17,800,000 BTC already mined

[TimeBits]

After mining all the Bitcoins, miners start processing transactions, receiving a reward for it. The Bitcoin network will live and I will say more, it will be very successful because, unlike fiat money, Bitcoin will suppress inflation due to its limited count

It will also lead to mass killings and already has, congrats.

Look at the bigger picture.
https://www.youtube.com/watch?v=Y7TLFyK_3Pk

[kecha1]

After mining all the Bitcoins, miners start processing transactions, receiving a reward for it. The Bitcoin network will live and I will say more, it will be very successful because, unlike fiat money, Bitcoin will suppress inflation due to its limited count

By the way, it's a good idea to redirect forces to the processing of transactions!

[Lucius]

We all look back and think that we should have bought more back in the days, but in the next 5-10 years we will say the same about today's prices. We'll be like; 'do you remember the price around $10,000? I feel so stupid for not having bought more'. Adding to your position today will help you look back happily instead of feeling like you have missed out big time.

In the end, not many people will be able to say that they own 1BTC, which you can. Bitcoin surpassed 1 ounce of Gold in terms of dollar value, and the next target is to surpass the 1KG dollar value of Gold (currently $46,450).

Most of people who invest in any cryptocurrency can hardly imagine waiting for something for 5-10 years from now, let's face it, life is so accelerated that people only look how to get instant rich. But even if you give them opportunity for that, what most of them do is to mess up - 2015 price of 1 BTC was even below $200, two years later $20 000 and how many of us get rich after that?

10 years of Bitcoin is not enough to convince people that this is something unique, and that Bitcoin is preeminent over gold, silver, fiat, stocks... So act now or be sorry in future.


For OP, you should wait 18 million Bitcoins to be mined - but there is not too much differences in what's left  - 3,2 or 3 million for next 10 years is compared to 18 millions mined in first 10 years exactly 6 times less coins.



 

[Pffrt]

We all look back and think that we should have bought more back in the days, but in the next 5-10 years we will say the same about today's prices. We'll be like; 'do you remember the price around $10,000? I feel so stupid for not having bought more'. Adding to your position today will help you look back happily instead of feeling like you have missed out big time.

In the end, not many people will be able to say that they own 1BTC, which you can. Bitcoin surpassed 1 ounce of Gold in terms of dollar value, and the next target is to surpass the 1KG dollar value of Gold (currently $46,450).

Most of people who invest in any cryptocurrency can hardly imagine waiting for something for 5-10 years from now, let's face it, life is so accelerated that people only look how to get instant rich. But even if you give them opportunity for that, what most of them do is to mess up - 2015 price of 1 BTC was even below $200, two years later $20 000 and how many of us get rich after that?

10 years of Bitcoin is not enough to convince people that this is something unique, and that Bitcoin is preeminent over gold, silver, fiat, stocks... So act now or be sorry in future.

True indeed. I was happy with selling $200 per BTC and was a thought that I have made a huge. But later, I realized it was one of my biggest mistake. Same, a lot of people from 2011 or so has sold their BTC and now crying. It will be the same for the next 10 years as well.

[Lizzylove1]

We still have a long years to go before all bitcoin will be fully mined. This is just year 2019, we do still have about 121 years to go. Most of us wouldn't be around then when the finally block will be mined. This means miners are going to stay enjoying the benefit of mining bitcoin.

[gentlemand]

We still have a long years to go before all bitcoin will be fully mined. This is just year 2019, we do still have about 121 years to go. Most of us wouldn't be around then when the finally block will be mined. This means miners are going to stay enjoying the benefit of mining bitcoin.

The final 1% takes over 110 years to arrive. That's either going to require a mind boggling price to attract people to a minuscule block reward or a ton of fees. Neither are in the bag so it's an ongoing question mark.  

[joe50]

The earlier miners and hodlers takes the bigger profits, anyone who have 0.5btc - 1 above in the next 5 years will be wealthier.
next halving will reduce the block to 6 btc, this will increase the difficulties.

[Vishnu.Reang]

We still have a long years to go before all bitcoin will be fully mined. This is just year 2019, we do still have about 121 years to go. Most of us wouldn't be around then when the finally block will be mined. This means miners are going to stay enjoying the benefit of mining bitcoin.

The final 1% takes over 110 years to arrive. That's either going to require a mind boggling price to attract people to a minuscule block reward or a ton of fees. Neither are in the bag so it's an ongoing question mark.  

Mining will go on, and transaction fee will make up for most part of the mined output. Right now, on average 0.5 BTC to 1.5 BTC in transaction fee are included in every block, in addition to the block reward of 12.5 BTC. The fee part will remain unchanged, if nothing catastrophic happens. So the mining will go on, and it will continue even after 2140.

[squatter]

This is why I'm a small blocker. The inflation subsidy is quickly dwindling down. In just a few more halvings, it will hopefully be negligible compared to transaction fee revenue -- otherwise we might need to start worrying about major drops in hash rate, reorganization attacks, etc. Any increase to block size will lower fee revenues, so I'm definitely on the conservative side when considering them.

this is not necessarily true. because the relationship between revenue and fees is not that easily.
small blocks which means higher fees will also mean less users and stop of adoption and the result of that is falling price and finally less resulting revenue for miners.
on the other hand bigger blocks can mean more transactions in block which have a higher sum of fee instead of having individual high fees and it also means more adoption and the result of that is higher price and finally a much higher revenue for miners.

I don't think the bolded statement is a safe assumption to make. The fee market is a function of how full blocks are (at any size) -- it doesn't linearly aggregate fees as blocks get bigger. Increasing block size won't necessarily increase fee revenue because it will also reduce fee pressure by providing more block space. That means more transactions, more bloat and cheaper fees but not necessarily more revenue for miners to replace lost subsidy.

Let's assume that Bitcoin adoption is increasing, regardless of the transaction fees users need to pay. Then all else equal, keeping block weight limit static will increase fee revenue for miners. The same cannot be said if increased adoption (demand for block space) is being negated by increasing block sizes. In that situation, we're left hoping that speculative price increases are enough to incentivize miners.

[Baofeng]

Anyone noticed that we have breached 17,800,000 BTC already? Which means that 85% of all BTC have been mined. And in the next 10+ years we can all assumed that 'almost' all bitcoin is mined already. Have you accumulated at least 1 BTC in your wallet?

Current bitcoin mined:  17,851,062 BTC 

At the moment miners are rewarded with 12.5BTC per block mined. In 2020 it will reduce to 6.25BTC per block mined. There is a block reward halving every 4 years so if you do the maths the very last bitcoin will be mined in approx, the year 2140.

That's why I say "allmost all" bitcoin is going to be mined in the next 10++ years because we won't see the last bitcoin in 2140. 90%-99% for me will be enough, theoretically, there's 20999999.9769 million supply, not 21 m, due to the bug in the early days of bitcoin mining.

So let's continue to accumulate at 1 BTC in our lifetime.  

[Pffrt]

That's why I say "allmost all" bitcoin is going to be mined in the next 10++ years because we won't see the last bitcoin in 2140. 90%-99% for me will be enough, theoretically, there's 20999999.9769 million supply, not 21 m, due to the bug in the early days of bitcoin mining.

Which one you are talking about? Is it becauae of the reward model of mining? I'm a bit confused.

So let's continue to accumulate at 1 BTC in our lifetime.  

If there will be 10 million BTC holder who at least hold 1 BTC, can you imagine where BTC price will be?

[Johnyz]

Saw this one and I feel like on a panic mode because I don't have much bitcoin yet because of many financial needs. The next halving are also coming, we can expect a low supply which can make the price of bitcoin goes higher. Its good if you have more bitcoin today, congrats!

[babysweetTiger0401]

Keeping a bitcoin, and hopefully everything goes well or just 0.5 Bitcoin, we can imagine our future life will be better. There is nothing to disappoint about Bitcoin. Look at the chart, look at the needs, look at what they are saying and that is the truth.

I definitely agreed with you dude, Bitcoin still remain the top of the digital currency in this field of business.
I also believed bitcoin has a big future were in the end it could be the world currency in my own perception.
Bitcoin never always amazed me even ti dropped last year I still believed in it.

[slaman29]

Saw this one and I feel like on a panic mode because I don't have much bitcoin yet because of many financial needs. The next halving are also coming, we can expect a low supply which can make the price of bitcoin goes higher. Its good if you have more bitcoin today, congrats!

This is just conjecture on the basis that people like you panic;) No offence, but if there was 20 million or 20 bitcoins mined, the only thing most people look at is price. If the price is low enough they will buy it (psychological) and if they understand Bitcoin and they want it anyway, they will even buy 10,000 satoshi if that is all they can afford.

[Lucius]

True indeed. I was happy with selling $200 per BTC and was a thought that I have made a huge. But later, I realized it was one of my biggest mistake. Same, a lot of people from 2011 or so has sold their BTC and now crying. It will be the same for the next 10 years as well.

I also buy some BTC in 2015, and sold them for profit of only $50 or something like that - then it seemed quite normal thing, but of course I failed to see the big picture and understand the potential of BTC. But today people can look in past and learn from our bad moves, although we cannot be sure what will be in 5 or 10 years, price of 1BTC should be at least 10 times bigger than today. Of course inflation should be taken into account, and fact that $100k today and in 10 years will not be same - life is likely to be much more expensive than it is today.

I would say that it is not bad to pay with BTC when you can do that, or convert some to fiat from time to time, but it is also smart to hold some coins for long-term. I think that in next 10 years we will be able to pay with BTC almost everywhere, without high fees or waiting for confirmations, Lightning Network will be something fully implemented and easy to use.

[gentlemand]

I also buy some BTC in 2015, and sold them for profit of only $50 or something like that - then it seemed quite normal thing, but of course I failed to see the big picture and understand the potential of BTC.

I can understand why someone would've offloaded when Bitcoin hit $1. It was still a pure experiment that could've crapped out any second. I've no idea why anyone would do it at any point after that unless they needed the money.

The price action was of course pretty dire and boring in 2015 but 2014 was heaving with amazing developments that pointed to nothing other than an amazing future. All the same I remember a lot of users declaring $300 would never, ever, ever happen again.

Bitcoin fans have always had a problem conceiving of its scale. Some think it's vastly bigger than it actually is. Others can't see beyond the end of their own private key and fail to perceive all those millions of people and machines who'll be beavering away no matter what the price is doing that minute.

[Little Mouse]

After all BTC (99%) mined, a significant move will be there since there will be no more supply and within that time, more people will be interested in bitcoin. For me, 1 BTC is still a big amount to accumulate. From my earning, I used to hold a certain portion for the future.

[Vishnu.Reang]

After all BTC (99%) mined, a significant move will be there since there will be no more supply and within that time, more people will be interested in bitcoin. For me, 1 BTC is still a big amount to accumulate. From my earning, I used to hold a certain portion for the future.

A few months back, Charlie Lee (the inventor of Litecoin) said during an interview that every cryptocurrency user should strive to accumulate one BTC in his wallet. Despite being the inventor of an altcoin, he was saying that we should focus on alts only after accumulating 1 BTC. I agree with him. After all, Bitcoin was the first and original cryptocurrency.

[Broly46]

It is harder to accumulate btc during the bull market, I can get more during the last bear, but I didn’t manage to get 1btc because of the suddenly pump on the price, I’m still content with it, because I’ve more btc now compare to 2017, 1btc might be possible in the next bear market if my timing were perfect again. It would be easy to just buy it with hard earned money, but I don’t want to cheat the process and accumulate it in a intended manner, my principle are simple, do anything but don’t buy it, because it is how we can avoid all kind of risk, when you’re buying something you’re dealing with risk, when it’s free, it’s risk free.

[pooya87]

This is why I'm a small blocker. The inflation subsidy is quickly dwindling down. In just a few more halvings, it will hopefully be negligible compared to transaction fee revenue -- otherwise we might need to start worrying about major drops in hash rate, reorganization attacks, etc. Any increase to block size will lower fee revenues, so I'm definitely on the conservative side when considering them.

this is not necessarily true. because the relationship between revenue and fees is not that easily.
small blocks which means higher fees will also mean less users and stop of adoption and the result of that is falling price and finally less resulting revenue for miners.
on the other hand bigger blocks can mean more transactions in block which have a higher sum of fee instead of having individual high fees and it also means more adoption and the result of that is higher price and finally a much higher revenue for miners.

I don't think the bolded statement is a safe assumption to make. The fee market is a function of how full blocks are (at any size) -- it doesn't linearly aggregate fees as blocks get bigger. Increasing block size won't necessarily increase fee revenue because it will also reduce fee pressure by providing more block space. That means more transactions, more bloat and cheaper fees but not necessarily more revenue for miners to replace lost subsidy.

Let's assume that Bitcoin adoption is increasing, regardless of the transaction fees users need to pay. Then all else equal, keeping block weight limit static will increase fee revenue for miners. The same cannot be said if increased adoption (demand for block space) is being negated by increasing block sizes. In that situation, we're left hoping that speculative price increases are enough to incentivize miners.

i am talking about a balance between all these factors instead of an imbalance that damages bitcoin.
we need to increase the "capacity" so that it is capable of handling more users but at the same time we need to keep it at a level that both ensures decentralization and keeps the fee market to prevent cheap spam but not an outrageous fee market where fees reach unreasonable levels.

besides the arguments about fees and miners incentive doesn't belong here for at least another 10 years!