Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Rabia on August 24, 2018, 03:48:18 PM
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Hello friends i just have some qeustions about the mining of btc:
1-why the total supply of bitcoin is not rise when the mining happen?
2-if the mining afect the price of bitcoin and how?
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1. Maybe because it is mined in a very small amounts
2. The price of Bitcoin is not the same as its value. Price is determined by the market in which it trades: by means of supply and demand.
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I think this topic should be posted in Mining Section: https://www.altcoinstalks.com/index.php?board=151.0
It can be easily answered their :)
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Hello friends i just have some qeustions about the mining of btc:
1-why the total supply of bitcoin is not rise when the mining happen?
2-if the mining afect the price of bitcoin and how?
if the supply is multiplied then the bitcoin price will go down, therefore bitcoin now given the limit let the price do not drop drastically.
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1. Maybe because it is mined in a very small amounts
2. The price of Bitcoin is not the same as its value. Price is determined by the market in which it trades: by means of supply and demand.
It's either going to skyrocket because of bitcoin's scarcity, or it's going to tank because of the missing miners, a big driving force on the btc price.
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Nothing out of place will happen except that the price of Bitcoin will skyrocket. By the way, the 21m is the expected total mined coins but there is no way that 21m will be in supply even after everything has been mined. Of course there are going to be lost coins in transaction or lost private keys to trace some coins. ;)
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1. So like this, when a person is mining Bitcoin, he also takes over every transaction sent by the owner of Bitcoin to Bitcoin B, before he is mining it is certain that he also has a job to transfer the Bitcoin.
2. The mining depends on the cost of electricity and computer hardware, if both of them are expensive then the Bitcoin fee transaction is expensive.
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Hello friends i just have some qeustions about the mining of btc:
1-why the total supply of bitcoin is not rise when the mining happen?
2-if the mining afect the price of bitcoin and how?
IMO, more difficult to mine = higher bitcoin price, almost same as gold. But this is old theory and as you can see the difficulty increase a lot this year but the bitcoin price still going down.
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1. Maybe because it is mined in a very small amounts
2. The price of Bitcoin is not the same as its value. Price is determined by the market in which it trades: by means of supply and demand.
Bitcoin miners help keep the Bitcoin network secure by approving transactions. Mining is an important and integral part of Bitcoin that ensures fairness while keeping the Bitcoin network stable, safe and secure.
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1. So like this, when a person is mining Bitcoin, he also takes over every transaction sent by the owner of Bitcoin to Bitcoin B, before he is mining it is certain that he also has a job to transfer the Bitcoin.
2. The mining depends on the cost of electricity and computer hardware, if both of them are expensive then the Bitcoin fee transaction is expensive.
the more blocks are solved the greater the difficulty for the miners so it takes a very long time to mine the bitcoin so that the total supply will not be seen to increase significantly different from mining with other algorithms. While mining does not significantly affect bitcoin prices because the bitcoin price in some marketplaces is the bitcoin holders, the miners only process assist in processing a bitcoin transaction.
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it is true that the amount of bitcoin supply will not rise even though mining continues to run, but that doesn't matter much.
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it is true that the amount of bitcoin supply will not rise even though mining continues to run, but that doesn't matter much.
The problem is when electricity supply and computer production continue to grow.
Then the more electricity is used, the more energy is needed to destroy Go Green.
I hope in the future Bitcoin mining must be balanced with Go Green.
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1. So like this, when a person is mining Bitcoin, he also takes over every transaction sent by the owner of Bitcoin to Bitcoin B, before he is mining it is certain that he also has a job to transfer the Bitcoin.
2. The mining depends on the cost of electricity and computer hardware, if both of them are expensive then the Bitcoin fee transaction is expensive.
the more blocks are solved the greater the difficulty for the miners so it takes a very long time to mine the bitcoin so that the total supply will not be seen to increase significantly different from mining with other algorithms. While mining does not significantly affect bitcoin prices because the bitcoin price in some marketplaces is the bitcoin holders, the miners only process assist in processing a bitcoin transaction.
"mining with other algorithms"
can you explain about that?
because I lack understanding about mining by using algorithms.
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Hello friends i just have some qeustions about the mining of btc:
1-why the total supply of bitcoin is not rise when the mining happen?
2-if the mining afect the price of bitcoin and how?
1. Supply of bitcoin is fixed from the first day of bitcoin and nobody knows why satoshi have choose 21 million as total supply of coin. Supply of bitcoin is less than 21 million right now but it is increasing everyday till it will reach that limit. After that there will be no more mining reward for miners but they will get tx fee.
2. Mining will affect total circulating supply not the total maximum supply.
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Im not sure if I'm really going to answer all your questions but I know that miners regulate bitcoin transactions thus keeping the network stable and preventing it from crashing.
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17,467,837 BTC That is the current supply for Bitcoin.
When I was in early 2018 studying cryptocurrency saw Bitcoin when its supply was around 17,260,000 BTC.
I think there might be an increase in Bitcoin mining but only a little we can know about it.