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📺 Important Movies 📺
Fiat Forex Is A Ponzi 👉
Cryptocurrency Wrapping Defined 👉
Polkadot Defined 👉
Calculating When The Final Bitcoin Will Be Mined 👉
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– TIMESTAMPS –
0:00 Intro
2:26 Bitcoin Mining Recap
5:07 When Will The Final Bitcoin Be Mined?
6:00 What Occurs When The Final is Mined?
7:40 Resolution: Layer 2s?
9:05 Resolution: Electrical energy And Tech?
10:30 Resolution: Pores and skin In The Recreation?
12:09 Resolution: Good Contract Chains?
14:06 Most Provide Be Modified?
15:55 Conclusion
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⛓️ 🔗 Helpful Hyperlinks 🔗 ⛓️
► Why Bitcoin’s Most Provide Is 21 Million:
► Bitcoin Halving Historical past And Schedule:
► Bitcoin Lightning Community Defined:
► Inexperienced Vitality Cryptocurrency Mining:
► Miami Mayor Considers Bitcoin Reserves:
► Bitcoin On Polkadot:
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⛏Bitcoin Mining Recap⛏
New BTC are issued each time a brand new Bitcoin block is mined. The Bitcoin code ensures this occurs roughly each 10 minutes by adjusting the mining problem relying on what number of miners there are
The utmost quantity of BTC that may ever be mined is 21 million, and this restrict is constructed into Bitcoin’s code
⏲When Will The Final Bitcoin Be Mined?⏲
Whereas every Bitcoin halving is meant to happen 4 years aside, the final three halvings have occurred simply 3 years and 9 months aside. Assuming this development continues, the final Bitcoin can be mined close to the tip of 2078, a lot earlier than the 2140 determine that’s typically cited
👀What Occurs When The Final Bitcoin Is Mined?👀
In addition to the BTC miners get from every new Bitcoin block, additionally they earn charges as compensation for processing transactions. Many individuals consider that by the point the BTC mining rewards run out, these transaction charges can be sufficient to maintain the Bitcoin community
💱Resolution: Layer 2s?💱
The issue with layer 2 options just like the Lightning Community is that they cut back the variety of transactions that really happen on the Bitcoin blockchain
Fewer transactions imply that the charges for opening and shutting these cost channels must be extremely excessive for Bitcoin miners to stay worthwhile and operational
These excessive charges would then put stress on layer 2s just like the Lightning Community to attenuate the opening and shutting of their cost channels, leading to a vicious cycle that threatens the community
⚡Resolution: Electrical energy And Tech? ⚡
Low-cost power and environment friendly {hardware} would make it straightforward for Bitcoin miners to remain worthwhile utilizing transaction charges alone, and it might even additional decentralize Bitcoin as new miners be a part of the community to get a share of these charges
💰Resolution: Pores and skin In The Recreation? 💰
If and when cities, states, and even governments start holding BTC as a part of their reserves, they are going to have all the motivation on this planet to ensure the Bitcoin community stays safe and operational
If sufficient non-public firms begin to maintain massive quantities of BTC, they too would have a cause to hurry in and ensure the Bitcoin community stays operational
⛓Resolution: Good Contract Chains? ⛓
Given the rise in wrapped Bitcoin on Ethereum, it’s doable if unlikely that sensible contract blockchains might turn out to be the long run house for all of the Bitcoin in circulation. Cardano and Polkadot will quickly be introducing tokenized variations of Bitcoin to their blockchains as nicely
👩💻Can Bitcoin’s Most Provide Be Modified?👩💻
Altering Bitcoin’s most provide is feasible as long as there may be consensus from the QUOTE ‘financial majority’
This consists of not simply Bitcoin miners, however Bitcoin builders, BTC holders, and even BTC retailers like PayPal.
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📜 Disclaimer 📜
The data contained herein is for informational functions solely. Nothing herein shall be construed to be monetary authorized or tax recommendation. The content material of this video is solely the opinions of the speaker who will not be a licensed monetary advisor or registered funding advisor. Buying and selling cryptocurrencies poses appreciable danger of loss. The speaker doesn’t assure any specific final result.
#bitcoin #mining #blockchain #crypto #provide #tech
Source: Coin Bureau
47 Responses
Hope this answered many of the questions you guys may have had regarding Bitcoin network's future.
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Take down this video ! That top is racist ! Plus he’s from London he knows he can’t wear that here on the street. RACIST ViDEO !
why total gigahash of the network needs to grow and grow? new block is created every 10 min regardless of the total gigahash rate
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bitcoin will fall, as it ll be banned everywhere as it s a mean to support terrorism money laundering drug trade n dark net activities
BCD and BTG are alternatives
When<people get the signal and the confirmation of the bear market "whenever it is" as they say , their portfolio will already be 70% at the best minus! Investors and traders should try to be ahead of the market or at least react fast. Because all the indicators "rsi-macd-Ema-…" Are lagging indicators! So why would someone hold all the way from 65k to 32k , when he could double his position by selling and buying back. And wait for confirmations in any direction … Slogans like HODL and Diamond hands are just for inexperienced Investors that think there is no other direction other than the moon. I'll advise current investors and newbies to take advantage of the Lyra Holt Dean program, an establishment that handles people who lack understanding on how to maneuver the crypto space through the rise and dip, to help them recover loss from the crash and also accumulate more positive returns, with her program I went from having 2btc to 9btc in just 4 weeks. Lyra can be reached on contact(@lyraholtdean) CM to solve crypto-related issues.
People can still sue you even if you say that lol advisory
Jesus… so we all end up working for lines of code.
The Matrix didn’t need to put us all in a machine… all they needed to do was make a genius code and we all do it voluntarily…
im pretty sure bitcoin is designed in a way that makes it impossible to mine all 21'000'000 coins. so it will go on forever. that would mean that the prices also has to climb up forever. the whole concept doesn't make sense. not at all. and that's why it will fail. soon. very soon.
I see the problem in the network becoming increasingly centralized, or quasi centralized or something like that. The size of the blockchain alone will become unwieldy and not manageable for small miners. The solution of a smart contract that checks whether BTC has been burnt and then issues a token on a modern PoS-Blockchain seems promising, cardano for example only consumes about a tenthousandth of the bitcoin network energy needs
Hello please i need a very good broker to start up my investment any ideas…?
bitcoin will not collapse. but other currencies will take the reins. etherium or any new projects that appeal to that new generation. if a new model of government comes out with cryptocurrencies for example.
need a cardono shirt….thanks
Way too long intro…over 2 minutes and u haven't said anything. you were just talking
Won’t be until year 2141
Thanks for the information. 👍🏻🙏
Amazing video. Thank you
Hi guys. take a check Robust protocol token (RBT) max supply 100,000 tokens and recently launched. I think that token can take a record price per. token🤑
Read the article from founder of Dragonfly make me revisit this video once again. The article said the author worry that Ethereum L2 solutions will fail in front of all the “sidechain-like” alternatives in hype like Polygon and BSC, just as LN failed in front of WBTC.
And the amazing thing is, Guy said that already five months ago!
There is 1 000 000BTC never transfered from Satoshi wallet, so if they wont be mined Bitcoin will end before 2077!
2017, 2021 and next time BTC will grow will be 2025. Every 4 years. Prove im wrong ????
Is Bitcoin the only one with the limit to be mined?
Tens of thousands of developers working on Bitcoin??? Where did you get that rediculous number from ?
16:58 – aged like a fine wine just 5 months later….
Smart Contracts on BTC would be great.
Proof of stake ?
I admire the fact that this channel is one of the few having the courage to NOT monetize their content.
Mate excellent video 😉 especially because as you predicted governments/cities/countries just start to have BTC as part of their economy 🙂 👏🏽👏🏽👏🏽👏🏽👏🏽 Also I’m a Eth miner/holder and AdA enthusiasts
Great analysis, as usual. Thanks Guy!
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.
Damn, great answer to a question I hadn't formulated for myself yet. Love how Guy predicted El Salvador
I am pretty sure some Indian made his slides 😀
17:03 OMG how did u predict that. u r a legend. Now L Savidor accept BTC as a legal tender
Nobody knows.
Bitcoin will never collapse 😉
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
Only way Proof of Work survives is with tail emission which the BTC community is allergic to. Maybe they'll change their mind in 50 years.
With about 4% of Bitcoin lost each year, as well as legacy accounts not transferring, wouldn't we be at about 14 million total supply when all said and done, rather than 21 million? Just thinking about the figures and doing the math.
Came back and El Salvador has adopted BTC as guy predicted. The first country is El Salvador GUY doubt you ever expected that it will be El Salvador. African countries will follow suit soon.
I don't think all of the bitcoin will ever be mined, as the halving will never mathematically make the remaining supply reach 0. Ultimately, the last bit of bitcoin left to be mined will still be a non-zero number, meaning the value of 1 bitcoin might be indefinitely on the rise.
Ok this is already creepy
Cheap power does not help BTC – it would help an attacker as much as an honest miner
BTC's store of value is not existent if it can't secure it's own blockchain. It needs a way to upgrade the protocol as conditions change (or we should use a upgradeable-by-design blockchain)
Where do I spend my 0.0000001 million bitcoins?😂
We won't mine the 21 millions BTC. Network and miners are actually under attack and hashrate's under 89 Ehash/s. They are about to destroy BTC cutting off all miners networks.
pro tip: put your autocue on a smaller width so your eyes won't move so much.