Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
From year 2100 to 2140 *ONE* bitcoin will be mined total
#1
From year 2100 to 2140 *ONE* bitcoin will be mined total

In year 2136 the bounty will be 0.00000042 BTC per block.
So now think how expensive those 40 years of mining will be, including tx fees; how much $$$ would running the current hashrate for 40 years cost? That would get you 1 bitcoin.
Cutting out all the speculation and absurd pumping and dumping to smokescreen the core idea that the cost to mine 1 bitcoin is a fair indicator of what 1 bitcoin's minimum value is, it becomes clear that the absolute minimum value is capable of being a massive multiple of what it is now, even if nobody spent or sold one.
BTC, or any crypto, floors at the cost to mine one: a conversion from electricity and infrastructure into "value tokens."
If it costs me $1,000 to mine one, I would never sell it for less than $1,000. And then eventually it costs more than that, and so on.
It is then a store of that expense. A token of that value. "Using it" is simply having it... mined or purchased.
Adoption involves the fluidity of conversion and outlets of acceptance, sure, but essentially stating that the value will "never go up" is stating that cost of mining or hashrate will also "never go up." Both have gone up steadily.
If you'd like to see the bubbles happening, look no further than the cost of mining vs the cost of bitcoin. Notice how it has never dropped under mid-scale mining costs, ever, in the history of BTC.
Notice how 1/2 of all bitcoin was mined at or under a $50 valuation, when a couple hundred dollar ASIC could turn profit in a few months.
100% of strategies of diversifying or averaging were pointless since then, the most successful strategy was to convert as much fiat (via cash or mining resources, whichever is more efficient for you) to BTC.
Right now estimates sre that it is around $5-6k to mine one bitcoin, and since hearing that figure the hashrate has jumped up ~15%.
So unless you think the hashrate will double with the cost of mining halving, that means the baseline will follow suit to a substantial degree.
So, yeah, some real advice? Don't pay more than a couple percent over the cost of mining for 1 btc unless you're prepared to wait.


https://www.reddit.com/r/Bitcoin/comment..._be_mined/


Website: https://www.nepalbitcoin.club

Facebook: https://www.facebook.com/nepalbitcoinclub/

Twitter: https://twitter.com/nplbitcoinclub
Telegram: https://t.me/nplbitcoindotclub (for Developers)
Reply


Messages In This Thread
From year 2100 to 2140 *ONE* bitcoin will be mined total - by admin - 08-10-2018, 01:40 AM

Forum Jump:


Users browsing this thread: 1 Guest(s)