We are currently seeing an evolution of AI. Likely bitcoin will become part of the AI substructure around the globe. Gen 4 nuclear power will be everywhere, and the power will be basicaly free.
The current unsustainable culture of materialitic greed will also change to something more spiritual and in harmony with nature, which would also fit with the truth honest accountability and immutability of bitcoin.
Bitcoin is definately going to be part of our future planet earth.
Topic: Possible scenario when all Bitcoin is completely mined. - page 3. (Read 629 times)
I think I will leave this problem to the people who will be alive when this happens. It will happen in almost a century from now, and I do not think I will be alive by then. If this will scenario will put bitcoin in bullish, or bearish or dead, I am sure bitcoiners of that time will be able to handle it.
My view is almost the same as yours, when bitcoin is not mined and supply has run out, the demand for the market will be higher while the supply is low and this will increase the price of bitcoin significantly. So from now on, I will buy to invest before that time arrives
Thanks to the frequent halvings we'll not be alive when this will gonna happen.
Nobody knows what will happen then, but we shouldn't care too much anyway:)
Nobody knows what will happen then, but we shouldn't care too much anyway:)
Let's say "let's cross the bridge when we get there". Very difficult to see what will happen, maybe the price will go to $1 million or go to 0. We even have difficulty predicting what's going to happen in the next year or so, what's more 10-20 years from now?
It is hard to predict but we are living in a world that is full of predictions and speculations(crypto world). If you look from left to right you'll see analysts, experts, crypto enthusiasts, traders, and a lot more are predicting what will happen, so it is not a bad thing to predict based on our own point of views on what is going to happen next. 
...I think that the price of Bitcoin will start to soar at that time without any manipulations because the demand will start to get high because miners will surely not sell their mined Bitcoin's at a lower price. ...
I disagree with your reasoning:
1. "demand will ... get high because miners will ... not sell"
That's a common misconception. Lack of supply does not create demand.
2. "miners will surely not sell their mined Bitcoin's at a lower price."
That's wishful thinking. People sell at a loss all the time. There is no reason to believe that miners won't. Miners must sell bitcoins to pay bills. They can't simply hold if they are losing money.
And you have a big point on what you are saying. 
Unless it's a bug or something that threatens impending doom for Bitcoin, a hard fork will never get consensus.
hard forking bugs out of Bitcoin (not serious bugs though) do have some consensus, but it's unlikely to happen anytime for a while because of how unimportant they are. But that means there are hard forks that could get consensus.
The impact you mentioned is more likely to be the price that will occur to bitcoin when it is fully mined and this kind of assumption has been said by many people in this forum because they only think of the benefits that will be obtained if the price increase occurs.
I will see from a different perspective when Bitcoin has been fully mined. The impact that I will mention may not happen because this is only a thought in the person. maybe bitcoin will experience stuck in a few moments when it happens, and the developers or users will find a solution to preserve the bitcoin ecosystem so that it doesn't experience destruction.
Adoption of technology is one solution to maintain bitcoin and technology so that it does not stop. I am also curious about the scenario of what bitcoin developers will do when that happens.
I will see from a different perspective when Bitcoin has been fully mined. The impact that I will mention may not happen because this is only a thought in the person. maybe bitcoin will experience stuck in a few moments when it happens, and the developers or users will find a solution to preserve the bitcoin ecosystem so that it doesn't experience destruction.
Adoption of technology is one solution to maintain bitcoin and technology so that it does not stop. I am also curious about the scenario of what bitcoin developers will do when that happens.
OP, I believe the "drama" will start after two halvings. There will be some "influencial" people from the community who will start a "campaign" for a hard fork to change the reward schedule, but without inflating the supply.
I will say it now, "I told you so".
I will say it now, "I told you so".
I do not think we are very near , we can survive till the mining rewards are greater than .5 BTC , atleast more than a decade. Bitcoin already crossed 20 years of its existence till that time. If there is no volume then we do not have to bother anything but we need to work to scale the original network so that transaction volume and fess can make it up for it. This is not a new problem and Satoshi already commented on it.
Right. Otherwise we couldn't have a finite limit of 21 million coins, because there would always need to be some minimum reward for generating. In a few decades when the reward gets too small, the transaction fee will become the main compensation for nodes. I'm sure that in 20 years there will either be very large transaction volume or no volume.
OP, I believe the "drama" will start after two halvings. There will be some "influencial" people from the community who will start a "campaign" for a hard fork to change the reward schedule, but without inflating the supply.
There's already support for divding 1 BTC into smaller fractions in a hard fork. That's the end of it really, instead of mining new coins ending in the year 2140 (as things are now), mining will stop in the year 2200 or something like that
Why do you want to promote drama that doesn't even exist?
because LN is a separate network. and BITCOIN was changed to meet LN needs(not the other way round) the same group that instigated hardforks using consensus bypasses in 2017 to make bitcoin LN compatible. will do the same thing again to make the bitcoin units of account more appear to be the same as LN's pegged tokens. to attempt to hide that LN is pegged tokens
learn millisats
with 8 decimals the year 2140~ is the year mining rewards cant be divided. but adding 1000 subunits means that bitcoin can have many more 'bitcoin halving' events beyond 2140
eg 1000, 500,250,125 which is 4 extra NON-Rounded halvings which is 16 years of more units of account bing added to circulation
what you also have to realise is that at code/PROTOCOL level units of account are measured in satoshi's. so messing with the units of account do actually matter. once you look beyond the propaganda hype and buzzwords of human drama and the user interface and look at the code you will realise that the units of account changing from
~2,100,000,000,000,000
~2,100,000,000,000,000,000 matters
yes some people will buzzword it that its still going to be 21m 'bitcoins' . but the reality is a 'bitcoin' is a basket term for 100,000,000 satoshis
much like saying a banana pallet is 1000 banana's. and then saying there are only ever 100 pallets in a truck. yet by adding 10 banana's per pallet and still trying to say there are only 100 pallets, does not hide the fact that there are now 1000 extra banana's that can be shared around
Your opinion propagates heightened demand and scarcity which culminates in the price of Bitcoin soaring. This is true. And I guess it could be for this reason that those who put the expected Bitcoin ATH at over $50,000, $150,000 are doing so. However, we don't know yet what year all this will be. No man is God to know the future. We can only speculate.
I still think very optimistic that when bitcoin is fully exploited in 2030, then the price of bitcoin will increase rapidly. Besides bitcoin technology has improved a lot, bitcoin is accepted most of the world, becoming a legitimate payment method. but that's just my optimistic thinking, nobody knows until 2030 bitcoin will become scarce or become worthless.
we can barely predict what is going to happen in a year or 10 years from now. you are asking us to predict what will happen after about 90 years! that is simply impossible. not to mention that this topic has been discussed before many many times. example of the most recent duplicate topic: https://bitcointalksearch.org/topic/how-will-bitcoin-survive-after-all-21m-coins-have-been-mined-5128657
Yeah bud, I don't know why people are so concerned about a thing that is going to happen in the next generation. 90 years is so long that most of us won't even be alive until that time.Despite that, the topic has been discussed so many times that if I filter the search results, I ll find pages full of threads related to supply being ended. I must say, people don't even want to use the search function before creating a new thread.
There is still many years until all BTC would be mined. For example, till that time someone can invent a new super miner with a huge, for the current moment, hashrate and low electricity consumption.
Miners always work on getting a better equipment and since GPU mining hashrate is constantly growing. For now nothing tells us that this trend should stop.
Miners always work on getting a better equipment and since GPU mining hashrate is constantly growing. For now nothing tells us that this trend should stop.
It is really hard to predict what will be the outcome when all bitcoin has been mined but rest assured that it will go by what you think OP. We can do a lot of speculation but still, we can't predict it.
OP, I believe the "drama" will start after two halvings. There will be some "influencial" people from the community who will start a "campaign" for a hard fork to change the reward schedule, but without inflating the supply.
There's already support for divding 1 BTC into smaller fractions in a hard fork. That's the end of it really, instead of mining new coins ending in the year 2140 (as things are now), mining will stop in the year 2200 or something like that
Why do you want to promote drama that doesn't even exist?
I heard other proposals of a hard fork to take Satoshi's Bitcoins, then distributing them to the miners.
Plus who's promoting? I'm ridiculing. Unless it's a bug or something that threatens impending doom for Bitcoin, a hard fork will never get consensus.
Don't worry about mining. It doesn't matter how many bitcoin will be mined. Because in every bitcoin transactions that we have and every bitcoin that we use bitcoin will always have an income so don't be afraid that bitcoin will be die because of mining. It can affect the bitcoin price but is only a normal situation.
As of now we cannot find the right time by which the entire sum of bitcoin gets mined. Bitcoin is all about the supply to the demand, when there is very minimal number of bitcoin to be mined there will be increased demand. This will make even a single satoshi more valuable. We're not sure about the future market, but if the need for bitcoin keeps growing same as now there'll be assured growth in value of single satoshi.
That is what most people believe or expect in the next 100 years or so, but I don't think it will be as easy as that, for by then newer and more efficient cash systems would have been developed, and bitcoin could have been overtaken by such currency systems--again, we don't know. Everything even 10 years or 5 years for now is uncertain, and with a lot of tensions going on in the major fronts of this world, I don't even think humanity would last long to see the last bitcoin being mined.
Hilarious. No one can predict the values of any cryptocurrency in this extremely volatile market where the values swing upwards and downwards for some reason(No reason sometimes) which is why you asking us to predict something like this is hilarious indeed.
Lets take things one step at a time op.
Lets take things one step at a time op.
OP, I believe the "drama" will start after two halvings. There will be some "influencial" people from the community who will start a "campaign" for a hard fork to change the reward schedule, but without inflating the supply.
There's already support for divding 1 BTC into smaller fractions in a hard fork. That's the end of it really, instead of mining new coins ending in the year 2140 (as things are now), mining will stop in the year 2200 or something like that
Why do you want to promote drama that doesn't even exist?
Jump to: