What will happen after 21 million bitcoin have been mined?

Hamphser

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Quote from: NelfiNovita on October 05, 2021, 01:14:47 PM

there will be some very horrendous events in the future if 21 million bitcoins have been mined. When all the bitcoin supply has been mined, bitcoins will become scarce and will eventually result in very high price increases.
to reach the maximum supply of bitcoin will take a very long time, some experts say that bitcoin will end mined in 2140, it seems we who are alive today will not witness the events of the last bitcoin being mined.

We wont know on what would happen in next 120+ years to come which i dont really stress out myself on minding on how miners would make out profits if overall supply had been mined.

For sure they would really still be making money out of fees and speaking on what are the things would happen if all supply been mined? Which means that bitcoin did still able to survive for

100 years which presumably that it is been adopted to survive that for long which i couldnt able to picture out its actual value for that time.

so98nn

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Beautiful explanations by few of the guys here. I really loved the first reply on the thread which explained everything from top to bottom. So many facts are cleared today about the bitcoin. I just wish that whoever takes over the crypto after hundred years will have another infrastructure with upgrades in the mining operations or I’m also thinking that proof of work might just work in completely different way by that time. One thing is for sure that if crypto world sees dropped bitcoin numbers then gradually the prices will rise too. Even the guy who held bitcoin since 2009 would not be around by next 80-90 years. So many bitcoins will be lost by those means. So fundamentally these things can’t be judged.

NelfiNovita

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there will be some very horrendous events in the future if 21 million bitcoins have been mined. When all the bitcoin supply has been mined, bitcoins will become scarce and will eventually result in very high price increases.
to reach the maximum supply of bitcoin will take a very long time, some experts say that bitcoin will end mined in 2140, it seems we who are alive today will not witness the events of the last bitcoin being mined.

Wind_FURY

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Quote from: BlackHatCoiner on October 04, 2021, 08:08:48 AM

Quote from: Wind_FURY on October 04, 2021, 07:18:47 AM

A hard fork that would increase the coin supply.

There's no reason to ever increase the coin supply. Not-even-one. The system works currently with this circulating supply and any change in it would be consensus-ly irrational.

As I said before, there'll never be a user who'll support this because it'll instantly reduce their wealth power. One may fork the code and increase the supply; no one will follow other than those who aren't using Bitcoin and want to have profit.

Under the current situation, no, but fee revenue for the miners is currently going low, and might keep going lower. For long-term security, and the system's sustainability, block rewards + fee revenue must be high. Developers can't control fee revenues per block, but they can propose for an extension of the block reward.

Ngewex Yuk

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Quote from: osasshem on October 04, 2021, 08:48:53 PM

If all 21 million bitcoin's be mined, the miners will remain on the reward of transaction fee. The price of Bitcoin will go very high and the miners will solely depend on every transaction made.
What if a hard-fork is made, will it extend the total supply of Bitcoin in somewhat manner or it has nothing really to do with the Bitcoin blockchain, cause this is being the next thing that is being expected or which has been done like the BCH which was one done because of the rapid increase in the price of Bitcoin.
Well, I don't really know the technicalities of the hard-fork on Bitcoin, but I do know that Bitcoin will be very expensive as the holders will keep hold on it, and demand will increase, so will the transaction fee increase alongside.

The price of bitcoin will continue to rise even though mining is still active, if 21 million has been used up in mining then the price will skyrocket and get out of control, this is a passion for us to continue to hold bitcoin and make it a long-term investment because with 1 btc we store in cold wallet then we have the opportunity to become rich people.

osasshem

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If all 21 million bitcoin's be mined, the miners will remain on the reward of transaction fee. The price of Bitcoin will go very high and the miners will solely depend on every transaction made.
What if a hard-fork is made, will it extend the total supply of Bitcoin in somewhat manner or it has nothing really to do with the Bitcoin blockchain, cause this is being the next thing that is being expected or which has been done like the BCH which was one done because of the rapid increase in the price of Bitcoin.
Well, I don't really know the technicalities of the hard-fork on Bitcoin, but I do know that Bitcoin will be very expensive as the holders will keep hold on it, and demand will increase, so will the transaction fee increase alongside.

BaeSuzy

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Once all 21 million coins have been mined, miners will no longer be incentivised by being rewarded with Bitcoin for every block mined. It is likely that once all Bitcoins have been mined, miners will rely on transaction fees.

DannyHamilton

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Quote from: taufik123 on October 04, 2021, 06:31:29 PM

Bitcoin will be depleted in the mines

Depleted in the mines?

Quote from: taufik123 on October 04, 2021, 06:31:29 PM

there is another 120 range to reach it.

There is a 120 range? ?

Quote from: taufik123 on October 04, 2021, 06:31:29 PM

the impact if bitcoins are mined . . . is that the block size will continue to grow,

Mining bitcoins makes blocks grow? ? ?

Quote from: taufik123 on October 04, 2021, 06:31:29 PM

in this case users will get cheaper transaction fees.

Why will they get cheaper transaction fees? ? ? ?

Huh

Nonsense. Just more signature ad nonsense.

taufik123

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Bitcoin will be depleted in the mines in 2140 and there is another 120-year range to reach it. the impact if bitcoins are mined for the crypto market and investment is that the block size will continue to grow, in this case users will get cheaper transaction fees. However, this condition will make it difficult for miners because the BTC reward when it is mined is no longer there and only relies on Transaction fees. this will also make Bitcoin more scarce, because all bitcoins have been mined successfully, an increase in bitcoin prices will certainly occur.

wxa7115

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Quote from: Issa56 on September 30, 2021, 01:37:43 PM

- what happens after 21 million bitcoins have been mined?

After the whole supply of bitcoin has been mined nothing else will happen, that will just mean that we reached out the end of the subsidy the miners were given for securing the network.

Quote from: Issa56 on September 30, 2021, 01:37:43 PM

- What will miners do after the total of 21 million bitcoins have been mined?

That will depend on what the miners decide to do at the time, by the time we reach that date the reward would have decreased so much already that most likely they would only think of it as a small bonus instead of their main form to maintain their operations.

Quote from: Issa56 on September 30, 2021, 01:37:43 PM

- Will the total supply be increased because some bitcoin holders have died and others have lost their private keys?

The supply of bitcoin will never increase and taking away the coins of those that lost them is not an option either.

dunfida

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Quote from: Issa56 on September 30, 2021, 01:37:43 PM

My question is;
- what happens after 21 million bitcoins have been mined?
- What will miners do after the total of 21 million bitcoins have been mined?
- Will the total supply be increased because some bitcoin holders have died and others have lost their private keys?
Pls your suggestion will be highly appropriate and I believe will also help other members.

-Total coins wont be in complete numbers but 2140 is something a very far years for us to presume on what would happen.
-Miners would live through fees as always specially if the price of Bitcoin soar up on those years.
-No, they would lost up in void if those coins wont be accessed by anybody.21M supply is fixed and never be changed.

Oasisman

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Quote from: Issa56 on September 30, 2021, 01:37:43 PM

My question is;
- what happens after 21 million bitcoins have been mined?
- What will miners do after the total of 21 million bitcoins have been mined?
- Will the total supply be increased because some bitcoin holders have died and others have lost their private keys?
Pls your suggestion will be highly appropriate and I believe will also help other members.

- Nobody knows what will happen to Bitcoin after 100 years lol, but one thing is for sure, the exact number of Bitcoin in circulation will never be 21m.
- Miners will most probably continue mining, without them transactions cannot reach your wallet.
- No, the 21m total supply cannot be changed (that's the least we know in this current timeline) but maybe in the future when Bitcoin is nearing the maximum mined supply, someone could change Bitcoin's protocol to extend the maximum supply to continue incentivize the miners with the block rewards.

franky1

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Quote from: BlackHatCoiner on October 04, 2021, 11:11:58 AM

Along with Danny, I would also like to thank you for spitting this meaningless message. By the way, the last block isn't planned to be mined in 2140. You're talking about the last satoshi.

but plans are being made to alter things soon to affect that pre-acknowledged date. so while playing head in sand thinking 'oh dont worry let our grandad kids figure it out. and fix the problems made by their ancestors.'

we should actually be discussing the plans that are in progress NOW that will change things NOW which affect the future.

EG the plans to keep the blocksize stifled to only sub 3k tx which affects fee amounts thus miners income.
EG breaking the binary rule of actual sharable units that effect everything

but hey. those that want to play "dont worry let generation MMCXL sort it out". maybe you not get involved in any discussion and unsubscribe from the forum if you dont want to get involved in any discussion about the current and future progress of bitcoin

and no. dont reply that altnet routers hubs will 'pay' miners. as thats just advertising another network that wants bitcoin to fail

BlackHatCoiner

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Quote from: zanezane on October 04, 2021, 10:11:51 AM

To be honest, I don't know and I don't think that nobody exactly knows what's going to happen. Remember that the last block would be mined in 2140 I think and by that time, no one in this forum is alive to witness that so I think it's not a worry for us.

Along with Danny, I would also like to thank you for spitting this meaningless message. By the way, the last block isn't planned to be mined in 2140. You're talking about the last satoshi.

zanezane

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To be honest, I don't know and I don't think that nobody exactly knows what's going to happen. Remember that the last block would be mined in 2140 I think and by that time, no one in this forum is alive to witness that so I think it's not a worry for us.

DannyHamilton

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Quote from: haasanjui on October 04, 2021, 08:55:50 AM

Then we face a huge bitcoin market dump. Bitcoin will loose its real value and then it will not be dream of investors to trade. Because after a huge amount of bitcoin will be mined then everyone has bitcoin and than it will loose its value.

Thank you for reminding me why I almost always click "ignore" on any user that has a signature ad before I ever waste any time reading any of the nonsense they post.

haasanjui

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Then we face a huge bitcoin market dump. Bitcoin will loose its real value and then it will not be dream of investors to trade. Because after a huge amount of bitcoin will be mined then everyone has bitcoin and than it will loose its value.

stompix

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So everyone is focused on the technicalities and less on the most obvious thing that might occur
We'll stop seeing topics about what will happen when all the coins are mined!!!

This will be probably a bigger achievement than bitcoin surviving for the next century as I'm starting to think it's becoming easier for people to solve a block than use the search function, I'm really wondering, would it be possible to reach 21 million topics about this before all the coins are mined?

franky1

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Quote from: BlackHatCoiner on October 04, 2021, 08:08:48 AM

Quote from: Wind_FURY on October 04, 2021, 07:18:47 AM

A hard fork that would increase the coin supply.

There's no reason to ever increase the coin supply. Not-even-one. The system works currently with this circulating supply and any change in it would be consensus-ly irrational.

there is already alot of circle jerking in a certain group about increasing the supply but hiding such under a silly thing called millsat

at the moment 6.25btc is represented in binary as:
100101010000001011111001000000
which is actually 625000000 units of measure. thats the real hard rule for new coin production
(there is no such thing as btc at binary or consensus rule, nor held on the blockchain or in set in raw tx data)

the certain group want to make it 12 decimal bitcoin IE 6250000000000 units. but then shift the divider to still be perceived at GUI (user interface) level as 6.25btc

but at binary level it would then be:
1011010111100110001000001111010010000000000
allowing for 12 more 'halvings' meaning 48 more years of divide the units of measure before it cant divide no more

but essentially it just means pretending there are still 21mill 'bitcoin' even though there are 1000x more units of sharable value. and also breaking the rules of the binary limits and also the amount of halvings and such

all so that this certain group can destroy bitcoins trust of certain features never getting broke just to make bitcoin compatible with other altnets that should themselves change to fit bitcoin not make bitcoin fit them

Lucius

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@YOSHIE, I would expect some shitposter to do what you did, but as a Legendary member aren't you able to read a few posts in this thread but you've literally posted the same links as me a few posts above Huh

https://bitcointalksearch.org/topic/m.58096206

Topic: What will happen after 21 million bitcoin have been mined? (Read 358 times)