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Question about Bitcoin Servers - kakashi2020 - 05-17-2018

I really don't know if this question can be posted here.  

Its said that the total Bitcoins that can be mined is 21 million and 16.8 coins have already been mined since 2009.  There's only 4.2 million Bitcoins left to be mined.  

What happens next if all Bitcoins have been mined?  The servers would stop right because they don't have anything to mine anymore right? So who's going to support the network?


RE: Question about Bitcoin Servers - NoviceNinja - 10-20-2018

Assuming your statements are correct, May I also have a few follow-up questions?


- Where did these Bitcoins even come from in the first place? I'm sure they never came to existence out of thin air.

- And who regulates digital currencies? Who or what organizational body dictates how much they are priced and valued in the market and such things?

Thanks!


RE: Question about Bitcoin Servers - acegige001 - 10-20-2018

Bitcoin was invented/made up by a Japanese guy who wanted to come up with a investmen platform that will not be regulated by the state and others, will have anonymity, and will cater only to a group of people. Thus you come up with cocepts like crypto and blockchain. Basically it's like stocks but unregulated and as such quite precarious.


RE: Question about Bitcoin Servers - Anachiwo - 10-27-2018

One thing which I can guarantee you once all Bitcoin have been successfully mined, it's going to bring about scarcity in the cryptocurrency exchange market which would see the price of Bitcoin skyrocket beyond anyone's imagination.

Some are complaining now that a Bitcoin now is worth $6,400, by the time it's all mined no one should be surprised if that current price triples. So, if you haven't taken cryptocurrency seriously, now would be still a good time to do so.


RE: Question about Bitcoin Servers - NoviceNinja - 11-05-2018

(10-20-2018, 04:29 AM)acegige001 Wrote: Bitcoin was invented/made up by a Japanese guy who wanted to come up with a investmen platform that will not be regulated by the state  and others, will have anonymity, and will cater only to a group of people. Thus you come up with cocepts like crypto and blockchain. Basically it's like stocks but unregulated and as such quite precarious.

If it was all made up, then how come all these cryptocurrencies have monetary value? Like how did that happen? Sorry for the noob question, but I still don't get it.