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

[Cityhunter123]

Yes, but this does not mean that you can forget about mining at all, it can still be profitable

[bounceback]

I also think as you said, if we see that now bitcoin has become popular among people especially young people now they are more interested in investing in bitcoin than they work in the real world and if I think bitcoin miners are not too much compared to people who invest in bitcoin because if someone wants to mine bitcoin, they must have a lot of capital to buy mining equipment.

[Astvile]

What do you think? are your thoughts the same as mine?

People won't leave mining business just because all bitcoins were totally mined, they must continue to mine because without them transactions will be close to impossible to be confirmed in fast phase. Plus with the mining of all bitcoin there will be the price inflation and miners should lived off on bitcoin transaction fees alone, which will cost us alot for sure in USD value because bitcoins price will surely still rise.

[SummerBliss]

More people are concentraring on investing in btc rather than mining it because with shortage or supply becoming less it is becoming difficult for miners to mine it and the resources used such as equipmemt and electricity prices are also increasing.But still miners will not leave mining due to the profit but it will become expensive and price of one bitcoin will also high.

[teosanru]

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?

I think these things generally balance themselves. As the halving comes many miners will definitely stop mining and therefore the total number of miners would go down and per miner reward would automatically adjust itself. However this would come only with some increase in computing power by the remaining ones. But definitely mining I think is reducing in business nowadays. It only came in fashion because people though of it as a passive Income which could generate them reaping profits just with certain initial investment but no one would be willing to make such astonishing investments considering the returns are going down.

[xiboothrezi]

People won't leave mining business just because all bitcoins were totally mined, they must continue to mine because without them transactions will be close to impossible to be confirmed in fast phase. Plus with the mining of all bitcoin there will be the price inflation and miners should lived off on bitcoin transaction fees alone, which will cost us alot for sure in USD value because bitcoins price will surely still rise.

You are right. bitcoin that has been mined does not discourage miner's interest to mine bitcoin. On the contrary, it motivates them more because it means that bitcoin is getting scarcer, with a higher level of difficulty, the operational costs and treatments needed are also greater, it is certain that the chance of bitcoin to reach a new record price is getting bigger.

[Wysi]

I also think as you said, if we see that now bitcoin has become popular among people especially young people now they are more interested in investing in bitcoin than they work in the real world and if I think bitcoin miners are not too much compared to people who invest in bitcoin because if someone wants to mine bitcoin, they must have a lot of capital to buy mining equipment.

I would say mining is the worst option for anyone without a huge capital and risk investment as I have personally incurred huge amount of lose as due to volatility as well as high cost of electricity as it was profitable initially then the marked got doomed. It's better to avoid mining if a are a low or mid level investor as this is not for us.

[nankers]

What do you think? are your thoughts the same as mine?

People won't leave mining business just because all bitcoins were totally mined, they must continue to mine because without them transactions will be close to impossible to be confirmed in fast phase. Plus with the mining of all bitcoin there will be the price inflation and miners should lived off on bitcoin transaction fees alone, which will cost us alot for sure in USD value because bitcoins price will surely still rise.

I agree with you. but I have a question that is a little disturbing to my mind, is mining bitcoin is still effective to get profit with the remaining 15% bitcoin?
because what I know from mining bitcoin is that each year the level of difficulty in mining bitcoin is increasing with the increasing number of bitcoins that have been mined. because of this I had thought that later there would be a new innovation or new technology that would make changes in mining bitcoin

[Afnan_faizah]

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?

Need more than 100 more years until all of bitcoin is mined. Mining cost is not small, energy consumption for mining bitcoin has now eeached more than 2.55 gigawatt. I think the number of it will continue to rise. Although the profit is smaller but it seems that it even makes them even more determined. Bitcoin as investment is very profitable. Maybe some people think that 100 satoshi is not very valuable but we don't know the price of bitcoin in the next 10 years.

[Fredomago]

More people are concentraring on investing in btc rather than mining it because with shortage or supply becoming less it is becoming difficult for miners to mine it and the resources used such as equipmemt and electricity prices are also increasing.But still miners will not leave mining due to the profit but it will become expensive and price of one bitcoin will also high.

Miners who understand things inside crypto/bitcoin will not leave the sphere  knowing that it isn't the actual bitcoin to mined is important but also those transactions that will be generated with fees. once bitcoin increased it's value the transaction fees will be considerable to fed the miners. So there's still a balance inside this business.
Only those small time miners will move away due to competitions with more knowledgeable and capable business owners that still believing that there's always gems around this industry that deliver fortune and success.

[Dabs]

I agree with you. but I have a question that is a little disturbing to my mind, is mining bitcoin is still effective to get profit with the remaining 15% bitcoin?

The article mentioned how transaction fees can remain profitable for miners even 20 years from now, after several block halvings down to below 1 BTC per block.

It will be another 12 years from today and then 99% of all bitcoin will have been mined, and the block reward is 0.78125 BTC.

2012   25   10500000   75.00%
2016   12.5   15750000   87.50%
2020   6.25   18375000   93.75%
2024   3.125   19687500   96.88%
2028   1.5625   20343750   98.44%
2032   0.78125   20671875   99.22%

The final 1% will then take another hundred years, you can probably ignore the supply at that point and just focus on how much adoption and demand will be and how that will affect price.

[Leonardo7]

I expect the price to take a good positive turn this December and steadily move up as we approach the next halving next year, people selling cheap without planning to buy back may be caught in the web when it suddenly spikes in price.

[ePesoInitiative]

It will be another 12 years from today and then 99% of all bitcoin will have been mined, and the block reward is 0.78125 BTC.

At today's prices,  0.78125 BTC is $6,328. Miners currently get $101,250 per 12.5 btc block reward. Let's assume miners need $100k rewards per block to stay profitable or afloat. So, 0.78125 btc could be $101,250 in the future or $129,600 per BTC and 16x from today.

[mintme.com]

fun fact: The best estimates currently available suggest that around 190,040 tonnes of gold has been mined throughout history, of which around two-thirds has been mined since 1950.

That means that while bitcoin production is slowing down, gold production is speeding up

[Yaunfitda]

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?

Depends, if there is still incentives in mining bitcoin then definitely miners are not going away. Remember as well that bitcoin mining is already a big time business and farms are expanding outside of China, and with that said I don't think the miners will just shift their mining gear towards other coins.

What will be the best alternatives for them? BCH? BSV? doesn't make sense at all.

[blckhawk]

As miners get close to the maximum volume of bitcoin, their reward gets smaller. But even though given that fact, we are still considered close to maximum, and demands would start to rise. The price would continue to rise as deflation would occur, which is I'm not really sure if it would be good or bad to the future of bitcoin. If it's value goes too high, then people will just hoard and bitcoin exchange would slow down. If no one wants to use it, then that could impose threat to bitcoin in the future.

[riso2015]

As miners get close to the maximum volume of bitcoin, their reward gets smaller. But even though given that fact, we are still considered close to maximum, and demands would start to rise. The price would continue to rise as deflation would occur, which is I'm not really sure if it would be good or bad to the future of bitcoin. If it's value goes too high, then people will just hoard and bitcoin exchange would slow down. If no one wants to use it, then that could impose threat to bitcoin in the future.

And that (mining maximum achieved) is predicted to occur in the year 2140, a very long period of time. Of course prices will go up, every time Halving happens then The price of Bitcoin will increase dramatically. So even though the results of mining will get smaller rewards given, it will also be very expensive according to the work we do.

[qwertyup23]

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.

The next problem would be the transaction fees whenever we use our bitcoins to transfer our funds or if we were to purchase products/services. As long as we keep on mining bitcoin (supply decreases), the price exponentially increases due to high demand. It is highly advisable that people should consider the long-term of investing in bitcoin for the next generation of their family as their retirement benefits if you want to maximize its price.

[jossiel]

More people are concentraring on investing in btc rather than mining it because with shortage or supply becoming less it is becoming difficult for miners to mine it and the resources used such as equipmemt and electricity prices are also increasing.But still miners will not leave mining due to the profit but it will become expensive and price of one bitcoin will also high.

That's already an acceptable upgrade for most dedicated miners. They've invested heavily to their equipment and farms and they do understand the difficulty increases over time and the required hardware is also upgrading.

It's true that as reward per block decreases, price in return will go up too. This is the most exciting part even you're just holding your bitcoins and waiting for that to come.

[DaveWave]

When the time comes that 99% of all bitcoin are farmed already the miners will expect a high bitcoin price or it won't be worth it anymore to mine. What will happen if only few bitcoin miners are left alone? So I understand now that bitcoin is in a race over time to become mainstream.