When is the proper time to purchase bitcoins? The common answer is “when its price is low enough”. Considering the current trends and figures, the time may be now.
In the immediate future, when the 14,000,000th BTC is mined, it will mean that the 2/3 of the overall mining limit of 21 million bitcoins is already “issued”. Now, you may think of the remainder 7 million as a kind of reserve, as this amount will not be mined in the few coming years, but there are still several good reasons for you to start buying bitcoins for yourself already now.
If you’re expecting Bitcoin price to eventually become stable, you need to wait for no less than five or six years for it happen, as by this time all the allotted 21 million bitcoin may finally be mined, with every single BTC belonging to a certain cryptocurrency enthusiast. Unfortunately, despite so many bitcoins already mined and circulating in block chain, their value is still far from being stable, and should be expected to further fluctuate.
But what happens when all these millions of BTCs are finally mined in 2021, 2022 or 2023? Will it still be technically possible to continue the process? Many think it needs to be, as there will still be great demand for new bitcoin transactions, while others are less optimistic, saying that only existing coins will be circulating in the system, and the emission of new ones will be put under a ban. The first scenario is more likely, but it is also more than just possible that high demand and scarce supply will keep Bitcoin’s price volatile, which is not something that will cause prospective buyers to purchase bigger amounts of BTC. Actually, this may even happen before all 21 million coins are generated, when it becomes apparent to stakeholders that mining is just about to cease for natural reasons.
The best advice to Bitcoin users, buyers and investors that can be given now is to make everything they can to increase the usage of the cryptocurrency by making payments in it – at the moment, there are already several hundreds of merchants and service providers, including BTC casinos and gambling websites, gladly accepting Bitcoin from their customers.