Bitcoin Forum

What would happen after all the 21 million bitcoins mined? How the transactions would be carried?

After all the 21 million bitcoins are mined blocks continue to build up. Miners will receive fees only.

The transactions should be carried in the same way as now.
The difference is that now the miners get the block reward + tx fees and then they'll get only the tx fees.
It's one of the reasons the Bitcoin price (or the fees) will have to rise enough to keep the mining profitable even in those years to come.

When all the bitcoins will be mined which will happen in the year 2140, they will only get rewards and it is possible that the price of bitcoins would rise up to a sky level and new bitcoin miners would not be any profitable.

The main thing which most likely would happen is that the BTC price will reach one of it's biggest high's.The circulation of BTC would most probably be at the same levels,although maybe much more people will prefer holding BTC and will rather not sell their BTC

If the fees increase less people will use bitcoin, which means that the bitcoin price will decrease.
When the block reward dissapears after all btc mined,the fees will have to increase in order to keep the mining profitable.
If the mining isn`t profitable,who will handle all the transactions?
This means that the bitcoin price will have to reach the sky,or bitcoin will die. 

This issue has been discussed for years and the solution was actually part of the make up of bitcoin, Satoshi talked about it in the bitcoin white paper.  Transaction fees will reward miners for continuing to mine even after the block reward has stopped, which incase you dont know will be some time around the year 2140.

Many use Bitcoin as asset, as store of value or investment.
For them Bitcoin price rise to the sky is just fine.
However, if Bitcoin cease to be a coin, miners (and the network security) will be in trouble: whatever big will be the price of Bitcoin, if it doesn't circulate there will not be tx fee at all. No reward, no mining, and so on..
I hope that the system will auto-adjust itself and survive. Actually Satoshi thought of this problem and we have the halving, which is a good way to prepare, slowly, everybody to what's to come.

Year 2140 is too far away and we wouldnt able to see or witness the last bitcoin would be mined.Expected after the supply have been completely mined then prices will surely surge and the same as other members said miners would only just profiting on transactions fees.

With no more bitcoins being added into circulation, then we can only expect the price to rise. I guess that was his intention anyway, to make it like a finite resource like gold. The price would probably really high by then (and probably wouldn't be alive to see it, heh) and that would be fine since that would give miners incentive to continue work and just earn from the transaction fees. Bitcoin's high divisibility comes to work here since even if the price reaches past 10k by then, we can still transact and just use smaller amounts.

How would a technology that incentivize "hoarding" lead to more transactions? We are hoping the demand will increase to a level where hoarders

will start to sell and then more people will share the bitcoins in circulation. We should just hope that the new people buying into Bitcoin are not

doing this to "hoard" too. This is why we should all adopt a strategy that all bitcoiners should only hoard about 80% of their coins and they

should spend 20% to "oil" the network and to generate transactions.  ::)

Think about the profit miners will get when there will be 21 million bitcoins transacting in daily basis. Of course there will be holders but also at least 18 - 19 million bitcoins will be in the flow. Miners may not be getting as much as they are having by mining but they'll definitely have profit with it.

it will be alla about fee, and miners now this, and they are building the value of the fee right now with the increase, without the reward miners need to have a form of revenue which derivate from a bigger transaction fee, in 2140 when the reward will end a transaction fee will have a gigantic value

That’s a very valid question and many people have the same question in their mind. We all know that bitcoin transactions are included in a block and then need miners to confirm the block before a transactions can be confirmed.

However, after 2023, when all the bitcoin will be mined, the miners task will not end. They will have to keep running active nodes in their system to confirm the transactions and they will get the fees in return. I think the transaction time will come to minimum but fees will be higher than the current fees.

miners will mine for transaction fee only, that's why we have transaction fee, otherwise miner after the block reward end will not have anything as a reward, was very wise from satoshi to add this features

We just hope that the price of bitcoin is high enough so that even if the miners only live from the transaction fees, it will be enough to cover their cost and still have some profit. Or else, there will be no miners and bitcoin will be dead.

When the mining in progress that time your transaction amount of bitcoin will move in the multiple blocks to complete the transaction with the specific number confirmations with that.
Miners will get the mining fees but its not enough to make out the electricity charge as well. In recent days you might noticed that transaction send via blockchain.info consumes some big fees amount for minimum mentioned fees also.

Dont really have an idea if what will happen if all bitcoins will be mined in the future.But surely it will affect huge the price of bitcoins,it may stablelize or even play a lilttle more due to huge demand with not enough supply.Bitcoins price may rise or vice versa

In 2140 if there's 100k txs per minute and $0.10 per tx, and the "block reward" will be $100,000.

Everything depends what the demand for Bitcoins will be then but I'm sure mining all Bitcoins would affect price a lot and it could go very high. But if the greatest amount of Bitcoins would be in hands of just few people, whales, that could be bad for everyone else. But this is still distant future so we can only speculate.

Nothing special will happen when all the Bitcoins are mined. The price of Bitcoin is determined by current demand to transfer value (ie. real use) and expected future demand (ie. speculation). The only way this will change is if a constant stable amount of value were continuously being transferred through the system, which would require significant real use. As yet real usage is pretty insignifcant and most tra

Miner will get transaction fee and if no miner i think transaction will stuck

when that will happen we all move to mine an other altcoin for example ethereum..

I would hope that by that time the idea of mining just to make money will be long gone.

I'd happily run a mining rig if I only broke even on running costs and replacing the hardware when it needed it.

I think we are reaching a point in society where more and more people are realising that banks, corporations and governments don't give a shit about us and are only in it for themselves. Most people are the same, only bothered if something benefits them, but there are a lot of us who will help others without wanting something in return. Most will sit in traffic pissed off with the broken down car in front, and not give a shit about actually spending a minute helping them out, if only to move the obstruction they are getting pissed with. I would hope that in 100 years time, assuming Bitcoin and money in general is still a thing, transaction fees would be what's required to run the network, and not what miners want to line their pockets and driveways with.

The transactions have nothing to do with mining the unmined bitcoins they will continue and as others have mention that miners will get only the transaction fees but still they will not lose benefit because at that time more coins will not be produced to the market so supply will be reduced and the price of it will increase higher so miners will get a good fees.

Everything depends what the demand for Bitcoins will be then but I'm sure mining all Bitcoins would affect price a lot and it could go very high. But if the greatest amount of Bitcoins would be in hands of just few people, whales, that could be bad for everyone else. But this is still distant future so we can only speculate.

Umm… people throw a party? No, seriously, if Bitcoin is still being used in 2140 when all the bitcoin are mined, nothing will happen. Miners will still continue to secure the network and get paid with transaction fees. Nodes will still continue to record all the transactions on the blockchain. Users will still use. Hodlers will still hold. Haters still gonna hate. And the Honey Badger of money will still continue to not care.

When every bitcoin is mined miners gets benefited through transaction fee that needs to be paid on every transaction. At that point I believe bitcoin will function similar to the present time banking system.

If we actually make if that far, if indeed bitcoin still persists after all those years; we would have gone through a great many halvings, and developed extreme confidence in the protocol. The price should be through the moon at that point, and although it sounds crazy to me now, fees would be a sufficient incentive to keep the network going.

One thing may happen is bitcoins price will stable at a low to medium amount but will not rise up until demand comes up and supply got lost

After mining I think there will be more demand for Bitcoin in order to compensate for the ceasing of mining.

There won't be a ceasing of money. People will keep mining but will only earn from fees. The fees don't really need to increase... By the time all the Bitcoins will be mined there will be many, MANY more people using it which means there will be a lot of fees paid. So we won't need higher fees as soon as there will be probably over twenty times more transactions than there are at the moment.

The end game presumes once block rewards become that small, transaction fees kick in and the value of a single Bitcoin compensates the miners and the sheer volume of transactions keeps them mining the chain.
In reality it does work that way and assuming the price of a single Bitcoin keeps rising then even small satoshis could be worth a lot of money once all the coins are mined.

In the short run it doesn't work that way as miners are more concerned with the profits today than far in the future hence the blocksize limit debate and what should be prioritized.

They'll always be concerned about profit, standard ROI hangs around 6-8 months these days. With the whole Segwit LN stuff going down the network is more split than ever

all will be well if it is 21 million bitcoin has been found and allow miners to get the cost of each transaction is certainly not the least bit cost is not too expensive
1 thing that will be beneficial to all parties as well if every big miners made a contract for each user using the tool Accelerator at their quarries and let penggguna they fill tx transaction id bitcoin they were at least 100 transactions per month in order to immediately confirm quickly and of course, customers can pay monthly subscription fee on their mining sites

The real question is, how much it costs for transaction fees to keep mining profitable?
No need to wait until all of 21 Million bitcoins mined to see bitcoin skyrocket or die I guess, current fees is higher than transaction through visa or PayPal for certain transaction (based on byte size). Double edge sword, if fees doesn't increase than miners won't process it, on the other hand bitcoin will not interesting for new users anymore as it has higher price and higher fees, they prefer to use fiat money and banks services obviously.

I dont know what happened next if all bitcoins are mined, and lets accept by that time comes, we are no longer living here in this planet. Let's enjoy things's first, its too far to reach 2040, Enjoy the moment we are in here because there a lot more surprises waiting in the future. Alt coins will eventually rise up and this will dominate in the future if all bitcoins are mined.

In my opinion, Bitcoin will remain as it is, being traded in the market. The difference is that people now know that the supply of.Bitcoin will no longer increase. And there are 2 things that can happen.

1) Bitcoin holders and investors might start selling Bitcoins until the price drops to zero which we dont want to happen.

2) Or since the Bitcoin supply will no longer move, the demand might continue to increase because the thinking of others might be aggresive and they dont want to miss out on having Bitcoins.

so later there is a possibility that altcoin will be more glowing than bitcoin.
but is it possible that it will happen, because now altcoin is still less competitive with bitcoin.

21 Million Bitcoin Cap is expected to be reached in 2140 and so far about 16 million has been distributed so it is impossible of our lifetime that we could witness these total Bitcoins to reach the maximum cap. But in the meantime, no one can ever predict the future of any digital currencies that is already existing.

According to my calculations,  I am sure I wouldn't be around for that to happen as the difficulty ratekeeps going higher and higher the more new miners enter the fray, I am wondering if the value will still continue to rise when there have been all mined or what.

In other words, there will be no bloack reward hence the profit in mining would solely dependant with transaction fees.

even bitcoin can survival after 2050 is too good for everyone invest it. so dont need to worry what will happen after I die

After all the 21 million bitcoins are mined miners will still continue to secure the network and get paid with transaction fees. I think bitcoin prices will moon then.

I was thinking that after all 21 million bitcoins are mined there are still bitcoins that all the miners can mine from the transaction fee that all the people around the wolrd evryday using but the amount of bitcoins become small and hard to mine

Yes since it would take around 140 more years before the last block of Bitcoin be mined. It's a very long time so we should not be bothered about this because all of us here are dead on that time. Too bad we cannot witness that to happen or maybe we are not sure if that will happen.

I think miners will get commissions, but they will be not new bitcoins, but will be all those received by someone earlier. To understand what will happen is necessary to look at the economy. In fact, something will come that looks like a gold standard.

yes i think u are right

If the time that all bitcoins are mined, Nothing special will happen when all the Bitcoins are mined. The price of Bitcoin is determined by current demand to transfer value and expected future demand . The only way this will change is if a constant stable amount of value were continuously being transferred through the system, which would require significant real use. It will be at ease.

I wonder how a new block (without block reward) can still be added into the chain if all 21 million blocks are already mined. This new block can still meet the Proof of Work?
Someone can explain it please thanks.

Bitcoin transactions will be processed, still, with mining. Miners will take profit from transaction fees alone since there won't be any bonus Bitcoin anymore for every successful block mined. I find this question odd since you're a Hero Member. I'll let other judge, for now.

they can still mine bitcoin but the only thing they will receive is fee from all the transaction in the current block
the bitcoin mining will end in the 2140 its 122 year from now

Many think about the fate of bitcoin after all the bitcoin is mined, I think the transaction will run as usual now, but in terms of bitcoin prices will rise extraordinary due to a special item.

For Bitcoin, there is no parallel devaluation. If anything, Bitcoins should become more valuable over time as the number of Bitcoins entering the system decreases. Not only is the total supply of Bitcoins capped at 21 million, but the flow of new Bitcoins into the market has also been tapering off. Roughly every four years, the number of Bitcoins awarded for mining a block is cut in half.
When Bitcoin miners “mine” a new block of transactions they are rewarded freshly minted Bitcoins. Originally, 50 Bitcoins were earned for mining a block. Then it dropped 25 Bitcoins, and then to 12.5 Bitcoins. In 2020, it’ll drop to 6.25 Bitcoins.
Thus, while a government may constantly increase its money supply, Bitcoin has built-in features that encourage the exact opposite. The decreasing flow of new Bitcoins and the 21 million cap will help ward off inflationary pressures.

It is unequivocal that when bitcoin is over then the price will skyrocket. But it will not happen soon. I also think that capitalization will increase. Then the price will in general become very large at the limit of 50-100 thousand

Probably when all of the bitcoin is mined, it will become more of a rare thing, it will have a high price and it will pretty much be like gold right now, transactions will stay the same because miners need to check  and confirm that a transaction that is sent, and they will still take fees for it, overall i think that satoshi has thought of everything and had a gerneral idea on how the bitcoin will work with its limited supply.

It may not take as long as these other posts are predicting. Technology is moving quickly so when more powerful processors are released so will the speed of mining. After the last one is mined, I would say price will rise even quicker!

The fees will most likely go way up and Bitcoin will be more of a store of value coin instead of a transaction coin. It will probably still be used to make large transactions....houses, cars, ect. Will be interesting how many miners stick around for that when the times comes.

The miners that want to get paid with Bitcoin can still get paid by mining Bitcoin after all the coins been mined. People should read the Whitepaper.

https://rados.io/content/images/2018/02/thumb_Screen_Shot_2017-09-06_at_3.57.38_PM.png

As you can see, bitcoin's mining reward halves (divides by 2) every 4 years, and as satoshi predicted, "bitcoin will either be worth a lot or nothing at all", and we are headed for an "a lot" outcome, innertia is too big now, it cannot fail.

So every 4 years the price should be much higher than before. This will eventually make miners be able to make a living off transaction fees only, without no halving. Of course, unfortunately nobody reading this right now will live to see the day that all bitcoins are mined.

After all bitcoins mined still miners will work and will get rewards which are paid by us in the form of transaction fee.At that time the price of bitcoin may too high but it still have long journey ahead.As per the calculation the last block of bitcoin will be mined at the year 2140.I am not sure bitcoin can live upto that much longer if it does then price will be too expensive maybe $100M per bitcoin. :D

After all reached 21 million bitcoins, the mined blocks will continue to grow. Miners will accept the fee only ... *

I don’t really know how things will be by then, it’s lots of years from now. But whatever happens, I believe it will be for the good. As many of the people said, miners won’t be paid mining fees anymore, they will only be paid transaction fees and tax fees, if I’m right.

There will be nothing like mining then. But if that’ will cause a problem, it will likely be that they can create a new cryptocurrency and move everyone who has Bitcoin over to it.

Of course many people are selling bitcoins because they are expensive. And bitcoin increasingly rare it will be more expensive price and many also enthusiasts.