93 Percent of all Bitcoin Has Been Mined

[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.