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Title: If Bitcoin mining ends Post by: Gracechen17 on January 02, 2018, 10:55:05 PM I was just wondering since i dont know much how blockchain really works. If mining stops, i read it somewhere that there will be an estimated amount of bitcoin in circulation to be reached then producing bitcoin will stop. My question is, if the targeted number or amount of bitcoin will be reached and production will stop, will the said amount be enough for all bitcoin demands worldwide? Thanks for your would be explanations. :)
Title: Re: If Bitcoin mining ends Post by: KylesmomisaB on January 02, 2018, 11:05:16 PM Well because each bitcoin divides into one hundred million satoshis the demand is essentially irrelevant. That is because if bitcoin cost 1 million each satoshi will be 1 cent and if each bitcoin cost 100 million each satoshi would be one dollar. I highly doubt one bitcoin will ever cost 100 million and even then the records can be kept accurately because of how bitcoin is divisible.
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