93 Percent of all Bitcoin Has Been Mined

[Fivestar4everMVP]

 Yeah, you read that right, 93% of all existing Bitcoins have been mined already, we have just 7% remaining, and it is estimated that the last Bitcoin will be mined by the year 2140, that is approximately 117 years from this year 2023.

100 years makes 1 century right? yeah, so this means that the remaining 7% of bitcoin yet to be mined will take more than one century to mine all of them.

Now, with bitcoin becoming more popular and expensive as time progresses, Billions are gonna be competing to mine the last remaining bitcoin, if not for anything, to at least have it as a legacy that they were among those that mined the last bitcoins, I also want this as a legacy for myself but unfortunately, I probably won't be alive in the next 70 to 80 years from now, and so it is also for majority of us here right now.

Are you here and still unsure whether bitcoin is the right asset to invest in, well, just start accumulating bitcoin today before it's too late, if you feel you are too old and don't have any need for bitcoin, you sure need bitcoin for the generation coming through you, accumulate bitcoin for them, it's a legacy they will live to forever remember you for.

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[AprilioMP]

Are you here and still unsure whether bitcoin is the right asset to invest in, well, just start accumulating bitcoin today before it's too late, if you feel you are too old and don't have any need for bitcoin, you sure need bitcoin for the generation coming through you, accumulate bitcoin for them, it's a legacy they will live to forever remember you for.

Doubtful on Bitcoin, no. There is no doubt about Bitcoin as an investment asset even though I am still a baby in my experience about Bitcoin. But thanks to the openness of the information space that exists due to internet access, I don't doubt Bitcoin as an investment asset. Trust in Bitcoin is increasing due to the recorded history of what, why, how and for what Bitcoin was created.

I'm not sure how long I'll be able to breathe, but I plan to make Bitcoin a legacy that will be passed on to the next generation when I have time to start a family and have children.

So for now I have not thought about the purpose of collecting for my next generation. Now I'm thinking about how I can use Bitcoin even though I can't use Bitcoin as money to make payments.
Because I can't use it as money because there is a ban, one of the real benefits I can feel now is using it as a long-term investment asset by becoming a holder while enjoying the remaining 7% that has not been mined.
I Love Bitcoin and thanks Satoshi.

[DapanasFruit]

Yeah, you read that right, 93% of all existing Bitcoins have been mined already, we have just 7% remaining, and it is estimated that the last Bitcoin will be mined by the year 2140, that is approximately 117 years from this year 2023.

Since there will only be 21 million Bitcoin, 7% of that is around 1,470,000 which can be mined for the next 117 years...which is a lot of time and we will not anymore be alive by then. So I agree with you that accumulating BTC can be our legacy for the future generations. And I have no doubt that BTC will continue to be more valuable as ever most especially if soon ETF will be approved by SEC.

[Lucius]

Yeah, you read that right, 93% of all existing Bitcoins have been mined already, we have just 7% remaining, and it is estimated that the last Bitcoin will be mined by the year 2140, that is approximately 117 years from this year 2023.

This is information that might fascinate a beginner, not someone who has read dozens of similar topics over the years on this forum.

100 years makes 1 century right? yeah, so this means that the remaining 7% of bitcoin yet to be mined will take more than one century to mine all of them.

Fascinating observation, for those who did not know until now, 100 years is equal to one century

Now, with bitcoin becoming more popular and expensive as time progresses, Billions are gonna be competing to mine the last remaining bitcoin, if not for anything, to at least have it as a legacy that they were among those that mined the last bitcoins, I also want this as a legacy for myself but unfortunately, I probably won't be alive in the next 70 to 80 years from now, and so it is also for majority of us here right now.

Billions you say? You want to say that in 100+ years billions of people will be mining Bitcoin just to go down in history as the ones who grabbed the last satoshi? Do you know that of the 7% you mention, even 6% will be mined in less than 10 years, and that 1% will actually remain for the next 100 years as a very insignificant part, considering that it is only 210 000 BTC.

[Helena Yu]

Despite Bitcoin circulation, mining difficulty etc are keep rising, but it's not entirely make Bitcoin price increase too if the market is small, Bitcoin is still not achieve it's mass adoption due to not regulated. The biggest task is making an Average Joe feel safe to invest in Bitcoin or the government is legally regulated Bitcoin.

you sure need bitcoin for the generation coming through you, accumulate bitcoin for them, it's a legacy they will live to forever remember you for.

It's up to everyone choice whether they want to pass their coins to their next generation or not, after all you must focus with your life "right now" instead of thinking about heritage.

[Iamcrypticguy]

Yeah, you read that right, 93% of all existing Bitcoins have been mined already, we have just 7% remaining, and it is estimated that the last Bitcoin will be mined by the year 2140, that is approximately 117 years from this year 2023.

100 years makes 1 century right? yeah, so this means that the remaining 7% of bitcoin yet to be mined will take more than one century to mine all of them.

Now, with bitcoin becoming more popular and expensive as time progresses, Billions are gonna be competing to mine the last remaining bitcoin, if not for anything, to at least have it as a legacy that they were among those that mined the last bitcoins, I also want this as a legacy for myself but unfortunately, I probably won't be alive in the next 70 to 80 years from now, and so it is also for majority of us here right now.

Are you here and still unsure whether bitcoin is the right asset to invest in, well, just start accumulating bitcoin today before it's too late, if you feel you are too old and don't have any need for bitcoin, you sure need bitcoin for the generation coming through you, accumulate bitcoin for them, it's a legacy they will live to forever remember you for.

This is good for BTC or bad?

[lombok]

Despite Bitcoin circulation, mining difficulty etc are keep rising, but it's not entirely make Bitcoin price increase too if the market is small, Bitcoin is still not achieve it's mass adoption due to not regulated. The biggest task is making an Average Joe feel safe to invest in Bitcoin or the government is legally regulated Bitcoin.

There's still a long way to go for Bitcoin. Yes, compared to the previous few years, Bitcoin market capitalization has increased quite rapidly, if you add legalization, ETFs and so on in the coming year, there will definitely also be an increase. Adoption and interest in Bitcoin will continue to grow, especially if Bitcoin continues to have the title of asset storage and often appears and is discussed in economic broadcasts. I am sure that many investors and even new users will enter Bitcoin.

you sure need bitcoin for the generation coming through you, accumulate bitcoin for them, it's a legacy they will live to forever remember you for.

It's up to everyone choice whether they want to pass their coins to their next generation or not, after all you must focus with your life "right now" instead of thinking about heritage.

Yes, regarding inheritance, it can be arranged within the family. Each succeeding generation definitely has desires and interests in each field. And we cannot force their will to match our wishes, if they remember and want to access it. If you forget it or get it tucked away, it will become a useless inheritance. I think we can know what children need most, and what is best for our heirs. I think Knowledge is the best inheritance for children, and Bitcoin might be a bonus.

[Fivestar4everMVP]

*Snip

This is good for BTC or bad?

What do you think? Of course it's good for bitcoin generally.
Think of this, when all the bitcoins are mined, miners will no longer earn Bitcoin through mining but will only earn from transaction fees, bitcoin will become more attractive to invest in, most especially to big investors, as no new bitcoins are being minted any more, and the circulating bitcoins will be capped at around 18 or 19 million bitcoins if we minus the bitcoins that are forever lost.

And since there will be no more halvings, the price of bitcoin will become relatively more stable, making it more attractive for people to accept it as payment for their goods and services.

This are the benefits and many more I didn't mention.

[sunsilk]

This makes Bitcoin scarcer and people don't realize that until they see the price goes high to a tremendous that we're never expecting. Or should I say that many are expecting but it's just so unbelievable because most of the speculations or predictions are just too high to imagine.

This is good for BTC or bad?

It's good in general if you're a long term guy for Bitcoin or very optimistic on it. But if you're still thinking that you're late then it seems that the bad thought will come to you just as the others thinking that you guys are already late.

More than a century to mine all the Bitcoin, I can no longer wait for that and I know that I might be dead when it comes. But I know that good times will come for the most of us who knows how to be patient.

[Get Happy Code]

"93 Percent of all Bitcoin Has Been Mined"
At some point, probably the next bull market (when BTC is over $100,000), mainstream, wealthy people will go nuts over the idea of owning a "single whole Bitcoin" before it is too late. At that point the fun and near insanity will rapidly intensify.

[Dave1]

Yeah, you read that right, 93% of all existing Bitcoins have been mined already, we have just 7% remaining, and it is estimated that the last Bitcoin will be mined by the year 2140, that is approximately 117 years from this year 2023.

100 years makes 1 century right? yeah, so this means that the remaining 7% of bitcoin yet to be mined will take more than one century to mine all of them.

Now, with bitcoin becoming more popular and expensive as time progresses, Billions are gonna be competing to mine the last remaining bitcoin, if not for anything, to at least have it as a legacy that they were among those that mined the last bitcoins, I also want this as a legacy for myself but unfortunately, I probably won't be alive in the next 70 to 80 years from now, and so it is also for majority of us here right now.

Are you here and still unsure whether bitcoin is the right asset to invest in, well, just start accumulating bitcoin today before it's too late, if you feel you are too old and don't have any need for bitcoin, you sure need bitcoin for the generation coming through you, accumulate bitcoin for them, it's a legacy they will live to forever remember you for.

I don't think that we can see it in our lifetime.

But I guess in the next couple of halvings, we might see that almost all bitcoin has been mine at 99%. And the rest of that 1% will be mined till that 2140.

So there is still some time for us before we can reach that 99% of bitcoin being mine and if that happens, then obviously it will be scarce and it will really push the price beyond our imagination.

[Die_empty]

And since there will be no more halvings, the price of bitcoin will become relatively more stable, making it more attractive for people to accept it as payment for their goods and services.

This are the benefits and many more I didn't mention.

You are actually correct. If the price of bitcoin becomes relatively stable, it will attract more people and businesses to the sector. At this point, it will be widely used as legal tender just as it was designed for. Businesses would have benefitted from using bitcoin for local and international transactions but I have heard some business owners claim that they a forced to convert their funds to fiat because of the volatility of bitcoin price. Since we cannot predict when it will happen for now bitcoin is better as an investment. 

Despite Bitcoin circulation, mining difficulty etc are keep rising, but it's not entirely make Bitcoin price increase too if the market is small, Bitcoin is still not achieve it's mass adoption due to not regulated. The biggest task is making an Average Joe feel safe to invest in Bitcoin or the government is legally regulated Bitcoin.

Bitcoin awareness and adoption will affect the price of bitcoin positively but government regulations will make the currency more centralised. Government involvement might increase public trust and confidence which will increase the price of bitcoin but many people will lose privacy.   

[AHOYBRAUSE]

Yeah, you read that right, 93% of all existing Bitcoins have been mined already, we have just 7% remaining, and it is estimated that the last Bitcoin will be mined by the year 2140, that is approximately 117 years from this year 2023.

100 years makes 1 century right? yeah, so this means that the remaining 7% of bitcoin yet to be mined will take more than one century to mine all of them.

Now, with bitcoin becoming more popular and expensive as time progresses, Billions are gonna be competing to mine the last remaining bitcoin, if not for anything, to at least have it as a legacy that they were among those that mined the last bitcoins, I also want this as a legacy for myself but unfortunately, I probably won't be alive in the next 70 to 80 years from now, and so it is also for majority of us here right now.

Are you here and still unsure whether bitcoin is the right asset to invest in, well, just start accumulating bitcoin today before it's too late, if you feel you are too old and don't have any need for bitcoin, you sure need bitcoin for the generation coming through you, accumulate bitcoin for them, it's a legacy they will live to forever remember you for.

Oh wow, you never learn out.
I didn't imagine it would take that long to mine the remaining coins! I mean, it took so few years to mine 93% and so many to mine the remaining 7, that's crazy.
Since I never educated myself about that process it really surprises me. I thought it would be fully mined in the next 10 years maybe, haha.
With so fe coins to be mined, it mining actually worth it anymore? Of course if the price would go up SIGNIFICANTLY it would but at the current price I doubt it.

[Hamza2424]

Are you here and still unsure whether bitcoin is the right asset to invest in, well, just start accumulating bitcoin today before it's too late, if you feel you are too old and don't have any need for bitcoin, you sure need bitcoin for the generation coming through you, accumulate bitcoin for them, it's a legacy they will live to forever remember you for.

Bitcoin's adoption rate vs Bitcoin's available supply in the coming days is gonna be a Hot topic, insufficient supply will cause massive jumps in the market valuation compared to any fiat currency when it comes to accumulation. The perspective of saving Bitcoin for the next generation is neither old & new it is all up to the investor who enters the market to explore after learning and getting familiar with the market and future financial crisis he can easily pick up this narrative, except for his short-term temperament and gains.

I would love to see the legacy of Bitcoin so far until the end of my life and I'm pretty sure sooner I will be able to consider myself a storyteller to my children than how I entered and explored this legend (Haha it on the Bitcoin evolution to a global payment and  & my marriage journey lets hope both are gonna be smooth and on time).

[stompix]

Now, with bitcoin becoming more popular and expensive as time progresses, Billions are gonna be competing to mine the last remaining bitcoin, if not for anything, to at least have it as a legacy that they were among those that mined the last bitcoins,

Yeah right, everyone is going to throw money away on electricity just to not be mentioned anywhere!
As for the billions competing, how many are competing right now, for sure not even millions, as in orde to actively compete you have to throw a few grand in the mix at least and deal with the noise and heat and power consumption, for what, a place on internet history that is tossed away 5 minutes later?

Look what happened to the early miners, where is their hall of fame? As if 99% of this forum could name somebody else other than Satoshi!

Fascinating observation, for those who did not know until now, 100 years is equal to one century

Joking and not so much joking, I don't doubt there are some who would take a few moments to think how long a century is!
And after all you need to add some of this platitude to make it look like a topic, right?
Can't wait for 94%, 95%, 95,1%, 95,2% and so on

This makes Bitcoin scarcer and people don't realize that until they see the price goes high to a tremendous that we're never expecting.

No it doesn't!
New coins are mined every day, and there are more coins available each day, the complete opposite of scarcer!

[Don Pedro Dinero]

100 years makes 1 century right? yeah, so this means that the remaining 7% of bitcoin yet to be mined will take more than one century to mine all of them.

Fascinating observation, for those who did not know until now, 100 years is equal to one century

I was also fascinated by it. 

No it doesn't!
New coins are mined every day, and there are more coins available each day, the complete opposite of scarcer!

Well, that is relative, because to consider the number of bitcoins available we would have to know who is willing to sell the ones they have, as well as exactly how many have been lost. I don't think there is either one or the other: there is less and less left before the total limit is reached, but we could consider that there are more available because we assume that most of those that are mined are available for sale and purchase.

[JunaidAzizi]

Yeah, you read that right, 93% of all existing Bitcoins have been mined already, we have just 7% remaining, and it is estimated that the last Bitcoin will be mined by the year 2140, that is approximately 117 years from this year 2023.

Well, you are right in that about 19 million of Bitcoin has been mined, and only 2 million of Bitcoin which makes 7% of the remaining bitcoin is left. We all know that the whole count of Bitcoin is 21millions and 19 million are mined you said that the remaining 7% of Bitcoin takes approximately 117 years which is 1 century and 17 years.

But I am confused a little bit here.  Bitcoin was invented in 2009 and tested and started working fully in 2010. Now it's 2023 and you told me that 93% of Bitcoin is mined in just 13 or 14 years, if the larger percentage takes that time how does the 7% remaining Bitcoin require 117 years?

[retreat]

100 years is not a short time, certainly within this time period the development of the bitcoin ecosystem will be bigger and more massive than it is now. Even though no one knows for sure what the future will be like for Bitcoin, I am sure that it will continue to develop and there will be more and more adopters.
Even though I won't be alive in the next 100 years, at least I will leave a legacy to my children and grandchildren that there is someone in their family who invested in bitcoin and I hope that they can continue this.

[pawanjain]

Yeah, you read that right, 93% of all existing Bitcoins have been mined already, we have just 7% remaining, and it is estimated that the last Bitcoin will be mined by the year 2140, that is approximately 117 years from this year 2023.

100 years makes 1 century right? yeah, so this means that the remaining 7% of bitcoin yet to be mined will take more than one century to mine all of them.

Now, with bitcoin becoming more popular and expensive as time progresses, Billions are gonna be competing to mine the last remaining bitcoin, if not for anything, to at least have it as a legacy that they were among those that mined the last bitcoins, I also want this as a legacy for myself but unfortunately, I probably won't be alive in the next 70 to 80 years from now, and so it is also for majority of us here right now.

Are you here and still unsure whether bitcoin is the right asset to invest in, well, just start accumulating bitcoin today before it's too late, if you feel you are too old and don't have any need for bitcoin, you sure need bitcoin for the generation coming through you, accumulate bitcoin for them, it's a legacy they will live to forever remember you for.

And so we have discussed this n number of times already. Yes, bitcoin is legacy and accumulate as much as possible while you can.
But the important thing is, take the profits when you are in need, have a backup plan for inheritance and enjoy freedom because thats what bitcoin is for.
Don't just keep accumulating without any backup plan so that your bitcoins become inactive after you're dead.

[stompix]

No it doesn't!
New coins are mined every day, and there are more coins available each day, the complete opposite of scarcer!

Well, that is relative, because to consider the number of bitcoins available we would have to know who is willing to sell the ones they have, as well as exactly how many have been lost. I don't think there is either one or the other: there is less and less left before the total limit is reached, but we could consider that there are more available because we assume that most of those that are mined are available for sale and purchase.

Not relative at all!
Every single day we have 900 extra coins getting released into the wild, this is simply increasing the available supply, standard definition!

Furthermore, and this is the interesting thing, if you go above the scarce assumption, then what do you know, fiat is also getting scarcer, no joke! Because there is a limited amount that is being printed, there are hundreds and thousands of bills that get lots, get destroyed end up in safe cases, and so on! If all the government in the US would come and say here is the deal, we're going to print a limit of 1000 quadrillion dollars and after that, there won't be anymore being printed, would that make the $ scarce because it has an upper limit by the amount of plastic needed for bills not existing on this planet? Of course not!

Well, you are right in that about 19 million of Bitcoin has been mined, and only 2 million of Bitcoin which makes 7% of the remaining bitcoin is left. We all know that the whole count of Bitcoin is 21millions and 19 million are mined you said that the remaining 7% of Bitcoin takes approximately 117 years which is 1 century and 17 years.

Lucius, any feedback on this gem? 

As I read that a single Bitcoin is mined in about one hour so how does 93% take such a short time to mine?

Wow, 150 merits, one year on this forum, and he knows one Bitcoin is mined per hour!

[Essential10]

Yeah, you read that right, 93% of all existing Bitcoins have been mined already, we have just 7% remaining, and it is estimated that the last Bitcoin will be mined by the year 2140, that is approximately 117 years from this year 2023.

100 years makes 1 century right? yeah, so this means that the remaining 7% of bitcoin yet to be mined will take more than one century to mine all of them.

Now, with bitcoin becoming more popular and expensive as time progresses, Billions are gonna be competing to mine the last remaining bitcoin, if not for anything, to at least have it as a legacy that they were among those that mined the last bitcoins, I also want this as a legacy for myself but unfortunately, I probably won't be alive in the next 70 to 80 years from now, and so it is also for majority of us here right now.

Are you here and still unsure whether bitcoin is the right asset to invest in, well, just start accumulating bitcoin today before it's too late, if you feel you are too old and don't have any need for bitcoin, you sure need bitcoin for the generation coming through you, accumulate bitcoin for them, it's a legacy they will live to forever remember you for.

In this situation you can plan with confidence. You can invest Bitcoin and make it as an inheritance. However, before investing it is necessary to do good research and look at your own financial situation and recommendations. You can create a plan to dictate the rights and usage of the hard copy. Since Bitcoin is not yet fully regulated, it can be considered as a natural material for investment. If this situation holds business importance, investing with Bitcoin or any other cryptocurrency may require proper knowledge and caution. Our lives are exceptional and each person's preferences and goals may be different. By paying attention to your life now, you can enrich new experiences and learn new things. You can feel satisfied and happy if you follow your own preferences and goals.

[panganib999]

For sure there will be a craze for that last bitcoin/satoshi. People already paid crazy money for ordinals and they weren't even that good, at least for bitcoin, what more could it be if you're literally given the chance to hold a piece of cryptocurrency history?

Of course at some point this hype will die down but as with all relics and memorabilias there's a good chance that this might even get serialized physically, recognized by whoever tracks stuff like these and all that shit.

But yeah, the last few years for the last few bitcoins will definitely be an eventful moment for the cryptocurrency world. I may not live long enough to witness that, for god's sake it will literally take 2140 before all bitcoins are mined (at least ideally), but at the very least, if things go well we're holding on to the premise of a bright future for bitcoin.

[Blitzboy]

It is truly amazing to know that 93% of all Bitcoins have already been mined, leaving us to deal with the fact that there arent many Bitcoins in circulation. Without a doubt, the 7% that left puts us on the verge of a major shift in the way the economy works. Your prediction for 2140 isnt just proof of the slow flow of supply; its also a sign that the gavel will soon decide how rare and how much demand there is for this digital gold. The race to mine the last few Bitcoins, on the other hand, isnt just about leaving money behind. It has to do with claiming power in an economy whose core ideals are always changing.

A legacy is a goal, but it should also show that you have insight and good strategic sense. Its not a matter of how old or how soon you think about Bitcoin as an asset. Its about how big of a change it will make in our financial system. If you want to know if you need Bitcoin, you should ask yourself if you can afford to ignore the huge changes it offers. Not only is it smart to start collecting Bitcoin now, its also necessary. Making plans for the future.

[adaseb]

Yes there is very little supply out there. I read that 85% of all bitcoins haven’t moved In the last 3 months. ExchAnge reserves are near lows and that is why when a strong bitcoin rally starts why we have explosive moves. Because there just isn’t any bitcoins to sell once the weak hands sell.

I remeber back in 2017 when Bitcoin atms were sold out of bitcoins, you couldn’t buy any only sell yours. Basically they just couldn’t allocate any in that crazy FOMO time.

[Helena Yu]

Bitcoin awareness and adoption will affect the price of bitcoin positively but government regulations will make the currency more centralised. Government involvement might increase public trust and confidence which will increase the price of bitcoin but many people will lose privacy.   

The terms of Bitcoin become more centralized isn't really a problem in terms of "price" because they only allow Bitcoin trade in centralized exchange. But even they regulate Bitcoin, they still can't control the protocol and can't own every mined Bitcoins since not everyone agree to use CEX.

Since not everyone will use CEX, it means those people will not lose their privacy too since they can trade through P2P or DEX.

As I read that a single Bitcoin is mined in about one hour so how does 93% take such a short time to mine?

Wow, 150 merits, one year on this forum, and he knows one Bitcoin is mined per hour!

This is why de-merit should exist.

[GreatArkansas]

(...)
I remeber back in 2017 when Bitcoin atms were sold out of bitcoins, you couldn’t buy any only sell yours. Basically they just couldn’t allocate any in that crazy FOMO time.

Same thoughts here. Bitcoin was created to work like this, for a long time, you will realize how Bitcoin is because of how the supply it limits to generate, like being mined over time.
This is also one of many reasons why I am bullish on Bitcoin unlike other assets.

[tabas]

I'm actually thinking what will happen when the real bull run comes and with the shortage of the reserves from exchanges is a real thing and a problem for them wherein most holders don't want to spend their Bitcoins in hope of a better gains. Since we've got most of the supplies already and the remaining ones will take time, a century before they're all mined and I don't care about that anymore because I may not see the light by that time. Going back to the effect that this fact of having 93% of entire supply of Bitcoin has been mined, it could result for another delay or halting of withdrawals by the exchanges when we're in the bull run. AFAIK, I remember that happen for some exchange but they've hid that it was actually what they've done and just made it look like that there's an internal issue that has happened.

[Lucius]

Fascinating observation, for those who did not know until now, 100 years is equal to one century

Joking and not so much joking, I don't doubt there are some who would take a few moments to think how long a century is!
And after all you need to add some of this platitude to make it look like a topic, right?
Can't wait for 94%, 95%, 95,1%, 95,2% and so on.

It should be understood that there are people who understand the English language very poorly, but honestly OP and others like him who have been on the forum for years never cease to amaze me.

Well, you are right in that about 19 million of Bitcoin has been mined, and only 2 million of Bitcoin which makes 7% of the remaining bitcoin is left. We all know that the whole count of Bitcoin is 21millions and 19 million are mined you said that the remaining 7% of Bitcoin takes approximately 117 years which is 1 century and 17 years.

Lucius, any feedback on this gem?  

As I read that a single Bitcoin is mined in about one hour so how does 93% take such a short time to mine?

Wow, 150 merits, one year on this forum, and he knows one Bitcoin is mined per hour!

I wouldn't be surprised if such a conclusion comes to a bounty hunter, but some members should start learning some basics if they don't want others to laugh at them.

[tranthidung]

Yeah, you read that right, 93% of all existing Bitcoins have been mined already, we have just 7% remaining, and it is estimated that the last Bitcoin will be mined by the year 2140, that is approximately 117 years from this year 2023.

I agree with Lucius. Newbies can search and find some very basic but important information about Bitcoin supply and how it will be created with time. If they read those resources, they will no longer surprise by how many bitcoin in total supply will be left for mining.
Controlled supply
Bitcoin equivalent network time
How is the 21 million Bitcoin cap defined and enforced?
This chart is not too hard to understand.

100 years makes 1 century right? yeah, so this means that the remaining 7% of bitcoin yet to be mined will take more than one century to mine all of them.

I can not (mostly) live 100 more years so I don't care about what will happen next 100 years. I pay my attention on what will happen next 20, 30 or 40 years.

[sunsilk]

This makes Bitcoin scarcer and people don't realize that until they see the price goes high to a tremendous that we're never expecting.

No it doesn't!
New coins are mined every day, and there are more coins available each day, the complete opposite of scarcer!

Yes, there are new coins mined every day but considering that the actual supply don't move and stuck with 21 million supply. This makes it scarcer and the longer the time passes by.

Many don't seem to sell the Bitcoins that they're holding.

And lesser supply in the economy while it's known that many of us are holding even I'm just part of the shrimp economy makes the demand higher.

[CarnagexD]

As much as I believe that bitcoin's going to be valuable in the future, I am worried that the profit that I will get out of it will not be worth enough to help me against the inflation and that the bitcoin profit's probably going to only be a breakeven in my country's inflation, hopefully that's not going to be the real case for me and that when I finally get to sell my bitcoins that I will get some plot twist in my financial life if not my whole life. Regarding the percentage of bitcoins that's not yet mined, that's actually an unexpected number for me because I know that it's 2140 before the last bitcoin's going to be mined but I dun know that the percentage is that low, I guess I'm still that lucky that I was able to buy and accumulate bitcoin at this point with the possibility that in the future, this price might not be seen or reached again because it's so below the price floor of the future price floor of bitcoin.

[TheUltraElite]

This is good for BTC or bad?

Its the process of how bitcoin is mined and its timeline in the future. Nothing good or bad.

Long term holding for bitcoin, you could say would not have a detrimental effect on the value at the time of investment. However by the time all bitcoins are mined, most of us at this point would have already passed away. So the OP emphasized on the idea of accumulating bitcoin not just for ourselves by our next of kin.

Better to enjoy your time here and continue to gather bitcoins because nobody know what next pandemic is awaiting us.

[stompix]

Yes, there are new coins mined every day but considering that the actual supply don't move and stuck with 21 million supply. This makes it scarcer and the longer the time passes by.

Again that is not scarcer!
It would be scarcer if the whole 21 would had been mined and 900 would have been destroyed each day, right now it's the opposite of scarcer.

Think for a moment, what happened in the first year? There were only 10% mined at one moment and the supply was fixed just as now at 21 million, did Bitcoin become scarcer from then to now? Because at one point there were only 50 then 100 and now we have 19 million!!!!!
The only thing that is going down is the percentage at which the supply increases, but it's still positive!

I know people love to make it sound like the supply is going down, like there will be more demand and less supply but it's NOT the case, let's not twist 2000 years old definitions because of personal feelings!

Wow, 150 merits, one year on this forum, and he knows one Bitcoin is mined per hour!

This is why de-merit should exist.

There is a simpler solution, kick shitposting out of campaigns!
But funny enough, speaking again of economics, we have enough demand for them that the supply keeps going up!

As much as I believe that bitcoin's going to be valuable in the future, I am worried that the profit that I will get out of it will not be worth enough to help me against the inflation and that the bitcoin profit's probably going to only be a breakeven in my country's inflation, hopefully that's not going to be the real case for me and that when I finally get to sell my bitcoins that I will get some plot twist in my financial life if not my whole life.

Out of pure curiosity, what's your country's inflation but expressed in $?
I find it hard to believe a jump to $60k won't cover that!

[philipma1957]

Yeah, you read that right, 93% of all existing Bitcoins have been mined already, we have just 7% remaining, and it is estimated that the last Bitcoin will be mined by the year 2140, that is approximately 117 years from this year 2023.

100 years makes 1 century right? yeah, so this means that the remaining 7% of bitcoin yet to be mined will take more than one century to mine all of them.

Now, with bitcoin becoming more popular and expensive as time progresses, Billions are gonna be competing to mine the last remaining bitcoin, if not for anything, to at least have it as a legacy that they were among those that mined the last bitcoins, I also want this as a legacy for myself but unfortunately, I probably won't be alive in the next 70 to 80 years from now, and so it is also for majority of us here right now.

Are you here and still unsure whether bitcoin is the right asset to invest in, well, just start accumulating bitcoin today before it's too late, if you feel you are too old and don't have any need for bitcoin, you sure need bitcoin for the generation coming through you, accumulate bitcoin for them, it's a legacy they will live to forever remember you for.

and by 2052 miners will leave btc to mine ltc and doge.

why is that simple the reward to fee ratio for btc is changing a lot.

50 to 0.001
25 to 0.01
12.5 to 0.02
 6.25 to 0.03
 3.125 to 0.06
 1.5625 to ? in 2028 only 4 years off
  0.78125 to ? in 2032 only 8 years off
  0.390625 to ? in 2036 only 12 years away

we have yet to solve this issue. Maybe we will maybe we wont .


please understand i am estimating the fee number.

but

[Fivestar4everMVP]

Now, with bitcoin becoming more popular and expensive as time progresses, Billions are gonna be competing to mine the last remaining bitcoin, if not for anything, to at least have it as a legacy that they were among those that mined the last bitcoins,

Yeah right, everyone is going to throw money away on electricity just to not be mentioned anywhere!
As for the billions competing, how many are competing right now, for sure not even millions, as in orde to actively compete you have to throw a few grand in the mix at least and deal with the noise and heat and power consumption, for what, a place on internet history that is tossed away 5 minutes later?

Look what happened to the early miners, where is their hall of fame? As if 99% of this forum could name somebody else other than Satoshi!

Haha, can not dispute this fact actually, but let's face this fact as well, the average man is very crazy, and can do really crazy things, all for what? All for nothing.

The only barriers or limitations most people have is money, when they don't have the money, then they are as cool as iced water.

And let me also point out that maybe I didn't phrase what I actually meant correctly, which I apologize for...
When I said billions competing, what I actually meant was that, billions are gonna be competing in both ways, that is, those who have the money will sure be squandering some of that money to gain the experience of what mining bitcoin feels like, and while who also have the money, but probably don't have the time to mine, may be spending millions to hold a good number of bitcoins.

It's all speculation born out of wild imagination though, atleast, a lover and investor in bitcoin can not do without sometimes imagining how big bitcoin can become In the future.

[bluebit25]

(...)Are you here and still unsure whether bitcoin is the right asset to invest in, well, just start accumulating bitcoin today before it's too late, if you feel you are too old and don't have any need for bitcoin, you sure need bitcoin for the generation coming through you, accumulate bitcoin for them, it's a legacy they will live to forever remember you for.

I wish the previous generation would also think about leaving more wealth and property for our children and grandchildren, but there is no need to do that, money without proper education will only make our children grow older. Instead, let's leave a message to our children and grandchildren that no matter how society changes, if bitcoin is still appearing, and they don't know about it, it is a lack of civilization.

Yep, in the past I have thrown away opportunities to become a millionaire if I kept those bitcoins, but clearly that is not a regret here because I am increasingly aware of the accumulation and use of bitcoin. There are different barriers for someone to initially get into bitcoin/crypto but over time, what we are seeing is widespread adoption.

[tjtonmoy]

With powerful computer and processing power and the quantum computer that has been a topic for gossip is going to make Bitcoin mining faster. I don't think the 7% of Bitcoin mining will take a hundred years. It could be over in 10 to 20 years. The reward is going to become half after certain numbers of block has been mined. And I don't think it will take 4 years like it is taking right now. Maybe we can witness all Bitcoin get mined.

We cannot predict the future but we can expect that in the future that will be much more powerful component such as quantum computer getting involved into Bitcoin mining. The more power you give the faster you can mine. So when the power is not in the question, I don't think we will have to wait that long.

[The Cryptovator]

The time of mining the last bitcoin will be exciting for the Bitcoin community. I am sure no one will exist from the forum where we are active now. New people will join, and they will enjoy the moment. I am really missing the event. However, we don't know if Bitcoin will exist until then or if it will destroy everything in a third world war. Or there may be something new and interesting with advanced technologies. But from my current position, I can say that Bitcoin investment will be the right choice for our next generation. Though we aren't realising it now, like 10 years ago, no one realised Bitcoin would reach that position. Actually, these are historical and technical statements, not emotional ones.

[stompix]

Haha, can not dispute this fact actually, but let's face this fact as well, the average man is very crazy, and can do really crazy things, all for what? All for nothing.

For starters, the craziness will stop the moment you try to turn on a 5360W machine running at 380V in your average home.

The only barriers or limitations most people have is money, when they don't have the money, then they are as cool as iced water.

 11,725 $/Unit is enough of a barrier?

And let me also point out that maybe I didn't phrase what I actually meant correctly, which I apologize for...
When I said billions competing, what I actually meant was that, billions are gonna be competing in both ways, that is, those who have the money will sure be squandering some of that money to gain the experience of what mining bitcoin feels like,

No need to spend thousands to see how it feels, you can go do your average car wash and stand there in the noise for a few hours, then to your street bakery to sweat in 60C and back home and watch how your computer progresses with folt@home cause there is really no difference. And you can do all this for $5 instead of 10k. Mining is not something that suddenly will become cool or anything else, it's driven by the pure economy, you either make money or you don't, that's why I dropped most of my miners and kept just a pair because it doesn't make sense, I could simply buy coins instead of wasting money on electricity with zero returns.

You see billions flooding California to get the last gold nugget that might be hidden somewhere in some riverbed?  

With powerful computer and processing power and the quantum computer that has been a topic for gossip is going to make Bitcoin mining faster. I don't think the 7% of Bitcoin mining will take a hundred years. It could be over in 10 to 20 years. The reward is going to become half after certain numbers of block has been mined. And I don't think it will take 4 years like it is taking right now. Maybe we can witness all Bitcoin get mined.

You do know we have a thing called difficulty adjustment right?
So even if by tomorrow you would find a machine that mises coins one quadrillion times faster all that will happen is it won't be 100 years, it will be 99 years and 50 weeks.

[taufik123]

I wish the previous generation would also think about leaving more wealth and property for our children and grandchildren, but there is no need to do that, money without proper education will only make our children grow older. Instead, let's leave a message to our children and grandchildren that no matter how society changes, if bitcoin is still appearing, and they don't know about it, it is a lack of civilization.

Growing old and useless.
All children today should get a proper education, especially on learning how the economy works, how Bitcoin is used, and how it can make money.
Bitcoin is here to stay and it won't be mined until 2140 and it's still 117 years away.
That will be the super modern generation and Bitcoin will be the best digital currency in the future.

Yep, in the past I have thrown away opportunities to become a millionaire if I kept those bitcoins, but clearly that is not a regret here because I am increasingly aware of the accumulation and use of bitcoin. There are different barriers for someone to initially get into bitcoin/crypto but over time, what we are seeing is widespread adoption.

If you've just dumped Bitcoin at a low price in the past, that's a given.
Bitcoin didn't have a proper place when it first appeared.
I even had enough Bitcoin to hold, but ended up selling at what I thought was a high price, but looking at it now it could be 1000x the profit.

The obstacles that keep beginners out of Bitcoin are price fluctuations and unreliable psychology.
Price fluctuations will affect one's psychology.

[wallet4bitcoin]

Don't get it twisted, what is left to mine in the Bitcoin network, because of the Bitcoin halving, will take another 100+ years as the halving continues, precisely in the year 2140.

People are still coming into the technology and the mining business is still lucrative enough for new players but considering the percentage that has been mined, isn't a scare to keep people away from the business. We are still in the early days of its adoption.

[YUriy1991]

Don't get it twisted, what is left to mine in the Bitcoin network, because of the Bitcoin halving, will take another 100+ years as the halving continues, precisely in the year 2140.

People are still coming into the technology and the mining business is still lucrative enough for new players but considering the percentage that has been mined, isn't a scare to keep people away from the business. We are still in the early days of its adoption.

You are right, it is still in the early stages of implementation and currently everything is still being worked on. The bitcoin code regulates this economy by reducing the number of bitcoins released as a reward over time and to get bitcoins one does not have to go through the mining process especially when looking at the strong growth in Bitcoin prices, there are many investors who think that traditional currencies could be ready to experience disturbance.

[Lucius]

With powerful computer and processing power and the quantum computer that has been a topic for gossip is going to make Bitcoin mining faster. I don't think the 7% of Bitcoin mining will take a hundred years. It could be over in 10 to 20 years. The reward is going to become half after certain numbers of block has been mined. And I don't think it will take 4 years like it is taking right now. Maybe we can witness all Bitcoin get mined.

We cannot predict the future but we can expect that in the future that will be much more powerful component such as quantum computer getting involved into Bitcoin mining. The more power you give the faster you can mine. So when the power is not in the question, I don't think we will have to wait that long.

I really don't know who is filling your heads with such nonsense that you think that some new technologies will somehow manage to "cheat" what is predetermined, so we will jump over all "obstacles" and simply mine all Bitcoins at least 100 years before we should.

There is a simpler solution, kick shitposting out of campaigns!
But funny enough, speaking again of economics, we have enough demand for them that the supply keeps going up!

If only it were that simple, but considering the lack of "manpower" on the forum, members like this get a chance, and I'm sure they will be paid for their posts, no matter how pointless they are.

[taufik123]

With powerful computer and processing power and the quantum computer that has been a topic for gossip is going to make Bitcoin mining faster. I don't think the 7% of Bitcoin mining will take a hundred years. It could be over in 10 to 20 years. The reward is going to become half after certain numbers of block has been mined. And I don't think it will take 4 years like it is taking right now. Maybe we can witness all Bitcoin get mined.

We cannot predict the future but we can expect that in the future that will be much more powerful component such as quantum computer getting involved into Bitcoin mining. The more power you give the faster you can mine. So when the power is not in the question, I don't think we will have to wait that long.

I really don't know who is filling your heads with such nonsense that you think that some new technologies will somehow manage to "cheat" what is predetermined, so we will jump over all "obstacles" and simply mine all Bitcoins at least 100 years before we should.
-snip-

Actually, it's not cheating, maybe this is some kind of supercomputer used to mine Bitcoin so @tjtonmoy can assume that mining which is usually completed up to 100 years can be cut to 10-20 years with just a supercomputer.

But that is indeed an unsubstantiated assumption and does the math on how much mining fees would be required by a supercomputer.

Simply put, Bitcoin mining is only worth thousands of dollars that can be obtained in a day, but you have to pay the cost of using supercomputer power tens to hundreds of thousands of dollars and that's still the cost of electricity alone, not including staff salaries, mechanics and others.
Obviously, it will not be profitable.

Instead, it would be more profitable to use the Bitman Antminer S19 Pro which only uses fairly low power and can benefit rather than having to use an ASIC computer or supercomputer.

Here is the Comparison Calculator.

ASIC Computer

Bitmain Antminer S19 Pro

[crwth]

How fast and quick it has been since it was established? It seems that it's so close but the truth of the matter is it will still take time to mine it. What will make sense is that the price would still be profitable for the miners, if not then it would be a problem I think, or an opportunity for others to take over.

That's the problem I'm seeing, not just the maximum mined amount.

[Ale88]

Yeah, you read that right, 93% of all existing Bitcoins have been mined already, we have just 7% remaining, and it is estimated that the last Bitcoin will be mined by the year 2140, that is approximately 117 years from this year 2023.

100 years makes 1 century right? yeah, so this means that the remaining 7% of bitcoin yet to be mined will take more than one century to mine all of them.

Now, with bitcoin becoming more popular and expensive as time progresses, Billions are gonna be competing to mine the last remaining bitcoin, if not for anything, to at least have it as a legacy that they were among those that mined the last bitcoins, I also want this as a legacy for myself but unfortunately, I probably won't be alive in the next 70 to 80 years from now, and so it is also for majority of us here right now.

Are you here and still unsure whether bitcoin is the right asset to invest in, well, just start accumulating bitcoin today before it's too late, if you feel you are too old and don't have any need for bitcoin, you sure need bitcoin for the generation coming through you, accumulate bitcoin for them, it's a legacy they will live to forever remember you for.

I think that the next one is going to be the last halving with some kind of importance, after that people will care less and less about the halvings because the quantities of new bitcoins entering the market thanks to miners will be very limited. Probably the price is going to be higher at that point, but personally I won't have the same expectations as I did in the past.

[stompix]

Actually, it's not cheating, maybe this is some kind of supercomputer used to mine Bitcoin so @tjtonmoy can assume that mining which is usually completed up to 100 years can be cut to 10-20 years with just a supercomputer.

Bruh, mining does work like that !

If next week we double the hashrate the only result will be the cut from 14 days to 7 days, to keep going on like this we need that in every two weeks intervals to add enough power to double the hash rate, and you have to do it every single time because otherwise even if you add four times it doesn't work to that result!

You have scenarios A,B,C:

A is little hashrate added or substracted for for weeks
- 14 days , 14 days and one hour, 13 days and 23 hours, 14 days and 2 hours ~ 56 days
B is doubling the hash rate every two weeks to a total of x16
- 7 days, 7 days , 7 days, 7 days  ~ 28 days
C is doubling, not doing a thing, quadrupling, doubling to a  total x16
- 7 days, 14 days, 3 days and a half , 7 days, ~ surprise is ~ 31.5 days

For mining to be done in 20 years instead of 100 years you would need to raise the hashrate every two weeks interval by a factor of 5. For it to be done in 10 years you would need to increase it EVERY two weeks by 10x.

If you increase the hashrate every two weeks by ten you have 1,4 days every single time instead of 14 days, so 2.8 days instead of 28 days.
If you increase it by 100 but the next period you don't do it then you have 14 days and 3 hours instead of 28 days.
Despite the same hash rate in the end you have a difference of 80% effectiveness.

Now, I hope I don't have to also paint the power needed to achieve x10 every week, which would end up needing the sun to power it up.

[tjtonmoy]

You do know we have a thing called difficulty adjustment right?
So even if by tomorrow you would find a machine that mises coins one quadrillion times faster all that will happen is it won't be 100 years, it will be 99 years and 50 weeks.

So that's how it works. I did know about difficulty adjustment but didn't know how much it affects the mining. I think I saw it in a post in this forum talking about Bitcoin getting mind quicker than it is assumed. I can't remember where I saw it so that I can give a link to the post but I still remember that people were talking about Bitcoin getting mined quicker with more powerful computer which could take less time.

Thank you for clearing my doubts. But if I can find that post I will be sure to add the link here. But here's another question if you would answer it for me. When the reward keeps getting half after certain amount of block has been mined, Will people still be willing to mine because of the less reward and high cost?

Theoretically speaking, if the Bitcoin price doesn't go up and become stable, but the difficulty keeps on getting hard and the energy cost keep on rising is it going to be profitable to still mine? And if it's not profitable, then people won't do it. If that's the case then is it going to be over in a hundred years, or will it take more time or it will be just staying on the block not getting mined?

[philipma1957]

How fast and quick it has been since it was established? It seems that it's so close but the truth of the matter is it will still take time to mine it. What will make sense is that the price would still be profitable for the miners, if not then it would be a problem I think, or an opportunity for others to take over.

That's the problem I'm seeing, not just the maximum mined amount.

Satoshi’s invention is not btc it is pow 💥

ie watts to wealth

he used Btc as a subset of pow.

all btc max guys want to ignore this.

they push at this hard.

but at the moment the second biggest pow al-gore-rythm is scrypt.

It merge mines LTC/Doge

basically scrypt is better than btc for long term value because doge has a controlled descending inflation concept.

ie doge
x coins every year
year. inflation rate
1
2 x.      100%
3 x.        50%
4 x.        33%
5 x.        25%
6 x.         20%
…
10 x
11 x.      10%
…
20 x
21 x.     5%
…
50 x
51 x.    2%
…
100
101 x 1%


so around 2114 or so scrpyt will be doing much better than btc as a pow coin

I will be long gone by then as will most likely all of us.

As of today I see the biggest danger to BTC staying as the premium POW coin as ltc/doge

I see this happening by 2056 unless there is a tweak by BTC. in its pow setup.

[stompix]

So that's how it works. I did know about difficulty adjustment but didn't know how much it affects the mining. I think I saw it in a post in this forum talking about Bitcoin getting mind quicker than it is assumed. I can't remember where I saw it so that I can give a link to the post but I still remember that people were talking about Bitcoin getting mined quicker with more powerful computer which could take less time.

Bitcoin can get mined quicker for a limited time, for example, right now we have a pace of 106% but this will be erased by the next adjustment, you will need to add 6% more to get that ~6% reduction (let's ignore a bit that 6% out of 106 is not really 6) so doing this for 20 years you end up with x1.442281 E+13 or x14422811837868 more hash rate needed!

Thank you for clearing my doubts. But if I can find that post I will be sure to add the link here. But here's another question if you would answer it for me. When the reward keeps getting half after certain amount of block has been mined, Will people still be willing to mine because of the less reward and high cost?

Yes and no, some will keep going like Phil or Mikey some which have lost access to cheaper energy like me will quit!
Once the pie needs to be split in 4 pieces instead of 10 you will have a bit of growth then some others are going to drop and so on and on and on till it's either a million or a single guy mining, it will always be an equilibrium by a simple thing, the amount rewarded by day!

Theoretically speaking, if the Bitcoin price doesn't go up and become stable, but the difficulty keeps on getting hard and the energy cost keep on rising is it going to be profitable to still mine?

As before, if it's not profitable x amount of the miners will drop, and the remaining will see their revenue going up by the same percentage.
That aside you can't have difficulty going up without people adding gear, if mining is unprofitable you will not have gear added and difficulty will stay the same!

If that's the case then is it going to be over in a hundred years, or will it take more time or it will be just staying on the block not getting mined?

You only need a guy with a CPU to run the blockchain in an extreme situation, of course this would not be possible if every single miner right now quits as a CPU miner will take millennia to reach the difficulty adjustment, but if this is gradual in 2200 maybe the blocks will be mined by home miners running NVIDIAs 200890!

Also the adjustment down is the same as up, assuming half of the miners quit tomorrow you will just have one extended period from 14 days to 28 days, not from 100 years to 200 years, it will take just 7 days more!

[JunaidAzizi]

Well, you are right in that about 19 million of Bitcoin has been mined, and only 2 million of Bitcoin which makes 7% of the remaining bitcoin are left. We all know that the whole count of Bitcoin is 21millions and 19 million are mined you said that the remaining 7% of Bitcoin takes approximately 117 years which is 1 century and 17 years.

Lucius, any feedback on this gem?  

As I read that a single Bitcoin is mined in about one hour so how does 93% take such a short time to mine?

Wow, 150 merits, one year on this forum, and he knows one Bitcoin is mined per hour!

I wouldn't be surprised if such a conclusion comes to a bounty hunter, but some members should start learning some basics if they don't want others to laugh at them.

Wow 150 merits in just one hour for me, it's unbelievable for me that a forum legendary member wants to give me 150 merits I will be gonna very happy if it occurs. Well, I made a big mistake a few days ago but I think the fault is not mine I was on Facebook scrolling and suddenly saw this information and my stupidity is that I believe in it . I think that it's true as I am still a knowledge seeker and from everywhere I find knowledge I take it so that is why I made this mistake. There is a beautiful phrase and I loved it that sometimes bad thing happens just for the betterment. If I did not post that thing here and you people did not respond to it then how did I get to know that this information is wrong, if you did not tell me this I believe this for the rest of my life. I edited my post yesterday a corrected it, and I am thankful for you guys to make me correct, thanks to you both.