Topic: What happend 2140 all BTC are mined (Read 411 times)
I dont think there is problem with the confirmation after bitcoin reached the max cap. 21 million btc. The good thing here is the price will rise because of the demand will become high and the supply will become limitted. So we better hold till we reached the max cap then we will see what will happen to bicoin.
we will be dead so it's not our problem ?? it's our kids' problem lol. I read somewhere that the transaction fees will cover the reward for mining. and that is interesting to see because the mining reward keeps getting small and the transaction fees are big as they are so maybe there will be a compromise somehow.
Hahahaha
I like your way of thinking (and sense of humour maybe), yes it could be our kids or grandkids' problem.
But, yeah it wouldn't matter anymore, at that era, BTC may be 100x worth than today, the transaction fees will be enough for mining rewards.
Miners will still have a task to do but that time they will not do mathematical problems to solve and rewards them a bitcoin but instead they will just do confirmations pf transactions around the blockchain and the reward that they will recieve is from the tx fees
maybe what happens is Bitcoin very diebut kan once by the public, because the stock is up and can be in the expensive its the price.
believe Bitcoin will be like this going up and down for a matter of price even though Bitcoin is gone in the mine.
believe Bitcoin will be like this going up and down for a matter of price even though Bitcoin is gone in the mine.
we will be dead so it's not our problem ?? it's our kids' problem lol. I read somewhere that the transaction fees will cover the reward for mining. and that is interesting to see because the mining reward keeps getting small and the transaction fees are big as they are so maybe there will be a compromise somehow.
Hahahaha
I like your way of thinking (and sense of humour maybe), yes it could be our kids or grandkids' problem.
But, yeah it wouldn't matter anymore, at that era, BTC may be 100x worth than today, the transaction fees will be enough for mining rewards.
Miners will have to continue mining for transaction confirmations. Transactions written in a block will still need to be confirmed by miners. Indeed mining will not be profitable but I think at least pools will continue to run Bitcoin miners.
if that's the year I'm sure million is a bitcoin because bitcoin will get an update every year so you know that bitcoin price is too high for that year so it's best to store bitcoin so it will not override the latter and stock it in your wallet for your future
What happens in 2140 when the last BTC was mined with the confirmations of the transactions in the blocks and thus with the block rewards. There should not be more BTC than Rewards, because 21 Mill BTC were gemined.
How are the transactions then confirmed?
How are the transactions then confirmed?
In theory transaction fees will "reward" the miners, but unless computers become smaller, faster, and smarter, then I doubt there will be any profit in this. One solution to this is to move over to a proof of stake system, but then again, how will this really effect Bitcoin prices? 2140 is a long time away... Its hard to say how many advancements there will be. Perhaps there will be a whole new system altogether.
it just only 4 Million to mined, maybe its not last up to 2140 maybe it just 10 years again? after that maybe bitcoin price will be rising up if bitcoin still popular and maybe it will makes changes orthey will makes another child coin like BCH to be mined and of couse the price is lower than bitcoin
Well, in that case, I believe that one ICO project will develop another good project wherein their coin is only acquired by mining and not buying, but they need a hell of a plan to come up with a good result.
What happens in 2140 when the last BTC was mined with the confirmations of the transactions in the blocks and thus with the block rewards. There should not be more BTC than Rewards, because 21 Mill BTC were gemined.
How are the transactions then confirmed?
How are the transactions then confirmed?
I see no reason why should I be worried about this, neither my children
by that time, Earth might not even exist anymore, seeing the way this civilization is progressing...
I found an interesting article on BTC-Echo on this topic.
Below the link
It´s in german languages
https://www.btc-echo.de/was-passiert-wenn-der-letzte-bitcoin-gemined-ist/
Below the link
It´s in german languages
https://www.btc-echo.de/was-passiert-wenn-der-letzte-bitcoin-gemined-ist/
What happens in 2140 when the last BTC was mined with the confirmations of the transactions in the blocks and thus with the block rewards. There should not be more BTC than Rewards, because 21 Mill BTC were gemined.
How are the transactions then confirmed?
How are the transactions then confirmed?
Very good question sir, you can just magine your country on where you belong have a lots of coins money or paper money why is it that sometime money on the floor are limited and minimal? that supposedly stocks circulated are volume Because of own machine to be use to create that kind of money, why they create a new volume of stocks?. That is also the future of bitcoin if all stocks are mined by miner. The founder of bitcoin which is until now he is unknown person, i think he will give an additional bitcoin for us without prior notice.
By 2140, we will no longer be alive, even our children will die too, so what's the difference with bitcoin? For a whole century with little, the world will change, not to mention the mining of bitcoin.
For a whole century with little, the world will change, not to mention the mining of bitcoin. What happens in 2140 when the last BTC was mined with the confirmations of the transactions in the blocks and thus with the block rewards. There should not be more BTC than Rewards, because 21 Mill BTC were gemined.
How are the transactions then confirmed?
What a long years my friend.I dont know whats happening in that stage of crypto currency when its high or low.But for now i will focused on what I can do to expand my profits. How are the transactions then confirmed?
Most people do not know what will happen after the bitcoin runs out at the mine which is estimated to be exhausted by 2140, and we certainly will not live that time of year, but I think it will run automatically in confirmation.
It will mean Bitcoin price will sky rocket due to less supply as more and more people will want to have a piece of bitcoin. It will be very rare coin and will be hard to get.
Is there something I'm not getting here.When there is no more bitcoins to mine,how are you going to create any more blocks in the chain?
If I understood the payment system correctly, more blocks have to be generated in order to verify the correctness of all payments.But as we approach the last bitcoins to be mined the number of hashes required to find a block will approach inifinity.When all the bitcoins have been mined you will have the equivalent of division by 0?
If I understood the payment system correctly, more blocks have to be generated in order to verify the correctness of all payments.But as we approach the last bitcoins to be mined the number of hashes required to find a block will approach inifinity.When all the bitcoins have been mined you will have the equivalent of division by 0?
What happens in 2140 when the last BTC was mined with the confirmations of the transactions in the blocks and thus with the block rewards. There should not be more BTC than Rewards, because 21 Mill BTC were gemined.
How are the transactions then confirmed?
miners will still be around, it just that there won't be block-rewards for miners anymore, only tx reward ( transaction fee reward ). How are the transactions then confirmed?
What happens in 2140 when the last BTC was mined with the confirmations of the transactions in the blocks and thus with the block rewards. There should not be more BTC than Rewards, because 21 Mill BTC were gemined.
How are the transactions then confirmed?
How are the transactions then confirmed?
There are 2 first arguments, some say that miners will be forced away from the rewards of the blocks they receive for their work once the supply of Bitcoin has reached 21 million. In this case, these miners may need to rely on transaction costs to maintain their operations. Miners will then find inaccessible processes, leading to miners being depleted, the Bitcoin network concentration process, and many of the negative effects that occur on the Bitcoin system, transaction costs alone will not be enough to keep Bitcoin miners financially dissolved once the mining process is over.
On the other hand, there is reason to believe that transaction costs and mining costs will actually increase in the future. The mining chip will be small and very efficient. This will reduce the burden placed on the miners and allow mining to be activities that have lower initial cost. And transaction costs can increase, so this can help miners to stay afloat.
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