Bitcoin Forum
December 14, 2017, 10:46:56 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 »  All
  Print  
Author Topic: how many bitcoins will there be ?  (Read 1624 times)
vortexz
Legendary
*
Offline Offline

Activity: 924


GET IN - Smart Ticket Protocol - Live in market!


View Profile
August 31, 2014, 10:33:07 PM
 #1

I've heard a while ago that there will be a limited numer of bitcoins available and that at some point all bitcoins will be mined.
is that true ?
how many bitcoins are still out there to be mined and by what year will all be mined ?


               ████
             ███  ███
           ████     ███
         ███  ███    ███
       ████     ███    ███
     ███  ███     ███    ███
   ████     ███     ███   ██
 ███  ███     █████████████████
███     ███     ███           ██
 ███      ███     ██          ██
   ███      ██████████      ███
     ███      ██████      ███
       ███      ██      ███
         ███          ███
           ███      ███
             ███  ███
               ████

GUTS
    ███
███
███
███
███
███
███
███
███
███
███
███
███
███
   
smart-ticket protocol for events
live product with market traction!
    ███
███
███
███
███
███
███
███
███
███
███
███
███
███
   
  BTC ANN
  WEBSITE
  BLOG
   
  SANDBOX
  WHITEPAPER
  BOUNTY
   
1513248416
Hero Member
*
Offline Offline

Posts: 1513248416

View Profile Personal Message (Offline)

Ignore
1513248416
Reply with quote  #2

1513248416
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
shorena
Legendary
*
Offline Offline

Activity: 1400


ALL escrow is signed! https://keybase.io/verify


View Profile WWW
August 31, 2014, 10:42:42 PM
 #2

I've heard a while ago that there will be a limited numer of bitcoins available and that at some point all bitcoins will be mined.
is that true ?

Yes.

how many bitcoins are still out there to be mined and by what year will all be mined ?

The total amount of bitcoin is hardcoded to be 21 million BTC at max. The mining rewards half after a certain amount of time, which will result in almost 21 million btc sometime in the next century (year ~2140)

pringbit
Newbie
*
Offline Offline

Activity: 28


View Profile
August 31, 2014, 11:02:25 PM
 #3

Exactly 21 millions, take a look at the bitcoin wiki, you will find some interesting informations:

http://it.wikipedia.org/wiki/Bitcoin

LetsTalkBitcoin.com/?ref=1139ab66 --->0,05btc/week
AceWallen
Hero Member
*****
Offline Offline

Activity: 480



View Profile
September 01, 2014, 02:45:37 AM
 #4

Exactly 21 millions, take a look at the bitcoin wiki, you will find some interesting informations:

http://it.wikipedia.org/wiki/Bitcoin

keep in mind, however, that this hard limit can always be changed by altering the source code, should devs decide to do that. in the case of such a fork, it would be up to the miners to prevent the new fork from developing, and to keep the old code intact.

highly unlikely, but just throwing it out there. Wink
notlist3d
Legendary
*
Offline Offline

Activity: 1414



View Profile
September 01, 2014, 05:58:06 AM
 #5

Exactly 21 millions, take a look at the bitcoin wiki, you will find some interesting informations:

http://it.wikipedia.org/wiki/Bitcoin

keep in mind, however, that this hard limit can always be changed by altering the source code, should devs decide to do that. in the case of such a fork, it would be up to the miners to prevent the new fork from developing, and to keep the old code intact.

highly unlikely, but just throwing it out there. Wink

We will see I highly doubt they would do a fork at this point..... but guess you never know.  I think you have a better chance winning lottery Smiley
BeginToMine
Full Member
***
Offline Offline

Activity: 140

It is never too late to start


View Profile
September 01, 2014, 06:08:51 AM
 #6

That would couse a huge drop in value of BTC if devs would try to change amount of total BTC possible to mine.

I am not advertising anything Smiley
santaClause
Full Member
***
Offline Offline

Activity: 183


View Profile
September 01, 2014, 06:44:15 AM
 #7

Exactly 21 millions, take a look at the bitcoin wiki, you will find some interesting informations:

http://it.wikipedia.org/wiki/Bitcoin
This number will technically be a little bit less due to the fact that some TXs have outputs that were sent to unspendible addresses.
oceans
Sr. Member
****
Offline Offline

Activity: 406



View Profile
September 01, 2014, 12:51:08 PM
 #8

In answer to your question on how many there are still out there to be mined I am not sure a solid answer can be given on that but as stated above I do know that there are 21 million out there so I would imagine with bitcoin not being too popular at the moment there may still be quite a lot to be mined but I could not say that for sure.
jeroenn13
Hero Member
*****
Offline Offline

Activity: 630



View Profile
September 01, 2014, 01:28:32 PM
 #9

Fixed 21 million BTC will be mined.
minerpumpkin
Hero Member
*****
Offline Offline

Activity: 672


A pumpkin mines 27 hours a night


View Profile
September 01, 2014, 02:51:56 PM
 #10

Exactly 21 millions, take a look at the bitcoin wiki, you will find some interesting informations:

http://it.wikipedia.org/wiki/Bitcoin

keep in mind, however, that this hard limit can always be changed by altering the source code, should devs decide to do that. in the case of such a fork, it would be up to the miners to prevent the new fork from developing, and to keep the old code intact.

highly unlikely, but just throwing it out there. Wink

Devs could do whatever they want. It is up to the miners and the network though, whether those changes really become reality! That's the beauty of Bitcoin everyone can decide what he agrees to or just leave it be.

██████████████████████████████████████████████
██████████████████████████████████████████████
█████                                    █████
█████                                    █████
█████                                    █████
█████           ▄█▄        ▄█▄           █████
█████          ████████████████          █████
█████           ▀████████████▀           █████
█████           ████▀    ▀████           █████
█████           ████▄    ▄████           █████
█████           ▄████████████▄           █████
█████          ████████████████          █████
█████           ▀█▀        ▀█▀           █████
█████                                    █████
█████                                    █████
█████                                    █████
██████████████████████████████████████████████
██████████████████████████████████████████████
▄██████████████████████████▄
██                        ██
██                        ██
██                        ██
██             ▄█▀███████████
██              ▀▀▀▀▀▀▀▀▀▀██▀
██                        ██
██                        ██
██▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄██
 ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀

▄██████████████████████████▄
██                        ██
██                        ██
██                        ██
██                        ██
████████████████████████████
██                        ██
██                        ██
██▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄██
 ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
▄██████████████████████████▄
██                 ▄███▀  ██
██             ▄▄██▀▀  ▄█ ██
██     ▄    ▄███▀▀  ▄███  ██
██    ██▄▄██▀▀   ▄█████   ██
██   ████▀▀  ▄▄██▀▀ ▀█    ██
██  █▀▀   ▄▄██▀           ██
██    ▄▄███▀              ██
██▄▄▄████▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄██
 ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀

▄██████████████████████████▄
██                        ██
██  ████▄  ▄▄▄▄▄▄▄▄▄▄▄▄   ██
██     ▀█▄ ▀▀▀▀▀▀▀▀▀██    ██
██      ██         ██     ██
██       ███████████      ██
██        ▄▄     ▄▄       ██
██       ▀██▀   ▀██▀      ██
██▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄██
 ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
▄██████████████████████████▄
██                       ▄██
██                     █████
██         ▄         ███▀ ██
██       ▄███     ▄███▀   ██
██   ▄▄███▀▀███▄████▀     ██
██▄▄███▀     ▀███▀        ██
████▀                     ██
██▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄██
 ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀

▄███████████▄  ██████████████
█           █  █            █
█           █  █            █
█           █  █            █
█           █  █            █
█           █  █            █
█           █  █            █
█           █  █            █
██████▀██████  ██████▀███████
 ▀▀▀▀▀▀▀▀▀▀▀   ▀▀▀▀▀▀▀▀▀▀▀▀▀▀
ensurance982
Hero Member
*****
Offline Offline

Activity: 518


Trust me!


View Profile
September 01, 2014, 03:06:01 PM
 #11

Yeah, 21 million like the other people already stated. It's amazing to think about how more than half of those coins are already in existence even though only about 5 years have passed since Bitcoins initial conception. The last coins will me mined decades from now... It's crazy!

                                                                                                                      We Support Currencies: BTC, LTC, USD, EUR, GBP
MinerHQ
Hero Member
*****
Offline Offline

Activity: 896



View Profile
September 01, 2014, 03:27:50 PM
 #12


21 mil whole ones, infinity decimal ones Grin

FORTUNEJACK.COM[
                             
9 BTC WELCOME PACK FOR 1ST 5 DEPOSITS
FREE 1,000 mBTC daily for LuckyJack winners
[
           
]
DannyHamilton
Legendary
*
Offline Offline

Activity: 2002



View Profile
September 01, 2014, 03:48:27 PM
 #13

The total amount of bitcoin is hardcoded to be less than 21 million BTC . . .

FTFY

Exactly 20999999.9769 millions, take a look at the bitcoin wiki . . .
http://it.wikipedia.org/wiki/Bitcoin

FTFY.  Note that some have been permanently destroyed, so the total in existence when all mining is complete will be less than 20999999 BTC.

keep in mind, however, that this hard limit can always be changed by altering the source code, should devs decide to do that. in the case of such a fork, it would be up to the miners to prevent the new fork from developing, and to keep the old code intact.

Bitcoin operates on the consensus of the users, not the majority of the miners.  Every user running a full node (such as Bitcoin Core) enforces the protocol rules on the entire system.  If a forking change were made to the protocol, those users (and miners) that chose to use the new code would essentially be creating an altcoin (which they might want to try and call "bitcoin", but which wouldn't actually be "bitcoin" unless ALL users and miners switched to software running the new protocol).  If even one user and one miner continue to run the old protocol, then the original bitcoin rules would still exist on the original bitcoin network.

This number will technically be a little bit less due to the fact that some TXs have outputs that were sent to unspendible addresses.

TXs sent to unspendable addresses still exist and can be seen in the blockchain.  They may never be spent, but it doesn't change the total amount that exist. On the other hand, there were some bitcoins early on that were accidentally destroyed by a miner running faulty code.  Those bitcoins no longer exist at all, and never will.  It wasn't very many, but it could happen again in the future.

. . . how many there are still out there to be mined I am not sure a solid answer can be given on that but as stated above I do know that there are less than 21 million out there . . .

FTFY.  Also, as of the time of this post, approximately 13.216 million have been mined so far.  This leaves approximately 7.784 million more that have not yet been mined.

Fixed 21 million BTC will be mined.

Nearly, but not quite.  The total number that should have been mined was 20999999.9769 BTC. A bit less than this will actually be mined due to a bug in a miner's code early on that permanently destroyed some bitcoins from existence.

Yeah, less than 21 million like the other people already stated. It's amazing to think about how more than half of those coins are already in existence even though only about 5 years have passed since Bitcoins initial conception. The last coins will me mined decades from now... It's crazy!

FTFY. Also, It's closer to 6 years than 5 years now.  The last coins will be mined more than a century from now.

21 mil whole ones, infinity decimal ones Grin

No.  See my other responses in this post.

sehnye
Newbie
*
Offline Offline

Activity: 28


View Profile
September 01, 2014, 04:11:11 PM
 #14

21 millions as they said, it's the first thing I learned about bitcoins Smiley

LetsTalkBitcoin.com/?ref=6a191886 --->0,05btc/week
DannyHamilton
Legendary
*
Offline Offline

Activity: 2002



View Profile
September 01, 2014, 04:27:43 PM
 #15

less than 21 millions as they said, it's the first thing I learned about bitcoins Smiley

FTFY.

marcovaldo
Sr. Member
****
Offline Offline

Activity: 308



View Profile
September 01, 2014, 06:12:12 PM
 #16

13.216 btc million have been mined so far => But it is hard to know how much are "permanently lost", and how much are "being hold by anonymous people", ie how much are currently available right now. Anyway, we will all be dead when the last satoshi will eventually be mined so we do not really mind how much btc will be available in decades.



                                         ▄
                 ▄▄████████▄▄         ▄▄██
 ▄▄           ▄██▀▀        ▀▀██▄    ▄███▀
 ▀███▄▄     ▄█▀                ▀█▄▄█████▀
  ▀██████▄▄█▀                ▄▄███████▀
   ▐█████████▄           ▄▄███████████
     ▀█████████▄▄      ▄█████████████
       ▀██████████    ███████████████
        ▐▀█████████  █████████████▀ ▐▌
        ▐▌ ▀▀██████ ▐███████████▀   ▐▌
        ▐▌      ▀██ ▐█████████▀     ▐▌
         █        ▀  ██████         █
         ▐█          ▐█████▄       █▌
          ▀█▄         ▀██████▄   ▄█▀
            ▀█▄         ▀█████▌▄█▀
              ▀██▄▄       ▀▄▄██▀
                ▀▀████████▀▀
T
.ANGEL TOKEN.
[]

                                         ▄
                 ▄▄████████▄▄         ▄▄██
 ▄▄           ▄██▀▀        ▀▀██▄    ▄█▀█▀
 ▀█▀█▄▄     ▄█▀                ▀█▄▄█  ▄█▀
  ▀█  ▀▀█▄▄█▀                ▄▄██░   █▀
   ▐▄▄  ░░░▀█▄           ▄▄█▀▀░░░   ▄█
     ▀█▄ ░░░▒▒█▄▄      ▄██▒▒▒▒▒░    █
       ▀▄▄ ░░▒▒▒▓█    ██▒▒▒▒▒▒░   ▄▄█
        ▐▀█▄░░▒▒▓██  █▓▒▒▒▒▒▒░  ▄█▀ ▐▌
        ▐▌ ▀▀█▒▓███░▐█▓▒▒▒▒░░ ▄█▀   ▐▌
        ▐▌      ▀██ ▐█▓▓▒▒▄▄▄█▀     ▐▌
         █        ▀  █▓█▀▀█         █
         ▐█          ▐▄▓░ █▄       █▌
          ▀█▄         ▀█▒░ ▀█▄   ▄█▀
            ▀█▄         ▀█▄▄▄█▌▄█▀
              ▀██▄▄       ▀▄▄██▀
                 ▀▀████████▀▀
Tammy Chan
Hero Member
*****
Offline Offline

Activity: 821



View Profile
September 01, 2014, 06:41:42 PM
 #17

Bitcoin operates on the consensus of the users, not the majority of the miners.  Every user running a full node (such as Bitcoin Core) enforces the protocol rules on the entire system.  If a forking change were made to the protocol, those users (and miners) that chose to use the new code would essentially be creating an altcoin (which they might want to try and call "bitcoin", but which wouldn't actually be "bitcoin" unless ALL users and miners switched to software running the new protocol).  If even one user and one miner continue to run the old protocol, then the original bitcoin rules would still exist on the original bitcoin network.

Not sure if I understand this.
Doesn't the longest chain wins?
Say if there are only a small number of users and miners remaining in the unforked version, shouldn't miners in the forked version generate a winning chain of larger total difficulty?

DannyHamilton
Legendary
*
Offline Offline

Activity: 2002



View Profile
September 01, 2014, 06:55:15 PM
 #18

Bitcoin operates on the consensus of the users, not the majority of the miners.  Every user running a full node (such as Bitcoin Core) enforces the protocol rules on the entire system.  If a forking change were made to the protocol, those users (and miners) that chose to use the new code would essentially be creating an altcoin (which they might want to try and call "bitcoin", but which wouldn't actually be "bitcoin" unless ALL users and miners switched to software running the new protocol).  If even one user and one miner continue to run the old protocol, then the original bitcoin rules would still exist on the original bitcoin network.

Not sure if I understand this.
Doesn't the longest chain wins?
Say if there are only a small number of users and miners remaining in the unforked version, shouldn't miners in the forked version generate a winning chain of larger total difficulty?

Longest chain wins when both chains are using the same protocol.  This is why reorgs happen when two bitcoin miners find a block within a fraction of a second of each other.

When the protocols are different and incompatible (known as a forking change), then you end up with an altcoin.  This is why there isn't a "longest chain wins" situation between bitcoin and any of the other altcoins.

Those running the existing protocol won't even recognize blocks as valid if they come from miners running the new protocol.  It won't matter how long the chain is, an invalid block is ignored and tossed out.

BurtW
Legendary
*
Offline Offline

Activity: 2114

All paid signature campaigns should be banned.


View Profile WWW
September 01, 2014, 07:02:25 PM
 #19

Bitcoin operates on the consensus of the users, not the majority of the miners.  Every user running a full node (such as Bitcoin Core) enforces the protocol rules on the entire system.  If a forking change were made to the protocol, those users (and miners) that chose to use the new code would essentially be creating an altcoin (which they might want to try and call "bitcoin", but which wouldn't actually be "bitcoin" unless ALL users and miners switched to software running the new protocol).  If even one user and one miner continue to run the old protocol, then the original bitcoin rules would still exist on the original bitcoin network.

Not sure if I understand this.
Doesn't the longest chain wins?
Say if there are only a small number of users and miners remaining in the unforked version, shouldn't miners in the forked version generate a winning chain of larger total difficulty?
If you are really interested in the technical details of a hard fork read this thread:  

https://bitcointalk.org/index.php?topic=352734.0

Danny, thanks for answering all the misinformation in this thread, if you didn't do it I was about to.

Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
Tammy Chan
Hero Member
*****
Offline Offline

Activity: 821



View Profile
September 01, 2014, 07:24:39 PM
 #20

Thanks Danny and BurtW (and casascius, DeathAndTaxes, etc that posted in BurtW's linked thread).
I understand the fork issue more better now. Smiley

Pages: [1] 2 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!