17,800,000 BTC already mined

[bkbirge]

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 

The last Bitcoin is predicted to be mined in 2140. It sounds crazy but it seems to be real. I wonder what will happen after the last Bitcoin is mined. For example, what will Bitcoin miners do then ?

Thinking about 2140 is like people in 1900 thinking about today, imagining all the inventions that are really just improvements on what they know instead of what they can't even comprehend like GPS and gene therapy. Think of all the unexpected inventions and change over the last 120 years and project that into the next 120. The world will be a very different place. I expect even the term 'bitcoin miner' will seem antiquated.

[Clement Kaliyar]

The last Bitcoin is predicted to be mined in 2140. It sounds crazy but it seems to be real. I wonder what will happen after the last Bitcoin is mined. For example, what will Bitcoin miners do then ?

When all the bitcoin are mined then the miners will survive with the transaction fees alone, consider the price during that period and transaction fees will be more than enough for the miners to continue their activity and hopefully we will see much improved solution to include more transactions in a block, we will see changes in the future to make this function even after all the coins are mined and how this will be done is the headache of the developers as i am just an end user.

[PochJvb]

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 

With current computational power, the last BTC will be mined in 2140. With 17 million already mined I don't think there is much benefit in mining BTC.
No, I am not that fortune to have One BTC in my wallet. Just few ethereum though

[gentlemand]

With current computational power, the last BTC will be mined in 2140. With 17 million already mined I don't think there is much benefit in mining BTC.
No, I am not that fortune to have One BTC in my wallet. Just few ethereum though

The hash rate is at or near all time highs which tells us there's a ton of benefit in mining BTC otherwise they wouldn't be bothering. They certainly are not doing it for fun. I'll bet most miners do not care in the slightest about what they're mining as long as the dollars keep rolling in.

[Whittiesense]

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.

By 2140??? Oh wow! Didn't think it would take that long for the remaining 15% to be mined. Crypto traders should have filled their wallets with more than 2 BTC by then ☺️

[btc_angela]

With current computational power, the last BTC will be mined in 2140. With 17 million already mined I don't think there is much benefit in mining BTC.
No, I am not that fortune to have One BTC in my wallet. Just few ethereum though

The hash rate is at or near all time highs which tells us there's a ton of benefit in mining BTC otherwise they wouldn't be bothering. They certainly are not doing it for fun. I'll bet most miners do not care in the slightest about what they're mining as long as the dollars keep rolling in.

Exactly, it is going to be profitable for miners even if they continue to mine even if we get past the next block halving after 2020. Because $$$ will come, bitcoin demands will definitely grow in the future so there are incentive for miners specially for those big mining company out there. Why not start to 0.01 -> 0.1-> 1 BTC goal?

[Itsmylife]

Hey guys, I want to know what would happens if all of Bitcoins are mined?

[crossabdd]

some articles estimate that bitcoin will be depleted at the mine in 2140 ( https://cryptalker.com/bitcoin-mining-end/ ), so by calculation bitcoin still has a halving 30x until the last reward at the mine. so that the 15% amount has a longer time than 85% that has been mined. but we also don't know what the future of bitcoin will be like. will either reach the last mining point. or will make a new upgrade.

[Murat]

So really, are we going to have a Bitcoin supple more and more? Is it favorable to this system for the future purpose? I have a little shock that if this mining rate is increasing day by day then the demand may face a crisis because we know that when supply is more then demand will less and when the supply is less then the demand, as well as price, is also more, In this sense, Bitcoin mining should be considered once again for the shake of this platform, I don't say that Bitcoin mining should be controlled, I know mining is good for the future but I am concern of its future prospect, nothing else.

[adeandro]

As soon as the last coin is mined, the price of bitcoin will grow several times.

[Astvile]

It will still take roughly 25 more years for all bitcoins to be mined and I don't know why I'm getting excited about it im wonderint how price would move by that time.

. Have you accumulated at least 1 BTC in your wallet?

Current bitcoin mined:  17,851,062 BTC 

I've accumulated well over 5 bitcoins in my wallet but not even a satoshi is left now lol due to some bills needed to pay in suprise and rush.

[bitbunnny]

some articles estimate that bitcoin will be depleted at the mine in 2140 ( https://cryptalker.com/bitcoin-mining-end/ ), so by calculation bitcoin still has a halving 30x until the last reward at the mine. so that the 15% amount has a longer time than 85% that has been mined. but we also don't know what the future of bitcoin will be like. will either reach the last mining point. or will make a new upgrade.

There is still plenty of time and I don't think we should bother now what would happen when all coins are mined. It's so distant future that makes no sense to make any kind of predictions, if the demand will rise, if supply will be sufficient. I'm more focused on current situation.

[bitcoin31]

For this moment the bitcoin was already mined is 18 million and we still have 3 million to be mine in the future.
In all of my wallet the total bitcoin that I have since I started I think 6-7 bitcoin and still counting.
There's anyone knownthe date when the last bitcoin will be mine or even exstimated anybody know that?

[Mind Control]

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

That won't be the case, when all the Bitcoins were mined, there are no more rewards for every block that will be mined. Instead, the minerss will have to place higher transaction fees just to sustain the profitability of mining. With this, we can assume that transaction fees of Bitcoin will be very high compared to the current fees.

[Lucius]

With 17 million already mined I don't think there is much benefit in mining BTC.

You are short for more than 1 million BTC, there is more than 18 million mined and by the time of the next halving we have 1800 new coins mined every day. Mining of BTC is a very profitable business, but not for people who want to do that with PC or some outdated technology. In this game you need money, a good location with cheap electricity and earnings are guaranteed. The price of mining 1 BTC in China is around $3000, they do it for huge profits.

It will still take roughly 25 more years for all bitcoins to be mined and I don't know why I'm getting excited about it im wonderint how price would move by

I'm just curious how you got to 25 years? Mining of the last block should happen sometime around the year 2140, so your calculation just doesn't make sense. I mean it's pretty useless to write again, most people do not read anything on this forum except titles, but 99% of BTC will be mined by year 2032 so that 1% and year 2140 make no sense to us who live today.

[teosanru]

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 

You are absolutely wrong. The halving is due next year when the.block Reward would be halved automatically. Once this is done miners would get lesser btc after each block. After this there are many more halvings which would create a shortage in creation of Bitcoin and all the Bitcoin together will not be mined until 2134 it's because hash rates would make it much more difficult for miners to mine Bitcoin.

[abdobe]

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 

You are absolutely wrong. The halving is due next year when the.block Reward would be halved automatically. Once this is done miners would get lesser btc after each block. After this there are many more halvings which would create a shortage in creation of Bitcoin and all the Bitcoin together will not be mined until 2134 it's because hash rates would make it much more difficult for miners to mine Bitcoin.

I wonder if mining will pay off when the Bitcoin block reward is halved? It seems to me that the electricity and the price of equipment will exceed the payback

[jets567]

I wonder if mining will pay off when the Bitcoin block reward is halved? It seems to me that the electricity and the price of equipment will exceed the payback

Good question, based on the previous halving which happened last 2012 & 2016 the price of Bitcoin always went up and creates new ATH at least one year after the halving and I think this is one of reason why miners continue to mined Bitcoin because they still see it as profitable. With regards of electricity consumption there are mining hardware already that is available in the market which is cost efficient and I bet they will continue to improve these in the future.

[bkbirge]

It's an ongoing race between the btc algorithm's built in austerity and miners' efforts to squeeze profit from it. ASICs are still improving, energy costs are widely variable around the world, regulations can hurt or help depending on the country, etc. I think miners will be just fine for the next few halvings at least.

[Dabs]

I think more important than the last bitcoin, is the last one percent to be mined, which happens after a couple more halvings, around 2030, roughly another ten years from now. That means 99% of all bitcoin will have been mined, then it's another hundred years to the last bitcoin.

It's at this point, much earlier than in the year 2140, where we will begin to see massive adoption and price increase. From 2030 to 2040 may be another decade where stabilization may happen, and from 2040 all the way to 2140, we will see much less volatility. We just can't predict how much less, and for most people it's irrelevant since plenty of us won't be alive for the last bitcoin anyway.