rate is doomed to stagnate. This doesn't necessarily mean that the price will collapse, but it will if just a few of the top Bitcoin holders decide to part with their stash...

And some of them most certainly will (for a multitude of reasons)

Maybe not officially, but you never know what wall street people do with their personal wealth at a personal level... like, someone working in a trust fund firm may not get their firm involved, but they may speculate with Bitcoin themselves and not tell anyone. In fact this is happening right now, bankers and professional traders own Bitcoin, they just don't say it in public.

[deisik]

No one from Wall Street will invest heavily in Bitcoin. This is a vain hope. Unless they (miners) raise the limit and do something with the halving, Bitcoin adoption rate is doomed to stagnate. This doesn't necessarily mean that the price will collapse, but it will if just a few of the top Bitcoin holders decide to part with their stash...

And some of them most certainly will (for a multitude of reasons)

Maybe not officially, but you never know what wall street people do with their personal wealth at a personal level... like, someone working in a trust fund firm may not get their firm involved, but they may speculate with Bitcoin themselves and not tell anyone. In fact this is happening right now, bankers and professional traders own Bitcoin, they just don't say it in public.

What are your sources?

Personally, I don't believe in such stories. Wall Street tycoons are not fools in general. This doesn't prevent them from making fools of themselves sometimes, though, but this is obviously not the case. They would "invest" into Bitcoin with one and only one purpose, that is, to get profits. I think it would be bordering on wishful thinking to expect them to do anything just out of some altruistic motives (for example, to expand Bitcoin ecosystem). It is apparent (at least to me) that many hope that their money if poured into Bitcoin would boost the price, but usually they are not the ones who is profited from...

In other words, they don't put their money into what otherwise would be a Ponzi scheme