Topic: From year 2099 till 2140 only one bitcoin will be mined... (Read 412 times)
You think that by that time someone will be interested in bitcoins?
From 2099 till 2140 (when the last satoshis will be mined) there will only be one bitcoin mined. By the end of the century, supply is virtually fixed and limited to the maximum of 21 million. For the following forty years, miners will be mining only one bitcoin...
One of the cool things about bitcoin is that it has a mechanism to prevent crazy production of bitcoins. It will be great to see how things pan out once the 21 million bitcoin is reached. Thanks
From 2099 till 2140 (when the last satoshis will be mined) there will only be one bitcoin mined. By the end of the century, supply is virtually fixed and limited to the maximum of 21 million. For the following forty years, miners will be mining only one bitcoin...
Wow
I am just thinking that time where will be btc price and it's demand. Still around BTC2.7M btc didn't mined yet and at this moment price average $10K per btc. 10 years ago 100 btc wasn't much valuer. Even many people buy pizza by spending lot of btc. But now 100 btc means a big amount. There is no doubt after 10 years btc demand and it's value both will be increase. 
From 2099 till 2140 (when the last satoshis will be mined) there will only be one bitcoin mined.
And in that year, I was already in the ground, whether the earth is still there or not. 
By the way, with the last coin to mine, with the limited supply only, what will be the price? Of course it will increase up highly, however, what's about the value? Well, this is too far to think because we also don't know whether it will still last or not.
No one could predict exactly what will happen after 120 years. But you can imagine where bitcoin price was 10 years back, and now imagine where it could go after 120 years.
Well, it may be 12 times higher than the highest increase so far, probably. Or on the contrary, it may have no value because the technology has changed. It is so difficult to predict those very long time later. I wonder how all miners in the world online mine the last BTC, will it influence the mining tools? What will happen to the mining equipment? Or, there may be other ways in how Bitcoin will be used or utilized in the real use case.
From 2099 till 2140 (when the last satoshis will be mined) there will only be one bitcoin mined. By the end of the century, supply is virtually fixed and limited to the maximum of 21 million. For the following forty years, miners will be mining only one bitcoin...
With most transactions (and most tx fees) being forced onto second layers, it will be interesting to see how this impacts miner incentive and their desire to secure the blockchain.
My best guess is that by that time, Bitcoin will have become a minority player in the space due to its inability to evolve.
I think it is still very early to give a final statement about Bitcoin's inability to evolve. There is a possibility that Bitcoin might become a minority player but who knows what surprises these Bitcoin developers have in their stash in order for Bitcoin to be that attractive for miners to stay on Bitcoin Chain when that time comes. Bitcoin supplies might have fixed supply but people and developers around it are constantly evolving and changing and continuously designing plans so we just cannot look at Bitcoin as stagnant water.
That's if we're still alive by then and also, the future is unpredictable. Bitcoin might not be the #1 coin then. A new coin might take over with greater features than BTC since it won't evolve or add new feature, only dominating because it's the first cryptocurrency.
The only thing that would happen is scarcity and increase in price due to more adoption.
The only thing that would happen is scarcity and increase in price due to more adoption.
With most transactions (and most tx fees) being forced onto second layers, it will be interesting to see how this impacts miner incentive and their desire to secure the blockchain.
My best guess is that by that time, Bitcoin will have become a minority player in the space due to its inability to evolve.
This depends on the future price of bitcoin, if the price increase and even if 100 satoshi worth a dollar, there will be nothing that will happen. Bitcoin will remain at the peak.
From 2099 till 2140 (when the last satoshis will be mined) there will only be one bitcoin mined. By the end of the century, supply is virtually fixed and limited to the maximum of 21 million. For the following forty years, miners will be mining only one bitcoin...
With most transactions (and most tx fees) being forced onto second layers, it will be interesting to see how this impacts miner incentive and their desire to secure the blockchain.
My best guess is that by that time, Bitcoin will have become a minority player in the space due to its inability to evolve.
This might be considered sacrilege by many, but will we even be seeing Bitcoin on the same algorithm by then? And no I'm not necessarily talking about a move away from PoW, but could we be seeing technological advances that either make PoW "easier" to achieve while still staying ahead of whatever threat it is people are coming up with (like quantum computing?). Or will tech branches simply veer away somewhere else?
Bitcoin won't be what it is today for sure. But hard to predict anything when even the very fundamentals of economy, money and society might have changed then.
Of course that it's hard to predict anything, this is so.distant future. Who pf.us will ever live in that time?
I really don't see the point to debate how will Bitcoin look like in about 100 years or so, it's hard to tell what will happen in a month from now, having in mind how fast situation around us and in the crypto market can develope.
We are not powerless, helpless, witnesses. It's our duty to shape the future with our actions of today.
From 2099 till 2140 (when the last satoshis will be mined) there will only be one bitcoin mined. By the end of the century, supply is virtually fixed and limited to the maximum of 21 million. For the following forty years, miners will be mining only one bitcoin...
In the first place, none of us here in cryptocurrency can tell what happen in the future. This probably your opinion, I don't know what is your basis for this matter. But for what matters most to me is that 2099 till 2140 is only your thought were you based it only on your analysis maybe or something. But it doesn't mean that's the exact things that will be going to happen and of course not!
From 2099 till 2140 (when the last satoshis will be mined) there will only be one bitcoin mined. By the end of the century, supply is virtually fixed and limited to the maximum of 21 million. For the following forty years, miners will be mining only one bitcoin...
With most transactions (and most tx fees) being forced onto second layers, it will be interesting to see how this impacts miner incentive and their desire to secure the blockchain.
My best guess is that by that time, Bitcoin will have become a minority player in the space due to its inability to evolve.
This might be considered sacrilege by many, but will we even be seeing Bitcoin on the same algorithm by then? And no I'm not necessarily talking about a move away from PoW, but could we be seeing technological advances that either make PoW "easier" to achieve while still staying ahead of whatever threat it is people are coming up with (like quantum computing?). Or will tech branches simply veer away somewhere else?
Bitcoin won't be what it is today for sure. But hard to predict anything when even the very fundamentals of economy, money and society might have changed then.
Of course that it's hard to predict anything, this is so.distant future. Who pf.us will ever live in that time?
I really don't see the point to debate how will Bitcoin look like in about 100 years or so, it's hard to tell what will happen in a month from now, having in mind how fast situation around us and in the crypto market can develope.
From 2099 till 2140 (when the last satoshis will be mined) there will only be one bitcoin mined. By the end of the century, supply is virtually fixed and limited to the maximum of 21 million. For the following forty years, miners will be mining only one bitcoin...
With most transactions (and most tx fees) being forced onto second layers, it will be interesting to see how this impacts miner incentive and their desire to secure the blockchain.
My best guess is that by that time, Bitcoin will have become a minority player in the space due to its inability to evolve.
This might be considered sacrilege by many, but will we even be seeing Bitcoin on the same algorithm by then? And no I'm not necessarily talking about a move away from PoW, but could we be seeing technological advances that either make PoW "easier" to achieve while still staying ahead of whatever threat it is people are coming up with (like quantum computing?). Or will tech branches simply veer away somewhere else?
Bitcoin won't be what it is today for sure. But hard to predict anything when even the very fundamentals of economy, money and society might have changed then.
From 2099 till 2140 (when the last satoshis will be mined) there will only be one bitcoin mined. By the end of the century, supply is virtually fixed and limited to the maximum of 21 million. For the following forty years, miners will be mining only one bitcoin...
The supply of bitcoin is fixed upto 21 million and after halving the mining rewarda get half as now it has reduced to 6.5 per block mined.And we are talking about the time which is very long to come and by that time the prices may be too high that miners will be interested in mining one bitcoin also and about the production cost of btc like electricity prices at the moment.So it depends upon time and current situations of that time but btc will always provide freedom to user for transactions in coming time and its the revolutionary digital currency of future. I believe bitcoin is all about freedom for the transaction which was one of the vision Satoshi had! It will only be a digital currency in the same manner as it is today. I mean thats the best guess we can have since there is another use of BTC
You can't have freedom without privacy, and you can't have privacy with Bitcoin.
LOLZ.
Thats not what I mean by that. I was talking about the stuff like amount of money you transacting, to whom you sending and from whom you taking. Its tax free money as long as you have it in BTC form. That is the kind of freedom I am talking here. May be you took literal meaning of word freedom.
At least in my country thats the freedom we must get since Taxation system is heavy. If you ever send huge amount to someone then it will reflect into your tax statement as pain in the back!
Perhaps I have seen many people converting their money into BTC form just to have some assets safe and tax free. And no I am not going to explain further how they send it without knowing the Chartered's.
So that kinda freedom! Yay!
It is certain that there will be a period that we cannot see. I don't think I can live another 100 years. Even if there is no corona, we are very likely to die in another outbreak.
We already know that these mining rewards will gradually decrease. However, as mentioned above, I think it is very difficult to predict today for 100 years from now.
I think every 4 years there is a halving that will occur in the suppy of bitcoin. Yep, the difficulty to mine bitcoin is hard as time goes by. But, imagine if it clearly done and all of bitcoins will be mined? Definitely, even it happens. Even all the predictions they said, we will never gonna see it because we are all gonna die. Imagine 2140 almost a century and a score before it happens. We already know that these mining rewards will gradually decrease. However, as mentioned above, I think it is very difficult to predict today for 100 years from now.
I believe bitcoin is all about freedom for the transaction which was one of the vision Satoshi had! It will only be a digital currency in the same manner as it is today. I mean thats the best guess we can have since there is another use of BTC
You can't have freedom without privacy, and you can't have privacy with Bitcoin.
From 2099 till 2140 (when the last satoshis will be mined) there will only be one bitcoin mined. By the end of the century, supply is virtually fixed and limited to the maximum of 21 million. For the following forty years, miners will be mining only one bitcoin...
With most transactions (and most tx fees) being forced onto second layers, it will be interesting to see how this impacts miner incentive and their desire to secure the blockchain.
My best guess is that by that time, Bitcoin will have become a minority player in the space due to its inability to evolve.
I believe bitcoin is all about freedom for the transaction which was one of the vision Satoshi had! It will only be a digital currency in the same manner as it is today. I mean thats the best guess we can have since there is another use of BTC
Within this years, bitcoin may have a significant price or no existence. Because if the price isn't too high, miners will not be there. And if bitcoin exists till then that one bitcoin will be more expensive than anyone can imagine.
My best guess is that by that time, Bitcoin will have become a minority player in the space due to its inability to evolve.
We are talking about 100 years advance and it's very possible that at that time, bitcoin will even not be existed You say so. But the thing is it might just get more popular over the time considering its value will grow exponential after each halving occurs.
As soon as we (those who are alive) will enter the dorm of 2099+ will see drastic rise in the prices of BTC
This people will consider throughout the 2050's or so and may consider it as best safe to put their money.
Don't forget 100 years from now population will grow as well and considering even 10-20% of them get into bitcoin business (since they have to grow first so lets consider 10% make it)then it will also push the BTC economy further ahead.
Bitcoin will have more popularity after couple of decades than it has today.
Out of the Box: You never know your grand children might just be paying with BTC everywhere around the world and it is the only currency of whole world.
Who knows every nation accepts it as unified currency just to synch up everyone, every banking sector etc.
**Endless possibilities are there. Miners might get lucky one since they will enjoy handsome fees out these worldwide transactions.
It's hard to guess the scenario on that time all of us are not there anymore, but my bet is if miner will continue to mine it must be worth $100k or more by then, to be attractive to miners to mine Bitcoin even if there is only one Bitcoin to mine.
The only question is how much electricity, maintenance and production equipment will cost in those days.Still, inflation is a very dangerous thing. And 100,000 dollars now, by the end of the century, can cost as much as 10,000 or even 5,000 now. Especially if there are financial crises, recessions or global pandemics.
What we can do now is to prepare the future for the next generation and make them ready for any obstacles that they probably face in their years.
Then we might want to take a long hard look at proof of work before it destroys our beautiful green earth.
^ 2099 I am already dead by then because I will be a hundred and thirty by that year which is really impossible for me to be still alive and most of us here. It is possible that during that year there will be no bitcoins that can be mined but we can't still assume that people on that year will still be needing bitcoins. Nevertheless, if we will consider it as a problem that the next generation will be facing in the future rest assure they will also find ways on how to resolve it or make options as a resolution. What we can do now is to prepare the future for the next generation and make them ready for any obstacles that they probably face in their years.
They may even be able to reduce the costs to accommodate the price so that it could still be bearable to continue mining.
No worries. I'm confident Blockstream will continue to mine the chain in order to keep their scam alive.
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