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Author Topic: Anybody know what happens when Bitcoin hits 21M circulating supply?  (Read 320 times)
Kingofbitcoin12345
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April 01, 2018, 05:05:07 PM
 #21

This will be the end of bitcoin mining ⛏ a 21M circulating supply will be a history in a making that for sure we won’t be alive in that era.. With slowdown of cryptocurrency adaptation,, the number of miners decreases and the timeline for acquiring the full supply longer than expected..

Every Satoshi counted more valuable at that time and it worth more than any coins in the market.. I can’t wait this to happen,, but we won’t experience this phenomenon..

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April 01, 2018, 05:07:27 PM
 #22

This will be the end of bitcoin mining
No it won't be the end of bitcoin mining.

What will happen is miners will continue to mine to confirm transactions.

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April 01, 2018, 05:35:24 PM
 #23

This will be the end of bitcoin mining
No it won't be the end of bitcoin mining.

What will happen is miners will continue to mine to confirm transactions.

My mistake,, what I mean is the small miner like me.. The difficulty and the fee,, I don’t think it’s worth mining at that time.. The improvement of Segwit and future updates in the lite network will lessen the possibility of higher transaction fees then those factor alone won’t be beneficial to a miner cost production..

I hope I’m wrong and correct me if i am Sir..

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April 01, 2018, 07:06:10 PM
 #24

Hi guys! So, yeah, as you must know already, all crypto has a finite supply
False statement. There are cryptos that haven't got a finite total supply. Examples of such coins are ethereum, Waves. You can check the coinmarketcap for that info.


what actually happens when bitcoin hits 21 million max besides it not being mineable anymore? Does this increase the value quicker?
Truth is that the 21million supply can never be achieved. Already, there are some bitcoin lost and can't he retrieved as a result of lost of PKeys, death, malwares etc. But once the peak (no matter what number is reached) in supply is achieved, investors will begin looking for other crypto options. I really don't see getting to the highest supply being a problem for anyone.


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batang_bitcoin
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April 02, 2018, 10:49:09 AM
 #25

This will be the end of bitcoin mining
No it won't be the end of bitcoin mining.

What will happen is miners will continue to mine to confirm transactions.

My mistake,, what I mean is the small miner like me.. The difficulty and the fee,, I don’t think it’s worth mining at that time.. The improvement of Segwit and future updates in the lite network will lessen the possibility of higher transaction fees then those factor alone won’t be beneficial to a miner cost production..

I hope I’m wrong and correct me if i am Sir..
Yeah the small miners will definitely have the choice to stop if all coins will be mined. Difficulty will totally increase and if you can see that it's worth it anymore then you have to look for some other coins to mine during that time. But you know what? the year that all bitcoins will be mined, I don't think that we are still existing by that time.

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April 02, 2018, 10:55:45 AM
 #26

Hi guys! So, yeah, as you must know already, all crypto has a finite supply meaning its not going to be mineable forever I guess, but what actually happens when bitcoin hits 21 million max besides it not being mineable anymore? Does this increase the value quicker? Let me know if you know, i dont know the answer and would love to hear what you have to say
If the circulating supply increases means the price will decrease but it take too long from now for all coins to b mined so before that bitcoin will be used by more people than now which menas the price will be huge when last coins were to be mined.But still miners will work and get rewards from transaction fees.

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April 02, 2018, 11:15:42 AM
 #27

Hi guys! So, yeah, as you must know already, all crypto has a finite supply
False statement. There are cryptos that haven't got a finite total supply. Examples of such coins are ethereum, Waves. You can check the coinmarketcap for that info.


what actually happens when bitcoin hits 21 million max besides it not being mineable anymore? Does this increase the value quicker?
Truth is that the 21million supply can never be achieved. Already, there are some bitcoin lost and can't he retrieved as a result of lost of PKeys, death, malwares etc. But once the peak (no matter what number is reached) in supply is achieved, investors will begin looking for other crypto options. I really don't see getting to the highest supply being a problem for anyone.
Why users should look for other cryptocurrencies if they trust bitcoin? A limited number of coins is a protective mechanism against inflation. But the price of bitcoin is influenced only by demand. Now there are whales who have concentrated in their hands a large number of coins. They too can manipulate the price but gradually bitcoins will disperse on hands of all users and whales it will be difficult to keep the domination.
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May 18, 2018, 11:28:26 PM
 #28

Hi guys! So, yeah, as you must know already, all crypto has a finite supply meaning its not going to be mineable forever I guess, but what actually happens when bitcoin hits 21 million max besides it not being mineable anymore? Does this increase the value quicker? Let me know if you know, i dont know the answer and would love to hear what you have to say
If the supply of bitcoins goes that high, I think it will affect its price but depending also on the number of people mining or investing it. Every day, month and year the population here in crypto world is increasing so the demand for bitcoin is increasing. What will happen to bitcoin will not depend as to its number alone.
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May 21, 2018, 06:57:35 PM
 #29

Hi guys! So, yeah, as you must know already, all crypto has a finite supply meaning its not going to be mineable forever I guess, but what actually happens when bitcoin hits 21 million max besides it not being mineable anymore? Does this increase the value quicker? Let me know if you know, i dont know the answer and would love to hear what you have to say
When all 21 million bitcoins are mined, I think that nothing significant will happen. Given that this should happen around 2140, probably, we do not know for sure. Even if the technology of mining bitcoins in the near future will significantly change for the better, then vseravno it is unlikely that we will wait. By this time, I think, there will be so many diverse crypto-currencies that hardly anyone will be particularly interested in this museum exhibit.

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May 21, 2018, 06:58:28 PM
 #30

Hi guys! So, yeah, as you must know already, all crypto has a finite supply meaning its not going to be mineable forever I guess, but what actually happens when bitcoin hits 21 million max besides it not being mineable anymore? Does this increase the value quicker? Let me know if you know, i dont know the answer and would love to hear what you have to say

There is no limit on the price of cryptocurrency, if people will really like bitcoins then they will probably invest more coins so we can expect that the price in the future might grow even more when the shortage has come in the market.

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June 04, 2018, 07:52:32 AM
 #31

I would argue if bitcoin is mined to the limit, then there will be an increase in value. because bitcoin is considered rare and increasingly needed by many people.

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June 04, 2018, 08:00:58 AM
 #32

I think if that should ever happen, and all the BTCs are actually owned (which will not happen by the way) then we will see a coin that will increase it's value. Then again, it would depend on who will own the coin. If however a coin. Is owned by a whale then they might use it to control the market to lower or jack up prices.

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June 04, 2018, 08:14:44 AM
 #33

Hi guys! So, yeah, as you must know already, all crypto has a finite supply meaning its not going to be mineable forever I guess, but what actually happens when bitcoin hits 21 million max besides it not being mineable anymore? Does this increase the value quicker? Let me know if you know, i dont know the answer and would love to hear what you have to say

Miners will just be paid in transaction fees and not by additional bitcoin anymore. The price will be really definitely go high because only few will be circulating online. But I believe that 21 million supply has not yet mined and not yet owned by everyone.

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June 04, 2018, 08:18:59 AM
 #34

It would take decades for all the bitcoins to get into circulation and being that it isn't something that we should be concerned about. If the time reaches for that to happen, the people using it at that time should be asking questions like this, and most probably there won't be such problems in future as for sure there will be even better technologies by then.

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June 04, 2018, 08:57:02 AM
 #35

In theory transaction fees will be what solely rewards the miners. In reality though, unless computers become smarter, faster and smaller this wont be profitable most likely. But I'm sure by then that another currency with a more Eco-friendly consensus, and more profitable rewards will surface. We should start looking to more sustainable Cryptos. There are many coins that are potentially "better" than bitcoin.
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June 04, 2018, 09:08:49 AM
 #36

Hi guys! So, yeah, as you must know already, all crypto has a finite supply meaning its not going to be mineable forever I guess, but what actually happens when bitcoin hits 21 million max besides it not being mineable anymore? Does this increase the value quicker? Let me know if you know, i dont know the answer and would love to hear what you have to say
The value of Bitcoin will be high. Because it has been exploited and its value will increase dramatically.
A bit worse, Bitcoin will not be used in trading and it will only become a symbol. That's my cheerful thoughts. Grin

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June 04, 2018, 09:22:40 AM
 #37

In theory transaction fees will be what solely rewards the miners. In reality though, unless computers become smarter, faster and smaller this wont be profitable most likely. But I'm sure by then that another currency with a more Eco-friendly consensus, and more profitable rewards will surface. We should start looking to more sustainable Cryptos. There are many coins that are potentially "better" than bitcoin.

There is a new consensus protocol that is Eco-friendly called Proof of Ambassador introducted by Bitcoin Origin. Bitcoin Origin's Proof of Ambaasador consensus is based on pre-approved Authoritative validators with a Proof of Authority approach. Ambassadors are voted for monthly by the Bitcoin Origin coin holders. By staking Bitcoin Origin tokens the community is given the power to vote for the Ambassador who has represented Bitcoin Origin in the effective manner. Bitcoin Origin is a self- funded project it's not an ICO or an Altcoin yet it is an upcoming hard fork of the 5 biggest PoW Cryptocurrencies Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Dash. Bitcoin Origin has Eco- Friendly approach to mining using severs that Eco- friendly farms.
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June 04, 2018, 09:27:58 AM
 #38

In theory transaction fees will be what solely rewards the miners. In reality though, unless computers become smarter, faster and smaller this wont be profitable most likely. But I'm sure by then that another currency with a more Eco-friendly consensus, and more profitable rewards will surface. We should start looking to more sustainable Cryptos. There are many coins that are potentially "better" than bitcoin.

There is already a consensus (pun intended) around Crypto that BTC has am expiration date but has opened the door to the mainstream world for other Cryptos. When that point comes then you are right in saying that miners will be paid in transaction fees but that point is basically a point not even giving attention to because by that time we will all have moved away from a coin like BTC because the world will have adopted a coin that has moved to more sustainable form of Proof of Stake such as ETH, which seems to be the closer contender in the pool of Crypto. We are all aware of the amounts of energy consumption within Proof Of Work so there are greener projects such as Bitcoin Origin being discussed which would use Proof Of Ambassador which looks to be much more sustainable and scalable for real world application. Savvy investors out there seem to be leaning towards greener projects as potential investments so watch for that coming wave
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June 04, 2018, 10:19:36 AM
 #39

this increase in value is initially due to the limited availability of available goods. if all has been successfully mined automatically it will make it a high value and will reach a very expensive price when traded. but, if you want to look normal, the new protocol rules on supply should be updated immediately.
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June 04, 2018, 10:23:13 AM
 #40

The more bitcoins the less is the price, when there will be no more new bitcoins comming out, the price will be forced to grow continuously

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