Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: emma.lee1890 on November 02, 2018, 03:30:05 PM
-
Bitcoin is like gold in many ways. Like gold, Bitcoin cannot simply be created arbitrarily. Gold must be mined out of the ground, and Bitcoin must be mined via digital means. Linked with this process is the stipulation set forth by the founders of Bitcoin that, like gold, it have a limited and finite supply. In fact, there are only 21 million Bitcoins that can be mined in total. Once miners have unlocked this many Bitcoins, the planet's supply will essentially be tapped out, unless Bitcoin's protocol is changed to allow for a larger supply. I am just wondering when will the entire mining be done and what happens after that?
-
After all the bitcoin has been unearthed i do believe that the number of bitcoin in circulation would be enough to cater the needs of bitcoin land. And as primarily designed, the max number of bitcoin should be able to adress the requirement of the times to come.
-
Nothing significant will happen if the last bitcoin is obtained. True, it is planned in more than a hundred and twenty years and we will not see it. However, it is most likely that this will not happen, because Bitcoin, like the whole cryptocurrency, can undergo significant changes. Cryptocurrency technology can change so much that it will not be necessary to extract all 21 million bitcoins.
-
I think that after this, when all bitcoins are mined, the price will increase a thousand times, because the coins will be unavailable, they will be in the general circle of people. Therefore, at the moment the price of Bitcoin is so low that you need to participate in many projects to create a good portfolio of promising coins. Here is an example of #swachhcoin. The project will pay people for their trash. At the moment the bonus is 25%, you can buy coins until mid-December. I advise you to see the project.
-
until now no one knows exactly when bitcoin has been used up for mining, and I think it still has a very long time to reach and the bitcoin is used up to be mined.
-
Bitcoin is like gold in many ways. Like gold, Bitcoin cannot simply be created arbitrarily. Gold must be mined out of the ground, and Bitcoin must be mined via digital means. Linked with this process is the stipulation set forth by the founders of Bitcoin that, like gold, it have a limited and finite supply. In fact, there are only 21 million Bitcoins that can be mined in total. Once miners have unlocked this many Bitcoins, the planet's supply will essentially be tapped out, unless Bitcoin's protocol is changed to allow for a larger supply. I am just wondering when will the entire mining be done and what happens after that?
I think some peoples still confused about the mining activity, where they get the coin?
I have read about this questions but I'm forget the source of this, I have read if miners get the coin from the transactions activity (fee), when you do transaction, there will be a fee charge to you for your every transactions, so the miners will help it to process your transactions by fixing the algorithm code, and they will get the coin from your fee.
The miners not mining the stock of coin which that not circulated, the stock of that coin will be distribute by the hardfork, usually every holder of that coin will get more coin and the stock will be sirculated.
-
I think that interest in Bitcoin and its popularity will disappear before miners can get last bitcoin. They will switch attention to another cryptocurrency, which will replace bitcoin, so perhaps the last bitcoin will never be mined.
-
network will proceed transaction and mining will be ended but miner will get some fee if they run network for completing transaction.
i think after all bitcoin mined price will be skyrocketed.
-
But to spend the supply of 21 million Bitcoin requires more than 100 years according to the article I have read, currently the circulation of bitcoin around the world has reached 17,365,000, while the remaining Bitcoin is currently only around 2,650,0000. if the supply of bitcoin has run out in the mine, I consider the price of Bitcoin to be rare and very expensive.
-
I do not think that if they get all the bitcoins, something special will happen. Since before this time there are still more than one hundred and twenty years old, during this time there can be a lot of changes. Most likely, during this time it will change a lot, or it will disappear completely. Either they will get it much faster due to the changed technology, or for the same reason they will not be able to extract it completely all 21 million. So there are a lot of options and we, it seems, will not know the results.
-
I also wonder what it will be like. Can have a good impact on the price of bitcoin or even go down because there is no miner. I don't understand this yet
-
one thing will happen when the last bitcoin will be mine for sure the price of bitcoin will be skyrocketing