Bitcoin anniversary. 17 millionth mined.

[bitmover]

Yesterday, april 26th 2018, the 17 millionth Bitcoin was mined. It's somehow a bitcoin aniversary. Only 4 million to go, 80% of total supply.



Bitcoin is still a inflationary currency. According to BashCo.github.io we have now 3,8% inflation rate per year, as the block reward is still 12.5 BTC per block. By 2021 we will have a halving, and inflation rate will drop to 1,7% as reward will drop to 6.25


Source: https://BashCo.github.io and https://www.coindesk.com/17-millionth-bitcoin-mined-means-matters/

According to Statista, global inflation rate is 3,15%, which is lower than bitcoin inflation rate now.

Let's wait to see the impact on price when bitcoin has a inflation rate lower than the global inflation rate.
By 2025, 0,8% inflation, according to bitcoin wiki and BashCo.

I will be holding until then.

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[1Referee]

I like how Bitcoin is going against the regular economy, because where Bitcoin's supply being pumped into circulation is only becoming lower to a point in the future where there is no longer any new supply, central banks keep overflowing the world with more fiat further decreasing the value of everything that's already circulating. That effect alone will make Bitcoin be worth more against the dollar, where if you combine that with the massive actual demand for Bitcoin, even $100,000 is nothing more than a joke. People have already been hedging their own fiat currencies, but now with Bitcoin being an easy to access hedge and a solid store of value, people no longer have to look further. With everything in mind, one must be twisted to sell Bitcoin for fiat, unless there is an urgent situation forcing people to do so.

[Jamescur]

Scarcity and hard mining are the main features of gold, which has long been compared. Scarcity is the basis for the price of BTC, which means that bitcoin will not depreciate in the same way as fiat money, and will only rise as the stock of bitcoin declines.

[chillitabit]

Yesterday, april 26th 2018, the 17 millionth Bitcoin was mined. It's somehow a bitcoin aniversary. Only 4 million to go, 80% of total supply.

https://livecoins.com.br/wp-content/uploads/2018/04/coinmarketcap.png

Bitcoin is still a inflationary currency. According to BashCo.github.io we have now 3,8% inflation rate per year, as the block reward is still 12.5 BTC per block. By 2021, according to bitcoin wiki and BashCo, inflation rate will drop to 1,7% as reward will drop to 6.25

https://livecoins.com.br/wp-content/uploads/2018/04/newplot.jpg
Source: https://BashCo.github.io

According to Statista, global inflation rate is 3,15%, which is lower than bitcoin inflation rate now.

Let's wait to see the impact on price when bitcoin has a low inflation rate, below global inflation rate.
By 2021 bitcoin will have 1,7%, and by 2025 0,8%.

I will be holding until then.

source (portuguese): https://livecoins.com.br/17m-bitcoins-minerados-inflacao-mundial/

I'm really looking forward to when the bitcoin mining fee will halve, that should boost the price higher in my opinion, as mining expenses are good mirror of the actual market price

[Dexion]

very good, when bitcoin becomes less, it will become increasingly difficult for miners to solve bitcoin code puzzles. and bitcoin prices will be very expensive.

when 4 million bitcoin remaining, in your opinion,  when bitcoin will run out?

and will bitcoins be the legal virtual currency before inventory runs out?

[green_fish]

Only about a fifth of the remaining output is supplied to miners and future buyers, and only 400 are likely to be finished by the BTC in 2140.

The decline in the stock of bitcoins also means that the price of BTC will be higher and higher.

[vilello]

Yesterday, april 26th 2018, the 17 millionth Bitcoin was mined. It's somehow a bitcoin aniversary. Only 4 million to go, 80% of total supply.

https://livecoins.com.br/wp-content/uploads/2018/04/coinmarketcap.png

Bitcoin is still a inflationary currency. According to BashCo.github.io we have now 3,8% inflation rate per year, as the block reward is still 12.5 BTC per block. By 2021, according to bitcoin wiki and BashCo, inflation rate will drop to 1,7% as reward will drop to 6.25

https://livecoins.com.br/wp-content/uploads/2018/04/newplot.jpg
Source: https://BashCo.github.io

According to Statista, global inflation rate is 3,15%, which is lower than bitcoin inflation rate now.

Let's wait to see the impact on price when bitcoin has a low inflation rate, below global inflation rate.
By 2021 bitcoin will have 1,7%, and by 2025 0,8%.

I will be holding until then.

source (portuguese): https://livecoins.com.br/17m-bitcoins-minerados-inflacao-mundial/

Idk what will happen if BTC run out. will BTC die? Or ETH will take BTC place as number one Crypto Coin? Please explain to me.

[keycellko]

We are close to finish in mining bitcoin. I guess it will become harder as it gets closer to the finish line. Im looking forward to completion, by then supply will be capped and prices will zoom up. The more people would want to have bitcoins the more the price will surge. Let's see about that in a few years.

[Xester]

I thought that the 17th million volume of bitcoin will be mined tomorrow April 28, 2018 but I guess I was wrong since it was yesterday April 26, 2018. If bitcoin has a low inflation rate then this means that I also agree with the author and I will also hold my bitcoin until such time that my target amount will be reached.

[bitmover]

Idk what will happen if BTC run out. will BTC die? Or ETH will take BTC place as number one Crypto Coin? Please explain to me.

Theoretically  bitcoin will become more expensive as inflation decreases.

Miners won't be receiving as many bitcoin as they were receiving, so they will have less bitcoins to sell. Considering the same amount of people are willing to buy, and there are less bitcoins, they will have to pay more. Supply and demand law.

[ganlianshifu1]

The remaining 4 million bitcoins are expected to take at least 122 years to close.

The miners have more than 100 years to think about what BTC is doing after it is finished!

Maybe in the future there will be new digital encryption money waiting for BTC miners to mine!

[pey]

Bitcoin, thus, can be seen maybe the best investment for the next 20 years in the World. In 202x the price will be very interesting  

[yojodojo21]

Happy anniversary 17th.
Still a long run for that 4 percent remaining. Will take many years to make an end to it. But for sure the nearer the supply is running out the fork of bitcoin will increase. Satoshi did a great Job, He will be a legend after 100 years.

[Kavallo]

Looking at this curve we can easily imagine also the curve of the price as more and more people will want to own some of this so called digital gold. So we can reasonably expect a huuuge rise of the price at some point.... but at that point we will be also at a very high risk of hearing at some point a really really scaring sound: "POP!".

[Veterock]

The last 4 million coins will be mined more than 100 years))) It's hard to believe)))

[krishnaverma]

Happy to know about this. I hope bitcoin continues to gain popularity at the same rate.

Somewhere I believe that if bitcoin survives till the last coin (as per current reports is mined), they will increase the limit. I mean that number does not have any real practical limitation and we need need as much bitcoins as possible. I will not be alive to confirm this though .

[Mpamaegbu]

Yesterday, april 26th 2018, the 17 millionth Bitcoin was mined. It's somehow a bitcoin aniversary. Only 4 million to go, 80% of total supply.

The last 4 million coins will be mined more than 100 years))) It's hard to believe)))

The beauty of this crypto stuff is that everybody is a speculator. No one truly knows where the pendulum will swing to on this at any time. But let me quickly add that anyone who ever thinks that there will ever be 21million bitcoins in circulation will be living in Disneyland. Maybe we will get to see tue remaining 4million mined, but the supply will always be short as already not all can be recovered. Irretrievable lost Private Keys and loss through death of holders are issues to battle with.

[Mr.Ease]

The great thing about this mining process is that it is designed to be self-sufficient!

The block rewards are initially a selling point for people to join and essentially build the network.
By the time the block rewards go down to basically nothing - The fees collected from millions of transactions should still be very profitable!

So, in the future - nobody will really care about the block reward - but the transaction fee reward  
In fact - we had a taste of how lucrative those transaction fees can build up back in December. Miners were seeing a nice bonus

[Vannie12]

Now recently I can observe that there ere very informative topics that I have read and it makes me feel that everything is going a bit better here in he forum.

I do believe that everyone does great efforts for it.

Back to the topic, thank you for the great information.
I really think that people should keep in mind that bitcoins are still mined and this is another factor why bitcoins will always have the tendency to fall in a matter of time.