Topic: What Will happen if all bitcoin already mined ? - page 2. (Read 14728 times)
There is only 21 million bitcoins available in the crypto market so after mining all the bitcoins due to economic factors such as demand and supply determines the value of the product which is bitcoins, after mining all the bitcoins the demand for bitcoins will shoots as more and more user's are entering the crypto market which shoots the price of bitcoins, a total of 16 million bitcoins have been mined so far only 5 million bitcoins are left but it will take time to reach that cap as every three to four years the difficulty of mining is also increasing but in the early stages of bitcoins, it was easy to mine bitcoins compared to the present day. The miner's might increase the transaction fees of bitcoins for them to sustain in the crypto market.
On my opinion, bitcoin nowadays is like a gold. We keep mining until time will come its hard to find. Since, I've been stated its like a gold, nowadays, as the time passes by the value of gold is increasing due to its mining process likewise bitcoin, the difficulty to find a bitcoin its value will high. So for sure, if the time will come almost bitcoin will mined its value is very, very high as what value we have today. Having a bitcoin today is much more advantage for our future.
There are only 21 million total bitcoins that can be mined, what will happen if all bitcoin is already mined?
once all 21 million have been mained, there will never be any new bitcoins (unless a change to the protocol is made to increase the supply).
Most coins have already been mined though. There are already like 16 million in existence. Now we need to make Bitcoin more spendable, because at the moment it still can't be used to buy most things.
By the time that all of the coins are mined, nothing will change because by that time 1 bitcoin would either cost super high or nothing. If the coins price is already high by the time all of the coin was mined then transaction fees can compensate mining profit.
There are only 21 million total bitcoins that can be mined, what will happen if all bitcoin is already mined?
There are only 21 million total bitcoins that can be mined, what will happen if all bitcoin is already mined?
The usual speculation, the one who has a lot of them will try to sell at a high price. Ie there will now be a market between users, holders of bitcoins, that's all.
Well, guess Satoshi placed the limit for a reason. By the way, the 21million Bitcoin limit time is far away... not something we should worry about now.
The transaction fees will have to pay for the network. However the technology will progress a lot by then so the solutions might not be possible to imagine today. We got time.
That will make bitcoin prices rise drastically. Because if bitcoin was dug it would not be born again. Imagine a population of 7 billion users with only 6 million bitcoins. Maybe a bitcoin will cost $100,000.
This is sure to happen. But we do not know in the run of how many more years the price will reach $100,000. But i am sure to this price
Bitcoin is like gold in many ways. Like gold, Bitcoin cannot simply be created arbitrarily. Gold must be mined out of the ground, and Bitcoin must be mined via digital means.
It may seem that the group of individuals most directly effected by the limit of the Bitcoin supply will be the Bitcoin miners themselves.
On one hand, there are detractors of the Bitcoin limitation who that say that miners will be forced away from the block rewards they receive for their work once the Bitcoin supply has reached 21 million in circulation. In this case, these miners may need to rely on transaction fees in order to maintain operations.
So when the last coin will be mined, Bitcoins will not go any where. Only people who used to mine will need to find new way to earn money)
It may seem that the group of individuals most directly effected by the limit of the Bitcoin supply will be the Bitcoin miners themselves.
On one hand, there are detractors of the Bitcoin limitation who that say that miners will be forced away from the block rewards they receive for their work once the Bitcoin supply has reached 21 million in circulation. In this case, these miners may need to rely on transaction fees in order to maintain operations.
So when the last coin will be mined, Bitcoins will not go any where. Only people who used to mine will need to find new way to earn money)
That will make bitcoin prices rise drastically. Because if bitcoin was dug it would not be born again. Imagine a population of 7 billion users with only 6 million bitcoins. Maybe a bitcoin will cost $100,000.
I think it will take number of years for that . And since Bitcoin will be limited only it's price should increase due to increase demand .
If all Bitcoin get mined , i think the value of Bitcoin gonna be more huge ! Totaly the opposite of what few people think that it's gonna disappear
The value will increase
I agree, less circulation (or in this case, max circulation reached) = higher value.
Looking at the fact that not all Cryptocurrencies are mineable; we sure can say that the complete mining of 21 million bitcoin doesn't mean it'll crash in price. I believe at that point in time, bitcoin worth would be far higher than when it can be mined [based on the principle of scarcity]
No, seriously, if Bitcoin is still being used, when all the bitcoin are mined, nothing will happen. Miners will still continue to secure the network and get paid with transaction fees. Nodes will still continue to record all the transactions on the blockchain. Users will still use.
If bitcoin can not be mined anymore, i guess the valuable of Bitcoin will raise insane. But can't raise the quality isn't a good way to a currency at all.
Bitcoin has a great future. Since now he is, what awaits him in the future? Something incredible
Well when all the bitcoin will be mined , you better have some cause from there the real race begins , the price will be over 20k$ in my opinion of course. The 21btc theory is so damn good but hard to achieve now , maybe a little imposible.
The value will definitely be far more than that when before all bitcoins are already mined.It is not something that should even be expected anytime soon, but when that time comes, we might just have to be looking at the transaction fees instead as a means of survivor for miners and not the other little incentives they keep getting from the mine presently.
I love the answers here. I learned a lot.
BTC is symbol of cryptocurrency and have a good PR strategy.
I think the creators of this idea will find new strategy of its development by that time.
well the people behind will do their best in order to continue not just because everything was already been mined means that things will crash or collapseI think the creators of this idea will find new strategy of its development by that time.
for sure before that time came more adoptions and uses are already been created.
Jump to: