Quote from: 7jaka7 on September 14, 2017, 12:01:38 PM

Quote from: embodytantra on September 13, 2017, 07:06:56 AM

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!

It's interesting to view it that way. I was actually thinking the opposite - that if the wealthy people own almost all the coins then it will become completely obsolete (simply because the coins aren't being used and because what drives something to rise in value is popularity, only a fraction of the world's population is elite wealthy). I would think we would go with another cryto far before that happened though.

embodytantra

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