What will happen to Bitcoin year after 2140 ? - page 4.

dollarneed

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all we know that bitcoin is deflation from time to time Cheesy

and of course if all of the bitcoin is distributed completly so that its price gonna be stable and increase over time,so all you have to do save your 1 bitcoin,print your identifier ,key and passwrd keep it safe and give it for your child or even for your grandchild its an awsome heritage Cheesy

MicroGuy

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Twitter @realmicroguy

Quote from: NorrisK on June 02, 2015, 04:35:11 PM

Nothing to worry about imo, if it is mass adopted, transaction fees are enough. If not, it is still possible to fork easily. We should be fine Wink

I think we'll see lots of forks over the years, including tweaks to the inflation rules and adjustments to the supply cap. It's basic development of the coin.

pitham1

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Quote from: BilalHIMITE on June 02, 2015, 04:08:31 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 ?

The block reward will stop; it definitely won't be the last block.
Long before 2140, when the block reward trickles down to Satoshis, you will have your answer.
Transaction fees will fuel the network.

jeannemadrigal2

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Quote from: QuestionAuthority on June 02, 2015, 06:48:04 PM

Why? Are you planning on living 150 years?

Wouldn't that be nice darling? Personally I think that if it is still around (and I think it will be) it will be commonly used and the number of transactions will justify mining. Of course you may not have as many centers and as much power (relative to the technology they will have) pointed towards the task. Who know what the future will bring?

QuestionAuthority

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You lead and I'll watch you walk away.

Why? Are you planning on living 150 years?

BADecker

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There is no way to even guess. We can't even guess that modern-like civilizaion will even be around. Consider all the natural disasters and the wars that could happen now that we are so much more technologically advanced. One little slip of a nuke button, and WWIII destroys us all.

In addition, we are all so used to being alive, that some distant future year seems to be something that we will partake of. If science fails to give us a longer life on general, average person scale, why even worry?

neurotypical

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Im hoping by then, the block size limit is totally solved and Bitcoin is able to perform the entire earth's electronic transaction methods combined per second, becoming the top electronic payment method.
Mining (or transaction processing to be precise) will not even be PoW by then, I presume.

achow101

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Just writing some code

Quote from: kingcolex on June 02, 2015, 04:22:00 PM

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.

There should hopefully be more in fees by that point because hopefully Bitcoin will be more popular and perhaps gone mainstream. If there are enough transactions happening, then the transaction fees will make up for the Bitcoins that would have been mined in a block before the maximum.

NorrisK

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Nothing to worry about imo, if it is mass adopted, transaction fees are enough. If not, it is still possible to fork easily. We should be fine Wink

ticoti

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

Quote from: kingcolex on June 02, 2015, 04:10:03 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

As everything,it will adjust with time

Or maybe bitcoin is so valuable and used that it is worth to mine Grin

kingcolex

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

Quote from: kingcolex on June 02, 2015, 04:10:03 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.

pedrog

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Some other method of securing the network will be developed and mining as is today will not be required, probably.

Actually I believe this may happen much sooner than 2140 because mining may just become not profitable enough and the network will become vulnerable if another method is not implemented.

BilalHIMITE

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Quote from: kingcolex on June 02, 2015, 04:10:03 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

JohnnyBTCSeed

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Maybe by then Bitcoin will be merge mined with Ixcoin. Shocked

Ixcoin is the first copy of Bitcoin, and minted its last coin 8-9 months ago Wink

kingcolex

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

BilalHIMITE

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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

!!!!

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