What happens after every single Bitcoin is mined - page 2.

medUSA

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

What happens after every single Bitcoin is mined
Will the price become more steady or will it continue to fluctuate as it does now?

We expect the last block reward to be in 2140. Over 100 years from now. It could be argued that we would see the effects of zero block reward well before the actual day, like when block reward could not cover the costs of mining. I would imagine Bitcoin would be abandoned by then, moving on to a more complex revolutionary system.

helloeverybody

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What happens after all coins are mined is important if btc is to survive. People won't but into btc of it isn't future proof, not of we are aiming to make it a currency I know I read somewhere that transaction fees will be higher and paid to miners but I don't know if that would be incentive enough to have the same mining operations as at have now.

LuckyYOU

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I think that after all the bitcoins are mined that there will be more demand for bitcoins since there are no more to be mined.

If there's going to be more demand I believe that the price will go even higher than it is right now. Sadly enough our generation of bitcoin users won't be living to see this day though.

Amph

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two things will essentially happen

bitcoin will reach the so called "fee era" where one single satoshi will be worth a ton and miners can continue to have their profit because of fee

or bitcoin died long time before we can even dream about the 2140 year...

HardcoreSuperstar

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Thanks for the thoughts. I was predicting that it would eventually become more and more steady. Although we won't see this in our lifetimes, I sure do hope the concurrences take over hard currencies

DannyHamilton

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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?

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.

Anyhow, it's impossible to predict what the world will be like more than 120 years from now, so there's no way to know how bitcoin will be valued.

Seriously, do you think people in the year 1890 had any idea what technology would be like today, or how people would use it?

Quote

The tabulating machine is an electrical device designed to assist in summarizing information and, later, accounting. The results of a tabulation are electrically coupled with a sorter while displayed on clock-like dials. The concept of automated data processing had been born. In 1890, Herman Hollerith invented the mechanical tabulating machine, a design used during the 1890 Census which stored and processed demographic and statistical information on punched cards.

Think they could have guessed what the 2015 value of their "tabulating machine" would be?

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Quote from: MyBTT on December 21, 2015, 08:59:39 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?

I would assume that after every single coin is mined... Which will take ages of course, that the currency supply stabilises and the price will probably become steadier than right now because right now the currency base is still expanding.

But it'll still fluctuate, it'll just become steadier. Because right now the miners are dumping the coins to pay their electricity bills and after every single coin is mined they don't have to worry about that anymore Wink

I think that when more people start to learn about Bitcoin, the price is rise as the demand for Bitcoin will rise. When all Bitcoins are mined, I think the price will still rise as no more Bitcoin will come onto the market.

MyBTT

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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?

I would assume that after every single coin is mined... Which will take ages of course, that the currency supply stabilises and the price will probably become steadier than right now because right now the currency base is still expanding.

But it'll still fluctuate, it'll just become steadier. Because right now the miners are dumping the coins to pay their electricity bills and after every single coin is mined they don't have to worry about that anymore Wink

TastyChillySauce00

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AFAIK, every block solved/mined,the difficulties will be increased and the reward will be decreased, that's prevent bitcoin to go fluctuating
correct me if im wrong

HardcoreSuperstar

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

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