Topic: Will Bitcoin collapse after 21 million coins are mined? - page 3. (Read 424 times)
I think it will not be possible in a short span of time. Mining only provides a very small value. A year will only give you a small amount which cannot even deduct 1 btc. Mining isn't that gallant that it can give enough to those who looks for free bitcoins.
Bitcoin based on the experts will not collapsed even though it have already reached its maximum or already fully mined, besides it will took more than 100 years before it happened and when that moment comes for sure bitcoin is already have a big name in over the world.
dunoo , but my opinion bitcoin price will get higher
i have experience about some coin that stop their faucet , and burn their coin to get max supply , 4 month after , the coin rising up from 0,2 to 20-40 $
and i think it will same with bitcoin
i have experience about some coin that stop their faucet , and burn their coin to get max supply , 4 month after , the coin rising up from 0,2 to 20-40 $
and i think it will same with bitcoin
You asked if Bitcoin will collapse upon reaching 21m coins, you knew that it will happen in 2140, then said no one can predict what will happen.
Why the hell you still ask for other's opinion if you already answered your question.
Why the hell you still ask for other's opinion if you already answered your question.
Quote
"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.
You said that no one can predict what will happen next but your assumptions will really make Bitcoin collapse?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.
Do you really need to worry about things that will happen after your death ? 2140 is really very far and bitcoins might not be able to survive by then. If you are still interested in the answer, if bitcoins survived till the last coin was mined, it will be because it becomes a commonly used payment option. And in that case, I see the demand only increasing more in future. Since the supply will reduce as no more mining is done, prices will move up faster.
Nothing will be changed.
Now only 12.5 bitcoins are generated in every block. Compare it when the number of generated coins was 50. This number has dropped by 37.5. Is the mining stopped?
Now only 12.5 bitcoins are generated in every block. Compare it when the number of generated coins was 50. This number has dropped by 37.5. Is the mining stopped?
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.
Thats a long way to go. And even if the miners stop mining Bitcoin and it becomes a threat to the safety of Bitcoin network then the Bitcoin devs can always shift to a different algorithm like Proof of Stake or whatever new innovations are made.
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.
I'am agree with your statement , until this day I can't understand if 21 million BTC has been create from miner.I think cost for send BTC will be expensive , because hasrate its very high.
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.
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.
Jump to: