Topic: What happend 2140 all BTC are mined - page 2. (Read 411 times)
I know this will raise the price of bitcoin because of scarcity. I also agree with the fact that the majority of bitcoin is mined and the amount of transaction costs collected in the newly mined blocks will be enough to cover the payoff, will appeal to more views on this subject.
It's too early to seriously guess what will happen after such long period of time. Paying attention that cryptoworld is a part of a real world and there might be significant changes - we simply cannot predict future of Bitcoin as it depends on a lot of things.
I would like to thank all users who posted their opinion in this Tread.
It is very interesting to read the different opinions.
It is very interesting to read the different opinions.
maybe in the year 2140 bitcoin has reached the limit of 21 million and can no longer in the mine bitcoin become scarce in the market and the price is very expensive $ 1,000,000 for 1 bitcoin 
Or maybe quantum computing will mine all before 2038
Maybe, technology is advancing with great speed. I think nobody can`t claim nothing at this point, even until 2038 there is 20 years left, many things can happen in that time. What is interesting for me is how people are accepting bitcoin and blockchain technology I`m sure that the same will be with quantum computing, people first doubt in it, then they will test it, then so many lies will be spread how its used by criminals and terrorists, etc. So even if it comes in 2038 it will take years to be accepted.About 2140 I don`t know what to say, why would we even think about that. Nobody from here now will not be alive in that time, how much we are destroying this country every year its a question will whole world exist in that time, bitcoin is irrelevant.
Miners will still do the job and they will now mine to confirm transactions and they'll earn through the tx fees. Read these articles for better understanding.
[1]Will miners continue to mine bitcoin after that? [2]Will mining still be profitable? [3]Will miners used in mining evolve to consume less electricity and make mining profitable with fees in the future? [4]How will miners survive with tx fees? I doubt miners will still do the job if these questions are still questioned 50 years from now. I also think that instead of earning through tx fees alone, there would be methods invented to make mining profitable again before all bitcoins are mined in 2140.[2] Yes
[3] We don't know what the future lies ahead.
[4] They are already surviving today so by that time they can still but we don't have to think about it anyway, it's a century before it happens.
@batang_bitcoin: Thanks for the link
You're welcome. 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?
well, if many peoples still use bitcoin, then bitcoin price will more spiking at that time because bitcoin circulation cannot increased anymore.
bitcoin demands can increase, but bitcoin supply cannot increase. resulting a very expensive price in coin.
Or maybe quantum computing will mine all before 2038
@ballexplorer: A good question is: If many people have to think about it.
I too have thought about it, even if it is still a long way off.
But after all, it is also a question of the conception of the BTC and therefore the question is justified.
With our current understanding of the BTC Blockchain, there will still be blocks in many years to be entered in the transactions and confirmed.
There will then be transaction fees for the miners.
@batang_bitcoin: Thanks for the link
@amishmanish: I like your thoughts on distribution and decentralization.
I too have thought about it, even if it is still a long way off.
But after all, it is also a question of the conception of the BTC and therefore the question is justified.
With our current understanding of the BTC Blockchain, there will still be blocks in many years to be entered in the transactions and confirmed.
There will then be transaction fees for the miners.
@batang_bitcoin: Thanks for the link
@amishmanish: I like your thoughts on distribution and decentralization.
This won't be any of your priority I guess.
If it's on a curiosity purpose, you can count on a POS switch!
If it's on a curiosity purpose, you can count on a POS switch!
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 don't understand this question.
but what I think for you, the question is, are you still there in 2140? we will never know what will happen in the future. and until now bitcoin still has not reached its maximum supply, in other words can still be mined.
The last bitcoin will be produced much earlier than expected, there are 4,000,000 bitcoins left, so that there will be changes in the coming years, but the consequences will be unclear
bitcoin will have moved to pos by then.......... dont worry about it since you will be less worried by then too i expect
there are tx fees left to allocate after mining is done
Less worried due to sleeping 6 feet under. Jokes aside, if bitcoin is to survive as global uncensorable cash by 2140, it will have to undergo transformations that might not seem realistic today. I get the feeling that today bitcoin is not treated with the respect it's due. The vibe I get from interacting with somewhat knowledgeable individuals on this matter is somewhat derogatory. They are viewing as an amateur product with lots of hype behind it. And to be honest, the petty politics plaguing the space are not helping. there are tx fees left to allocate after mining is done
Bitcoin will have to change into something user friendly, but professional. I don't know how else to put it, other than making a simple analogy: most people see bitcoin like a young skater with decent talent. Older folk tend to look down on him, cause they don't understand him. They don't think and honestly don't care if he ends up famous because of what he does. In order to appeal to this category of people, Bitcoin will have to be able to wear a suit and tie, at least from time to time.
Miners will still do the job and they will now mine to confirm transactions and they'll earn through the tx fees. Read these articles for better understanding.
Will miners continue to mine bitcoin after that? Will mining still be profitable? Will miners used in mining evolve to consume less electricity and make mining profitable with fees in the future? How will miners survive with tx fees? I doubt miners will still do the job if these questions are still questioned 50 years from now. I also think that instead of earning through tx fees alone, there would be methods invented to make mining profitable again before all bitcoins are mined in 2140. 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?
Ye I can imagine it switching over to POS as an option but there is also an option to tip when a miner decides to mine a block. I can see this tipping implementation along with transaction fees as being sufficient enough to incentivise miners to secure the network
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?
You are worrying much my friend. At least if all of the Bitcoin are mined then by the time that it happens then you are already rich.
Yes after 2140,there would be no more blocks to mine bitcoin and hence there would be no more rewards for miners for confirming transactions.
In fact there will still be blocks to mine, because without new blocks there would be no possibility to record new transactions in the blockchain. However, there will be no reward in the form of coinbase transaction (the first transaction in the block included by the miner to collect the block reward). There will only be a reward as a sum of all transaction fees included in the newly mined block. 
I have been meaning to ask similar question since but I didn't let it bother me much because we will all be gone by then. All I know is that this will push up the price of Bitcoin due to scarcity. I also agree more with the fact that once the majority of bitcoins are mined, the sum of the transaction fees collected in a newly mined block would be enough to cover for the mining reward. It will be interesting to see more views on this.
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?
Yes after 2140,there would be no more blocks to mine bitcoin and hence there would be no more rewards for miners for confirming transactions.At such a condition,transaction fee would be increased for miners as a compensation for the miners to keep the process ongoing. 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?
Miners will still do the job and they will now mine to confirm transactions and they'll earn through the tx fees. Read these articles for better understanding.How are the transactions then confirmed?
What Happens to Bitcoin After All 21 Million are Mined?
What Happens to Bitcoin Miners When all Coins are Mined?
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