What Will happen if all bitcoin already mined ? - page 7.

Qunenin

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Quote from: khiholangkang on July 16, 2017, 02:34:37 AM

There are only 21 million total bitcoins that can be mined, what will happen if all bitcoin is already mined?

Not that much is going to change really. That point in time is quite a bit off. But the fact is that people will still be trading back and forth and that means that they're still going to have to be mining to take care of those transactions. There won't be any large block Rewards. That's going to be the biggest difference, and that might actually make some of the larger Farms back off and maybe difficulty will come down. I wouldn't expect this for a quite a long time.

pluMmet

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Nothing special. Bitcoin will become more and more rare so the price will go even higher. This will happen after year 2110 so you will be dead anyway Cheesy

mostkey

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Quote from: ac1905 on August 28, 2017, 06:36:43 PM

In theory, all the coins will have been mined at 21million.

I've always wondered though how the BTC ecosystem will survive with a fixed number because people are losing their bitcoins daily (misplaced, lost storage,etc.) Think of it like a set number of gold

This theory may indeed be true, well from here we can see the rise in bitcoin prices, swmakin thinning the remaining bitcoin will make the price higher, and it will be profitable for anyone who can hold the most bitcoin at the end of the mine, and of course those who can play The sale price of bitcoin, and this is just speculation I do not know what will happen after the mine ends

NotFuzzyWarm

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Um, as I recall the last BTC reward coin will be mined in about 150 years so rather a moot point... Long before then most mining income will be from the Tx fees and after that last coin is produced it will be 100% from Tx fees.

Hell, very recently there was a block that paid a total of 18.4BTC or 32% over the default 12.5.

ac1905

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In theory, all the coins will have been mined at 21million.

I've always wondered though how the BTC ecosystem will survive with a fixed number because people are losing their bitcoins daily (misplaced, lost storage,etc.) Think of it like a set number of gold

Euphrates

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People will start to mining new coins. Every thing will end but money never end.

damnek

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probably price will stop growing up

rovchris

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Quote from: khiholangkang on July 16, 2017, 02:34:37 AM

There are only 21 million total bitcoins that can be mined, what will happen if all bitcoin is already mined?

after 21 million coins exist the fees will drive the miners to keep on mining. Its the same as it is now. except since that btc will be scarcer than what it will be like in the future

yugyug

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when all bitcoin is mined ,mining seems to be dead and the only way to earn is thru transaction fees. mining is more profitable than transaction fees and the mining pools holds the larger mining equipment and contributed a lot on a blockchain- the more the miner, the bigger the blockchain and it is expected to have a larger share for a bitcoin transaction fees. the only problem if the mining pool realized that transaction fee is not profitable anymore and impractical to sustain the mining equipment, mining pool would stop operation and the blockchain network disrupted and a very long delay of bitcoin transaction would occur for a missing blockchain would cause a delay. then bitcoin would collapse for their service is not competent anymore. so the probable solution is to implement an off-chain bitcoin transaction so whenever blockchain is interrupted the off-chain comes to the rescue.

Triple7Fox

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Of course, Bitcoin prices will reach over $ 100,000 right after the extraction of 21 million Bitcoins and Bitcoin investment at that time will be very difficult because we will not have the money to buy Bitcoin.

wantjokull

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Quote from: NaRkO on July 19, 2017, 04:10:30 AM

Monero will replace Bitcoin Tongue

Coming sooN 1XMR = $1000

Oh come on that's not gonna happen at all. Monero is also limited in its emission rate and the supply is limited based on that. There are many other altcoins which are in line to explode after bitcoin such as ethereum, Ripple and waves. Monero is good and know that personally too but that's only for long term investments. Monero is not that viable because other currencies are moving their heads up to jump in the market which are better than it. Mostly ethereum would be another choice. I don't want to say this but bcc and BCH are new devils too.

sumangs

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Bitcoin will just circulate in the market, mining hardware will be useless, the peak difficulty had been reached. Bitcoins are also very expensive if ever all of it are mined already. Also, 21 million of bitcoin is a big number since not all people could not afford 1 bitcoin once its price is very high.

Ucy

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Been made in a way that miners will earn rewards from fees, i think. By the way, the 21million Bitcoin limit time is far away... not something we should worry about now.

Wurx

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Quote from: veleten on July 16, 2017, 06:55:31 AM

Quote from: khiholangkang on July 16, 2017, 02:34:37 AM

There are only 21 million total bitcoins that can be mined, what will happen if all bitcoin is already mined?

nothing will happen,there can only be 21 million bitcoins mined,after the last one is mined
there will be business as usual,only the miners will be solving blocks to recieve transactions fees,not the block rewards
very soon,after 3-4 block reward halvings,this will be the main source of income for them anyways

so keeping a miner connected to the network will be a good idea?

carlisle1

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Quote from: cantika on August 26, 2017, 11:38:19 PM

Nothing, yeah no, seriously. nothing will happen when all the Bitcoins are mined. The price of Bitcoin is determined by current demand to transfer value and expected future demand. The only way this will change is if a constant stable amount of value were continuously being transferred through the system, which would require significant real use. As yet real usage is pretty insignifcant and most transactions are probably speculative. Anyway, we can’t predict the future.

we cant mate, but if we are positive thinkers we will believed that after everything was mined the real purpose of bitcoin will be served as a currency to lessen
transaction period, bitcoin will continue just like real fiat where circulation are the big factors of growth.

cantika

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Nothing, yeah no, seriously. nothing will happen when all the Bitcoins are mined. The price of Bitcoin is determined by current demand to transfer value and expected future demand. The only way this will change is if a constant stable amount of value were continuously being transferred through the system, which would require significant real use. As yet real usage is pretty insignifcant and most transactions are probably speculative. Anyway, we can’t predict the future.

richmcrich

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If all the bitcoins are already mined, then I think that’s when the bitcoin price is going to really boom since there is no bitcoin to mine, there would be scarcity of the coins in the market, and so people who held their coins are free to hike the price and even sell at black market rate

xJuturna

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Well we have many years until all 21mil bitcoins are mined. I'd like to sit here and give you a somewhat descriptive explanation that was well thought out but the answer here is pretty simple. If all bitcoins are mined, then there's no more bitcoins to mine. All mining operations will switch/transfer over to some other sort of blockchain. Pretty simple one to work out there...

marvykkio

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After 21 million bitcoins have been deployed by the bitcoin blackchain, the only thing left to do is mine transactions. Miners at that point will make money off of transaction fees.

Farma

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I just focus on price. Because when all the bitcoins have been mine, the bitcoin will become scarce and limited, and make the price higher, but it all depends on the bitcoin function at that time. If bitcoin is still used, then the price will be higher, but vice versa.

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