Will Bitcoin ever run out?

[Citysatoshi]

Hello, Bitcoin fans!

Despite its rise and fall in value over the last few years, Bitcoin is still one of the most in-demand cryptocurrencies in the market. With the increasing number of people diving into Bitcoin, more and more BTCs are being mined every single day, which poses the question: Will Bitcoin ever run out? If you’re interested in more about what’s in store for the future of Bitcoin, then read on.

What is Bitcoin mining and how long will it take?

Currently, there are roughly 18,000,000 BTC tokens in existence. When the limit is reached, there will be no more tokens created. According to Decrypt.com, the last Bitcoin will be mined in 2140.

Often referred to as the ‘digital gold’, Bitcoin is obtained through a process called ‘mining’ where ‘miners’ can produce Bitcoin tokens by solving a complex mathematical problem in the blockchain. Bitcoin has a hard cap of 21 million. Meaning, there is a finite number of Bitcoin tokens that can be mined.

What happens when the last Bitcoin is mined?

A Bitcoin token is produced every 10 minutes when a miner adds a new block to the chain. Each time a miner successfully processes a transaction, they are rewarded in BTC.

Once the last Bitcoin transaction is made, all the miners in the chain will still be a part of the network, but they will no longer receive BTCs as incentives for maintaining the blockchain.

As the price of Bitcoin continues to rise, it encourages a lot of people to become miners. Through the use of high-end devices, miners are able to participate and add more blocks to the chain. However, if this process goes unchecked, the supply can run out immediately.

18.5 million Bitcoin tokens have already been mined. With roughly 3 million tokens left, it’s easy to imagine that Bitcoin’s mining stage could be coming to an end soon.

To slow down the production of tokens, Bitcoin halving happens when the 210,000 blocks are added to the blockchain. During this event, the miners’ rewards are halved to ensure that the value of Bitcoin becomes scarce, which in turn pushes up its price in the market.

When the first Bitcoin was mined, miners would receive a reward of 50 BTC. It was cut by 50% in 2012, which decreased their incentives by half. Then in 2016, miners received 12.5 BTC, and then it was again cut in half so it became 6.25 BTC in 2020. When the 740,001st block is added to the chain, the reward will be 3.125 BTC. This halving process will continue every four years until all the tokens are mined. In the Bitcoin timeline, BTC tokens won’t run out for the next hundred years.

The importance of Bitcoin’s finite supply and Bitcoin halving

The idea of an unceasing production of Bitcoin is enticing, but just like everything else in the economy, it must follow the law of supply and demand. If new Bitcoins are steadily added to the blockchain, it would result in overproduction. When this happens, the value of Bitcoin will decrease.

Contrary to the traditional banking system, minted Bitcoin tokens cannot be reprinted by the government. Because of its hard capped supply, the 21 million will stay fixed and keep its circulation in the market in check.

Is it time to mine or buy Bitcoin?

There’s no better time than now to join the crypto fray. As cryptocurrency gains traction by the day, people can see the undeniable rewards of investing and mining. If you’re a tech-savvy person, mining is an option.

On the other hand, if you’re keener to trade or just simply keep your tokens, then buying Bitcoins is better for you. Just look for a Bitcoin Exchange that features trading, buying and selling, as well as a reliable crypto wallet.

Bitcoin’s supply will not run out in the next hundred years or so and it still has time to change the financial sector as we know it. With its significant growth in the past few months, Bitcoin is on its way to ushering in the revolutionary promise of blockchain technology and decentralisation.

Which is better for you, to mine Bitcoin or buy Bitcoin?


Thanks for reading and waiting for your thoughts.
Cheers,
Karl from Bitcasino

When you consider the bitcoin total supply, it is very clear the total supply of bitcoin will be fully mined
in near future, and this could be partially a run out of bitcoin in the short term. Again, bitcoin may be consider to have run out when the supply of bitcoin has been owned by individuals in their wallets. I think bitcoin will extremely be scarce that it will look to be in a run out scenarios in the future. In a nutshell, bitcoin may run out if all bitcoin total supply is fully mined and is being owned by individuals.

[TopT3ns]

The number of Bitcoins circulating is only 21 million Bitcoins of course this will make Bitcoin more difficult to obtain and has the potential to be expensive and Bitcoin is likely to run out, so before Bitcoin gets more expensive, you should be able to buy it when the price is still cheap.

[satpol_PP]

The number of Bitcoins circulating is only 21 million Bitcoins of course this will make Bitcoin more difficult to obtain and has the potential to be expensive and Bitcoin is likely to run out, so before Bitcoin gets more expensive, you should be able to buy it when the price is still cheap.

When bitcoin circulation downs, I think it's good time to buy more and hold it.
I agree before bitcoin will  be more expensive, we should buy.
I think 2024 we will see bitcoin shines and more expensive than now.
Keep your digital asset until 2025.

[damsix]

Bitcoin will not run out because Bitcoin has decimal fractions that can be separated up to 10 numbers and it is the smallest Bitcoin value and is commonly called Satoshi.
I am sure that this Bitcoin will continue to shine and Bitcoin will become something very valuable in the future and has a value that is so expensive, it only takes one word, namely "HODL".
Bitcoin is now widely traded, played with, used on various gaming platforms, gambling or trading in various cryptocurrency markets, so don't worry about the value of Bitcoin or the Bitcoin market because Bitcoin is widely known by everyone.

[therozaq]

I think I agree with several opinions above, bitcoin will never run out.
Because bitcoin owned by many people, almost all of crypto enthusiasm.
Bitcoin is so popular and very expensive now.
Although we all see bitcoin seems struggle, but it's just bearish season.

[Madmax789]

I am new to the form, but I came to know about the problems that I had in your form.

[ashraf786100]

Although the price of bitcoin is currently in freefall, it may eventually reach an unattainable level by 2023. Although it is impossible to pinpoint the specific cause of Bitcoin's recent price surge, it is clear that it will rise much more in the near future.

[Anonylz]

100 years from now? maybe I can see the bank accepts Bitcoin as an investment asset and payments, I choose to buy Bitcoin but not everyone has expertise in mining and I think every miner will sell their Bitcoin when they need money for operational costs and other things, they prefer to hold Bitcoin for a long time because they know mining Bitcoin will generate a small reward since the Bitcoin Halving

100 years is too long mate.
I think at the next 10 years, banks will accept bitcoin and altcoins.
Every countries will have own digital currency.
Because we all know digital currency is better as payment method.
So, I believe bitcoin and altcoin will have bright future.
Let's see.

I agree, I too believe that 100 years is too far because we already have banks that have been providing some of their customers with some form of cryptocurrency services  Crypto Friendly Banks however, I do not believe that they will totally alow crypto to overtake the country's currency regardless of whether Bitcoin and other Alts will be having a good acceptance in the future.

[Zezari]

Almost all cryptocurrencies have their own service life on the market and each one can run out of time on any day, regardless of its number. For various reasons, its position in the market may change, take a new project that is better than the old one and the whole market will switch to the one with more sales.

[Muneeb22]

Bitcoin is a good coin and this time the BTC is the very popular coin and this coin will change so many peoples life and now the new crypto users will try to invest in this market and start trading in it and so many forex lover peoples will skip that trading platform and they start trading in it and make good money in this market.

[yohananaomi]

Bitcoin is a good coin and this time the BTC is the very popular coin and this coin will change so many peoples life and now the new crypto users will try to invest in this market and start trading in it and so many forex lover peoples will skip that trading platform and they start trading in it and make good money in this market.

yes, all until now still and will continue to admit that bitcoin is a good coin and has great potential to be used as an attractive and profitable investment.
it's not only beginners who are eyeing bitcoin but all those who are involved in crypto are very excited if they can get bitcoin. so if many invest in bitcoin because they know that bitcoin will bring them big profits.