BTC counter reaches zero. Now what? - page 2.

odolvlobo

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Quote from: luigivessota on May 27, 2019, 11:13:47 AM

This discussion comes from this cool article that I read today: https://cryptotradernews.com/cryptocurrency/what-happens-when-the-bitcoin-counter-reaches-zero/
We will all probably be dead when this happens, but are there any thoughts on what the future will look like once every last Bitcoin has been mined?
Does BTC just end? Will transaction fees be enough to incentivize nodes to keep working?
I'm very curious about this. Thoughts?

Your question has been asked thousands (or perhaps millions) of times. Here is your answer: http://lmgtfy.com/?q=what+happens+when+all+the+bitcoins+have+been+mined

rdbase

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Quote from: Nolimitz84 on May 27, 2019, 12:51:55 PM

Honestly, I don't know what's gonna happen tomorrow...When this happens I am sure that there will be quantum computers that will replace the functions of the usual mining equipment.Well, in other words, just the kind of mining will take a very different form.

Exactly! Nobody knows what is going to happen in the future. It could go up or it could go down but not likely to drop to zero. And in the year 2140? None of us will really care what it does. We all will be dust by then. That is the only certainty in this scenario. Embarrassed

davit putra

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I think the calculation of bitcoin prices reaching zero will not occur in the near term, bitcoin is still an attractive coin and more likely to survive in the long term, think positively and not have to worry too much.

uneng

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Once every bitcoins are mined, we will just continue using it as currency.

Quote from: luigivessota on May 27, 2019, 11:13:47 AM

Does BTC just end? Will transaction fees be enough to incentivize nodes to keep working?

Only btc mining will be ended. By that time there will be more powerful sources of renewable energy and more powerful hardwares, so I think there will be alternatives to miners to create the transactions and keep the network operating.
I believe governments could keep the nodes working, through a system which people would only need to pay for maintenance, what means cheaper costs on transactions.

Ailmand

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Well we might not even be here when this happens. No one actually knows what will happen to bitcoin once all bitcoin had been mined. The market price of bitcoin would've been massive by that time, and I think by that time bitcoin already had a solid foundation and already adapted by the mass.

Genemind

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If ever this would happen, the remaining Bitcoins might still circulate around the market and the prices might be too high because there's a lack in supply.
However, this will take time and could possibly happen years from now. So it's really necessary to buy while there's still a good supply of Bitcoin.

ngusmin

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Bitcoin falls to zero, maybe if bitcoin has been abandoned, bitcoin is still valuable because bitcoin trust is very valuable. There is no need to think panic so far and still think positively that bitcoin still has a future.

figmentofmyass

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Quote from: luigivessota on May 27, 2019, 11:13:47 AM

We will all probably be dead when this happens, but are there any thoughts on what the future will look like once every last Bitcoin has been mined?

Does BTC just end? Will transaction fees be enough to incentivize nodes to keep working?

there's no point dwelling on the year 2140. the mining reward algorithm approaches the hard cap tangentially, so the vast majority of bitcoins will already be mined hundreds of years before then. after less than 3 decades from launch, the emission rate will only be ~0.39 BTC/block. (it started at 50 BTC/block)

so we should see the effects of this diminished inflation a very, very long time before 2140. and re what will happen, the answer is we don't know for sure. but the fee market appears robust and we've already seen blocks in the wild where transaction fees > block subsidy, so that gives some hope that fees will be sufficient to incentivize adequate miner security in the future.

Nolimitz84

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Honestly, I don't know what's gonna happen tomorrow...When this happens I am sure that there will be quantum computers that will replace the functions of the usual mining equipment.Well, in other words, just the kind of mining will take a very different form.

Artemis3

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Quote from: luigivessota on May 27, 2019, 11:13:47 AM

This discussion comes from this cool article that I read today
We will all probably be dead when this happens, but are there any thoughts on what the future will look like once every last Bitcoin has been mined?
Does BTC just end? Will transaction fees be enough to incentivize nodes to keep working?

I'm very curious about this. Thoughts?

In 2140? Probably nothing, by then the price would be quite stable, apparently slowly gaining value (because fiat is purposely being inflated). Hopefully more nations would have adopted Austrian economics, with full reserve banking, and the unfounded fears of deflation would be a thing of the past.

Or, by then, another crypto would have taken over. What with Quantum computers on every home and what not... (Yes i know Bitcoin can be made quantum computing resistant, doesn't mean quantum crypto coins won't become interesting).

Initscri

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Quote from: valentin68 on May 27, 2019, 11:39:21 AM

This will happen 120 years from now. The last bitcoin will be mined in 2140, from 2100 to 2140 it wil be mined approx 1 bitcoin/year (a guess),
until then there is sufficient time to discuss this. 50 years from now the quantum computers will be available.

Yep, and you may have to add some extra time in there. Quantum computing may be available in 50 years, but that doesn't mean the cost upon available will make it worth it to be used for mining bitcoin (w/ increased difficulty, etc).

There are SOO many variables involved here.

Needless to say though, I don't think BTC is going to just disappear or crash into non-existence. I do think it will be affected in the market, but I think it's anyones guess whether or not it will be a huge impact.

valentin68

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This will happen 120 years from now. The last bitcoin will be mined in 2140, from 2100 to 2140 it wil be mined approx 1 bitcoin/year (a guess),
until then there is sufficient time to discuss this. 50 years from now the quantum computers will be available.

BitBustah

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People will probably decide that having an inflation rate at zero is a bad idea. All they have to do is agree on the exe they click to have a higher inflation rate. If the majority agrees its not really an issue, just takes consensus.

luigivessota

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This discussion comes from this cool article that I read today: https://cryptotradernews.com/cryptocurrency/what-happens-when-the-bitcoin-counter-reaches-zero/

We will all probably be dead when this happens, but are there any thoughts on what the future will look like once every last Bitcoin has been mined?

Does BTC just end? Will transaction fees be enough to incentivize nodes to keep working?

I'm very curious about this. Thoughts?

Topic: BTC counter reaches zero. Now what? - page 2. (Read 462 times)