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[ Bitcoin ] The maximum number of bitcoin that will ever be mined, or be existence, is capped at 21 million , of which 17 million are now in existence. 18. The creator(s) of Bitcoin owns around 21 1 million of the total that will ever be in existence.
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09-05 06:54 - 'The maximum number of bitcoin that will ever be mined, or be existence, is capped at 21 million , of which 17 million are now in existence. 18. The creator(s) of Bitcoin owns around 21 1 million of th...' (self.Bitcoin) by /u/trade_with_darren removed from /r/Bitcoin within 271-281min
The maximum number of bitcoin that will ever be mined, or be existence, is capped at 21 million , of which 17 million are now in existence. 18. The creator(s) of Bitcoin owns around 21 1 million of the total that will ever be in existence. (x-post from /r/Bitcoin)
05-25 21:44 - 'Mining farms will become the first decentralized banks by 2022. 10,000% gains in Bitcoin is imminent. Expect Bitcoin to reach 100 million by 2023. Bitcoins will be tokenized on Stellar when a Satoshi reaches $1. Sta...' (i.redd.it) by /u/tinycoin removed from /r/Bitcoin within 6-16min
07-22 09:24 - 'I think Satoshi made the total supply of Bitcoin, 21 million, by the year 2140 because he needed to mine a million coins to secure the early network and never intends to spend those million coins; THEREFORE, his/he...' (decrypt.co) by /u/KalEll66 removed from /r/Bitcoin within 4-14min
What would happen when all 21 million bitcoins have been mined?
I am trying to understand this field and I thought to myself if there a finite amount of bitcoins, how valuable would then the currency be ? And how would the value then change ? Surely the key towards any cryptocurrency surviving long term is that a very large number of people are using it in the future. If not, then the whole system collapses on itself because there wouldn’t be enough users in the system to keep it afloat. This logically means only a few cryptocurrencies will dominate in the future, maybe even only one. Even if it is bitcoin, if it has to survive long term , wouldn’t it mean that a substantial number of services/businesses would have to trust/use this currency to keep it circulating and thus keep its value? And they would also simultaneously need a large number of people with bitcoin to spend, like a symbiotic relationship. Is that where the inherent risk comes from ? Sorry if the questions sound like rambling’s, it’s because they literally are. I’m just writing down whatever I am thinking. I only read up on this topic today so I had a lot of questions. I don’t understand a lot still, but any help would be appreciated . :)
What Happens to Bitcoin After All 21 Million Are Mined ? What ls the difference with Nano
What Happens to Bitcoin After All 21 Million Are Mined? Nano works with pos and there is no mining needed . So what is the difference between Nano and Btc , Can btc survive without having Mining ⛏ ? What are the advantages of pos against pow ?
When will bitcoin reach 21 million? Guessing when bitcoin reaches its maximum limit can be tricky. But some crypto geeks say that if Bitcoin’s mining power remains the same as when the first block was mined, the last BTC can be mined by October 8, 2140. Digital money that’s instant, private, and free from bank fees. Download our official wallet app and start using Bitcoin today. Read news, start mining, and buy BTC or BCH. This 21 million maximum supply on the number of bitcoins is a commonly cited reason as to why Bitcoin is so valuable. This is due to the fact that when you calculate that there will only be a maximum of number of 21 million bitcoins ever mined, and that there are billions of people on the planet – the cost of each of those bitcoins would have ... The Supply of Bitcoin Is Limited to 21 Million In fact, there are only 21 million bitcoins that can be mined in total. Once miners have unlocked this amount of bitcoins, the supply will be exhausted. Some believe that Bitcoin‘s 21 million limit was arbitrarily set by Nakamoto when he made two key decisions. That Bitcoin should add new blocks to its blockchain every 10 minutes (on average) and that the reward paid to miners halves every 210,000 blocks – roughly every 4 years. The initial reward for miners was 50 Bitcoin for each block mined.
What determines the supply of bitcoin? A probabilistic, geometrically declining supply function meant to simulate the issuance of precious metals. Every ten ... What happens to Bitcoin miners once all 21 million bitcoins have been mined? - Duration: 5:54. ... Noob's Guide To Bitcoin Mining - Super Easy & Simple - Duration: 11:37. UFD Tech 2,432,622 views. It's a well-known fact that bitcoin mining consumes energy. Many people don't realize the global cost to run the Bitcoin network, with electricity costs at m... Bob Becker asks "Is it possible for Bitcoin to ever have its coding change to allow more than 21 million total coins?" Here's my response! FREE CRASH COURSE - Learn to securely buy, store and sell ... What happens to Bitcoin miners once all 21 million bitcoins have been mined? ... 5:54. What happens when the Bitcoin Mining Reward Runs out? - Duration: 4:22. Off Chain with Jimmy Song ...