17,800,000 BTC already mined

[squatter]

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!

Segwit included a capacity increase, but fees are still so low that there's been little pressure to adopt it. I think we should let people adopt Segwit before pushing for more.

I also don't think we can wait that long to have this discussion, especially given how ugly the block size debate already got in 2017. In 10 years, the block subsidy will be down to 1.5625 bitcoins per block. That's really scary with fee revenue already this low.

We can't keep kicking the can down the road (by raising block size) and coddling users with low fees. Because when the time comes and the subsidy is drying up -- and the system is therefore becoming unreliable -- do you think users will all of a sudden be willing to pay the real cost of transactions? After being subsidized by miners for the first 20 years? I don't know. I'd rather not find out.

[FanEagle]

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  

That is really a food for thought for everyone really including me, I believe that by now, averagely, everyone should already have at least 1 BTC in their wallet, I am not talking about new investors who are still new to bitcoin or the richer ones though, because those ones accumulate bitcoin like they buy popcorn on the road. Bitcoin Is really close to closing the gap of the total supply of bitcoin.

In 10 years bitcoin has already mined almost 70 percent of the total supply of bitcoin, which means there is possibility of these supply getting exhausted in another 10 year’s time, so I am wondering where some people are getting the arithmetic of 2140 from, which is about 95 years from now. I know that bitcoin will start getting quite high gradually, but that would still not stop people from buying it no matter how expensive it is.

[serjent05]

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.

Well, I guess it can't be helped.  I also sold at cheaper price way back 2016, sold it at around $400.  If someone need money badly, you cannot see the big picture ahead since what is important is the "needed now".  Anyway it is still not late to accumulate, there is still more than millions to be mined and hundred more years for mining span. 

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 

That is really a food for thought for everyone really including me, I believe that by now, averagely, everyone should already have at least 1 BTC in their wallet, I am not talking about new investors who are still new to bitcoin or the richer ones though, because those ones accumulate bitcoin like they buy popcorn on the road. Bitcoin Is really close to closing the gap of the total supply of bitcoin.

In 10 years bitcoin has already mined almost 70 percent of the total supply of bitcoin, which means there is possibility of these supply getting exhausted in another 10 year’s time, so I am wondering where some people are getting the arithmetic of 2140 from, which is about 95 years from now. I know that bitcoin will start getting quite high gradually, but that would still not stop people from buying it no matter how expensive it is.

Indeed, we failed to notice that the total supply of Bitcoin mined had already been 17,800,000+, from 2009 to 2019, its been a decade of Bitcoin mining, and it felt like it was just yesterday.

[bitcon]

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.

Do not worry. We will not see these times. However, the price of Bitcoin will be going up each year, especially if we are talking about 15-20 years period. I believe that not so many people are ready to wait for this time. Thus, the idea of daily trading seems to be much more attractive. It is a risk, but if you become a very skillful trader, you will get profits always.

[7788bitcoin]

Let's hope that fee market is good and strong by then.

If that happens just imagine the fees you have to input for every single transactions. Logically if there is a solution where you can input more transactions in a block then the miners could have a profitable time when the mining reward ends, if not no one will mine if there is no rewards and you cannot survive with fees alone if the number of transaction does not increase. There is another hope in this regard, when the mining will not reap much profit, all the big miners will leave the scene and then home mining will be possible if anyone is willing to support mining and as a reward you will get the mining fees.

[gentlemand]

There is another hope in this regard, when the mining will not reap much profit, all the big miners will leave the scene and then home mining will be possible if anyone is willing to support mining and as a reward you will get the mining fees.

Then Bitcoin will be a sitting duck for anyone who wants to launch an attack.

Dunno how mining will work itself out but it needs to be as muscular as possible if BTC takes a step up in use and visibility. There'll be an ever increasing number of entities with an incentive to mess with it.

If 20 million people all had a few asics maybe that wouldn't be an issue, but home miners will be way more fickle than larger and more committed operations.

[xvids]

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.

therefore bitcoin will be minable for a good few years, but i believe that as they are less and less undermined their value will grow out of all proportion,i think it's the right time to start accumulating them(btc)...

I also agree we have to start saving some Sats since most of us couldn't really save a whole BTC.
I was also close on achieving 1 BTC back in 2017 through bounty and trading.
So I hope that soon I could achieve that goal and have my very first whole BTC.

[squatter]

There is another hope in this regard, when the mining will not reap much profit, all the big miners will leave the scene and then home mining will be possible if anyone is willing to support mining and as a reward you will get the mining fees.

Then Bitcoin will be a sitting duck for anyone who wants to launch an attack.

Dunno how mining will work itself out but it needs to be as muscular as possible if BTC takes a step up in use and visibility. There'll be an ever increasing number of entities with an incentive to mess with it.

Arguably, the difficulty is being driven unnecessarily fast because of miner speculation on the existing subsidy, and some eventual decline in the hash rate would be fine and expected. Whether it's an orderly decline -- as opposed to a downward spiraling crash -- is what matters.

The problem is, we have no idea how much fee pressure is enough to strike a balance between sustainable mining rewards and the diminishing returns from mining speculation. Segwit's 4MB limit may already be pushing the upper bounds since we can't just rely on mass adoption. We need to make the system sustainable with or without an exponential increase in user base.

[gentlemand]

Arguably, the difficulty is being driven unnecessarily fast because of miner speculation on the existing subsidy, and some eventual decline in the hash rate would be fine and expected. Whether it's an orderly decline -- as opposed to a downward spiraling crash -- is what matters.

The problem is, we have no idea how much fee pressure is enough to strike a balance between sustainable mining rewards and the diminishing returns from mining speculation. Segwit's 4MB limit may already be pushing the upper bounds since we can't just rely on mass adoption. We need to make the system sustainable with or without an exponential increase in user base.

Early miners wouldn't have been able to conceive of the figures flying around. I do wonder how it's going to balance itself out. I presume mining machines will get more powerful and efficient and miners will seek out cleaner and cheaper power. There'll always be money to be made and I can't ever see deep pockets vacating in favour of the little guy.

It's the biggest unknown looming but I guess it always has been and every doomy scenario so far has been shat upon in an emphatic fashion.

[Nellayar]

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 

Not yet. I am a poor person and accumulating even 0.5 BTC is impossible for me. Specially, it is hard to find a promising and generous alt campaigns. I hope that before bitcoin goes up severely. I already have savings of bitcoin even in a smaller scale. The ATH of bitcoin is nearly coming, the supply becomes smaller and smaller till 21M reach.

[1Referee]

Segwit included a capacity increase, but fees are still so low that there's been little pressure to adopt it. I think we should let people adopt Segwit before pushing for more.

Letting people adopt Segwit isn't easy when a handful of largest entities in crypto aren't going to adopt it. Blockchain.com alone could contribute an easy 10% increase in Segwit adoption if they stop sucking off Roger and Jihan. The sad truth is that it will probably never happen. In the same camp we have BitPay that will probably never adopt Segwit.

The only relatively large short term bump in adoption can be expected to come from Binance when they finally switch over, but even then I doubt that we will leave the 50% adoption mark behind for ever. The average adoption percentage currently is ~40% which is shockingly low. Litecoin is doing way better in that regard, and they don't have to scale at all.

https://blockchair.com/bitcoin/charts/segwit-usage
https://blockchair.com/litecoin/charts/segwit-usage

[tippytoes]

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.

Do not worry. We will not see these times. However, the price of Bitcoin will be going up each year, especially if we are talking about 15-20 years period. I believe that not so many people are ready to wait for this time. Thus, the idea of daily trading seems to be much more attractive. It is a risk, but if you become a very skillful trader, you will get profits always.

This is really a good opportunity for traders, short-term trading will give you profits at a very short period of time. And since the adoption is growing everyday, the value of bitcoin will continue to increase in the coming years, which is also good for long-term holders. But I am wondering how many bitcoins are considered lost from those 17.8M coins?

[dimastegar]

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.

If the reward is reduced by half, then it's clear that the miner will start selling Bitcoin at a high price.  The more difficult it is to be mined, the price will rise due to market demand. And I'm sure many people already know about this.

[Aldrinx00]

10 years? Well in every four years there is a bitcoin halving so the miners block rewards are greatly decrease by half and it will take 100 more + years approximately to mine all bitcoin that is left. I will accumulate to the best that i can because i believe the scarcity of bitcoin will increase the price in the years to come.

[squatter]

Segwit included a capacity increase, but fees are still so low that there's been little pressure to adopt it. I think we should let people adopt Segwit before pushing for more.

Letting people adopt Segwit isn't easy when a handful of largest entities in crypto aren't going to adopt it. Blockchain.com alone could contribute an easy 10% increase in Segwit adoption if they stop sucking off Roger and Jihan.

Rising fees should take care of that problem eventually. They just haven't risen enough to drive users away from Blockchain.com and towards Segwit wallets. I interpret that as an indicator that fees are actually quite low -- too low to be discussing further block size increases yet.

[wack slacker]

Segwit included a capacity increase, but fees are still so low that there's been little pressure to adopt it. I think we should let people adopt Segwit before pushing for more.

Letting people adopt Segwit isn't easy when a handful of largest entities in crypto aren't going to adopt it. Blockchain.com alone could contribute an easy 10% increase in Segwit adoption if they stop sucking off Roger and Jihan.

Rising fees should take care of that problem eventually. They just haven't risen enough to drive users away from Blockchain.com and towards Segwit wallets. I interpret that as an indicator that fees are actually quite low -- too low to be discussing further block size increases yet.

Now I only find Bitcoin useful for making large transactions from a few hundred dollars to a few billion dollars. Technology is increasingly improving and it is certain that bitcoin will be upgraded to become stronger. I wish for the payment to become faster and lower cost.

[keziakusayang]

I didn't save a bit of bitcoin.
but I will save it one day. now I prefer to save altcoin like ETH which I believe will benefit even with a small initial capital because of its low prices.
if it's true like what you said then I think when bitcoin is depleted in the mine more and more will hunt for it and of course the higher price.

[ajja]

only a small amount of bitcoin is available that can be mined, the rest is in the hands of the owner. I think thus bitcoin will be increasingly sought after and the price will definitely increase. to keep it in my wallet now I collect as much as possible. I am sure one day the price will be very high, even I do not currently have 1 btc but I will continue to look for it.
I believe many people's predictions about the price of BTC will soar several years later.

[giantrobot]

I believe in the aforementioned data, I fully believe in the bright future of Bitcoin, when it is almost fully exploited. At this time, it is certain that the price of Bitcoin will push up.
As for the second one, I have never talked about the number of Bitcoin in my wallet, which is naive and attention to the crooks. My money should only let me know, never let others know.

[btc_angela]

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.

So that is why you really need to at least get into the 1 BTC club because you won't see the last bitcoin being mine in our lifetime. It is still my goal though, I mean I wanted to earn BTC not to buy so it might take some time though, but I'm willing to take baby steps to at least get into that range.