Bitcoin Forum

From 2099 till 2140 (when the last satoshis will be mined) there will only be one bitcoin mined. By the end of the century, supply is virtually fixed and limited to the maximum of 21 million. For the following forty years, miners will be mining only one bitcoin...

With most transactions (and most tx fees) being forced onto second layers, it will be interesting to see how this impacts miner incentive and their desire to secure the blockchain.

My best guess is that by that time, Bitcoin will have become a minority player in the space due to its inability to evolve.

It's hard to guess the scenario on that time all of us are not there anymore, but my bet is if miner will continue to mine it must be worth $100k or more by then, to be attractive to miners to mine Bitcoin even if there is only one Bitcoin to mine.

Within this years, bitcoin may have a significant price or no existence. Because if the price isn't too high, miners will not be there. And if bitcoin exists till then that one bitcoin will be more expensive than anyone can imagine.
We are talking about 100 years advance and it's very possible that at that time, bitcoin will even not be existed   ;D

Yes, it's really hard to see if miners are going to continue because of the difficulty and the incentives behind it. Hardware mining company like Bitmain should have by that time developed far more advance miners just to be able to find a block. So it's either miners shift to other coins or the incentive are still there to continue. That's why probably by 2032, when almost all bitcoin are mine, we might see what the best and worst case scenario for the mining industry.

In a scenario where 2nd layer solutions are widely used with a large number of micropayments, the on-chain settlement transactions would still be needed. Further, in such a mature scenario, one-time, large value transactions involving business entities would still be on-chain and should provide remuneration for the miners. If anybody thinks that there won't be a fee-based future for miners, then you should not be in crypto. Deflation and fixed supply is what makes it work.

And its 2099 we are talking about. By that time, a number of additional features would already have been added. For bitcoin to become a minority player, another project with the same level of network effect and decentralization would need to evolve. That doesn't seem possible with the kind of money-grabbing, vaporware peddling people behind other cryptocurrencies.

Yeah,and so what?I don't see the point of your forum thread.
By 2099 nobody of us will be alive (or perhaps the health care system will become so good that people will live  120 years). Perhaps our grand sons will see the mining of the last bitcoin,or maybe the Bitcoin Core blockchain won't survive.Nobody can predict the future so far away.What if quantum computers become a thing after 2040?
Will this be end of the blockchain?I'm not tech savvy enough to answer that question.

No one could predict exactly what will happen after 120 years. But you can imagine where bitcoin price was 10 years back, and now imagine where it could go after 120 years. Isn't too complicated mathematics for us? Lots of thing could change between 120 years.

However mining that time still would benefited due to mass adoption of bitcoin. Otherwise miner will stop mining if they don't have enough revenue from mining but expecting it will never happen. Even mining reward will stop but still there will be transaction fees which will never stop, so still there will be opportunity for earning via mining. Also there is possibilty to increase transaction fees when block reward will stop.

Are we still alive by that time?  ;D

If it happens that bitcoin has been the best asset of all time and technology has been bringing it too with its innovation. Then, miners are still there helping to secure the network and the incentive they get is sustainable.

Just one piece. I think it will be the most expensive and miners will compete to get it out ??? !!Or perhaps other horizons in the field of crypto will be opened, which will be an alternative, especially as crypto has become subject to development over time

By that time we are no longer exist in this world, let's just put the worry to the next generation. what we have today is what they will have tomorrow. Our part is to make people listen to us about how bitcoin will help us in the future, like, for example, the pandemic we are facing today. it could have been a big help now if they just listen long ago.

It is certain that there will be a period that we cannot see. I don't think I can live another 100 years. Even if there is no corona, we are very likely to die in another outbreak.

We already know that these mining rewards will gradually decrease. However, as mentioned above, I think it is very difficult to predict today for 100 years from now.

I think this is a kind of thread that reference can be made to in the next millennium. Of course even before such time, we are such that bitcoin mining will be highly limited. We have halving every four years and we can see the reality already before then.

So what do we do with this information? All of us will be dead in 2099, unless there will be some research breakthrough in the field of longevity. Our children or grandchildren may or may not be interested in Bitcoin at that time. And it's also an open question if Bitcoin will be relevant in the next century - it can either disappear or be replaced by something better. Basically, it's not very useful to look so deep into the future.

It seems to me that the individuals most directly affected by the Bitcoin supply supply are mining workers.
Perhaps the miners will be forced to move away from the rewards they get in return for their work once the mining of 21 million bitcoins is reached and thus there may be no motivation for the miners to continue supporting the network.

All of us would mostly dead by then and tbh, a century is quite enough for one idea to decay and became a heap of trash if people lose interest in it or people no longer hopped on to the train of being interested in it. Though I highly doubt cryptocurrency itself would be dead by then but BTC itself might have some tough times ahead since you can basically say it's fighting over dominance over the coins that other countries may be creating.

Indeed they are. Though miners may actually be rewarded quite well if the BTC price went up more than it is right now. Chances may be close to nil but if it were to happen, I'm pretty sure miners would be more than willing to continue not to mention the possible improvement on the efficiency of mining machines. They may even be able to reduce the costs to accommodate the price so that it could still be bearable to continue mining.

No worries. I'm confident Blockstream will continue to mine the chain in order to keep their scam alive.

^ 2099 I am already dead by then because I will be a hundred and thirty by that year which is really impossible for me to be still alive and most of us here. It is possible that during that year there will be no bitcoins that can be mined but we can't still assume that people on that year will still be needing bitcoins. Nevertheless, if we will consider it as a problem that the next generation will be facing in the future rest assure they will also find ways on how to resolve it or make options as a resolution. What we can do now is to prepare the future for the next generation and make them ready for any obstacles that they probably face in their years.

Then we might want to take a long hard look at proof of work before it destroys our beautiful green earth.

The only question is how much electricity, maintenance and production equipment will cost in those days.
Still, inflation is a very dangerous thing. And 100,000 dollars now, by the end of the century, can cost as much as 10,000 or even 5,000 now. Especially if there are financial crises, recessions or global pandemics.

I believe bitcoin is all about freedom for the transaction which was one of the vision Satoshi had! It will only be a digital currency in the same manner as it is today. I mean thats the best guess we can have since there is another use of BTC





You say so. But the thing is it might just get more popular over the time considering its value will grow exponential after each halving occurs.

As soon as we ^{(those who are alive)} will enter the dorm of 2099+ will see drastic rise in the prices of BTC

This people will consider throughout the 2050's or so and may consider it as best safe to put their money.

Don't forget 100 years from now population will grow as well and considering even 10-20% of them get into bitcoin business ^{(since they have to grow first so lets consider 10% make it)}then it will also push the BTC economy further ahead.

Bitcoin will have more popularity after couple of decades than it has today.

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Out of the Box: You never know your grand children might just be paying with BTC everywhere around the world and it is the only currency of whole world.
Who knows every nation accepts it as unified currency just to synch up everyone, every banking sector etc.  :D

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**Endless possibilities are there. Miners might get lucky one since they will enjoy handsome fees out these worldwide transactions. 

You can't have freedom without privacy, and you can't have privacy with Bitcoin.

I think every 4 years there is a halving that will occur in the suppy of bitcoin. Yep, the difficulty to mine bitcoin is hard as time goes by. But, imagine if it clearly done and all of bitcoins will be mined? Definitely, even it happens. Even all the predictions they said, we will never gonna see it because we are all gonna die. Imagine 2140 almost a century and a score before it happens.

LOLZ.

Thats not what I mean by that. I was talking about the stuff like amount of money you transacting, to whom you sending and from whom you taking. Its tax free money as long as you have it in BTC form. That is the kind of freedom I am talking here. May be you took literal meaning of word freedom.

At least in my country thats the freedom we must get since Taxation system is heavy. If you ever send huge amount to someone then it will reflect into your tax statement as pain in the back!  :P

Perhaps I have seen many people converting their money into BTC form just to have some assets safe and tax free. And no I am not going to explain further how they send it without knowing the Chartered's.

So that kinda freedom! Yay!

The supply of bitcoin is fixed upto 21 million and after halving the mining rewarda get half as now it has reduced to 6.5 per block mined.And we are talking about the time which is very long to come and by that time the prices may be too high that miners will be interested in mining one bitcoin also and about the production cost of btc like electricity prices at the moment.So it depends upon time and current situations of that time but btc will always provide freedom to user for transactions in coming time and its the revolutionary digital currency of future.

This might be considered sacrilege by many, but will we even be seeing Bitcoin on the same algorithm by then? And no I'm not necessarily talking about a move away from PoW, but could we be seeing technological advances that either make PoW "easier" to achieve while still staying ahead of whatever threat it is people are coming up with (like quantum computing?). Or will tech branches simply veer away somewhere else?

Bitcoin won't be what it is today for sure. But hard to predict anything when even the very fundamentals of economy, money and society might have changed then.

Of course that it's hard to predict anything, this is so.distant future. Who pf.us will ever live in that time?
I really don't see the point to debate how will Bitcoin look like in about 100 years or so, it's hard to tell what will happen in a month from now, having in mind how fast situation around us and in the crypto market can develope.

In the first place, none of us here in cryptocurrency can tell what happen in the future. This probably your opinion, I don't know what is your basis for this matter. But for what matters most to me is that 2099 till 2140 is only your thought were you based it only on your analysis maybe or something. But it doesn't mean that's the exact things that will be going to happen and of course not!

We are not powerless, helpless, witnesses. It's our duty to shape the future with our actions of today.

This depends on the future price of bitcoin, if the price increase and even if 100 satoshi worth a dollar, there will be nothing that will happen. Bitcoin will remain at the peak.

That's if we're still alive by then and also, the future is unpredictable. Bitcoin might not be the #1 coin then. A new coin might take over with greater features than BTC since it won't evolve or add new feature, only dominating because it's the first cryptocurrency.
The only thing that would happen is scarcity and increase in price due to more adoption.

I think it is still very early to give a final statement about Bitcoin's inability to evolve.  There is a possibility that Bitcoin might become a minority player but who knows what surprises these Bitcoin developers have in their stash in order for Bitcoin to be that attractive for miners to stay on Bitcoin Chain when that time comes.  Bitcoin supplies might have fixed supply but people and developers around it are constantly evolving and changing and continuously designing plans so we just cannot look at Bitcoin as stagnant water.

And in that year, I was already in the ground, whether the earth is still there or not.  ;D ;D

By the way, with the last coin to mine, with the limited supply only, what will be the price? Of course it will increase up highly, however, what's about the value? Well, this is too far to think because we also don't know whether it will still last or not.

Well, it may be 12 times higher than the highest increase so far, probably. Or on the contrary, it may have no value because the technology has changed. It is so difficult to predict those very long time later.

I wonder how all miners in the world online mine the last BTC, will it influence the mining tools? What will happen to the mining equipment? Or, there may be other ways in how Bitcoin will be used or utilized in the real use case.

Wow :o I am just thinking that time where will be btc price and it's demand. Still around BTC2.7M btc didn't mined yet and at this moment price average $10K per btc. 10 years ago 100 btc wasn't much valuer. Even many people buy pizza by spending lot of btc. But now 100 btc means a big amount. There is no doubt after 10 years btc demand and it's value both will be increase.

One of the cool things about bitcoin is that it has a mechanism to prevent crazy production of bitcoins. It will be great to see how things pan out once the 21 million bitcoin is reached. Thanks

You think that by that time someone will be interested in bitcoins?