Hi Guys!
Recently I was thinking what will happen after 21M limit reaches?!
Whole bitcoin decentralization relies on miners, who compute for our transactions and so, but they should have their profit in that, cause nobody won't work for free
As far as the limit getting closer the mining starting to be slow and profit is getting to be less.
I guess sooner or later a lot of miners will move to other cryptocurrencies like ETH and so, even if some non-profit organization take care about mining process the whole meaning of the decentralization will disappear.
I think there is no Bitcoin bubble in that meaning like was for dot.com (though for other currencies there is bubble IMHO:)), because the whole meaning of Bitcoin is anonymity and this is very important thing for humans in the our era, which means that even if Bitcoin reaches to the 21M there won't be significant deflation, but my concern is that as far that number getting closer as mining will become less profitable and miners will drop this useful and great process!
Hope I am wrong, because Bitcoin is great project!
2140, the projected year that the whole bitcoin supply will be mined. As of now, it does not a big problem because aroung 16 million of bitcoins are circulating in our economy and every 4 years there is a difficulty in mining every blocks of bitcoin.
If time will come and all of bitcoins were circulated in our economy, it is possible that miners will move to altcoins but they must change also their hardwares because bitcoin mining processor is different from others. And maybe, miners will just add a transaction fees if ever it will happe. Anyway, that is the problem of the 22nd century people.
