Osayo
Jr. Member
 Offline
Activity: 294
Merit: 1
|
 |
October 20, 2018, 09:34:21 PM |
|
Hello,
I have several questions?
The maximum supply amount of bitcoins in circulation is 21 Millions.
The amount that are mined so far is more than 16 Millions (more than 79%)
What is going to happen when the 21 Million limit is close to be reached?
Since it going to be more and more difficult to mine bitcoins, does that mean that the price of a transaction is going to be extremely expensive?
Thanks for taking the time to answer :-D
I honestly believe we all are aware of this fact already that Bitcoin will soon be completely mined. The 21 million will only be transferred between one person to another in exchange for whatever service. |
▀▀ PUBLISHprotocol [ WHITELIST ] ▀▀
The most viable blockchain based media platform |
|
|
|
|
|
|
|
|
|
In order to achieve higher forum ranks, you need both activity points and merit points.
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
ErmaburR
Newbie
Offline
Activity: 41
Merit: 0
|
|
October 22, 2018, 11:02:57 AM |
|
I think people will just focus on trading their crypto currency since, like you said, mining will be more expensive than the Bitcoin you'll actually mine. I also hooe that by the time we rea h the 21 million mark, that we can see a huge stabilization of price of bitcoin so it could be adopted in the near future.
When the limit comes of bitcoin mining and no more mining, the price will go higher and higher because if the demand increases and there are no bitcoin available in the market, the price will definitely increase. When more and more companies and shopping malls accept bitcoin as their payments, the use of bitcoin will increase and so the demand and so the price. |
|
|
|
|
Arsedunn
Jr. Member
Offline
Activity: 40
Merit: 1
|
|
October 24, 2018, 11:00:17 AM |
|
it becomes a more stableI think it will be a more stable market. there will be no sharp declines. it would be better if the distribution did not accumulate at the whales. When it reaches 21 million, it does not make much profit. market. there will be no sharp declines.
With a limit approaching, the coin will be rising high in the market and might have a high price for the supply will be limited and the demand maximum. This is the general economic intuition about the limited supply and excess demand. However, I read somewhere on the forum that the volume of Bitcoin might also rise as we approach the end of the 21million. In addition, a limit in the Bitcoin market might give way to ETH as well to prosper. The limit is not actually approaching because a lot of us here today would have been long gone when the last bitcoin will be mined but for real, as we are getting closer, the chances of seeing the bitcoin market soaring higher is most definitely there. Talking about the halving that would be occurring in the next few years, I can imagine this is something we would get to see bring about some huge spike in prices and then in the long run, we would get to see the price of the market going far from where we are now. What makes bitcoin what it is as well as every other cryptocurrency is the limit and for bitcoin this would speak for its growth and value, not to even talk about the ones that are lost. Who fixed that total supply of bitcoin? I don’t believe it because if we want to use bitcoin like our local currency and also want other currencies to be disappear from the market, then everyone will need cryptocurrency and when there is no bitcoin in the market what will he do? Therefore I think that in the future when controllers realize more demand for bitcoin, they will allow more mining. |
|
|
|
|
|
shiming
|
|
October 24, 2018, 11:33:37 AM |
|
When the BTC is completely excavated. At that time, I didn't know the price of BTC. But at the time, there were no mining incentives. It is estimated that mining incentives are commissions. The market has a big change. Look at the situation that was recognized at that time.
|
|
|
|
Lind
Member
Offline
Activity: 325
Merit: 26
|
|
October 28, 2018, 11:51:30 PM |
|
it becomes a more stableI think it will be a more stable market. there will be no sharp declines. it would be better if the distribution did not accumulate at the whales. When it reaches 21 million, it does not make much profit. market. there will be no sharp declines.
With a limit approaching, the coin will be rising high in the market and might have a high price for the supply will be limited and the demand maximum. This is the general economic intuition about the limited supply and excess demand. However, I read somewhere on the forum that the volume of Bitcoin might also rise as we approach the end of the 21million. In addition, a limit in the Bitcoin market might give way to ETH as well to prosper. The limit is not actually approaching because a lot of us here today would have been long gone when the last bitcoin will be mined but for real, as we are getting closer, the chances of seeing the bitcoin market soaring higher is most definitely there. Talking about the halving that would be occurring in the next few years, I can imagine this is something we would get to see bring about some huge spike in prices and then in the long run, we would get to see the price of the market going far from where we are now. What makes bitcoin what it is as well as every other cryptocurrency is the limit and for bitcoin this would speak for its growth and value, not to even talk about the ones that are lost. Who fixed that total supply of bitcoin? I don’t believe it because if we want to use bitcoin like our local currency and also want other currencies to be disappear from the market, then everyone will need cryptocurrency and when there is no bitcoin in the market what will he do? Therefore I think that in the future when controllers realize more demand for bitcoin, they will allow more mining. Arent POS coins with Masternodes, Higher Max Supply + designed for moving value around would get an advantage at that point? As their aim is to get money from the traffic and miners are forced out from start or soon after. Something like "crypto trade ships" sealing on the vast seas of crypto, transporting money. |
|
|
|
princeyeboah
Member
Offline
Activity: 714
Merit: 14
|
|
October 29, 2018, 01:08:10 AM |
|
This is where Bitcoin will have its greatest value on the market. When it reaches its 21M supply, it will become scarce and as the demand increases, the price and value will definitely increase as well.
|
|
|
|
Greed Dev
Member
Offline
Activity: 490
Merit: 10
|
|
October 29, 2018, 01:47:18 AM |
|
Hello,
I have several questions?
The maximum supply amount of bitcoins in circulation is 21 Millions.
The amount that are mined so far is more than 16 Millions (more than 79%)
What is going to happen when the 21 Million limit is close to be reached?
Since it going to be more and more difficult to mine bitcoins, does that mean that the price of a transaction is going to be extremely expensive?
Thanks for taking the time to answer :-D
I do not think Bitcoin will become more expensive. Because that 21 million Bitcoin will still be circulating in the market and it will never be lost. It is important that the GPU market will fall sharply. Because when Bitcoin has reached the limit, miners will no longer need to dig up more coins. Only Bitcoin is now profitable for them and when it reaches the limit, GPU sales will be greatly reduced. |
|
|
|
patarfweefwee
Member
Offline
Activity: 420
Merit: 14
|
|
October 29, 2018, 07:19:16 AM |
|
If that should happen then no one will mine anymore because as you say, the closer we are from the market limit, the more expensive it is to mine. Then everyone else will just trade with Bitcoin while other would just still mine Bitcoin because that is the only thing they know what to fo but that will be a very small population.
|
|
|
|
awik p
Full Member
Offline
Activity: 1526
Merit: 111
Pepemo.vip
|
|
October 29, 2018, 02:11:49 PM |
|
If that should happen then no one will mine anymore because as you say, the closer we are from the market limit, the more expensive it is to mine. Then everyone else will just trade with Bitcoin while other would just still mine Bitcoin because that is the only thing they know what to fo but that will be a very small population.
i think for development it will still work, because every transaction must be solved. but i think 21 million will not be released in all markets. of course they still set aside a portion to maintain market health |
|
|
|
wuvdoll
Legendary
Offline
Activity: 1442
Merit: 1025
|
|
October 30, 2018, 08:14:11 AM |
|
I honestly believe we all are aware of this fact already that Bitcoin will soon be completely mined. The 21 million will only be transferred between one person to another in exchange for whatever service.
Soon ? I am sure you know that most of us here will not even be alive by the time we get to mine the last bitcoin, and possibly the kid born today may probably be dead or as well as extremely old when that would happen, so I do not see that as something that can be classified as soon. Also, we have to understand based on what you have said, that this 21 million will not even be in circulation as even by now some have been known to be lost and even in the long run, more will be lost, so let's say eventually when bitcoin even becomes extremely usable, we may not even get to find so much in circulation. When the BTC is completely excavated. At that time, I didn't know the price of BTC. But at the time, there were no mining incentives. It is estimated that mining incentives are commissions. The market has a big change. Look at the situation that was recognized at that time.
Obviously, if bitcoin is still existing by then which I so much believe it will, the price is not even something we can even imagine in our heads, and may be by then though, 1 satoshi might have become an equivalent to the dollar. The market is pretty much changing each and every day, and there is absolutely no way we can get to not believe that this market would have increased in terms of adoption by then which we all know what that would have amounted to considering the fact that real life usage would even have become a thing in the end. |
|
|
|
|
Akermayya
Newbie
Offline
Activity: 10
Merit: 0
|
|
October 30, 2018, 09:04:50 AM |
|
I think the number of 21 million BTC is unknown, it is only predicted if reached such a number, the market will be saturated.
|
|
|
|
|
|
Irvinn
|
|
November 01, 2018, 05:47:49 AM |
|
Hello,
I have several questions?
The maximum supply amount of bitcoins in circulation is 21 Millions.
The amount that are mined so far is more than 16 Millions (more than 79%)
What is going to happen when the 21 Million limit is close to be reached?
Since it going to be more and more difficult to mine bitcoins, does that mean that the price of a transaction is going to be extremely expensive?
Thanks for taking the time to answer :-D
If all the bitcoins are mined, nothing much will happen. This event has virtually no effect on its price. However, the question is not even that. In a hundred and twenty years, bitcoin mining will probably no longer be relevant. During this time there will be such events that it is possible to forget about Bitcoin. If the cryptocurrency will continue to exist, then it will be completely different. And bitcoin will be completely different. Therefore, do not worry about such little things now. Moreover, we still will not know about it. Rather, not in this life. |
|
|
|
|
|
Crypto Girl
|
|
November 01, 2018, 08:17:05 AM |
|
Hello,
I have several questions?
The maximum supply amount of bitcoins in circulation is 21 Millions.
The amount that are mined so far is more than 16 Millions (more than 79%)
What is going to happen when the 21 Million limit is close to be reached?
Since it going to be more and more difficult to mine bitcoins, does that mean that the price of a transaction is going to be extremely expensive?
Thanks for taking the time to answer :-D
If all the bitcoins are mined, nothing much will happen. This event has virtually no effect on its price. However, the question is not even that. In a hundred and twenty years, bitcoin mining will probably no longer be relevant. During this time there will be such events that it is possible to forget about Bitcoin. If the cryptocurrency will continue to exist, then it will be completely different. And bitcoin will be completely different. Therefore, do not worry about such little things now. Moreover, we still will not know about it. Rather, not in this life. Soon mining will be not profitable anymore since the reward are getting lesser and what they just get is the fee. Thus the answer is clearly stated, it's already scarce and so the price.
The last bitcoin will be mine in 2140 and I'm sure most of us are gone by that time so don't bother anyway. Why don't we just enjoy and live in the present. |
|
|
|
GoldenBell
Newbie
Offline
Activity: 32
Merit: 0
|
|
November 01, 2018, 08:46:22 AM |
|
When we reach the level of 21 million bits, then the transaction costs increase, while the mines will no longer receive the reward.
|
|
|
|
|
|
Pattart
|
|
November 01, 2018, 09:24:37 AM |
|
Hello,
I have several questions?
The maximum supply amount of bitcoins in circulation is 21 Millions.
The amount that are mined so far is more than 16 Millions (more than 79%)
What is going to happen when the 21 Million limit is close to be reached?
Since it going to be more and more difficult to mine bitcoins, does that mean that the price of a transaction is going to be extremely expensive?
Thanks for taking the time to answer :-D
I honestly believe we all are aware of this fact already that Bitcoin will soon be completely mined. The 21 million will only be transferred between one person to another in exchange for whatever service. Yeah, that time will definitely come, bitcoin will not be able to be mined again, while the amount of bitcoin is limited, of course it will soar the price of bitcoin to be very high. that is a sure thing to happen, if currently 79% are already mined, it means less a few years away bitcoin will not be able to be mine. my suggestion is to keep your bitcoin, bitcoin will be very valuable then. |
|
|
|
|
kzozenberg
Jr. Member
Offline
Activity: 140
Merit: 1
|
|
November 01, 2018, 10:21:30 AM |
|
Demand generates supply and this means that when mining is over, demand for bitcoin will be colossal. Bitcoin began to produce so quickly in recent years and there is very little, to be precise 3 646 425 BTC and the end )
|
∨∧∨∧∨∧∨∧∨∧∨∧ [ BRAVO ] Send and receive anonymous and instant payments with the power of blockchain ∨∧∨∧∨∧∨∧∨∧∨∧
https://bvo.trybravo.com/ |
|
|
|
MMS2017
|
|
November 01, 2018, 10:58:21 AM |
|
When we reach the 21 million BTC then a strong financial system will be developed through blockchain technology and it is not just over then all the transactions will be processed through this where the fiat will nor be independent from crypto and money supply of all the currencies bitcoin holders will have a good reserve of fiat and they have choice of the money whether to use crypto or fiat.
|
|
|
|
sinkfish
Jr. Member
Offline
Activity: 252
Merit: 1
|
|
November 01, 2018, 11:50:02 AM |
|
by the time we reach the supply limit, i dont think we will be trading in Satoshi instead of in BTC unit. for that to happen, it would be an economy base on BTC. that would be ambitious.
|
|
|
|
|
dat.ho12492
Jr. Member
Offline
Activity: 378
Merit: 1
|
|
November 01, 2018, 01:53:52 PM |
|
Hello,
I have several questions?
The maximum supply amount of bitcoins in circulation is 21 Millions.
The amount that are mined so far is more than 16 Millions (more than 79%)
What is going to happen when the 21 Million limit is close to be reached?
Since it going to be more and more difficult to mine bitcoins, does that mean that the price of a transaction is going to be extremely expensive?
Thanks for taking the time to answer :-D
I honestly believe we all are aware of this fact already that Bitcoin will soon be completely mined. The 21 million will only be transferred between one person to another in exchange for whatever service. Yeah, that time will definitely come, bitcoin will not be able to be mined again, while the amount of bitcoin is limited, of course it will soar the price of bitcoin to be very high. that is a sure thing to happen, if currently 79% are already mined, it means less a few years away bitcoin will not be able to be mine. my suggestion is to keep your bitcoin, bitcoin will be very valuable then. Well, after bitcoin mining is finished, the value of bitcoin will increase very high but I believe this will not last long and then, bitcoin will gradually go down and began to go sideways, stabilized because the miners, the big whales of the market were no longer benefited when they were not mined. And they will definitely move on to another currency, maybe that would be a bitcoin alternative currency, although bitcoin's position will not be shaken but the community and its popularity will fall to the bottom |
▀▀▀▀▀█████████ CRYPTON ▬▬▬▬▬▬▬▬
▬▬ Revolutionary Cryptocurrency Exchange |
|
|
Sab11
Full Member
Offline
Activity: 524
Merit: 100
io.ezystayz.com
|
|
November 01, 2018, 02:02:52 PM |
|
Hello,
I have several questions?
The maximum supply amount of bitcoins in circulation is 21 Millions.
The amount that are mined so far is more than 16 Millions (more than 79%)
What is going to happen when the 21 Million limit is close to be reached?
Since it going to be more and more difficult to mine bitcoins, does that mean that the price of a transaction is going to be extremely expensive?
Thanks for taking the time to answer :-D
Just for me i think when the total supply of bitcoin is pushed to the limit i think the bitcoin mining is going to stop and for sure as you said l the transaction is become expensive and the price will decrease a little bit because the more total supply the less price just in my opinion hehe. |
|
|
|
|
