Will Bitcoin Die? - A Complete Guide

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Bitcoin, the world’s first and most well-known cryptocurrency, has been surrounded by controversy since its inception in 2009. Some believe that Bitcoin is here to stay and that it is the currency of the future, while others argue that it is simply a passing fad that is doomed to fail. In this complete guide, we will examine both sides of the argument and try to determine whether Bitcoin is likely to die or thrive. Bitcoin iFex 360 ai trading app is one of the best platforms that can help you in gaining guidelines about bitcoin trading.


First, it’s important to understand what Bitcoin is and how it works. Bitcoin is a digital currency that is decentralized, meaning that it operates independently of any central authority or government. Transactions are recorded on a public ledger called the blockchain, which is maintained by users all around the world. This means that transactions are transparent and cannot be manipulated, making Bitcoin a secure form of payment.

One of the key arguments against Bitcoin is that it is highly volatile and subject to wild price swings. In December 2017, Bitcoin hit an all-time high of nearly $20,000, only to crash spectacularly a few months later. Skeptics argue that these fluctuations make Bitcoin an unstable investment and that it is only a matter of time before it collapses completely.

However, supporters of Bitcoin point out that the technology has been steadily improving over the years, and that many of the problems associated with early versions of the cryptocurrency have been addressed. For example, transactions used to take a long time to complete and were expensive to process, but improvements to the network have made transactions faster and cheaper.

Another factor that could help Bitcoin survive in the long term is the growing number of businesses and organizations that are accepting it as a form of payment. Major companies such as Microsoft, Expedia, and Shopify all accept Bitcoin, as do smaller businesses around the world. This could help to increase its adoption and legitimize it as a genuine alternative to traditional forms of payment.

There are also some important geopolitical factors that could play a role in Bitcoin’s survival. In countries with unstable currencies or high levels of inflation, Bitcoin could offer a more stable and secure form of payment for everyday transactions. For example, in Venezuela, where the local currency has been severely devalued, many people have turned to Bitcoin as a way to buy food and other essentials.

How many bitcoins have been created thus far?

The total number of Bitcoins that have been created thus far is 18.5 million. Bitcoin was first introduced in 2009, and the rate of creation is slowing down as time progresses. The maximum number of Bitcoins that can be created is 21 million, and it is estimated that the last Bitcoin will be mined in the year 2140. As of May 2021, approximately 88% of all Bitcoins have already been mined, leaving roughly 2.5 million left to be created. This scarcity is one of the factors that contribute to the value of Bitcoin, as the limited supply increases demand. Furthermore, the Bitcoin protocol also includes a halving mechanism that reduces the rate of Bitcoin creation in half every four years, contributing to its deflationary nature..

What Happens After All 21 Million Bitcoin Are Mined?

After all 21 million Bitcoin are mined, the supply of new coins will cease to exist. This event, known as the “Bitcoin halving,” is programmed into the cryptocurrency’s protocol as a means of ensuring scarcity and preventing inflation.

While this might sound alarming, it’s important to note that Bitcoin can still be used as a medium of exchange even without new coins being created. This is because transactions can be conducted with fractions of a Bitcoin, known as satoshis.

In fact, experts believe that the demand for Bitcoin could actually increase after all coins have been mined, as scarcity could drive up the value of each individual coin. This increased value would also make it more practical to use Bitcoin for larger transactions such as real estate purchases, as the value of the currency would be more stable.

It’s worth noting that the “halving” process will continue until the year 2140, which is when the final batch of Bitcoin is expected to be mined. At this point, the Bitcoin network will rely solely on transaction fees to incentivize miners.


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