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Author Topic: Bitcoin is rare  (Read 2147 times)
Sexie
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April 30, 2018, 11:36:23 PM
 #1

https://www.ccn.com/only-another-four-million-bitcoin-will-be-mined-heres-why/amp/


Bitcoin is rare . Just only 4 million left to be mined. Is this the reason why , the price increase?  Need to know your opinion too.

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javadsalehi
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April 30, 2018, 11:41:07 PM
 #2

I think the price will rise. But what you are talking about is not what causes that. 4 million coins left to be mined. But the circulation supply is still rising.
More supply ----> Lower price

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April 30, 2018, 11:52:18 PM
 #3

miners still have a daily production of 1800 Bitcoins.
I'm not sure if there are enough buyers to take them all.
There will be a halving each 4 year, in 10 year from now we will be down on just 450 new bitcoins each day.

Price have been rising for weeks and will I think it will cross 10k within the next 2 weeks do to the bitcoin consensus

https://www.coindesk.com/events/consensus-2018/

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April 30, 2018, 11:56:50 PM
 #4

yes, when bitcoin becomes rare, then bitcoin prices will be very expensive, bitcoin will be sought by everyone in the world. but the whales will get more advantages.
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May 01, 2018, 12:19:24 AM
 #5

https://www.ccn.com/only-another-four-million-bitcoin-will-be-mined-heres-why/amp/


Bitcoin is rare . Just only 4 million left to be mined. Is this the reason why , the price increase?  Need to know your opinion too.
Yes, the system is what I like about the bitcoin mining system, where the amount of bitcoin mined on each block will be reduced by half every four years and it will continue until the number of mined bitcoins is zero meaning there will be no more bitcoin produced, a good system to keep bitcoin prices up

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May 01, 2018, 12:36:45 AM
 #6

rare.. scarce..

hmm
rare = you cant easily find any because there isnt really a place normal people can get to it
scarce = its available and many can have a bit. but it has limited supply

bitcoin actually has 2.1quadrillion sharable units. and average joe could get their hands on it quite easily.

however.. rarity/scarcity alone are not the cause of large prices.
take for instance my dog. it does 2 poops a day. (730 a year, as it gets older it will start to poop less. and so eventually when it dies there will be no more poops being roduced.

anyone want to buy my dogs poop.. only about ~4000 will ever be produced..
.. no takers?
.. thought not

..
its more about utility/function that gives bitcoin a value. EG it had no value until 'bitcoin pizza' event when people seen a practical use for bitcoin.
the cost of production has mor of a factor into a price than 'rarity/scarcity'

EG if it didnt cost gold miners thousands of $ to mine an ounce. and instead cost 10cents /ounce. they would sell it as fast as they can mine it and the price would stablise at somewhere near the cost of production (10cents as oppose to +$1k)

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May 01, 2018, 02:22:17 AM
 #7

Bitcoin is rare . Just only 4 million left to be mined. Is this the reason why , the price increase?  Need to know your opinion too.

it is the law of supply and demand (https://en.wikipedia.org/wiki/Supply_and_demand), it is not just supply, it is supply anddemand. in other words having a limited supply won't lead to price rise, there needs to be an increasing demand for it too. bitcoin has that increasing demand which is increasing with more adoption.
to understand this better you can go to https://coinmarketcap.com/all/views/all/ and sort the list based on circulating supply then use Ctrl+F to find bitcoin and then check the other coins that are near it which have the same circulating supply. you can clearly see just having that amount of supply doesn't make them valuable.
for instance there is a coin called "Monster Byte" with nearly 17 million supply which is currently worth $0.06


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May 01, 2018, 02:33:13 AM
 #8

Yes, bitcoins are becoming rare. But that does not mean that bitcoins will disappear. Bitcoin will be more positively shaped in the future. This will make people use bitcoin more and more.
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May 01, 2018, 02:47:34 AM
 #9

https://www.ccn.com/only-another-four-million-bitcoin-will-be-mined-heres-why/amp/


Bitcoin is rare . Just only 4 million left to be mined. Is this the reason why , the price increase?  Need to know your opinion too.

The main reason why the price is going up its because there is a big demand in the market there are so many people want to hold bitcoin and that why they want to buy but the people that willing to sell is not enough in short, if more people want to buy bitcoin And only few want to sell there bitcoin the price will surely goes up because of the higher demand.
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May 01, 2018, 02:52:56 AM
 #10

The more the Supply is, it will not become rare. However if they start to hodl and not to sell it for a bout 3-5 years then that when the bitcoins become rare and the price will rise too.
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May 01, 2018, 03:48:39 AM
 #11

Yes of course the bitcoin it rare because many more people identified and its value is very high so rare.
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May 01, 2018, 03:52:57 AM
 #12

Yes its true that bitcoin is rare now because there is a big demand in the market and it is the reason why people are hodling it for long-term. And also, there are only 4million bitcoin left to mine. So it means, once all bitcoin has been mined its price will surge up. But we can never really say its gonna be soon because the closer we are to the last bitcoin, the harder it will be tfor the miners.

Bit_Bull82
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May 01, 2018, 03:55:04 AM
 #13

Its the law of supply and demand, mixed with Economics and a little bit of human greed, or a lot actually!

boboking
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May 01, 2018, 03:55:52 AM
 #14

Yes it is rare, but assuming right away that it will be more expensive if available Bitcoin to be mined is fewer is wrong. Remember that even though the supply is limited in order for the price to drive up we still need a demand. Of course I hope that demand will continue and the Bitcoin price to be sky high in the future.  

The_prodigy
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May 01, 2018, 04:05:59 AM
 #15

Yes it is rare, but assuming right away that it will be more expensive if available Bitcoin to be mined is fewer is wrong. Remember that even though the supply is limited in order for the price to drive up we still need a demand. Of course I hope that demand will continue and the Bitcoin price to be sky high in the future.  
In my own point of view, bitcoin is rare. Yes it is popular but the specific reason why bitcoin is rare because of the demand of it. People have higher demand in bitcoin many people wants to hold this bitcoin. It's like a limited edition bag or whatsoever, if you're one of the holder then it's a favor to you because you can sell it in a higher price.

smyslov
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May 01, 2018, 04:21:13 AM
 #16

https://www.ccn.com/only-another-four-million-bitcoin-will-be-mined-heres-why/amp/


Bitcoin is rare . Just only 4 million left to be mined. Is this the reason why , the price increase?  Need to know your opinion too.
Maybe it contributed to the current price but it just builds up after so many good news coming in the past weeks if there are no bad news coming then Bitcoin can regain their price in the third quarter of this month, let's pray it happen.

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upinros
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May 01, 2018, 04:34:30 AM
 #17

It is true that Bitcoin is rare now because there is a huge demand in the market and that is the reason why people hold it for the long term.
but with the direct assumption that it would be more expensive if Bitcoin is available that will be mined even if the limited supply continues and the Bitcoin price becomes high in the future.
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May 01, 2018, 05:11:30 AM
 #18

Bitcoin is rare . Just only 4 million left to be mined. Is this the reason why , the price increase? 

No. The fact that there are bitcoin "left to be mined" ensures that the balance of bitcoin is not increasing the price, precisely because more bitcoin is becoming available every hour. The supply is increasing, which dilutes (even slightly) the effect of the demand that drives the price.

The reason the price is increasing is complex because it's a global market. Broadly, there is a new found enthusiasm for this thing that's been in a rut for months. Read the headlines on Coindesk and you'll start to get the pulse for the market.

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May 01, 2018, 05:34:53 AM
 #19

Bitcoin is very rare.  It is said that there are about 4 million bitcoins that have been lost forever.  That leaves about 13 million bitcoins left in circulation today and there are about 7.6 billion people in the world.
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May 01, 2018, 05:49:03 AM
 #20

https://www.ccn.com/only-another-four-million-bitcoin-will-be-mined-heres-why/amp/


Bitcoin is rare . Just only 4 million left to be mined. Is this the reason why , the price increase?  Need to know your opinion too.

I think we can no longer consider bitcoin as a rare one since it is too known widely and being used widely. But of course, there is a high possibility that it will rise.
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