After mining all bitcoin | Bitcointalksearch.org

Febo

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Quote from: The_Dark_Knight on June 05, 2018, 08:08:57 PM

Quote from: Febo on June 01, 2018, 12:18:24 PM

Quote from: The_Dark_Knight on May 28, 2018, 08:43:04 PM

Quote from: altcoinanalyst1 on May 25, 2018, 09:35:58 AM

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 is very difficult to predict what the price of bitcoin is going to do in the next week so it is almost impossible to predict what it is going to happen when the moment in time you are talking about is not going to happen until the next century, so do not worry too much about such a thing because most people here in the forum are not going to see that day.

But most of us will hopefully see the day when coinbase will get that low that Bitcoin blockchain will not be secured enough just from it. So it is our problem.

It is true the block reward is getting smaller but as we know it was the plan of satoshi the fees will be enough to sustain the miners and that is what will happen, if at some point that is not the case then only the most profitable miners will keep operating and when some of them disappear there will be enough profits for the rest of the miners so I'm not really worried.

But fees will not be enough. This will be seen already in 10-20 years. So we will hopefully live to see it.

ThePunisher49X

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It will not be so unpredictable in the price from day to day.
The price will be more stable.

Golftech

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Quote from: intoy_victor on June 01, 2018, 06:50:31 PM

After that bitcoin will starting to lose btc price. But there are many altcoin has a potential to follow or overtake what bitcoin did. When there is leaving, there are always incoming and much better that the first came.

We can't say that right away, there's also chances that the value will rise if adoptions occurred,imagine if Bitcoin will be utilize and use in a daily transactions how big it can be in value, it's only 21M compared to the numbers of people and businesses around the world, there's also a high chance that Bitcoin will be mooning more.

The_Dark_Knight

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Quote from: Febo on June 01, 2018, 12:18:24 PM

Quote from: The_Dark_Knight on May 28, 2018, 08:43:04 PM

Quote from: altcoinanalyst1 on May 25, 2018, 09:35:58 AM

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 is very difficult to predict what the price of bitcoin is going to do in the next week so it is almost impossible to predict what it is going to happen when the moment in time you are talking about is not going to happen until the next century, so do not worry too much about such a thing because most people here in the forum are not going to see that day.

But most of us will hopefully see the day when coinbase will get that low that Bitcoin blockchain will not be secured enough just from it. So it is our problem.

It is true the block reward is getting smaller but as we know it was the plan of satoshi the fees will be enough to sustain the miners and that is what will happen, if at some point that is not the case then only the most profitable miners will keep operating and when some of them disappear there will be enough profits for the rest of the miners so I'm not really worried.

intoy_victor

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After that bitcoin will starting to lose btc price. But there are many altcoin has a potential to follow or overtake what bitcoin did. When there is leaving, there are always incoming and much better that the first came.

Bagaji

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The value of Bitcoin will so much increase because the demand will be so high as a result of low or supply at all into the market and that is when all the speculation of Bitcoin in the moon will come to fulfilment. I see Bitcoin reaching $50,000 at the time we reach such height in the total supply of Bitcoin.

bitcoin31

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Until now there's a lot of bitcoin did not mine, so I don't think 21 million is enough for us for this year. But incase the demand out of stock they will add more bitcoin for sure and the person who do this is the one and only satoshi nakomoto the founder of the bitcoin and the price for sure is very high.

Febo

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Quote from: The_Dark_Knight on May 28, 2018, 08:43:04 PM

Quote from: altcoinanalyst1 on May 25, 2018, 09:35:58 AM

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 is very difficult to predict what the price of bitcoin is going to do in the next week so it is almost impossible to predict what it is going to happen when the moment in time you are talking about is not going to happen until the next century, so do not worry too much about such a thing because most people here in the forum are not going to see that day.

But most of us will hopefully see the day when coinbase will get that low that Bitcoin blockchain will not be secured enough just from it. So it is our problem.

The_Dark_Knight

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Quote from: altcoinanalyst1 on May 25, 2018, 09:35:58 AM

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 is very difficult to predict what the price of bitcoin is going to do in the next week so it is almost impossible to predict what it is going to happen when the moment in time you are talking about is not going to happen until the next century, so do not worry too much about such a thing because most people here in the forum are not going to see that day.

Febo

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Quote from: altcoinanalyst1 on May 25, 2018, 09:35:58 AM

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.

Problems will starting way before that. Because coinbase will be to small to secure network. Bitcoin protocol will need to get changed to add more coins to coinbase. And that will need to happen in next 20 years time.

Jaslinbor28

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Agreed with you. but 1 btc can be divided into 1000000 pcs which is big amount. And I believe that this small amount can be enough to be traded for the future. However, there might come any solution if any shortage seen.

garybyerz

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Yes around 80% of bitcoin has been already mined and only few amount of bitcoins are left. If all the bitcoins are mined the price of bitcoin will be soar.

voltagecrypto

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i m willing to trade on bitcoin, can't effort it. im thinking what would happen to the price after mining of 21m. Then bitcoin will be as precious as Dragon eggs.

Ahiaba

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That shows the end of supply of Bitcoin and miners will change to another alternative crypto currency to keep them in business. And the value of Bitcoin will skyrocket in a positive direction since its demand will be higher than its supply.

creeps

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We don’t know what will happen in the future, but technically if the supply is now limited the price will be high in value and maybe there will be no more demand or what. I still believe that bitcoin will be a great currency of the future and will keep on supporting this kind of technology.

oseikuf44

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After all biticoins been mined, the total supply will now be limited. If bitcoins is still essential for traders, then the few people who holds the total supply will determine the price they will like to sell it, and hence more money will be chasing few bitcoins and the price will be very high.

elncrow

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Well , I’m afraid that the prices of Bitcoin will rise very high then. It would be very difficult to invest on Bitcoin then, as it would go expensive then. Let's see what happens!

Claudyah

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it will not happen when bitcoin faces a period of crisis like a few more populations will remain the price will be more and more difficult to get before they run out the miners will no longer be able to get bitcoin cheaply.

goaldigger

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After all bitcoins are mined, it would greatly affect its value. Insufficient supply, high demand will lead to greater value. It doesnt mean that if there are no BTC to be mined it would be extinct. All of the existing coins mined are just reciprocating throughout the entire bitcoin world. Market will also changes and maybe some altcoins will replace it.

Ararbermas

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Quote from: altcoinanalyst1 on May 25, 2018, 09:35:58 AM

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.

then after bitcoin mined there will be a minor fluctuation of the growth rate IMO. but it doesn't mean it will collapse hard 'cause there's still a supply that can help bitcoin to stay on its circumstance. which is the demand and supply from all people who support bitcoin such big investor and holders that can control as well the growth rate nowadays.

Clark05

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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.

samiraetn

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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.

angelfaria

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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.

cryptoroi

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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.

Jating

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Quote from: altcoinanalyst1 on May 25, 2018, 09:35:58 AM

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.

superstarbtc

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after mining all the bitcoin the bitcoin will be in circulation at high price and the daily trading will happen as usual

AlisaWhishie

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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.

oli123

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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.

hisslyness

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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.

Denker

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Quote from: altcoinanalyst1 on May 25, 2018, 09:35:58 AM

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.

batang_bitcoin

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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.

bobo012

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Quote from: altcoinanalyst1 on May 25, 2018, 09:35:58 AM

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.

SUDARMONO

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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.

mindrust

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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.

SUDARMONO

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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.

forumsehat

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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.

mk4

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Paldo.io 🤖

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.

gobingo

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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.

whoisyourking

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Quote from: altcoinanalyst1 on May 25, 2018, 09:35:58 AM

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.

joebrook

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Quote from: catchandeat on May 25, 2018, 09:51:23 AM

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.

yusupjatigumilar

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Quote from: Cult on May 25, 2018, 09:39:32 AM

I don't think there will be a significant change after all bitcoins are mined. Mining powers will still be used for processing transactions. Generally, bitcoin mining will fade significantly, especially, if the Lightning technology is successful.

sorry a little add, I agree with your opinion but what I worry about is that if mining is no longer done, then there will be no validated transaction, of course, this will make bitcoin can not be used and no longer valuable, because as I am miners get bitcoin from reward on a block containing millions of transactions, will the miners do the mining without when there is no reward?

catchandeat

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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

yusupjatigumilar

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I think the price of bitcoin will soar because there will be no more bitcoin created, it is very closely related to supply and demand, but if it does not happen then the possibility of bitcoin will be destroyed

Cult

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Enter the future of gaming

I don't think there will be a significant change after all bitcoins are mined. Mining powers will still be used for processing transactions. Generally, bitcoin mining will fade significantly, especially, if the Lightning technology is successful.

altcoinanalyst1

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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.

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