CAUTION!! Many scammers are using the comment section to promote their scams and sometimes even use the name “99Bitcoins” in their profile. Never send money to someone you don’t know and don’t accept offers to trade or exchange cryptocurrency from strangers. Stay safe 🙏🏻🙏🏻🙏🏻
5:32 if there is expected to just a limited numbers of Bitcoin in the years to come and cap that amount to prevent inflation, how would that limited amount secure those who will not have Bitcoin if Bitcoin was to be issued in place of the present currency 💵, I hope you understood me
T"he $44,000" of two years ago buys about 20% less today, so Bitcoin at $44,000 today is worth 80% of a bitcoin two years ago. It would have to get to $50,000 to be equivalent. Bitcoin may or may not be inflation immune, but the dollar that it gets quoted in is not immune to inflation. Still a bargain below $45k, Get it while it's hot. If you missed the 2017, 2021 bull run.
Always kept an eye on crypto, hesitated due to its volatility despite being a long-term stock investor. Now that it's mainstream, I want in. How can a beginner navigate the crypto space with all these talks of a retrace? i don't want to buy the top.
You can start by dollar-cost averaging instead of buying a lump sum at once. Also, consult a fiduciary with crypto expertise for informed buying and selling decisions since talks of a bitcoin ETF approval. Time in the market is more valuable than timing it. Using this approach, I grew my crypto holdings from $50k in 2017 to $690k in 2023.
“SONYA LEE MITCHELL” is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
i earn 14btc just trading with him for only just 3month.... I will recommend him to everyone and anywhere because he's 100% legit.. i can share is contact if you want
The halving aspect of the supply has been the #1 reason I believe in BTC as a store of value for years. Very important topic! Thanks for the breakdown.
Don't forget, computer power increases also. So every 4 years makes sense that it's halved. Also the value of a half BitCoin is possibly as much as a full BitCoin was 4 years ago.
How could the transactions take place after 2041 when all the bitcoins have been mined? Because there is no reward in mining bitcoins so no one would be mining at that time so how can we transfer bitcoins then?
What happens after all the btc have been mined and the reward has gone down to zero, what will the incentive be to continue verifying the transactions on the blockchain?
After all the Bitcoin (BTC) have been mined, the incentive for individuals and organizations to continue verifying transactions on the blockchain will come from transaction fees. When the block reward reaches zero, miners will rely on the transaction fees paid by users to cover their costs and generate a profit. These fees are paid by users to have their transactions included in the next block on the blockchain. As long as there is demand for transactions to be processed on the Bitcoin network, there will be an incentive for miners to continue verifying them.
Seems like when all 21 million bitcoins are in use, there will be another crypto currency which will need to be added to the mix. Could be practically the same, maybe Bitcoin 2.
Great and very informative. I like to know how this halving will affect miners. Will Bitcoin be harder to mine after halving? And are all Bitcoins, such as Cash and SV, going to be halved as well when Bitcoin halves?
Sure, miners will still be able to mine, they'll just get half the amount of BTC for doing so. If BTC price doubles, this won't affect their business much... but that's certainly not guaranteed. If price remains stable but miner earnings are halved, then some might go out of business. As for the forkcoins you mention, I believe they will have earlier halvings than Bitcoin. They've moved to their own blockchains with much less mining power and various other quirks, which have lead to an accelerated mining schedule. This may cause them some issues. I believe that BCH is expected to halve a couple of weeks before Bitcoin.
We are only about 50 years into the age of decent computers and the change in computing power has been monumental. By 2140, 10 million BTC will likely have been lost, at least, so the big push will be in hacking those lost blocks (i.e. brute force their private keys), but that will also mean that all keys will be targetable, and with computing power by then using quantum computers likely all asymmetric private keys will be instantly crackable anyway.
in 15 years bitcoin will be much more adopted as a payment option and it is very likely that some other countries may adopt it just like Japan did. in 15 years quantum computers wont be invented and widely used. You people believe that quantum computers will appear so fast just like a new brand of cheese. I bet we wont have quantum computers not even in 200 years. Stop dreaming.
cris33311 impossible, scientist, academia, anyone really, all agree that A.I will be here in at least 50 years, A.I with have the ability to create quantum computing with ease. So 200 years is absolutely ridiculous, laughable!
If BTC functions because people verify the blockchain using their computing power, when there is 0 reward for solving the blockchain problems will the value of BTC fall to zero because no one will do the necessary work to verify each transaction.
Easy question: if i have bitcoin, do I need to sell it before halving, or no? I just dont understand that if I have 1000eur in btc after halving I'll have same +-1000eur or i'll have 500?
@@thomasszary7481 Honestly.. No 😂 or maybe yea.. Sorry I'm new to this and I don't understand everything at once.. Btw English is not my native language, so.. U understand 😉
No, you don't. The amount of your Bitcoin funds will not be altered in any way by the halving. It's more likely that the Euro value of your BTC will increase as a result of the halvings than decrease, although of course many more factors are at play in the market so this outcome cannot be guaranteed.
What happens with BTC when we reach 2140 and there wont be anything left to mine? How will transactions be able to happen then if theres no processing power behind it?
i earn 14btc just trading with him for only just 3month.... I will recommend him to everyone and anywhere because he's 100% legit.. i can share is contact if you want
What will happen if the reward is cut by 1/4 every 210,000 blocks? will there be a change in number of bitcoin, the value of bitcoin will be super low by 2140, what will happen?
The value of Bitcoin is crucial, as this virtual currency reacts to rises and falls in the market even quicker than gold and silver. Nevertheless, only bitcoin holders suffers its crucial state. I myself trade bitcoin for profits.
Ok so i have a simple question, if 1800 bitcoins are mined everyday at present and let’s say a hedge fund wants to buy lets say 15000 bitcoins, where does he gets his remaining bitcoin from, how is his demand fulfilled? How come millions of bitcoins are traded everyday while only few thousand are mined? What if the demand increases and prices increases as well will all the bitcoins be mined or halved before 2140 or does it have to follow that halving schedule of every 4 years? Can all the 21 million bitcoins be mined before 2140 if they miners are incentivized? Can someone bribe miners to mine more bitcoins? Let’s say if everyone buys and starts holding bitcoin, how will that affect mining and halving? Please answer it, i am very curious and eagerly waiting for your reply.
dipesh shah you have a lot of questions. You should do some research. But mining is done with computer power. So people can only mine so much. Not sure anyone knows what happens when can’t mine anymore. But to transact bitcoin it cost bitcoin. So I’d assume if you want to send someone 1 bitcoin it will cost something and be given to the “miners” ( you should look up how bitcoin mining is done). And if someone wants to buy bitcoin they don’t buy from miners ( although they can). They typically buy from exchanges therefore however much is available to buy they can buy. But the more they buy the higher the price if bought all at once. You can only buy what is available to buy at the price you wish to buy it at.
Dipesh, keep in mind that there are already something like $17,000,000 bitcoin that are in circulation. So, the bitcoin that is being trading was mined in the past. You should read more about bitcoin mining to understand the rewards for miners.
And what will happen after the total amount of Bitcoin has been mined in 2140? The purpose of halving is no longer required, or then inflation is welcomed?
With any luck, the system will continue to function as before, with miners rewarded for their work via mining fees on transactions exclusively. Inflation will certainly not be welcomed in Bitcoin, and indeed after no more BTC is issued from mining there will be no possible mechanism of inflation.
Hello, Satoshi Nakamoto chose 21 million Bitcoins to be the highest figure that Bitcoins would ever reach in order to counter inflation. According to him, the figure was just an educated guess. I hope this helps.
Wait, aren't there hundreds of thousands of blocks in all these blockchains, one for every transaction, how then can mining a block yield such high numbers of bitcoin? What is it I don't understand here...
Hello - Thank you for your question. Bitcoin was modelled after gold. Gold is in the earth, and has to be mined. Similarly, all the 21 million Bitcoins were locked into the Bitcoin protocol using code. This code allows a few coins to be 'mined' and released into the circulation several times every hour. This way, in the end - after all the coins have been mined, there will be 21 million coins in circulation. I hope this helps
Every transaction has a small fee associated although I'm not sure , somone Please correct me if I'm wrong. I assume once all BTC has been distributed miners will still be needed to assist transactions and they will receive a portion of this fee for each transaction.
so if you need miners in order to complete transactions, whats going to happen in 2140 when there will be no more miners because it's been all mined? how will the transactions go through?
It's unlikely we'll still be using it by then, but if we are, there's no telling. Too many variables. Theoretically if demand grows at the same rate, then deflation would occur once we run out of new supply; smaller and smaller fractions of a bitcoin would be worth more and more. What costs 1/20th a bit coin in 2140 could be 1/80th a bitcoin in 2160. Or maybe general inflation (such as a preference for other currencies) will make bitcoin not as valuable by then.
The assumption is that miners will be incentivized to continue mining due to transaction fees. While they'll no longer receive the block rewards, they'll still earn fees from every non-free transaction which they include in their blocks. There have already been blocks which have paid out more in fees than block rewards, so as more halvings occur the earnings of miners will shift ever more towards fees over block rewards.
Okay, I'm new to all this. Is it like stocks splitting? So if I buy a Bitcoin, would it become 2 coins? or 1/2? or is it still just one? Or is the benefit only to the miners?
You perfectly right and I truly understand your opinion but I will tell you mining is the best when you have your btc for investment and I guarantee you on the page on IG @themoon_carl or mail themooncarlxxchange@gmail.com
No, it is not like stock splitting. If you buy one bitcoin now and continue to hold it, you still have one bitcoin. Halving just means the rate of new coins being created is reduced.
What happens when all the 21 million Bitcoins are mined? How will the ledger be updated as there will be no reward for new miners as Bitcoins are finished
Hey kamal, Bitcoin is the first and most widely recognized decentralized cryptocurrency, created in 2009. Venuscoin/Venuscrypto is a newer cryptocurrency that aims to offer a more privacy-focused solution to the users compared to Bitcoin. The exact differences between these two cryptocurrencies may vary, but some key differences include privacy features, consensus mechanism, and overall goals and usage.
As observerd lately,interest of making a fortune from crypto currency keeps growing but a lot of people seem to delve in without a properly laid strategy,which is important irrespective of your hodling or trading route
Yes off course in bitcoin investment suitable risk management is aimed at reducing the loss thereby giving a better chance for you to win your trades and ensure a good ROI
@@tombilyeu4455 bitcoin investment is just like every other form of investment where you trade to determine which gains or losses ,just like in forex trading
Of course without mining there is no bitcoin transaction. The "mining" is actually the verification and the inscription of the transaction on the blockchain. Well simply explained.
Actually no. There will then be a change in the system and then the miner will be reward for confirming and writing transaction. I'm personnally not so well informed myself of how that's gonna work out. Are the transaction fees of bitcoin gonna be higher? Most likely I think. But miners are the bitcoins in some way. If they stop existing so does the bitcoin.
BTC will become exponentially more valuable. Metcalfe's equation is N squared where N is the number of nodes/users on the blockchain using BTC. When/if the world fully adopts BTC, they will be worth a fortune.
@@Monoshisan also they can exist on transaction fees if widely used for purchasing goods/services -Till this day it's scarcely used for such transactions. Not good.
Is there any website I can subscribe so I can get the prediction price of the crypto? Because everytime I sell the coin I see price going up :( and when I buy then price go down :( I am not trading with right prediction. Can you please help me?
and why exactly would someone run a mining machine after the next halving? Machines are shutting down already and the Power requirements will not change but double? In fact more than double per 1.0 BTC earned right?
Power requirements won't double due to the halving, but mining rewards will halve. Due to decreased supply of new coins, and assuming demand remains constant, price will rise to compensate for the halving effect. So long as price rises sufficiently, it will remain profitable to mine BTC.
@@99Bitcoins Assuming assuming assuming, IF, IF IF ...IFall the ifs and butts were candies and nuts we'ld all have a very Merry Christmas. I predict this Christmas like 2017's will be the reverse for BTC/bitcoin, due to corruption manifested by the uncontrolled/unregulated Whales. Sorry but a dark market like BTC and all the alts is just TOO DARK. A lot of people are going to get hurt, BADLY!
@@HybridGlobalCitizen people have been saying that since 2011 when they started on exchanges, and people will continue to say it as they constantly look like fools throughout the years. don't be on the wrong side of technology...it doesn't end well for those mindsets.
@@sykal Well :) enjoy your greater fool moment then :) I wonder how all those Fools feel now who bought BTC at over $15K in 2017-18 ... but oooohhhh noooooo it is going to ONE MILLION DOLLARS LOL Good luck with that one ... I mean really though, hype can drive it to over $10K but who is going to be stupid enough to buy it over $10K or even $9K ... seriously?! At least with Tulips you could plant one and get a pretty but expensive flower after. Also look at some of the dim wits hyping this BTC SH_T ... Would you buy anything off of them? ... as for the Banksters, YA they are crooks, but the sweet unregulated BTC hypers/dealers/exchanges are not? Bitcoin in its purest form may be just wornderful, but the nature of the beast makes it a very DARK, DANGEROUS and CORRUPT MARKET... PERIOD END == OF GAME .... NOW ... GIVE YOUR HEAD A SHAKE...
It's no suprise that bitcoin a secure global digital currency has claimed the interest of investors it is open to everyone and provides an exciting oppurtunity to delve into an entirely new asset class
yes, this info is not told to everyone, but I rly need to know yar view on Synthesis Bank products. I heard that they have the most stable token, $STB, with a guaranteed monthly reward for its investors. Do ya think I have a opportunity to earn some money?
Fraser is a full time wall Street trader that manages crypto trading accounts offering investors with minimal trading knowledge to earn money without risking their investment.
If 21 million BTC is finite limit, how many BTC coins are in circulation right now? Is there a graph showing the increase over time? Is the Halving event when more coins are put into circulation? If yes, did the number of coins just double?
Peter, there are almost 18.4 million bitcoins mined so far out of the total 21 million. Yes, just google for charts. No, the halving means the rate of new coins being mined is cut in half (now we are seeing only 900 bitcoins mined each day).
Right now there are about 18.38 million BTC in existence. You can see a chart of Bitcoin issuance over here: www.blockchain.com/charts/total-bitcoins?timespan=all If you zoom in to a shorter timeframe, say 30 days, you'll see that the rate of increase has flattened recently. This is because the halving decreased the amount of new coins entering circulation by half. In other words, each time a miner solves a new block, they earn half the reward in BTC which they earned before the halving event.
So the halving is in may right. Bit coin is currently at 6.6k right. So should i wait to buy a btc or do i buy one after the halve? I’m still kinda confused can someone explain please
Great video as always! 👍 Need some advice: 🙏 I found these words 😅. (behave today finger ski upon boy assault summer exhaust beauty stereo over). Can someone explain what this is? 😅
The price may be factored in, if we consider that it doubled from the start of 2019. However, the halving acts as a major supply constraint too so I wouldn't expect any selling on "the news" to be too vicious. If you check out the pattern of previous halvings, they tend to cause a slow runup about a year in advance, which we're not really seeing this time. It's hard to say what will happen really, that's why trading is such a tough job.
What happens if the mining isn't worth it anymore and everyone turns off their mining rigs. Like in 2140 when they arent getting paid Amy more. There is no way to verify transactions. So how can anyone send money back and forth? Bitcoin will be useless right?
Hey Respond code3, When the mining rewards (i.e. the new bitcoins being created) reach their maximum limit and are no longer paid out to miners, it is expected that transaction fees will become the primary incentive for miners to continue verifying transactions on the Bitcoin network. As long as there are transactions taking place on the network, there will be a need for miners to process and validate them in order for the network to remain secure. As long as the transaction fee is high enough to cover the costs of mining, miners will continue to participate in the network, and the network will continue to function.
My doubt is, For eg. If in today's date there is 5000 bitcoin mined. Is there any bitcoin remained which is not bought by anyone. If no one had bought it where is it held . I know it's a stupid question but then also solve my curiosity.😅😰🤔😂
CAUTION!! Many scammers are using the comment section to promote their scams and sometimes even use the name “99Bitcoins” in their profile. Never send money to someone you don’t know and don’t accept offers to trade or exchange cryptocurrency from strangers.
Stay safe 🙏🏻🙏🏻🙏🏻
5:32 if there is expected to just a limited numbers of Bitcoin in the years to come and cap that amount to prevent inflation, how would that limited amount secure those who will not have Bitcoin if Bitcoin was to be issued in place of the present currency 💵,
I hope you understood me
T"he $44,000" of two years ago buys about 20% less today, so Bitcoin at $44,000 today is worth 80% of a bitcoin two years ago. It would have to get to $50,000 to be equivalent. Bitcoin may or may not be inflation immune, but the dollar that it gets quoted in is not immune to inflation. Still a bargain below $45k, Get it while it's hot. If you missed the 2017, 2021 bull run.
Always kept an eye on crypto, hesitated due to its volatility despite being a long-term stock investor. Now that it's mainstream, I want in. How can a beginner navigate the crypto space with all these talks of a retrace? i don't want to buy the top.
You can start by dollar-cost averaging instead of buying a lump sum at once. Also, consult a fiduciary with crypto expertise for informed buying and selling decisions since talks of a bitcoin ETF approval. Time in the market is more valuable than timing it. Using this approach, I grew my crypto holdings from $50k in 2017 to $690k in 2023.
That does make a lot of sense, unlike us, you seem to have the Market figured out. Who is this fiduciary??
“SONYA LEE MITCHELL” is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
Who is here in anticipation for May 2020 halving?
I
🙋🏾♂️
🐣
I
I
First time I finally understand what the halving means and why it's important. Clear, concise and easy to understand video. Thank you.
i earn 14btc just trading with him for only just 3month.... I will recommend him to everyone and anywhere because he's 100% legit.. i can share is contact if you want
Who is here in anticipation of the 2024 halving?
I’m here in anticipation of Bitcoin Halving 2024 😌
Me too!
I feel smarter after listening to you! thanks for the video!
VIDEO STARTS 3:30
thanks!
@Stealth Wealth Investing no
Dear 99bitcoins, thank you for your clarity, transparency, and joyful personality :)
"Can you tell me like I'm a 5 year old " - Michael Scott
I bought my first in 2013 btc , every year its worth more and more..
You rich
i bought in 2017, every year its worst then more worst then more...i feel like im scammed
I'd like to buy yours
@@0xm2j how much it was back then when u brought?
@@0xm2j how bout now
nice video. many people will understand why btc is going up after watching this.
The halving aspect of the supply has been the #1 reason I believe in BTC as a store of value for years. Very important topic! Thanks for the breakdown.
man just go to the point.
Don't forget, computer power increases also. So every 4 years makes sense that it's halved. Also the value of a half BitCoin is possibly as much as a full BitCoin was 4 years ago.
It is insane how genius Satoshi was
Almost too good to be true... like there's a catch
I think Satoshi was a group of experts in IT and finance. Damn they carefully thought everything to detail and future proofed bitcoin
Very good explanation... thank you so much ! 😎
Next up is the 2024 halving! Keep stacking and hodling BTC! Let's gooo!
This dude has the biggest hands in crypto
Thank you for the insight ❤️🇺🇸
Some idiot told me bitcoins run out in 2040 , thanks for this. Now it makes sense
2140
it doesnt seem that halving keeps inflation in check in fact it seems to do just the opposite
Your opinion is it can go up or down thanks
Great explanation
Thanks
The 90s called...it wants its expository Bitcoin video back. ( I still upvoted ;0 )
Thank you very much for your sharing.
I will have Bitcoin now
mikehoang31 have that bitcoin?
awesome video! Thank you!
thank u for the informative video
If I own bitcoin mining companies like Mara or riot should I sell them before the 2024 halving since they will be making less per block?
Yes. The price will be halving as well
No probably not.
This didn’t age well
What happens if technology advances so fast that bitcoin mining becomes easy ?
@An Onymous yeah good answer
@An Onymous True!
unless you are the only person in the world that has that sort of technology, it would we equally as hard because of the difficulty
How could the transactions take place after 2041 when all the bitcoins have been mined? Because there is no reward in mining bitcoins so no one would be mining at that time so how can we transfer bitcoins then?
What happens after all the btc have been mined and the reward has gone down to zero, what will the incentive be to continue verifying the transactions on the blockchain?
Fees I guess
fees in Satoshis (units that make a Bitcoin) it's a genius seem less system
After all the Bitcoin (BTC) have been mined, the incentive for individuals and organizations to continue verifying transactions on the blockchain will come from transaction fees. When the block reward reaches zero, miners will rely on the transaction fees paid by users to cover their costs and generate a profit. These fees are paid by users to have their transactions included in the next block on the blockchain. As long as there is demand for transactions to be processed on the Bitcoin network, there will be an incentive for miners to continue verifying them.
Good info and Great contextual framing! Ty
Thanks dude
Seems like when all 21 million bitcoins are in use, there will be another crypto currency which will need to be added to the mix. Could be practically the same, maybe Bitcoin 2.
Great and very informative. I like to know how this halving will affect miners. Will Bitcoin be harder to mine after halving? And are all Bitcoins, such as Cash and SV, going to be halved as well when Bitcoin halves?
Sure, miners will still be able to mine, they'll just get half the amount of BTC for doing so. If BTC price doubles, this won't affect their business much... but that's certainly not guaranteed. If price remains stable but miner earnings are halved, then some might go out of business.
As for the forkcoins you mention, I believe they will have earlier halvings than Bitcoin. They've moved to their own blockchains with much less mining power and various other quirks, which have lead to an accelerated mining schedule. This may cause them some issues. I believe that BCH is expected to halve a couple of weeks before Bitcoin.
The movement of the hand is no distracting, always same position, always same shape of what ever.
great video
We are only about 50 years into the age of decent computers and the change in computing power has been monumental. By 2140, 10 million BTC will likely have been lost, at least, so the big push will be in hacking those lost blocks (i.e. brute force their private keys), but that will also mean that all keys will be targetable, and with computing power by then using quantum computers likely all asymmetric private keys will be instantly crackable anyway.
But the same computing power for breaking be avaible to encrypt, we can fight quantum with quantum.
Soooo won’t quantum computing that will be available in 15 years make bitcoin irrelevant??
in 15 years bitcoin will be much more adopted as a payment option and it is very likely that some other countries may adopt it just like Japan did.
in 15 years quantum computers wont be invented and widely used.
You people believe that quantum computers will appear so fast just like a new brand of cheese.
I bet we wont have quantum computers not even in 200 years. Stop dreaming.
cris33311 impossible, scientist, academia, anyone really, all agree that A.I will be here in at least 50 years, A.I with have the ability to create quantum computing with ease. So 200 years is absolutely ridiculous, laughable!
Thank you!
This is one of the best crypto-explanation videos on the internet!
The Legend Nate Martin
If BTC functions because people verify the blockchain using their computing power, when there is 0 reward for solving the blockchain problems will the value of BTC fall to zero because no one will do the necessary work to verify each transaction.
Easy question: if i have bitcoin, do I need to sell it before halving, or no? I just dont understand that if I have 1000eur in btc after halving I'll have same +-1000eur or i'll have 500?
Halving is about the miners reward.. their reward will be cut in half... btc price is about supply and demand
@@rin360lew4 So i can hold it and it will be okay yea?
Didn't really answer your question did he? Lol.
@@thomasszary7481 Honestly.. No 😂 or maybe yea.. Sorry I'm new to this and I don't understand everything at once.. Btw English is not my native language, so.. U understand 😉
No, you don't. The amount of your Bitcoin funds will not be altered in any way by the halving. It's more likely that the Euro value of your BTC will increase as a result of the halvings than decrease, although of course many more factors are at play in the market so this outcome cannot be guaranteed.
Does that mean that bitcoin 's price should go up in 2023?
Good stuff
How were 200,000 blocks mined in 3 years from 2009 to 2012 when bitcoin was less popular but took 4 years when it became a extremely popular?
It gets harder to mine
Between 2009 and 2011 you could mine BTC with even a basic laptop. Now, veritable supercomputers / super-chips are required.
@@peterkerin7384 don't need a supercomputer, you can mine Bitcoin with a raspberry pi 4
Did u not watch the video and learn about the halving events?
@@13mileon he meant to actually get good rewards vs other miners
I wish to have a tiny bit of bitcoin
Thank You 🙏✌️
What happens with BTC when we reach 2140 and there wont be anything left to mine? How will transactions be able to happen then if theres no processing power behind it?
i earn 14btc just trading with him for only just 3month.... I will recommend him to everyone and anywhere because he's 100% legit.. i can share is contact if you want
Who cares we will all be dead
thank you
Why only 21 million Bitcoins? Why not 50 million or 38 million or any other number? Is there a rational behind this number of 21 million?
What will happen if the reward is cut by 1/4 every 210,000 blocks? will there be a change in number of bitcoin, the value of bitcoin will be super low by 2140, what will happen?
This is really good to be true I never expected my bitcoin withdrawal from luiz today.
Whos watching this minutes before the halving lool
What happened to Bitcoin’s value in the UK when they made it treason to trade in cryptos?
The value of Bitcoin is crucial, as this virtual currency reacts to rises and falls in the market even quicker than gold and silver. Nevertheless, only bitcoin holders suffers its crucial state. I myself trade bitcoin for profits.
Ok so i have a simple question, if 1800 bitcoins are mined everyday at present and let’s say a hedge fund wants to buy lets say 15000 bitcoins, where does he gets his remaining bitcoin from, how is his demand fulfilled? How come millions of bitcoins are traded everyday while only few thousand are mined? What if the demand increases and prices increases as well will all the bitcoins be mined or halved before 2140 or does it have to follow that halving schedule of every 4 years? Can all the 21 million bitcoins be mined before 2140 if they miners are incentivized? Can someone bribe miners to mine more bitcoins? Let’s say if everyone buys and starts holding bitcoin, how will that affect mining and halving? Please answer it, i am very curious and eagerly waiting for your reply.
dipesh shah you have a lot of questions. You should do some research. But mining is done with computer power. So people can only mine so much. Not sure anyone knows what happens when can’t mine anymore. But to transact bitcoin it cost bitcoin. So I’d assume if you want to send someone 1 bitcoin it will cost something and be given to the “miners” ( you should look up how bitcoin mining is done). And if someone wants to buy bitcoin they don’t buy from miners ( although they can). They typically buy from exchanges therefore however much is available to buy they can buy. But the more they buy the higher the price if bought all at once. You can only buy what is available to buy at the price you wish to buy it at.
Dipesh, keep in mind that there are already something like $17,000,000 bitcoin that are in circulation. So, the bitcoin that is being trading was mined in the past. You should read more about bitcoin mining to understand the rewards for miners.
will you do a video on crypto winteR?
Hello,
Thank you for your suggestion. We have noted it for future consideration!
@@99Bitcoins Pleaase wear a coat during the video =)
And what will happen after the total amount of Bitcoin has been mined in 2140? The purpose of halving is no longer required, or then inflation is welcomed?
You are right, no more halvings, but mining will continue, the miners Will be earning for transaction fees.
With any luck, the system will continue to function as before, with miners rewarded for their work via mining fees on transactions exclusively.
Inflation will certainly not be welcomed in Bitcoin, and indeed after no more BTC is issued from mining there will be no possible mechanism of inflation.
Gracias
¡De nada!
Why 21M BTC? Why not 20? Why not 30? Etc. Any theory/explanation as to why 21M?
Hello,
Satoshi Nakamoto chose 21 million Bitcoins to be the highest figure that Bitcoins would ever reach in order to counter inflation. According to him, the figure was just an educated guess. I hope this helps.
So from what I can tell the halving either does nothing to the price or the price increases?
Wait, aren't there hundreds of thousands of blocks in all these blockchains, one for every transaction, how then can mining a block yield such high numbers of bitcoin? What is it I don't understand here...
Question.. if Bitcoin has a finite amount and miners are being rewarded it up until 21m, how much was originally distributed?
Hello -
Thank you for your question. Bitcoin was modelled after gold. Gold is in the earth, and has to be mined. Similarly, all the 21 million Bitcoins were locked into the Bitcoin protocol using code. This code allows a few coins to be 'mined' and released into the circulation several times every hour. This way, in the end - after all the coins have been mined, there will be 21 million coins in circulation.
I hope this helps
typo at the halving estimates, the 2024 block is 810k not 710k otherwise good stuff!
How much can the grow be on the new ath in 2024-25?
So then what happens after all the bitcoins have been mined what incentive is there to continue making blocks?
West_hacker00 on IG helped me got $12,000 bitcoin to my wallet his a great miner. Thanks
Every transaction has a small fee associated although I'm not sure , somone Please correct me if I'm wrong. I assume once all BTC has been distributed miners will still be needed to assist transactions and they will receive a portion of this fee for each transaction.
so if you need miners in order to complete transactions, whats going to happen in 2140 when there will be no more miners because it's been all mined? how will the transactions go through?
It's unlikely we'll still be using it by then, but if we are, there's no telling. Too many variables. Theoretically if demand grows at the same rate, then deflation would occur once we run out of new supply; smaller and smaller fractions of a bitcoin would be worth more and more. What costs 1/20th a bit coin in 2140 could be 1/80th a bitcoin in 2160. Or maybe general inflation (such as a preference for other currencies) will make bitcoin not as valuable by then.
The assumption is that miners will be incentivized to continue mining due to transaction fees. While they'll no longer receive the block rewards, they'll still earn fees from every non-free transaction which they include in their blocks. There have already been blocks which have paid out more in fees than block rewards, so as more halvings occur the earnings of miners will shift ever more towards fees over block rewards.
Okay, I'm new to all this. Is it like stocks splitting? So if I buy a Bitcoin, would it become 2 coins? or 1/2? or is it still just one? Or is the benefit only to the miners?
You perfectly right and I truly understand your opinion but I will tell you mining is the best when you have your btc for investment and I guarantee you on the page on IG @themoon_carl or mail themooncarlxxchange@gmail.com
No, it is not like stock splitting. If you buy one bitcoin now and continue to hold it, you still have one bitcoin. Halving just means the rate of new coins being created is reduced.
What happens when all the 21 million Bitcoins are mined? How will the ledger be updated as there will be no reward for new miners as Bitcoins are finished
what diffrent bitcoin and venuscoin/venuscrypto?
Hey kamal,
Bitcoin is the first and most widely recognized decentralized cryptocurrency, created in 2009. Venuscoin/Venuscrypto is a newer cryptocurrency that aims to offer a more privacy-focused solution to the users compared to Bitcoin. The exact differences between these two cryptocurrencies may vary, but some key differences include privacy features, consensus mechanism, and overall goals and usage.
5thScape is on thin ice, one more bad update and it's off my radar 😬🚩
As observerd lately,interest of making a fortune from crypto currency keeps growing but a lot of people seem to delve in without a properly laid strategy,which is important irrespective of your hodling or trading route
Yes off course in bitcoin investment suitable risk management is aimed at reducing the loss thereby giving a better chance for you to win your trades and ensure a good ROI
I agree on your opinion , generally i always look out for it to drop so i can purchase more,i believe it has come to stay.
Please What's really the idea behind this Bitcoin investment? Because all I do is buy when it falls and sell when it goes high
@@tombilyeu4455 bitcoin investment is just like every other form of investment where you trade to determine which gains or losses ,just like in forex trading
@@beawakened7326 you sound like a professional
can BTC function without mining? in order to validate a transaction P2P is mining needed? what happens when all BTC are mined?
Of course without mining there is no bitcoin transaction. The "mining" is actually the verification and the inscription of the transaction on the blockchain. Well simply explained.
@@Monoshisan so when all the btc are mined why would the miners keep running their machines for 0 profits?
Actually no. There will then be a change in the system and then the miner will be reward for confirming and writing transaction. I'm personnally not so well informed myself of how that's gonna work out. Are the transaction fees of bitcoin gonna be higher? Most likely I think. But miners are the bitcoins in some way. If they stop existing so does the bitcoin.
BTC will become exponentially more valuable. Metcalfe's equation is N squared where N is the number of nodes/users on the blockchain using BTC. When/if the world fully adopts BTC, they will be worth a fortune.
@@Monoshisan also they can exist on transaction fees if widely used for purchasing goods/services -Till this day it's scarcely used for such transactions. Not good.
Is there any website I can subscribe so I can get the prediction price of the crypto? Because everytime I sell the coin I see price going up :( and when I buy then price go down :( I am not trading with right prediction. Can you please help me?
I will lead you through with something good💯
They cut the hash rate of the mining in half and it affects how many can be mined and then it I guess takes 2x as much work to mine 1 btc?
I don't know about 2009, I first hear of bitcoin in late 2007
Lol
maybe put THE money in MINERS ?
I have a mate called Martin Nick lol
and why exactly would someone run a mining machine after the next halving? Machines are shutting down already and the Power requirements will not change but double? In fact more than double per 1.0 BTC earned right?
Power requirements won't double due to the halving, but mining rewards will halve. Due to decreased supply of new coins, and assuming demand remains constant, price will rise to compensate for the halving effect. So long as price rises sufficiently, it will remain profitable to mine BTC.
@@99Bitcoins Assuming assuming assuming, IF, IF IF ...IFall the ifs and butts were candies and nuts we'ld all have a very Merry Christmas. I predict this Christmas like 2017's will be the reverse for BTC/bitcoin, due to corruption manifested by the uncontrolled/unregulated Whales. Sorry but a dark market like BTC and all the alts is just TOO DARK. A lot of people are going to get hurt, BADLY!
@@HybridGlobalCitizen people have been saying that since 2011 when they started on exchanges, and people will continue to say it as they constantly look like fools throughout the years. don't be on the wrong side of technology...it doesn't end well for those mindsets.
@@sykal Well :) enjoy your greater fool moment then :) I wonder how all those Fools feel now who bought BTC at over $15K in 2017-18 ... but oooohhhh noooooo it is going to ONE MILLION DOLLARS LOL Good luck with that one ... I mean really though, hype can drive it to over $10K but who is going to be stupid enough to buy it over $10K or even $9K ... seriously?! At least with Tulips you could plant one and get a pretty but expensive flower after. Also look at some of the dim wits hyping this BTC SH_T ... Would you buy anything off of them? ... as for the Banksters, YA they are crooks, but the sweet unregulated BTC hypers/dealers/exchanges are not? Bitcoin in its purest form may be just wornderful, but the nature of the beast makes it a very DARK, DANGEROUS and CORRUPT MARKET... PERIOD END == OF GAME .... NOW ... GIVE YOUR HEAD A SHAKE...
@@dmr7 NOPE all yours, the Crypto Crash begins, check this ruclips.net/video/8YaLNxXwwMo/видео.html
Bitcoin is the future investing it should be wisest thing to do now
Very well explained ..
It's no suprise that bitcoin a secure global digital currency has claimed the interest of investors it is open to everyone and provides an exciting oppurtunity to delve into an entirely new asset class
yes, this info is not told to everyone, but I rly need to know yar view on Synthesis Bank products. I heard that they have the most stable token, $STB, with a guaranteed monthly reward for its investors. Do ya think I have a opportunity to earn some money?
Satoshi Nakamoto or do you mean Hal Finney.
why this has so strong 2000 vibes?
Because bitcoin was designed and released from 2005 - 2009.
What happens when there are no more bitcoin to be mined
The price could be infinite
Bitcoin continues working. The miners will continue mining to earn all the blockchain transaction fees.
This was a very good explanation!
I will buy bitcoin at these levels as long as my budget allows. my BTC ownership goal has now increased, thanks to this false flag pandemic gift
I do hope your budget allows you own a couple bitcoin while the price keeps falling
but then, we all saw the quick gainers leave at the $4800 level and all the hodlers like me who never sell
There's no investment now worth sitting at home and trading prices, especially crypto..
sounds intriguing, I mean i trade crypto for a while too but I don't make up to that weekly btw. who is Stewrat trader, and what's his gain?
Fraser is a full time wall Street trader that manages crypto trading accounts offering investors with minimal trading knowledge to earn money without risking their investment.
If 21 million BTC is finite limit, how many BTC coins are in circulation right now? Is there a graph showing the increase over time? Is the Halving event when more coins are put into circulation? If yes, did the number of coins just double?
Peter, there are almost 18.4 million bitcoins mined so far out of the total 21 million. Yes, just google for charts. No, the halving means the rate of new coins being mined is cut in half (now we are seeing only 900 bitcoins mined each day).
Right now there are about 18.38 million BTC in existence.
You can see a chart of Bitcoin issuance over here:
www.blockchain.com/charts/total-bitcoins?timespan=all
If you zoom in to a shorter timeframe, say 30 days, you'll see that the rate of increase has flattened recently.
This is because the halving decreased the amount of new coins entering circulation by half.
In other words, each time a miner solves a new block, they earn half the reward in BTC which they earned before the halving event.
So the halving is in may right. Bit coin is currently at 6.6k right. So should i wait to buy a btc or do i buy one after the halve? I’m still kinda confused can someone explain please
No one really knows what the price will be.
Imagine getting $600 bitcoin in 2016😭
Great video as always! 👍 Need some advice: 🙏 I found these words 😅. (behave today finger ski upon boy assault summer exhaust beauty stereo over). Can someone explain what this is? 😅
Does it makes any difference having bitcoin in an exchange or your personal wallet the day of the halving?
No it doesn't. Your funds will stay exactly the same, only the rewards earned by miners for mining a new block will be reduced by 50%.
If everyone knows that the halving is coming shouldn't the new price be factored in already? Does buy the rumour sell the news not apply to bitcoin?
The price may be factored in, if we consider that it doubled from the start of 2019. However, the halving acts as a major supply constraint too so I wouldn't expect any selling on "the news" to be too vicious. If you check out the pattern of previous halvings, they tend to cause a slow runup about a year in advance, which we're not really seeing this time. It's hard to say what will happen really, that's why trading is such a tough job.
What happens if the mining isn't worth it anymore and everyone turns off their mining rigs. Like in 2140 when they arent getting paid Amy more. There is no way to verify transactions. So how can anyone send money back and forth? Bitcoin will be useless right?
Hey Respond code3,
When the mining rewards (i.e. the new bitcoins being created) reach their maximum limit and are no longer paid out to miners, it is expected that transaction fees will become the primary incentive for miners to continue verifying transactions on the Bitcoin network. As long as there are transactions taking place on the network, there will be a need for miners to process and validate them in order for the network to remain secure. As long as the transaction fee is high enough to cover the costs of mining, miners will continue to participate in the network, and the network will continue to function.
My doubt is, For eg. If in today's date there is 5000 bitcoin mined. Is there any bitcoin remained which is not bought by anyone. If no one had bought it where is it held .
I know it's a stupid question but then also solve my curiosity.😅😰🤔😂
how much bitcoin do you think this guy has?