Topic: Future BTC's price - page 3. (Read 661 times)
At that time i think at least 1mil.$ or possible more for bitcoin. And maybe at that time there will be less miners possible and they will get more from fees than from mining. Anyway i don't we can live so much, so maybe only child of your grandchildren will see what happen then.
The idea is that bitcoin is widely used with millions of transactions on each block, so those fees will be enough.
I don't see that happening. It's close to impossible to happen actually, especially if you look back at how we're working on ways to scale off-chain rather than on-chain.
Interacting with sidechains or Lightning requires on-chain transactions though. So we can't have exponential growth of throughput off-chain without it heavily affecting on-chain fee dynamics. Either the block size will be increased or fees will significantly rise. I think it'll be some from Column A and some from Column B.
In the long run, miners will also be scooping up the fees generated through Bitcoin's side chains that they merge mine, so if the activity on these side chains explodes due to all the garbage that runs on top of them, miners will automatically benefit from that. In other words, there is no real need to worry about miners or the security of the network.
Is that the consensus opinion? I don't really keep up with this stuff, but I thought there were a lot of security issues with merge mined sidechains.
The future price of bitcoin is quite hard to determined because we are not sure if bitcoin will exist forever. But, there will be a time in the future that the price of bitcoin will become totally expensive and maybe all the people will use cryptocurrencies which may lead to increases of demand.
In the year 2136, after the penultimate BTC halving, the block reward will be 0,00000002 BTC (2 Satoshi).
If BTC mining is still profitable, how much could be 1 BTC cost?
Depends on the demand, even if there’s a lot of miners if there is no demand then the price will not change or go even lower so its too risky for the miners to keep on mining, because cost might get high. The future price can only determine by the market, let’s see if we are going to a bull run this year or not. If BTC mining is still profitable, how much could be 1 BTC cost?
In the year 2136, after the penultimate BTC halving, the block reward will be 0,00000002 BTC (2 Satoshi).
If BTC mining is still profitable, how much could be 1 BTC cost?
If BTC mining is still profitable, how much could be 1 BTC cost?
The miners don't receive only the block reward. They also receive the tx fee from all the transactions they've included into the block.
For example the block just mined had also 0.03988594BTC in fees. See: https://chain.so/block/BTC/557759
The idea is that bitcoin is widely used with millions of transactions on each block, so those fees will be enough.
I don't see that happening. It's close to impossible to happen actually, especially if you look back at how we're working on ways to scale off-chain rather than on-chain.
In the long run, miners will also be scooping up the fees generated through Bitcoin's side chains that they merge mine, so if the activity on these side chains explodes due to all the garbage that runs on top of them, miners will automatically benefit from that. In other words, there is no real need to worry about miners or the security of the network.
And who knows, miners might want to provide liquidity to the Lightning Network as well to generate more fee income.
For that to happen, there would have to be a solution to the scalability issue for the network to accommodate that much transactions and keep it running at a productive pace.
Scalability is not an issue now.
Scalability problem is just a marketing strategy, to make fools invest in shitcoins such as nano and bch. There is no issue with scalability now.
Quote
It would be an audacious attempt, to make a prediction for over a hundred years from now. And would simply be just choosing figures.
There is really no audacity . It's planned to happen, that is how bitcoin was designed.
From bitcoin white paper, by Satoshi
Quote from: Satoshi nakamoto
The incentive can also be funded with transaction fees. If the output value of a transaction is
less than its input value, the difference is a transaction fee that is added to the incentive value of
the block containing the transaction. Once a predetermined number of coins have entered
circulation, the incentive can transition entirely to transaction fees and be completely inflation
free
less than its input value, the difference is a transaction fee that is added to the incentive value of
the block containing the transaction. Once a predetermined number of coins have entered
circulation, the incentive can transition entirely to transaction fees and be completely inflation
free
In future miners will be rewarded almost exclusively with transaction fees.
The idea is that bitcoin is widely used with millions of transactions on each block, so those fees will be enough.
The idea is that bitcoin is widely used with millions of transactions on each block, so those fees will be enough.
For that to happen, there would have to be a solution to the scalability issue for the network to accommodate that much transactions and keep it running at a productive pace.
It would be an audacious attempt, to make a prediction for over a hundred years from now. And would simply be just choosing figures.
The idea is that bitcoin is widely used with millions of transactions on each block, so those fees will be enough.
I don't see that happening. It's close to impossible to happen actually, especially if you look back at how we're working on ways to scale off-chain rather than on-chain.
In the long run, miners will also be scooping up the fees generated through Bitcoin's side chains that they merge mine, so if the activity on these side chains explodes due to all the garbage that runs on top of them, miners will automatically benefit from that. In other words, there is no real need to worry about miners or the security of the network.
And who knows, miners might want to provide liquidity to the Lightning Network as well to generate more fee income.
Since the supply is limited and we are losing a lot BTC most often, I assume that it will at least $500k but, the matter is whether cryptocurrency is going to survive for this long time or not?
If BTC mining is still profitable, how much could be 1 BTC cost?
Nobody knows, and this question should not be in this board. Why is it important to know anyway? I'd say probably around $1 million or so. Don't believe me? That's fine, it does not matter anyway.
In future miners will be rewarded almost exclusively with transaction fees.
The idea is that bitcoin is widely used with millions of transactions on each block, so those fees will be enough.
So theoretically, if Bitcoin really become adopted as we expect, the prices are very low now as the reward is 12.5 BTC for each block plus fees (every 10minutes). The next halving will reduce to 6.25, which will probably lead to a great price increase
The idea is that bitcoin is widely used with millions of transactions on each block, so those fees will be enough.
So theoretically, if Bitcoin really become adopted as we expect, the prices are very low now as the reward is 12.5 BTC for each block plus fees (every 10minutes). The next halving will reduce to 6.25, which will probably lead to a great price increase
In the year 2136, after the penultimate BTC halving, the block reward will be 0,00000002 BTC (2 Satoshi).
If BTC mining is still profitable, how much could be 1 BTC cost?
If BTC mining is still profitable, how much could be 1 BTC cost?
The miners don't receive only the block reward. They also receive the tx fee from all the transactions they've included into the block.
For example the block just mined had also 0.03988594BTC in fees. See: https://chain.so/block/BTC/557759
In the year 2136, after the penultimate BTC halving, the block reward will be 0,00000002 BTC (2 Satoshi).
If BTC mining is still profitable, how much could be 1 BTC cost?
If BTC mining is still profitable, how much could be 1 BTC cost?
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