Topic: what happens when all the bitcoins have been mined? - page 3. (Read 1055 times)
It takes at least 30 more years to dig up the number of bitcoins. At that time, a new solution was found for bitcoin. You do not need to worry too much. I think the world will have a plan for future bitcoins
if Bitcoin has run out in the mine it will be very expensive and it will be difficult to medaptkan it, I think Bitcoin if everyone wants to get it I do not know how much Bitcoin price will come and I can not imagine it..
The most direct and obvious consequence of such an event, of course, is that the miners will no longer receive rewards for mining, which is, despite the considerable slowdown in the process of calculating blocks, the main part of the financial attractiveness of mining. Miners will receive only commission for transactions, which for many of them may prove to be economically unprofitable, i.e., simply will not cover their costs. Then, theoretically, a mass outflow of miners and an avalanche-like reduction in the number of computers on which the global block-chef system is maintained and, as a result, the destruction of the entire network or its centralization in the hands of the few remaining, which is a nonsense for a real crypto currency, can begin. But this, I repeat, under the existing protocol, but it can be changed.
so bitcoins protocol has to be changed for its long term survival is that correct?
hi, can anyone tell me how long it will take to mine all the coins and what will happen to the network.
Supposedly it will take until around the year 2140 before the last Bitcoin is mined. About 75% of Bitcoins have already been mined (under 17 million) so you can see that the mining difficulty is increasing over time. It will get to the point where less than a whole Bitcoin is mined every year. This is one reason why the value of Bitcoins should keep increasing over time as the number of Bitcoins mined every year keeps decreasing.
If all the bitcoin will all be mined, i guess its value will rise up. It will be popular because it can become the main source of the income. But now I guess bitcoin do not have an end. It has a beginning but do not have a definite end. Now miners can mine bitcoin, invest in bitcoin because we must use it well. We must be careful to our decision and do not panic if it's value drop below. Now we must think that bitcoin has an end but we must focus on it now.
In my opinion, when all the bitcoins would be mined, their price will slowly grow up like price of finite minerals (gold, platinum etc.). But there is a problem: if now miners get fixed reward from the System, then this reward would be so little, that mining as it is now, won't be in demand. So, the only way of development when all the Bitcoins would be mined, is "large" transactions with large comission, because there is no other way of motivation for miners
as i heard it will take decades. over that time price of BTC will be going up. when all 21 million bitcoins will be over i guess the bubble will blow up 
hi, can anyone tell me how long it will take to mine all the coins and what will happen to the network.
Total of 21 million bitcoin will be mined by 2140 so we might not be alive by that time. Bitcoin's price will be very high so that miners can be in profit even with just transaction fees and 0 block reward. Bitcoin network is designed to run forever...
As you said the last bitcoin will be mined in the year 2140,still long way to go and at the time the price of bitcoin will be unimaginably high and the miners still have to be operated if all the bitcoins were mined to confirm the bitcoin transactions and the miner will get good rewards for the confirmation because even the fraction of a bitcoin worth a lot at that time.
hi, can anyone tell me how long it will take to mine all the coins and what will happen to the network.
Total of 21 million bitcoin will be mined by 2140 so we might not be alive by that time. Bitcoin's price will be very high so that miners can be in profit even with just transaction fees and 0 block reward. Bitcoin network is designed to run forever...
hi, can anyone tell me how long it will take to mine all the coins and what will happen to the network.
I do not know whether this will happen or not. But I think it will not be like that. Because the Bitcoin Transaction continues, there will be.
Bitcoin will become more scarce and one of two things will happen:
When it will happen can't be predicted exactly. Depends on the miners and difficulty of mining.
- Bitcoin dies a slow death because nobody wants it anymore (unlikely)
- Bitcoin prices will skyrocket because it becomes scarce/limited.
When it will happen can't be predicted exactly. Depends on the miners and difficulty of mining.
hi, can anyone tell me how long it will take to mine all the coins and what will happen to the network.
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