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Topic: What will happen when BTC will get closer to 21M?! - page 2. (Read 426 times)

hero member
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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 Wink
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!
I don't think any new Change we will see than what we are seeing in the bitcoin . In these days the demand of the bitcoin getting high and supply is going down . But as the time will spent more and more then with that time demand will get like fiat currency in the local world . I means to say that price of the bitcoin will increase constantly and the transaction fee will play a big roll in that case when no mining will happen , frommthe Google source I found that after the stop of 21 M supply , the fee will be goes directly to miners for the transaction and no one system will work between the another system of bitcoin network , so in that time the person have bitcoin will grow his money value easily by doing nothing than hold in Wallet.
full member
Activity: 238
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If bitcoin will reach it maximum limit in supply the value will surely increase so that bitcoin will become available in the market and continue to be part of the circulation also if that happens a lot of alt coins can possibly increase in value and gets a high demand because people needs to divert their market. I don't if this will be a good thing about bitcoin but I think we are closer to the day that all bitcoin will be mine and distributed around the world.
full member
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it's a very high prediction for the current bitcoin, it is not possible in the near future the bitcoin will go up that far. I think bitcoin rises as high as that in 2050. if we meet at such a high bitcoin price, I think the poor are gone.
full member
Activity: 170
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I think when the miners collect all 21 million bitcoins, the price for them will start to grow very much. The owners of bitcoins will begin to dictate their terms for sale and it will be similar to an auction
newbie
Activity: 11
Merit: 0
The Bitcoin price will be very high as the supply of Bitcoin is limited and the ownership of 1BTC at that time will be very difficult.

Yes you are right, in my opinion the blockchain and decentralization will exist, but not all people will find attractive to use, only those ones who have to keep their identity. Will they be good or bad people that is other question Wink

Problem is that whole system relies on miners and if they don't find profit they will leave system, though history shows that catastrophic situations from films (like all machines will rise against humans) don't happen.
During the time ASIC miners will become cheaper according to Moor's law, which is great!
newbie
Activity: 11
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Totally people get crazy Cheesy Limit boundiries can push higher and higher no limit for BTC Cheesy

You are right Smiley anything created by human can be changed by human!  Wink
member
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The Bitcoin price will be very high as the supply of Bitcoin is limited and the ownership of 1BTC at that time will be very difficult.
member
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Totally people get crazy Cheesy Limit boundiries can push higher and higher no limit for BTC Cheesy
newbie
Activity: 11
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Yep of course it is too far, but speed of transactions getting slower and slower, right now there is no any fork for that.
Segwit2x isn't accepted by mostly of all exchanges so who knows what will happen with all this ecosystem.

then they will sell miners.

That's how deflation happens Smiley
All will start sell their hardware and price will go down for hardware, but no many people will buy them.
sr. member
Activity: 438
Merit: 266
Recently I was thinking what will happen after 21M limit reaches?!

This is very far future (2140), but I can try to predict.

The miners will be still needed but they will earn only transaction fees so most of them will move up to mining another PoW cryptocurrencies. If the miner is powerful enough for another crypto, then yes, they will mine it. If no cryptocurrencies will be that you can mine with this miner or miners will be too weak, then they will sell miners. Also the difficulty changes every 2016 blocks so remaining miners MAYBE can stay profitable. We can't predict that.
full member
Activity: 490
Merit: 102
When the entire supply of Bitcoin has been mined, the miners have to rely on the transaction fee as the only source of profit. So maybe at that time the transaction fee will be way higher than now because the miners have earn more than their expenses. But there might be technology which allow faster and fairer mining method, who knows Tongue
hero member
Activity: 938
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Did you see that ludicrous display last night?
This is why we have a search function on the forum.  So that you don't have to make a collection of outrageously stupid assumptions based on a lack of knowledge.
As far as the limit getting closer the mining starting to be slow
The difficulty is adjusted every 2016 blocks so that a block is still mined approximately every 10 minutes.  So the "speed" will always be approximately the same.
and profit is getting to be less.
If some miners leave, the difficulty adjusts so that mining would still be profitable for the people that remain.
I guess sooner or later a lot of miners will move to other cryptocurrencies like ETH and so
ETH is ASIC-resistant and uses a different mining algorithm.  They would have to buy new hardware.
the whole meaning of Bitcoin is anonymity
Read the whitepaper.
newbie
Activity: 11
Merit: 0
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 Wink
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!
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