Topic: What Happens After 21 Million Coins Mined? (Read 468 times)
Bitcoin conditions may be determined by crypto market conditions, in case of a decline in bitcoin market cap then most likely after all mined bitcoin, the price will decrease. But, if the market conditions are still good then there are two possibilities that can happen to bitcoin that is stable and increasing prices if the bitcoin enthusiasts get higher. I hope the second option will happen if the bitcoin is completely mined.
As unmined bitcoins get lesser, the difficulty and the time needed to mine gets higher. So unless technolgy advances on par with the speed of mining, then we will see the end soon. Otherwise, years or even decades more will be needed.
That is not how it works. The production of new bitcoins is on a fixed schedule. It doesn't matter how many miners there are or how good the technology is. Please read this: https://en.bitcoin.it/wiki/Controlled_supply
As unmined bitcoins get lesser, the difficulty and the time needed to mine gets higher. So unless technolgy advances on par with the speed of mining, then we will see the end soon. Otherwise, years or even decades more will be needed.
Even after that, miners will not decrease as the earnings from transaction fees alone is good enough to keep them going. We all know the number of people who knows and use bitcoin and it will just increase as rapidly as it used to.
Even after that, miners will not decrease as the earnings from transaction fees alone is good enough to keep them going. We all know the number of people who knows and use bitcoin and it will just increase as rapidly as it used to.
Since most coins have a cap, once all coins are mined, will the earnings of miners be dependent on the number of transactions? If so, I wonder what will happen to less popular coins when the time comes.
This definitely wont happen anytime soon and probably bitcoin might not even be there by then
The price of bitcoin is too high and mining 21 million of them is a very big thing
The miners would still receive money through the transaction fees
The price of bitcoin is too high and mining 21 million of them is a very big thing
The miners would still receive money through the transaction fees
I think if bitcoin is fully mined then maybe the miners will switch to mine other coins such as ethereum, ethereum classic, siacoin, zcash, monero, pascal, electroneum, and others. Because even if they have invested by buying a mining tool and obviously they will use the tool in order to continue to work and produce something.
There is more then 100 years when the last bitcoin will be mined so probably the current tools to mine bitcoin will be dead and will be antique and their current owners will not be anymore in this world, the correct answer is we don't know what will happen when 21 million coins are mined but there is one guess, the price will be a lot higher.
After all of the Bitcoins are mined, they will probably be split up. By how much they are split up depends on how much each coin is worth at the time.
What will be the state of Bitcoin after all coins are mined? Even before that what happens to miners as it gets close to the final mint? Is one 1 Satoshi, 00000001 the absolute smallest demonimation or can fractions thereof be created if needed?
From my understanding, we are kind of seeing it right now. While new Bitcoin can be mined, it seems to be a slow complicated process. I'm not sure of how accurate the snapshots are, but essentially, the Bitcoin continues to sell, regardless of whether or not new ones are keeping pace. They are already selling them in fractions, which is why their value has gone up.
One would assume, that if someone suddenly dropped the remaining Bitcoin into the market, it would drive down the value of every Bitcoin to adjust. Eventually, the market would adjust the value according to the remaining traders, and would continue to be traded in fractions. The slow process of mining them is probably intended to help provide stability as the total number is produced. Since it is digital, it can be divided infinitely into fractions and adjust appropriately, at least in theory.
What makes it complicated, is that we think of this in terms of real money value. Bitcoin wasn't really made to hold monetary value in another form of currency. Instead, it seems it was created in order to offer an alternative to fiat currencies created and controlled by governments. The value of Bitcoin is only affected by those willing to trade and recognize it.
What will be the state of Bitcoin after all coins are mined?
In case bitcoin survives till that time, no bitcoin to be created, but it will be used as it's a rare precious coin . Is one 1 Satoshi, 00000001 the absolute smallest demonimation or can fractions thereof be created if needed?
I think, their is a necessity to create smaller fragments of bitcoin since its price is progressively going up and up , because, at a specific time, 1 satoshi will be significantly worthy 
What will be the state of Bitcoin after all coins are mined? Even before that what happens to miners as it gets close to the final mint? Is one 1 Satoshi, 00000001 the absolute smallest demonimation or can fractions thereof be created if needed?
I think if the 21 million supply of bitcoin will already mined? Maybe the fees in mining become too big and i think the value of bitcoin goes up to the highest price because the demand will go high so we need to expect that the value of bitcoin will go increase more and more.
I think if bitcoin is fully mined then maybe the miners will switch to mine other coins such as ethereum, ethereum classic, siacoin, zcash, monero, pascal, electroneum, and others. Because even if they have invested by buying a mining tool and obviously they will use the tool in order to continue to work and produce something.
That time will be very far from now. Adjustments to the protocol will almost be certain by then.
In addition, the transaction fees will more than likely be sufficient to cover the mining costs.
In addition, the transaction fees will more than likely be sufficient to cover the mining costs.
many questions like this. well, once the bitcoin has been mined, the miners will still get the transaction fee. but, it still takes a long time. rather than thinking about it, we better maximize today to get profit.
When all 21 million bitcoins are mined, and this is supposed to happen in 2140, bitcoin will practically become a storehouse of value. Of course, a certain number of transactions will occur regularly and at the expense of this the miners will work. Another part of them will switch to other coins. By that time, there will be many branches of bitcoins, in which the number of ion exchanges will exceed much more than 21 million. However, no one can tell exactly what will be bitokoyn in 2140.
What will be the state of Bitcoin after all coins are mined? Even before that what happens to miners as it gets close to the final mint? Is one 1 Satoshi, 00000001 the absolute smallest demonimation or can fractions thereof be created if needed?
That question has been answered at least 21 million times (Google says 641,000,000 results). You must have seen it answered already.
Rather than answering it again, here is a link: http://lmgtfy.com/?q=What+Happens+After+21+Million+Coins+Mined
Of course I google searched. I was hoping to get more feedback regarding getting close to the 21 million, prior to the finality of the mint. At 20 million I assume many miners will drop out and only a select few will continue.
All the people now in the forum don't know what will happen after the BTC is mined. That will be the next century. However, when there is no end of mining, there will be other coins or other block chain technology instead of bitcoin, which I think is very possible. If bitcoin has been speeding up and has more forks, it may not be over for a few years.
when all 21 million coins are mined due to high demand of bitcoins in the crypto currency market there is high chance for the bitcoins to increase its value ten thousand times more than the current bitcoin price as more bitcoin user's are entering the bitcoin community every day. The price will still keep on increasing as the word of bitcoins are reaching far and wide which is one of the main reason for the new entrants in the bitcoin market.
Well the last coin is supposed to be mined sometime in 2140 an I'm fairly certain that bitcoin will not be around by then. Who knows what sort of world we will be living in, in 2140. So whenever this question is asked, my go-to response is that it's useless to think about it, since no one knows what 2140 will be like.
Very good response!
it is useless to think about it but yes as mentioned the mining which may be different to now will be fee based.
actually think about the computing power which will be available in 2140 ...
hopefully bitcoin transactions will grow in tandem so there will still be an "unconfirmed transactions" list for them to deal with
Miners will start to get only taxes base to mine, this shouldn't mean too much for us now but when it happens miners importance will be sky high to keep the value of the coin the way is it.
What will be the state of Bitcoin after all coins are mined? Even before that what happens to miners as it gets close to the final mint? Is one 1 Satoshi, 00000001 the absolute smallest demonimation or can fractions thereof be created if needed?
The miners will start getting transaction fees instead, and assuming that the growth of bitcoin continues, there will be millions of transactions so it will be as profitable as it is right now.
*continue to get
Miners already collect tx fees right now..and will continue to do so until the last block is mined. After the last block is created they will mine for the tx fees only and we hope that will still be profitable enough for the miners to continue to support the network.
1 satoshi or 100 millionth(.00000001) of a bitcoin is the smallest amount supported by the protocol as of now. With consensus this could be modified if needed in the future but there is no need atm it seems. .00000001BTC=$0.0001722 today...when 1 sat=$.01 we might need to start thinking about this.
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