what happens to btc after the last coin has been mine

bitcointarget

sr. member

Activity: 350

Merit: 250

Quote from: erickkyut on September 22, 2017, 01:10:58 AM

We don't know what might happen because it is in the future. There are lots of possibilities. By that time, Bitcoin might be the Universal Currency and have a very high value. It is also possible that by tthat time, Bitcoin is fighting for its survival in the market because the people love other coins than Bitcoin. We can never assume anything.

To get mined of 100% of the total supply, this will take forever mathematically. This is not like years, because it will converge to 99.9999% always.

There would be price inflation after the supply was mined.

FJNuñez

full member

Activity: 140

Merit: 100

🌟ATLANT ICO: 7/09/17🌟

Then it becomes extremely profitable! Since it's scarce and there is only 21 million bitcoins you will enjoy the benefit of great rewards if you buy and hold now.

DoublerHunter

hero member

Activity: 2590

Merit: 644

If the last coin has been mine then bitcoin will be so expensive on its price because the supply is very limited since the supply is mined out and the only thing that we can depend for the supply is the demand for selling bitcoin in the market and that will make the price of bitcoin even more volatile and i think that it will not become a stable coin like other investment vehicles.

makishart

legendary

Activity: 3108

Merit: 1029

Quote from: Juggy777 on September 22, 2017, 04:48:20 AM

Quote from: onyebuchi81 on September 21, 2017, 07:48:22 PM

since bitcoin is a POW coin,what will be awarded to miners after the circulating supply reaches the maximum supply which is 21 million ,that is when the last coin has been mine

In the long run we really can't even predict what will happen, but what I feel is they shall recieve the money from transactions fee as usual. Then also the price shall be so high,that It can be a collector item lol. So they may even put up bidding process, as we all know that's it's a long run we can't really say, with so many forks happening, anything is possible but one thing is for sure, miners shall continue to earn at our expenses.

If that thing could make the transaction fees go higher when at the same time the price of bitcoin is on its peak. I'd be suffering and be sure to not use bitcoin again. The current transaction fee which take approximately few dollars are enough to make me think twice before doing transcation.

Juggy777

hero member

Activity: 2646

Merit: 686

Quote from: onyebuchi81 on September 21, 2017, 07:48:22 PM

since bitcoin is a POW coin,what will be awarded to miners after the circulating supply reaches the maximum supply which is 21 million ,that is when the last coin has been mine

In the long run we really can't even predict what will happen, but what I feel is they shall recieve the money from transactions fee as usual. Then also the price shall be so high,that It can be a collector item lol. So they may even put up bidding process, as we all know that's it's a long run we can't really say, with so many forks happening, anything is possible but one thing is for sure, miners shall continue to earn at our expenses.

SmokeMcPay

full member

Activity: 168

Merit: 100

Movement App Dev.Team

The normal and most probable thing is that after no more bitcoins join the market the price will increase significantly I think that's the reason of so many holders.

maokoto

hero member

Activity: 770

Merit: 500

✪ NEXCHANGE | BTC, LTC, ETH & DOGE ✪

Hopefully, it will be popular and expensive enough, and it will just circulate up and down, people buying and selling with Bitcoin and all.

However, there can also be improvements to the protocol from them on...

laluna24

full member

Activity: 511

Merit: 100

Quote from: alex 666 on September 22, 2017, 04:18:16 AM

After lost coin mine the part of supply will stop so if have many demand price will up

I think bitcoin price will become very expensive by that time. And yes the demand is also very high but I cannot say more as of this time. Because we will never know what might gonna happen in the future.

alex 666

newbie

Activity: 22

Merit: 0

After lost coin mine the part of supply will stop so if have many demand price will up

Maveth13

full member

Activity: 336

Merit: 112

It's still a bit of a long time until the last bitcoin will be mined, but after that miners would still probably continue to mine small amounts then eventually transaction fees would be the reward for them. The problem is how profitable would that be, and would it be fair. And would transaction fees largely increase in line with this.

allthebitandbobs

sr. member

Activity: 1162

Merit: 252

There has already be bitcoin cash .I guessing they will do a hard fork a.They might be 10-20 fitcoin forks by that stage anyway so i wouldnt worry to much about it

tiggytomb

legendary

Activity: 1848

Merit: 1000

Transaction fees will be the reward, it is a good bit away right now so who knows what the world will look like at that time, imagine if bitcoin really broke through and was the main global currency, the fees would be very much worth it.

loopes

sr. member

Activity: 952

Merit: 323

Quote from: Lagduf on September 21, 2017, 09:59:58 PM

Quote from: onyebuchi81 on September 21, 2017, 07:48:22 PM

since bitcoin is a POW coin,what will be awarded to miners after the circulating supply reaches the maximum supply which is 21 million ,that is when the last coin has been mine

The first bitcoin will never reach 21 millions supply, and the second the miners still run the nodes to secure the network without a reward from the bitcoin. But i think the transaction fees will be gradually increase as long as the miners will not receive the reward from the block again.

but cheapest fee is one of the most features of bitcoin which many people have interested in with bitcoin. the users of bitcoin will not satisfy again while they use bitcoin anymore due to bitcoin lost 1 most important thing.
if that's really happen, demands of bitcoin will decrease and we would not see the price of bitcoin increases.

drwhobox

full member

Activity: 756

Merit: 133

- hello doctor who box

Some says that transaction fees would pay the miners. It would tke 100+ years for the last Bitcoin to be mined and the price of bitcoin would be really high by that time. Due to demand of the community on having some BTC

frowsiter

sr. member

Activity: 714

Merit: 261

As there won't be any more coins to mine then firstly miners will get engaged into confirming the transactions. As they won't be having any coins to mine then that's the priority which would be allotted to them. Besides that the price of bitcoin will just boost very high. Due to high demand and limited supply that's going to be most amazing era with bitcoin equal to six figures of salary. Moreover, there might be another coin getting created like the bitcoin only and people may introduce whole new mining industry with that. Anything is possible with coming future and after the last coin being mined.

erickkyut

hero member

Activity: 1176

Merit: 509

We don't know what might happen because it is in the future. There are lots of possibilities. By that time, Bitcoin might be the Universal Currency and have a very high value. It is also possible that by tthat time, Bitcoin is fighting for its survival in the market because the people love other coins than Bitcoin. We can never assume anything.

ramsdaj28

sr. member

Activity: 420

Merit: 256

اللعنة

Quote from: onyebuchi81 on September 21, 2017, 07:48:22 PM

since bitcoin is a POW coin,what will be awarded to miners after the circulating supply reaches the maximum supply which is 21 million ,that is when the last coin has been mine

After the 21 milionth bitcoin is mined, the miners are done with bitcoin mining contract. So what's next? Miners would probably (and really) be paid with transaction fees from the bitcoin transactions people are making. Another is that, they might find new contract with other companies planning to create new altcoins or tokens.

Eric Cartman

hero member

Activity: 741

Merit: 500

CryptoTalk.Org - Get Paid for every Post!

The rules will remain the same, only the block reward will be 0

ralle14

legendary

Activity: 3374

Merit: 1922

Shuffle.com

Quote from: Chinsmokers on September 21, 2017, 10:39:13 PM

Quote from: Realist247 on September 21, 2017, 09:08:00 PM

Bitcoin will never reach 21M. It will be dead long before that happens.

How come you already know what will happen? noone know how much supply of bitcoin left.

That's not true, you can check the total bitcoins on blockchain.info or here. You need to read more about bitcoin.

Quote from: rommelzkie on September 21, 2017, 07:56:03 PM

If bitcoin stay the same until that day the price of 1 btc will be very high and transaction fees will be the reward for miners who validate the blockchain.

but we don't know the future yet and there are many circumstances like hard forks that may come to bitcoin.

I agree more changes for bitcoin is expected to come in the future. Once bitcoin fees starts to become expensive there's a chance that people will start moving to bitcoin's counterpart. I hope that doesn't happen though.

Quote from: Eric Cartman on September 21, 2017, 11:30:54 PM

The rules will remain the same, only the block reward will be 0

Not really 0 but miners will still mine some satoshis or dusts before they mine the last whole coin.

ahmedjamal1998

hero member

Activity: 728

Merit: 537

Well at that time there won't be any other rewards except for the transaction fees.
It's expected that all 21 millions coins would have been mined by 2030. That's not far. At that point will mining stay profitable ? Nobody knows.

Maybe the whole world will join bitcoins at that point that the number of transactions is so high and makes continuing to mine worth it. But it might also not be so fair.

If you take into consideration, full nodes that run now aren't rewarded in any possible way. Although they're seriously important to the bitcoin network. Before we start thinking about 2030 I guess some rewarding system should be implemented for those 6000 nodes that keep our bitcoin alive.

Topic: what happens to btc after the last coin has been mine (Read 714 times)