nobody not minings dollars, euro and etc and it is still good enough
Topic: What will happen if 21 million bitcoins are already mined? (Read 406 times)
like ehm nothing?
nobody not minings dollars, euro and etc and it is still good enough
nobody not minings dollars, euro and etc and it is still good enough
Can somebody fully explain to me what will happen if the limit of 21million bitcoins are all mined by miners? Does bitcoin die? Or volatility stop?
This question has been answered endless times. Use the "search" function of this forum.
This has been answered dozens of times before.
Nothing will happen. Miners will keep getting paid from the transaction fees of each block and Bitcoin will continue operating as usual.
It will happen sometime in 2140, and everyone will be dead by then.
Nothing will happen. Miners will keep getting paid from the transaction fees of each block and Bitcoin will continue operating as usual.
It will happen sometime in 2140, and everyone will be dead by then.
Why would they cap bitcoin to 21 million if it would die if that number is reached? You guessed it right though, bitcoin will most likely be non-volatile or at least less volatile after we reached 21 million. That will take alot of years more from now though. We definitely won't reach 21 million soon as more and more bitcoins are mined, the less bitcoins miners are making. What we currently don't know is that, will mining still be profitable after we reached the cap? Also, I've read a post in Reddit in the past, saying that we would reach 99% of the total bitcoin cap at around 2032. Not sure if that prediction is accurate though, time will tell.And yes, like the others said, miners will not be able to mine new bitcoins again, as all their income will be solely be from transaction fees we're paying.
Can somebody fully explain to me what will happen if the limit of 21million bitcoins are all mined by miners? Does bitcoin die? Or volatility stop?
After all are mined, the miners will have to live with what they earn from transaction fees. That's all. (Edit: they get now too the block reward + the fees, after 21M the block reward will be 0 and I expect the fees to rise.)
Bitcoin should not die, because (especially after the changes in the right direction) the number of transactions should rise and the price of Bitcoin too (so even if they'd earn less bitcoin than now, they'll earn more $). At least this is the theory and the expectations.
The volatility is based on what the speculators do on the market. I expect the volatility get under control (maybe!) when Bitcoin will get properly regulated. And that's not related at all with the 21M magical number.
You and I will be long dead, as will your kids probably but our great great grandkids will see a more stable bitcoin. In terms of what happens to miners, they still get their transaction fees so it'll still be a way to generate income in the future even without bitcoin rewards. The rewards will be small by then, but bitcoins will be worth so much that it'll still be worth mining of course.
Can somebody fully explain to me what will happen if the limit of 21million bitcoins are all mined by miners? Does bitcoin die? Or volatility stop?
Jump to: