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Title: What happens after entire minning of 21 million bitcoins is done? Post by: Ramya494 on November 02, 2018, 11:59:41 AM Bitcoin is like gold in many ways. Like gold, Bitcoin cannot simply be created arbitrarily. Gold must be mined out of the ground, and Bitcoin must be mined via digital means. Linked with this process is the stipulation set forth by the founders of Bitcoin that, like gold, it have a limited and finite supply. In fact, there are only 21 million Bitcoins that can be mined in total. Once miners have unlocked this many Bitcoins, the planet's supply will essentially be tapped out, unless Bitcoin's protocol is changed to allow for a larger supply. I am just wndering when will the entire mining be done and what happens after that?
Title: Re: What happens after entire minning of 21 million bitcoins is done? Post by: mocacinno on November 02, 2018, 12:06:56 PM This question has been asked, answered and discussed hundreds of times, but instead of using the search function, there are still people that repeat it every couple of days...
http://lmgtfy.com/?q=site%3Abitcointalk.org+what+happens+after+21+million+btc+was+mined You don't need a larger supply... When you spend btc, it isn't burnt... The receiver can spend the funds you sent him/her. Title: Re: What happens after entire minning of 21 million bitcoins is done? Post by: Upgrade00 on November 02, 2018, 12:36:25 PM < > From your explanation, bitcoin can be likened to about every mineral resource which cannot be simply generated but resource has to be used to mine them and they have finite supply. About what would happen when all bitcoin are mined (as I doubt there's any chance the program would be adjusted). A limited supply, means increase in demand against supply and would be good for the value. You see how projects like BNB use reducing supply to increase the value. Miners would be compensated with transaction fees alone as there would be no more BTC reward. It is not going to happen in this generation, so I'd not be too bothered about it. Title: Re: What happens after entire minning of 21 million bitcoins is done? Post by: bitfocus on November 02, 2018, 01:03:30 PM if you just search your title in the forum, you will get a huge number of opinions about the same topic.
Title: Re: What happens after entire minning of 21 million bitcoins is done? Post by: BitcoinPanther on November 02, 2018, 01:12:38 PM Truly, the question has been asked a numerous times but we as a community should never tire of giving profound answers to any repeatitive questions as such. After all the bitcoin has been unearthed i do believe that the number of bitcoin in circulation would be enough to cater the needs of bitcoin land. And as primarily designed, the max number of bitcoin should be able to adress the requirement of the times to come.
Title: Re: What happens after entire minning of 21 million bitcoins is done? Post by: semes on November 02, 2018, 01:14:37 PM You can find a lot of explanations about it in the forum. I think it's unnecessary to open up a new title.
Mining will continue after 21 million. Considering that Bitcoin will be accepted as a payment tol, mining will continue thanks to the fees to be taken as a result of the approval of the transactions. This is the summary. |