I know there are only 21 million Bitcoins in the world. Like gold, Bitcoin cannot simply be created arbitrarily. 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. So I consider that: what will happen when the global supply of Bitcoin reaches its limit? Tell me if you know….
One direct consequence will be that miners will no longer be able to mine coins. But they will still receive transaction fees. And since losts wallets, seeds and password mean lost bitcoins, the total supply of bitcoins will decrease at that point, if not earlier. But few of us will be alive when the last bitcoin is mined at some time in the 22nd century. It’s difficult to predict what the world in general will look like at that point and how Bitcoin will be affected by megatrends themselves yet unknown.
