Topic: Is Bitcoin designed to last forever? - page 13. (Read 9882 times)
It sounds pretty poetic but "nothing last forever" so Bitcoin won't last. There's a paper where it's said how much coins and how much time it will take to mine the laaaast coin. This thing will erupt a situation that I really don't f****** know because it will happen in a very distant future --more distant than the paper said of course, because it's not a end prediction. When this day come we will be using hover cars like dr. Brown. It will be great.
May not last because it will last as long as human beings want to trade and use bitcoin and as long as bitcoin network last. There is still no hope that bitcoin will last forever because there will be only 21 million bitcoin and if all people start using bitcoin then there will be shortage of bitcoin and price will be sky rocketing and with such high rate people will refuse to use bitcoin rather they would choose other coins.
I guess its a yes because bitcoin is like a gold. Bitcoin is all over from the cyberworld so it cannot disappear no matter what. Just like gold it is all over from the land just mine it or search it then you will the gold or the bitcoin. Another similaralities is the value of the is continuing to up.
No one can really design something to last forever because nothing in the human world is ever perfect. That said, Bitcoin doesn't need to be perfect. Nobody knows for sure how the network will hold up after mining ends but that's okay because the code can simply be modified/enhanced/updated along the way. So in that sense, it certainly could go on forever. The Bitcoin of the future is likely going to be very different from the one we know today, the same way descendants are different from their ancestors.
yes i am hopeful that bitcoin will stay for ever because it is now becoming the world number one crypto currency and all the people of the world will be using bitcoin in all over the world.
Bitcoin is already known as world number one crypto currency and in the way to become the mostly used digital payment processor. Bitcoin will survive till there will be internet as well as few peoples hosting nodes and few miners keep mining, and as of now bitcoin community is huge so i don't think there will be a situation where there will be no one supporting bitcoin in future. 
yes i am hopeful that bitcoin will stay for ever because it is now becoming the world number one crypto currency and all the people of the world will be using bitcoin in all over the world.
I've been thinking about it since last night and I couldn't find an answer to myself.
I know that there's a 21 million block cap and we wouldn't actually be here to see that time it comes to that point.
But assuming that we have reached reward era 34, what happens then? Miners wouldn't have any rewards from mining then.
Anyone care to help explain a few things for me?
I know that there's a 21 million block cap and we wouldn't actually be here to see that time it comes to that point.
But assuming that we have reached reward era 34, what happens then? Miners wouldn't have any rewards from mining then.
Anyone care to help explain a few things for me?
i remember there was a thread like this before. if all coins were mined like 21M of them in the far future which i think we'd all be dead.
Miners will still receive transaction fees and so theres no stopping unless people stop using bitcoin.
That is way too far but if ever it is all mined you are right. It will just be rotating and be used for big koney transaction. If you try to calculate it even just for the price now a million bitcoin is 600m+ dollars. That is way too huge.
there is so much nonsense in this thread... it's actually very simple, as long as there are a few miners and people hosting nodes, then it will continue to exist.
bitcoin will be designed to last until internet gone and being replaced by another far superior technologies that maybe will be happen in the next age
No one really knows when bitcoin would last since anything in this world doesnt last forever but i could somehow assured that bitcoin would last a little longer since its already been used by people and the adoption of bitcoin is growing day by day which causes for the price to rise up, as long their are people who use bitcoin it wouldnt easily die.
I think so. Bitcoin has no weak spot that people are capable of abusing. People can only misuse Bitcoin but people can't spam Bitcoin to the point that it will go down. Bitcoin is a currency but it exists on the internet. Ask yourself, do you think fiat money would last forever? If your answer is yes, then Bitcoin will last forever, as well. If your answer is no, then maybe it's because you have doubts on Bitcoin.
Up to date bitcoin network is still safe for be used and there are not found weakness of it, but if we talking about bitcoin is desained to last forever, i think there are not people who know it, because the technology always growing up.
But assuming that we have reached reward era 34, what happens then? Miners wouldn't have any rewards from mining then.
You are forgetting that Bitcoin has transaction fees. The total sum of transaction fees paid for transactions in a certain block goes to the miners solving that block (in addition to the block reward). While total transaction fees today are typically significantly less than 1 BTC per block, this total sum is already significantly higher than a few years ago.
In future, transaction fees will progressively increase in relevance compared to block rewards and ultimately entirely replace them as an incentive to solve more blocks.
You also have to consider that with decreasing block rewards, Bitcoin's valuation will very likely increase significantly. So mining might still be profitable, even if the amount of Bitcoin obtained in the process is only a fraction of what it is today.
ya.ya.yo!
But assuming that we have reached reward era 34, what happens then? Miners wouldn't have any rewards from mining then.
You are forgetting that Bitcoin has transaction fees. The total sum of transaction fees paid for transactions in a certain block goes to the miners solving that block (in addition to the block reward). While total transaction fees today are typically significantly less than 1 BTC per block, this total sum is already significantly higher than a few years ago.
In future, transaction fees will progressively increase in relevance compared to block rewards and ultimately entirely replace them as an incentive to solve more blocks.
You also have to consider that with decreasing block rewards, Bitcoin's valuation will very likely increase significantly. So mining might still be profitable, even if the amount of Bitcoin obtained in the process is only a fraction of what it is today.
ya.ya.yo!
I dont think bitcoin is really desinged to last forever because i know for sure that allot of people are making money with it but not for the rest of their lifes you know allot of peopel are doing well with bitcoins but will that stay?
the possibility there are because not all bitcoin successfully mined and adventure is still far just enjoy what we could get from bitcoin.
I dont think allot of people will stay for the rest of their lifes into the bitcoin because one day he will drop down that much and rebuild all of it again so that makes very many people sad.
I dont think bitcoin is really desinged to last forever because i know for sure that allot of people are making money with it but not for the rest of their lifes you know allot of peopel are doing well with bitcoins but will that stay?
One day all bitcoins will be mined.
That means no transactions will be confirmed anymore.
I think that coins can still be sent, but without the confirmation, I don't think that people will still use it.
So no, I don't think bitcoin will last forever.
Besides, I think that the confirmation times will become so slow that long before the last coin will be mined nobody will use bitcoin anymore.
That means no transactions will be confirmed anymore.
I think that coins can still be sent, but without the confirmation, I don't think that people will still use it.
So no, I don't think bitcoin will last forever.
Besides, I think that the confirmation times will become so slow that long before the last coin will be mined nobody will use bitcoin anymore.
I dont think it was designed to last forever, that is why we need to support bitcoin to keep being developed, so it can last longer,maybe with the update and development bitcoin can become last forever
that's right, in my mind bitcoin is more flexible, but their just mingle into the digital environment for naturally. and basically bitcoin is made for easily be mingle with our digital community. Bitcoin is designed well, however at some point in time I think it will need to be rebooted or something, for wouldn't it get harder and harder to get confirmations and such. I understand that fees will be applied to all transactions once the block have all been found, but I would think that as long as users use it all th tie, it will be there to be used.
As long as there's no idea which is far better than blockchain technology which used in bitcoin and still decentralized, i think bitcoin could last forever as long as bitcoin constantly improved and people keep using bitcoin as currency.
I'm sure miners and full nodes would use better hardware which can confirm and broadcast all transaction easily.
Agree as long as there are lot of users! And we could conclude now that the demand of it is getting higher and higher every year so meaning there are lot of peoples using it because of its popularity in the world
And lets hope that it will not really die and we can say that there is a Forever! Jump to: