What will happen to Bitcoin year after 2140 ? - page 3.

virtualx

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LOTEO

Quote from: BilalHIMITE on June 02, 2015, 05:08:31 PM

I wonder what would happen to Bitcoin after the year 2140, while mining will end and the last block will be mined.
Are there will not remain Bitcoin ? Is the transaction will be possible ? or what ?
At least i will be dead Undecided

!!!!

I think in 2140 the double SHA-256 hashing is not so strong anymore because of incremental computer power, one of the core hashing algorithms in bitcoin. Other hashing algorithms such as MD4 and MD5 (created in 1991) are weak now. Satoshi said something like "It will work for some time" and I think he meant a few decades.

Error404

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Quote from: Amph on June 04, 2015, 03:38:10 AM

Quote from: TYT on June 03, 2015, 11:43:29 AM

Bitcoin could have been and gone in this timeframe. Something much better may also take over so bitcoin is far from safe or indestructible.

as long as its technology will be alive i don't see the problem in anything a better bitcoin, remember that no more bitcoin doesn't necessary mean that there will be no others option in the cryptoworld(so if bitcoin will die, than another "bitcoin will rise", in the end you can't kill crypto anymore

The one main problem is Hackers because they can hack some accounts that having a bitcoins but im sure that bitcoin hires best security experts for secure the accounts

Amph

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Quote from: TYT on June 03, 2015, 11:43:29 AM

Bitcoin could have been and gone in this timeframe. Something much better may also take over so bitcoin is far from safe or indestructible.

as long as its technology will be alive i don't see the problem in anything or in a better bitcoin, remember that no more bitcoin doesn't necessary mean that there will be no others option in the cryptoworld(so if bitcoin will die, than another "bitcoin will rise"), in the end you can't kill crypto anymore

Error404

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Quote from: TYT on June 03, 2015, 11:43:29 AM

Quote from: QuestionAuthority on June 02, 2015, 07:48:04 PM

Why? Are you planning on living 150 years?

This is what I was going to say. Why would anyone care seeing as we'll all be dead.

Quote from: Error404 on June 03, 2015, 11:33:39 AM

Bitcoin will continue and no one can stop it beacuse many people use bitcoin for many purposes and it can be a way to donate some charity or enviromental movement to help people or the mother earth but the one reason is it helps people to make a good life

Bitcoin could have been and gone in this timeframe. Something much better may also take over so bitcoin is far from safe or indestructible.

Yes , there is a possible some people are have a bad intension to steal money or hack it to make a money faster than replying other post but bitcoin can upgrade security and make bitcoin user safety's improve

TYT

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Quote from: QuestionAuthority on June 02, 2015, 07:48:04 PM

Why? Are you planning on living 150 years?

This is what I was going to say. Why would anyone care seeing as we'll all be dead.

Quote from: Error404 on June 03, 2015, 11:33:39 AM

Bitcoin will continue and no one can stop it beacuse many people use bitcoin for many purposes and it can be a way to donate some charity or enviromental movement to help people or the mother earth but the one reason is it helps people to make a good life

Bitcoin could have been and gone in this timeframe. Something much better may also take over so bitcoin is far from safe or indestructible.

Error404

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Quote from: QuestionAuthority on June 02, 2015, 07:48:04 PM

Why? Are you planning on living 150 years?

Bitcoin will continue and no one can stop it beacuse many people use bitcoin for many purposes and it can be a way to donate some charity or enviromental movement to help people or the mother earth but the one reason is it helps people to make a good life

AlgoSwan

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ancap

Quote from: S4VV4S on June 03, 2015, 10:12:47 AM

The ones who have the hashing power and can handle the running costs will be benefiting from the transaction fees.

I have a prediction to this analysis: The ones will be electrical/electronics engineers specialized in alternative energy technologies including micro-nuclear research.

thejaytiesto

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Anyone holding 1 BTC will be a billonaire by then, since by that time BTC will be the undisputed earth's standard unit of value, and not only earth, but whatever planets we've colonized too. The blockchain will be able to propagate in other planets as one.
We'll be all dead by then tho, so whatever. At least I hope we can retire early.

QuestionAuthority

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You lead and I'll watch you walk away.

Quote from: Beefcake on June 03, 2015, 10:13:46 AM

I think bitcoins will be worth $1,000,000,000 each but it wont matter. Because of inflation that will be the cost of a candy bar. There will be no more jobs because the robots will do everything for us. Everyone will be either a professional pan handler or work for a big wall street firm moving money around in circles to somehow generate a profit. The streets will look like Blade Runner without the replicants (because that is what the future SHOULD look like).

You should read this thread: https://bitcointalksearch.org/topic/bitcoins-dystopian-future-180798

Beefcake

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Beefcake!!!

I think bitcoins will be worth $1,000,000,000 each but it wont matter. Because of inflation that will be the cost of a candy bar. There will be no more jobs because the robots will do everything for us. Everyone will be either a professional pan handler or work for a big wall street firm moving money around in circles to somehow generate a profit. The streets will look like Blade Runner without the replicants (because that is what the future SHOULD look like).

S4VV4S

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Quote from: kingcolex on June 02, 2015, 05:22:00 PM

Quote from: BilalHIMITE on June 02, 2015, 05:15:04 PM

Quote from: kingcolex on June 02, 2015, 05:10:03 PM

It means the miners are paid pure by transaction fees, so there will still be rewards and still be miners.

i think that there will be a few Miners (possibly no miners) cause the reward per block is small

That is pure speculation, by the time this happens the blocks will be halved and halved and the rewards from fees won't be too much of a change. The idea is that Bitcoin will be worth much more then and if it isn't difficulty should adjust to keep someone interested.

Actually, Satoshi predicted that we will reach an equilibrium stage where there will be only a few miners left.
I think that by the time it reaches that phase it will be very profitable for those who are left.
I also think that by the time we get to that phase Bitcoin will have been more widely adopted.
The ones who have the hashing power and can handle the running costs will be benefiting from the transaction fees.

Think of VISA, AMEX and MasterCard.
They are handling millions/billions of transacions per day.

If someone is one of the few handling the Bitcoin transactions then they will be making a shit load of money.

RappelzReborn

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I don't like to think that much on what will happen on that year because no one of us will be alive by then so who cares really ...
Also Bitcoin will surely not stays that long , Government will screw it over with some new shit simillar to it but not decentralized so can see everything you do just like Paypal & Credit cards etc ... and voilà it's like Satoshi did nothing sadly Cry

bornil267645

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AltoCenter.com

Why look that far, why not just try to make an effort to make it last till 2040 at least. The way some of the users are behaving, bitcoin community won't last till 2040, let alone 2140.

ragi

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It wouldn't be called Bitcoin anymore. Maybe something build on top of bitcoin?

Amph

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Quote from: trademark on June 03, 2015, 12:31:33 AM

Who cares. We'll all be dead.

some of us the most rich could use the hybernation like Hal finney to stay here by that time

i think that by the 2140 we could transfer our bitcoin to people that are living in mars(mars one is going serious on this) they will start to raise infrastructure in 2025

i expect a good colony there by 2140, and radio wave technology/satellites that will connect earth to mars via internet

crazyivan

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DMD Diamond Making Money 4+ years! Join us!

Huge robots which enslaved the entire human race and aliens ll have to deal with that.

trademark

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Who cares. We'll all be dead.

alch1mista

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blockchain longa, vita brevis

Did you mean

Quote from: BilalHIMITE on June 02, 2015, 05:08:31 PM

I wonder what would happen to Bitcoin after the year 2014?

Lol, probably it will die, soon or later

ScreamnShout

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Probably it will be switched to proof of stake Wink

pooya87

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100 years ago we were using Abacus to do our calculations.

now we have computer that are mining bitcoin for us.

in 150 years in the future IF bitcoin is still around and being used, there will be mining equipment that have the ability to easily mine bitcoin with the increased difficulty and don't need that much money to run on.

besides as fees had changed before a couple of times, in the future it will be changes again.

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