Topic: imagining what he will be like the last halving (Read 398 times)

Really?!

It's actually something to be concern about, because if Bitcoin failed to keep at a very good price by then it will spell a disaster for Bitcoin, I know miners will still get paid because of transactions but that is if the payment is going to worth running the machines, I mean the miners, think about it very well, the last halving must have greatly reduce the reward anyways and what will make this nothing to worry about is the future value of Bitcoin at that very last stage, maybe that's when the new Bitcoin will be realized, not many people are seeing this as something to be worried about but I do because it's a critical situation. It's good to be hopeful but I do hope that before the last halving happens Bitcoin would have been well-adopted and acceptable in every countries around the world or else.

There is a chance that I will purchase a bitcoin for $5 million.

Miners don't need to be creative during that time for them to keep on profiting from their miners. They'll stay and will still get paid to mine for the confirmation of transactions.

I am thinking about how many zeros (not decimals) it will be for the price of Bitcoin if ever it's still alive by that time.

Well most of us are waiting the next bitcoin halving and speculate about how it will affect the network, mining, fees, and prices

But I wonder how the bitcoin environment will be in years of the last halving. (I know i am not going to live to see that but in any case i want to dream a little with that).

So, picture this: It's near the year 2134 or 2138, and we've experienced the last-ever bitcoin halving. At this point, miners are going to get only 1 Satoshi per mined block, plus transaction fees. It's a far cry from the current scenario and for the next period of 4 years only 210000 new satoshis will be created. That made me think that we need to start trying to save every satoshi available.

For miners, it's safe to assume that transaction fees will go through the roof. As the mining reward shrinks, miners will need to get creative to keep their operations profitable. They might start looking into greener, more sustainable energy sources to cut costs and invest in better mining hardware to maximize their returns.

On the other hand, for folks like us, the incentive to spend our bitcoins may decrease. With rewards diminishing and fees on the rise, there's a stronger argument for holding onto our digital treasure unless it's absolutely necessary. Think of it as a futuristic savings account where every satoshi saved feels like a victory.

In the end, none of us may live to see the year 2138, but it's exciting to imagine how the world of bitcoin will evolve after the last halving. The balance between mining rewards and fees, along with the motivations of miners and users, will surely transform. Who knows what kind of innovative solutions and changes are in store? Until then, let's keep dreaming and HODLing those precious satoshis!

What are your thoughts about the future of bitcoin in times of the last halving ?

I believe if Bitcoin still exists during this time, its price is more likely to be stable and not swing wildly when there is negative/fud or hype around.

Yes, block rewards won't play any major role anymore because Bitcoin is designed that way.
Even around 2100, block rewards won't play any major role anymore because rewards will be very tiny.

Routing failures is one of a kind. It's been 7 years and the failures in transaction finality are very apparent. From my experience, one channel is just not enough, even with the most reliant and well connected node. And I'm not talking about high-value transactions, barely the minimum ($1-$30).

But if only that was the only problem. To retain self-custody, you still need to run a full node 24/7, or have an Electrum-like lightning wallet, with watchtowers. And then other problems like backing up in an easy, non-digital way. Ultimately, there isn't lots of development.

What do you mean by that? Routing failures or something else?

The problem will become much more apparent than it currently is, much, much sooner than in 2140. In 20 years from now, there will be less than 50 thousand bitcoin left to enter circulation. The block reward will be less than 0.2 BTC, and a four-years later, even less than half of 0.1. Transaction fees will be the main source of income long before 2140, and perhaps even before 2040. Bitcoin will remain experimental until then. In practice, there will be people transacting, but there's a bet here: There have to be much more than they currently are, and the median fee must rise either.

That means, network dependent on second layers. And as per my experience goes, they don't work quite well yet.

I’m curious about this too since transaction fee is fixed in sats value while it’s equivalent value in fiat will grow exponentially in future due to the price discovery of Bitcoin.

I doubt people will still use Bitcoin if the fee will grow more zero in fiat value since this is not economical. Maybe there will be some adjustment in the future the amount of transaction fee in sats in proportion with the fiat value.

You are right, because the scarcity and other features of BTC has proved that it is a great hedge against inflation which means in current era inflation is so higher than then the inflation which was in 2010. But still the deflationary nature of BTC still made profit to all bit coiners. It indicates that, at the last halving miners will still make profit and who knows till then what type of green energy sources will be discovered or invented.

In the end, none of us may live to see the year 2138, but it's exciting to imagine how the world of bitcoin will evolve after the last halving. The balance between mining rewards and fees, along with the motivations of miners and users, will surely transform. Who knows what kind of innovative solutions and changes are in store? Until then, let's keep dreaming and HODLing those precious satoshis!

What are your thoughts about the future of bitcoin in times of the last halving ?

Nevertheless, it looks not interesting if an investor only want to take profit with one cycle, it is still very good if you can wait like 2 or 3 halvings and take profit. Not too far, from 2017 to 2022, price increases 3 times. If I hold it till 2024 and 2025, price can increase to $100,000 that is 5 times from 2017 all time high. It's very good profit and must be taken into account that risk of losing money because of rug pull, dead project with Bitcoin does not exist.

When we talk about profit, we must combine it with risk. Risk and profit come together.

While I believe Bitcoin will keep increasing in price, price increases will slow down every cycle.
It's already happening, where all time highs are getting less impressive every cycle:

2014: 1400 USD
2017: 19000 USD
2022: 65000 USD

Next all time high will be probably around 100k USD, making an x2 from 2022.
Yes, we can't predict it exactly but a similar increase like we had earlier (from 2014 to 2017) is very unlikely from today's perspective.

What are your thoughts about the future of bitcoin in times of the last halving ?

For miners, it's safe to assume that transaction fees will go through the roof. As the mining reward shrinks, miners will need to get creative to keep their operations profitable. They might start looking into greener, more sustainable energy sources to cut costs and invest in better mining hardware to maximize their returns.