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

[Carlton Banks]

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.

this is just armchair speculation. In the real world, people do use both inflation and deflation to their advantage, but there are also many other different pressures on their decision making all the time.


If you have Bitcoin, but want a better lifestyle, big jumps in exchange value will always cause you to consider spending some on whatever you've been coveting.

If you keep Bitcoin for a lifetime, and have resisted all temptation to lifestyle upgrades before retiring, then there's a good chance you will change your attitude, as you are more aware than ever that you're dying


It seems to me that the whole "Bitcoin stops spending argument" is just a very negative way of saying that Bitcoin makes you choose your purchases super carefully. Oh no, Bitcoin will stop people spending their money on crappy products that stop working or break after 2 years, how terrible that's gonna be! People want to save BTC more than they want to spend it, what a stupid thing to do, huh?


Do you work for a pension company, or some low-cost household goods manufacturer? Sounds like it, because those businesses have alot to lose from everyone switching to buying quality products or investing in good assets for their old age

[flyingplows]

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.

But higher Bitcoin price would mean that payments would cost more and would stop people from actually paying in BTC. Or there has to be a lot of transactions in a block, are there plans to increase block size in original Bitcoin?

[Dabs]

But higher Bitcoin price would mean that payments would cost more and would stop people from actually paying in BTC. Or there has to be a lot of transactions in a block, are there plans to increase block size in original Bitcoin?

There are no short term plans to increase block size in original Bitcoin. There may be long term plans, but I haven't seen anything to indicate that work has started in this direction. Rather we see possible second layer solutions like Lightning Network, if you really insist on paying for stuff like coffee with Bitcoin.

Payments would not necessarily cost more as you can still send transactions with fees as low as 1 sat per byte. Right now would be about a quarter of a dollar if you want it confirmed fast, but if the merchant accepts the transaction and there are no double spends seen within about 10 seconds, they have a high degree of being included in a block as long as there are fees included.

Everyone else worried about the last bitcoin, the difference between 2032 and 2140 is going to be minimal in terms of mining, as it's the last 1 percent. Maybe another decade and we see price eventually find some sort of stabilization, so that's about 2040-ish. That's not too far away. Don't worry about 2140, most of us would be dead by then.

[posi]

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.

Miners will only depend on the transaction fee. As you presumed the price of bitcoin transaction will be high and so is the price of bitcoin in the market which is why this current market is a huge opportunity for accumulators. Therefore, most bitcoin holders and traders won't find it too hard to pay the transaction fee.
Meanwhile, the SegWit and Lightning maybe the best option then.

[CLS63]

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?

In according to some resources, Bitcoin will be completely mined by 2140. So, we can't say that miners will leave their job soon. But also, we don't exactly know that what will happen in 2140.

[agentx44]

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?

1 billion is a huge value to be mined still so we cannot really conclude anything right now, it would take century before all of the bitcoin gets mined. It can still be a good news for us about having 85% of bitcoin getting mined already because it signifies the rise of the value of the said currency again. People will not leave bitcoin just because most of it was already mined, there are still a lot to mine and I know that they all know it too so they would definitely stick still to gain more benefit.

[sapnu]

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 tried bitcoin last year I thought I can earn a lot of bitcoin but it did not go very well because I don't get any profit. All of bitcoins I am earning is just my payment for the bill of current used by the reason of making my computer open for 24 hours every day. I watched some videos on youtube and they said that I should have higher specifications of video card and it should not only one piece because the more video card the more bitcoin you can earn at the same time. Maybe if I have some source of current like a solar panel, I can do the mining but here in my country it is so hard to pay for that and the price of billing is higher.

[Dabs]

You're not supposed to mine bitcoins with a CPU or even a GPU these days. The time for CPU and GPU mining has long gone. You need the new ASIC machines to mine bitcoin.

[manok jepang]

In fact, many predict that miners still need at least decades to mine all of the existing Bitcoin. Moreover, the development business of Bitcoin is increasingly difficult. I don't know exactly when all Bitcoin can be mined, but when it reaches its closure, transaction costs still allow miners to mine and when it costs will be high.

[ReiMomo]

If that's true I think the price of bitcoin may double or triple it's value now since there's a lack of supply due to 85% of all bitcoin have now been mined but the value of bitcoin, for now, is really far from its value before 2 years ago and I don't think that only 15% of all bitcoin is now available to be mined. But I did not worry about how much percentage to be mined. The more miner that mine in every transaction will make Bitcoin faster transactions, it can bring benefits to Bitcoin itself if there are more miners to mine.

[Carlton Banks]

I don't think that only 15% of all bitcoin is now available to be mined.

can you count? actually, don't answer that

But I did not worry about how much percentage to be mined. The more miner that mine in every transaction will make Bitcoin faster transactions, it can bring benefits to Bitcoin itself if there are more miners to mine.

have you ever considered playing in the middle of a very busy highway? Or on a high-speed train track?

[Chris Barth]

Bitcoin mining is actually effective. It has a lot of impact on the price of bitcoin. I keep seeing different bitcoin mining sites with different pricing. Tho some of them are scam, the rest are real and the bitcoin they mine has effects on bitcoin price (tho I don't know if it's a positive or negative effect).

[Reosta_]

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 it is too early for people to leave mining Bitcoin. Don't be mistaken by 85%. There are many many years for all the Bitcoin to be mined completely. So, this can be discussed while getting close to the end.

[DatKing]

I think people may start to leave Bitcoin when we get close to the mining of the last Bitcoin. There are too many years until that time but I don't think people can still prefer to be miner then.

[Velkro]

85% of All Bitcoin Have Now Been Mined!!!
What do you think? are your thoughts the same as mine?

Problem is, or maybe it isn't, that this 15% of bitcoins remaining are worth a lot more than whole 85% in past.
So in theory its 15% only, but in reality, its 100% looking by price.
All is relative here, many bitcoins are lost also.

[Jating]

85% of All Bitcoin Have Now Been Mined!!!
What do you think? are your thoughts the same as mine?

Problem is, or maybe it isn't, that this 15% of bitcoins remaining are worth a lot more than whole 85% in past.
So in theory its 15% only, but in reality, its 100% looking by price.
All is relative here, many bitcoins are lost also.

I guess people really think that there are still lots of bitcoin to be mine or at least I see people that it will be more or less in 2140 that all bitcoin are going to mine.

But they don't understand that it we reach like 90%-95% of all bitcoins, it's like everything has been mined already, "Almost" is the keyword here, maybe by year 2032, almost all of them have been mine, that's why we should accumulate as many as we can as early as today.

[Oneandpure]

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?

Bitcoin have been mining with higher amount and supply of bitcoin will increase year by year, for the future maybe bitcoin supply will limited and make bitcoin price on the top, with bad issues and negative respond from many government make bitcoin slowly raise up to higher price, after bitcoin faced with halving time each four years maybe bitcoin price will grow up to higher again.

[rodel caling]

In other words bitcoin will become expensive 15 percent remaining to mine possible that bitcoin become too much expensive if the supply are bedome shortage to circulate un the market.
But of course in every situation there have an solution, can we use local bitcoin as alternative for the shortage of supply. Miners aren't stop mining to keep their bictoin as investment.

[Darooghe]

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?

It depends on bitcoin price. Mining becomes unprofitable when the cost of electricity becomes higher than the reward for mining. when that happened at $3,200, many miners shut down and hashrate drops. The only ones that continued were those that had external funding (such as big companies) or were mining to HODL.

However, I strongly believe that this situation won’t be sustainable, because the difficulty is adjusted based on the transactional volumes, so it will self-correct and it will be profitable. You must remember that even when the mining wasn’t profitable, there were still miners mining at a loss. Hence, fewer people will mine, the difficulty will drop, and that will make mining more profitable, and leading more people to mine. besides fewer coins become available for sale because of halving and All else being equal, then we move along the demand curve, and price goes up again.

[Getmon]

85% of All Bitcoin Have Now Been Mined!!!
What do you think? are your thoughts the same as mine?

Problem is, or maybe it isn't, that this 15% of bitcoins remaining are worth a lot more than whole 85% in past.
So in theory its 15% only, but in reality, its 100% looking by price.
All is relative here, many bitcoins are lost also.

The price is beyond anyone's determination. It is beyond anyone's manipulation to be honest. Everything could happen in the market. That 15% may end up more expensive than the 85% but it could also happen that the rest of the remaining 15% will not be as coveted as the earlier Bitcoins. Nobody can tell for now. We are saying things based on the past. The future is not ours.