[NOOB] How/Why do you think cryptos (mainly Bitcoin, since largest) will replace normal currency? It is always compared to other currencies in value and while trading, and I've heard that the total Bitcoin in circulation is fixed (20 mil right?) . Isn't that a disadvantage?Money will never increase?
Another disadvantage is the fact that the value of one Bitcoin is so high. Like how do you manage to say 0.00001 BTC every time? Shouldn't currencies be in hundreds, thousands? There should always be something for BTC to be compared to right? A traditional, paper currency? Only then will the value fluctuate and trade happen? You don't have to actually answer them if this question is common on this sub. A previous answer, articles or video is good for me too.
12% of the total bitcoins in circulation are in a limbo at the moment , thanks to adam & greg from blockstream . these are not tech gurus , more like the worst politic administrators wannabes of the new crypto era
Grayscale Investments has reached over $1.2b in AUM, marking a 42% increase in quarter-over-quarter inflows, with 73% coming from institutional investors. GBTC holds almost 1.3% of total bitcoin in circulation. https://buff.ly/2HuuKWO #institutions #GBTC #grayscale #crypto
How do we actually know the "total bitcoins in circulation"? Is anyone counting?
At the time of this posting, Blockchain says there are 13,319,575 bitcoins in circulation. I'm wondering how does Blockchain calculate this--are they just keeping a running tally based on the new bitcoins mined every ~10 min, or are they actually continuously checking the entire blockchain? Is anyone checking the whole blockchain counting all the bitcoins? I'm asking because say there's a 51% attack or some flaw in the protocol allowing someone to create more bitcoins--would it be immediately detected? And how? Is it possible it's happening right now under our noses without anyone realizing? (Like the bash bug that's been around for decades but only discovered last week.) Normally I wouldn't entertain such crazy thoughts, but honestly the price of bitcoin has not been making any sense. The price is lower now than before the PayPal announcement?! So my brain starts thinking maybe someone discovered a flaw, a way to fabricate new bitcoins at whim. So I just need to hear the reasons how this is completely impossible.
Bitcoin has no intrinsic value. It goes up in price due simply to supply and demand. Inflation of Bitcoin decreases by 50% every 4 years; this built in supply disruption causes the prices to go up just like when there is an oil supply disruption. The next 50% bitcoin supply decrease from miners is expected to be May 2020. My personal guess is, eventually, the price of Bitcoin will be over $100,000 as the supply from miners (inflation) decreases every 4 years if global demand for Bitcoin stays about the same as it is now. **Total Bitcoins in circulation:**17,773,775 **Total Bitcoins to ever be produced:**21,000,000 **Percentage of total Bitcoins mined:**84.64% **Total Bitcoins left to mine:**3,226,225 **Total Bitcoins left to mine until next blockhalf:**601,225 **Bitcoin price (USD):**$10,778.00
Total value of Bitcoin in circulation (as of 08/09/2020) $187,750,529,607. Maximum Bitcoin in circulation. 21,000,000 BTC. Block confirmation time. 10 minutes. Reward per block. 6.25 BTC. Total blocks (as of 08/09/2020) 647,376. Bitcoins generated per day. 900. Current Bitcoin inflation rate per annum. 1.79% . What are the limits? The maximum amount of Bitcoins that can ever be mined is 21 ... Bitcoin is different. The release of Bitcoin into circulation is as predictable as knowing when the sun will set, and uses the following formula depicting that: According to this formula, almost 21 million bitcoin will be in supply. To be precise, a total of 20,999,999,9769 bitcoins will be created in total. Bitcoin is a virtual currency. It can be bought and sold through ... "Number of Bitcoins in circulation worldwide from 4th quarter 2012 to 3rd quarter 2020 (in millions)." Chart. October 2, 2020 ... However, with some quick math, we can assume the maximum number of people who are Bitcoin millionaires. With Bitcoin’s price at $7696.87, you’d need 129.92 bitcoins to be a Bitcoin millionaire in dollars. Since there are 18,012,425 BTC in circulation, there are a maximum of 138,639 people holding 129.92 bitcoins. Unspent outputs of transactions denominated in any multiple of satoshis  :ch. 5 12.5 bitcoins per block (approximately every ten minutes) until mid 2020,  and then afterwards 6.25 bitcoins per block for 4 years until next halving. This halving continues until 2110–40, when 21 million bitcoins will have been issu
In this video, I answer his question and I share with you the process of how the supply of bitcoins is determined. Receive FREE video lessons from George Levy's paid blockchain, Bitcoin and ... Bitcoin total supply is not 21 million?! Forks produce more BTC?! - Duration: 9:12. Mr_Kristof 6,741 views. 9:12. There Will Never Be 21 Million Bitcoin In Circulation - Duration: 12:09. The ... There will only ever be 21 million Bitcoin in circulation. How did the real Satoshi come up with that number? We have some theories….check out the video to find out! We’re answering all of ... Expect atleast one question in your exam from this lecture! Dr. Manishika Jain explains tCreation, Circulation, Usage, Problems & Advantages of Bitcoins - Cryptocurrency "If you can't explain it ... __count__/__total__ YouTube Premium Loading... Get YouTube without the ads. Working... Skip trial. 1 month free . Find out why Close. There Will Never Be 21 Million Bitcoin In Circulation The ...