Topic: What will happen when the last Bitcoin is mined ? (Read 357 times)
This cryptocurrency will not vanish until WWW exists. It has been calculated that in 2140, miners will get that very latest Bitcoin. After this event, when 21 million BTC will be mined, there can be no more new coins. However, this does not mean that the world of BTC will collapse overnight. In addition to hashing rewards, the cryptosystem also includes transaction fees, and they will grow.
~ and we know that the moment btc becomes very scarce, people would no longer panic sell, they will hoard their coins and then continue to quote very high rate for it which will gradually make it become so expensive, and as it becomes expensive, we will start migrating from bitcoin to satoshi, then maybe 1 usd would be equal to 1 satoshi, this is why those that predicted bitcoin at $1m must have seen.
If 1 USD equals to 1 satoshi, it's $100 million for 1 BTC, not $1m. But this will never happen imo. Once I calculated what the price of 1 Bitcoin would be if it replaced all the money in the world, and I came to around $4 million for 1 BTC, although this scenario will hardly unfold either. What can happen when Bitcoin becomes very scarce(or even any time today) is that it can become a trend among millionaires to have 1 Bitcoin in their possession. This one thing along can increase BTC price to the level of what amount of money can a millionaire spend on collectibles, but I think it's much less than $1m, although it can be around $100k. (Note that there are 36 million millionaires in the world already, and there will be only 21 million Bitcoins ever.)
Will the price increase because of rarity ?
Maybe, maybe not. It still really depends on the overall demand. Regardless if it's scarce or not, if there's little to no demand, the price still won't increase.
Hello,
In your opinion, which changes will occur in the Bitcoin Market once the last bitcoin is mined ?
Will the price increase because of rarity ?
Will fees skyrocket in order to pay for miners ?
Will the number of miners decrease, resulting in lower security ?
It would be on 2140 ( https://coincodex.com/article/2401/when-will-the-last-bitcoin-be-mined/ )In your opinion, which changes will occur in the Bitcoin Market once the last bitcoin is mined ?
Will the price increase because of rarity ?
Will fees skyrocket in order to pay for miners ?
Will the number of miners decrease, resulting in lower security ?
So it would still take a while so its not really that right for us to mind too much but answering your question when it comes to price, if theres a high demand into those years and the supply is already fixed then expect for its price to soar up.Miners fee? For sure they would require higher on pushing tx between users.
Hello,
In your opinion, which changes will occur in the Bitcoin Market once the last bitcoin is mined ?
Will the price increase because of rarity ?
Will fees skyrocket in order to pay for miners ?
Will the number of miners decrease, resulting in lower security ?
In your opinion, which changes will occur in the Bitcoin Market once the last bitcoin is mined ?
Will the price increase because of rarity ?
Will fees skyrocket in order to pay for miners ?
Will the number of miners decrease, resulting in lower security ?
the question is surely engaging and can pique someones interest but question might be a little too early for someone to provide an answer
that will solve the question all we can answer is speculation and no concrete answer will be provided since no one knows what will and might
happen. even the "experts" all they can do is speculate with this kind of question.
It'll take over a century to mine the final 0.9% or whatever. By 2032 over 99% will be mined. That makes it pretty academic overall. By that point there'll have had to have been a healthy fee market for decades for it to survive. If there isn't within 10-20 years it's not going to have a future. The final bit of mining will have ceremonial value only. It would be fun to read the news that day.
Let's all say hello to the future historians reading this. We spent enough to buy continents on Steam games back in the day.
Let's all say hello to the future historians reading this. We spent enough to buy continents on Steam games back in the day.
Hello,
In your opinion, which changes will occur in the Bitcoin Market once the last bitcoin is mined ?
Will the price increase because of rarity ?
Will fees skyrocket in order to pay for miners ?
Will the number of miners decrease, resulting in lower security ?
In your opinion, which changes will occur in the Bitcoin Market once the last bitcoin is mined ?
Will the price increase because of rarity ?
Will fees skyrocket in order to pay for miners ?
Will the number of miners decrease, resulting in lower security ?
This posting awesome , I agree with you, seems the miner will try quit mining .
they only paid little fee for sending bitcoin & worry 51% attack will happen
seems human being will using gold and silver as main currency , because bank was totally die
but 2140 very very long time to wait bitcoin long live currency
I think when all of the stock bitcoin already mined, there is no give a big impact as you mentioned above. It can be like gold that has the cheapest price but it can't be breaking then the highest price can be reached and so on. Not so easily say that if bitcoin already out of stocks then it will bull forever.
That would happen after a very long time so basically we don't know. Bitcoin would probably continue to circulate but there's also a possibility, new crypto will be made and would lead. There's a lot of possibility. And by the time bitcoin would reach the last bitcoin to be mined, the technology is already very advance so we really have no idea.
Then bitcoin will be move from one owner to another and hardly ever someone will buy all bitcoins
i think the point one and two is will happen if the last Bitcoin is already mined.
of course price of Bitcoin will grow so high because so hard to get it and maybe fee of BTC is expansive for miners.
but this is the main of Bitcoin system, when all Bitcoin is mined that the new ERA of cryptocurrency will begin.
of course price of Bitcoin will grow so high because so hard to get it and maybe fee of BTC is expansive for miners.
but this is the main of Bitcoin system, when all Bitcoin is mined that the new ERA of cryptocurrency will begin.
Hello,
In your opinion, which changes will occur in the Bitcoin Market once the last bitcoin is mined ?
Will the price increase because of rarity ?
Will fees skyrocket in order to pay for miners ?
Will the number of miners decrease, resulting in lower security ?
None of us are likely to live till it happens, and long-term predictions of the future as distant as this are generally very inaccurate. Bitcoin might not even live till that moment if quantum computers make this encryption unsafe. Or people might live in a post-apocalyptic world of some sort where barter is the main way of getting goods and services.In your opinion, which changes will occur in the Bitcoin Market once the last bitcoin is mined ?
Will the price increase because of rarity ?
Will fees skyrocket in order to pay for miners ?
Will the number of miners decrease, resulting in lower security ?
If society keeps going as it is now, I think it will lead to rapid transaction fee growth along with the price growth unless the scalability issue is somehow solved till then.
I would be surprised if computers and the internet as we know it are still around in 50 years time. You might get Bitcoin running on some legacy network used by the main exchanges, if they are still around.
~
Will fees skyrocket in order to pay for miners ?
Will fees skyrocket in order to pay for miners ?
It depends on how many transactions can fit in the block at the time, how much electricity will cost and how many miners will be present in the network (since the less miners left the easier to mine for the remaining ones). I think Tx fee can be determined from the following formula
(Tx fee) x (number of txs per block) x (Probability of mining a block in a month) - (monthly maintenance costs) = Expected Montrhly Profit from mining (EMP).
The EMP should be large enough to ensure that miners are interested in participating in the mining process.
I invented this formula today, and if it is wrong please correct me.
The last Bitcoin will be mined more than 100 years. It seems to me that this question should not worry you 
Although perhaps you are immortal.
I’m more interested in whether Bitcoin can defeat the fiat centralized empire.
Although perhaps you are immortal.I’m more interested in whether Bitcoin can defeat the fiat centralized empire.
I guess if the Bitcoin still holds its popularity the price will be increasing day by day when all of the holders patiently hold their bitcoins the price will skyrocket. This is the most popular speculation out there before LiIbra came into existence, now we won't know what does it bring after they mined all of the Bitcoins out there.
Like I said If it still holds its popularity then there's no need to worry about its extinction but if it is outshined by its contender obviously LIbra then All I can say It's All over. But remember right now there can't be a single Altcoins the can outrun the popularity of Bitcoins but we wouldn't know after the last Bitcoin is mined.
Like I said If it still holds its popularity then there's no need to worry about its extinction but if it is outshined by its contender obviously LIbra then All I can say It's All over. But remember right now there can't be a single Altcoins the can outrun the popularity of Bitcoins but we wouldn't know after the last Bitcoin is mined.
Bitcoin never gets ended as the hard currency never comes to an end.
In case this happens, then the price will rise because of the rarity of the bitcoin.
In case this happens, then the price will rise because of the rarity of the bitcoin.
The last bitcoin is expected to be mined in 2139. So our generation is not going to be bothered about the last bitcoin. Now please use a little Google search to know the possible scenarios. The internet is full with similar articles. Let me give you few links to read.
Link 1:
https://news.bitcoin.com/what-happens-bitcoin-miners-all-coins-mined/
Link 2:
https://www.investopedia.com/tech/what-happens-bitcoin-after-21-million-mined/
Now to your specific question, the price is expected to be increased because of its limited supply. Just like oil and gold, if the demand stays same and supply decreases, the price is expected to be increased.
The fees is also expected to rise because miners will have to rely solely on mining fees. Many will find this process reward unaffordable and choose to quit. However, this particular area is diecy and no one will surely tell you what's gonna happen. All we can do is speculate!
Link 1:
https://news.bitcoin.com/what-happens-bitcoin-miners-all-coins-mined/
Link 2:
https://www.investopedia.com/tech/what-happens-bitcoin-after-21-million-mined/
Now to your specific question, the price is expected to be increased because of its limited supply. Just like oil and gold, if the demand stays same and supply decreases, the price is expected to be increased.
The fees is also expected to rise because miners will have to rely solely on mining fees. Many will find this process reward unaffordable and choose to quit. However, this particular area is diecy and no one will surely tell you what's gonna happen. All we can do is speculate!
Obviously, noone will mine Bitcoin again.
Why are we asking this? Did you know that this will be a long time from now? Miners will be sticking for long for the fees, and I am seeing an expensive price from that fees because that will be the only way miners will ever stick to Bitcoin. Though the miners now will obviously be dead at that time because that is still a long time from now.
Why are we asking this? Did you know that this will be a long time from now? Miners will be sticking for long for the fees, and I am seeing an expensive price from that fees because that will be the only way miners will ever stick to Bitcoin. Though the miners now will obviously be dead at that time because that is still a long time from now.
For me the price of Bitcoin would surely increase and the fee's would also sky rocket just to maintain the miners after all it is their only income .
If the fee drops down then surely the miners wouldn't want to continue since they wouldn't get a profit .
Electricity and maintenance for their farm is also expensive so why would they continue to operate if the money that they get from mining is low and would only go to maintenance and electric bills?
If the fee drops down then surely the miners wouldn't want to continue since they wouldn't get a profit .
Electricity and maintenance for their farm is also expensive so why would they continue to operate if the money that they get from mining is low and would only go to maintenance and electric bills?
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