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Author Topic: BITCOIN'S VALUE WILL INCREASE ONCE ALL 21M BTC ARE MINED...SO HOLD YOUR BTC!  (Read 298 times)
STT
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October 18, 2018, 10:32:29 PM
 #21

The law of supply and demand. Since bitcoin has a supply limit and mining difficulty, no doubt that its value due to its scarcity will surely increase. We just have to wait for that moment to come and enjoy our profits.

Sure there is that and I dont disagree exactly but also Im a cynic and dont believe in simple outcomes.    I would just say theres a feedback effect so people are aware of that final destination and to some extent its already accounted for within the current holding of BTC.

Believe me there is many holding from at least 2013 onwards just a little bit but enough over millions of users that it adds up to a fair chunk of BTC being held for this 'event' and this is also something celebrated in every halvening type change to the protocol where the block reward reduces.   That very much is a precursor of this final event and helps raise this ratio of supply to demand some.

My final take would be that the block reward does have a purpose of sorts to encourage the mining network.  Some of its coming from the price appreciation but also this time when there is no block reward brings a slight dilemma in that we then rely on just transaction fees.
It will be like learning to take off and the end of the runway is a cliff, lets hope the wind supports the wings :p

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bloodyvio
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October 18, 2018, 11:16:34 PM
 #22

according to this website https://www.quora.com/When-will-the-last-Bitcoin-be-mined
the estimated all supply bitcoin will be mined is in 2136
so the question is, are we still alive at that time?  Cheesy
but yeah at that time the block reward will yield 0.00000168 BTC per day and 0.00000042 BTC per block
so every satoshi will be very valuable later

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October 18, 2018, 11:21:19 PM
 #23

Many people are scared that the price of bitcoin can never rise above 15k again but i disagree with this. The total number of bitcoin is 21M and currently about 16.9M has been mined already. Don't forget that, currently some online marketing platforms (Amazon & Ebay), institutions (UNICEF) now accept bitcoin as another mode of payment aside Electronic payment and fiat currency. The demand of bitcoin will increase with time as more institutions decide to embrace cryptocurrencies(bitcoin) as a payment method. As the demand starts to increase then you can be rest assured that the value of bitcoin will also increase. This is the future folks, don't be scared by the trend of the market and sell cheap because Green days are coming!

I am also very optimistic that Bitcoin can get a bigger market share. There have been many companies and institutions that support the use of Bitcoin, although it is not too significant but this is a positive value that helps increase public confidence in Bitcoin. HOLD is a good choice, as we know that currently the price of Bitcoin is in a fairly cheap range so this is an opportunity to be able to buy a lot of Bitcoin and then we sell it much higher in the future.
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October 18, 2018, 11:34:15 PM
 #24

I hope that you do realize that with halvings it will take many more years before the last coin is mined out. It's estimated that in the year 2100 we will still be mining! While I'd like to be able to see this most of us, including me, will never be able to. Our generation of people born in the 80s and 90s will die before the year 2080. The revolution will have to happen much earlier and it will.

Last BTC should be mined somewhere around year 2140, but this is just information that we should not worry too much. More important thing is to know that almost 99% of all BTC will be mined around year 2032, so we can say that in some 14 years from now and even before we can expect very small amount of fresh mined coins on market. Considering halvings in years 2020/2024/2028/2032 we can expect that price will go up to a significant extent if demand increase over the years.



Exactly, we really don't need to go and see the last bitcoin mine, because technically by 2032 we can say that 99% of it will be mine already so its obvious that as speculative asset we need to hold and buy cheap coins and just let it sit in our wallet for the next decade or so.

The OP should at least post a link about Unicef though.

https://news.bitcoin.com/unicef-france-accepts-donations-in-9-cryptocurrencies/
https://www.unicef.org.nz/donate-in-crypto

As for Amazon and Ebay, I'm sorry but OP is wrong because they're not accepting it as mode of payment but maybe we can see other companies starting to accept it in the near future but not today.


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October 19, 2018, 12:45:27 PM
 #25

I hope that you do realize that with halvings it will take many more years before the last coin is mined out. It's estimated that in the year 2100 we will still be mining! While I'd like to be able to see this most of us, including me, will never be able to. Our generation of people born in the 80s and 90s will die before the year 2080. The revolution will have to happen much earlier and it will.

Last BTC should be mined somewhere around year 2140, but this is just information that we should not worry too much. More important thing is to know that almost 99% of all BTC will be mined around year 2032, so we can say that in some 14 years from now and even before we can expect very small amount of fresh mined coins on market. Considering halvings in years 2020/2024/2028/2032 we can expect that price will go up to a significant extent if demand increase over the years.



Exactly, we really don't need to go and see the last bitcoin mine, because technically by 2032 we can say that 99% of it will be mine already so its obvious that as speculative asset we need to hold and buy cheap coins and just let it sit in our wallet for the next decade or so.


The problem regarding BTC quantity and last coin mined arises because of ignorance, year 2140 is so far away, and for us who live today this information is completely worthless. We have a year which is much closer and mostly achievable for everyone, so we need to focus on that. Many positive things will probably happen in the next 10-15 years, but we all know that law of supply&demand has a very big impact on the price.

If people know how close we are to the point when 99% of all BTC will be mined, they might look a little differently on the whole situation. I bet some 10 years from now people will discuss about cheap BTC back in 2018, same as we do today about 2010 or maybe 2014.

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