When will bitcoin mining run out? | Bitcointalksearch.org

Rexler

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The Standard Protocol - Solving Inflation

Quote from: andryhari on April 03, 2018, 06:12:42 AM

if bitcoin mining runs out whether the cryptocurrency world will also end???

No, The Cryptocurrency is way beyond Bitcoin's mining so It won't just "end". Bitcoin inflation rate (aka mining) will run for several years more. The exact timeline isn't known because of the occasion block halving event that occurs from time to time. We would see the true value surface when bitcoin no longer has any inflation.

Sirait

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Quote from: andryhari on April 03, 2018, 06:12:42 AM

if bitcoin mining runs out whether the cryptocurrency world will also end???

I'm not sure because there are many more coins than Bitcoin waiting to be mine
such as Ethereum, Waves, Ripple, Litecoin and other

so do not be afraid cryptocurrency will end just because Bitcoin runs out in mine..

_yoshi

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It will be interesting what will happen before the coins runs out. Because the coins who were created while mining getting every year less. So sometime you will just can generate one bitcoin perblock er less. And when you look at the acutall mining farms who runnings hardware for millions of dollars and the electricity who cost so much. So when bitcoin price will not go up massively in future, it will be interesting to see how the whole mining community will crash.

marabanda

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Most likely, mining will be relevant for at least a few more years, until its complexity grows to the level when it is not profitable to engage in mining. However, those who wanted to do this, I think a couple more years they have in stock.

akemi1487

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I think you are right. After mining 21 million btc, mining will be continued because of blockchain. To interact with the blocks, mining is mandatory.

South Park

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I am terrible at Fantasy Football!!!

Quote from: andryhari on April 03, 2018, 06:12:42 AM

if bitcoin mining runs out whether the cryptocurrency world will also end???

Bitcoin mining is not going to end even when all the bitcoin is mined, miners will still be able to earn money with the fees they get for each transaction, most miners right now are still able to sustain themselves with just a block reward but in the future they'll have to change the way they sustain themselves by using the fees, we do not know if they will be profitable at that point but that is something that you should not worry about that much.

Pan Troglodytes

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There already have been two halvings and mining didn't suffer a decrease of interest during any of them. As each halving to come will have a lesser impact on mining than the previous one, I don't expect any major impact of the last halving (last=when the last bitcoin block is mined) on mining either. Transaction fee will smoothly replace new block reward for miners and that's it.

hase0278

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Quote from: andryhari on April 03, 2018, 06:56:42 AM

ok, so the other cryptocurrency is probably the best path if bitcoin runs out, is not that so sir ??

At least in our perspective now the best path for a miner when that time comes is to move on into other major altcoins but it will take a long time from now before that happens. With that being said, mining bitcoin might still be profitable by that time, making bitcoin mining not ran out but instead they might continue their operations ordinarily. The only difference is that they will greatly rely on user's fees.

nazaididuan1

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According to the calculation, the bitcoins were dug up in 2140 years!

When the BTC is mined, the traditional mining incentive will disappear, and the rewards of transaction fees will become more important!

andryhari

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Quote from: VitKoyn on April 03, 2018, 06:37:37 AM

Quote from: andryhari on April 03, 2018, 06:12:42 AM

if bitcoin mining runs out whether the cryptocurrency world will also end???

If the time comes that all Bitcoins are mined, there will be a chance that mining it will not be profitable anymore because miners will have to rely on transaction fees which is not enough to make profit, considering that cryptocurrency mining are too expensive and needs a lot of resources to perform, so there will be a chance that miners will switch to another cryptocurrency that is worth it to mine. So it is not possible that the whole cryptocurrency market will get affected because at that time maybe Bitcoin will be replaced by another cryptocurrency or if core developers can find a way that can make it profitable for miners so that they won't switch to another coin then it will be great. But no need to worry because it is too early to think about this.

ok, so the other cryptocurrency is probably the best path if bitcoin runs out, is not that so sir ??

andryhari

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Quote from: Xester on April 03, 2018, 06:16:13 AM

Quote from: andryhari on April 03, 2018, 06:12:42 AM

if bitcoin mining runs out whether the cryptocurrency world will also end???

Bitcoin mining will run out when the total number of bitcoin which is 21 million is finished. But it does not mean that the cryptoworld will end after all the bitcoins are mined. If all bitcoins are mined then the miners will still mine not for the mineable bitcoins but for the bitcoin transactions and they will earn from confirmation fee. When all bitcoins are mined then bitcoin will be very valuable and may hit a huge value.

thank you for your explanation sir

solopay669

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I think yes! with such chastyma falls this end can happen very quickly!

VitKoyn

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Quote from: andryhari on April 03, 2018, 06:12:42 AM

if bitcoin mining runs out whether the cryptocurrency world will also end???

If the time comes that all Bitcoins are mined, there will be a chance that mining it will not be profitable anymore because miners will have to rely on transaction fees which is not enough to make profit, considering that cryptocurrency mining are too expensive and needs a lot of resources to perform, so there will be a chance that miners will switch to another cryptocurrency that is worth it to mine. So it is not possible that the whole cryptocurrency market will get affected because at that time maybe Bitcoin will be replaced by another cryptocurrency or if core developers can find a way that can make it profitable for miners so that they won't switch to another coin then it will be great. But no need to worry because it is too early to think about this.

raidarksword

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Yes, if the total of mined bitcoin reached to 21 million. Even after that happened, mining will always be there to stay because it is essential to the blockchain technology wherein they help to confirm transactions on sending and receiving made the users.

Xester

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Quote from: andryhari on April 03, 2018, 06:12:42 AM

if bitcoin mining runs out whether the cryptocurrency world will also end???

Bitcoin mining will run out when the total number of bitcoin which is 21 million is finished. But it does not mean that the cryptoworld will end after all the bitcoins are mined. If all bitcoins are mined then the miners will still mine not for the mineable bitcoins but for the bitcoin transactions and they will earn from confirmation fee. When all bitcoins are mined then bitcoin will be very valuable and may hit a huge value.

andryhari

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if bitcoin mining runs out whether the cryptocurrency world will also end???

Topic: When will bitcoin mining run out? (Read 191 times)