What happens after every single Bitcoin is mined

Westant

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Quote from: gkv9 on December 22, 2015, 05:28:35 PM

Either it will get completely accepted in the world and will get used as a currency itself with its own monetary value, or else we might witness the end of this never-ending technology...

I think the bitcoin will not end after all. It will evolve all the time. It can fork into several coins, all with the advanced features.

gkv9

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!!! RiSe aBovE ThE StoRm !!!

Either it will get completely accepted in the world and will get used as a currency itself with its own monetary value, or else we might witness the end of this never-ending technology...

Westant

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Quote from: Hashminers on December 22, 2015, 11:06:22 AM

Price of bitcoin will increase because of the limited supply. Bitcoin will rise so high that only rich people will be able to buy bitcoins.

Rich people will be able to buy 1 bitcoin in the future. Poor people will be able to buy milli or micro bitcoins.

BruceLee007

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i guess bitcoin would be then a great currency in my opinion the price would be very stable right now and miners would get all the bitcoins from the fees that the senders pay for transactions and not from mining as they get it now though its still a long time to go till this happening

Denker

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Quote from: HardcoreSuperstar on December 21, 2015, 08:48:24 PM

Will the price become more steady or will it continue to fluctuate as it does now?

This will happen in year 2140 or so.
To make a prediction for something which is that far away is almost impossible.
However if Bitcoin would still exist around that I assume it achieved to make the step of being a world currency.This would mean world adoption would have happened and billions of peole are using it.So the volatility wouldn't be as much as now, more the opposite would be the case.And transaction fees would take over the place for reward as there would be many millions of it each day.
Something like that would be a very positive any maybe naive to believe future scenario.

The bad scenario would be that Bitcoin disappeared and something else is in it's position.Therefore more explanations of what will happen regard the last mined BTC is not needed.

RyNinDaCleM

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Legen -wait for it- dary

I didn't read the thread so I don't know if this was already said, but this is what will happen.
Transactions have to be high enough to generate enough fees to incentivize the miners to continue mining or Bitcoin will die. Simple as that.

The only option to that is if everything from household appliances to cell phones all just mine to secure the network by default thereby eliminating the need for giant operations for mining and making difficulty a non-issue since the hash power will be so spread out and so large, it just won't matter about the trivial power consumption from each individual household.

Tavos

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I would think it would become more steady as there are no more Bitcoin entering the systems.

Hashminers

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Price of bitcoin will increase because of the limited supply. Bitcoin will rise so high that only rich people will be able to buy bitcoins.

Junko

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After every single bitcoin is mined, people of the future will look back at these threads with wonder and amusement and either thank their ancestors (us) for buying bitcoin or curse them for not buying bitcoin.

newcoins1978

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Hopefully by then mass adoption has happened by the people. If it did then the demand will keep on rising since supply is limited.
Bitcoin will continue to grow in value, higher than we can imagine.

Unless bitcoin dies and everyone just leaves it for what is.

LuckyYOU

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Quote from: lucasjkr on December 22, 2015, 07:24:17 AM

We'll all be dead by then. Someone elses problem.

Lol true but somehow I am still holding on to the thought that I will still be alive when mass adoption to bitcoin will happened. I hope I can leave this world knowing that my grandchildren are able to live of the bitcoins I have made.

callynyan

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At first tx fees would be high but then they would start to get lower and lower as people begin to realise the worth of bitcoin.

vendetahome

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i believe that till the time every single bitcoin will be mined the price of bitcoin will be several for a few decades already i hope that the price will not be as low as now and that it reach at least 10000 dollar per bitcoin

Seal

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As the mining reward continues to half, a tipping point will be reached where transaction fee rewards will start to become the main incentive to mine.

DannyHamilton

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Quote from: shit coin on December 22, 2015, 07:55:33 AM

Don't you care how well provided for your grandchildren will be when you are gone? Our grandchildren will still be around to use bitcoin when we are long gone and dead, and if we leave a mess behind, they inherit it.

Sure, but this isn't a question about whether a mess is being left behind. This is a question about trying to guess what the exchange rate volatility will be more than 120 years from now on a deflationary currency. Any answer is no more than a silly guess. There's no way to know how (or if) future generations will value bitcoin or if they'll even continue to value bitcoin at all.

Here's a similarly silly question...

Will the exchange rate of gold be more volitile or less volitile between the years 2130 and 2150 than it was between the years 2005 and 2015?

If you can't answer this question with certainty, then are you concerned that gold might be leaving a mess behind for future generations to inherit? How do you intend to fix this gold problem?

shit coin

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Quote from: DannyHamilton on December 21, 2015, 09:48:33 PM

Quote from: HardcoreSuperstar on December 21, 2015, 08:48:24 PM

Will the price become more steady or will it continue to fluctuate as it does now?

In more than 120 years from now? In the year 2104? After we are all long gone and dead?

Why does it matter? None of us will be around to use it.

What if we leave some bitcoins to our grandchildren in our wills? Don't you care how well provided for your grandchildren will be when you are gone? Our grandchildren will still be around to use bitcoin when we are long gone and dead, and if we leave a mess behind, they inherit it.

teddy5145

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Quote from: HardcoreSuperstar on December 21, 2015, 08:48:24 PM

Will the price become more steady or will it continue to fluctuate as it does now?

The price will sky rocket to the moon Wink

When all of the coin are mined we are stuck with that number of coin along with high demand, thus creating a rarity for bitcoin
That should be enough to pump the price Wink

amacar2

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After all bitcoins get mined, supply will be constant which i suppose will make price mostly stable. But price may be steady little sooner than all coined mined.

HarryKPeters

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With the supply being limited it would be fair to say the price could increase. However this depends on a lot of factors
The bitcoin economy should be robust and flourishing

With this there will be less supply then demand and we can expect an increase.

lucasjkr

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We'll all be dead by then. Someone elses problem.

Topic: What happens after every single Bitcoin is mined (Read 1790 times)