Topic: What happen bitcoin maximum number mined? (Read 185 times)
Well the good news is if bitcoin lasts that long we will all be stinking rich late in life.. but will also be dead when last block gets mined.. kind of upsetting really to think about that I won't get to see this thing through.. or anyone else here.
It seems kinda presumptious to try to predict how (or even whether) bitcoins will be mined 120 years from now. No one in 1900 was able to predict Bitcoin itself.
And no one will still be alive at that time except if humans could create a cyborg from our time today but this is just only an assumptions. After Bitcoin mined and halved until no more coins to be halve the price will grow exponentially in the future. No one would predict if crypto currency at that time was still available or maybe there is a new technology that's more likely a Bitcoin. 
Bitcoin design already addresses this issue and contains necessary mechanisms to make bitcoin sustainable even after block rewards get stopped.
Block miner will receive transaction fees, and when it is economically not rewarding for the labor/cost out there, some miners naturally will stop mining. However, since Bitcoin network difficulty adjustment will take care of average block length to be 10 minutes, thus network difficulty will drop and mining cost will drop. Eventually, mining cost will be less than mining reward that can be collected from transactions fees. So, bitcoin protocol has the necessary adaptation capability to handle your concerned case. No worry
Block miner will receive transaction fees, and when it is economically not rewarding for the labor/cost out there, some miners naturally will stop mining. However, since Bitcoin network difficulty adjustment will take care of average block length to be 10 minutes, thus network difficulty will drop and mining cost will drop. Eventually, mining cost will be less than mining reward that can be collected from transactions fees. So, bitcoin protocol has the necessary adaptation capability to handle your concerned case. No worry
It seems kinda presumptious to try to predict how (or even whether) bitcoins will be mined 120 years from now. No one in 1900 was able to predict Bitcoin itself.
ASICs will still be used, although they become trash every couple of years once newer more profitable models come out and drives them out of competition.
Mining will go on as usual, but transaction fees would be bigger and bigger part of the reward until they become the entire reward around that date.
Mining will go on as usual, but transaction fees would be bigger and bigger part of the reward until they become the entire reward around that date.
I know 21,000,000 is maximum bitcoin number.
Now its remaining 4,000,000 approx.
So its over at 2140 year?
What happen then? If all mined, all current many miner hardwares (ASIC) all become trash?
Or they can continue finding new block, but reward is only bitcoin transaction fee?
Now its remaining 4,000,000 approx.
So its over at 2140 year?
What happen then? If all mined, all current many miner hardwares (ASIC) all become trash?
Or they can continue finding new block, but reward is only bitcoin transaction fee?
This gets asked a lot. e.g. see https://bitcointalksearch.org/topic/what-will-happen-to-bitcoin-year-after-2140-1078551.
In a nutshell - transaction fees should sustain the miners then. It is a gradual change from supply-inflation rewards being dominant to transaction fees being dominant.
I know 21,000,000 is maximum bitcoin number.
Now its remaining 4,000,000 approx.
So its over at 2140 year?
What happen then? If all mined, all current many miner hardwares (ASIC) all become trash?
Or they can continue finding new block, but reward is only bitcoin transaction fee?
Now its remaining 4,000,000 approx.
So its over at 2140 year?
What happen then? If all mined, all current many miner hardwares (ASIC) all become trash?
Or they can continue finding new block, but reward is only bitcoin transaction fee?
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