Bitcoin Forum

After bitcoin exhausted mined would we have been unable to earn bitcoin from mining bitcoin so how we can earn bitcoin, it's means bitcoin mining equipment would be useless?

You'll be dead. So I wouldn't worry too much about it. But people will still mine for miner's fees at that point. People will always need to send bitcoins( assuming they still exist in over 100 years?).

Live, damn it, LIVE! Because you will be quite, quite old.

By that time the future of bitcoin will be certain...with halving the block sizes will be so small that we'll have been 95% mined for a long time. Bitcoin will either be thriving with some level of community direction looking out for evolution of development that needs to occur to keep it going OR Bitcoin will be dead and found in the history books and in Casascius coins kept at museums and in people's personal collections.

One concern that many people have is what the transaction fees may grow to at that point. I think this is a worry of today, not tomorrow. Largely because I believe the work the miners are doing to verify transactions can be automated through the blockchain. Like most things in our world, when it's not longer beneficial to be done by a human we find a way to automated it. Look at the postal service vs. email.

When a miner mines a block, they get a reward. The block reward consists of two parts: the subsidy and the transaction fees. Currently, the subsidy is 12.5 BTC and transaction fees are a few BTC.

The subsidy is the source of new bitcoins. It halves every year until it reaches 0 satoshis after another 120 years or so. After the subsidy runs out, miners will still get transaction fees.

Yes, it would be the transaction fees that can feed the miners who will continue on doing business. I think this has been on the spotlight recently because a well-known wallet service increased their transaction fees. As to the transaction fees, there is a possibility that it can rise but I think competition would eventually level the playing field sooner or later. When it is still possible to earn some money expect participants to grab the opportunity, otherwise we can see some to leave the business.

No, when the last bitcoin is mined then that means miners will have to earn their full revenue through fees, but by the time that happens miners will have to be already using the fees as their main way to profit.

Im agree with you,transactions fee is the main income of every Bitcoin miners when that time comes.
And I think the equipment in mining Bitcoin onis that time is very expensive.

I though bitcoin miners only take the transaction fees never knew of subsidy...hmmmm...well then this is the reason that everybody even the newcomers to  the crytocurrency world are just eager about mining..coz it pays a lot but no dought requires a lot of investment tooo. :-\

It doesn't really pay so much but it is easier then other invest!end if you buying for yourself you trust yourself so no problems with loss of investment. However there other things to factor in. Equipment failure and electrical costs I would say are the two main points to be aware of when mining any currency. Unless you can source hardware cheaply you will most likely come to a loss. Thst is why China mine so much. Most miners are made that and the electricity is cheaper then elsewhere.

When that happens the miners will get rewards from transaction fees.

Keep in mind that the bitcoin mining reward will never be zero, because it halves every 4 years approximately. It will always be a number that is above zero, no matter how miniscule it is. It's like mining gold, there will always be new gold deposits, even though they may be decreasing dramatically.

And when that happens the transaction fees people pay will probably be enough to cover the costs of the miners, because the bitcoin prices would be really high and there will be a lot of users, thus generating a lot more transaction fees.

There is no need to worry about it, that's like a few hundreds years away lmao.

There are no fractions of a satoshi, so after the subsidy is 1 satoshi, it will drop to 0. That will happen in a little more than 100 years.

It will never be useless, now fees are often 30-50% of block reward, so in future fees can easily be 300-500% of block rewards :).
Mining always will be profitable.

Hopefully fees don't keep going up as the block reward decreases. although, if the fees don't increase over time, it seems like mining will just be less and less worthwhile over time.

They are increasing over time, its a fact, u don't need to speculate about it. Even if they will slowsly increase or stop someday in one level, bitcoin price constant slow rise over the years will be good enough to counter less block rewards.