What will happen if all Bitcoins have already been mined?

[Nurul Huda 944]

On 11/21/2019 at 7:40 AM, Migo said:

Honestly I really don't know what will happen, but I don't think that bitcoin will be over, I can't imagine the end of bitcoin 

I agree with you that I can't understand that bitcoin will just end because I can't imagine anymore, so let's encourage and support bitcoin to stay alive forever so that bitcoin is very popular in the world.

[bliznec 22268]

When all bitcoins are mined, then this is to be expected for more than 100 years. I think that for my life there will be enough bitcoins.

[Akbor 1042]

I think when total btc will be minned than people may be un interested about btc mining but the popularity will not change. btc price will go high all the time.

[miskyming 1588]

I don't know what will happen if all bitcoins have already mined.. maybe the price will collapse, but no worries because we can not survive in 2140 years and many cryptos can be trade so  if no bitcoin in the future then they can use  other altcoins like ethereum. 

[Heroshema 0]

Then we can call the Bitcoin as the Goldcoin .. the prices will go up and the bitcoin will be a rare thing 

[Crypto123 0]

Thank you for this important and valuable research, and I believe that there are other scenarios that can happen:
1- Bitcoin network can become centralized because miners leave their work and very few of them remain in control of the price of fees that must be paid in exchange for completing Bitcoin transfer transactions.
2 - It is possible that there are some whales who have large amounts of bitcoin and fear losing their money in the event of Bitcoin collapses, and therefore they can keep their devices on the network and without obtaining fees and pay from their pockets for bitcoin stay alive and keep its price.

[Tine0313 3053]

On 11/15/2019 at 12:26 PM, PiroSense said:

There are several scenarios that could happen when all Bitcoins (21 million) has been mined. Let's go through the facts first before envisioning the scenarios that could happen.

 

Facts?

1. Miners would not get rewards for each block generated, unlike today when there're still left to mine.

2. The estimated time when total Bitcoin supply would be mined is 2140.

3. Miners would need to rely only on transaction fees to gain income from mining.

 

Possible Scenarios?

1. Bitcoin would become obsolete, as when that time comes, a better technology would have been invented.

2. Bitcoin would still exist, but miners may be uninterested in mining as the operational costs might be more expensive than the actual fees paid by the users. Without these miners (nodes), and without transactions made, the network would collapse and people might abandon it.

3. Bitcoin would still exist, and advancements in technology and computing hardware would make mining cheaper and thus, still supporting miners income, given the chance that people would actively transact in the network that'll pay fees.

 

These are just few scenarios that are possible to happen when all Bitcoins have been mined. What do you think would happen? Can you think of another possible scenario? I would like to hear your thoughts.

Yes you are right. I think if there's no bitcoin to be mined in the future, i think the bitcoin eill only be cycle in the crypto market. Only in trading we may earn profit.

[Delgboke 2480]

I have been thinking about this but if at all Bitcoin will be fully mined that means the value of Bitcoin may spring up to another dimension, but I don't think Bitcoin will be fully mined so easily. 

[Million 0]

ro7nwgxhej

[robull44 2]

How Many Bitcoins Have Been Mined Already? Since bitcoins can only be created by being mined, all the bitcoins in existence ... What Happens When All 21 Million Bitcoins Are Mined......

[Krisdan 1]

That won't really be a good news in must say because if our target is for the whole world to use btc then there have to be more

[McCree 713]

By 2140 I can only hope that the only people making transactions directly to the public ledger are those Lightning Network channel operators. They should be the only ones paying the transaction fees.

[Dmasked 1840]

There is still a long long time for bitcoin to reach its fixed supply and when that happens the amount of cryoto in the market will be fixed and the supply will be very low compared to demand. In such case the price will initially pump very high and when it becomes very valuable people might hold it instead if selling which will make its use as a currency void.

[Kotha511 0]

If, once all the bitcoins have been mined, the entire world uses the digital currency as its primary medium of exchange, then it is possible that transaction fees will rise due to an increase in the demand for transactions

[Gg233 1061]

At that time their will be more investors in the market and also traders and long term trader that’s why even all bitcoin mine still demand on the market and still high price.

[Rstunirk 151]

There would be a line of attack around this as the investors wouldn't choose to be at loss. Bitcoin would silent be extra than this fixed year. 

 

[Sintiya 0]

There are many scenarios that  could happen when all bitcoins has been mined..but i dont care what will happen when bitcons has been mined.but i think its transaction fee will increase.

[Amirul Islam 382]

On 11/15/2019 at 10:26 AM, PiroSense said:

There are several scenarios that could happen when all Bitcoins (21 million) has been mined. Let's go through the facts first before envisioning the scenarios that could happen.

 

Facts?

1. Miners would not get rewards for each block generated, unlike today when there're still left to mine.

2. The estimated time when total Bitcoin supply would be mined is 2140.

3. Miners would need to rely only on transaction fees to gain income from mining.

 

Possible Scenarios?

1. Bitcoin would become obsolete, as when that time comes, a better technology would have been invented.

2. Bitcoin would still exist, but miners may be uninterested in mining as the operational costs might be more expensive than the actual fees paid by the users. Without these miners (nodes), and without transactions made, the network would collapse and people might abandon it.

3. Bitcoin would still exist, and advancements in technology and computing hardware would make mining cheaper and thus, still supporting miners income, given the chance that people would actively transact in the network that'll pay fees.

 

These are just few scenarios that are possible to happen when all Bitcoins have been mined. What do you think would happen? Can you think of another possible scenario? I would like to hear your thoughts.

If it's happen then many people don't make free earning through mining. Also there was a problem with transaction. I think transactions complete for miners. There would some problem occure.

[MCSGlegend 2210]

I think that then bitcoin will cost more than 30,000 dollars for one piece, and the demand for it will be simply huge.

[maxiway 44]

I think they will continue to trade with btc, and it will continue to increase and all that, remember that sometimes the btc goes down for the miners and all that, so I think it will do well.

[Banito23 216]

I don't think that all the bitcoins will pass that stage. As far as the crypto world is concerned, there will still be Bitcoin to be mined daily. What I think that will happen is reducing the daily mining amount.

[Amir YT 202]

On 11/15/2019 at 10:26 AM, PiroSense said:

There are several scenarios that could happen when all Bitcoins (21 million) has been mined. Let's go through the facts first before envisioning the scenarios that could happen.

 

Facts?

1. Miners would not get rewards for each block generated, unlike today when there're still left to mine.

2. The estimated time when total Bitcoin supply would be mined is 2140.

3. Miners would need to rely only on transaction fees to gain income from mining.

 

Possible Scenarios?

1. Bitcoin would become obsolete, as when that time comes, a better technology would have been invented.

2. Bitcoin would still exist, but miners may be uninterested in mining as the operational costs might be more expensive than the actual fees paid by the users. Without these miners (nodes), and without transactions made, the network would collapse and people might abandon it.

3. Bitcoin would still exist, and advancements in technology and computing hardware would make mining cheaper and thus, still supporting miners income, given the chance that people would actively transact in the network that'll pay fees.

 

These are just few scenarios that are possible to happen when all Bitcoins have been mined. What do you think would happen? Can you think of another possible scenario? I would like to hear your thoughts.

I don't think there will be any problem. Because developers know about that. And they are trying to fix upcoming problems now. Recently we got lightining upgrade. It can be solution for the problem. But there is some bugs on this upgrade. Developers should fix this.

[Benjamin 84]

On 11/15/2019 at 4:14 PM, yifnt said:

indeed many people will not care about this because the rest of the bitcoin that is still available to be mined will be valid for a very long time.

I think this will have an big impact for the users of bitcoin because first, the price of it can be dropped if they are sell it to high price, this will be hard for it to reached the good value of it and many people will be disappointed with that (this is just my opinion only).

[Cryptohidayat 36]

It is quit difficult to mine all bitcoin because the power which generate bitcoin is the same and bitcoin price increased to its high. In future people will only be able to mine satohi 

[Eminoko 15]

After the 21 million btc are all mined, there will still be mineral but no mini again. They will only update Blockchain larger.