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Topic: a doubt (Read 793 times)
What will happen after all bitcoin is mined? And what is the estimate of when this will happen?
Mining is continuous process to help the Bitcoin to transfer via various blocks with the transaction fees and without fees. This will consumes some power like electricity or solar power to do it. After this halving mining volume was reduce as 16000 plus only. For more info apart from this just google it read or see the videos in YouTube.
What will happen after all bitcoin is mined? And what is the estimate of when this will happen?
Plus the fact that it will put an end to price inflation in the crypto world.
If the fees were insufficient, some miners will drop out, the diff will decrease, the remaining miners will mine more blocks, thus collect more fees... everybody happy
Bitcoin is genius in its simplicity
What will happen after all bitcoin is mined? And what is the estimate of when this will happen?
probably nothing... Miners will probably continue to mine blocks if the miner fee's that were included in the transactions were sufficient for him/her.
If the fees were insufficient, some miners will drop out, the diff will decrease, the remaining miners will mine more blocks, thus collect more fees... everybody happy
What will probably happen tough is more and more private keys getting lost over time, so more and more bitcoin will go out of circulation. Combine this with better adoption (more people using bitcoin), so the price will probably rise (long term)
Thats correct, lesson? You must invest now becauss we all expect that bitcoin price will go up. I know bitcoin is about $600 now, but its still cheap. Its a long term investment.
That's over a hundred years from now so it's not terribly important. It won't really have any effect, there will be other currency's that will work hand in hand with BTC or exceed BTCs usefulness by that point. My best guess is there will be another currency that completely replaces BTC while BTC holds a fair amount of it's current worth being the original crypto..
Next time you can post on Beginners and help section or better yet, search it on internet and read more about bitcoin.
Miners are getting more fees everyday because of the size of the block, maybe when the all bitcoin goes mined the fees will be high as.
And next time put the question on tittle.
Miners are getting more fees everyday because of the size of the block, maybe when the all bitcoin goes mined the fees will be high as.
And next time put the question on tittle.
You can Google this question:
http://bitcoin.stackexchange.com/questions/10486/when-will-the-last-bitcoin-be-mined:
http://bitcoin.stackexchange.com/questions/10486/when-will-the-last-bitcoin-be-mined:
Quote
'The estimate is 2140 based on the block reward halving frequency of four years. According to math and knowledge that there are 32 halving events, in 2136, the block reward will yield 0.00000168 BTC per day, which is 0.00000042 BTC per block. That's 42 satoshis.'
What will happen after all bitcoin is mined? And what is the estimate of when this will happen?
probably nothing... Miners will probably continue to mine blocks if the miner fee's that were included in the transactions were sufficient for him/her.
If the fees were insufficient, some miners will drop out, the diff will decrease, the remaining miners will mine more blocks, thus collect more fees... everybody happy
What will probably happen tough is more and more private keys getting lost over time, so more and more bitcoin will go out of circulation. Combine this with better adoption (more people using bitcoin), so the price will probably rise (long term)
What will happen after all bitcoin is mined? And what is the estimate of when this will happen?
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