What after THE END? | Bitcointalksearch.org

kryptqnick

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Quote from: Bohfin Legasof on July 05, 2024, 07:56:30 AM

Its year is 2024 and approximately 1.5 million bitcoins are left. What can we predict and prepare for until 2140 when bitcoin will be mined? Could we increase the amount of bitcoin, or will it just end? What will happen second before and after Bitcoin reaches its limit?

Fixed supply of Bitcoin is perfectly fine. There's no need to increase it, as Bitcoin is divisible into Satoshis, so there is likely to be enough of it for everyone who'd want it at that point. When the demand is high and the supply is low, it drives the price up. So the scarcity can mean that Bitcoin would get way more valuable, but it doesn't mean that it would be the end of life for Bitcoin.
Also, let's not forget that it's highly unlikely that any of us will be there to witness those events, and that the world is changing so fast that it's impossible to predict whether Bitcoin will be relevant to humanity in 2140.

PrivacyG

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Quote from: ?? on ??

Is there anything we can do to stop these attacks when no one will stay mining? or....

Miners will still be there. Not for the Block Rewards, but for the Fees. Even if there was no monetary incentive for Miners, Bitcoin will more than likely continue to exist. There are enough enthusiasts to have at least a couple hundred Miners using their little power 24 out of 7 to sustain the Bitcoin economy.

No more Block Reward means nothing bad in my opinion.

Sky_T

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Quote from: seoincorporation on July 05, 2024, 08:47:56 AM

It is simple, once all the bitcoins get mined, then the miners will get the fee reward, and that will be enough motivation to keep mining, but the amount of bitcoins reward from each block is not something to worry about, i would say the complexity of bitcoin will be a fact to worry about, right now the total mining power is just nuts, and can't imagine how it will be for 2140, it will be something insane, we will see some kind of evolution step, just as it did, from CPU to GPU to Rigs to ASIC to Huh

.

I agreed to that, I believe there are much greater reward for the Bitcoin miners. One could only worry about how complicated it has become.

seoincorporation

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It is simple, once all the bitcoins get mined, then the miners will get the fee reward, and that will be enough motivation to keep mining, but the amount of bitcoins reward from each block is not something to worry about, i would say the complexity of bitcoin will be a fact to worry about, right now the total mining power is just nuts, and can't imagine how it will be for 2140, it will be something insane, we will see some kind of evolution step, just as it did, from CPU to GPU to Rigs to ASIC to Huh

.

Bohfin Legasof

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Quote from: MeGold666 on July 05, 2024, 08:05:44 AM

Read this thread:
https://bitcointalksearch.org/topic/--5499656

No point of starting this discussion all over again.

thanks!

Quote from: dzungmobile on July 05, 2024, 08:06:33 AM

Quote from: Bohfin Legasof on July 05, 2024, 07:56:30 AM

Its year is 2024 and approximately 1.5 million bitcoins are left. What can we predict and prepare for until 2140 when bitcoin will be mined?
Could we increase the amount of bitcoin, or will it just end? What will happen second before and after Bitcoin reaches its limit?

How is the 21 million bitcoin cap defined and enforced is what you need to read, if you have yet read it.

Bitcoin has a Proof of Work blockchain and with each new Bitcoin block, miners will always receive transaction fee by confirming transactions for Bitcoin users. It is true now and after 2140 even when all 21 million bitcoins mined and existing in total supply. Before 2140, with each new found block, Bitcoin miners receive block subsidy (reward), that halves every four years.

Controlled supply
Bitcoin Equivalent Network Time

sure ik so,

the transactions will continue, but the platform will be more dangerous because miners will not be mining because of the loss of energy with no reward. So, the Bitcoin at the end could fall because no one will be motivated to mine it, and the price could go hypothetically up because there will be no more source to get new bitcoins from, transactions so blockchains will continue to generate.
Is there anything we can do to stop these attacks when no one will stay mining? or....

dzungmobile

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Quote from: Bohfin Legasof on July 05, 2024, 07:56:30 AM

Its year is 2024 and approximately 1.5 million bitcoins are left. What can we predict and prepare for until 2140 when bitcoin will be mined?
Could we increase the amount of bitcoin, or will it just end? What will happen second before and after Bitcoin reaches its limit?

How is the 21 million bitcoin cap defined and enforced is what you need to read, if you have yet read it.

Bitcoin has a Proof of Work blockchain and with each new Bitcoin block, miners will always receive transaction fee by confirming transactions for Bitcoin users. It is true now and after 2140 even when all 21 million bitcoins mined and existing in total supply. Before 2140, with each new found block, Bitcoin miners receive block subsidy (reward), that halves every four years.

Controlled supply
Bitcoin Equivalent Network Time

MeGold666

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Read this thread:
https://bitcointalksearch.org/topic/--5499656

No point of starting this discussion all over again.

Bohfin Legasof

newbie

Activity: 8

Merit: 3

Its year is 2024 and approximately 1.5 million bitcoins are left. What can we predict and prepare for until 2140 when bitcoin will be mined? Could we increase the amount of bitcoin, or will it just end? What will happen second before and after Bitcoin reaches its limit?

Topic: What after THE END? (Read 171 times)