What will happen if all Bitcoins have already been mined?

[PiroSense 2681]

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.

[Keith700 1885]

1 hour ago, 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.

Bitcoin will continue to exist but to some extent innovation will become obsolete, this practice will be driven by the same people, seeing that all bitcoins have been mined a reaction from miners in general is perceived, seeing that they do not get the same level of profits reducing that to only transaction fees, the price has to be more hybrid than volatile.

[yifnt 666]

This is a good discussion, 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. Maybe this discussion will be read by humans in the future

[TimopheyKa 3900]

Still, as I think, when bitcoin is over, there will be a new popular currency, or when they get all the bitcoin, the price will start to rise , because it will become quite rare. And maybe the price will rise to the skies, as some critics suggest, up to 1 000 000$

[Akash0011 136]

i think when all bitcoin mined then bitcoin price will increase so much and transaction fees also increase so much.. but nobody tell about right things into crypto market cause nobody knows about crypto future.. and so many people free sorry for there luck cause they don't invest on bitcoin in right time and they loss the biggest opportunity.. i think when all bitcoin mined then if bitcoin alive then he also do something for crypto lovers.. 

[Nicecrypto 543]

I guess this are all assumptions since we might not be there to know what will happen to Bitcoin and it's price. If the mining of Bitcoin is what really push the price as some are saying, then after the total mining of Bitcoin maybe the price drops and on the other hand isn't there any crypto project that is currently not being mined, stacked and still trading? 🤔

[IrinaLavrinova 365]

If the amount of water coming from the tap will gradually decrease, because of this, the available water will become more valuable. As for the miners. Some of them conclude that the costs of mining - electricity and computing power - are not already worth a reduced reward, while others will still hold on to their devices for mining.

[bentayebsalah 2280]

Nothing will happen. The currency will continue to trade and remain high and low depending on demand and supply
There are coins that have all been mined and nothing has changed

[Hatred 1388]

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.

I think it will be a big problem if all bitcoin is been mined. They will be a scarcity in btc and many users will eventually quit using btc and other altcoin. Maybe it will be the start of the fall of bitcoin.

[aika 286]

Well indeed the system needs the miners to go on, when all the blocks are mined then what's the point in mining of it's not profitable? The whole system will fall down unless another way to make bitcoin infinite is invented. I think before that happens, a new technology will replace the current cryptocurrency system.

[I-KUN 422]

Bitcoin Will still exist. But i don't think it Will still valuable or not. Maybe There Will be the other technologies better than bitcoin in the future.

Also There are some question. If all bitcoins have been mined, how about the bitcoin transaction? The transactions Will be confirmed of the miner found the block. So if There are no bitcoin miner, how the BTC transactions Will be confirmed?

[pangitmo 186]

That is quite impossible but if that really happens, it will happen a thousand years later when maybe all of us are already dead.

[faceless 296]

So basically it will be the end of bitcoin as we know it. The solution is to pump the price of btc so high that it will increase difficult in mining, or to make more bitcoins.

[Nurul Huda 944]

On 11/15/2019 at 11:18 PM, madera said:

I think will happens nothing if all bitcoin have already mined, there are a lot bitcoin in more around the peoples if I m a seller a sell to buyer then the buyer will sell them to other...etc is possible will be a catastrophe if on person buy all bitcoin in the market.

Basically everyone only needs huge profits and income so they are in the forum or in the online business world and therefore you will not seem to care about what happens when bitcoin is mined then it still won't be experienced by you because it doesn't affect you. Provided you know that bitcoin is alive as long as many people participate in it, so long as many people participate in bitcoin.

[myaccount1 584]

Just now, Jackmil said:

If all the bitcoins have been mined, the need for bitcoin is increasing and there is an increase in the price of bitcoin to be very high. That's my opinion when bitcoin was all in the mine

Yes there are alot of peoples who's are  saying same as you that when all bitcoin will go to mine then its price  will start to increase high. 

[Nurul Huda 944]

On 11/15/2019 at 1:00 PM, jone said:

then i think btc lost there value and some down to the zero or zero then why i ask that the btc need to go own the sky then its need to increase the volume 

If it's termed btc go to wind because prices start to decline so if the conditions of bitcoin are so we have to move quickly to support bitcoin to be even better so that prices in the market start to rise again so we as followers must participate in goodness.

[Migo 7946]

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 

[BatR70 132]

"What will happen if all Bitcoins have already been removed?"

Bitcoin itself gives you the answer to your question. The code includes the adjustment in the difficulty of mining. When the last BTC has been generated, it will self-correct after 2016 blocks, in order to correspond to the number of miners left in the network. This and the increase in the speed of calculation of computers today to the year that this event happens, from the last BTC mined, I believe that the continuity of the Bitcoin network will be guaranteed, even knowing that the mining profits will only come from our commissions for transactions.

There will be millions of users making transactions that I cannot see.

[rchres 414]

When the Bitcoin all mined. I think the value of Bitcoins increased and restricted to mined Bitcoins. Higher the value of Bitcoin so much because no Bitcoin at all. But it's profitable when you sell Bitcoin. 

[khan22 3478]

On 11/15/2019 at 9:53 AM, Paranoxxx said:

I don't care about what will happen when all Bitcoins are mined, I will not experience that. What should happen? I think the amount of BTC is restricted and when all BTC are mined nothing will happen.

If all the Bitcoin is mined then they generate more coins and they are regularly generated the coins and peoples will mined them but if someone say that bitcoin will finished then this is not true and like Bitcoin there are more coins in the crypto market which are best and real coins.

[joveda 11]

I do not know any reason to talk about this not because at the time of all Bitcoin will be exploited, perhaps all of us will die because it takes over 50 years for that to happen.

[xprince1996 865]

If all the bitcoins were mined it will surely result in the scarcity of the supply resulting in high demands of bitcoin to the market eventually leading to a price increase of bitcoin. 

[sidik7 1217]

in my opinion if bitcoin overall has been mined i think the price of bitcoin is fantastic , the reason why because demand is very high every years will continues increase.

[izDazma 42]

On 11/14/2019 at 8:26 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.

According to the statements aboved, the transaction fee would go higher as the demand is. And also according to an article I've searched. The fact is that the bitcoin is just like gold. It has limited supply for the planet so the bitcoin is. You can also read an article through this link: https://www.investopedia.com/tech/what-happens-bitcoin-after-21-million-mined/

[Afrizal rahman 2636]

Yes, all the facts and possibilities that can happen. when bitcoin is no longer another person because they have found a better replacement. people will move to new coins.