Topic: WHAT HAPPENS WHEN THE LAST BITCOIN IS MINED? - page 2. (Read 2166 times)
Mining will be done and all will be buying and selling BTC... ehm we will be only with out mining that is all
Okay, since miners get a reward (bitcoin) for mining and help support the block chain, what will happen when the last bitcoin is mined? What incentive is there to mine bitcoin and thus support the block chain? Won\’t bitcoin crash at that point?
No, miners will be rewarded entirely from transaction fees which would be much higher per block due to bigger blocks (this was Satoshi's vision).The price will also be EXPONENTIALLY higher than it is today, which means the effect of losing the block reward will be countered. This is already the case with every block reward halving, where the price is at least double when the block reward halves than it was at the previous halving.
This has been answered numerous times before, please search next time before making a new thread.
Okay, since miners get a reward (bitcoin) for mining and help support the block chain, what will happen when the last bitcoin is mined? What incentive is there to mine bitcoin and thus support the block chain? Won\’t bitcoin crash at that point?
they will still earn fees of transaction,
but yeah reward would be less,
it's like for a fork before it happend difficult to predict what will be the consequences.
we will see when the last one will be mined what miner will choose to do.
Okay, since miners get a reward (bitcoin) for mining and help support the block chain, what will happen when the last bitcoin is mined? What incentive is there to mine bitcoin and thus support the block chain? Won\’t bitcoin crash at that point?
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