I'm a newb, and curious what happens to bitcoin after they're all mined (considering that it's mostly wealth to absurdly wealthy people mining them now and has been for a while, aside from cloud mining sure but that's not that many is it? IDK), but curious what is the vision 10-15 years down the road it's possible that most the very wealthy people own BTCs? Seeing how more and more transactions are going to be paid via bitcoin (and rich people own most of the companies that GET paid in these transactions) - so I'm curious how it's going to be different?
Thanks!
I believe that even the biggest miners must sell some of their BTC to pay for electricity and other expenses. If wealth people would own a big percentage of BTC and hold them price would grow faster. It would fall off course if they sell a lot of them, but after that, they wouldn't have those bitcoins anymore. So this is not a big problem I think.
Remember this: if you don't sell/spend your BTC no one can ever get it. So definetely HODL at least a bit no matter the price!
Of course they sell a portion of their mining profits. They are obliged to if they want to be able to keep operating.
I also feel like it's more likely that bitcoin will create more rich people than there will be rich people buying into bitcoin and crypto currency right now. Remember, we're approaching the total market cap of bitcoi very quickly so at this point they should already be buying in heaps of bitcoin.