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Dan Held Shared: 18.9M Bitcoin (BTC) has been issued. Only 2.1M left.
Community Response:
And then the whole thing collapses like why would anyone bother mining Bitcoin after the last one is mined?
Because miners don’t just receive newly minted Bitcoin, they also get the transaction fees in the block…
Then why don’t just cut out the middleman and save the world? Who in their right mind wants to pay transaction fees in modern society? Wealth accumulation is so archaic and deplorable.
They’re not a middleman…. those miners protect the ordering of transactions. And there’s no such thing as “free”.
Serious questions? If miners don’t get rewards for adding new blocks after reaching 21 million, who will maintain the network?
Blocks contain transaction fees and new coins. Google it. Varies.
And how many do you estimate are lost?
At least a few million.
And many people still don’t own a fraction of bitcoin. It’s still not late to buy Bitcoin. Everything is very expensive now accept Bitcoin.
And how much Bitcoin is lost forever probably Dan?
What happens to the price if I buy the rest of 2.1M Bitcoin off the exchanges like all whales do remains the same?
If BTC is a store of value, how will transaction fees work for miners if most people are holding?
What’s your working estimate for total supply outstanding after factoring in lost wallets and coins pls?
It is crazy how fast scarcity is coming on bitcoin.
Countless manipulators from the derivatives market. But supply and demand should prevail in the end.
Inflationary assets are designed to be deflationary Bitcoin.
And about 6M lost forever (including some of mine), so even more scarce now.
10k Bitcoin I lost in a cold wallet. My ex-threw it in the garbage when I was at work that was in 2014.
Wondering why this was posted without adding the final BTC will take approximately 140 years to mine. And let’s not forget the approximately 3m+/- BTC lost.
This is why traditional cycles are driven by halving events now outdated. The supply is dwindling and is not being replaced with new supply from miners even close to the extent as past cycles. People expecting a multi-year bear market just because it happened before are in for a rude awakening.
