Topic: ¿What will happen when there is no more coins? - page 2. (Read 2134 times)
I don't think all the Bitcoins will ever be mined. It will slow down the closer it gets to the 21 million.
You can have one of two scenarios for this to happen :
1. All coins are mined, and nobody is selling their coins. < The estimated date is 2140 based on the block reward halving frequency of four years. >
2. Nobody is selling any coins now, and all new coins are being hoarded by the miners. < This will also not happen, because mining for bitcoins is expensive and the money to pay for those expenses has to come from the bitcoins being mined. >
So, in conclusion : There will be bitcoins in circulation until 2140 and long after that time, when we will not be around. This is to say, if Bitcoin are not replaced or something bad happened for it to collapse.
1. All coins are mined, and nobody is selling their coins. < The estimated date is 2140 based on the block reward halving frequency of four years. >
2. Nobody is selling any coins now, and all new coins are being hoarded by the miners. < This will also not happen, because mining for bitcoins is expensive and the money to pay for those expenses has to come from the bitcoins being mined. >
So, in conclusion : There will be bitcoins in circulation until 2140 and long after that time, when we will not be around. This is to say, if Bitcoin are not replaced or something bad happened for it to collapse.
most of the answers here were correct, but since nobody gave a complete explanation, i'll try to explain this in a newbie-friendly, but complete (albeit, simplified) , way 
When you send bitcoins from address A to address B, you generate a transaction, in which you basically say: "i'm the owner of address A, and i want to use incoming transaction (input) W and incoming transaction X (input) to create output Y to address B and output Z to a change address of me (address C). The difference between the inputs and the outputs is the fee i leave for the miner". You sign this piece of text using your private key, and you send the text to the network.
In the network, it only exists in the memory pool of the nodes... When they reboot, or when they clean up their memory, your transaction is gone... Byebye
In order to actually remember your transaction, it has to be included in the decentral database. This database exists out of datablocks of 1Mb. A miner collects transactions, does a lot of complex calculations with them and the header of the previous datablock, and if he wins the complex calculation, he gets to mine the next block containing all kinds of transactions he had in his memory. At this moment the miner gets the block reward (currently 12.5 BTC) plus the sum of the fees most transactions included.
Now, at this moment, there usually are a lot more transactions in the memory of the nodes than will fit in a 1 Mb block. So when the miner selects 1 Mb of transactions, it is wise of him to select the transactions that have the most fee per byte of transaction data (since he'll only be able to fit 1 Mb of transactions in his block). So, the transactions with the highest fee per byte usually gets included in the block.
To come back to your question: once the blocks have halved a couple more times, the block reward gets close to 0... At this point, the fees should be enough reward for the miner to keep on mining. If the fees are insufficient, some miners will stop mining, leaving more blocks to be found for the leftover miners, increasing their earning potential...
So, when the block reward is ~0, i either expect the mining equipment to be so efficient, and the BTC price so high, it is still profitable for the miners to keep mining for the fees, or i expect to see a drastic drop in hashrate (and difficulty), so the couple hardcore miners can make a profit from the fees because they mine so many blocks...
When you send bitcoins from address A to address B, you generate a transaction, in which you basically say: "i'm the owner of address A, and i want to use incoming transaction (input) W and incoming transaction X (input) to create output Y to address B and output Z to a change address of me (address C). The difference between the inputs and the outputs is the fee i leave for the miner". You sign this piece of text using your private key, and you send the text to the network.
In the network, it only exists in the memory pool of the nodes... When they reboot, or when they clean up their memory, your transaction is gone... Byebye
In order to actually remember your transaction, it has to be included in the decentral database. This database exists out of datablocks of 1Mb. A miner collects transactions, does a lot of complex calculations with them and the header of the previous datablock, and if he wins the complex calculation, he gets to mine the next block containing all kinds of transactions he had in his memory. At this moment the miner gets the block reward (currently 12.5 BTC) plus the sum of the fees most transactions included.
Now, at this moment, there usually are a lot more transactions in the memory of the nodes than will fit in a 1 Mb block. So when the miner selects 1 Mb of transactions, it is wise of him to select the transactions that have the most fee per byte of transaction data (since he'll only be able to fit 1 Mb of transactions in his block). So, the transactions with the highest fee per byte usually gets included in the block.
To come back to your question: once the blocks have halved a couple more times, the block reward gets close to 0... At this point, the fees should be enough reward for the miner to keep on mining. If the fees are insufficient, some miners will stop mining, leaving more blocks to be found for the leftover miners, increasing their earning potential...
So, when the block reward is ~0, i either expect the mining equipment to be so efficient, and the BTC price so high, it is still profitable for the miners to keep mining for the fees, or i expect to see a drastic drop in hashrate (and difficulty), so the couple hardcore miners can make a profit from the fees because they mine so many blocks...
No need to worry. You'll be dead when this happens. It will happen at around 2140.
But if you're really curious, bitcoin will be going on as it is right now. Blocks will still be mined, except there will be no bitcoin in each block's coinbase.
But if you're really curious, bitcoin will be going on as it is right now. Blocks will still be mined, except there will be no bitcoin in each block's coinbase.
Why you not complete your thread, if you wanna ask us, than you should clarify your view? only sites reference is not enough.
Secondly, i want to explain you, first of all, the time is not coming when the coins end, and if you are talking about only Bitcoin, so remember that we all know about it that one day bitcoin will be ended but now it is good going and i always with Bitcoin.
Secondly, i want to explain you, first of all, the time is not coming when the coins end, and if you are talking about only Bitcoin, so remember that we all know about it that one day bitcoin will be ended but now it is good going and i always with Bitcoin.
Who Regulates transaction fees miner get for a new block?
I mean...
I've seen in Bitcoin monitor that sometimes transaction fees are much more than $$$ given for a new block found.
Where all that money goes?
I mean...
I've seen in Bitcoin monitor that sometimes transaction fees are much more than $$$ given for a new block found.
Where all that money goes?
They don't regulated by anyone. When miners mines a block, they get the fee of all the transactions included in that block plus the block subsidy. So the money goes to the miner.
There's a longer version of the transaction fee explanation here.
Who Regulates transaction fees miner get for a new block?
I mean...
I've seen in Bitcoin monitor that sometimes transaction fees are much more than $$$ given for a new block found.
Where all that money goes?
I mean...
I've seen in Bitcoin monitor that sometimes transaction fees are much more than $$$ given for a new block found.
Where all that money goes?
Miners will keep mining for Tx fee.
You'll need to clarify your question if you want a more satisfying answer. The best answer I can give you is we'd be dead. And miners will continue mining for transaction fees.
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