Bitcoin Forum

Here's a question I have had for a while, it might be a noob question but always wondered, tried using the search function but it would time out each time.
Currently, there are 16.5~ million BTC in circulation, with a max supply of 21 Million.
What is going to happen when all coins are mined? Not solely meaning on how the price is going to be affected.

They never really get fully mined, the reward keeps halving and there is a smaller supply per block constantly, until it gets to something like the last satoshi/block and then all will be mined. But that's probably >120 years from now. Hypothetically the price should keep going up with the production cost, otherwise miners will have to leave as it becomes too expensive compared to the reward, the difficulty goes down and more people mine for cheap.

Blocks will just reward fees. There will be no other reward at that point iirc.

The major change is that miners will have to rely on being paid through transaction fees, we wont be alive for this point, but we will be around to see mining rewards go down to the point where they are going to be earning not much. It might just be a utility that people pay for.

It's actually pretty simple - even today Bitcoin rewards are too small to make mining cost-effective. Transaction fees account for the rest. The closer we get to 21m thr higher BTC prices will get and we'll rely more on transaction fees. Bitcoin "ending" in 100 years is pretty meaningless, probably PoW will change 100 times by then.

truth to be told,it will not happen in a hundred years or so.
so why bother talking about it ?
why it will more than a hundred years or more ? because 'Halving',try to calculate it and you will see the result.
even if all Bitcoin mined by the miners,Bitcoin prices will undoubtly 'HUGE' even with 1 Bitcoin you can buy an island.
and who knows what will happen in the future ? may be we will switch into 'POS' ? or something new maybe ?
because they will not leave it be like this for a hundred years and more improvement will happen in the next year or so.

if nothing happen with Bitcoin in the next hundred years and nobody improve it,so i can say it'll die for sure.
but i doubt it will happen,because nobody will let it die

I think such moment, when al bitcoins are going to be in circulation, the price is going to be increased even higher, couse of the amount is going to be limited, but the number of people who wish to own some coins is just going to raise. That will awake the greatest demand for bitcoin and exactly that will make the price to grow.

well i also don't have a clear picture on this topic but what I have heard from this community sometimes is - when all the 21 million Bitcoin will be mined completely( which will eventually take a long time ) then the Bitcoin will move in a constant circulation inside the mempool or memory pool, I think the miners will get the transaction fees directly instead of block rewards. please remember that any part of this information can be wrong as I do not exactly have the complete knowledge on this topic.

Don't really know what would happen next after the max supply has been mined.
I think the price would get higher but I doubt that we would be here when that happens.

It would be very long for that much BTC to be mined by the miners and by very long I mean at least a couple of centuries. At that point, the only thing fueling any sort of mining would be transaction fee which wouldn't suffice the miners who invest a lot into their rigs. About prices, Bitcoin would be multiplying in folds and would keep reaching all time heighs, given that it survives through for so long.

Once after reaching 21million based on the requirement the change in mining might be made. Looking the ongoing scenario I believe bitcoin will be accepted by lots of users as well more countries will adopt it as one among the currency used within the country. Hope the demand will be high after the mining of 21million btc.

Hi,

From my "novice" point of view, I think it's a good question because even if we have more than one century before all Bitcoins to be mined, apparently miners have already pbs to earn enough money by mining so transactions fees have increased a lot...
And they will earn really less year after year, so all the system will be for sure based on transaction fees :

so we all don't have to forget that the number of transactions will really have to surge too !...
We can buy BTCs to think its value will continue to surge in the future BUT if we also don't use it, we'll wait our whole life to earn something on our "saved BTCs"...
BTC is more than 7years old but so few people hearded and know about it....I fell myself today really enthousiastic about Bitcoin but for sure I will use it too and not only buy to hold...

USE IT TOO !

Bitcoin network is secured by PoW, which relies on block rewards and transaction fees. Currently, block reward is 12.5 BTC and around 1 BTC in fees. This amount represent some value that higher than value of electricity used to get these rewards. In the future, as block rewards are decreasing, Bitcoins value (price) and transactions fees (amount of fees and their value) need to compensate for it, in order to maintain sufficient hashrate to secure the network from attacks. I believe that this won't be a problem, if the price of Bitcoin will be high enough by the time block rewards become very small.

Miners are continue to mine and confirm transaction blocks to get the reward from network fees. Since the new supply of Bitcoin will be gone the price of Bitcoin will keep going up with the demand for it's use going up too. This is many years down the road and we'll all be dead, even maybe our children and grandchildren too. Our great grandchildren will see the last Bitcoin mined and even 0.00000001 is worth a lot by this time.

Lol! You're blowing it out your ass making shit up, but at least it is funny!

No, the memory pool will only contain uncommitted transactions even if the supply of new coins have dried up.

Obviously, no more new coins will be mined but the transactions will still be processed by mining. There will be no mining rewards so no more Bitcoin will be born after that. The miners will just depend on the transaction fees and I thing tx fees will be very high at that point.

This whole thread is retard city, but yeah this dick takes top prize.
All part of the core censorship by inane repetition executed by theymos, looks like.

jak3 is theymos a approved farmed account.

Probably not all of the 21 million coins will be mined firstly some of them will probably be  lost. Well the way mining work is that there are blocks that can be mined which contain 12.5 bitcoin. The estimated timer says that bitcoin will be fully mined in 100 years, and there should be a bunch of block halving before that.

That's is also why not many people mine bitcoin now, only the people who live in places like China and India, where electricity is dirt cheap can afford to mine. Also why people have higher transaction fees now, to make up for the decreasing amount of block rewards.

FTFY clueless hacked/sold cafucafucafu account.

That is what I'm thinking. Even in the past there are a alot of bitcoin that is gone. So we can say that the bitcoins in the future will not be having a total number of 21Million but will be close to that total number.

Miners are making a way so they can't waste their money in mining. While the miners are closing to the hardest blocks to mine, they are increasing their fees which I think will be decreasing the time they've mined it all.

The world will blow up!
/s

Not really, Bitcoin won' fully be mined for another say 50 or so years and and in around 3 or 4 years we should see another halving happen, which is when the block of Bitcoin halve and decrease the block rewards. Miners right now are basically living off transaction fees since after bitcoin halved, the block rewards have constantly been becoming less and less and it isn't profitable.


Yep, mining is only profitable in places where electricity costs are less like in those places.

They will occupy large amounts of bitcoin

You shouldnt really be worried at all since the last bitcoin supply would be mined would be on 2100+ year and its way to far if we do see the current year but answering your question if supply is all being mined already then the price would really be expected to be affected and lets say the 21 m do already circulate on the chain and theres a lot of demands of bitcoin then for sure value of it will surge up.

Here everything will remain same even after the complete of 21 million . Because thr main factor is here the demand , if demand will increase and supply will get stopped then surely there will be only one way that is increase in the price of the bitcoin , so here most of the people will buy and sell bitcoin at high price and for thr mining industry will be better because the miners will.make direct earnings by direct fee share with the network , so surely the future of thr bitcoin with the limit of 21 millions is advantageous for everyone .
But still here a big thing that i readed in a article where it was mentioned that to reach at the 21 millions can take 40-50 years and till that new new things ( experiment ) will.be made by the team to solve this problem of limit and make morr earnings .
And also here in the market therr are some coins ( for example tcc ) which have already all the coins mined and thuer numbers are limited in the market , so you can understand how the network team owner are making money with the transaction fee .

In my own opinion, i think bitcoin will rise up more than everyone could imagine. Since in basic law of supply and demand i think when it reaches the 21 million limit for mining, the demand for bitcoin will be more. So basically the price will be going up. This is why billgates and the creator of mcafee roots for the rise of the bitcoin price.

In fact, the structure of bitcoin itself already contains a high price for this coin. Of course, with the increase in demand, Bitcoin will rise in price unequivocally, and we see today these examples. That's just wondering what happens when the mining ends and Bitcoin is fully mined. Will this affect the stability of its price or not?

Okay, essentially what will happen is that bitcoin will enter into a deflationary phase unless some sort of hard fork is imposed(however i do not think that anyone will be interested in supporting a hard fork that basically destroys bitcoin's most valuable asset - a hard cap.).

Reason being is that although technically bitcoins will never be able to reach 21 million, and the block reward will just be infinitely smaller every single halving, by the time that block rewards are smaller than, say 0.001 BTC the amount of bitcoins lost from people passing away without a will, sending to wrong addresses will far outweigh the newly generated coins. Miners will have to rely on transaction fees to make a living.

Price will go up or stabilize as supply will stagnate or even drop but demand will either stabilize or go up further.

I believe that there is a huge misconception to the idea that bitcoin needs to have a block reward to survive. But this is not the case, and in my opinion block reward is already gradually decreasing from the #1 spot for miner's earnings, and this will only accelerate.

When bitcoin gets close to 21 million then block reward is obviously under 0.01 BTC or even less. So how will miners profit? It's simple, people's transaction fees will just go to the miners, and very little newly generated coins are popping up.

This is why when say, bitcoin reaches 20 million coins i believe that the price will skyrocket. It's no longer easily created, like the good old days. Competition is going to be up, difficulty is going to be up, and price is going to be up to compensate miners.

Thats why the difficulty goes up, to make it harder to mine some blocks. Furthermore the reward per mined block gets halved every lets say ~4 years.

Just compare it to gold, lets say there is X amount of gold mined right now. If the demand for gold goes up a mining firm can buy some machines to dig for gold, and they will do so if it is profitable. Maby in 20 years there is new cheaper and better equipment and it gets profitable again.

I think if we come close to 21million mined btc, we have to give rewards to the nodes and the miners will be paid by only the tx fee and not the block reward anymore.

Well... I have this doubt as well. The mining stops by 2140 (perhaps much before that, because the mining rewards are ridiculously smaller as we nears the 22nd century AD). So without the miners, how the transactions can be relayed?

The mined 21 Million will be on the cycle because of the market, the market of bitcoin is an exchange site and it only do is to be the bridge for buyers and sellers, so if you want to buy and sell bitcoin then you go to that and because of that, the supply of bitcoin keeps on circulating so the demand of the buyers are being well sustain so there is no problem even the 21 Million will be mined out.

Ends the inflation of the Bitcoin, will not be created any Bitcoin above the 21 million, in reality the circulation there is less, because people lose coins, and the miners are going to live with transactions fee.

After all Bitcoins be mined, will the miners continue existing? Will they continue processing the transactions doing the same job they do now? And if it becomes worthless for them what will happen with transactions, who will process it?

Nothing will happen. What happens to gold if it will become an achiever? People will only use what they have. The price on this will only grow. The same situation will happen with bitcoin. The price in the future will only grow.

Do not know what the bitcoin price is, I'm sure it will exceed everyone's expectations, but it will be very difficult to get it.

When bitcoin has finished at 21 million I think the bitcoin price will increase drastically. The need for bitcoin becomes more phenomenal and can make bitcoin beyond any valuable item. Maybe in the future 1 piece satoshi very meaningful. So that bitcoin will be used by many financial systems in the world.

I'm not really concerned about reaching 21M btc.. For sure i'll not be alive.
But still interesting question  ???

As far as i know, bitcoins can never be fully mined off. I mean, it will always be slitting half by half, which mean it can go to infinity. But if we take moment, and think like it can stop, i guess that would be it. There would be fixed amount of bitcoin out there and that would be it. Price would be set with similar standards. But i can not be sure about anything, this is just my opinion.

I don't think anything is going to happen after 21 million mined Bitcoin, or maybe something might happen.
But I've always believed that the mining goes on even if it reaches 21 million. And what else?...from what others are saying, miners might as well get tired of it, all because of a low fees/profits.

indeed the subsidies will end up.
https://en.bitcoin.it/wiki/Controlled_supply

I just wonder what will happens when we reach block 682500 or something ...

I was thinking about an analogy with Interrupt coalescing ( https://en.wikipedia.org/wiki/Interrupt_coalescing ) ...Operating system schedulers typically define a “period” in which every program is guaranteed to run at least a little bit, with the system giving a “slice” of that period to each program.
 
The more programs are running, the smaller those slices become, and the more context switches are happening every period, maintaining responsiveness at the cost of throughput. (In Linux, for instance, this minimum useful slice turns out to be about three-quarters of a millisecond, but in humans it might realistically be at least several minutes.)

::)