Topic: After mining all bitcoin - page 2. (Read 480 times)
As of now I don't think all bitcoin mined because like today the price decreased so the total bitvoin pieces will be circulated and the supply of the bitcoin is enough for sure. But incase the bitcoin supply has become 0 satoshi will do a soulution for that so don't worry.
I don't think ther will be any major changes after mining all 21 million coins. Bacause the trade will still be going on and transaction will be continued. So there is nothing to bother much about what will happen after all the coins being mined.
Anyone can invest on bitcoin and it is very easy to use. If you invest on bitcoin that’s the meaning is you connected with crypto currency. Bitcoin is leading crypto coin in this market.
21m bitcoin is a huge amount. Right now the price is quite low so that the demand increases and people buy more bitcoins. That's why the price is not getting too much high. But, gradually,when the demand will increase more, the price will get so high that there're will be a less amount of people who would be able to do transactions. At that time the demand will also fall.
There are only 21m Bitcoins available for mining. Once all of those Bitcoins have been mined, no more bitcoin will be created then. What do you think will happen to bitcoin and its market after all mining are done.
Maybe you should ask yourself if you are still here in the face of the earth if ever the last bitcoin is mine because I'm pretty sure that everyone here will not see that fateful day.
Obviously when all bitcoin are mine, there will be none. But it doesn't mean that trading will stop, because there will be a lot of bitcoin users that will just HODL on it because the price will definitely skyrocket because its going to be scarce. Price may fetch in the 6 or even 7 digit mark. So its going to be business as usual for every bitcoin trader out there if ever they see this day happen.
after mining all the bitcoin the bitcoin will be in circulation at high price and the daily trading will happen as usual
It's necessary to understand that this will not happen overnight, as the ecosystem is already constantly adopting to the miners' reward decrease - actualy it halves every 210,000 blocks. You can check all the details here - https://www.bitcoinblockhalf.com - pretty interesting, if you care about the apocalypse of mining.
Let's just hope that the mass adoption of cryptocurrencies will happen sooner then the bitcoin transaction fees become unaffordable. Personally I hope to see some next-gen blockchain coins on the top instead of bitcoin.
Let's just hope that the mass adoption of cryptocurrencies will happen sooner then the bitcoin transaction fees become unaffordable. Personally I hope to see some next-gen blockchain coins on the top instead of bitcoin.
Unlike all other currencies, the number of bitcoins is limited to 21 million. Currently not all are on the market - this will only happen in 2140, when all the bitcoins will be mined, although most will be on the market already in 2030.
The first to exclude the cryptographic hash gets a reward (at the beginning it was 50 BTC, today it's 12.5 BTC) and the ability to create a new block. There are transactions in this block and is currently about 1.03 MB in size.
Each transaction has a fee attached to it. The person who creates the block will receive, in addition to the reward, all fees. Therefore, the block will probably enter transactions with the highest fees.
So even if Bitcoin almost reaches its limit just before 21 million btc, the miners will benefit from transaction fees and they should hold the bitcoin in circulation.
The first to exclude the cryptographic hash gets a reward (at the beginning it was 50 BTC, today it's 12.5 BTC) and the ability to create a new block. There are transactions in this block and is currently about 1.03 MB in size.
Each transaction has a fee attached to it. The person who creates the block will receive, in addition to the reward, all fees. Therefore, the block will probably enter transactions with the highest fees.
So even if Bitcoin almost reaches its limit just before 21 million btc, the miners will benefit from transaction fees and they should hold the bitcoin in circulation.
Which is why we need to keep the block size small. This will help keep transaction fee higher and intern keep miners validating/confirm transactions. Develop Layer 2 Scaling solutions for everyday use and only use onchain transactions as needed, ie opening and closing LN channels or some other Layer 2 Scaling solutions.
Also, just a little trivia, there will be slightly less than 21,000,000 BTC mined by 2140.
Also, just a little trivia, there will be slightly less than 21,000,000 BTC mined by 2140.
There are only 21m Bitcoins available for mining. Once all of those Bitcoins have been mined, no more bitcoin will be created then. What do you think will happen to bitcoin and its market after all mining are done.
The last coin will not be mined until 2140. So this is still a very long time.
But as the reward for each block gets cut in half every 210k blocks (~4 years), we will already have a very small reward from 2032 on (1,5625BTC/Block).
That's in 14 years from today's point of view. At that time we hopefully have a very high price per Bitcoin and also hundreds of millions of people using the network so that transactions fees are attractive enough for miners as well.
We are dead by that time though but if bitcoin is still in great demand by that time, people will do the same thing of keeping / hoarding / holding it.
That will be the basis of one's wealth if you have bitcoin. Due to the limited supply then limited people will have it so this will make everyone to make the demand higher for lessening the supply in the market. Let the future decide, it's not our problem when all coins are mined.
That will be the basis of one's wealth if you have bitcoin. Due to the limited supply then limited people will have it so this will make everyone to make the demand higher for lessening the supply in the market. Let the future decide, it's not our problem when all coins are mined.
There are only 21m Bitcoins available for mining. Once all of those Bitcoins have been mined, no more bitcoin will be created then. What do you think will happen to bitcoin and its market after all mining are done.
It will continue to be very sucesfull. It was meant to come to that point. Transaction fees will be enough to cover everything and to make profit.
Economics and emission of bitcoin are a perfection.
If you want to independently use cryptocurrency it is very easy, because you are trading in crypto then you will be able to earn income from cryptocurrency, or you can also to invest in coin ico.
Mining will continue till 2140. So it not a concern to our generation. When that time comes, bitcoin will become so valuable, miners will still be able to make so much money from on-chain transactions anyway. They won't need any block rewards and with the LN, people who don't wanna pay those fees will be able to send money nearly for free.
Now the amount of bitcoin that has been mined is about 18 million bitcoin, and I think after the bitcoin runs out, the price of bitcoin will drop because of the fear of the future bitcoin usage.
The problem with depleting bitcoin after being mined is overwhelming and often asked by many people, and I think it will happen in a very long time, but I think the bitcoin price will become more expensive due to the scarcity of bitcoin.
I personally think bitcoin will ever so slightly be less volatile, due to no more bitcoin being minted due to all miner rewards then being solely from transaction fees. The effect in my opinion will be very very miniscule and insignificant though.
Will it soar? It completely depends if there's still enough demand. A scarce asset with little to no demand wouldn't rise in price.
Will it soar? It completely depends if there's still enough demand. A scarce asset with little to no demand wouldn't rise in price.
It is true that there are 21 million available all the amount of bitcoin available around the world, and I think that if the amount of bitcoin is exhausted then bitcoin will rise very high.
There are only 21m Bitcoins available for mining. Once all of those Bitcoins have been mined, no more bitcoin will be created then. What do you think will happen to bitcoin and its market after all mining are done.
If that happened and you got bitcoin in your wallet you arw one of the most lucky person who hold your bitcoin with huge price. Because the supply is limitted and if the demand in that time is huge then we are all rich. Hoping that maybe bitcoin will hit the 100k mark if the supply is limitted.
We will definitely use forks, that is the logical exit. And this is happening now — lot of people prefer altcoins over Bitcoin just because Bitcoin is too expencive for most of them
People will see be using bitcoins but I believe that after all the bitcoins has been mined, the value is going to go higher and most people will hold on to it along it very stable in the process. Jump to: