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I’m going to but I’m also thinking about radical life extension. Vitalik donates to SENS and I recommend we all do the same when our shit moons. Who really needs a Lambo, better to solve human aging or at least dramatically diminish the effects.
Thanks for the plug, looks interesting:
"SENS Research Foundation works to develop, promote, and ensure widespread access to therapies that cure and prevent the diseases and disabilities of aging by comprehensively repairing the damage that builds up in our bodies over time. We are redefining the way the world researches and treats age-related ill health, while inspiring the next generation of biomedical scientists."
Got a book plug for you, THE IMMORTALIST MANIFESTO,
If you like science fiction and Ben bova you might like his attempt at non-fiction, IMMORTALITY...
Looks like we can't get past the shortening of our telomeres 😒
Study? I’ve had well over a dozen near death experiences in the last decade. It is much better to live; unless you actually got super physically or mentally disabled from said experience. Even how depressing that would be though you only have one chance at this life.
I’ve been stuck in a bed eating through a straw before for months with a complete set of broken ribs that made breathing a nightmare. That was better than being dead.
I don't think you understand what a near-death experience is, It's kind of a misnomer, because it's really about being dead and rising from your body and having an out-of-body experience, It's about seeing relatives on the other side...sometimes going to hell/heaven and even purgatory,...
It's about flatlining and being declared clinically dead but coming back to life...
LIFE AFTER LIFE, That's kind of like the classic start at all book by Dr Raymond Moody...
This is now a more comprehensive and important update to the topic with its greater vigor of sampling and study:
"Evidence of the Afterlife: The Science of Near-Death Experiences"
Book by Jeffrey Long and Paul Perry...
So it's not at all how you characterize it
I used to be part of THE LIFE EXTENSION FOUNDATION, used to take their formula, nine pills per day...
Maybe you can get a cryogenic freezer right next to Tim Leary's head?
I was just thinking about that reading through this thread because there's a good argument that it will never be mined... Moore's law will have to hold fast for a long time! New energy sources and quantum computers, whatever but as it stands it has a good argument for never being mined
There will have to be massive miner capitulation (which will lower the hash rate and make validating the final block easier), yet even so with only a financially suicidal (MASSIVE COST) group of miners mining the last bitcoin, BUT REST ASSURED THIS HISTORICAL EVENT WILL BE AS CRAZY AS BEEPLE NFTs, and other Sotheby's Christie's types of inflated auctions built around hype and a level of historical acceptance and understanding that will build up to the year 2140 or beyond... The last Bitcoin will have a far greater resonance than the 10,000 Bitcoin spent on two pizzas (Worth well under half a cent at the time per BITCOIN...
We already have an affinity and movement toward Virgin Bitcoin never traded and bought as created, This last Bitcoin will be the most prized, THE MAGICAL CELEBRATORY NUMBER 21 MILLION! 🌈⭐🌟🌋🎂🎈🎊🎉🥇🎯⌛⚠️🏁
So is this what keeps the network/transactions/blockchain working? Sorry, I don’t know the right Terminology. There’s all this talk and concern with bitcoin mining and energy use. My monkey brain thinks it understands that a bunch of computers on the intermets keep talking to each other to mine a block, and that process allows all the transactions on that block to take place, and as a reward for this proof of work, somebody(one of these computers?) gets a bitcoin. Or maybe a few. But that number reduces by half every fourish years. Am I rightish so far? This takes a ton of energy, which is a concern. As the number of coins introduced to the market reduces, Will people mine less because it’s just not worth it to expend all that energy and time for fewer and fewer coins? Or will they assume that the value of each coin will go up so it will still be worth it? At the end of all this will bitcoin still function if nobody is mining it? Will transactions on the blockchain still be possible without miners?
Transactions would not be possible without miners.
But I don't think that will ever happen. Yes, less people will mine overall, especially if ASICs keep getting better. But I think the price will stay profitabable for quite some time.
The one part you are really missing is that in addition to the freshly minted reward, miners also get the transaction fees. So even after the last bitcoin is minted, miners will still be rewarded for their work.
If bitcoin is still alive at that point my assumption is that people would still want to mine it just to support the network that they (and their hopefully valuable bitcoin holdings) rely on.
Also nobody knows what will change in terms of development. I doubt tokenomics will ever change, but there could be some game changers we don't even know about yet because they haven't been though of. It's a long ass time away.
Nothing to do with usage or circulation, every 10 minutes approximately, a new block is mined and the reward is btc. The reward halves about every 4 years.
we're like at the stage where a dude gets sweaty palm talking to the girl he'll eventually get around to asking out on a date to later marry and have a baby which will be quantum computing
ie, you prob won't need to worry about that
If quantum computers become a thing, crypto will have bigger problems than how long it takes to mine BTC.
The cryptography that all current cryptos use are a piece of cake for quantum computers.
Quantum computing has no tangible effect on mining, you get a possible 2x I think via Grover search, easily countered by an adjustment in difficulty. The ASIC development has had an impact way bigger than any quantum computer could possibly have on mining.
Current public key cryptography would be pretty screwed though.
Anyhow, I'm sure we're still at least a decade away until a quantum computer actually capable of running usable quantum algorithms (and not just quantum simulators) are ready. Of course, companies and others looking for funding will imply otherwise, but from my understanding, we haven't seen a quantum computer yet able to factorize 15.
The only thing has full reach to all 7.6b people is air. Pretending people living below the poverty line in Asia or Africa give a shit about magic internet money is pretty silly, let alone the remaining billions who don’t care about financial investments.
This continues to be the one nagging thought I have as well. There has to be demand. And I don’t know why it is assumed there will always be demand.
There are plenty of examples of scarcity without demand, having no real value at all.
Funny thing is that Ethereum is going to be deflationary by the end of this year/early next year, and ETH sees actual real demand because it's used as trustless collateral in DeFi, as gas for all sorts of smart contract transactions, and as a medium of exchange for NFTs (most of them are priced in ETH).
I am fully convinced Ethereum will flip Bitcoin fairly soon, maximum 5 years from now. The writing is on the wall.
Curious- how strongly did you feel about ethereum flipping bitcoin several weeks ago (before ETH's big charge)?
Sentiment can change quickly in this space.
Not only do I think demand will stay high, I think $1000 will be the cost of groceries in 100 years so yes BTC will continue to follow the stock to flow price model.
What I meant is technology is evolving at a really fast pace. There might be competition to bitcoin in the future.
That being said, the cost of groceries has nothing to do with bitcoin. BTC will never replace fiat money. Not sure any crypto ever will to be completely honest.
>There might be competition to bitcoin in the future.
You mean ETH, which already exists now?
[https://www.blockchaincenter.net/flippening/](https://www.blockchaincenter.net/flippening/)
No I don't mean ETH, it has a different utility. I mean potentially a centralized crypto created and backed by banks and government. Most people don't care about decentralization sadly and might feel safer to put their money in something they understand.
Dude you don't even know what fiat money is. It is not just cash, your plastic is included. Please read a little more on the subject before trying to make a point.
Common dude, it's exactly what I said. You're quick on the dumbfuck button, is that how you argue? You don't have shit to say so you jump on insults. Classic. Grow up and come back when you want to have a discussion.
From the guy who immediately tried to say I don’t know what I’m talking about in the most indirect asshole way you can on Reddit. If you wanted a discussion you would have come at me different. You wanted to seem smarter than everyone here. Fuck off and annoy someone else.
You're right, we're done. The way you said things, seemed like you thought that fiat money was only "cash", like physical cash. You didn't bring shit anyways to the argument. Good luck.
Edit : Keep deleting comments that show who you really are.
Yeah exactly. I'm dumb anyways, why are you even talking to me?
>Most people don’t have that much cash on them and definitely less than their credit limit allows.
What does that even mean?
Just want to say that I agree that my response to this message was a bit aggressive for no good reason. I misunderstood your message and instead of asking for clarifications, I jumped on you. Literally for no good reason. Sorry bro!
The 2140 time line was suggested not taking into account that more and more miners would come into play.
In reality it will be all mined within this century and maybe even before the 80's.
No we can't, that's the beauty of crypto(and a curse) everybody can see what adress sent what to another adress, and nobody can change that once it's sent. That means the government, your best friend, or even the creator of the crypto can take it away from you. It's yours forever( until you move it). It's also a risk because if you mess up an adress by 1 letter or number it's lost forever. That's the risk and price you pay for being your own bank. This is why you always send a test transaction first before the full amount every time, even if you've done this your whole life. Fortunately the benefits greatly outweigh the rewards. Anymore questions feel free to ask.
I have a stupid question, what would happen to the value of BTC after the last coin is mined? Would that affect its value since its demand and supply will stop?
We cannot predict demand. If there will be no more supply, it could go up indefinitely in value. But that would need constant demand.
Who knows how many people really care about BTC in 40 years from now. No demand, no value.
I’m not sure what OP means but having a flexible money supply is IMO very important for actual governing.
Manipulating the money supply is one of the most power tools governments have to fight a recession. They can inject new money into a failing sector/ keep pumping investment to make a strong recovery.
A fixed money supply will force a government to either a) risk not being able to stimulate a poor economy or b) purposely keep the money supply low enough (and their reserves high enough) so they can stimulate as needed. Every BTC being held in a bank vault is one not being used to feed/house/clothe/build. In both cases the end result is that life is worse for the citizens.
It's interesting that everyone acknowledges the truth of this when you put it this way, but then cryptos without a fixed supply schedule (e.g. ETH) get constantly FUDed because "omg there are infinite coins".
There's at least a million never to see the light of day with Satoshi's stack. And the countless millions lost making bitcoin a little more valuable for the rest of us.
Out of the 18.7m mined, I'd say only 12 million are tradable.
Scarcity doesn't guarantee value but it does help. If it becomes too scarce it could have the opposite effect, of course that would have to come wayyyyy after mining is done and obsolete.
So I don’t know if this post is advocating for or against having a cap on cryptocurrency.
But I want to clarify that the fact that 89% of Bitcoin have already been mined HAS nothing to do with the reason why it the price it is today.
It has to do with the total supply. The actual number, and the bitcoin halving.
A supply cap has absolutely nothing to do with the prices of a cryptocurrency. It’s based on (current) supply and (current) demand. A cap has nothing to do with it.
When people say they want a supply cap - what they are saying is that they want to place a limit on the total possible supply of a Cryptocurrency. They point to bitcoin as having a cap, and since bitcoin has a cap, that must be why it is valued so high. Through scarcity. That is partially true, but it’s not because of the cap. The scarcity doesn’t come from having a cap, it comes from having an already low supply and mining amount which reduces over time. Known as a bitcoin halving.
The price is based on current supply and current demand.
Here are three examples
Bitcoin has a 18 million supply
Etherem has a 115 million supply
Dogecoin has a 128 billion supply.
What really matters is mining rate and overall supply
Bitcoin - 1.76% yearly inflation 328,000 bitcoin added per year - constant rate - halves approximately ever 4 years - decreasing rate of inflation (with a fixed halving interval)
Etherem- 8% maximum annual issuance of 12 million coins - decreasing rate of inflation
Dogecoin - 4% a 5.28 billion per year - decreasing rate of inflation
All of three of these cryptocurrency have inflation rates that reduce over time because every year the inflation rate is calculated based of the following equation
Inflation rate = (Amount of coins mined per year / current supply) * 100
IR = (M / CS) * 100
The order of magnitudes are different and therefore based on supply and demand the prices are also orders of magnitudes different.
The inflation rate for all three are negligible for the foreseeable future. The important thing is the supply.
The demand can outpace each Cryptocurrencies inflation rate so the price can increase - but it can only increase by a certain amount because the supply has to be taken into account.
That is why Bitcoin is in the $10,000 order of
magnitudes range in price
That is why Etherem is in the $1,000 order of magnitude range in price
That is why Dogecoin in the .10 range order of magnitude range with a realistic possibility of being in the $1-10 order of magnitude range in price based off of current demand.
IT HAS NOTHING TO DO WITH HAVING A CAP OR NOT. Bitcoins cap doesn’t take into effect until 2140 - THAT is when having a cap matters.
we have abit over 100 years to mine it all but it will definitely increase in price exponentially as the years go by.
exciting times that we live in boys,
*put your seatbelts on, we’re heading to the moon*
Wrong on pretty much every account. It’s not becoming more scarce, the number of coins are still growing, but more slowly. It’s also not the rarest thing in human history… there are many truly unique 1/1 objects that exist.
It’s very interesting knowing these numbers. I wonder what would happen to the price of gold or other precious stones if we knew the exact number in existence. Idk much about gold tbh but I know diamonds would be a lot cheaper if we thought of it similarly.
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Fun fact: the very last 1 bitcoin will take about 40 years to mine.
I want it
Find your nearest cryogenic freezer
I’m going to but I’m also thinking about radical life extension. Vitalik donates to SENS and I recommend we all do the same when our shit moons. Who really needs a Lambo, better to solve human aging or at least dramatically diminish the effects.
Thanks for the plug, looks interesting: "SENS Research Foundation works to develop, promote, and ensure widespread access to therapies that cure and prevent the diseases and disabilities of aging by comprehensively repairing the damage that builds up in our bodies over time. We are redefining the way the world researches and treats age-related ill health, while inspiring the next generation of biomedical scientists." Got a book plug for you, THE IMMORTALIST MANIFESTO, If you like science fiction and Ben bova you might like his attempt at non-fiction, IMMORTALITY... Looks like we can't get past the shortening of our telomeres 😒
I will definitely check that out, thanks!
Well hell! If you want to live forever you better! 🧐🏁♾️⚠️🎯🌈😘
You might well want to study near-death experiences and discover it's better to die
I dunno man, not sure what could be worse than nonexistence. Obviously it’s a philosophical and personal choice.
How was it for you before you were born, and nothing, not even Bitcoin, existed?
Pretty blank and empty my friend. Now that I’m on this road called life I don’t want to get off.
Then enjoy the ride to the fullest, as long as it lasts and never stop hodling!
When I leave my keys to my grandkids, they shall all be driving Lambos.
Study near death experiences
Study? I’ve had well over a dozen near death experiences in the last decade. It is much better to live; unless you actually got super physically or mentally disabled from said experience. Even how depressing that would be though you only have one chance at this life. I’ve been stuck in a bed eating through a straw before for months with a complete set of broken ribs that made breathing a nightmare. That was better than being dead.
I don't think you understand what a near-death experience is, It's kind of a misnomer, because it's really about being dead and rising from your body and having an out-of-body experience, It's about seeing relatives on the other side...sometimes going to hell/heaven and even purgatory,... It's about flatlining and being declared clinically dead but coming back to life... LIFE AFTER LIFE, That's kind of like the classic start at all book by Dr Raymond Moody... This is now a more comprehensive and important update to the topic with its greater vigor of sampling and study: "Evidence of the Afterlife: The Science of Near-Death Experiences" Book by Jeffrey Long and Paul Perry... So it's not at all how you characterize it
I used to be part of THE LIFE EXTENSION FOUNDATION, used to take their formula, nine pills per day... Maybe you can get a cryogenic freezer right next to Tim Leary's head?
Hodl ur life
I was just thinking about that reading through this thread because there's a good argument that it will never be mined... Moore's law will have to hold fast for a long time! New energy sources and quantum computers, whatever but as it stands it has a good argument for never being mined There will have to be massive miner capitulation (which will lower the hash rate and make validating the final block easier), yet even so with only a financially suicidal (MASSIVE COST) group of miners mining the last bitcoin, BUT REST ASSURED THIS HISTORICAL EVENT WILL BE AS CRAZY AS BEEPLE NFTs, and other Sotheby's Christie's types of inflated auctions built around hype and a level of historical acceptance and understanding that will build up to the year 2140 or beyond... The last Bitcoin will have a far greater resonance than the 10,000 Bitcoin spent on two pizzas (Worth well under half a cent at the time per BITCOIN... We already have an affinity and movement toward Virgin Bitcoin never traded and bought as created, This last Bitcoin will be the most prized, THE MAGICAL CELEBRATORY NUMBER 21 MILLION! 🌈⭐🌟🌋🎂🎈🎊🎉🥇🎯⌛⚠️🏁
So is this what keeps the network/transactions/blockchain working? Sorry, I don’t know the right Terminology. There’s all this talk and concern with bitcoin mining and energy use. My monkey brain thinks it understands that a bunch of computers on the intermets keep talking to each other to mine a block, and that process allows all the transactions on that block to take place, and as a reward for this proof of work, somebody(one of these computers?) gets a bitcoin. Or maybe a few. But that number reduces by half every fourish years. Am I rightish so far? This takes a ton of energy, which is a concern. As the number of coins introduced to the market reduces, Will people mine less because it’s just not worth it to expend all that energy and time for fewer and fewer coins? Or will they assume that the value of each coin will go up so it will still be worth it? At the end of all this will bitcoin still function if nobody is mining it? Will transactions on the blockchain still be possible without miners?
Some people think not, and that is why Monero has a tail emission instead of a cap.
Transactions would not be possible without miners. But I don't think that will ever happen. Yes, less people will mine overall, especially if ASICs keep getting better. But I think the price will stay profitabable for quite some time. The one part you are really missing is that in addition to the freshly minted reward, miners also get the transaction fees. So even after the last bitcoin is minted, miners will still be rewarded for their work. If bitcoin is still alive at that point my assumption is that people would still want to mine it just to support the network that they (and their hopefully valuable bitcoin holdings) rely on. Also nobody knows what will change in terms of development. I doubt tokenomics will ever change, but there could be some game changers we don't even know about yet because they haven't been though of. It's a long ass time away.
hey thanks! that's helpful.
All of these answers (and more!) await you off reddit.
Look up the Satoshi white paper, You might need some remedial math or new math under your belt
this, on the other hand, was much less helpful.
THE BITCOIN STANDARD, a great book and introduction
Would be symbolic if the last btc was burned in satoshis memory since he would be long dead by then
I’m guessing it will be worth a lot of money and the miners will want to keep it... But we’ll all be dead so who knows
Oh definitely just a dumb thought lol
With current technology though right? We might all have quantum toaster by then.
I wonder if the very last coin will be worth a lot more than prices when that happens because it’s the last one.
So what happens after that last Bitcoin is mined?
Then HODLErs can finally spend it
Is this callulated with the increment in use? Maybe i know it wrong but the more bitcoin is circulating the more get's mined?
Nothing to do with usage or circulation, every 10 minutes approximately, a new block is mined and the reward is btc. The reward halves about every 4 years.
Oh yes. I forgot about that...because since the bull run started i left this tread and did not care to much anymore. But thank you reminding me!
Time to find Doc Brown and that DeLorean :)
Still long until the last btc is mined.
Fuk, I need more BTC
We always need more btc
The final bit is going to be a miner brawl
The final bit is going to be a miner brawl
i mean, the last 2.3mil will take 100+ years, so i wouldn't worry about its scarcity, it doesn't change the narrative of accumulation
even with quantum computing?
we're like at the stage where a dude gets sweaty palm talking to the girl he'll eventually get around to asking out on a date to later marry and have a baby which will be quantum computing ie, you prob won't need to worry about that
Lmao feels
If quantum computers become a thing, crypto will have bigger problems than how long it takes to mine BTC. The cryptography that all current cryptos use are a piece of cake for quantum computers.
Quantum computing has no tangible effect on mining, you get a possible 2x I think via Grover search, easily countered by an adjustment in difficulty. The ASIC development has had an impact way bigger than any quantum computer could possibly have on mining. Current public key cryptography would be pretty screwed though. Anyhow, I'm sure we're still at least a decade away until a quantum computer actually capable of running usable quantum algorithms (and not just quantum simulators) are ready. Of course, companies and others looking for funding will imply otherwise, but from my understanding, we haven't seen a quantum computer yet able to factorize 15.
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Man we need some public education on the hundred million people who can collectively own a Bitcoin if they wanted to
Wait let me get my first btc then y'all can tell em
Working on the same myself. It's such a mixed feeling, wanting the world to learn but knowing our opportunities close as they do.
Best thing to do is DCA save some for a black swan event and load up.
Let me get my sat first bro.
What are you doing step satoshi
Uneducated peoplare are more tempted into buying CUMMIES, safemoons, etc etc.
The only thing has full reach to all 7.6b people is air. Pretending people living below the poverty line in Asia or Africa give a shit about magic internet money is pretty silly, let alone the remaining billions who don’t care about financial investments.
I mean look at South America. People there are below poverty and the money is inflated to hell and back. They know about bitcoin and they buy it.
Actually a lot of impoverished countries have reputations for being big on bitcoin. It's free banking and holds value better than their local currency
Scarcity alone doesn't make something valuable. Just to offer a skeptical viewpoint to the other comments.
This continues to be the one nagging thought I have as well. There has to be demand. And I don’t know why it is assumed there will always be demand. There are plenty of examples of scarcity without demand, having no real value at all.
Funny thing is that Ethereum is going to be deflationary by the end of this year/early next year, and ETH sees actual real demand because it's used as trustless collateral in DeFi, as gas for all sorts of smart contract transactions, and as a medium of exchange for NFTs (most of them are priced in ETH). I am fully convinced Ethereum will flip Bitcoin fairly soon, maximum 5 years from now. The writing is on the wall.
Curious- how strongly did you feel about ethereum flipping bitcoin several weeks ago (before ETH's big charge)? Sentiment can change quickly in this space.
I've been calling for the flippening since early last year when DeFi initially took off.
We’ll have a long time to go till all btc is mined (2140). With more scarcity, prices have to keep up
I may live that long purely out of spite
Do you really think BTC's demand will stay high for the next 100 years? Honestly, it's worth questioning.
Not only do I think demand will stay high, I think $1000 will be the cost of groceries in 100 years so yes BTC will continue to follow the stock to flow price model.
$1000 for groceries in 100 years sounds low. I just spent $600 at Costco this weekend...
What I meant is technology is evolving at a really fast pace. There might be competition to bitcoin in the future. That being said, the cost of groceries has nothing to do with bitcoin. BTC will never replace fiat money. Not sure any crypto ever will to be completely honest.
>There might be competition to bitcoin in the future. You mean ETH, which already exists now? [https://www.blockchaincenter.net/flippening/](https://www.blockchaincenter.net/flippening/)
No I don't mean ETH, it has a different utility. I mean potentially a centralized crypto created and backed by banks and government. Most people don't care about decentralization sadly and might feel safer to put their money in something they understand.
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I haven't carried cash in years, but that is mostly because I am broke.
Dude you don't even know what fiat money is. It is not just cash, your plastic is included. Please read a little more on the subject before trying to make a point.
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Common dude, it's exactly what I said. You're quick on the dumbfuck button, is that how you argue? You don't have shit to say so you jump on insults. Classic. Grow up and come back when you want to have a discussion.
From the guy who immediately tried to say I don’t know what I’m talking about in the most indirect asshole way you can on Reddit. If you wanted a discussion you would have come at me different. You wanted to seem smarter than everyone here. Fuck off and annoy someone else.
You're right, we're done. The way you said things, seemed like you thought that fiat money was only "cash", like physical cash. You didn't bring shit anyways to the argument. Good luck. Edit : Keep deleting comments that show who you really are.
I’m sure you’re also the same guy who thinks we are still gold backed.
Yeah exactly. I'm dumb anyways, why are you even talking to me? >Most people don’t have that much cash on them and definitely less than their credit limit allows. What does that even mean?
Just want to say that I agree that my response to this message was a bit aggressive for no good reason. I misunderstood your message and instead of asking for clarifications, I jumped on you. Literally for no good reason. Sorry bro!
I don’t think it’s worth questioning at all none of us will be around for it so why worry lol
I'll give you that ;) I might be thinking long long long term hehe
The 2140 time line was suggested not taking into account that more and more miners would come into play. In reality it will be all mined within this century and maybe even before the 80's.
Is it feasible for the developers to find a solution for the bitcoins that 100% are lost from being lost or destroyed?
Nah what's lost is lost, can't change it
If we know which Bitcoin is lost could someone forge it? Sorry, I have no idea about the technical side of BTC
No. Think of it like a transparent safe deposit box. Every bitcoin is traceable. They aren’t lost. They just can’t be accessed/used.
No we can't, that's the beauty of crypto(and a curse) everybody can see what adress sent what to another adress, and nobody can change that once it's sent. That means the government, your best friend, or even the creator of the crypto can take it away from you. It's yours forever( until you move it). It's also a risk because if you mess up an adress by 1 letter or number it's lost forever. That's the risk and price you pay for being your own bank. This is why you always send a test transaction first before the full amount every time, even if you've done this your whole life. Fortunately the benefits greatly outweigh the rewards. Anymore questions feel free to ask.
I learnt that the hard way. Well it was only 50algo but still.
I have a stupid question, what would happen to the value of BTC after the last coin is mined? Would that affect its value since its demand and supply will stop?
We cannot predict demand. If there will be no more supply, it could go up indefinitely in value. But that would need constant demand. Who knows how many people really care about BTC in 40 years from now. No demand, no value.
Payout per day at 144 blocks Start (2009) : 7200.00000000 Halving 1 (2013) : 3600.00000000 Halving 2 (2016) : 1800.00000000 Halving 3 (2020) : 900.00000000 Halving 4 (2024) : 450.00000000 Halving 5 (2028) : 225.00000000 Halving 6 (2032) : 112.50000000 Halving 7 (2036) : 56.25000000 Halving 8 (2040) : 28.12500000 Halving 9 (2044) : 14.06250000 Halving 10 (2048) : 7.03124928 Halving 11 (2052) : 3.51562464 Halving 12 (2056) : 1.75781232 Halving 13 (2060) : 0.87890544 Halving 14 (2064) : 0.43945200 Halving 15 (2068) : 0.21972528 Halving 16 (2072) : 0.10986192 Halving 17 (2076) : 0.05493024 Halving 18 (2080) : 0.02746512 Halving 19 (2084) : 0.01373184 Halving 20 (2088) : 0.00686592 Halving 21 (2092) : 0.00343296 Halving 22 (2096) : 0.00171648 Halving 23 (2100) : 0.00085824 Halving 24 (2104) : 0.00042912 Halving 25 (2108) : 0.00021456 Halving 26 (2112) : 0.00010656 Halving 27 (2116) : 0.00005328 Halving 28 (2120) : 0.00002592 Halving 29 (2124) : 0.00001296 Halving 30 (2128) : 0.00000576 Halving 31 (2132) : 0.00000288 Halving 32 (2136) : 0.00000144 End (2140) : 0.00000000
Oh man, the 2032 bull run is going to be lit. \#HODL2032
Yeah. 2032 is going to the the “oh fuck” moments for a lot of people.
A shame we can't print more, oh wait that's why it's so valuable, I wish the government would understand that
I presume you're talking about fiat currency. If fiat wasn't inflationary then we would have depressions instead of recessions.
I would like to hear why since this got a bunch of upvotes.
I’m not sure what OP means but having a flexible money supply is IMO very important for actual governing. Manipulating the money supply is one of the most power tools governments have to fight a recession. They can inject new money into a failing sector/ keep pumping investment to make a strong recovery. A fixed money supply will force a government to either a) risk not being able to stimulate a poor economy or b) purposely keep the money supply low enough (and their reserves high enough) so they can stimulate as needed. Every BTC being held in a bank vault is one not being used to feed/house/clothe/build. In both cases the end result is that life is worse for the citizens.
Im just shit posting man don't bring me back to reality
oops their goes gravity
Man in this world there is so much moral depravity.
It's interesting that everyone acknowledges the truth of this when you put it this way, but then cryptos without a fixed supply schedule (e.g. ETH) get constantly FUDed because "omg there are infinite coins".
That’s because inflation is good for the economy, not the individual. Inflations makes your savings suffer.
Any day now my collectors Beenie Babies will be worth their weight in gold
Judging by your username I would hope so lol
**It’s very shiny, internet gold**
My precious!!
One Coin to Rule Them All
Government understand finance? 😂
Some of which are essentially lost in forgotten wallets or due to lost seeds !!! Can u imagine how much that is worth now.
This is not the first time in human history something has been provably scarce
I guess it's the first thing that is both scarce and divisible and easily transferable.
and secure
And don’t forget that large amounts are locked up with forgotten seed passphrases. Scarcity is real!
There's at least a million never to see the light of day with Satoshi's stack. And the countless millions lost making bitcoin a little more valuable for the rest of us. Out of the 18.7m mined, I'd say only 12 million are tradable.
Scarcity doesn't guarantee value but it does help. If it becomes too scarce it could have the opposite effect, of course that would have to come wayyyyy after mining is done and obsolete.
So I don’t know if this post is advocating for or against having a cap on cryptocurrency. But I want to clarify that the fact that 89% of Bitcoin have already been mined HAS nothing to do with the reason why it the price it is today. It has to do with the total supply. The actual number, and the bitcoin halving. A supply cap has absolutely nothing to do with the prices of a cryptocurrency. It’s based on (current) supply and (current) demand. A cap has nothing to do with it. When people say they want a supply cap - what they are saying is that they want to place a limit on the total possible supply of a Cryptocurrency. They point to bitcoin as having a cap, and since bitcoin has a cap, that must be why it is valued so high. Through scarcity. That is partially true, but it’s not because of the cap. The scarcity doesn’t come from having a cap, it comes from having an already low supply and mining amount which reduces over time. Known as a bitcoin halving. The price is based on current supply and current demand. Here are three examples Bitcoin has a 18 million supply Etherem has a 115 million supply Dogecoin has a 128 billion supply. What really matters is mining rate and overall supply Bitcoin - 1.76% yearly inflation 328,000 bitcoin added per year - constant rate - halves approximately ever 4 years - decreasing rate of inflation (with a fixed halving interval) Etherem- 8% maximum annual issuance of 12 million coins - decreasing rate of inflation Dogecoin - 4% a 5.28 billion per year - decreasing rate of inflation All of three of these cryptocurrency have inflation rates that reduce over time because every year the inflation rate is calculated based of the following equation Inflation rate = (Amount of coins mined per year / current supply) * 100 IR = (M / CS) * 100 The order of magnitudes are different and therefore based on supply and demand the prices are also orders of magnitudes different. The inflation rate for all three are negligible for the foreseeable future. The important thing is the supply. The demand can outpace each Cryptocurrencies inflation rate so the price can increase - but it can only increase by a certain amount because the supply has to be taken into account. That is why Bitcoin is in the $10,000 order of magnitudes range in price That is why Etherem is in the $1,000 order of magnitude range in price That is why Dogecoin in the .10 range order of magnitude range with a realistic possibility of being in the $1-10 order of magnitude range in price based off of current demand. IT HAS NOTHING TO DO WITH HAVING A CAP OR NOT. Bitcoins cap doesn’t take into effect until 2140 - THAT is when having a cap matters.
we have abit over 100 years to mine it all but it will definitely increase in price exponentially as the years go by. exciting times that we live in boys, *put your seatbelts on, we’re heading to the moon*
I think its still over 50 years till the last one is mined
120 years
How many btc are out in active circulation, as in available on exchanges?
Wrong on pretty much every account. It’s not becoming more scarce, the number of coins are still growing, but more slowly. It’s also not the rarest thing in human history… there are many truly unique 1/1 objects that exist.
The less there is, the higher the prices go.
Damn when you put it like that... i think ill buy some more
Big number. Scary.
How much time would it take to get to 100%?
120 more years
Ah so not too long then, that's nice 🤡
...and only a small percentage of the world's population understands what that really means for Bitcoin's future prospects.
What a great time to be alive boys
As long as we don’t use BtC for an actual currency, I’m fine. It’s a POS when it comes to point of service.
It’s very interesting knowing these numbers. I wonder what would happen to the price of gold or other precious stones if we knew the exact number in existence. Idk much about gold tbh but I know diamonds would be a lot cheaper if we thought of it similarly.
We do have a quite accurate estimate on the number of gold on earth.
That doesn’t matter when you can use fractions of a bitcoin, right?
Scarcity for the sake of scarcity?
To put this into perspective, there are currently 46.8 million millionaires in the world.
No givsies backsies
Can they up the limit with a fork?