Topic: what happen with bitcoin after not mineable? - page 3. (Read 5696 times)
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.
I don't think people will stop mining Bitcoin. There are companies that are willing to invest millions to keep a good hashrate on the network, by the fact that these companies have a lot to gain if Bitcoin remains stable and useful for many people.
Investments in mining operations will likely increase, especially when increases the number of companies accepting Bitcoin as a form of payment.
the end of the mining rewards is so so so so far away. maybe there are now companies that are willing to invest millions into bitcoin, but they are interested in a return of that money in a short period. with the growing hash rate you can only make short term plans. they want to profit as long as they can, but if bitcoin dies they will go somewhere else. Investments in mining operations will likely increase, especially when increases the number of companies accepting Bitcoin as a form of payment.
I don't think people will stop mining Bitcoin. There are companies that are willing to invest millions to keep a good hashrate on the network, by the fact that these companies have a lot to gain if Bitcoin remains stable and useful for many people.
Investments in mining operations will likely increase, especially when increases the number of companies accepting Bitcoin as a form of payment.
Investments in mining operations will likely increase, especially when increases the number of companies accepting Bitcoin as a form of payment.
Why such thought about bitcoin mining? Because difficulty is higher and you aren't able to mine it at home? Bitcoin mining isn't for home miners from previous halving, it's for mining companies. As time goes, hardwares and softwares are improved, at first there was antminer s1, s2, s3, s5, s7 and now is better s9. If we would have s9 when we had s1, it would be greatest. And in future, there will be more improved mining hardwares which will be still profitable.
more than 15 million bitcoin is already mined and only about 5 million left out to be mined so, after bitcoin is fully mined no one could mine anymore bitcoin and all 21 million bitcoin will be circulating and price will rise up continuously. because no more bitcoin will be there and people will need more bitcoin day after day.
If no ones mines bitcoin after all of them mined, transactions won't be made. There will always people who mine bitcoin for transaction fees. If less people mine bitcoins after that phase, it is good for the remaining miners since they will get more fees. Sooner or later there will be an order again between the miners.
The only thing i am concerned with is that the fees will rise so much by that time and bitcoin won't have the appeal like it has now.
Bitcoin can be mined up to 2140, which is some 124 years away. We don't need to bother about the scenario in 2140, as I don't think that Bitcoin will survive until then. I am not even sure that the human race will survive until 2140. For sure, none of us (the current users) are going to live up to 2140 (unless a miracle occurs in the medical field). 
After 2023, once the bitcoin will be stopped from mining, then bitcoin will become more exclusive and rare coin, increasing its price to a higher level ever seen. Even as on date, only 1-2% of total bitcoin users are miners and not more because of the mining difficulty.
So the mining stop will push the price of bitcoin to an uncharted territory never seen before. However, I came to know that the bitcoin core committee is now thinking to increase the life of bitcoin so that it can be mined even after 2023, but not sure.
but i think then people will not ready to sell bitcoin and the circulation will stop any more, and i think it is not in the favour of bitcoin therefore to me there must be so alternative solution for that, so that bitcoin can circulate in the market and must be available in the market any time. So the mining stop will push the price of bitcoin to an uncharted territory never seen before. However, I came to know that the bitcoin core committee is now thinking to increase the life of bitcoin so that it can be mined even after 2023, but not sure.
more than 15 million bitcoin is already mined and only about 5 million left out to be mined so, after bitcoin is fully mined no one could mine anymore bitcoin and all 21 million bitcoin will be circulating and price will rise up continuously. because no more bitcoin will be there and people will need more bitcoin day after day.
If no ones mines bitcoin after all of them mined, transactions won't be made. There will always people who mine bitcoin for transaction fees. If less people mine bitcoins after that phase, it is good for the remaining miners since they will get more fees. Sooner or later there will be an order again between the miners.
The only thing i am concerned with is that the fees will rise so much by that time and bitcoin won't have the appeal like it has now.
Its expected that this will really happens, i mean the end of mine, and then we will be paying the miners hash, that keep bitcoin security, with the fees, nowadays we spend 10-50k as fee at regular transactions, in the future we may have to spend atleast 200-400k satoshis and this will be with bitcoin worthing above 2000 dollars unit, otherwise some solution must come to keep bitcoin atractive.
more than 15 million bitcoin is already mined and only about 5 million left out to be mined so, after bitcoin is fully mined no one could mine anymore bitcoin and all 21 million bitcoin will be circulating and price will rise up continuously. because no more bitcoin will be there and people will need more bitcoin day after day.
If no ones mines bitcoin after all of them mined, transactions won't be made. There will always people who mine bitcoin for transaction fees. If less people mine bitcoins after that phase, it is good for the remaining miners since they will get more fees. Sooner or later there will be an order again between the miners.
The only thing i am concerned with is that the fees will rise so much by that time and bitcoin won't have the appeal like it has now.
Its expected that this will really happens, i mean the end of mine, and then we will be paying the miners hash, that keep bitcoin security, with the fees, nowadays we spend 10-50k as fee at regular transactions, in the future we may have to spend atleast 200-400k satoshis and this will be with bitcoin worthing above 2000 dollars unit, otherwise some solution must come to keep bitcoin atractive.
more than 15 million bitcoin is already mined and only about 5 million left out to be mined so, after bitcoin is fully mined no one could mine anymore bitcoin and all 21 million bitcoin will be circulating and price will rise up continuously. because no more bitcoin will be there and people will need more bitcoin day after day.
If no ones mines bitcoin after all of them mined, transactions won't be made. There will always people who mine bitcoin for transaction fees. If less people mine bitcoins after that phase, it is good for the remaining miners since they will get more fees. Sooner or later there will be an order again between the miners.
The only thing i am concerned with is that the fees will rise so much by that time and bitcoin won't have the appeal like it has now.
more than 15 million bitcoin is already mined and only about 5 million left out to be mined so, after bitcoin is fully mined no one could mine anymore bitcoin and all 21 million bitcoin will be circulating and price will rise up continuously. because no more bitcoin will be there and people will need more bitcoin day after day.
If no ones mines bitcoin after all of them mined, transactions won't be made. There will always people who mine bitcoin for transaction fees. If less people mine bitcoins after that phase, it is good for the remaining miners since they will get more fees. Sooner or later there will be an order again between the miners.
The only thing i am concerned with is that the fees will rise so much by that time and bitcoin won't have the appeal like it has now.
I don't think bitcoin will be becoming un-mine-able at all, The halving does guarantee that there will be a block reward for a very long period of time, The increase in the price of bitcoin should always maintain the overall value of BTC given as a reward block + the transaction fee.
You are right. There would be some reward all the time to miners who will find the block. Only bitcoins are limited not the blocks and its reward (even with zero new bitcoins).After 21M bitcoins mined out, miners will receive only transaction fees as block reward. It may happen only after ~140 years, at that time by considering volume of transactions fees alone may sum up more than 50 bitcoins (the highest real block reward, excluding fees).
I don't think bitcoin will be becoming un-mine-able at all, The halving does guarantee that there will be a block reward for a very long period of time, The increase in the price of bitcoin should always maintain the overall value of BTC given as a reward block + the transaction fee.
You are right. There would be some reward all the time to miners who will find the block. Only bitcoins are limited not the blocks and its reward (even with zero new bitcoins).After 21M bitcoins mined out, miners will receive only transaction fees as block reward. It may happen only after ~140 years, at that time by considering volume of transactions fees alone may sum up more than 50 bitcoins (the highest real block reward, excluding fees).
I don't think bitcoin will be becoming un-mine-able at all, The halving does guarantee that there will be a block reward for a very long period of time, The increase in the price of bitcoin should always maintain the overall value of BTC given as a reward block + the transaction fee.
It would really take long time for the last bitcoin to be mine and i assume it would last even for a lifetime this means this situation might be impossible to happen on our current state but back to the topic if its not mineable as long there are transactions bitcoin ecosystem would be still alive and with this value of bitcoin would rise for sure.
when the bitcoin mining is completed. I thought the price of bitcoin will increase. because bitcoin increasingly limited availability on the world market.
Well, some say this will be the end. Others say the end may come even earlier, because mining stops being profitable. However, there are people who believe Bitcoin will grow in price enormously, because of the finite amount of them. And if that happens, we all will become very rich.
Probably we will have 21 million very shortly and after then we will have to circulate bitcoin and after then supply Erik stop foreve and its price could reach million $ per bitcoin. So hold up tight and get set ready for the sky rocketing price. Till then hold your bitcoin and earn lot for free.
Well, if bitcoin stop mined, meaning the number of bitcoin will never grow again. it makes bitcoin will be something very step, maybe it would be good or bad. the price can only be dropped off and could only be climbed.
more than 15 million bitcoin is already mined and only about 5 million left out to be mined so, after bitcoin is fully mined no one could mine anymore bitcoin and all 21 million bitcoin will be circulating and price will rise up continuously. because no more bitcoin will be there and people will need more bitcoin day after day.
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