Here is what I think will happen
https://www.youtube.com/watch?v=JmzuRXLzqKk
Topic: Bitcoin's Fate In 2140 - page 4. (Read 3358 times)
Bitcoin will have big, but i mean BIG adoption till that time and miners will be happy to mine for fees reward. Till that time USD, EUR and rest of fiat will be only numismatic assets.
We all hope that there will be mass adoption. But many people still remember the Mt Gox incident. Bitcoin would be much better off if that hadn't happened. I asked my friends recently what they knew about bitcoin, and they claimed it was a scam. I asked them why, and they told me about some exchange that ran away with alot of BTC... oh well. Mt Gox has scarred the bitcoin community.It is 2015 now mate and we are talking about 2140. I dont think Mt Gox incident will be relevant 125 years from now if we exclude history books and school.
Bitcoin will have big, but i mean BIG adoption till that time and miners will be happy to mine for fees reward. Till that time USD, EUR and rest of fiat will be only numismatic assets.
We all hope that there will be mass adoption. But many people still remember the Mt Gox incident. Bitcoin would be much better off if that hadn't happened. I asked my friends recently what they knew about bitcoin, and they claimed it was a scam. I asked them why, and they told me about some exchange that ran away with alot of BTC... oh well. Mt Gox has scarred the bitcoin community.
Bitcoin will have big, but i mean BIG adoption till that time and miners will be happy to mine for fees reward. Till that time USD, EUR and rest of fiat will be only numismatic assets.
So, everyone knows that there will be no more block rewards when we reach ~2140. But what do you guys think will happen after?
I personally visualise 2 possibilities:
- Bitcoin is already widely adopted, so the giant community will keep the system running and functioning. Maybe not as easily as today, but with a big enough community, the transaction fees will be high enough for miners to keep on doing their thing.
-Bitcoin has a small community, much like today, and starts to crumble without support of miners, and mining fees will become huge, and so the users will leave. Bitcoins will be left in the transaction pool, and the Bitcoin ecosystem will come to a halt.
Are there any possibilities I might have missed? What do you guys think?
I personally visualise 2 possibilities:
- Bitcoin is already widely adopted, so the giant community will keep the system running and functioning. Maybe not as easily as today, but with a big enough community, the transaction fees will be high enough for miners to keep on doing their thing.
-Bitcoin has a small community, much like today, and starts to crumble without support of miners, and mining fees will become huge, and so the users will leave. Bitcoins will be left in the transaction pool, and the Bitcoin ecosystem will come to a halt.
Are there any possibilities I might have missed? What do you guys think?
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