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Title: What happens when all Bitcoins are mined? Post by: hypcoin on January 19, 2018, 05:17:58 PM What can we expect in this situation?
How are the former miners being rewarded and is Bitcoin going to be more valuable by then? Title: Re: What happens when all Bitcoins are mined? Post by: mk4 on January 19, 2018, 05:19:08 PM Basically, miners will be rewarded solely with the transaction fees.
Some more information on this topic: https://99bitcoins.com/what-will-happen-when-all-bitcoins-are-mined/ https://news.bitcoin.com/what-happens-bitcoin-miners-all-coins-mined/ https://bitcoin.stackexchange.com/questions/8439/why-was-21-million-picked-as-the-number-of-bitcoins-to-be-created Title: Re: What happens when all Bitcoins are mined? Post by: Slow death on January 19, 2018, 05:41:18 PM What Happens to Bitcoin Miners When all Coins are Mined? (https://news.bitcoin.com/what-happens-bitcoin-miners-all-coins-mined/)
What Happens to Bitcoin After All 21 Million are Mined? (https://www.investopedia.com/news/what-happens-bitcoin-after-all-21-million-are-mined) what-happens-bitcoin-after-all-21-million-are-mined/ (https://99bitcoins.com/what-will-happen-when-all-bitcoins-are-mined/) What Happens When All 21,000,000 Bitcoins Have Been Mined? (https://cryptocoinmastery.com/what-happens-when-all-bitcoins-have-been-mined/) What happens after all bitcoins are mined? (https://www.reddit.com/r/Bitcoin/comments/6c9s2b/what_happens_after_all_bitcoins_are_mined/) What can we expect in this situation? How are the former miners being rewarded and is Bitcoin going to be more valuable by then? just read these links that I posted that you will understand everything Title: Re: What happens when all Bitcoins are mined? Post by: Selenites on January 19, 2018, 05:49:24 PM Basically, miners will be rewarded solely with the transaction fees. So basically if they only be rewarded with transaction fees will that make thoses fees cost more and more? Today it's nearly impossible to send btc without huuuugh found I can't imagine what's the future of it, hope the LN will save us all :D Title: Re: What happens when all Bitcoins are mined? Post by: dogandogru on January 19, 2018, 06:00:26 PM Miners will charge transaction fees as the reward of confirming the transaction. Now the question is that will Bitcoin mining will remain profitable after the block reward ends!!!
Initially, BTC mining reward is 12.5 BTC for mining a block which will get half in 2020 i.e. 6.25BTC so it is important that Bitcoin price continue to rise else Miners will charge high transaction fees which will make Bitcoin transaction too expensive and practically impossible. Title: Re: What happens when all Bitcoins are mined? Post by: HabBear on January 19, 2018, 06:05:35 PM What can we expect in this situation? How are the former miners being rewarded and is Bitcoin going to be more valuable by then? Supply will stabilize, which should have a positive impact on price. What supply is constant the increasing demand will have a greater pull on the price. As for the miners, transaction fees will start to encompass more and more of their earning from serving in a mining role. We'll also probably see more consolidation of the miners because the prospect of earning coins straight out of the blockchain won't pull in the independent miners as it does today. It'll take a long time for all coins to be mined - the current estimate is the year 2140. However the block rewards will drop to very low numbers very quickly. The block reward halves (currently at 12.5 bitcoin per reward) after a pre-set amount of blocks have been processed (right now the pace is about 5 years between halving events). So within 15-20 years the block reward will be down to 1.875 Bitcoin. At that point there will be little incentive for independent miners to get involved, unless the price of a bitocoin goes up tens of thousands of dollars. |