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Author Topic: What happens to BTC after they're all mined and billionaires own majority btc's?  (Read 4144 times)
tobi4255
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September 21, 2017, 11:55:54 PM
 #21

Bitcoin will rocket.
It will take many years before bitcoin is completely mined though.
15-30 years maybe.

I also estimate bitcoin will cost 500 000$

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susila_bai
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September 22, 2017, 02:15:22 AM
 #22

If i am not wrong bitcoin will be used as an another alternative coin and its value will also become 1satoshi = 1 $. dont know about mining.














 

 

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aleksej996
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September 22, 2017, 02:17:16 PM
 #23

Bitcoin will rocket.
It will take many years before bitcoin is completely mined though.
15-30 years maybe.

I also estimate bitcoin will cost 500 000$

15 years Cheesy That is cute. More like 115 years.
It should be around the year 2140, but it will definitely be in the 22nd century.

smokeydog
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September 22, 2017, 10:27:33 PM
 #24

considering that it's mostly wealth to absurdly wealthy people mining them now and has been for a while Seeing how more and more transactions are going to be paid via bitcoin (and rich people own most of the companies that GET paid in these transactions) - so I'm curious how it's going to be different?

Why would you assume the use or hoarding of bitcoin to be different then all of history for ________.  Fill in the blank, with gold, silver copper, food,energy, you name it.  Some people save and invest others save nothing and consume.   Some look to the future while others consume all they can here and now.

Like the old line I have heard all my live.   When XYZZY gets expensive then only the rich will have XYZZY.   I was not born rich.   I borrowed to get through college.  Before that I was a bricklayer.  It took me 30 years to become what most would consider rich and I don't consider myself rich.  I drove old cars 30 years ago and I drive old cars now.   I have always saved to pay for things when possible.  I have not had a loan for over 25 years and don't plan to every borrow again.  My father chose to spend what he earned on tobacco and booze,  He died of lung cancer at 58.  My mother spent her life bitching about what other's had and never acquired anything of her own which of course was always someone else's fault.

My plan for bitcoin is the same as all my investments.   When bitcoin seems to be below what I see as value I will buy and if I think the current prices is too high to represent value I will sell and look for something else.

Rich people have many things I do not and that is not an issue with me.   If the so called rich hoard all 21 million bitcoins, that's fine with me.  There will always be other things to invest in.   I was an investor before and will remain so if all Bitcoins are lost. 

My advise is not to dwell on what others have, spend or what they hoard.  You can't control it and the time you dwell on it is time you have lost forever.  People can follow Bernie Sander, wait for his promises to come around or they can dig in and find a way.   Anyone who is not working 60 hours a week in the complex world we have now is not going to make it and there is more to work then just the kind that gives us a paycheck each week.  I have not had what most consider a real job for 20 years yet, I still work at least 60 hours a week.

Don't worry about who mines bitcoins or what they do with them after the dig them out of the mine.  It won't get you anywhere.
pc1986
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September 23, 2017, 04:07:51 AM
 #25

If so, then I think. to the moment by btc is very high value and more than Diamond.
CryptoClown
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September 23, 2017, 09:49:50 AM
 #26

No one can really predict what will happen to Bitcoin if of all it are already mined. But I think it will still be in circulation since people will try to HODL as much as possible expecting for its value to rise more than what it is today. Better not concern yourself about this as it is too early to speculate. Let's just enjoy what we have now and earn Bitcoin as many as possible.  Grin

gabber007
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September 24, 2017, 02:37:15 PM
 #27

if so, it would be unpopular with ordinarily people and replaced with any other coin
Cryptoraptor
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September 26, 2017, 11:44:01 AM
 #28

I'm a newb, and curious what happens to bitcoin after they're all mined (considering that it's mostly wealth to absurdly wealthy people mining them now and has been for a while, aside from cloud mining sure but that's not that many is it? IDK), but curious what is the vision 10-15 years down the road it's possible that most the very wealthy people own BTCs? Seeing how more and more transactions are going to be paid via bitcoin (and rich people own most of the companies that GET paid in these transactions) - so I'm curious how it's going to be different?

Thanks!

 I think people would have moved on to another coin if the flow of BTC were restricted to the wealthy/government.

Long answer is the miners need to be profitable to mine, so they will wind up selling a large portion of the BTC they mine.  There is no point in holding everything they mine, they need to contribute to the BTC world.  When there is no more BTC to mine then the transaction fees might make up for the lost revenue.  Basically, the miners need customers.
Cryptomath
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September 27, 2017, 02:28:29 PM
 #29

I think then Bitcoin will be become more valuable then Dimond

it's definitely more useful than diamonds. Even silver is more useful than diamond!

Well since diamond is one of the strongest known materials on earth it's actualy pretty useful and there are a lot of industries relieing on diamonds to cut or to drill into weaker materials Wink

IAMYOURLEADER
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October 03, 2017, 02:03:29 AM
 #30

Because the supply is already mined probably the price of 1 btc will cost equivalent to a crown decorated with precious stones like diamonds.

tiger2monkey
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October 03, 2017, 03:58:02 AM
 #31

That is a good imagination and interesting. If billionaires own majority of the bitcoins and do not use them (they hold the coins), the circulation will be low and the transaction fee will be low as well. Miners cannot generate new coins and they have to earn revenue from transaction fees. If transaction volume is low and transaction fee is low, miners will be gone and bitcoin network will be in danger unless BTC changes to use POS or something else...

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October 03, 2017, 04:45:50 AM
 #32

Will the miners stop mining because they get fewer and fewer bitcoin (as rewards)?
synthlock
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October 03, 2017, 01:07:24 PM
 #33

Hopefully, the coin is so valuable at that point that even though the mining rewards are low, they are still monetarily high enough to justify mining. Remember, mining is only supposed to be profitable with the cheapest electricity available, so it doesn't have to give that high of a subsidy in the big picture.
PequenaGeovana
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October 03, 2017, 04:17:27 PM
 #34


The value will increase with the passage of the years, when they can not be more mineralized it will be equal to diamond / gold / petroleum
GoodOne
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October 03, 2017, 10:36:19 PM
 #35

I think then Bitcoin will be become more valuable then Dimond

it's definitely more useful than diamonds. Even silver is more useful than diamond!

Well since diamond is one of the strongest known materials on earth it's actualy pretty useful and there are a lot of industries relieing on diamonds to cut or to drill into weaker materials Wink


Diamonds are valuable but its price is way overpriced.
Main part of diamonds price was created and pumped by smart marketers.

Search about it and you will be amazed how people were fooled by simple marketing techniques  Wink
savushkinTA
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October 04, 2017, 06:49:03 PM
 #36

Block rewards will be replaced by mining fees in every aspect.
When these billionaires move their coins, they will pay a fee to the miner and anyone can be a miner.If they never move their coins, then it is like they don't exist and poses no problems in the first place.

spunkybd
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October 05, 2017, 06:59:43 PM
 #37

Bitcoin can always be mined from transaction fees and satoshi's can be infinitely divisible just as bitcoin can, Core would just add 0's to the end of the sat's, this is harder than it sounds obviously, but is possible.

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Zagitta
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October 05, 2017, 07:48:39 PM
 #38

Billionaires will own the majority of Bitcoins because they bought them when they were worthless and then became billionaires when the price went up. Cheesy
spunkybd
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October 05, 2017, 11:41:55 PM
 #39

Billionaires will own the majority of Bitcoins because they bought them when they were worthless and then became billionaires when the price went up. Cheesy


True. None of us stand a chance anymore.  Cry

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adrov
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October 07, 2017, 06:37:03 PM
 #40

I think then Bitcoin will be become more valuable then Dimond

it's definitely more useful than diamonds. Even silver is more useful than diamond!

Even toilet paper is more useful than silver... I like your logic though Smiley

To stay on-topic. There is no doubt BTC price will raise with time and will definitely raise exponentially (sky rocket) after it's completely mined. The real question here is, will BTC survive until then?
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