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Topic: What will happen to Bitcoin year after 2140 ? - page 4. (Read 3477 times)

hero member
Activity: 742
Merit: 500
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
legendary
Activity: 2506
Merit: 1030
Twitter @realmicroguy
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.
legendary
Activity: 1232
Merit: 1000
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.
sr. member
Activity: 322
Merit: 250
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?
legendary
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
Why? Are you planning on living 150 years?
legendary
Activity: 3906
Merit: 1373
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?

Smiley
hero member
Activity: 672
Merit: 503
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.
staff
Activity: 3458
Merit: 6793
Just writing some code
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.
legendary
Activity: 1946
Merit: 1007
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
hero member
Activity: 854
Merit: 1000
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
sr. member
Activity: 254
Merit: 1258
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.
legendary
Activity: 2786
Merit: 1031
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.
full member
Activity: 159
Merit: 100
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
hero member
Activity: 882
Merit: 1000
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
sr. member
Activity: 254
Merit: 1258
It means the miners are paid pure by transaction fees, so there will still be rewards and still be miners.
full member
Activity: 159
Merit: 100
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 Undecided !!!!
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