85% of All Bitcoin Have Now Been Mined!!!

[nankers]

I saw that today bitcoin has increased in price and this has made me interested in looking for news about bitcoin and I found this article which in my opinion might affect the rise in bitcoin prices today. try you see this article

https://www.trustnodes.com/2019/08/01/85-of-all-bitcoin-have-now-been-mined

what makes me interested in this news is the statement that "Just circa half a million coins (about $ 5 billion) are now left to be mined until next year when the block rewards are halved to ₿6.25 from the current ₿12.5" the statement made me asking "is mining next to bitcoin still existing (effective)? or will people start leaving to mine bitcoin?"
What do you think? are your thoughts the same as mine?

[valentin68]

The bitcoin mining is effective, the last bitcoin will be mined somewhere in 2140.

As of today, to mine 1 bitcoin there are necessary resources with a value of approximately 12 000 USD (energy, electronic equipment, buildings, air conditioning, man power etc).

This is why the price of 1 bitcoin is going up, because every product in this world has the price of the work and resources necessary to manufacture it.

[Nadziratel]

I saw that today bitcoin has increased in price and this has made me interested in looking for news about bitcoin and I found this article which in my opinion might affect the rise in bitcoin prices today. try you see this article

https://www.trustnodes.com/2019/08/01/85-of-all-bitcoin-have-now-been-mined

what makes me interested in this news is the statement that "Just circa half a million coins (about $ 5 billion) are now left to be mined until next year when the block rewards are halved to ₿6.25 from the current ₿12.5" the statement made me asking "is mining next to bitcoin still existing (effective)? or will people start leaving to mine bitcoin?"
What do you think? are your thoughts the same as mine?

85% are ready and things are getting harder for the rest. The degree of difficulty will increase and block prizes will be halved next year. That's when the real show starts.

[Janation]

I think miners will continue to mine and I don't think people now are thinking themselves to mine since the difficulty of it increases per year.

That means next year will be more harder to mine than this year. Saying that, people will choose to invest than to mine, miners will continue to mine since the harder it will be mined, I hope, it will be more expensive. More users, more fees, miners will still continue to mine.

[Duzter]

As the coins to be mined keeps decreasing the difficulty for the same keeps increasing. The best days for miners were 2017, and during the days of bitcoin priced around $3000 the electricity consumption, investment on mining equipments were high that could never get a profit. By those days a large number of mining firms were shut down. When bitcoin is mined 100% further the network fee on transactions will be received by the miners as their reward.

[minerja]

I think, at the next block halving you will see a short term massive drop in difficulty, as miners realise that they are suddenly going from profit to huge losses.
Over time it will re-stabilise, but i think the overall difficulty will remain significantly lower than pre-having.
That said, if any of us actually knew what was going to happen, then we'd be better off selecting the lottery numbers
J

[boris2470]

In my opinion mining is not the most effective way to make money beginning last year. There are only huge mining farms have some profit. Most likely 2020 will be the last year for mining. As for Bitcoin, its price will increase, but I'm afraid that the entire stock of coins will be distributed between whales what will make big manipulations on the market

[TimeBits]

I saw that today bitcoin has increased in price and this has made me interested in looking for news about bitcoin and I found this article which in my opinion might affect the rise in bitcoin prices today. try you see this article

https://www.trustnodes.com/2019/08/01/85-of-all-bitcoin-have-now-been-mined

what makes me interested in this news is the statement that "Just circa half a million coins (about $ 5 billion) are now left to be mined until next year when the block rewards are halved to ₿6.25 from the current ₿12.5" the statement made me asking "is mining next to bitcoin still existing (effective)? or will people start leaving to mine bitcoin?"
What do you think? are your thoughts the same as mine?

No it is not interesting at all it`s not a smart idea to have a limited supply when we don`t limit the people.
https://www.youtube.com/watch?v=Y7TLFyK_3Pk


Take it from one of the best Real Time Strategy players in the entire world.

[NeuroticFish]

what makes me interested in this news is the statement that "Just circa half a million coins (about $ 5 billion) are now left to be mined until next year when the block rewards are halved to ₿6.25 from the current ₿12.5" the statement made me asking "is mining next to bitcoin still existing (effective)? or will people start leaving to mine bitcoin?"
What do you think? are your thoughts the same as mine?

This is not news. This is by design.
As long as mining produces more money than it consumes (whether from block reward, whether from tx fees), as long as mining is even slightly profitable, mining will go on.
As you can see, mining can be profitable even with lower (and hopefully even 0, some day) block reward.
If you check the charts, the difficulty is still rising, meaning that new miners come in.

If mining will become less profitable, some miners will leave, making the difficulty drop and giving more profit to the ones remaining. A self-adjusting system.



The price.. is another story. As long as people are willing to sell this cheap, price stays as it is. Quite a lot of speculation makes the price not reflect the real "value". And the miners... I guess that they count the things in Bitcoins/kWh (after the gear is paid off), which doesn't really change by the percents mined, it'll change only at halving.

All in all, this "new" 85% means absolutely nothing spectacular.

[hugeblack]

These percentages do not mean anything, the total number of mined bitcoin will not effect on mining but the costs to produce new coins and the benefit of mining.
You can notice that the price of BTC fell to less than 4000$ which makes Mining unprofitable, have it stopped? No, because the number of miners will be reduced and therefore the equivalent of the rest will increase. vice versa.
Therefore, the impact of price on mining will not be a fundamental value but a psychological effect.

Next year, halving will reduce block reward, which makes Mining profits reduce and therefore increase BTC value if demand increases. In other words, if the ratio reaches 90% unless there is demand, Mining will continue.

[traderethereum]

People will not leave mining bitcoin as long as the bitcoin price can increase higher because they will consider that bitcoin is like gold in real life.
But bitcoin will not be easy to mine because the difficulty will increase after the halving and the more people mining bitcoin, the more difficulty will increase again.
And I think the demand of people to buy bitcoin directly at the market will also increase and that could impact the price which will increase higher.
Only people who have a big hash rate can make mining bitcoin, but I don't think they can get big rewards too in a day.
The bitcoin mining will be effective if bitcoin price increase, and as per now, bitcoin price is at more than $10k, and it might increase more than that.

[Kakmakr]

Well, the theory is that miners will continue mining because the miners fees would increase as adoption increase and this will generate enough transactions to make up for the Block rewards that would not be paid in the future. I think technologies like the Lightning network undermine that theory, because these transactions will be done off-chain and it would cause a reduction in the on-chain transaction volume. 

This is why Bitcoin is still seen as an experiment, because not all scenarios has occurred to determine if it would be self-sustainable in the future. I think people will still mine, even if it is just to support their other Crypto currency businesses that are built around Bitcoin payments. 

[Little Mouse]

  the statement made me asking "is mining next to bitcoin still existing (effective)? or will people start leaving to mine bitcoin?"
What do you think? are your thoughts the same as mine?

This statement clears everything why BTC price will increase significantly soon after the halving. Miners will never leave mining and the cost must be above BEP, which clearly says where the price will stand.

[coolcoinz]

  the statement made me asking "is mining next to bitcoin still existing (effective)? or will people start leaving to mine bitcoin?"
What do you think? are your thoughts the same as mine?

This statement clears everything why BTC price will increase significantly soon after the halving. Miners will never leave mining and the cost must be above BEP, which clearly says where the price will stand.

Historically, as far as I remember, the price used to increase before the halving. It acts like a living being when it expects something to happen. It holds breath and stares at it ready to act, but when it happens and the effects aren't severe, it breathes a sigh of relief. That's why there's a big FOMO in anticipation of every halving (like the last time when BCH split) and a relief dump soon after.

[YuginKadoya]

Last drop of blocks! may surely make the price of bitcoin increase even further enough by the time the last block gets mined the price may very well have a very decent amount and right now the price will surely increase and this is inevitable if we further look on the previews movements it will always be like that, And in my opinion given the popularity of Bitcoin now it will continue to become even well known and no one can sure stop it from becoming a global denomination in both currency and asset, I truly believe that Bitcoin will be in that spotlight.

[d_fitrie]

About this kind of discussion already in the previous thread

https://bitcointalk.org/index.php?topic=5171257.0

still interesting to discuss, already 85% or BTC17.8 million have been mined and in the previous thread mentioned 10+ years in the future it is estimated all have been mined

[BitHodler]

This statistic is cooler than it looks because if people didn't know that 85% of the coins have been mined already, they wouldn't notice anything. The price already reflects the current stage we're at.

The most important aspect of the supply is that we'll be seeing Bitcoin's net inflation be cut in half next year, which should bring it to more or less a similar inflation rate as gold and the more established fiat currencies.

Important to note is that even with lower inflation and thus fewer coins being mined, the price will still be extremely volatile due to how speculation driven this market still is. I don't see this change at all.

People here might be convinced that Bitcoin will make it and be worth trillions, but the institutions entering don't look at it as such-- they will exit the moment the charts turn ugly and that means they will take their money with them.

[Herbert2020]

"Just circa half a million coins (about $ 5 billion) are now left to be mined

this statement doesn't make any sense because we are not mining $, we are mining bitcoin!

until next year when the block rewards are halved to ₿6.25 from the current ₿12.5" the statement made me asking "is mining next to bitcoin still existing (effective)? or will people start leaving to mine bitcoin?"
What do you think? are your thoughts the same as mine?

well when last time the reward went from 25 to 12.5 miners were earning about $9000 per block. today the reward is still 12.5 but they are earning $135000+ and even if we halve that they are still making $67,500 which is A LOT higher than when they started mining at half the reward at $9000 ish per block.

[CBANX2]

Bitcoin is at the verged of halving at somewhere in 2020 which will halve the mining rewards to 6.25 BTC, therefore, miners are trying to earn maximum BTC before halving.

[dimastegar]

Cutting the reward in half next year will be very influential for the miners. This year is the last chance for miners to get a reward of 12.5 Bitcoin per block. At the very least, this must be put to good use before halving. And this is a 4 year cycle that will continue until all Bitcoin has been mined.