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

[Ryker1]

Well, yes I think it matters the supply and the demand theory if no new bitcoins are available to supply is low and demand is more likely to remain constant. Indeed, rather than crashing the bitcoins would spiking and surge in value, the supply, and the demand theory works in amazing ways. There are miners compete to "solve" each block in having a transaction of bitcoin, and the winner obtains what bitcoins are contained in each block reward. Do you think they are leaving to mine once the demand become lessen and the price at the high price stage?

[Indamuck]

You can't say that for certain, if everyone decides to keep the inflation rate higher then it will happen.  I think Satoshi intended for the set inflation rate to just be temporary until the majority agreed on what would be acceptable in the future.

Also I wonder how many total bitcoins are completely lost.

[anoufal]

We still have 15% that can be mined for a very long time.

[squatter]

We still have 15% that can be mined for a very long time.

In 5 more years, around 94% of all bitcoins will have been mined. The final 100+ years of inflation will be negligible. There really isn't a long time left at all -- that's a mindset we need to change.

[minerja]

FYI

Makes good reading

https://en.bitcoin.it/wiki/Controlled_supply

https://www.bitcoinclock.com/

[felicita]

yes more than 85 % are minded.
And now it takes the same time until the last 25% are mined as it takes to mine the first 85%
The btc mining system is really good in long term 


regards

[samcrypto]

Mining will still be existed in the long run. The last bitcoin will be mined in the year 2140 so expect that miners will still get profits until that year comes. It  doesn't makes any sense if we will worry about such things. It is still profitable to mine bitcoin and take note that halving is near. Thus the inflation rate will also be checked and controlled resulting for the bitcoin's price increased.

Many years to come and no need to panic if all bitcoin are slowly being mined. The price will grow high as expected because of future demands with bitcoin. Anyway we can't stop this one, we just need to be prepared for the possible outcome because anything can happen and if you do believe that the price will be more expensive, then buying now while the supply is good is better. The halving should bring positive impact in the market next year.

[Artemis3]

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.

In theory, if everything else remains the same, half production with half demand keeps the price the same. half production with same demand should in theory double the price. But the market people are trying to catch this before it actually happens, so it ends correcting.

Suppose the "real" was 4k, after halving it would be 8k, what is it doing at 12k? So you see the price fluctuating up and down, and besides demand does vary as well, so "real" changes every second anyway.

Bitcoin production is fixed no matter what. Few miners, or many miners, every 10 minutes a new batch comes. But every 4 years this batch halves, today 12.5 but next year 6.25.

Mining is expected to become less and less profitable over time. Those large operations become inefficient and will have to size down or close completely. Price of bitcoin sometimes delays this, but don't count on it to always compensate miners needs, it won't.

The miners themselves auto regulate this. When there is so much mining (global hashrate) its less profitable for all, so many leave, and it returns being profitable for a few, which overtime becomes unprofitable again making them leave and making it attractive again... But notice on each round more leave.

[joinfree]

Not to sound too pessimistic but sometimes news about totally mining bitcoins kind of scares me. I tend to think, what is going to motivate miners to continue to keep the bitcoin blockchain network up and running when there is nothing to give them. We all know that the cost of running the bitcoin network is quite high and miners use the rewards gained from mining as a source of income to cater for their expenses.

However, if these miners decide to keep the blockchain network operating then i think bitcoin transaction fees is going to go a bit higher.

[Artemis3]

Not to sound too pessimistic but sometimes news about totally mining bitcoins kind of scares me. I tend to think, what is going to motivate miners to continue to keep the bitcoin blockchain network up and running when there is nothing to give them. We all know that the cost of running the bitcoin network is quite high and miners use the rewards gained from mining as a source of income to cater for their expenses.

However, if these miners decide to keep the blockchain network operating then i think bitcoin transaction fees is going to go a bit higher.

Last coin will be minted around 2140, but mining will become unprofitable much much earlier, much sooner than you think, in the next few years i think, or maybe a decade.

The network doesn't mind, when the large miners go, those that remain will keep it alive. That is why every 2016 blocks it readjusts difficulty. It is designed with this in mind.

See, next year the prize for finding a block will go down to 6.25 BTC, in 2024 it is 3.125 BTC, in 2028 1.5625 BTC...

Are you scared? This has been designed like this since the beginning, perhaps some people with money to burn just don't get it. But is hardly a surprise.

You may be surprised, but these design choices are what made Bitcoin as valuable as it is today, and tomorrow.

Deflation is coming, and its good, it means the end of bubbles, and fractional reserve banking with its debt and vapor money...

[boyptc]

Just to remind everyone that the 18th million bitcoin will be mined this Friday.

--> https://twitter.com/APompliano/status/1184821524194385922

I tend to think, what is going to motivate miners to continue to keep the bitcoin blockchain network up and running when there is nothing to give them. We all know that the cost of running the bitcoin network is quite high and miners use the rewards gained from mining as a source of income to cater for their expenses.

However, if these miners decide to keep the blockchain network operating then i think bitcoin transaction fees is going to go a bit higher.

They will be paid by confirming the transactions so you don't have to be negative on that side. The last coin will be more than a century from now so no worries on that matter.

[asus09]

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?

Mining way can't less supply of bitcoin or some altcoin, mining have self way how to earn some altcoin without increase supply for altcoin mining it self, many people have return from mining because not worth for get much profit with pay higher price for mining operating system, many miner have back to usually activities to invest money with bitcoin or altcoin investment beacuse mining have less earning.

[Eugenar]

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.

In this case we can expect huge market accumulation of bitcoin, so as with us, what we are going to do is to earn more bitcoin and store it on our wallet. Still, there's no reason to worry about as long as we hodl amounts of it, we are sure that when the market spikes, we have reserved and stored already and we still have another 100 years for the last bitcoin to be mined, in this case as the value of bitcoin in halving decreases, miners will refuse to sell it in lower prices.

[nasipadang]

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?

As long as the miners make more profit on mining costs, I think they will continue to mine. With the amount of mining that has 80% of the supply of bitcoin, which can be produced is not much but the value of bitcoin is getting higher, not counting the wages of transaction costs. From my view of mining, "we will leave mining if it is detrimental, then move to profitable mining" so far I have not researched much information on miners so if it is profitable it will definitely remain in the mine .

[bap2000]

The truth is very interesting questions, because the difficulty of Bitcoin has risen quite a lot, which implies higher energy costs in the search for rewards.

Another factor of vital importance is the market price, in recent weeks it has remained at a support point of around $ 8,000 and I believe that at this point it is still profitable, but land has been lost, because this year it was exceeded $ 13,000

We must also consider the fact that there are few Bitcoins to discover in the mining activity, a factor that can greatly influence a price increase.

[Sadlife]

Not to sound too pessimistic but sometimes news about totally mining bitcoins kind of scares me. I tend to think, what is going to motivate miners to continue to keep the bitcoin blockchain network up and running when there is nothing to give them. We all know that the cost of running the bitcoin network is quite high and miners use the rewards gained from mining as a source of income to cater for their expenses.

However, if these miners decide to keep the blockchain network operating then i think bitcoin transaction fees is going to go a bit higher.

lol all bitcoins will be mined in the next more than a hundred years so what scares you?we will die and leave this earth but the bitcoin miners will continue to mine after we left so why need to be scared?
dont make fun of your self because the more bitcoin was mined the longer the time will consume maining the next bitcoins.
so just chill and we will never see the last drop of bitcoin the will be mine

[jootn2kx]

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?

Mining any coin can be profitable if you are willing to sit on the mined coins and wait for their price to grow. And price growth is something that will definitely happen, since almost every single altcoin out there follows Bitcoin's liead.

[asus09]

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.

Today mining bitcoin is not effective because higher operating system than earning we got from bitcoin, paying for electric, mining tool and paying for checking our mining tools in every week, earning from mining have less with than usually we make mining transaction last three years where many project build big mining system to get much bitcoin for mining.

[Mandoy]

There is still  million bitcoins to be mined and that is still a huge amount. Miners will still continue to mine until all bitcoin blocks were mined. When all blocks are mined then possibly some miners will mine other coins while others will focus on transaction hashes. But it will still took a decade before all bitcoins will be mined and also if all bitcoins were mined that is also the start of prices going up since there will be no additional bitcoins to add in the total supply circulation.

[cheezcarls]

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?

As what Pomp says, “#3MillionLeft”.

We are so fortunate to own some Bitcoin or satoshis in our arsenal, but I think it’s time now for us to mine some more. I would be happy if I could mine at least one Bitcoin no matter how long will it take. I would inherit it to my future wife or child if mining 1 Bitcoin would take a long while for it to completed like I may not exist there anymore.

The fact is that there will be a lot of demand for Bitcoin as halving will begin next year. Maybe this is one good reason why the price have pulled back for others to accumulate more Bitcoin.