Will BITCOIN Collapse At The 21 Million Limit?? What's Next?
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- Опубликовано: 1 июн 2024
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Calculating When The Last Bitcoin Will Be Mined 👉 • When will ALL bitcoins...
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- TIMESTAMPS -
0:00 Intro
2:26 Bitcoin Mining Recap
5:07 When Will The Last Bitcoin Be Mined?
6:00 What Happens When The Last is Mined?
7:40 Solution: Layer 2s?
9:05 Solution: Electricity And Tech?
10:30 Solution: Skin In The Game?
12:09 Solution: Smart Contract Chains?
14:06 Maximum Supply Be Changed?
15:55 Conclusion
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⛓️ 🔗 Useful Links 🔗 ⛓️
► Why Bitcoin’s Maximum Supply Is 21 Million: decrypt.co/34876/why-is-bitco...
► Bitcoin Halving History And Schedule: www.cmcmarkets.com/en/learn-c...
► Bitcoin Lightning Network Explained: www.coinbureau.com/blockchain...
► Green Energy Cryptocurrency Mining: www.easycryptohunter.co.uk/mo...
► Miami Mayor Considers Bitcoin Reserves: news.bitcoin.com/mayor-miami-...
► Bitcoin On Polkadot: polkadot.network/bitcoin-is-c...
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⛏Bitcoin Mining Recap⛏
New BTC are issued every time a new Bitcoin block is mined. The Bitcoin code ensures this happens roughly every 10 minutes by adjusting the mining difficulty depending on how many miners there are
The maximum amount of BTC that can ever be mined is 21 million, and this limit is built into Bitcoin’s code
⏲When Will The Last Bitcoin Be Mined?⏲
While each Bitcoin halving is supposed to occur 4 years apart, the last three halvings have occurred just 3 years and 9 months apart. Assuming this trend continues, the last Bitcoin will be mined near the end of 2078, much sooner than the 2140 figure that is often cited
👀What Happens When The Last Bitcoin Is Mined?👀
Besides the BTC miners get from each new Bitcoin block, they also earn fees as compensation for processing transactions. Many people believe that by the time the BTC mining rewards run out, these transaction fees will be enough to sustain the Bitcoin network
💱Solution: Layer 2s?💱
The problem with layer 2 solutions like the Lightning Network is that they reduce the number of transactions that actually occur on the Bitcoin blockchain
Fewer transactions mean that the fees for opening and closing these payment channels would have to be incredibly high for Bitcoin miners to remain profitable and operational
These high fees would then put pressure on layer 2s like the Lightning Network to minimize the opening and closing of their payment channels, resulting in a vicious cycle that threatens the network
⚡Solution: Electricity And Tech? ⚡
Cheap energy and efficient hardware would make it easy for Bitcoin miners to stay profitable using transaction fees alone, and it would even further decentralize Bitcoin as new miners join the network to get a share of those fees
💰Solution: Skin In The Game? 💰
If and when cities, states, and even governments begin holding BTC as part of their reserves, they will have all the incentive in the world to make sure the Bitcoin network remains secure and operational
If enough private companies start to hold large amounts of BTC, they too would have a reason to rush in and make sure the Bitcoin network remains operational
⛓Solution: Smart Contract Chains? ⛓
Given the rise in wrapped Bitcoin on Ethereum, it is possible if not likely that smart contract blockchains could become the future home for all the Bitcoin in circulation. Cardano and Polkadot will soon be introducing tokenized versions of Bitcoin to their blockchains as well
👩💻Can Bitcoin’s Maximum Supply Be Changed?👩💻
Changing Bitcoin’s maximum supply is possible so long as there is consensus from the QUOTE ‘economic majority’
This includes not just Bitcoin miners, but Bitcoin developers, BTC holders, and even BTC merchants like PayPal.
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
#bitcoin #mining #blockchain #crypto #supply #tech
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Hope this answered many of the questions you guys may have had regarding Bitcoin network's future.
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Hey Guy, off topic but does LiteCoin still have a place in this crypto space? Is it the SIlver to BitCoins gold?
@@sn3akydna314 of course he says that. He has to protect himself. Im glad he does as I don't want him to get shut down. I need all that crypto knowledge in my life to make sure I see the 🌙
@@derzzychartscypto25 oh, shut up. You can't even get your grammar straight. Some poor attempt to scam people. lol
@@derzzychartscypto25 nice try, lol.
Where can I buy that sweatshirt
Excellent, so that means I can finally get my new graphics card in 2070. Can’t wait.
Pure gold
🤣🤣🤣
🤣🤣🤣 Sad but true rn
inflation says no lol
Bro, I've been debating buying a used 2070 super for $700 on ebay for a month..
Shock development: 5 years from now Guy changes careers and becomes a Financial Advisor.
*Can't get clients because no one believes it*
Truth is nevertheless first to be Rejected.
I tell people to buy simple mediclaim and basic insurance features before investing 20% in stocks and mutual funds, they wont listen.
Some other broker will sell them a x rated penny stock with a dream of becoming multi millionaire in weeks, these same customers buy that.
BIZZARE world !!
Guy is a paid actor FYI
@@shirkedance the human mind has issues in planning long term. If they don't see the return immediately, they start to sweat...
During a bear market, the headlines will focus on negative news, whether it's declining economic growth, geopolitical upheaval, cultural and legal turmoil, or some combination of all three. I listened to a podcast of someone that grew his reserve from $120k to almost $460k during this Red season, can you share tips on how to make such aggressive proceeds in short periods?
Investors should be cautious about their exposure and be wary of new buys, especially during inflation. Such high yields in this recession is only possible under the supervision of a professional or trusted advisor
I love that you don't make "coin will 100x" pumping clickbait like most youtubers of your ilk, but instead give us in depth explanations, giving us the abilities to make our own informed decisions. I've bounced from many crypto channels now and really happy to have found yours! You seem to genuinely desire helping others with their crypto journey, not creating an elite pumping community. In it for the right reasons and I commend that.
IF YOU WANT TO BE SUCCESSFUL HAVE THE MINDSET OF THE RICH, SPEND LESS AND INVEST MORE. DON'T GIVE UP YOUR DREAMS.
I recommend anyone in need of a reliable broker to make money. Jay Pelle FX has been the one trading for me. make a lot of money weekly trading the financial markets
@Emmanuel Ransom You're right Sir
@Emmanuel Ransom But of a truth they are scammers but real brokers there too waiting for investors
＋⓵⓼⓪⓶⓸⓹⓹⓼⓽⓷⓻ 慰せ彙I
Mr Jay pelle FX trade is not just trade, but he is a tutor and he has made many newbies becomes real rich for themselves, I'm a clear example.
I'm actually tired of working about stocks...it's driving me nuts these days, I think crypto investment is far better than stock..
Trading crypto has been a lucrative way of making money
Stocks are good but crypto is more profitable
I was literally wondering about this today. Great video. This page is always dropping in-depth gems.
Do you want a step by step guild to get better crypto gains?
Mining is not the future... This message brought to you by Proof of Stake gang.
I'm here to say the same
@Daniel st Maarten Cardano is no. 3 market cap and Eth 2.0 is proof of stake also...
ALGORAND
Mining inefficient blockchains (e.g. BTC) is not the future. But mining efficient blockchains has quite a future.
@@Eamo5678 ETH has been proof of work all the time. That is why people mine it.
Anyone can buy a rig and mine to earn some crypto.
But of proof of stake can be dominated by the rich.
relying on governments to save btc after the 21 millionth has been mined no matter the public pressure sounds like a verry not-crypto thing to do for me
That's a ridiculous statement, El Salvador's going to be mining for free with their volcano. There are moments where energy becomes essentially not only free but a burden. Electricity that can't go anywhere can be dangerous to the power facility, you don't want the system to overload, so that energy could be used for bitcoin.
Governments getting involved in BTC is very scary. I know it might be necessary to get to societal acceptance as currency but the moment the government gets involved, they will immediately try to regulate it to protect their own special interests.
@@Deuce7Off dude you have absolutely no idea how much electric energy we will have to produce in order to get away from fossile energy sources. The estimates are that we will need to prduce minimum 3 times more electric energy and we will have to actually store huge amounts of overproduced energy due to high fluctuations.
@@timpoolsbeanie2296 that will happen though
@@backfischritter Where in my statement do I talk about fossil fuels? I'm speaking about moments in market conditions where energy can become 0 cost or even go to negative cost.
This question has been rattling around my head for some time. So glad you have covered this. Great content as always cheers
Same!
Good info! not cramped with info, clear voice, not adhd hypetrain machinist like some ytubers. ! subbed ;)
Crazy timing this video. I was only thinking of this question yesterday. Cheers fella!
So glad I found Guy, my families lives haven’t been the same since.
Thank you for all you do for us all.
👏👏👏👏👏👏
Thanks for watching, Don't forget to Hit the subscription button...
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For further discussion, questions and enlightenment !
@@admin.....96 Lol!
@@orvvro bro, look at the comments on every crypto video. Thry always the same. Literally op is the same then theres a scammers response.
Or theres a guy telling you in full grannatical english how he has made 34grand a week by taking advice from some broad then theres a thousand responses in full grammatical english agreeing about the same person. Creepy
Zero Hedge strap line says it all - "On a long enough timeline the survival rate for everyone drops to Zero".
Same for all currencies ever known.
@Coin Bureau cool man, great scam
@Joe Smith Just like the 'Digital Illusion' you have just utilized to send this idiotic reply. Sad.
$GOLD $PSLV
@Coin Bureau No longer available
@Coin Bureau + •1 •9 •1 •7 •5 •9 •9 •5 •5 •8 •1
I really appreciate how you put this video together! Thank you!
Are you interested in getting info for better crypto gains?
I still insist, you are the best of best. Thank you for this powerful sharing. Keep up your good job. 👍👍👍👏👏
1:47 ... green beans potatas tomatas
Guy, you give the best education and I appreciate the time and knowledge that you put into your videos! Thank you!
wow you just went DEEP.. thank you for this!
One thing about gold and other precious minerals that many don’t talk about when speaking on supply is the mass amounts that are in space. There are already companies with this in mind as well it just isn’t talked about very much.
Wow I was literally just looking for this information
Me too!
@Coin Bureau I love the scammers.
Love this guy contents! He could easily be a great teacher
I am so thankful i found this page.. this knowledge is priceless. Wow
Just found you about a week ago and I LOVE your content. Very informative, clear and to the point.
I do not think they should EVER increase Bitcoin supply beyond 21Million, the solutions you outlined are best.
They can't up the limit. It is simply impossible
you are underrated !! I really like the hard work you put in, to provide us with awesome info. Thank you!
📌📌+1 8 1 7 6 7 7 0 0 9.3
Wow! Excellent information. Answered a longstanding question
This was an awesome watch. I just started dipping my toes into the crypto waters and this answered a ton of questions...most of which I didn't know I needed answers to!
amazingly educational!
Man, your content is GOLD. Don't understand why you don't have over 1m subs.
Maybe because 90 percent of people has interest only about "wen moon" excluding facts :)
Gems are often missed until it’s too late. Luckily for me I’m seeing them early. (Myself included) One day I’ll be THAT guy from school if crypto blows up. 👌🏽🥳
He will till the end of the year
No his content is Bitcoin.
Better For us
Fascinating...
Thank you I've been thinking about this
Thank you Guy! your awesome .. so well explained!
You’re the man! Here’s my comment for the Algo!
Thanks for your comment, if any difficulty feel free to contact me, thank you
+ 1 .8. 0. 4 .5 .5 .6 .1 .0 .7 .2
Here's my comment for the algo! Pump it youtube!
Your videos are always top shelf.
Can’t wait for your video on LIT!! 🔥
I enjoy your videos. A lot of research, time stamps for subjects... new fan!
Always great to see you. I'm glad you sacrifice your social life for us hahaha keep the good work.
It’s a trade
2 seconds tldr: when bitcoin runs out, transaction fees will likely increase. this video seems well edited but it is very slow my friend
and fees will drive users to other capped scarcity markets until a magnificent crash occurs, leaving it a desolate husk.
18 mins saved
this is why i look at the comments, thanks
@CryptoMinerKevinLovesDoge That's why invest in it now. There are a lot of factors such as the fact that computer components get more powerful as time goes on.
Yeah, but they have to take it slow because there are entire generations that are mystified by it.
....sadly, this video might be how many law makes will determine policy, because it is titled in a way that it might be very easily googled when they come across that problem.
Thank you this question had been on my mind for a while. I greatly appreciated your sharing
Very clear , thank you.
"don't ask me about that Bitcoin SV because I ain't touching that shit with a 10-foot pole" ma boy Guy completely killing it hahahahahaa
Thank you very much for all the hard work you do, sir. Your content is top notch and It's pretty sad that you have less than 1 million Subscribers 😤..
Nice call with the reserve asset prediction. It is here with El Salvador
Absolutely clear well done video
Guy if you ever come north to Scotland.. I'll show you around Aberdeen Fella :D All the best.
@Coin Bureau SCAM.
Perhaps after he has a beer with me in Munich! Haha, I agree this guy is becoming a legend.
I hope this guy is making a ton of money from these videos, he puts so much work into every video he deserves it
Thanks for your wonderful comments
As always, great video. Love the fact that you don't agree to have commercials on your channel!
Thanks for the breakdown!
I swear this is not fair. How does Guy have 300k subs, you deserve millions.. thanks a lot for the content, you literally have the most educational crypto channel out there
Wait till more ppl get interrest in crypto? We need to promote this Guy? 😄
My guess,in next 3 years he will reach 1.mil subs 🙋♂️👍
Wallah ur right ya habibi...
I started watching guy at the start of last year, just before covid hit and his channel has grown from 8 thousand to 300 thousand in a year. he is well on the way for a mill subs!
Very few people invest in stocks outside of their 401k/403bs, let alone into crypto.
OK. Ty
Talk to us more about ADA, its music to my ears
ADA is the master race
hell yeah! i wanna be able to say i was on there on the launchpad when ADA went to the moon
been with ada since the first bubble in 2017-18, so excited to see its growth here into the future!
@@soccerfp and vgx
Holding 259k
Thank you for everything. I watch you almost daily.
answering all the questions I have and haven`t (just yet) asked. Thank you!
Are you interested in getting info for better crypto gains?
"Now, don't ask me about Bitcoin SV..."
🤣🤣🤣🤣
15:19 😆
"I'm not a financial adviser", but I am Cain Dingle from Emmerdale. Anyone else see it? Great content mate.
Omg it's him!
Lmao epic
care for bitcoin investment tips for good returns?
Cleaner, better looking version of Cain...but yes they do look alike
Sombody did a test. They split twins up at birth. One went to the dingles, the other to the braithwaites. This is the result of that experiment. 😂
333k subs! CONGRATULATIONS Guy! You're the best!
📌📌+1 8 1 7 6 7 7 0 0 9.3
Wonderful, as always. Thank you very much!!!
Investing in crypto now is very cool especially with the current rise in the market now
Yes you are right
Thanks for introducing me to Mrs Allen
People are scared of investing because of the high rate of scam in the business
Making them to remain poor out Of ignorance
There are scammers but there are real brokers waiting for investors out there
In the original paper Satoshi himself said that the block size can be increased and that #SATS could become it's own currency. Much like Pennies to the Dollar. So yes I think 1 BTC will eventually become $1 million or more... cause nobody will hold so much Bitcoin when even 10% of mass adoption happens around 2024-2025
i agree
Bitcoin will grow massively over the next few years. Same with etherium and doge themed tokens. Corona wiped out a lot of money across the US and put more money into small business than anything else and with that you seen how much crypto went up in just a year. these small business will continue to flourish, while the economy is getting shit and more shit , the wages will continue to rise thru out these next 5 years to encourage work for the lower class the economy has plummeted with corona as well, people don’t want to work, small business Don’t need to hire people... more money will be put into bigger things (Bitcoin) , less will be povershed as well if they follow the riches lead (Elon musk). Btw Tesla will also continue to rise... haters will hate though. 😘💪
This was super interesting thanks
Yes, great video - thanks love it
I'm in the energy sector and can guarantee that green energy will dramatic increase the cost of electricity. The issue is that we need storage mechanisms and upgraded grids to support the storage and input of electricity into the grid from "green" energy supplies. The issue is that regulation is shutting down traditional energy means WAY before we have a solution for battery storage and a grid that will support the influx of solar / wind / etc. The extreme cost of maintenance on solar and wind equipment along with updates to infrastructure will result in crippling bills or taxes to pay for it all.
Then e-gold.
Are you talking about elrond
@@anirbanchakraborty8710 yes.
Kinesis money
@Coin Bureau scam everyone!
Great video guy!!
I was wondering if you can possibly make a video explaining the bitcoin cycle..and when you think this bull run might end.
Hello, any difficulty so far? You can text me now
+ 1 . 8. 0. 4 .5 .5. 6 .1 .0 .7 .2
Fantastic content and point of view. Thank you!!
i ain't touchin' that shit with a 10 ft pole!! lol had me rolling.
sameee
Had I only bought for $50 back then I'd be rich man now. Well. I bought real money instead - gold. Has risen too. Not as much but hey still more than just money in the bank.
It's strange how people talk about the profits they've been Making through trading of bitcoin while I'm here not making any profit at all please can someone put me through on the right path.
Most time having knowledge or insight about a particular activity can as well be a pleasing exercise.I can boldly say that Forex and crypto trading is one of the profitable money exchange service that elevates investors and their financial status.
My first investment with her trading services gave me profit of over $24,000 Us dollars and ever since then she has never failed to deliver and I can even say she's the most sincere broker I have known
A friend that I referred to her just received &17,050 profit after 10 days of investing... I became jealous.
She is Expert Sophia, she made me over$20, 000 ever since then I kept reinvesting with her.
Am glad I got recommended to her, she is the best broker. I was sceptical about her at first but after I got paid always invest over and over again
Wow. Absolutely excellent video. It is so refreshing to see deep, honest research
Amazing video. Thank you
Best crypto channel! Also I’ve never been so early! Lol Cheers! 🥂
How do you push out this amazing content every single day? Incredible. You do an absolutely awesome job!
Are you interested in getting info for better crypto gains?
I really like your channel. Keep up with the good work
Its always good to learn English and crypto education with you sir! I appreciate!
"Bitcoin SV...an't touching that shit with a 10ft pole"...LOL Hahahaha
care for bitcoin investment tips for good returns?
Oh shit, once it runs out, the price will skyrocket. Thanks for reminding me to buy bitcoin
You won't be alive when all of it is mined considering it won't be until 2140s till the last one is mined. That is if BTC still exists imo it would be outdated and gone by then replaced by cryptocurrency that hasn't even been made yet.
@@RuiRuichi you didn't see the video, did you
@@akoursoumis 2078/ 3 years and 9 months btc halving? :)
Yes.go buy as many as possible right now ! 😂
@@RuiRuichi xrp will replace it mark my word
Guy - always a pleasure to listen to your straight shooting, excellent quality information. Thanks
Thank you for the financial advice.
I’m going ALL IN on Bitcoin! Thanks. 🙂
TL;DW: As long as central banks exist, no.
Bitcoin has a limit. Bitcoin can be permanently lost and it does happen. Therefore at some point the total available bitcoin will be zero.
@@kaseyboles30 The universe will also succumb to entropy at one point
@@johnsonnathan6649 rather large timescale difference, quadrillions to one or more.
Don't increase the limit but restore lost coins. Basically any coin that is inactive for 10 years should be restored back into the encrytion to be re-mined. That way, we can ensure all the 21 million BTC are active.
Keep up good work. Can you do a vid on binance chain. Seems to be going mad.
Thanks for your comment
People are making huge profit through crypto.Feel free to message one of my trusted broker to make more profit on crypto
Great down to earth vid Thankyou
"To earn interest on your bitcoin, you need another platform. I think the platform that bitcoin becomes dependent on is going to have a huge advantage
We had that conversation in Twitter some days ago!
An excellent piece of work of yours; much appreciated...
Thanks for watching, Don't forget to Hit the subscription button...
+¹=⁹=²=⁸=²=⁵=⁰=⁶=⁰=⁷=⁸
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For further discussion, questions and enlightenment !.
Thanks dude always wanted to know that
The best time to invest Bitcoin /fx and cryptocurrency trading is now. Don't say to yourself that is going down because you will end up postponing for ever start now and make sure you start with a right broker.
@John Rashford Do you trade forex
@John Rashford Did you trade it yourself?
Wow I surprised someone mentioned Mrs Amelia Walter's here she's well known broker and lucrative broker
@John Rashford How can I reach her
@Jackson Bruno How do i link up with Expert Mrs Amelia Walter's
Numbers can be halved infinitely. The miners can still come to consensus to add more decimals(satoshis)to the code.
Miners don't control the rules of the bitcoin network.
Thanks guy, another interesting and informative offering to your subscribers.
Thanks for your comment
People are making huge profit through crypto.Feel free to message one of my trusted broker to make more profit on crypto
i like your style man, your review and detailing are just massively attractive and stunning.
Kinda gay dude
You’re subtly hilarious I love it
Thanks for your comment
People are making huge profit through crypto.Feel free to message one of my trusted broker to make more profit on crypto
Mr. Blain *+ 1( 9 0 8 ) 2 7 4 - 0 9 6 5*
British humour.
Cool but ETH is not even scalable and adding more BTC makes it lose one of its major selling points, so sounds like it's going tits up
Thanks for all your work, analysis and opinions!
This Guy,,, Guy ,,, thanks man 👍
10:13 Bit coin mining rigs are becoming more affordable? I wish I could buy a video card for less than 2x retail price.
the whole video is just handwaving trash.
@@LuisManuelLealDias 😂😂
You mean you could buy a prebuild with the same money for the gou and sell the tower?!??!?!
Hmm I remember a time when it was like this but not recently, they seem to be OK at least retail price.
Is BTC even still mined on GPUs? I thought custom miners took it over.
"Ain't touching that shit with a ten foot pole!"
Amen
Amen indeed
Enjoy staying poor........................
@@bitcoingrandad722 I’m doing just fine without it.
@Coin Bureau scam
It is a ponzi which is accepted globally thats all it is, people are desperate for only profit nowdays and greedy
The price is rising because new investors hop on the hype train
So that older investors can get wealthy, simple as that.
Great insight Guy thank you. I watched an Eth maxi video yesterday and this was the single biggest risk to BTC they highlighted that seemed valid. Lots of unknowns but plenty of time to find a solution too hopefully.
Thanks for the information. 👍🏻🙏
World’s smartest people with one hundred years heads up?
@Coin Bureau ^SCAM ACCOUNT^
Mistaking leverage for genius is not the first time I have heard this story.
Damn, great answer to a question I hadn't formulated for myself yet. Love how Guy predicted El Salvador
Guy, one thing to add about the transaction fees vs. mining rewards. By the time we get down the road to 2078 or 2140 or whatever, the mining rewards will be a small fraction of the transaction fee, so I don't see any danger in miners turning off their machines.
Valid question