What will happen when BTC hits max number of coins - page 2.

chixka000

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Quote from: highperspective on September 09, 2017, 03:45:10 PM

The number of bitcoins is fixed and estimated to hit the taget in 2140. What do you think will happen then?

I think this one happens already a lot of times. What I have noticed is that they will be an halving or a splitting of coins to half of its value. So we could go back to normal process again and this keeps on repeating and repeating

DjTremor

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Quote from: Mike Mayor on September 09, 2017, 05:27:17 PM

Quote from: highperspective on September 09, 2017, 03:45:10 PM

The number of bitcoins is fixed and estimated to hit the taget in 2140. What do you think will happen then?

Bitcoin will crash and the world will end.

Did you even look through the forum before starting this topic ? This question has been asked so many times with multiple variables of it. The next thing you will ask is what will monwra do ? Moners will still be needed for transactions. Miner is just a word rhey used because you mine new bitcoins. But miners will still be needed to process transactions. Miners don't just mine new blocks.

It's normal they can ask, we answer it. The forum is for helping everyone, the community.

Bitcoin will undergo huge price inflation after that. And it will be hard to mine it with the current existing equipments.

Ucy

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Fees will be source of Reward for miners for mining Bitcoin. The question now is how sustainable will this method be? Nobody knows for sure.

Skieleton

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Quote from: highperspective on September 09, 2017, 03:45:10 PM

The number of bitcoins is fixed and estimated to hit the taget in 2140. What do you think will happen then?

It will depend on the popularity of BTC and prices. If the prediction is checked and the BTC reaches the $ 10,000 bid, the chance of survival is long.

CryptoClown

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Quote from: salihno71 on September 09, 2017, 06:06:56 PM

You should not worry about that as you (and all of us) will be long gone by 2140.

I agree

. I can only predict a situation few years from now but not after a hundred years so let's not really worry about it. Everything is still unsure about crypto currencies even after 10 years as we don't know what will happen then. There will be factors that will surely affect coins in the future so let's just pray hard that everything will be a great advantage for us.

salihno71

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Quote from: highperspective on September 09, 2017, 03:45:10 PM

The number of bitcoins is fixed and estimated to hit the taget in 2140. What do you think will happen then?

You should not worry about that as you (and all of us) will be long gone by 2140.

FiiNALiZE

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Quote from: batang_bitcoin on September 09, 2017, 05:37:04 PM

This question has been asked and posted for xxxx times here in forum. Nothing will happen as the transactions will keep on going. Try to learn about basic supply and demand and you will know what will be the changes if bitcoin hits all 21 Million mined coins. We are all going to be happy when we are getting close to the limits.

Miners will get paid once the maximum amount of Bitcoins is distributed. People will want to only hold the coin instead of just spending them around because the miners won’t be wanting to waste money on Electricity if they aren’t a large competitor in the mining area. There will be a bunch of hashes going around so Solo Mining would be really nothing to even plan on because the people that Solo Mine won’t make that much money from helping the network.
Unless that person has a large amount of threads that could be used for calculations then that person will have the chance.

batang_bitcoin

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This question has been asked and posted for xxxx times here in forum. Nothing will happen as the transactions will keep on going. Try to learn about basic supply and demand and you will know what will be the changes if bitcoin hits all 21 Million mined coins. We are all going to be happy when we are getting close to the limits.

Mike Mayor

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Quote from: highperspective on September 09, 2017, 03:45:10 PM

The number of bitcoins is fixed and estimated to hit the taget in 2140. What do you think will happen then?

Bitcoin will crash and the world will end.

Did you even look through the forum before starting this topic ? This question has been asked so many times with multiple variables of it. The next thing you will ask is what will monwra do ? Moners will still be needed for transactions. Miner is just a word rhey used because you mine new bitcoins. But miners will still be needed to process transactions. Miners don't just mine new blocks.

Oceat

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I don't know if bitcoin will be still alive at that time even us could be dead at that time. Bitcoin will still the same and nothing will gonna happen if the total maximum of bitcoin is being mined. The miners will only be rewarded for the block reward and the bitcoin price will be very high at that time it's just like we will be using satoshi's price range at that time.

Celsiuss

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I don't think anything special will happen. Also I don't think we'll ever mine all the bitcoins. As we mine more and more, the difficulty will increase exponentially. There will be less and fewer coins to mine, while the difficulty increases, so in the end it's not worth it to mine all of them as it will require a humungous amount of processing power.

darkangel11

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Don't let others control your BTC -> self custody

Quote from: Ultegra134 on September 09, 2017, 04:31:38 PM

We won't be alive to see that, as time passes by, the difficulty increases, requiring more time for each block to be mined, slowing down the process of creating/mining new coins into circulation.

Miners will be profited by the transaction fees as a mining reward. We have a long way till then though.

That's it. Since it would require many times more hash power and time to mine a single coin, the reward would have to be kept high, so that there will still be someone mining. This means that as more coins are mined and difficulty rises the price will have to keep going up. I guess when there's like 100k coins left to be mined 1 BTC will be worth at least 50k USD and you'll have to keep mining for a month with a warehouse full of newest rigs to get a single coin Grin

Ultegra134

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We won't be alive to see that, as time passes by, the difficulty increases, requiring more time for each block to be mined, slowing down the process of creating/mining new coins into circulation.

Miners will be profited by the transaction fees as a mining reward. We have a long way till then though.

craZyLovE0916

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I predict that when Bitcoin hits the maximum number of coins we will see a huge drop in miners, because there will be no more rewards, and therefore less incentive to mine Bitcoin (naturally). With that said, miner fees will be higher, but there will be Lightning Network therefore it won't be that much, certainly not enough to keep all miners mining, so transaction times might take longer and fees will go up until there is a solution to that, or maybe there never will, but at that point everyone would be using Bitcoin so there would be nothing we could do about it anyways and people will just need to accept it and move on. Hope this makes sense. By the way, the last Bitcoin will not be mined until ~2040, therefore we still have plenty of time to figure this out.

Emoclaw

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Nothing will happen, everything will continue as normal.
Miners will get paid from transaction fees only and we'll only be using the Bitcoins that will be in circulation at that time.

highperspective

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The number of bitcoins is fixed and estimated to hit the taget in 2140. What do you think will happen then?

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