jonathan6655321 (OP)
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January 27, 2018, 12:19:37 PM |
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I wonder what will happen to BTC price day before the last bitcoin (21 million) will be mined?
Would love to hear your opinions
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Chris314
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January 27, 2018, 12:22:41 PM |
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It's scheduled to happen in more than a century, I think. Nobody can tell what will bitcoin be in such a long time. Either it's recognised as a currency and widespread during XXIe century, either it is abandoned an no one will mine this last bitcoin.
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Coins and Hardwork
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January 27, 2018, 12:27:55 PM |
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I wonder what will happen to BTC price day before the last bitcoin (21 million) will be mined?
Would love to hear your opinions
I think miners will quickly switch to another digital currency which is not bitcoin that will give them good profit since they will be ending up relying on the cheap bitcoin miner fees if they did not do that . And I think I will be dead by that time since it is still a long time before that happens approximately 100 years before the last number of bitcoin is mined so I think you do not need to worry about it. |
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coinsons
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January 27, 2018, 12:34:41 PM |
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btc will go to POS after POW ended. all sha256 miner asics will go to bitcoin cash and will mine them aswell or qtum also its sha256 too. i think they will find what to mine with they monsters power  |
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Brennus101
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January 27, 2018, 12:43:22 PM |
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The last bitcoin will be mined around 2140. Here's how you arrive at this figure. The initial block reward was 50 BTC. This halves every 210000 blocks, or roughly every 4 years. The block reward goes to zero when it would be less than 1 satoshi, since this is the smallest value which can currently be represented. The equation 50/2^n >= 10^-8 shows that there will be n=32 block halvenings, and after that the reward will be zero. Hence there will be 33 periods of 210000 blocks during which bitcoin can be mined. Since the genesis block was mined January 3 2009, the last bitcoin will be mined in 2140.
This is so far into the future that we cannot reliably predict what will happen then. Even long before the last block is mined, however, the block reward alone will probably be too low to justify mining. Instead, miners might mostly profit from the transaction fees. This is called a fee market.
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VitKoyn
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January 27, 2018, 01:17:47 PM |
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I wonder what will happen to BTC price day before the last bitcoin (21 million) will be mined?
Would love to hear your opinions
It depends on the situation, if the time that the last Bitcoin gets mined and it is widely used as a currency (not as investment) and reached its mass adoption, Bitcoin price will surely be more stabilized but the biggest challenge that Bitcoin will be facing at that time is, will it still be profitable for miners by just relying on transaction fees since there is no more rewards for every block they will mine. If not, for sure miners will switch to other cryptocurrency but I think that there are still miners that will remain (small time miners). |
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BitcoinHodler
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January 27, 2018, 01:18:59 PM |
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price will drop so hard because of the panic. it will go from $1,652,451.32 down to $1,487,206.18 (a whopping -10% drop) and then they kwukduck who is 200 years old by then will make a topic saying how this is the end and bitcoin will die this time.
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Holding Bitcoin More Every Day
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papashark
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January 27, 2018, 01:20:23 PM |
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Just a wild guess, I think Bitcoin price will go up more as the demand is greater than the supply. This economics concept is also applicable to Bitcoin. I wonder what will happen to BTC price day before the last bitcoin (21 million) will be mined?
Would love to hear your opinions
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lyledark10
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January 27, 2018, 01:23:56 PM |
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It's scheduled to happen in more than a century, I think. Nobody can tell what will bitcoin be in such a long time. Either it's recognised as a currency and widespread during XXIe century, either it is abandoned an no one will mine this last bitcoin.
Yeah, you are right no one can predict the end and the price of bitcoin. It's scheduled to happen in more than a century, I think. Nobody can tell what will bitcoin be in such a long time. Either it's recognised as a currency and widespread during XXIe century, either it is abandoned an no one will mine this last bitcoin.
I wonder what will happen to BTC price day before the last bitcoin (21 million) will be mined?
Would love to hear your opinions
It depends on the situation, if the time that the last Bitcoin gets mined and it is widely used as a currency (not as investment) and reached its mass adoption, Bitcoin price will surely be more stabilized but the biggest challenge that Bitcoin will be facing at that time is, will it still be profitable for miners by just relying on transaction fees since there is no more rewards for every block they will mine. If not, for sure miners will switch to other cryptocurrency but I think that there are still miners that will remain (small time miners). I just want to say that no one can analyse the price of the last bitcoin mined. |
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Lingqingyi
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Open and Transparent Science Powered By Blockchain
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January 27, 2018, 01:27:56 PM |
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Maybe bitcoin won't get there.
But I am looking forward to the future of the BTC, although I have died at that point, I'm sorry, can't bear witness to the future of the BTC, then may modify the algorithm of the BTC, such as the transformation of the POS and POW?
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rafderamas
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January 27, 2018, 02:05:38 PM |
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I wonder if people are still mining bitcoins when there could be millions of cryptocurrencies existing when that time comes. But yeah, people will definitely just look for other stuff to mine, or sell their hardware for profit (who would buy an antiminer though if you can no longer buy bitcoins?)  |
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Tavarez
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January 27, 2018, 02:23:28 PM |
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well the price should skyrocket before the last btc is mined. Then the demand will be huge and people will be able probably portions of bitcoin. One whole unit will be 100K or maybe a million $. but lets just wait, many of us won't live up to see that day and specific scenario.
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tententen
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January 27, 2018, 02:25:30 PM |
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I wonder what will happen to BTC price day before the last bitcoin (21 million) will be mined?
Would love to hear your opinions
nothing. It will be baked in. |
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tententen
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January 27, 2018, 02:26:12 PM |
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I wonder what will happen to BTC price day before the last bitcoin (21 million) will be mined?
Would love to hear your opinions
nothing. It will be baked in. Actually, let me rephrase: Expect normal volatility. Whatever that is in 2140. |
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dothebeats
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January 27, 2018, 02:41:56 PM |
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Theoretically the price will boom given that the mineable supply is already exhausted and the only way to acquire more bitcoins is through fees and whatnot, and that is to assume that the hard-capped limit remained @ 21 million and no significant changes had been made to the source code. I wonder if people are still mining bitcoins when there could be millions of cryptocurrencies existing when that time comes. But yeah, people will definitely just look for other stuff to mine, or sell their hardware for profit (who would buy an antiminer though if you can no longer buy bitcoins?) Could be a plausible idea since the mining craze is slowly shifting towards the alts recently and the bitcoin mining industry has somehow remained silent for the past year. I also wonder about the same thing, but am more inclined to think that these miners would remain faithful in hashing bitcoins simply because you can't get alts without BTC if you're a regular trader/investor that doesn't have the gear to mine your desired alts. |
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Coin-1
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January 27, 2018, 03:00:42 PM |
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I wonder what will happen to BTC price day before the last bitcoin (21 million) will be mined?
Would love to hear your opinions
Now ~16 million BTC were mined. Therefore ~5 million BTC is remained to dig. I think that those bitcoins won't be loose as the early mined bitcoins, so ~5,000,000 BTC will come to the crypto exchange markets in many years. But this process will be slow, and the price of Bitcoin will be stable. But actually, the price of any coin mainly depends on the current invest climat in the field of cryptocurrencies. |
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Heisenberg_Hunter
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Heisenberg Design Services
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January 27, 2018, 03:57:31 PM |
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As of now 80% of the bitcoin has been mined. Still 20% is remaining, but to mine this remaining 20% it would take around roughly 100 years from now. In the course of year the hardness of mining increases. As the years passes by the cost of electricity will reach very high rates and it will be impossible for miners to continue mining at a profitable rate. Hence greater transaction charges would be charged and there would be panic everywhere and BTC values if lower they cannot be transferred to one another at a affordable rate and people would hold them as assets as the transaction fees would reach sky high  which will solely destroy the main aim of BTC "a peer to peer electronic cash system" |
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fiulpro
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January 27, 2018, 06:34:42 PM |
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If we follow the demand and supply rule one can easily see that if the demand is still same or higher than before and the supply of Bitcoins is ceased and it's constant then .. what will happen is that the value of Bitcoins will rise enormously and that will cause the Bitcoins to cross millions if everything is in favour.
Also , this is something that a continuous holder is waiting for.
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