What will happen when all bitcoins are mined?🤔
Bitcoin miners had extracted 80% of all the bitcoins there will ever be mined. This means only 4.2 million coins, or 20 percent, are left until Bitcoin’s 21 million supply cap is reached.
The self-imposed scarcity of bitcoin is one of the reasons it has become so valuable in recent months and proponents of the flagship cryptocurrency believe that that will help propel it to new heights over the next few years. 📉Once 21 million bitcoins have been mined, it will become even harder to obtain them, also potentially making each coin more valuable.
But it’s not going to happen in the next future. As the difficulty of mining the last coins continues to increase and the rewards, in turn, are reduced, the rate of new coins being created will continue to slow. Although it’s hard to make any concrete estimations on the eventual date of the last bitcoin being mined due to the unpredictable nature of mining hardware development, some estimations put it as far in the future as the year 2140 (❕) — long after all existing investors are gone.
Also, skeptics have proposed that it is theoretically possible to increase Bitcoin’s 21 million capped supply of Bitcoin via a 51 percent or a Sybil attack, but so far neither of these manipulations has proven feasible in the case of BTC.
What are you doing with your bitcoin or other coins today in this market?
are minors really getting less profit now? Im sure the level of difficulty did not rise more higher than the increase in BtC's price.
One more thing to mention, I think btc will continue to reduce in "actual supply", increasingly as btc becomes more expensive. Because, as btc gets more expensive and more difficult it becomes to mine, higher fees will be required. Currently it hovers $20; this means, in many trading accounts that happens to have less than $20 (this happens more than you think) and that trading account's exchange has minimum order amount, that $20 worth of btc is no longer worth trying to obtain it.
It flactuate in profit because of the price. But, last year happened very big boom in crypto mining, especially in bitcoin. If there is increase in how many people are mining there is also an increase in difficulty.
I see. Good thing China is banning their big mining army.
You think that is good? :) I think maybe not. In China there is 70% of every mining farm. What do you think will happen next?
well, it's a good news for you since you are mining btc.
As for btc as a whole, I don't have a clear reasoning why but my gut says something bad is happening to btc... Why throw away a perfecting functioning source of pure GDP producer?? Assuming china is not crazy and are rational to some degree, they must think doing so will be much more profitable. Perhaps they will use all that mining rigs to mine some new coin that is more profitable or promising. idk.
I am not in mining. I don't do that. I read many things about mining but I don't do that. I am investor in buying coins. :)
Ah I see. I am always searching for "the new coin". Stars fall and new ones rise. Ones that shine the brightest will withstand the darkest of the night. That is my stupid advice