Bitcoin Forum

On mining pools all miners get rewarded with the analogous CPU they have used.

I don't know exactly how many satoshis will be generated on every block after 2100 but I know they will be very few. Imagine splitting 1 satoshi. How? Will the bitcoin community create the nakamotos?

1 satoshi = 1000 nakamotos for example. Too dumb question, tho, since we can't know a damn thing about that era. Some say that life will end after 2100 due to loss of natural supplies.

Well, no one here will be able to see what will happen in 2100 or how many satoshi will be generated on blocks in 2100. There is no grantee that bitcoin will survive by that time and people may not have shifted to some other more better way for performing transactions. Also, even if the life exists after 2100, our life's will be end already.

This problem has been discussed in the past. For example, in this topic: Can bitcoin be divided beyond satoshis? (https://bitcointalk.org/index.php?topic=1453262.0).

This answer is just a possible suggestion:

Well, 2100 is such a long term period that we should not forcast what may happened then. this is why Lord Maynard Keynes said that we should do everything possible in the short-run to solve a problem because in the long run we are all dead.

Here is it, when the halving ends, miners who are maintaining the blockchain will be rewarded by the transaction fees. so, i believe miners will keep on mining. Secondly, there will be innovations when the time comes.

If bitcoin exists until then, bitcoin mining pool will be stopped. The chance of running is too low; unless BTC reaches a tremendous high price.
In LN, it can be split I guess; it's possible to split. Not a big deal at all.

Both are different discussion seems like.That one was for dividing small units of bitcoin. While here OO is looking for what will happen to mining pool when the reward will be low although OP have added the dividing issue in the later part.

That's 80 years to go and every year there is a new lot of things happens in the structure of the Cryptocurrency what you think will last for many years in the top standing in the market is not anymore like the case of Litecoin, we never know by that time if Bitcoin is still the leading coin in the market, but people will still mine just to maintain the blockchain but that would be fewer miners than when Bitcoin started.

You don't have to wait for 2100 to see what will happen to miners or mining pool.

Just imagine this, 88% of Bitcoin has been mined already, and there's around 2.5 BTC left to be mined. So in the next three halvings, by 2032 "almost" all Bitcoin so we will see by that time what will be the status or the economics of bitcoin mining.

I believe there will always be a need for pooled mining as many people are risk adverse and don’t enjoy gambling. The reward amount potentially being lower doesn’t change that fact.

I suppose it's too early to say? After all, the future of Bitcoin is still uncertain. Besides, 2100 is 80 years later, so why not go for somewhere smaller and decide based on that? Let''s say around 2040? That should be more than enough time to assume what would happen to 2100 by then. 2040 or maybe around 2075? That's around the middle time of since when BTC was made and possibly when BTC ends. Still, I believe it's still necessary, mostly because miners are still being paid of transaction fees, plus, Bitcoin would only grow in price if more and more keep hodling it. Ofc, there would come a time where it would probably stay at a steady price, but that's still mostly by the end.

I think it's hard to predict what will happen after the 2100s of mining pools but if the demand for Bitcoin increases it will be at the top of the market and mines will rise through blockchain technology However, the currencies will pump according to the market situation.

Well, no one knows how many satoshis will be generated in the year 2100, hoping that it would generate so many satoshi, it would benefit all of us thinking that we are still live on that year. The question is, does cryptocurrency can survive in the year 2100? I hope so, cryptocurrency becomes a good part of many people's lives, it helps them so good in terms of their finances and source of income, so whats more in the future where our technology keeps upgrading. As technology upgrades, cryptocurrency does as well. So I think in the year 2100 the image of bitcoin will become powerful.

You should read this article for more better understand, BITCOIN BLOCK REWARDS WILL BE JUST 1 SATOSHI BY 2140 (https://bitcoinist.com/stack-sats-now-bitcoin-block-rewards-will-be-just-1-satoshi-in-2140). Hope you understand that we don't need split Satoshi. There you will find a chart that will describe you mining reward up to 2140. Take a look on below picture.

Source; https://twitter.com/CryptooIndia/status/1193493686383824898 (https://twitter.com/CryptooIndia/status/1193493686383824898)

So if bitcoin exist after 2140 then everyone related stuff will be exist like mining pools. We don't know what will happen after 120 years. The only thing will happen if bitcoin exist, the mining reward will end, but miners will get transaction fees which would enough to generate their revenue.

Its hard to predict the future, especially in this new kind of technology. No one will know how the world will change in the next century. Many even doubt that bitcoin will continue to exist in the next few decades. 80 years later is a very long period of time and I guess there will be a lot of new technologies created which can be even more useful than bitcoin. As you can see, there are many other cryptos which have been proven that can bring more benefits than bitcoin. However, I do not deny the advantages which bitcoin has brought to us. Moreover, the bitcoin developed team are working day by day to increase the efficiency and the transaction speed. If people continue to make bitcoin greater everyday, I believe that mining pool can not be disappear in 2100

If Bitcoin still thrives by 2100, mining pools will remain most likely. The value of 1 satoshi in dollars would probably be equivalent to $1 million.

What I'm more interested in is how much would the transaction fees and the cost of mining be during that time. Maybe it will decrease significantly due to the advancement in technologies.

Why exactly 2100. It seems to me that this is a bit of a naive question because, over such an extended period, many events can occur that are outside the scope of analytics and which can unpredictably affect anything.
No severe analyst will make predictions for such a long time due to the enormous abundance of variables.

The only thing that would be appropriate here is speculation, but what good is it?

I believe that's the only time Bitcoin can be called a complete success, when transaction fees support the miners.

Plus OP, it will require a hard fork. No "nakamotos" on-chain.

The smallest unit is not satoshi butthere can be smaller units to work with in the side networks like the lightning network
will mining be economically profitable? wasting energy and resources on earning $ 1 a month? Will you continue with the project? of course not.
Companies can produce gold in factories, but the cost of extracting gold is much less than a need, and so they are mining.
The cost of mining bitcoin will make mining unprofitable before the year 2100.

you are basically asking the same question as "what will happen when the block reward reaches 0 satoshis" since the nature of it is the same. as long as there is reward to be gained from mining, the miners will continue mining bitcoin. that reward is the block subsidy for now and it will be mostly fees in a century from now! and when there are miners mining, they can "share the work" by joining a pool.

Beyond the conditions whether the earth still exists or whether Bitcoin still survives, we need to use the calculation of the block reward from halving. halving will continue every 4 years and this makes the block reward smaller.
And as said by @Coolcryptovator that mining reward will reach 2140 and the result will be 1 satoshi. And when 1 satoshi, then will they still memining? Maybe it's because it could be that the price of 1 satoshi is already very high.

First, you're forgetting that the block reward also includes transaction fees. At some point tx fees will become bigger than the coinbase reward. Second, miners don't instantly claim their share, they wait for some time and then ask the pool operator to send them whatever they have mined so far. And third, in such far future miners could be paid with LN transactions, which solves both the problem of fees and the amounts being to small for withdrawal.

Beyond the reward for miners, there already arose challenges associated with power consumption and over the years we have also seen tremendous development when it comes the protocols been deployed. I see a future where PoW (proof of work) algorithm gets to be upgraded to work with a POS (proof of stake) algorithm

In my opinion it is very difficult to guess what will happen in 2100 of mining pools, it could be that in 2100 Bitcoin is gone.
There are other currencies that exceed Bitcoin, and there are many possibilities that can happen for another 80 years. Because
technological developments will be the faster it is, maybe Bitcoin does not survive facing other more promising technologies.
Therefore, it is more realistic to predict which happens next 5-10 years.

Well, we are talking about 80 years later and everything is possible during is period of time, just compare today and 80 years ago and you will understand. About the question, After 2100 the block reward will be lower and lower then miner should work and mine only for the reward they get from transfer fee and block reward will not be that much to get profit out it. So, I guess considering the effect on Bitcoin price there will be still mining pools after 2100.

The idea behind the deflationary economy of mining rewards should be there will be a point in time that the price of BTCitcoin would help the miners and hopefully more transactions can be included in each blocks so that the miners could survive with that alone. Even now every block the miners will be earning around 2BTC to 3BTC as transaction fees per block along with the designated block reward of 6.25BTC.

To reach those levels you have to assume that the price of BTCitcoin would reach insane levels and for that you need to have a completely different scaling solution that we have right now, still a work in progress and we will see more developments in the coming years.

Why thinking about the year which is far to happen? Ask you question first about if you are going to be alive by that year to come, And maybe this question is not good to be ask since we will surely get a pure speculation since no one knows on what will happen in future. Just focus on what will happen by this year or next year and make your months more efficient to earn more and gather more money when bitcoins pump.

That's very helpful, but it's really close to needing to split. And even if not for miners' rewards (it never occurred to me that their rewards might reach the point of being less than 1 Satoshi, and it seems like they indeed never will), I am still pretty sure that satoshis will have to be split into smaller parts if a huge amount of people is going to use BTC and the price, naturally, skyrockets. I think it's a very real scenario where 1 satoshi will be too much. I hope that the fees will somehow drop by then, of course, and that people will use Bitcoin as money widely.

why imagine too far? while we might have already died on that year or maybe Bitcoin has destroyed or died. yes, no one knows what will happen in 2100 unless you are truly still alive. we are still alive in 2020 and it is better to focus on what will happen in the following years.

Im not sure that btc mining after 10-20-30 years will be profitable

Maybe it depends on the future Bitcoin price. Who knows will be mining profitable after 2100 or not?

If the incentives (transaction fees) can cover their expenses on operating their miners plus some profits, then there's definitely a market for bitcoin miners still. The need for someone to confirm transactions doesn't end when the last bitcoin is mined, so the process of mining should never stop. However if the price does not suit the current reward for miners to make a decent profit and operating budget, that might be the end of bitcoin, or at least some alternative to mining may be introduced to ensure that transactions still gets confirmed, but I doubt that there would be any other alternative since bitcoin is a pure PoW coin and many devs and people stand by it.

We still don’t know what will happen to cryptocurrency in 80 years. One thing is clear: it will not exist in its current form. Technological progress has accelerated noticeably, and the cryptocurrency has just begun to develop. Perhaps in 80 years everything will change so much that people will not be able to answer this question. We can only guess what will happen to cryptocurrency in ten years. It's already very difficult to say what will happen a little further

Mining makes The bitcoin network countinue to run and keep on processing transactions as usual, if there won't be any miners running the block-chain  then the transactions won't be processed as usual and The network will come to a halt.
But as everyone knows that after 2140 or a little bit before all the blocks containing bitcoins as block reward will mined.

Now the question comes what would be the incentive to mine those bitcoins??
The answer is that the transaction fees combined with the number of transactions that the network is processing will be high enough to incentivise the miners.

I think most pools will disappear when mining becomes unprofitable (sooner than you think).

There might be a few volunteer maintained efforts, not unlike solo.ckpool.org, getting donated funds to remain alive. In practice, very few people will keep mining anyway, maybe try their lottery solo mining, which you could do with your own node.

If those running the pool do not care that it gives nothing (ie. 0 pool fee for years) i guess they could remain, but for how long?

In the not too far future, when the prize for finding a block is measured in satoshis and with most miners already gone, so will the pools go with them.

Unless something makes the price of bitcoin spike (like the USD collapsing) which would revitalize and delay this process again a few years. But it depends in how the politicians treat their fiat from now on...

Bitcoin has nothing to fear as long as there are people out there who want it to be used. There will always be some enthusiasts hobbyist running nodes and solo mining (maybe even pool mining) left.

And the last ones are those with "free" energy, such as from natural renewable sources.

Miners do not profit from mining the default block reward alone.  Along with the mined blocks are the transaction fees which in the future may seem sufficient for the miners to have profit and continue mining.  So definitely mining pools will still exist after 2100 to mine for the transaction fees.

I would always mine unless the government bans it.

I would simply use less gear.

Op’s question is never going to need an answer for 2100.

As BTC will need radical change by 2032 or 2036.

I have not to expect that I'm still alive at that time or if I am, I'm not in crypto trading at all.

Do we think that the mining pool will put into an end? Maybe we can't tell either but unless crypto will still exist miners will still continue mining until the last block of BTC will be mined.

This is what has been discussed in the past 7 years ago https://bitcoin.stackexchange.com/questions/4612/can-bitcoins-be-split-up-into-greater-than-a-billion-parts and it have no possibility that it will happens.

I think you are thinking far too far ahead in the future. Will the world still exist then? Will banks? Will fiat? Looking at how the world is going on right now I think we have more to worry about then what currency we use.
a lot can happen in 80 years time but I like to think that things will go better. I still believe mining pols in some form will exist. Humans together can do more then one alone. Same with mining power. Whatever method is used to create or maintain the currency, that method can be multiplied and therefore working together will always be better.

Another thing is. What is a mining pool? Do two miners count as a pool? Does only using one single miner make it not a pool?

I think that way before 2100,at some point,Bitcoin mining will become unprofitable.What's the point of getting a 1 satoshi reward,when the Bitcoin price might never reach 1M or even 100K USD?
After 100 years,the Bitcoin price might be even lower than the current price.
After 100 years,the electricity costs might be way different than now-green energy might become really efficient and we might discover a source of endless cheap and clean energy.
What if this doesn't happen and electricity actually becomes more expensive?
To answer you question-yeah,one satoshi can be divided,if there's consensus in the BTC community for such fork.

Do you think the year 2100 is very close? Only God knows what will happen in the future. New technologies will be created in the future. Many new transaction systems will be created. So there is nothing to think about right now.

I don't even think that we can safely assume that bitcoin will exist in 2100, so why worry about the splitting of the satoshis generated by mining pools?
Crypto is evolving at a crazy speed and the world... well, in January who would guess we would be where we are now... and besides, in 2100 probably we won't be alive to se it anyway...

Many will still mining to maintain the blockchain but your subject is too far away. There is still 80 years left for this to happen and the future will tell whether it will happen or not. Where many people do not believe in cryptocurrency. We definitely want Bitcoin to reach the top of popularity. I believe that mining pools will exist after 2100.

That actually depends if the Cryptocurrency Industry will flourish then it would be a great investment in mining. Nobody know what might happen in the incoming years and yes, thinking about splitting satoshis are very complex. We might even see some more advancement in the future so we can never know.

Everyone is ignoring the fact that mined output consist of two parts - 1. Block Reward and 2. Fee Reward

The block reward will decline everytime when the halving occurs. But the fee reward is likely to increase in the future, as the adoption and acceptability increases. I would assume that the mining pools would continue to flourish as the user base increases. Let's assume that the exchange rate of BTC would be $100,000 by 2100 (very conservative estimate). Then the fee reward per block would be in the range of $50-150K.

Times are changing and different event or occurrences happens we really can't say what will happen in 2100 that's quiet a long time the crypto world is evolving let's stick to what we have now and see what the future holds for us ..