64 more halvings to go for bitcoins

[Lutpin]

Well it is about time for miners to spend /dumb their btc more wisely! and maybe ..maybe i say to become a little more strong hands.. this will benefits us all...!

As the reward decreases,miners will have to sell their holdings to cover the cost of mining.This will reduce the prices of bitcoin due to high supply

That's bullshit and frankly I think even you youself know it.
According to cmc we have a trading volume of $81,831,700 in the last 24 hours.
Even if all miners were to dump all their coins instantly, the "dump by miners" would cover only 1.42% of that volume.
At an available supply of 15,754,767BTC currently (if we ignore those coins not available to the market due to some reasons), the newly mined cois also are rather uninfluential in terms of "supply" seen from an market analytical point.

Well If bitcoin price continues to climb like it did each halving may have the exact same effect (the only difference may be that transaction fees will take a bigger proportion each time, at some point transaction fees will be the main reward).

Bolding the last sentence of my post without reading and understanding it doesn't really help the point you're trying to make.
Go back, read my post and answer in a way that builds on it rather than ignoring totally what I have written before that last bolded part.

[DeathAngel]

I don't think we need to worry about what happens in 64 halvings time. We will all be dead
I'm more concerned & interested about the immediate future.

[ObscureBean]

64 halvings x 4 years is equals to 256 years. So possible bitcoin will probably exist 260 years from now. It is bad new or good news. It maybe bad new for future generations but of us it is good news since we will not be able to witness the end of bitcoin.

Then after reading that facts, i decided to hoard some of my btc and I will open it and use after 20 years, since at that time bitcoin will still be alive.

Will you share your thoughts about it and correct me if i am wrong, I believe that multiple minds is better than one.

256 years is long time indeed but according to current estimates, mining should end a lot earlier than that, probably around year 2140. Still, it's extremely unlikely anyone of us here will live to see that day, we'll be relics by then  Except of course if science finds a way to make humans immortal 

[Kakmakr]

I don't think we need to worry about what happens in 64 halvings time. We will all be dead
I'm more concerned & interested about the immediate future.

Well, you should be worried, because most people leave some Bitcoins for their kids and they might leave it for their kids and so on and so on. The fact is, the Halving is only something that effects the miners rewards. Once these Halvings are done, we might hopefully see transactions increasing beyond the point where miners rewards have to be necessary and it would be replaced by tx fees. ^smile^

[~Bitcoin~]

4years per halving aprox and it is actually total 33 halving when block reward will go from 1 satoshi per block to zero satoshi means no any new bitcoin will be rewarded for mining limiting total supply of bitcoin to 21 million.

[romero121]

That's really a good information for most of the bitcoin users. Now this gives better understanding to the people get aware about its growing potential. Also people starts trusting it more than the present.

[TemplarKnightUK]

Well it is about time for miners to spend /dumb their btc more wisely! and maybe ..maybe i say to become a little more strong hands.. this will benefits us all...!

As the reward decreases,miners will have to sell their holdings to cover the cost of mining.This will reduce the prices of bitcoin due to high supply

That's bullshit and frankly I think even you youself know it.
According to cmc we have a trading volume of $81,831,700 in the last 24 hours.
Even if all miners were to dump all their coins instantly, the "dump by miners" would cover only 1.42% of that volume.
At an available supply of 15,754,767BTC currently (if we ignore those coins not available to the market due to some reasons), the newly mined cois also are rather uninfluential in terms of "supply" seen from an market analytical point.

Well If bitcoin price continues to climb like it did each halving may have the exact same effect (the only difference may be that transaction fees will take a bigger proportion each time, at some point transaction fees will be the main reward).

Bolding the last sentence of my post without reading and understanding it doesn't really help the point you're trying to make.
Go back, read my post and answer in a way that builds on it rather than ignoring totally what I have written before that last bolded part.

Do you mean dumping them all as they are mined? I think what he was meaning was perhaps that they have large stocks of BTC held that they can dispose of to cover their fiat liabilities (electricity, ASIC costs, etc), but I think most mining operations sell as they produce.

Even still, those BTC already in circulation do, as you mention, vastly outpower miners in terms of influencing the market (if not the functionality) of unspent outputs.

4years per halving aprox and it is actually total 33 halving when block reward will go from 1 satoshi per block to zero satoshi means no any new bitcoin will be rewarded for mining limiting total supply of bitcoin to 21 million.

Also, frankly, incorrect; I believe in Satoshi's original paper and later communication from Core that if deflation becomes significant the size of the output column will be increased beyond eight decimal places.

[Lutpin]

Do you mean dumping them all as they are mined? I think what he was meaning was perhaps that they have large stocks of BTC held that they can dispose of to cover their fiat liabilities (electricity, ASIC costs, etc), but I think most mining operations sell as they produce.

It's a bullshit reasoning. Even if a miner was to hold a certain amount of the supply as hard saving, they wouldn't continually dump them in order to continue mining while not making any profit with it, maybe short time, but at some point the miner would cut his expenses, if being in red numbers, rather than burn through his savings.
You can't make a red letter operation profitable by wasting your savings to keep it running. It's economically  stupid and miners act anything but stupid.

[AioFox]

64 halvings x 4 years is equals to 256 years. So possible bitcoin will probably exist 260 years from now. It is bad new or good news. It maybe bad new for future generations but of us it is good news since we will not be able to witness the end of bitcoin.

Then after reading that facts, i decided to hoard some of my btc and I will open it and use after 20 years, since at that time bitcoin will still be alive.

Will you share your thoughts about it and correct me if i am wrong, I believe that multiple minds is better than one.

I think i will be done with Bitcoins after 5 halvings have occured; because i just don't see the value of Bitcoin rising at great heights in order to compensatie for the block halving. More and more miners would quit and the end might be sooner than you think.

[Digitalbitcoin]

Halving is predefined calculations after every 210000 blocks mined. By the calculation it tooks 2145 of year to solve all blocks. And after solving every block all plates will get destroyed.

[coinplus]

Being an average Joe, as per my understanding, halving has nothing to do with survival of bitcoin system. After 21M bitcoins mined, the block reward would be zero. So, there will not be any possibility for further halving (assuming 1 satoshi still not divisible then too). But new blocks will be kept on created with zero newly generated bitcoins.
(miner's reward would be purely tx fees, that could be even more than 500 or 1000 BTC based on tx volume)

Only number of bitcoins are limited. But new blocks will be keeping coming unlimited for every 10 minutes till this universe (or internet) survives. As long as new blocks are generated there will not be any worry for bitcoin ecosystem.

[Digitalbitcoin]

Halving is a procedure and we must have to take it casual. Because its a process.

But if consider 1st and 2nd halving it gives a short example of effect on cryptocurrency market as at the time of 1 st halving BTC price in USD was just $4 to $5. At the time of second haling price of bitcoin was $630+ it shows halving impacts inversely to the price of bitcoin.

So as it goes years for ending halving can increase price of bitcoins with indirect proportion.

[greatr]

Halving is predefined calculations after every 210000 blocks mined. By the calculation it tooks 2145 of year to solve all blocks. And after solving every block all plates will get destroyed.

thats true, for me its really great to know that bitcoin halvings are in code and it is impossible for any person to cancel it, i really like bitcoins to be honest because its not controlled

[rizzlarolla]

61 halvings x 4 years is equals to 256 years. So possible bitcoin will probably exist 260 years from now.

(Despite the numbers being wrong, how do you get to 61 halvings?!)
What gives you the idea that with the block reward reaching 0 at block #6,930,000 bitcoin will stop existing?
Bitcoin got the potenatial to exist/be used long over the time of block rewards and new bitcoins being added to the current supply.
Whether or not it will, that's another point for discussion entirely.
But there surely will not be a point where with a single block, bitcoin will stop being used/to exist.

https://news.bitcoin.com/halving-no-affect-bitcoin/

I want you to read this article and look the last paragraphs that says:

"There will be 64 more halvings as the years go by and the network continues to progresses. What we do know is there will only be 21 million BTC, and that the system is far superior to the likes of the Federal Reserve and fractional banking practices."

So far as I read it, it says 64 halvings more to go. After you read it pls comment me your opinion on this.

My opinion?
news.bitcoin is bollocks.
This thread is a hive of misinformation. (good luck getting anyone to hear you Ludpin, above the noise of their sig spamming)
And there will be a total of 34 halvings.

See https://en.bitcoin.it/wiki/Controlled_supply

[PacePay]

About 75% bitcoins are mined already so I think within a two or three years the remaining will also be mined so then miners will not need any halving, as after that there will be nothing to mine, after that bitcoin will be used as a normal currency and will have already a highest value.

[rizzlarolla]

About 75% bitcoins are mined already so I think within a two or three years the remaining will also be mined so then miners will not need any halving, as after that there will be nothing to mine, after that bitcoin will be used as a normal currency and will have already a highest value.

Read the post above, yo spammer.
What you imagined will happen is irrelevant and wrong.

[Jamada]

After 4 more halving, the halving will have very little effect on the price as most of coins are mined and the transaction fee is higher than the block reward.

[lister storm]

I don't think we need to worry about what happens in 64 halvings time. We will all be dead
I'm more concerned & interested about the immediate future.

well there is always chance that there will be invincibility potion though i think you are right it will be not our business but they will most probably push the price up

[Blackmet]

So after every halvings we will get limited cryptocurrency with very expernicve price, but in 200 years everything can change a lot, better to live nowdays.

[Snorek]

Bitcoin is only seven years old. It is understandable it will experience every problem of new technologies.
I see that people are unsure and uncertain about far future of BTC but I assure you, this is not what we should worry about now.
Do you really care what will happen in next 40 years, after 12th halving? When block reward will be limited to about 0.024 BTC?
And after 33th halving Block reward will be exactly 0. Where the hell 64 came from in the first place?
As Lutpin said, Bitcoin won't stop existing just because block reward will be exactly zero.
At that point in time miners would not be 'mining' anymore but instead they will switch to take care about managing transaction.
It is hard to speculate about this now, but in theory this should be more that enough to keep Bitcoin network alive indefinitely as long a bitcoin will be used.