Bitcoin Forum

What happens in 2140 when the last BTC was mined with the confirmations of the transactions in the blocks and thus with the block rewards. There should not be more BTC than Rewards, because 21 Mill BTC were gemined.
How are the transactions then confirmed?

bitcoin will have moved to pos by then.......... dont worry about it since you will be less worried by then too i expect

there are tx fees left to allocate after mining is done

The idea is that once the majority of bitcoins are mined, the sum of the transaction fees collected in a newly mined block would be enough to cover for the mining reward. It is not an unrealistic scenario given the current transaction fees.

Theoretically there will not be any big difference (like changing to pos or anything like that).

As butka said, transaction fees will be enough for the miners.

As halving is already going on, block reward is not that high as it used to be, and we didn't moved to PoS.

As 2140 is a very distant future, by 2021 block reward is going to halve again. That will be an interesting moment to watch. Probably price will go up as there will be less bitcoins going to exchanges.

I also see that the price of the BTC could rise, if their will be less BTC going to the exchanges and the BTC will be shortage                                                                                                       

Whether the transaction fees then for the miners sufficient, will show.

Unfortunately, the miners have had disputes in the past because of the amount of transaction fees. That's why we already had some hard forks with the well-known result.

I also like the BTC as a payment coin. He is a piece of personal freedom for me.

Something tells me that it will happen in some popular museum, where visitors will be able to explore the evolution of money from seashells to the Bitcoin. ::)

we will be dead so it's not our problem ?? it's our kids' problem lol. I read somewhere that the transaction fees will cover the reward for mining. and that is interesting to see because the mining reward keeps getting small and the transaction fees are big as they are so maybe there will be a compromise somehow.

By 2140, Most small transactions should have migrated to using some variation of a second-layer solution like LN. Most on-chain settlements would be bigger transactions for which the parties will be willing to pay a good amount as fees for confirmations.

If sufficient distribution and decentralization could be ensured, we would have moved to a more open and free market with little scope for political motives determining availability of economic opportunities to people and countries. People would be much freer to monetize their skills if they choose to from any corner of the world. People would also be free to do more good for the poor. We will probably have a sharing economy.

Mining hardware would be advanced enough for anyone to contribute to the network without worrying about breaking even. The selfish motive would be replaced by a different understanding of what money is.

if bitcoin fully mined in 2140, then it still have a long time.
when bitcoin circulation cannot be added more, the value of bitcoin will more and more expensive.
but who gonna hold bitcoin for 100 years more ? we all could sell it in the future.

here is how the block rewards change over time

but anyway for mathematical purposes

year*  reward
2009   50.00000000
2013   25.00000000
2017   12.50000000
2021   6.25000000
2025   3.12500000
2029   1.56250000**
2033   0.78125000
2037   0.39062500
2041   0.19531250
2045   0.09765625
2049   0.04882813
2053   0.02441406
2057   0.01220703
2061   0.00610352
2065   0.00305176
2069   0.00152588
2073   0.00076294
2077   0.00038147
2081   0.00019073
2085   0.00009537
2089   0.00004768
2093   0.00002384
2097   0.00001192
2101   0.00000596
2105   0.00000298
2109   0.00000149
2113   0.00000075
2117   0.00000037
2121   0.00000019
2125   0.00000009
2129   0.00000005
2133   0.00000002
2137   0.00000001
2141   0.00000000

**based purely on current fees per block(~1.5btc)..
we could see the importance of reward:fee  flip to  fee:reward happening around 2029
where pools care less about the reward and care more about fees

the pools will continue to mine blocks because they get paid via fee's from transactions

*note dates are variable because blocks are not solved at exact times of 10 minutes(2016/fortnight)
for instance the january 2013 halving actually happened in november 2012 and the 2017 halving happened in july 2016. the next halving is ETA'd for May 2020(not jaanuary 2021)

i dont get it. moving it from POW to POS is still useless because it has been fully mined, ins't it ?
the coin circulation cannot increased anymore. mining bitcoin will never exist again.

Miners will still do the job and they will now mine to confirm transactions and they'll earn through the tx fees. Read these articles for better understanding.
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 to Bitcoin Miners When all Coins are Mined? (https://news.bitcoin.com/what-happens-bitcoin-miners-all-coins-mined/)

Yes after 2140,there would be no more blocks to mine bitcoin and hence there would be no more rewards for miners for confirming transactions.At such a condition,transaction fee would be increased for miners as a compensation for the miners to keep the process ongoing.

I have been meaning to ask similar question since but I didn't let it bother me much because we will all be gone by then. All I know is that this will push up the price of Bitcoin due to scarcity. I also agree more with the fact that once the majority of bitcoins are mined, the sum of the transaction fees collected in a newly mined block would be enough to cover for the mining reward. It will be interesting to see more views on this.

In fact there will still be blocks to mine, because without new blocks there would be no possibility to record new transactions in the blockchain. However, there will be no reward in the form of coinbase transaction (the first transaction in the block included by the miner to collect the block reward). There will only be a reward as a sum of all transaction fees included in the newly mined block.

You are worrying much my friend. At least if all of the Bitcoin are mined then by the time that it happens then you are already rich.

Ye I can imagine it switching over to POS as an option but there is also an option to tip when a miner decides to mine a block. I can see this tipping implementation along with transaction fees as being sufficient enough to incentivise miners to secure the network

Will miners continue to mine bitcoin after that? Will mining still be profitable? Will miners used in mining evolve to consume less electricity and make mining profitable with fees in the future? How will miners survive with tx fees? I doubt miners will still do the job if these questions are still questioned 50 years from now. I also think that instead of earning through tx fees alone, there would be methods invented to make mining profitable again before all bitcoins are mined in 2140.

Less worried due to sleeping 6 feet under. Jokes aside, if bitcoin is to survive as global uncensorable cash by 2140, it will have to undergo transformations that might not seem realistic today. I get the feeling that today bitcoin is not treated with the respect it's due. The vibe I get from interacting with somewhat knowledgeable individuals on this matter is somewhat derogatory. They are viewing as an amateur product with lots of hype behind it. And to be honest, the petty politics plaguing the space are not helping.

Bitcoin will have to change into something user friendly, but professional. I don't know how else to put it, other than making a simple analogy: most people see bitcoin like a young skater with decent talent. Older folk tend to look down on him, cause they don't understand him. They don't think and honestly don't care if he ends up famous because of what he does. In order to appeal to this category of people, Bitcoin will have to be able to wear a suit and tie, at least from time to time.

The last bitcoin will be produced much earlier than expected, there are 4,000,000 bitcoins left, so that there will be changes in the coming years, but the consequences will be unclear

I don't understand this question.
but what I think for you, the question is, are you still there in 2140? we will never know what will happen in the future. and until now bitcoin still has not reached its maximum supply, in other words can still be mined.

This won't be any of your priority I guess.
If it's on a curiosity purpose, you can count on a POS switch!

@ballexplorer: A good question is: If many people have to think about it.
I too have thought about it, even if it is still a long way off.

But after all, it is also a question of the conception of the BTC and therefore the question is justified.
With our current understanding of the BTC Blockchain, there will still be blocks in many years to be entered in the transactions and confirmed.
There will then be transaction fees for the miners.

@batang_bitcoin: Thanks for the link
@amishmanish: I like your thoughts on distribution and decentralization.

Or maybe quantum computing will mine all before 2038

well, if many peoples still use bitcoin, then bitcoin price will more spiking at that time because bitcoin circulation cannot increased anymore.
bitcoin demands can increase, but bitcoin supply cannot increase. resulting a very expensive price in coin.

[1] Yes
[2] Yes
[3] We don't know what the future lies ahead.
[4] They are already surviving today so by that time they can still but we don't have to think about it anyway, it's a century before it happens.

You're welcome.

Maybe, technology is advancing with great speed. I think nobody can`t claim nothing at this point, even until 2038 there is 20 years left, many things can happen in that time. What is interesting for me is how people are accepting bitcoin and blockchain technology I`m sure that the same will be with quantum computing, people first doubt in it, then they will test it, then so many lies will be spread how its used by criminals and terrorists, etc. So even if it comes in 2038 it will take years to be accepted.
About 2140 I don`t know what to say, why would we even think about that. Nobody from here now will not be alive in that time, how much we are destroying this country every year its a question will whole world exist in that time, bitcoin is irrelevant.

maybe in the year 2140 bitcoin has reached the limit of 21 million and can no longer in the mine bitcoin become scarce in the market and the price is very expensive $ 1,000,000 for 1 bitcoin :o

I would like to thank all users who posted their opinion in this Tread.
It is very interesting to read the different opinions.

It's too early to seriously guess what will happen after such long period of time. Paying attention that cryptoworld is a part of a real world and there might be significant changes - we simply cannot predict future of Bitcoin as it depends on a lot of things.

I know this will raise the price of bitcoin because of scarcity. I also agree with the fact that the majority of bitcoin is mined and the amount of transaction costs collected in the newly mined blocks will be enough to cover the payoff, will appeal to more views on this subject. 8)

There are 2 first arguments, some say that miners will be forced away from the rewards of the blocks they receive for their work once the supply of Bitcoin has reached 21 million. In this case, these miners may need to rely on transaction costs to maintain their operations. Miners will then find inaccessible processes, leading to miners being depleted, the Bitcoin network concentration process, and many of the negative effects that occur on the Bitcoin system, transaction costs alone will not be enough to keep Bitcoin miners financially dissolved once the mining process is over.
On the other hand, there is reason to believe that transaction costs and mining costs will actually increase in the future. The mining chip will be small and very efficient. This will reduce the burden placed on the miners and allow mining to be activities that have lower initial cost. And transaction costs can increase, so this can help miners to stay afloat.

miners will still be around, it just that there won't be block-rewards for miners anymore, only tx reward ( transaction fee reward ).

Is there something I'm not getting here.When there is no more bitcoins to mine,how are you going to create any more blocks in the chain?
If I understood the payment system correctly, more blocks have to be generated in order to verify the correctness of all payments.But as we approach the last bitcoins to be mined the number of hashes required to find a block will approach inifinity.When all the bitcoins have been mined you will have the equivalent of division by 0?

It will mean Bitcoin price will sky rocket due to less supply as more and more people will want to have a piece of bitcoin. It will be very rare coin and will be hard to get.

Most people do not know what will happen after the bitcoin runs out at the mine which is estimated to be exhausted by 2140, and we certainly will not live that time of year, but I think it will run automatically in confirmation.

What a long years my friend.I dont know whats happening in that stage of crypto currency when its high or low.But for now i will focused on what I can do to expand my profits.

By 2140, we will no longer be alive, even our children will die too, so what's the difference with bitcoin? :) For a whole century with little, the world will change, not to mention the mining of bitcoin.

Very good question sir, you can just magine your country on where you belong have a lots of coins money or paper money why is it that sometime money on the floor are limited and minimal? that supposedly stocks circulated are volume Because of own machine to be use to create that kind of money, why they create a new volume of stocks?. That is also the future of bitcoin if all stocks are mined by miner. The founder of bitcoin which is until now he is unknown person, i think he will give an additional bitcoin for us without prior notice.

I found an interesting article on BTC-Echo on this topic.
Below the link
It´s in german languages

https://www.btc-echo.de/was-passiert-wenn-der-letzte-bitcoin-gemined-ist/

I see no reason why should I be worried about this, neither my children :) by that time, Earth might not even exist anymore, seeing the way this civilization is progressing...

Well, in that case, I believe that one ICO project will develop another good project wherein their coin is only acquired by mining and not buying, but they need a hell of a plan to come up with a good result.

 it just only 4 Million to mined, maybe its not last up to 2140 maybe it just 10 years again? after that maybe bitcoin price will be rising up if bitcoin still popular and maybe it will makes changes orthey will makes another child coin like BCH to be mined and of couse the price is lower than bitcoin

In theory transaction fees will "reward" the miners, but unless computers become smaller, faster, and smarter, then I doubt there will be any profit in this. One solution to this is to move over to a proof of stake system, but then again, how will this really effect Bitcoin prices? 2140 is a long time away... Its hard to say how many advancements there will be. Perhaps there will be a whole new system altogether.

if that's the year I'm sure million is a bitcoin because bitcoin will get an update every year so you know that bitcoin price is too high for that year so it's best to store bitcoin so it will not override the latter and stock it in your wallet for your future

Miners will have to continue mining for transaction confirmations. Transactions written in a block will still need to be confirmed by miners. Indeed mining will not be profitable but I think at least pools will continue to run Bitcoin miners.

Hahahaha  ;D
I like your way of thinking (and sense of humour maybe), yes it could be our kids or grandkids' problem.
But, yeah it wouldn't matter anymore, at that era, BTC may be 100x worth than today, the transaction fees will be enough for mining rewards.

maybe what happens is Bitcoin very diebut kan once by the public, because the stock is up and can be in the expensive its the price.

believe Bitcoin will be like this going up and down for a matter of price even though Bitcoin is gone in the mine.

Miners will still have a task to do but that time they will not do mathematical problems to solve and rewards them a bitcoin but instead they will just do confirmations pf transactions around the blockchain and the reward that they will recieve is from the tx fees

Yes,it maybe enough because the price will be too much if the bitcoin can stay until that.But there is nothing new will happen in the process the miners will continue to do they task as always and they will receive the rewards as well but the problem maybe only high hashrate miners can get the rewards.

I dont think there is problem with the confirmation after bitcoin reached the max cap. 21 million btc. The good thing here is the price will rise because of the demand will become high and the supply will become limitted. So we better hold till we reached the max cap then we will see what will happen to bicoin.