What do you think now BTC is more scarce?

[Crypto Sway]

https://www.coindesk.com/17-millionth-bitcoin-mined-means-matters/

What's your take on the 17th million btc being mined? It's now more scarce do you think this will help many get past the mental barrier they had before in buying? Will it trigger Fomo and drive the price up?

[iconternal]

With bitcoin and rarer completeness I think this could trigger for more expensive prices or will trigger a higher price increase.

[salterious]

It certainly could, and from what I gather from the mainstream media it seems they are in unison when talking about the markets. In early January and February it was all doomsday news, and as of late in March and April the news has all been positive. It is like they have the same sources or something .

[Angelic T]

The scarcity of Bitcoin makes it a potential big investment. It will come to a time that most of Bitcoin will be mined and those who hold Bitcoin will increase its value. This is good for the future of crypto

[Bervelukan]

With the decrease in the number of bitcoins that can be mined I think it will have an effect on the rising prices, and this increase could be due to the bitcoin scarcity that is affected by the large number of users.

[odolvlobo]

https://www.coindesk.com/17-millionth-bitcoin-mined-means-matters/

What's your take on the 17th million btc being mined? It's now more scarce do you think this will help many get past the mental barrier they had before in buying? Will it trigger Fomo and drive the price up?

Bitcoin is not more scarce. The number of bitcoins increases every 10 minutes until it reaches 21 million.

[Suharti12]

When mining reaches 17 million bitcoin, bitcoin remains the remaining 4 million bitcoin, and this makes bitcoin scarce as many of the world's people want to have bitcoin for trade or for investment, and this can make bitcoin go up in price.

[Wheelige]

If anything bitcoin gets less scarce every block that is mined (around 10m), as bitcoin is minted with each block. There is no supply/demand reason that price would be driven up by the mining of the 17th million bitcoin, however the idea that either its been going on for so long that there is more strength behind it or the scarcity of what is left seems appealing. The scarcity of whats left driving up price makes no sense though, because its not used up like Oil, so controlling the last drops could be huge, the 17 mil are all out there (bar lost/burned ones).

If anything going off analysis of historical events re mining its a halving (half the amount of bitcoin minted per block) that would drive up price, which has a kind of supply/demand argument as less are made every day so there is less additional supply in the same amount of time. Looking back at the last halvings a 2x increase could be on the cards, however this event is still a way off.   

[Cepot]

so many miners who invest in bitcoin scarcity is a very good prospect, if the occurrence of bitcoin scarcity will trigger a price increase,
bitcoin bitcoin scarcity is certain but it does not mean bitcoin will run out, bitcoin will never run out until whenever

[Ade A Aziz]

https://www.coindesk.com/17-millionth-bitcoin-mined-means-matters/

What's your take on the 17th million btc being mined? It's now more scarce do you think this will help many get past the mental barrier they had before in buying? Will it trigger Fomo and drive the price up?

With a limited amount and continue to be mined may be the presence of bitcoin will be scarce, but who knows when to reach the limit. Clearly, now it is getting harder to get bitcoin if it does not buy it. Scarcity will trigger a significant price increase.

[yohananaomi]

so many miners who invest in bitcoin scarcity is a very good prospect, if the occurrence of bitcoin scarcity will trigger a price increase,
bitcoin bitcoin scarcity is certain but it does not mean bitcoin will run out, bitcoin will never run out until whenever

agree with you that bitcoin will never run out, but who play with bitcoin to play around the price certainly can not be denied there must be, because many expect the price of bitcoin so worthy if they will seek profit from the existence of bitcoin in circulation

[pooya87]

What's your take on the 17th million btc being mined? It's now more scarce do you think this will help many get past the mental barrier they had before in buying? Will it trigger Fomo and drive the price up?

17 million is more like a milestone. it doesn't have much of a significance in my opinion since it is not a significant number nor the block height is significant (for example it is not the reward halving block). and your statement about scarcity is wrong.
bitcoin is scarce (period). you can't say now that it is X amounts of it, then bitcoin is more scarce! if anything it is less scarce. unless you take into calculation the number of people now using bitcoin. for example you can say something like this: when there were 16 million bitcoin there were 1 million bitcoin users (arbitrary number) now that there are 17 million bitcoins there are 10 million users so it is scarcer!

[cokkapaga]

Not yet. You can buy on exchanges.
17 Million is already mining and still left 4 Million. Maybe 2020 all bitcoin is already mining by miners
it's time to buy and hold for a long time.

[ralle14]

Bitcoin isn't scarcer now that it reached 17 million. I agree with what pooya said that Bitcoin is less scarce now after the price corrected from $20k to $9k it'll only get scarcer once we reach a new ath. I don't think it'll drive the price up just because of the circulating supply reaching 17 million the amount of bitcoins getting produced is still the same until the next halving occurs.

Not yet. You can buy on exchanges.
17 Million is already mining and still left 4 Million. Maybe 2020 all bitcoin is already mining by miners
it's time to buy and hold for a long time.

In 2020 there's still Bitcoin left to mine. Miners needs to continue until 2140 to mine the remaining 4 million because of halving.

[player514]

With bitcoin and rarer completeness I think this could trigger for more expensive prices or will trigger a higher price increase.

I think we still have some time before bitcoin becomes super "rare." I guess there's a good amount of money trapped in wallets that people can't recover, but I don't think that's going to change the economy too much. I think the bigger impact comes from the fact that mining is becoming less and less profitable. As of now, I feel like the amount of bitcoin in circulation is good enough for keeping people at bay. I don't think I've heard of anyone complain about a shortage of bitcoin. If there was a shortage, it would cause the price to skyrocket if they really wanted to buy bitcoin. Without the support, bitcoin would be dust.

[odolvlobo]

When mining reaches 17 million bitcoin, bitcoin remains the remaining 4 million bitcoin, and this makes bitcoin scarce as many of the world's people want to have bitcoin for trade or for investment, and this can make bitcoin go up in price.

There are now only 17 million and when all the bitcoins are mined, there will be 21 million. There is more available for trade and investment every 10 minutes.

...If anything going off analysis of historical events re mining its a halving (half the amount of bitcoin minted per block) that would drive up price, which has a kind of supply/demand argument as less are made every day so there is less additional supply in the same amount of time.

It is "supply and demand", not "additional supply and demand". The halving does not reduce the supply. The supply is greater after the halving than before because there are more bitcoins. An increasing number of bitcoins tends to cause the supply curve to shift the right, lowering the price of a bitcoin.

so many miners who invest in bitcoin scarcity is a very good prospect, if the occurrence of bitcoin scarcity will trigger a price increase,
bitcoin bitcoin scarcity is certain but it does not mean bitcoin will run out, bitcoin will never run out until whenever

Mining fewer bitcoins does not affect the price because bitcoins are not consumed. Fewer bitcoins simply means that miners will make less money.

Maybe 2020 all bitcoin is already mining by miners

The subsidy will continue long past 2020, until about 2140. See https://en.bitcoin.it/wiki/Controlled_supply

[freesia_pnp888]

here the deal, the less bitcoin becomes, the more expensive it will become, and not likely anyone can buy it anymore.

[kumar jabodah]

https://www.coindesk.com/17-millionth-bitcoin-mined-means-matters/

What's your take on the 17th million btc being mined? It's now more scarce do you think this will help many get past the mental barrier they had before in buying? Will it trigger Fomo and drive the price up?

The most frightening actually now is the dynamic new price of Bitcoins. Falling and rising and if you do not follow it you will be sure to lose. So learn bitcoins well learn to be content and not be greedy because this is one of the reasons why we are losing bitcoins.

[Qartersa]

Definitely this could trigger the price because Bitcoin's price is evidently following the economic principle of supply and demand- that when there are increased supply, the price declines and that when there are decreased supply, the price inclines. This observation, as I have perceived throughout my Bitcoin experience, is true. Hence, Bitcoin investors could only rejoice to this!

I believe too that after the issue on Mt. Gox, when Bitcoin's price started pumping, people who once left are now back in the game to join the bandwagon once more. On the hindsight, I wish old-time investors would not sell their Bitcoins to these pump and dump people because the latter are major causative factor on why Bitcoin's price declines for almost all reasons I can think of.

[Eraldo Coil]

https://www.coindesk.com/17-millionth-bitcoin-mined-means-matters/

What's your take on the 17th million btc being mined? It's now more scarce do you think this will help many get past the mental barrier they had before in buying? Will it trigger Fomo and drive the price up?

If there are 17 million btc being mined, there is a high possibility that in the future it is going to be hard mining bitcoin. And also, there is a possibility that this might trigger the price to go up soon.