Topic: Will Bitcoin collapse after 21 million coins are mined? (Read 414 times)
As of this time only 20% or 4.2 millions bitcoins remain to be mined. And i am fully confident that bitcoins should become more valuable over time after 21 millions have already been mined. There will be no parallel devaluation. The awarded transaction fees for bitcoin miners will keep the bitcoin system afloat.
the logic is that the more miners will always be added to the supply of bitcoin coins by itself as more and more are interested in the assets or something that is on offer will always increase with the increasing number of needs. if indeed it will happen as you say (depleted coins) will happen the name of inflation with a very high coin prices.
I don't think we need to worry about that right now.
Because if all of the bitcoins are mined, then I'd like to switch to the POS mechanism,
Because if all of the bitcoins are mined, then I'd like to switch to the POS mechanism,
Bitcoin has a limit to the number of tokens it will release. That number is hard-coded at 21 million. The estimated date of Bitcoin issuing its last coin is believed to be in the year 2140. No one can predict what will happen at that point, but miners will always earn some profit from transaction fees. Plus, users of the blockchain and the Bitcoins themselves will be incentivized to protect the network, because if mining stops, Bitcoins become vulnerable and so does the data that has been locked into the blockchain.
Today we r living in the year 2k18 and in this year there is so much fluctuationin the valuation of BTC and people are worring about the year 2140, I think this is the foolishness if someone is thinking about that far future when the BTC will stop being mined and there will be no BTC to be own. First of all, I think this condition is next to impossible and if the worst will happen then alsopeople will get profit, so don't worry and just enjoy your bitcoining.
Well, surely the bitcoin is being mined, we have nothing to worry about in the near future because it will still be relevant.
Bitcoin is free of all currency and it can exist for a long time on its own until the developers themselves change their minds about it.
No. Bitcoin, just like any other currency, needs circulation in order for it to have a stable value. After 21 million coins are mined, bitcoin should have a balanced abd stable value that needs to be maintained by circulation of the 21 million coins that are mined and are bought. Lastly, as a result, the value is expected to not rise or drop but be stable for a couple of months until it reaches a higher amount kf users.
For some reason it seems to me that only the government if it can stop bitcoin will suspend it forever. Not so simple as it would seem.
There is a possibility that it can. 21 million is the number of total supply in the world and it will last until hundreds of year to mine all those 21 million. That is lot of amount by the way, it is gettinv harder everyday. If the supply runs out, good luck.
Accurately, it is not 21 million, as you said it is the total supply of Bitcoin and there are millions now in circulation that means 21 will not be mined. 16 million is mined and only 5 million is remaining, there might be a lot of miners in the world but the mining process is getting harder and harder every year, we don't expect it to happen that quickly.
I think 120 years is enough time to find a solution to keep BTC alive even when all coins are mined 
But that is the future which most of us will certainly not be able to see and therefore is quite irrelevant what will happen then.You should focus more on the next 10-15 years because somewhere around year 2032 almost 99% of total BTC supply will be mined-and that 1% will remain for the next 100+ years.Therefore, this "problem" is actually much closer than most thinks,but also this means that at that time(2030) there will be very small amount of fresh mined coins on market,so if demand be significant-price will follow that for sure.
But that is the future which most of us will certainly not be able to see and therefore is quite irrelevant what will happen then.You should focus more on the next 10-15 years because somewhere around year 2032 almost 99% of total BTC supply will be mined-and that 1% will remain for the next 100+ years.Therefore, this "problem" is actually much closer than most thinks,but also this means that at that time(2030) there will be very small amount of fresh mined coins on market,so if demand be significant-price will follow that for sure.
I think that only we influence the fact that bitcoin will live our activity and our interaction with it will respond to us in the future.
Bitcoin has a limit to the number of tokens it will release. That number is hard-coded at 21 million. The estimated date of Bitcoin issuing its last coin is believed to be in the year 2140. No one can predict what will happen at that point, but miners will always earn some profit from transaction fees. Plus, users of the blockchain and the Bitcoins themselves will be incentivized to protect the network, because if mining stops, Bitcoins become vulnerable and so does the data that has been locked into the blockchain.
Another bitcoin hardfork will solve that issue. The possible thing to happen is that bitcoin mining will still continue and the payment for miners is the transaction fees.
Or. There will be additional 21 million bitcoin.
Well, surely the bitcoin is being mined, we have nothing to worry about in the near future because it will still be relevant.
Mining coins doesnot determine if the coin will survive or not, and remember that miners don't only benefits from generating now coin but miners also benefits more from all our transaction we carry out every seconds on the blockchain, generating the entire 21m bitcoin will not stop companies from still mining the coin, this means that bitcoin cannot and will not go anywhere even if all coins are mined.
Wouldn't all the coins being mined cause a surge in demand instead because people will know that there was no way to get any more bitcoins without buying? Which would just increase it's price and value?
Well it’s a long time, and a huge amount. It’s quite impossible to predict something of that distant range. Greatest thing about technology is it is always open to better technology to take place. For now, chill buddy.
For a currency to fail it either experences recession or if it explodes. Yet for now in order for bitcoins to work miners regulate and control transactions. In return they get new bitcoins. When its all mined that wouldn't simply work so either it will collapse or the system will change the bitcoin will be regulated and centralized and we will have another partner to control the transactions meanong that the whole structure and concept of BTC will have to change.
I believe until there someone will have developed an option to make it last more time, even today there are people already trying that, and new alt-coins being born from such discussions.
Demand for block space = miner income. Even with how LN operates (an off-chain application), it still depends on block space at the beginning and the end, because opening and closing channels require entities to pay an on-chain fee. Combine that with plenty of standard on-chain transactions, other tasks requiring block space, the miners very likely won't have anything to complain about if the price continues to go up. I wouldn't even be surprised to see miners scoop up at least a few BTC in miner income per block, which has already happened last year. I have seen 5BTC block fees go through due to the insane demand for block space. Sure, the hype of last year and an massive spam attack did their work too, but it can be seen as a sneak peak of what things will look like later on.
yes it can be.
but how if the develop supply the coin?
you know that bitcoin have name, popularity. im sure many people want bitcoin long live. but if no, i think the other crypto will replace bitcoin. but we dont know about thw future. just do right now,
but how if the develop supply the coin?
you know that bitcoin have name, popularity. im sure many people want bitcoin long live. but if no, i think the other crypto will replace bitcoin. but we dont know about thw future. just do right now,
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