Topic: Is Bitcoin designed to last forever? - page 15. (Read 9882 times)
Nothing is for sure but there is a chance that sooner or later another cryptocurrency will make its appearance and it will be an improvement version of bitcoin which means anonymous,safe to use and much faster.These features will make it ideal for instant payments and it will become the most used digital currency.Of course bitcoin is not going to lose its value but it will be only used as an asset,the same has happened with gold and dollar for example.
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?
There are 64 more halvings left to bitcoins. If we compute 64 x 4 years equals 256 + 4 = 260 years. So bitcoin is not designed to last forever there will be a time when bitcoin will stop. But it is a long way to go we are all dead before that will happen. But if the quantum computers invented by NSA will have a negative effect on bitcoin then bitcoins will no longer reach 50 years.
I think all bitcoin users wishing that it will be last forever because bitcoin is great other source of income it can also help us to increase our monthly revenue. That's is why the miner should have a bonus always to motivate them to expand their farm and to have more supply of bitcoin even the new users has a huge demand of bitcoin they can support how many bitcoin they want.
At the moment the core isnt giving too many importance about how will be the future about bitcoin, but we believe on that moment the fees that we nowadays support the network would be the fee that will keep the miners active. But sure that would be insane till some moment as the coins will be less and less all years,soo this system still with some problems.
But assuming that we have reached reward era 34, what happens then? Miners wouldn't have any rewards from mining then.
Long before this reward era 34 even start, fees beome much more important than base block rewards. Now the situation is quite different, base block 12.5 Bitcoin reward is much more important than any fees you can reasonably collect (up to 1 BTC?).
Bitcoin doesn't have enough coins to supply everyone around the world and its also unpredictable when your payment finally reaches its destination. There are a lot of altcoins out there trying to dethrone BTC and one day something will or is in the process of doing so.
of course bitcoin is not designed to last forever, in my opinion bitcoin will go on for about 500 years until it will be replaced by some kind of a better currency, thats my guess for it
The OP is talking about our lifetime and what happens when the block reward becomes low.
Of course, nobody knows what will happen in 500 years time.
of course bitcoin is not designed to last forever, in my opinion bitcoin will go on for about 500 years until it will be replaced by some kind of a better currency, thats my guess for it
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?
Off Course Bitcoin is designed to last forever.
Here are few reasons :
Bitcoin is nothing without blockchain. Blockchain actually powered it and enhanced it become a digital currency.
Bitcoin is peer to peer network.
As already people from allover world have accepted it trusted it and implemented it. And till last man on land bitcoin will be at that point.
If we consider no mans land then nothing will be here.
Bitcoin is a real invention as like a dream comes true.
I don't see bitcoin survive 50 years of innovation and technology. Innovation is just growing to rapidly which makes it hard to compete for bitcoin.
In short, we can enjoy bitcoin for some decades, before something new will take over
I agree. Because some of have already predicted that there will be any other currency in future having more value than bitcoin.
Bitcoin is nothing but just an altcoin as many are there.
But Bitcoin is special bcz of its value. Bitcoin is only altcoin have highest market exchange value. No other cryptocoin have reached to near yet.
But in future there may be possibilities of any new altcoin having value more than current bitcoin price in market.
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?
Off Course Bitcoin is designed to last forever.
Here are few reasons :
Bitcoin is nothing without blockchain. Blockchain actually powered it and enhanced it become a digital currency.
Bitcoin is peer to peer network.
As already people from allover world have accepted it trusted it and implemented it. And till last man on land bitcoin will be at that point.
If we consider no mans land then nothing will be here.
Bitcoin is a real invention as like a dream comes true.
I don't see bitcoin survive 50 years of innovation and technology. Innovation is just growing to rapidly which makes it hard to compete for bitcoin.
In short, we can enjoy bitcoin for some decades, before something new will take over
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 think that it is not a good way to think,because in my opinion nothing is designed to last forever,at least it is not ready or possible.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?
Especially will bitcoin,it is of course the first real cryptocurrency,and the most popular one,but if we will see the same growth
of cryptocurrencies and growth of their popularity,we may see another crypto (or maybe some altcoin) getting bigger and bigger,even
to the bigger size of these days bitcoin.
Many things may happen,but i hope that bitcoin will last forever,and rise
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?
Off Course Bitcoin is designed to last forever.
Here are few reasons :
Bitcoin is nothing without blockchain. Blockchain actually powered it and enhanced it become a digital currency.
Bitcoin is peer to peer network.
As already people from allover world have accepted it trusted it and implemented it. And till last man on land bitcoin will be at that point.
If we consider no mans land then nothing will be here.
Bitcoin is a real invention as like a dream comes true.
No bitcoin cannot last forever. In fact nothing can last forever but it doesn't matter to me because until i am alive bitcoin will be alive and will grow year by year so i don't think we need to care about that
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 assume, during the reward era 34, the block reward would be around ~500 bitcoins. Yes, newly generated ~1 satoshi + 500 BTC from transactions fees. 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?
As of now miners are gaining ~0.7 to 0.8 BTC tx fees with each block rewards. 2 years back it was around 0.15 BTC. Miners will have a definite reward for their efforts always, bitcoin price is the another factor will ensure that always.
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?
Bitcoin has really been convinient for me ever since i discovered it, so i use it while it's still around. It's not as old as people are saying it is but one day indeed the mining cap would be reached and the remaining bitcoins would be circulated around; where would it end up? When someone converts their Bitcoins to Fiat, its not like they transformed them; its actually a trade of buying and selling so therefore it would keep being circulated around for generations until slowly and gradually people stop using it.
i do not think that bitcoin was designed to last forever. it is just an invention which will disappear once something more developed is invented. nothing in this planet can last forever AFAIK
well it is impossible to avoid any better technologies in my opinion because there will always be new inventions that will be better than the previous ones so bitcoin wasnt created to last forever 
i do not think that bitcoin was designed to last forever. it is just an invention which will disappear once something more developed is invented. nothing in this planet can last forever AFAIK
i think yes the interest of the people and the price increase shows that bitcoin is design to last for ever. i think if w compare bitcion to other crypto currencies we can understand that bitcoin is developing and maturing with a high speed.
I hope that bitcoin can have longer life than $ and if bitcoin gone other crytocurrency will change him like example bitcoin gone now and litecoin prize per coin go to 500$ minimum per peace so all situations are good because there are hunderts cryptocurrencies.
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.
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