...the supply will be pretty limited and that should give the price a huge boost.
I am wondering what will be the price value? Will there be any fiat left by that time? Interesting future.
Topic: It's 2040, the last bitcoin was just mined... - page 3. (Read 658 times)
There would be no way to change the reward algorithm as there would be no more minable bitcoin available to serve as incentive for miners. The bitcoin protocol is built on immutabilty, and this builds trust, any change in the system would not be a welcome development.
Transactions fees would have to be modified to serve as reward enough and still make it profitable to confirm transactions.
Transactions fees would have to be modified to serve as reward enough and still make it profitable to confirm transactions.
Sure, they still get transaction fees. Would those escalate?
Yep, it's 2140 and it's expected that the rise of the price will make the fees cover the mining costs and also give some profit.
I don't expect a change in the algo in the future, it could weaken the coin. But we cannot know what will happen in so much time, the technology will advance a lot...
It should be around May 2140 and not 2040. Why there will be a need to do any of these things you mentioned though? I'm pretty sure the transactions fees will be more than sufficient because by no longer having block reward, the supply will be pretty limited and that should give the price a huge boost.
Oh, I'm off by 100 years! My bad...should have examined the elliptic curve and the exponential halving before posting.
It should be around May 2140 and not 2040. Why there will be a need to do any of these things you mentioned though? I'm pretty sure the transactions fees will be more than sufficient because by no longer having block reward, the supply will be pretty limited and that should give the price a huge boost.
What might the miners do at this junction?
Sure, they still get transaction fees. Would those escalate?
Might there be a reason to move to non-ASIC hardware?
Or a reason to change the reward algorithm?
Sure, they still get transaction fees. Would those escalate?
Might there be a reason to move to non-ASIC hardware?
Or a reason to change the reward algorithm?
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