64 more halvings to go for bitcoins

[groll]

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.

[1715701310]

1715701310

[vodaljepa]

So we got 61 more times to make it more exciting than before

[Lutpin]

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.

[groll]

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.

[Xester]

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.

260 years is long way to go. Maybe at that time there will be a new currency or a new financial system will took place. Bitcoin having to survive a century is a good news to me. It will encouraged me to save my bitcoins for a long years since bitcoin can be a potential legal tender given that long time of existence. So like you said I will start to save my bitcoins for future use.

[nanonymousx]

If we want to reach 21 mil or 64 halving, it will take much longer than 260 years, it is much harder to find a block till the end.

[Lutpin]

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

We'll reach a point where the block reward falls below 1 satoshi.
With block #6,930,000 a total of 20,999,999.97690000 of the 21,000,000BTC total supply will be mined.
That's after 33 halvings and as 2 already have passed, it's 31 from now.
Do you really think the halvings after that will have any impact?

[7788bitcoin]

The huge reward in the beginning of bitcoin was to encourage more people to participate and to have sufficient circulating coins to allow usability. I think people have already thinking and start working on the fee-based block reward- block size scale up will be the next step.

[helloeverybody]

I was actually just wanting to ask this question on how many more halvings we will get, If miners are still mining when the bloick reward is only a few satoshis then isnt 1 bitcoin going to have to be worth about a few million to justify running a miner?  I was really under the impression that we would have mined all blocks in about 60 years and then instead of mining any additional blocks the miners would just be rewarded with transaction fees. It will be interesting in about 20 more years if bitcoin actually is still sustaining itself then the price surely will be much higher than we might be thinking at the moment.

[CoinBreader]

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...!

[Lutpin]

If miners are still mining when the bloick reward is only a few satoshis then isnt 1 bitcoin going to have to be worth about a few million to justify running a miner?

We'll see about that in due time. Nobody can currently predict that, as it's gonna be relating on alot of factors yet unknown to us.

I was really under the impression that we would have mined all blocks in about 60 years

And then we just stop using bitcoins at all?

instead of mining any additional blocks the miners would just be rewarded with transaction fees.

Miners will still have to mine blocks in order to receive the transaction fees from included transactions.
No transactions are being confirmed without new blocks being mined.
If there are no new blocks being mined at one point, all bitcoins will be frozen in the addresses they currently are.
That being said, this isn't going to happen.
You're confusing the block reward being 0 with no new block being mined. The first will happen, the latter not.

It will be interesting in about 20 more years if bitcoin actually is still sustaining itself then the price surely will be much higher than we might be thinking at the moment.

It's interesting right now. It's gonna be interesting tomorrow.

[Jamada]

So we got 61 more times to make it more exciting than before

Next halving will be less excited than this. After 5 more halving, the transfaction fee will be more than the block reward.

[helloeverybody]

If miners are still mining when the bloick reward is only a few satoshis then isnt 1 bitcoin going to have to be worth about a few million to justify running a miner?

We'll see about that in due time. Nobody can currently predict that, as it's gonna be relating on alot of factors yet unknown to us.

I was really under the impression that we would have mined all blocks in about 60 years

And then we just stop using bitcoins at all?

instead of mining any additional blocks the miners would just be rewarded with transaction fees.

Miners will still have to mine blocks in order to receive the transaction fees from included transactions.
No transactions are being confirmed without new blocks being mined.
If there are no new blocks being mined at one point, all bitcoins will be frozen in the addresses they currently are.
That being said, this isn't going to happen.
You're confusing the block reward being 0 with no new block being mined. The first will happen, the latter not.

It will be interesting in about 20 more years if bitcoin actually is still sustaining itself then the price surely will be much higher than we might be thinking at the moment.

It's interesting right now. It's gonna be interesting tomorrow.

Sorry my post was confusing when you break it down like that.  What i mean is i thought the block reward would have come to an end in about 60 years,  not that we would stop mining blocks.

Obviously i don't mean we will stop using bitcoin because the block reward has stopped,  i was meaning the reward would instead come as fees.

This is all assuming bitcoin will survive for that long which I'm pretty sceptical about.  Heres hoping though.

[coinzat]

only god knows will bitcoin be alive till all its coins are mined or it will disappear before that. you are talking about more than 2 centuries and there will be a lot of inventions during them that one of them may end bitcoin

[1Referee]

So we got 61 more times to make it more exciting than before

Next halving will be less excited than this. After 5 more halving, the transfaction fee will be more than the block reward.

Those that already experienced the block halving of this month will be less excited for the next block halving, that's right. But as time goes by, more and more people enter the world of Bitcoin, which basically means that there will surely be another round of halving hype mania.

[drwtsn32]

If Bitcoin is going to last for 256 years, we presume that the price that time will be sky high.
Now, no one's going to let it die if the price is super significant to everyone. Unless, some business tycoon sabotages the market for his own sake.
Another, a new currency may probably come by then.

[kryptqnick]

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 thought that halving will not kill btc eventually. It will cost even more in the future, when there will be more people wanting to have them and a limited amount of btc

[TemplarKnightUK]

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 is that a journalistic source which can conflate "affect" and "effect" is hardly to be trusted.

[Barnabe]

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

We'll reach a point where the block reward falls below 1 satoshi.
With block #6,930,000 a total of 20,999,999.97690000 of the 21,000,000BTC total supply will be mined.
That's after 33 halvings and as 2 already have passed, it's 31 from now.
Do you really think the halvings after that will have any impact?

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).

[btvGainer]

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