What happens when Bitcoin reaches its Max Supply? - page 3.

guoyu78

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Quote from: kalawang on October 25, 2017, 09:24:04 PM

Quote from: ICOmonster on October 21, 2017, 11:00:05 AM

Hi i have a question, i hope someone could answer it
As of now, the circulating supply of Bitcoin is 16.6M
I was wondering what would happen if it reaches 21M?

Will bitcoin still work even without mining?
Or will bitcoin fall apart?

Based on my research in 2015 the total supply of bitcoin is 6-5 million? I dont think so but i know that if bitcoin got max supply i know that bitcoin is get increase to the highest price becuase if the supply is limited we expect the price is high.

People have different views about already mined bitcoin but no one is clear about real situation. I think when bitcoin come closer to end mining then the developers will plan for next of its new project that bitcoin might not end but I don’t think so that all the bitcoin will mine soon.

Most probably that developer enhanced the quantity of bitcoin in the system and by that time may be maximum would have been introduced bitcoin in their countries.

ss890

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Quote from: Reid on October 25, 2017, 10:32:45 PM

That is why it needs more value so that miners will still keep on working on it.

If the price of bitcoin is soaring high then every miners fee will be valuable too.

They can still pay for their bills and somehow they will still have some profit.

But this will occur for a long time and we might not be seeing it.

Yeah they say last coin will be mined in year 2141 which is far far away from current scenario. The year is calculated based on network difficulty and the total miners in place plus total number of hashing rate they are producing. It could happen that new miners with more advance tech might just come in the near future and that could increase the speed of mining and the period may reduce to unexpected number. So miners need not to worry until we advance off the chart.

Zorbak

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Quote from: ICOmonster on October 21, 2017, 11:00:05 AM

Hi i have a question, i hope someone could answer it
As of now, the circulating supply of Bitcoin is 16.6M
I was wondering what would happen if it reaches 21M?

Will bitcoin still work even without mining?
Or will bitcoin fall apart?

Mining will continue and the reward of finding blocks will be the transaction fees, as limited supply price should always increase so finding blocks for TX fees will be profitable and interesting for miners.

heisenberg0000

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Miners should be paid on a different stake basis. And I think by the time btc reaches the max limit. It will circulate around the market as a normal commodity since it has been fully used in all business transactions.

lombok

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maybe if bitcoin has reached the maximum, bitcoin will be stable in addition the bitcoin price will decrease as the number is growing as expected this time. of course this will take a long time to reach the maximum number (21M token)

Opquar

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It will produce an effect opposite of inflation called deflation. Demand can grow while supply can't, making its value larger and larger. We'll probably be dead by that time tho.

asebaby

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Quote from: ICOmonster on October 21, 2017, 11:00:05 AM

Hi i have a question, i hope someone could answer it
As of now, the circulating supply of Bitcoin is 16.6M
I was wondering what would happen if it reaches 21M?

Will bitcoin still work even without mining?
Or will bitcoin fall apart?

Many Individuals are thinking that Bitcoin will get to the top,if the bitcoin are not been mined,but that is not correct because as it stand 21million bitcoins have been created, but only 7 billion bitcoin are own worldwide,so what will make the difference if bicoin arenot mined

mondobitcoin

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Simple: nothing. The only thing that can happen is a grow on the price
I think that when all supply is reached, the price can reach like $20-30k
So need to wait and hold bitcoin Cheesy

proTECH77

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Quote from: ICOmonster on October 21, 2017, 11:00:05 AM

Hi i have a question, i hope someone could answer it
As of now, the circulating supply of Bitcoin is 16.6M
I was wondering what would happen if it reaches 21M?

Will bitcoin still work even without mining?
Or will bitcoin fall apart?

Bitcoin will surely still work when it reaches its max. It would then bring about a circular chain of movement as a result of the fact that there would be no more production of it. The value might increase as well as fee charges(base on assumption).

tamilbitcoin

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My guess is, the transaction fees will rise, even if it could have been low. Considering the same amount of bitcoin in circulation, a nominal fee would be good. It will encourage more transactions and more fee. Rather if they get greedy and hike the fee, their income will be the same, but as time goes the number of people using it may go down. In any industry the number of users is very important and keeping them in is very much essential.

Sendibere

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I read an article where there are things that happen when the bitcoins reach the max supply. It is said that Supply remaining in bitcoins is estimated at 21,000,000 BTC and when it is all mined. Bitcoins will be gone but I'm sure that the people involved in bitcoins will not allow it,

ashfer

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The price will be high which is economic to do mining and profit made from the transaction fees and there won't be any newly created coins.Some studies say that it will not hold small percent of inflation but i feel that the system itself will continue to generate as it is doing now or may be there is chance for new coins to show up or new btc will be created the once doing mining will get their payment in different ways a there wont be anymore blockchain rewards.They can get paid only by their fees so i think there is chance for fees to increase and transaction charges will go high and the value of btc aswell.I don't think such situation will show up in the near future.There is a common law for everything when the demand increase it is normal for the price to shoot up and hence the once holding too many coins will be willing to sell off to get profit and hence supply of coins can be solved.

darthmaul

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Quote from: ICOmonster on October 21, 2017, 11:00:05 AM

Hi i have a question, i hope someone could answer it
As of now, the circulating supply of Bitcoin is 16.6M
I was wondering what would happen if it reaches 21M?

Will bitcoin still work even without mining?
Or will bitcoin fall apart?

Mining won’t stop after total supply is in circulation. Mining is still required to confirm your transaction within different blocks in the same way as it is done today. So it’s not like mining just required to mine the coin but it’s more than that. It is also speculated that fees will increase in this period because miners will get their rewards or earnings from that way as they won’t be having reward from the pool directly. That could happen on prominent scale.

xianbits

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Quote from: Asmonist on October 25, 2017, 10:06:21 PM

Quote from: VitKoyn on October 21, 2017, 10:22:33 PM

Quote from: ICOmonster on October 21, 2017, 11:00:05 AM

Hi i have a question, i hope someone could answer it
As of now, the circulating supply of Bitcoin is 16.6M
I was wondering what would happen if it reaches 21M?

Will bitcoin still work even without mining?
Or will bitcoin fall apart?

I think when all of Bitcoin are in curculation it is possible that transaction fees will rise because of increase in the demand for transactions.
Without mining Bitcoin transactions won't work but mining all the Bitcoin supply doesn't mean bitcoin miners will stop mining, miners still can make profit from transaction fees but the issue is, is transaction fees enough for miners to make profit from it? But It is too early to think about it, some experts said that all Bitcoins will be mined in 2140.

Let's just relate this in the law of supply and demand. When the market price rises the supply of good rises and as it fall the supply falls. However, the demand rises when the price falls and it falls when the price rises. So, when bitcoin reaches the maximum supply meaning the supply falls and the market price is low and the demand is high. In that event many will demand to buy bitcoin. I think its just the norm because if they demand more then they have nothing to do but wait for its availability. Anyway, many had already using it. They must increase the supply. There could be a maximum supply but it should always be more than the demand.

I think you already have the idea but the way you have stated it made me confuse.
It should be put this way, at least in my own understanding of the said law. Since the maximum supply is considered to have been reached, it can then be considered a constant supply.
At a constant supply, the price rises when the demand also rises and the price falls when the demand falls. In case of bitcoin, I can generally say that more and more people are getting into this idea each day thereby making a constant increase in demand. So, to sum it up, when the max supply has reached, the price will continuously increase and people should consider it by now.

Reid

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That is why it needs more value so that miners will still keep on working on it.
If the price of bitcoin is soaring high then every miners fee will be valuable too.
They can still pay for their bills and somehow they will still have some profit.
But this will occur for a long time and we might not be seeing it.

q835197677

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If one day, the price of bitcoin should be a very exaggerated price figure. I'm looking forward to it, but it will take me decades to get there.

Pleione527

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If bitcoin will reach its maximum supply and it cannot sustain the increasing demand the best way to settle this issue is to increase the value of bitcoin we should not be worry because bitcoin will stii circulate in the market as long as the owners are active and the demand continue to grow. I am also sure that developers are anticipating this thing that's why as early as now they formulate solutions in limited supply of bitcoin.

n0ne

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Quote from: AmXProX on October 25, 2017, 10:20:47 PM

Quote from: ICOmonster on October 21, 2017, 11:00:05 AM

Hi i have a question, i hope someone could answer it
As of now, the circulating supply of Bitcoin is 16.6M
I was wondering what would happen if it reaches 21M?

Will bitcoin still work even without mining?
Or will bitcoin fall apart?

It will not cost the coin to fall apart but most probably expect higher transaction fees since the miners will just earn from the transactions.

But when that time comes which is 20 years from now imagine how many transactions will occur at a single time. the current rate might be enough to compensate the lost of mining because of the increase in the transactions.

Once the maximum supply is reached automatically the demand will be high leading to price increase. Along with the same the transaction fee will surely reach big as there won't be any more mining further takes place. The mined coins that're into circulation in different forms generate the growth.

AmXProX

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Quote from: ICOmonster on October 21, 2017, 11:00:05 AM

Hi i have a question, i hope someone could answer it
As of now, the circulating supply of Bitcoin is 16.6M
I was wondering what would happen if it reaches 21M?

Will bitcoin still work even without mining?
Or will bitcoin fall apart?

It will not cost the coin to fall apart but most probably expect higher transaction fees since the miners will just earn from the transactions.

But when that time comes which is 20 years from now imagine how many transactions will occur at a single time. the current rate might be enough to compensate the lost of mining because of the increase in the transactions.

Asmonist

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Quote from: VitKoyn on October 21, 2017, 10:22:33 PM

Quote from: ICOmonster on October 21, 2017, 11:00:05 AM

Hi i have a question, i hope someone could answer it
As of now, the circulating supply of Bitcoin is 16.6M
I was wondering what would happen if it reaches 21M?

Will bitcoin still work even without mining?
Or will bitcoin fall apart?

I think when all of Bitcoin are in curculation it is possible that transaction fees will rise because of increase in the demand for transactions.
Without mining Bitcoin transactions won't work but mining all the Bitcoin supply doesn't mean bitcoin miners will stop mining, miners still can make profit from transaction fees but the issue is, is transaction fees enough for miners to make profit from it? But It is too early to think about it, some experts said that all Bitcoins will be mined in 2140.

Let's just relate this in the law of supply and demand. When the market price rises the supply of good rises and as it fall the supply falls. However, the demand rises when the price falls and it falls when the price rises. So, when bitcoin reaches the maximum supply meaning the supply falls and the market price is low and the demand is high. In that event many will demand to buy bitcoin. I think its just the norm because if they demand more then they have nothing to do but wait for its availability. Anyway, many had already using it. They must increase the supply. There could be a maximum supply but it should always be more than the demand.

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