What Happens when tere's no more BTC to mine?

[Anarkos 20]

I have a serious question to all of you guys. I wnat to understand if you guys are aware of what is going to happen once all bitcoins have been mined. ABout 18 million coins have already been mined but mining will continue for more 120 year. So do you guys know what is going to happen when the last bitcoin is mined?

[Laboni 755]

Bitcoin's rapid development is achieved through blockchain technology. We can make a lot of profit if the price goes up because it is a stable currency. It is very unlikely that anything will happen after Tier no longer has BTC.

[rekter 8129]

On 4/29/2020 at 3:40 AM, Anarkos said:

I have a serious question to all of you guys. I wnat to understand if you guys are aware of what is going to happen once all bitcoins have been mined. ABout 18 million coins have already been mined but mining will continue for more 120 year. So do you guys know what is going to happen when the last bitcoin is mined?

It's really hard to say how much the Bitcoin code has been changed by then, either they will readjust the supply or find another way to secure the chain. My guess that one solution would be to add minimun needed for the supply and keep on halving to infinity.

[guatazoo 7150]

On 4/29/2020 at 3:40 AM, Anarkos said:

I have a serious question to all of you guys. I wnat to understand if you guys are aware of what is going to happen once all bitcoins have been mined. ABout 18 million coins have already been mined but mining will continue for more 120 year. So do you guys know what is going to happen when the last bitcoin is mined?

If all bitcoin will be mined, there will be no many miners, because miners are mostly aiming on mine those bitcoins which are not mined yet, but there will remain few miners who will be use to confirm our transactions.

[jacker 1095]

When bitcoin is no longer mined, then the value of bitcoin becomes more expensive, it is much more valuable, the demand increases every day and those who own it will certainly be rich. This is sooner or later because bitcoin has a volume limit.

[Trader21 1199]

It is really good to continue 120 years BTC mined, we will not see that BTC mined will be finished. 🙂 But in my opinion there is really nothing to worry about us. 

[Rickso 768]

On 4/29/2020 at 2:40 AM, Anarkos said:

I have a serious question to all of you guys. I wnat to understand if you guys are aware of what is going to happen once all bitcoins have been mined. ABout 18 million coins have already been mined but mining will continue for more 120 year. So do you guys know what is going to happen when the last bitcoin is mined?

when all bitcoins are mined, the miners will start increasing the network fees because the will no longer receive bitcoin from the blockchain. i'll give you an example..

 

now miners take the block reward (that now it is 12.5, and soon it will be 6.25) and all the fees that we pay for the transactions.

 

when there will be no more bitcoin to mine then they will just take the fees that we pay for the transactions.

[magd 5231]

When all Bitcoin currencies will be extracted, the Bitcoin market will turn into a trading and investment market, then the only price controller will be the ratio of supply and demand, but mining will move to other currencies that are not extracted, such as Ethereum and Dogecoin.

[guatazoo 7150]

On 4/29/2020 at 5:41 AM, Badman001 said:

when there's is not any Bitcoin for mining purpose then price of Bitcoin is increased day by day because it's demand increased in market .

this is surely happen in future because there is limited amount of Bitcoin for mining purpose .

For surely the demands of bitcoin will be very high, because everyone will know that there will never be extra bitcoin in totally supply, so the price must be increased too much.

[BitcryptoHan 2557]

The bitcoin supply is the still the little factor that makes its price to be in low price that people still think it is high. When all bitcoin is mined, expect over $1 million per one bitcoin. Even the 1 satoshi of bitcoin will have a high value. 

[bitcoinb 1359]

On 4/29/2020 at 2:40 AM, Anarkos said:

but mining will continue for more 120 year. So do you guys know what is going to happen when the last bitcoin is mined?

@Anarkos About the 120 years, it's only for Bitcoin, not for Altcoins. In 120 years, maybe we will not use cryptocurrencies anymore, maybe all humans will be dead.... We don't know how ill be the world in 12 years...

[Anarkos 20]

On 4/29/2020 at 1:40 AM, Anarkos said:

I have a serious question to all of you guys. I wnat to understand if you guys are aware of what is going to happen once all bitcoins have been mined. ABout 18 million coins have already been mined but mining will continue for more 120 year. So do you guys know what is going to happen when the last bitcoin is mined?

Ok, so I'm leaving my answer to you guys. Once the last bitcoin is mined which will be around 2040, if the network still opperates with PoW, mining will still be done or the network will come to a Halt. Miners will still get paid with the fees, and mining will still be profitable, because if it is still alive in 2021 it will have to have millions of transactions per second. However, we just need two more halvings to know what will happen with bitcoin. It will most probably have to migrate to a different protocol other than PoW

Edited May 1, 2020 by Anarkos

[BitcryptoHan 2557]

On 4/29/2020 at 1:40 AM, Anarkos said:

but mining will continue for more 120 year.

So far bitcoin is not dead for over one million years, mining will also continue because miners are the one competing transactions and updating the ledger, only generating new bitcoin into circulations will end by 2140.

[bliznec 22267]

All bitcoins cannot be mined, and this is definitely so, because the mined bitcoin, again, some part is sold to cover taxes. It takes time for all the bitcoins mined to be mined.

[CryptoMaxim 3829]

It is difficult to answer this question. But without miners now the network can not exist and after the production of the last block will probably increase the Commission for transfers or will need to find an alternative to the miners.

[koussai999 1986]

It can be likened to gold and precious jewelry
I think that if mining of all the digital currencies is completed, new numerical coins for mining and old currencies will be created in the event that the demand for them increases and there is no longer new mining for them, their value will increase a lot

[BTC Future 3946]

On 4/29/2020 at 3:40 AM, Anarkos said:

 So do you guys know what is going to happen when the last bitcoin is mined?

The Satoshi original plan was that Bitcoin would be actually adopted so wide as Visa and Mastercard are. The plan was that Bitcoin would be used by millions of people making transactions daily and using Bitcoin for online and in-store purchases. The small fees involved would be more than enough to cover the miners costs and create much profit for them to keep their business and hardware running. Although there are many (even in the Bitcoin community) that believe that Bitcoin is unable to scale this much due to it's architecture, and even if certain changes are made (as the block size proposal) it will still won't reach Visa and Mastercard in speed. For this reason it seems that fees might be higher during later years, if the network keeps running as it is now.

[Honny143 13612]

You want 120 years before prediction bro its not possible, but in my opinion when all bitcoins mining complete  then bitcoin miners Swift in other coin to mine, and bitcoin prices goes in moon only rich peoples buy bitcoins, and trading and investment continue.

[Brand1 1336]

We cannot know what will happen in the future, because the termination period of the cryptocurrencies will be very long and until that time we will not be alive, but it is possible that we will see a new currency that will replace the Bitcoin currency after its expiration or some things will be modified within the currency and will continue to operate normally and until that time I am sure that the currency rate will be very high

[Crypto123 0]

When the last bitcoin block is mined there will be no more rewards for the miners and therefore all they will get is through the transaction fees that they confirm and if these fees are low then the miners may not stay in their work and thus the bitcoin network will collapse, or some Whales buy more mining equipment and controls the network and becomes centralized. Whales own thousands of BTC and thus will not allow Bitcoin to fail.

[Calvinpriva 17296]

I think when there will be no bitcoin for mining, many investors will quit and make other business. It will be hard for many buyers to keep buying bitcoin because it will be over, but i believe this will not happen.

[CryptoLover21 0]

Nothing will happen to mine because you can there are a lot of alternative coin like ethereum, litecoin. If the bitcoins are finished then the demand of the bitcoin will be so high with respective to the price. So, no worries you can mine other good coins like ethereum.

[Zaino34 0]

This will need a lot of time to happen and if the amount of bitcoin to be mined ends, the miners will stop working and their work will be limited only to confirming the transactions that we do and perhaps the bitcoin price will increase due to the increased demand for it

[Hatred 1388]

I think if that will be the case, then bitcoin mining community will now dispersed or disappear. They will eventually find other coins to mine, which make other crypto mining community more bigger and maybe those crypto supply will easily get empty or lose because many are using it. That will be the case if there is no btc to mine.

[Raqeebzy 6456]

The last pieces of Bitcoin will be mined in the year 2140, probably by then, if the world still exists Bitcoin should have been accepted globally as a recognised mode of payment. Hence, there might not be reason to fear of it extinction. Miners job will be only to confirm transaction and their rewards through network fees by users.