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Author Topic: Possible scenario when all Bitcoin is completely mined.  (Read 584 times)
denzkilim (OP)
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April 08, 2019, 05:44:55 AM
 #1

I've been thinking of some possible scenarios that will happen when all Bitcoin is completely mined and miners will be depending on transaction fees of Bitcoin. I think that the price of Bitcoin will start to soar at that time without any manipulations because the demand will start to get high because miners will surely not sell their mined Bitcoin's at a lower price. At that time the circulating supply and total supply of Bitcoin is completed and there will be no more Bitcoin's created or produced. In my own point of view, this is some kind of another bullish event if we reached this point of time(when all BTC are mined).

What do you think? Cheesy
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April 08, 2019, 05:58:19 AM
 #2

we can barely predict what is going to happen in a year or 10 years from now. you are asking us to predict what will happen after about 90 years! that is simply impossible. not to mention that this topic has been discussed before many many times. example of the most recent duplicate topic: https://bitcointalk.org/index.php?topic=5128657.0

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April 08, 2019, 06:20:40 AM
 #3

Let's say "let's cross the bridge when we get there". Very difficult to see what will happen, maybe the price will go to $1 million or go to 0. We even have difficulty predicting what's going to happen in the next year or so, what's more 10-20 years from now?

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April 08, 2019, 06:31:40 AM
 #4

Let's say "let's cross the bridge when we get there". Very difficult to see what will happen, maybe the price will go to $1 million or go to 0. We even have difficulty predicting what's going to happen in the next year or so, what's more 10-20 years from now?

Yes it is a long way to go, we do not even know if we can see the time when all bitcoin are mined. We also do not know whether all bitcoin can be mined or not as there might be a chance that bitcoin is not even being used anymore before all are mined. Anything may happen in technology, who knows the future? No one obviously.

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April 08, 2019, 07:15:29 AM
 #5

...I think that the price of Bitcoin will start to soar at that time without any manipulations because the demand will start to get high because miners will surely not sell their mined Bitcoin's at a lower price. ...

I disagree with your reasoning:

1. "demand will ... get high because miners will ... not sell"

That's a common misconception. Lack of supply does not create demand.

2. "miners will surely not sell their mined Bitcoin's at a lower price."

That's wishful thinking. People sell at a loss all the time. There is no reason to believe that miners won't. Miners must sell bitcoins to pay bills. They can't simply hold if they are losing money.

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April 08, 2019, 07:28:28 AM
 #6

OP, I believe the "drama" will start after two halvings. There will be some "influencial" people from the community who will start a "campaign" for a hard fork to change the reward schedule, but without inflating the supply.

I will say it now, "I told you so". Cool

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April 08, 2019, 07:30:42 AM
 #7

I've been thinking of some possible scenarios that will happen when all Bitcoin is completely mined and miners will be depending on transaction fees of Bitcoin. I think that the price of Bitcoin will start to soar at that time without any manipulations because the demand will start to get high because miners will surely not sell their mined Bitcoin's at a lower price. At that time the circulating supply and total supply of Bitcoin is completed and there will be no more Bitcoin's created or produced. In my own point of view, this is some kind of another bullish event if we reached this point of time(when all BTC are mined).

What do you think? Cheesy

dont mind it because when the time that all bitcoin mined we are no longer existing, but that is true if the demand raise over the years the price might go to bullish one because the supply are too small to supply the demand that is why the price will go to the moon, the sad thing with it we were no longer experience it soon.
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April 08, 2019, 07:57:23 AM
 #8

That's just one of those things that can happen when there is no bitcoin to mine, the price will no doubt increase But we should  focus on it as well, is it possible for investors to enjoy it? I mean If the price is so High how will it be for new Investor to invest on Uncertain Investment, The Up and Down price on the market let alone the bearish market today, Hopefully, our Dream will come true and it will grow and will not fall when there is no Bitcoin to mine.

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April 08, 2019, 08:00:15 AM
 #9

OP, I believe the "drama" will start after two halvings. There will be some "influencial" people from the community who will start a "campaign" for a hard fork to change the reward schedule, but without inflating the supply.

There's already support for divding 1 BTC into smaller fractions in a hard fork. That's the end of it really, instead of mining new coins ending in the year 2140 (as things are now), mining will stop in the year 2200 or something like that

Why do you want to promote drama that doesn't even exist?

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April 08, 2019, 08:48:03 AM
 #10

Hilarious. No one can predict the values of any cryptocurrency in this extremely volatile market where the values swing upwards and downwards for some reason(No reason sometimes) which is why you asking us to predict something like this is hilarious indeed.

Lets take things one step at a time op.

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April 08, 2019, 08:52:02 AM
 #11

That is what most people believe or expect in the next 100 years or so, but I don't think it will be as easy as that, for by then newer and more efficient cash systems would have been developed, and bitcoin could have been overtaken by such currency systems--again, we don't know. Everything even 10 years or 5 years for now is uncertain, and with a lot of tensions going on in the major fronts of this world, I don't even think humanity would last long to see the last bitcoin being mined.

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April 08, 2019, 09:09:29 AM
 #12

As of now we cannot find the right time by which the entire sum of bitcoin gets mined. Bitcoin is all about the supply to the demand, when there is very minimal number of bitcoin to be mined there will be increased demand. This will make even a single satoshi more valuable. We're not sure about the future market, but if the need for bitcoin keeps growing same as now there'll be assured growth in value of single satoshi.

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April 08, 2019, 09:26:25 AM
 #13

Don't worry about mining. It doesn't matter how many bitcoin will be mined. Because in every bitcoin transactions that we have and every bitcoin that we use bitcoin will always have an income so don't be afraid that bitcoin will be die because of mining. It can affect the bitcoin price but is only a normal situation.

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Wind_FURY
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April 08, 2019, 09:39:09 AM
 #14

OP, I believe the "drama" will start after two halvings. There will be some "influencial" people from the community who will start a "campaign" for a hard fork to change the reward schedule, but without inflating the supply.

There's already support for divding 1 BTC into smaller fractions in a hard fork. That's the end of it really, instead of mining new coins ending in the year 2140 (as things are now), mining will stop in the year 2200 or something like that

Why do you want to promote drama that doesn't even exist?


I heard other proposals of a hard fork to take Satoshi's Bitcoins, then distributing them to the miners. Roll Eyes

Plus who's promoting? I'm ridiculing. Unless it's a bug or something that threatens impending doom for Bitcoin, a hard fork will never get consensus.

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April 08, 2019, 09:39:29 AM
 #15

It is really hard to predict what will be the outcome when all bitcoin has been mined but rest assured that it will go by what you think OP. We can do a lot of speculation but still, we can't predict it.
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April 08, 2019, 10:43:59 AM
 #16

There is still many years until all BTC would be mined. For example, till that time someone can invent a new super miner with a huge, for the current moment, hashrate and low electricity consumption.
Miners always work on getting a better equipment and since GPU mining hashrate is constantly growing. For now nothing tells us that this trend should stop.

pawanjain
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April 08, 2019, 11:34:54 AM
 #17

we can barely predict what is going to happen in a year or 10 years from now. you are asking us to predict what will happen after about 90 years! that is simply impossible. not to mention that this topic has been discussed before many many times. example of the most recent duplicate topic: https://bitcointalk.org/index.php?topic=5128657.0
Yeah bud, I don't know why people are so concerned about a thing that is going to happen in the next generation. 90 years is so long that most of us won't even be alive until that time.
Despite that, the topic has been discussed so many times that if I filter the search results, I ll find pages full of threads related to supply being ended. I must say, people don't even want to use the search function before creating a new thread.

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April 08, 2019, 12:00:48 PM
 #18

I still think very optimistic that when bitcoin is fully exploited in 2030, then the price of bitcoin will increase rapidly. Besides bitcoin technology has improved a lot, bitcoin is accepted most of the world, becoming a legitimate payment method. but that's just my optimistic thinking, nobody knows until 2030 bitcoin will become scarce or become worthless.
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April 08, 2019, 12:19:32 PM
 #19

Your opinion propagates heightened demand and scarcity which culminates in the price of Bitcoin soaring. This is true. And I guess it could be for this reason that those who put the expected Bitcoin ATH at over $50,000, $150,000 are doing so. However, we don't know yet what year all this will be. No man is God to know the future. We can only speculate.

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April 08, 2019, 12:22:17 PM
Last edit: April 08, 2019, 02:50:32 PM by franky1
 #20

OP, I believe the "drama" will start after two halvings. There will be some "influencial" people from the community who will start a "campaign" for a hard fork to change the reward schedule, but without inflating the supply.

There's already support for divding 1 BTC into smaller fractions in a hard fork. That's the end of it really, instead of mining new coins ending in the year 2140 (as things are now), mining will stop in the year 2200 or something like that

Why do you want to promote drama that doesn't even exist?

Plus who's promoting? I'm ridiculing. Unless it's a bug or something that threatens impending doom for Bitcoin, a hard fork will never get consensus.

because LN is a separate network. and BITCOIN was changed to meet LN needs(not the other way round) the same group that instigated hardforks using consensus bypasses in 2017 to make bitcoin LN compatible. will do the same thing again to make the bitcoin units of account more appear to be the same as LN's pegged tokens. to attempt to hide that LN is pegged tokens

learn millisats

with 8 decimals the year 2140~ is the year mining rewards cant be divided. but adding 1000 subunits means that bitcoin can have many more 'bitcoin halving' events beyond 2140
eg 1000, 500,250,125 which is 4 extra NON-Rounded halvings which is 16 years of more units of account bing added to circulation

what you also have to realise is that at code/PROTOCOL level units of account are measured in satoshi's. so messing with the units of account do actually matter. once you look beyond the propaganda hype and buzzwords of human drama and the user interface and look at the code you will realise that the units of account changing from
~2,100,000,000,000,000
~2,100,000,000,000,000,000 matters

yes some people will buzzword it that its still going to be 21m 'bitcoins' . but the reality is a 'bitcoin' is a basket term for 100,000,000 satoshis
much like saying a banana pallet is 1000 banana's. and then saying there are only ever 100 pallets in a truck. yet by adding 10 banana's per pallet and still trying to say there are only 100 pallets, does not hide the fact that there are now 1000 extra banana's that can be shared around

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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