Topic: Bitcoin is done! Now this is what we are left with! - page 2. (Read 352 times)

It is very certainly that Bitcoin mining is going to stop one day and when that time comes, I think Bitcoin will become more useful and valuable because people will now see good reason to accumulate Bitcoin since they know that the can nit mine again. My problem is that when mining finally ends, the Bitcoin fee might increase just like the way we do see high congestion in Bitcoin transactions. It is still going to take some years for the Bitcoin mining to come to an end which is not even next few years coming. We are going to see huge value in Bitcoin when that time comes.

The price will not dump, bitcoin will become more valuable by then (2140) and more stable.

It will have both positive and negative impacts to me.
Positive impact - The other functions and uses of bitcoin will become more patronized. Bitcoin by then will then have people who will use it for transactions.
Negative impact - Bitcoin will no longer suitable for investment.

Yes people will be interested for the other functions it can serve.

I wouldn't imagine it - so let the next generation figure out how to do it. The current developer will switch to another developer - something good is to be expected, but if it's bad then obviously the impact will be really bad.

So far bitcoin will continue to grow and cases of its adoption will also increase along with the softening of government regulations. Bitcoin has become a means of payment in various places ^{[online and offline]} and will continue to grow from year to year. Just enjoy what you should have now and let the developer finish the work.

If mining stops - then nobody will process bitcoin transactions. But I believe that - as long as bitcoin have value then so long as miners will exist. Big miners might drop out if they can't turn a profit - but there will always be miners hoping to make a profit from their mining.

Welp. Here's the misconception about "miners and validators losing their jobs soon as all bitcoins are mined hurr durr" which could not be any farther from the truth. The fact of the matter is that not only do these miners get money from mining bitcoins, they also earn money through contributing computing power, which we then pay them through transaction fees. So just cause all bitcoins are mined doesn't necessarily mean these people who spent thousands of dollars on their rigs are left to eat in soup cans and beg on the streets. They'd have a prime avenue to take advantage of.

Furthermore, the economy will be even more empowered if all bitcoins are mined as there's nothing left to do by then but to hold, buy, and sell bitcoins, which will open more opportunities for people from outside the industry to get in and see bitcoin for themselves!

Plot twist: something happens (mass adoption of quantum computers etc) and 2140 turns into 2040. I'm not sure if this is possible though as Bitcoin algo adjusts in case the blocks start being found too frequently.

Ok, I got your point. So let's talk about an instant stop to the mining today. what will happen then? I am curious about that too.

Bitcoin mining serves two purposes, to bring new Bitcoins into circulation and to also confirm transaction fees. If there are no more new bitcoins to be mined it will still continue to be used to confirm transactions and keep the network operative.

The end to bitcoin rewards is not something that will be taken away instantly but will come gradually over many years if slow and paced reductions. If it will have a significant effect on the price or any other negative or positive one, we will notice them several years before the last satoshi is mined.

And Yes, people will still be interested in bitcoin.

- Jay -

The biggest concern I have about that time is if  we would still have enough miners to meet the transaction demand of users of the Bitcoin network when they're no longer incentivize to do so? Should be an interesting situation. I know there are people running nodes for test networks on alternative blockchain networks like ethereum out of the goodness of their heart but such networks have only a small fraction of Mainnet transactions.

Why would anyone offer their computing units if they get zero rewards in return?

1. No. I don't think that bitcoin will ever be stable the way fiat currencies are, but it doesn't have to be. Less stability makes it ideal for trades.
2. Positive. Scarcity is always good, as long as there's demand. Bitcoin is in demand, so if it becomes more scarce it will only increase its value.
3. Of course! Should you worry though? It's going to take decades until it's all mined out.

It was really hard to assume what will happen next and probably we can't witness that time. We'd forget that there are a lot of things that may change along its journey. In fact, who knows that Bitcoin will be dead before that time? Now, we only have trust that this will become long-term but can't assure forever. However, it was not the time to prepare for it and bothered us too much because I know that we can adapt to the situation when it comes and anticipated it before it happens. What we need is to keep updated and aware of the market situation.

mining will never end, there will be transaction fees. and by the year 2140 if BTC transaction fees are not enough to keep the chain going then i think its safe to say bitcoin failed and theres not reason to worry about it lol

Lol then what? I propose creating a list of every wallet holding at least 1 sat. That might take us until 2100.

I don't know why this kind of questions or thoughts come up with something that's so far in the future that any prediction is basically pointless. Humans mess around with so many things that we can call us lucky if we haven't started at least another global war or so within more than hundred years to come. Wo knows what kind of financial and/or economic crisis will emerge. A lot of this will have influence on the fate of Bitcoin.

Miners can still earn transaction fees with new blocks, we might have free energy when fusion kicks off, who knows. Dust off your crystal ball and good luck with your predictions.

If bitcoin mining is ended, there will still be transaction validation and miners will depend wholly on transaction fees. Bitcoin will still be in circulation as there will still be demand and supply. The major difference is that many will be unwilling to sell and many will be willing to buy. This gesture will try increase the price of bitcoin and also the price will be somewhat stablized.

I have long stopped thinking about bitcoin future because it is now in the hands of the people and the people will do whatever they want to do with it. Bitcoin has passed the stage of skepticism. We should just concentrate and enjoy it.

One day this will surely happen and this topic is discussed several times. Then miners will not get block rewards and they will get only transection fees for every confirmed transections. Then transection fees are expected to rise. But the demand will surely increase as the adoption will grow over time.

1. Halving manipulate price of Bitcoin and push up harder but it's not the only reason why Bitcoin is volatile. It's volatile because of its demand and usecases, user sentiments and hype. So we can't say how the situation will be in that time.

2. We will face both positive and negative impact. Because then probably transection fees will be much higher and also the demand will increase.

3. You just imagine about the advantages of Bitcoin and how much secure it is. It's still illegal in almost every counties but still people have too much interest. And if governments start legalizing Bitcoin then it will create new Era of Currency system.

None of us will be around by 2140 so it doesn’t really matter. Bitcoin devs will probably switch to PoS or something similar way before than 2140 and save bitcoin. Billions of dollars at risk. Thousands of businesses depend on bitcoin. Bitcoin will find a way to survive.

If it doesn’t, we will learn from our mistakes and make a better one. This is how the tech evolves in the end.

First of all that thing is not going to happen in our life because most of us will already be dead by 2140 because no body is yet known to live over 120+ years and that's why I think almost all of us will be resting in peace before 2140. However, if we just want to make a scenario to predict that what's going to happen if that day happens in the life of our grand-children then still that's not possible because things will be very different in 2140's, and who knows that humans will still be using this finance system or they will have moved even beyond quantum computing.

Let's still make a prediction for curiosity only, I believe that if all bitcoins are minded then things will be different in crypto market. In that time the price of a single Bitcoin would be over $10 million in value, and anyone who holds a Bitcoin would be among the richest people of the time. The value of $10 million will be of this day, and not of the time where the value of fiat would go so down that $10 would not be sufficient to buy the good that it can but now.

There won't be any miners, and that's why everyone would be able to send and receive bitcoins without any issues. There won't be any mining fees for the transactions and that's why anyone could be able to send/receive bitcoins without any  delay issues. There is a chance that the miners will live with the transaction fees because they won't be able to mine any more blocks or bitcoins. However, if the mining fee is gone then the fees of transactions could be somewhat higher than today's rates. Other than that nothing will be changed in the ecosystem of Bitcoin, and anybody would be able to use it like today's time.

They mean the reward, not the actual mining, and that is determined by the code. Unless something out of the ordinary happens in terms of difficulty adjustments, it's also nearly set in stone.


Then you're going to have a hard life since you're going to be stuck with it till you die and even on death bed, you won't find the answer.
Now, till then, let's make a list of the 1056 topics that have been discussed this already since the beginning of this forum:

1. what happened to bitcoin after mining of 21 million
2. After mining all bitcoin
3. When will bitcoin mining run out?
4. What will happen in the mining world with Bitcoin once all coins are mined?

...
1055.
1056.

Jumping off to the day when mining is over. Assuming that Bitcoin's network is still fine and clear as crystal. That only means that there's still interest from the people and money is still there. Miners will keep on mining because they have to confirm the transactions. The price will still be dependent to the demand of the market. At the end of the day, the answers will just give you satisfaction from knowing what could potentially happen but then, we won't be existing by that time if we tick in the reality.

This thought came to my mind today.

What if there's this news that says "Bitcoin mining is over. All the Bitcoin has been mined and all the leftovers are burned. We are left with what we have in our hand"?

I know Bitcoin mining will be over one day. Many sources say that it will be over in the year 2140. So let's just imagine ourselves at that point in time and discuss how the situation will play out. That's why I am saying that it may happen today. How this will impact the whole crypto world?

• Will we be able to see stability in Bitcoin prices? Or price dump? how will this play out?
• Positive impact or negative impact?
• Will people still be interested in Bitcoin?

I can not shake off this curiosity in my mind. So let's talk about that. Tell me your thoughts. What this event is going to do to the crypto world.

Edit: This topic has already been discussed many times as many of you guys told me. So let's skip that "all will be mined one day". Can you guys share your thoughts on what will happen if mining stops today? What kind of sentiments will it bring to the market and those above questions remains the same.