Topic: what happen with bitcoin after not mineable? - page 2. (Read 5696 times)
This is bound to happen because of limited stock, if there is no mining price will certainly keeps increasing even I predicted that within 1 year, can rise 300%.
The same question i have in mind, but after learning people reviews i came to know that the value of bitcoin price is really high, after not mine able there will be a huge demand for bitcoin because of very low transaction fee. But now who are talking here may not live that many years how it is going to be in near future.
Bitcoin is just an experiment. Im quite sure there will be some other cryptos by that distant future. I would give bitcoins max 20 years.
20 years? The estimated time for all bitcoins to be mined is around a century and you are saying that bitcoin might just stay for 20 years, i really don't agree with that, bitcoin is for sure an experiment but it is not an experiment to be vanished so soon, it will be with us for a really long time.
well I guess the price will rise as it will not be mineble any more.
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This won't happen in our lifetime but we may see a point where the rewards will not be enough to cover increasin difficulty costs and miners will therefore already pre-empt what is likely to be fee hikes.
Hoarders will also slowly finally cave in to demand, assuming more is demanded and adoption continues to rise.
All this hinges on adoption. If there is no demand, then the coin will be abandoned slowly.
Hoarders will also slowly finally cave in to demand, assuming more is demanded and adoption continues to rise.
All this hinges on adoption. If there is no demand, then the coin will be abandoned slowly.
I do not think this can happen. Bitcoin had been well thought and I think we will just wait for the nect hving and every time it'll only become harder and harder to mine, and we'll reach like under 1BTC per block and it will become likely impossible. Therefore, the price has to increase for miners to have profit.
At 2140, this is the year the last coin will be mined, I expect that there will be a mass adoption of bitcoin usage around the world. Bitcoin users will have growing demands for fast and reliable transactions in everyday life payments. So, miners will have profit from transaction fees.
Atleast this is what is being expected to happen when the process does ends, the fees replaces the blocks rewards, that will be reduced to 12,5 bitcoins at 2020, one question will be any other halving after 2020? And if there will be wich will be the reward for the new blocks, its something im curious to know, even being just speculation the time of the halvings.
https://en.bitcoin.it/wiki/Controlled_supply
it's all here. there'll still be block rewards halving every four years for over 120 years, but it falls away very rapidly relatively soon. we'll know whether mining's sustainable without a significant block reward long before 2140 or so.
After all of the 21m coins are mined, the mining scene would still be ongoing to process all of the transactions going on in the network. Still, miners would take a cut, because theoretically by then the amount or price per bitcoin is high, and the transaction fees generated by the said transactions would still be high as well to cover for the costs of mining.
Atleast this is what is being expected to happen when the process does ends, the fees replaces the blocks rewards, that will be reduced to 12,5 bitcoins at 2020, one question will be any other halving after 2020? And if there will be wich will be the reward for the new blocks, its something im curious to know, even being just speculation the time of the halvings. Bitcoin is just an experiment. Im quite sure there will be some other cryptos by that distant future. I would give bitcoins max 20 years.
if bitcoin is still alive in 20 years then it's staying alive permanently. it's not just software, it's money. people don't walk away from that. they work to improve it. all alts along with bitcoin are nothing but software. bitcoin is the one people have chosen to award value to.
mining will continue.
the reward ends in the year ~2140,
giving over 120 years for the ratio of reward:txfee to flip where the txfee becomes the dominant income
its something we should not be pushing for today, as i said we have 120 years for a natural growth and slow flip of the ratio.
the fee's will eventually keep miners having a happy income
the reward ends in the year ~2140,
giving over 120 years for the ratio of reward:txfee to flip where the txfee becomes the dominant income
its something we should not be pushing for today, as i said we have 120 years for a natural growth and slow flip of the ratio.
the fee's will eventually keep miners having a happy income
It's a long long long time to the end of mining, our generation will be vanish in this world at that time.
When the time finally come, hopefully bitcoin still exist in circulation. I think bitcoin price should be...
ahh I don't know for sure, let's say $1 million per BTC1, even 0.0002 is big enough for miners due to high exchange rate of bitcoin. 
It will never happen. If bitcoin was mineable, people would not use Bitcoin anymore because what makes bitcoin different from other currencies is that Bitcoin can be created by computers and hardware. Nobody is willing to use a currency which is same as the Government FIAT which can be easily printed and controlled
And yet there are hundreds of thousand if not million is holding BTC and many of them are using it to buy stuff online and other encash them for local currency or vice versa.
After all of the 21m coins are mined, the mining scene would still be ongoing to process all of the transactions going on in the network. Still, miners would take a cut, because theoretically by then the amount or price per bitcoin is high, and the transaction fees generated by the said transactions would still be high as well to cover for the costs of mining.
Does this mean bitcoin transaction fee will be way higher than the processing fee of fiat currency? Then the belief of using it because of cheaper fee is just an illusion in the future.
After all of the 21m coins are mined, the mining scene would still be ongoing to process all of the transactions going on in the network. Still, miners would take a cut, because theoretically by then the amount or price per bitcoin is high, and the transaction fees generated by the said transactions would still be high as well to cover for the costs of mining.
Indeed and you get the exact point even bitcoin cant be already mined then for sure price of bitcoin will arise and miners will be still there always because they are the only ones could able to process transaction between bitcoin users and as you mentioned also when bitcoin price is high then expected transaction fees would be high too. Its still on balance.
After all of the 21m coins are mined, the mining scene would still be ongoing to process all of the transactions going on in the network. Still, miners would take a cut, because theoretically by then the amount or price per bitcoin is high, and the transaction fees generated by the said transactions would still be high as well to cover for the costs of mining.
Indeed and you get the exact point even bitcoin cant be already mined then for sure price of bitcoin will arise and miners will be still there always because they are the only ones could able to process transaction between bitcoin users and as you mentioned also when bitcoin price is high then expected transaction fees would be high too. Its still on balance. 
Since more than 1 century is there to get mined all the bitcoin according to current rate and may be after 20 years there will be less as compared to current number of miners because profit is becoming very less.
It will never happen. If bitcoin was mineable, people would not use Bitcoin anymore because what makes bitcoin different from other currencies is that Bitcoin can be created by computers and hardware. Nobody is willing to use a currency which is same as the Government FIAT which can be easily printed and controlled
After all of the 21m coins are mined, the mining scene would still be ongoing to process all of the transactions going on in the network. Still, miners would take a cut, because theoretically by then the amount or price per bitcoin is high, and the transaction fees generated by the said transactions would still be high as well to cover for the costs of mining.
Whether that will be an advantage or not its going to happen when everything is fully mined then the forces of demand and supply will fall in obviously the price will go up but we should also consider the reaction of the users to it. If its now more expensive to get, then I see other alts coming up to fill space that Bitcoin will be creating due to its scarcity.
this was answered many times, it will just make bitcoin more valuable and miners will mine for fee only, thus fee will be more expensive at least the same value as the total daily supply of today, so miner can continue make their current profit
what happen with bitcoin after not mineable?
miner will stop his mining activity ? then how to make bitcoin network strongest ?
and how about the price of bitcoin ?
Bitcoin price will rise becouse the supply is decrease or stop. Bitcoin can divided in 8 decimals so I think it will be fine. Miner still work for our bitcoin transactions. The developers can make bitcoin network strongest, I don't know much about this thing. miner will stop his mining activity ? then how to make bitcoin network strongest ?
and how about the price of bitcoin ?
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