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RE: Bitcoin "end game" a mathematical certainty: correcting bad Bitcoin journalism.

in #bitcoin3 years ago

As Bitcoins are limited to a grand total of 21 million Bitcoins, and given that nearly 16.4 million Bitcoins are already mined, this means that if the current mining computational infrastructure keeps pace with the increasing mathematical difficulty for achieving Bitcoin rewards, all Bitcoins will be mined out in about seven years (by roughly 2024).

I thought the estimate was 2140 - I know there is some variation due to the way mining works but unless I'm missing something 7 years does not sound right.

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Thanks for the catch, I was giving Adams some liberty with regard to what he considers "the end of bitcoin mining as we know it". Bitcoin will not be mined out until the 2100s but I took his point as the proportion of the current reward being the problem.

Thanks for the catch. I have edited my wording in the post!

NP. I'm going to be sharing this on twitter but I can't remember if I you are one there - let me know your tag if you are and I will include it in tweet.

Hey thanks a bunch. Funny story actually. I had a twitter, @ky13anderson and had started to get quite active during the election cycle and with crypto in the arena of Bitcoin scaling. If you google @ky13anderson, I think a few tweets from Bobby lee come up - don't think he agreed with me :P.

I had been asking some questions around sensitive topics - nothing against twitter terms of service directly IMO - and using sensitive hashtags like #pizzagate and #johnpodesta. I had my account terminated once but was able to have it reinstated. I tweeted about this BS and my tweet gained serious traction. Poof - no more twitter account.

I am better for it. Breaking out of 140 characters is so freeing.

Steem won't be shutting my account down.

Oh that sucks but I have heard they have a tendency to take action first and ask questions later. No problem. I will share it around and hopefully people will see it.

Thanks a bunch!

Yeah I tried to appeal but it looked to be much more trouble than it is worth.

Hope @zapple will attract some more users like me from twitter. There really is a place for uncensored channels.